http://cryptome.org/2014/05/weev-duns-usg-28296btc.htm


So, would you like to speculate on his chances of actually getting his invoice paid?

Bat shit crazy!  Where's the volume?

If the bots on Stamp and BTC-e are still programmed to follow Huobi, the price can certainly go down.

tl;dr;bilae
(too long; don’t read; but informative links at end)

So, now what?  I’ve been studying the tealeaves without result.  I intended to stir some chicken entrails with my long stick but the dog ate them first.  No result.  My fav TA analysts show slightly different interpretations.  Mixed results, mostly lower for an undetermined period, with chances for breakout at ‘some future date’.  Trying to gauge sentiment consensus on here is about like the tea leaves.  No consensus.

I’ve already written that I stopped my day trading activities a few months ago.  I’m now trying to figure out what would be my requirements to re-enter that fun and frustrating arena.  Before I can do that, I have to revisit my reasons to stop trading and pull my btc back.

Sometime in Nov or Dec, I was goxxed twice.  Moved my coins to BTC-e because… speed of that transaction.  Had fun and an increase in coins, trading the peaks and valleys on the way down from ATH.  Then a combination of international events (Senor Putin, China-Japan, China-Philippines, Karpeles-MtSux fiasco, etc.) caused me to reexamine my hole cards.  Then, the realization that coins on an exchange under my control was an illusion.  The control rests with the exchange owner/operator.
 
Therefore, to begin active trading again, I need a reliable exchange.  One that is transparent and honest.  How to judge those requirements?  No clue.  Absent reliable, transparent, and honest, I would need to see a rising trend in coin price.  Stagnant, $20 daily swings, and steady drips to the bottom, just won’t get it for me.  Even with suspect exchanges, I would resume trading on a sustained up trend by removing and depositing coins as needed, a practice that would limit profits, but one that would be much less risky.

While these thoughts have come and gone these last few months, a couple of articles came to my attention.  The first, although I think misnamed, sets out the reasons that alt coins that are substantially clones of bitcoin are doomed to failure (Doge, your days are numbered).  Read here if interested:  Bitcoin suicide

The second article, if true and accurate, (and if you like…extreme conspiracy theory) sets out the reasons why bitcoin will not be the denomination of the world economy.  Warning!  Subversive literature aimed straight at the flag waving fanatics:  World economics, forever out of your control

For the near future, I’m holding my stash.  Waiting for an uptrend that begs to be traded, fiat available on two days notice.

I'm more nobody than anybody, but it seems like the range for BTC-e has been about 8-15 $ lower than Stamp for some time now.  It varies for no reason known to me.

I traded there for a while, but never tried to deposit or withdraw $.  BTC in and BTC out.

Ya.  I'm pretty pessimistic about our current situation.  I know that all trends will eventually reverse (or maybe not), but I think the 1w and 3d trend says about all there is to say right now.

** Pessimism is a state of mind in which one anticipates undesirable outcomes.

Poetic, windy.  Gave me visions of an old Tarzan movie.  He fell in and had to wrestle a croc.  Watch your step.   

Watch out below!

There is certainly something going on.  I'm too tired to stay up and see it live.   

Wowzer!  Now that's what I call a Dump.  What's up, Stamp?

edit:  I dunno.  Might be a glitch on BitcoinWisdom.

edit 2:  confirmed glitch... It showed over 11k until I refreshed.  Whew.

I think that what you have outlined is a safe assumption.  And, it confirms my biases perfectly.

That assumption, coupled with my very strong suspicion that the exchanges are trading for their own profit with users assets, and my belief that the exchange operators employ those pesky automated trade bots that keep posting fractional asks and offers simply to keep up the appearance of trading activity, are the reasons I closed my trading account on Feb 17 @ 547.

The six months of trading left me with more BTC than I began with, so it's OK.  My perception of the dangers of continued trading was not OK.  I'll just wait.

If Tera is right with his TA (I don't know either way) this could be the prelude to the drop.

I doubt that.  More likely it would mean more of the same crap until the next 'deadline'.

Yup.  Sounds the same to me.

+1

Yes, What?  I don't know the personalities you write about.  A Cliff's notes version would be nice for me.

I didn't mention whether they were going long or short.  Just that the bots seemed to be following Huobi on the initial movement.

edit:  this latest move appears to have started on Stamp.

I could completely wrong, it is likely that I am, but I think that there are a large number of automated traders on both Bitstamp and BTC-e.  Some while ago these bot-users determined that the Chinese markets could/would serve as nice triggers for the other exchanges.  ++ for a long while it was Gox that served up similar triggers ++

In our increasingly nervous market the bots detect a movement on, say, Houbi and automatically follow suit.  That combination is enough for human traders to climb on the bandwagon and reinforce the initial move.  Then the more rational/reasoned traders counter-move and the initial trajectory is reversed. 

I believe that these oscillations will continue until: 1.  There is no 'other market' that serves up a trigger; or, 2.  Confidence is regained, the nervous market ends, and a true vector forms.

$0.02

Yes.  I edited my question.  Thanks.

Sounds really good.  Except for those who might relish their anonymity‎: