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Re: And we have another Bitfinex Hookey THIEVING Short Squeeze!
Short trade = $597
Stop Loss = $601
Actual price of stop loss order = $608....and that is on 6 fucking BTC (I wouldn't have much more funds on BFX than that)!
FUCK YOU BITFINEX YOU FILTHY FRONT RUNNING FAKE VOLUME THIEVING FUCKING FRENCH CUNTS! WHERE WAS THE 50 BTC ORDER THAT WAS RIGHT BEHIND MY FUCKING STOP LOSS YOU FUCKING ROBBING RAT BASTARDS!"
*A
Stop Loss = $601
Actual price of stop loss order = $608....and that is on 6 fucking BTC (I wouldn't have much more funds on BFX than that)!
FUCK YOU BITFINEX YOU FILTHY FRONT RUNNING FAKE VOLUME THIEVING FUCKING FRENCH CUNTS! WHERE WAS THE 50 BTC ORDER THAT WAS RIGHT BEHIND MY FUCKING STOP LOSS YOU FUCKING ROBBING RAT BASTARDS!"
*A
grow up! bitfinex is not for kids and day trading bitcoin either.
Actually most people here will call your viewpoint bearish for saying for saying that it could be an "entire 3 years" before we reach $5K. That's like an eternity.
Agreed 100%. 5k in 3 years is too conservative. Serious events will happen this year and the next. Events that will boost the price to new level very quickly.
Re: Bitcoin all time high and the hoarding theory. (Poll included)
the price has to start appreciating really soon, otherwise the massive number of holders will start losing patience, just to mention that in the worst case scenario 95% of all Bitcoins are just hoarded and you can confirm this by just looking to the daily volume across all exchanges and the daily transaction volume excluding the popular addresses, most of the new users joined because of the quick get rich scheme, posts on this forum and reddit that attack any different opinion or any voice of reason and just talk about how rich you will be if you hold 10 BTC and how this will be after few months is just worrying... well I can imagine if this wont happen this soon how this people will react...
the merchant adoption overpass the userbase adoption, each day we hear about new stores/companies adding Bitcoin which can be a good sign but only if the userbase is growing at the same or a bigger rate, my wife is doing her diploma about how Bitcoin as payment method would change economy here in Slovenia, in Q&A to a merchant who accepts Bitcoin for more than a year he said that the only time clients pay with Bitcoin is around an ATH otherwise no one ask about paying with bitcoin, most of the bitcoiners use the coin as an investment or as a saving method believing that it would appreciate in value over time..... just a look to the thin orderbook of all exchanged combined would reflect the hoarding theory.
Bitcoin would be a good saving mechanism only if the adoption rate will be equal or more than the actual inflation rate (creation rate of coins) which is more than 10.5% a year. so choosing Bitcoin as saving method is as risky or maybe riskier than having fiat in your saving account.
the merchant adoption overpass the userbase adoption, each day we hear about new stores/companies adding Bitcoin which can be a good sign but only if the userbase is growing at the same or a bigger rate, my wife is doing her diploma about how Bitcoin as payment method would change economy here in Slovenia, in Q&A to a merchant who accepts Bitcoin for more than a year he said that the only time clients pay with Bitcoin is around an ATH otherwise no one ask about paying with bitcoin, most of the bitcoiners use the coin as an investment or as a saving method believing that it would appreciate in value over time..... just a look to the thin orderbook of all exchanged combined would reflect the hoarding theory.
Bitcoin would be a good saving mechanism only if the adoption rate will be equal or more than the actual inflation rate (creation rate of coins) which is more than 10.5% a year. so choosing Bitcoin as saving method is as risky or maybe riskier than having fiat in your saving account.
This is restrictive.
Hoarders just hold. They won t sell so easily. Shake out are made to take money for those who follow the get rich quick.
And you forgot that we are the just at the begining of the S curve of adoption. When i ask around me, less than 10% has already heard about bitcoin. Even less understand bitcoin. We are going mainstream. That s the only point to remember when you want to sell. I will sell mine only if adoption is reversing.
edit: i voted "we all know that already."
Inflation is not a valid argument to support taking a high risk on a speculative asset. There are plenty of other assets to invest in to beat inflation such as real estate, inflation bonds, and stocks.
That's a nice list of risk free non speculative assets you got there.
Real estate is heavily taxed and risky since you often end up buying @ 10-20% more of the market price, it's illiquid and very costly to maintain
Inflation bonds don't protect against real inflation because they follow government numbers
Stocks can deliver well
The only true defense against inflation is gold/silver. And bitcoin if it goes mainstream one day.
All other assets are investment and currently in a bubble. I would not buy them now.
Why do you rule out natural ressources, other precious metals, google, altcoins, land, art, wine, swiss franc, high dividend stocks?
you are right. These are good. Except for google/ high dividend stocks. Don t bet on something tied to the economy right now.
I really like land and art.
But my point was, that the only true defense against inflation has always been gold/silver. Bitcoin ( and altcoins obv ) could become another once they would be mainstream.
Quote from: joshraban76
I'm sorry, but I'm against "bitcoin if it goes mainstream" sentence.
It will go mainstream, we are not in a race or in a hurry.
It will go mainstream, we are not in a race or in a hurry.
You mixed very speculating asset and protection against inflation.
Currently, bitcoin is just at the beginning of the S curve (adoption of new technology). You can t compare it to gold. So many things could happen that will rule it out of the world right now. That s why it is a very high speculative asset.
I have a lot of bitcoins and i m bull, but better stay rational than fanatics.
Inflation is not a valid argument to support taking a high risk on a speculative asset. There are plenty of other assets to invest in to beat inflation such as real estate, inflation bonds, and stocks.
That's a nice list of risk free non speculative assets you got there.
Real estate is heavily taxed and risky since you often end up buying @ 10-20% more of the market price, it's illiquid and very costly to maintain
Inflation bonds don't protect against real inflation because they follow government numbers
Stocks can deliver well
The only true defense against inflation is gold/silver. And bitcoin if it goes mainstream one day.
All other assets are investment and currently in a bubble. I would not buy them now.
Ok .. am I the only one who fails completely to see how this is such a big deal?
Please someone educate me.
Please someone educate me.
It isn't, but you can't control mass hysteria (stupidity). It's like the malleability issue, everyone was completely hysteric about it when MtGox reported about it. Transaction malleability is still there but now you hear nobody about it (and it still isn't a big deal), this is just how mass psychology works. In a month from now Ghash will be back to 35-40% and everyone will be happy again, even though there is really no significant difference between a pool owning 51% of the hashrate or 30%.
This is true, ghash would likely never attempt a 51% attack.
The good news is that it does not matter as bitfury is moving several PH/s of capacity out of ghash
Again, it's not the question of would Ghash do it or not...
The point is, it's possible and people can get greedy. Plus, agencies and governments.
Agreed. Not a concern for now, but it s a long term problem that need to be deal with if bitcoin want to stay.
Re: It's just 29,658.80060152 Bitcoins! We See more at Exchanges :S Just HODL! :)s
I think when there is a 20% price reduction over a 0.22% increase in supply, it is a good time to buy. Simple math. Think about it.
Lol i think about it but i don t see the relation between the two number. They are independant.
I've backtested bitcoin performance from 8-14-2011 til now. The results are interesting and hopefully you guys find it useful to build your own system as well.
Backtest specs:
Assume every trade is 1 BTC, buy at everydays open, sell at everydays close. This starts on 8/14/2011 -> 6/3/2014; I simulated late last night haha. Green day is defined by close greater than open. Red day is defined by close less than open.
Results:
*Total days: 1023
*Green days: 574 (56.61%)
*Red days: 440 (43.39%)
*Breakeven days: 9
*Average percent gain for green day: 3.679%
*Average percent loss for red day: -3.455%
*Average daily return is 0.4% compounding.
If you guys like what you see here or if you are interested in a trading system, I talk a little more about it on my technical bitcoin blog at http://ibankbitcoins.com/btc/starting-trading-system-here-some-basic-backtested-bitcoin-statistics
Leave a comment if you guys want to see anything in particular. I do one of these every few days.
Ibankbtc
Backtest specs:
Assume every trade is 1 BTC, buy at everydays open, sell at everydays close. This starts on 8/14/2011 -> 6/3/2014; I simulated late last night haha. Green day is defined by close greater than open. Red day is defined by close less than open.
Results:
*Total days: 1023
*Green days: 574 (56.61%)
*Red days: 440 (43.39%)
*Breakeven days: 9
*Average percent gain for green day: 3.679%
*Average percent loss for red day: -3.455%
*Average daily return is 0.4% compounding.
If you guys like what you see here or if you are interested in a trading system, I talk a little more about it on my technical bitcoin blog at http://ibankbitcoins.com/btc/starting-trading-system-here-some-basic-backtested-bitcoin-statistics
Leave a comment if you guys want to see anything in particular. I do one of these every few days.
Ibankbtc
Could you compare it to a different system? buy&hodl?
I have studied the charts for hours, and this is what I have found out.
1. Most of the times when Bitcoin rises, it rises around 5% to 10% in a matter of 30-40 minutes, and then it stays flat for a few hours.
2. Almost all of these rises are accounted for by bulk purchases of 1,000 or more coins.
1. Most of the times when Bitcoin rises, it rises around 5% to 10% in a matter of 30-40 minutes, and then it stays flat for a few hours.
2. Almost all of these rises are accounted for by bulk purchases of 1,000 or more coins.
For hours to find that it evolves by burst?
Please have a better look and come up with target/entry/timing.
It might not affect the price at all as the price is mostly controlled by an accumulation/distribution cycle of whales.
TERA, could you give me one example where a market is not driven by accumulation/distribution of whales?
Now to answer OP, It would be a great news and could be a trigger to the next pike.
The more transaction, the more maket cap is growing. It s the structural bitcoin price. add that to gigantesc bubbles and you have the BTC price.
So my view is that it would affect the structural market cap but only be a trigger to the next bubble.
For price to spike that high, a buy order would have to be so big that it cleared wall after wall and it would take slightly longer for sell orders to replenish. IMO, it has to be a glitch.
I agree you don't see a price chart like that in regular trading unless someone made some sort of giant order got hacked or a glitch occurs in the system itself anyways unusual stuff.
what about snowballing short squeeze?
Re: [ANN][0.8.6] Hirocoin - X11 - NGW - Secured Blockchain - Time Warp Limitation
Is there any concrete thing being done to make HIRO more useful in the real world and thus create true value? Currently there is nothing that would make someone actually need HIRO as opposed to many other cryptocurrencies.
I'm really asking this out of legitimate interest, not to spread FUD, but let it be clear that being X11 does not count as something useful, there are dozens of other x11 coins by now and it never mattered if a random assortment of miners are coming here in the future
I'm really asking this out of legitimate interest, not to spread FUD, but let it be clear that being X11 does not count as something useful, there are dozens of other x11 coins by now and it never mattered if a random assortment of miners are coming here in the future
It is a good question, what can we do to make ourselves stick out?
I hope that some people take some solace in the fact that we just added a new unique feature in Hirocoin, the ability to import private keys from QR codes. This is a neat feature but it is niche, however it shows that we are earnest about developing Hirocoin and can stand out from the majority of coins that we see launched where the devs disappear soon after launch. In fact, as I have said before, if you are technical you can take a look at the effort put into launching this coin to see that a proper and complete job was done bringing this coin into existence more so than the other X11 coins that have some out, no offence Darkcoin, but even they forgot to do a lot of things before launch like change the alert keys, pchMessageStart, PROTOCOL_VERSION and so on. I helped out Darkcoin with this and added the makekeypair command so that Evan could generate new alert keys to avoid picking up alert from Litecoin. The point is that no one puts the effort that we have put into Hirocoin if we were not intending to be committed to its longevity.
So what do we do from here?
It is not easy to find the killer application for Hirocoin. Let's make sure that we are at least the best of breed. So if anyone sees a good feature elsewhere in crypto bring my attention to it as we want to have all the good features that are available. As for more unique features I think we need ideas on this front. The easy thing to do is keep up-to-date with Bitcoin by moving to the latest code base. I've not had much interest on moving to the 0.9 codebase but it is on my agenda anyway.
Let's not only move to the latest code base and take the best but let's find other unique features to develop. The fact is that Bitcoin does what the majority of other coins offer, what needs to happen to secure our longevity and market success is find an area to move into that Bitcoin cannot follow. Something that for whatever reason Bitcoin would not be interested in being used for. If we can find an area to segment into and then rule it then that is how we win long term.
To start with we set ourselves to exist in a GPU only segment. So that all of those GPU miners who have to find another solution have one in us. Darkcoin is doing very well but as said before they have the inverse difficulty reward. So the more people that mine Darkcoin the lower the reward. This makes for an odd inflation model and one would guess that this is a indirect bid for scarcity. We have no such feature so hope to be a better choice for miners. We are yet to see the true impact of Scrypt ASICs but that time is coming soon. I remember well what the impact of SHA-256 ASICs had for Litecoin when the GPU miners had to migrate. Litecoin went from 2 cents to several dollars and never looked back. There is only a couple of months now before we will see the Scrypt ASICs come out, it is going to be a very interesting time.
If you know of a good feature or have in your mind a feature that does not yet exist then please let me know. We can make this happen and for new features it can happen with Hirocoin first like the import QR code feature. I am optimistic about what Hirocoin will be able to achieve long term.
Hi, glad to see you back on track again. We missed you.
First as i said earlier, big disappointment in the coin, so i sold mine. I don t have any.
But i have an idea for a very long time that i cannot be able to code. I m fairly new to crypto.
It has to do with being ASIC proof. If you want to play that card, it would be great as bitcoin won t do that, it s too heavy to do so as the discussion about changing algo of litecoin has shown us.
The idea is to be able to switch the algo of the coin in a simple way. A hard fork is a big brutal. Instead, we can use myriad way of mining and adding it the feature to control the % of each algo. So we will be able to change algo ( 0% -> 100% and the opposit) very smoothly and infinitely. I think it is doable, i think it will be total ASIC proof obviously, and it will be the killer app you need. Hiro is still a young coin and could afford this change (in my opinion).
Let me know what you think of it and if you think it is doable for HIRO or for a new coin.
Re: [ANN][UVC] UniversityCoin REVIVAL COMING | Pure PoS | 9M coins mined
and its not as easy as just taking it over. We need the REPO and such
hard fork it.
All you need to do is get Polo and Bittrex behind it. Trex guys are easily contactable.
Generally speaking, the current guys can screw off. They lied and deceive. If a new team took over, i'd be all for it.
It's time to roll the ball into another direction!
+1
Double top on the daily chart. The order book on Bitstamp still looks bullish. But that double top may be problematic for bulls.
That s a good one. A little pullback after a bull run because of a major resistance, and people call for a double top! Keep yourself together.
So much this. Once you get through your first bubble to the next one, it's hard to be too upset about any drop when it's still hundreds of % higher than what you bought at before.
I dont see a rise of hundreds of % at these levels. That was possible on single and double digits. But at three digits I cant really imagine that BT will ever trade for five digits.
With all due respect, what you "see" and what you "can imagine" is irrelevant.
Back your story with some story/arguments, otherwise you add nothing.
MarketCap is far too low to allow mainstream adoption. We could easily see 5 digits in a near future as people won t trust any government anymore. The incoming global crisis will be a good help for that.
So BTC is going up on pretty low volume currently. So what changed to get people willing to pay a higher price now? Is there some news or anything I am missing here?
Or is China just not having any news lately so they get the price to rise and then "News" comes out and ppl are like oh snap time to sell again. Idk.
Or is China just not having any news lately so they get the price to rise and then "News" comes out and ppl are like oh snap time to sell again. Idk.
Where do you get that? If you feel like selling, go on. I m sure you will fid people wanting to buy.
The only reason why bitcoin was in a bear trend is because there was a bubble. People like to think that every move in any market is due to events! That s very funny, and they ask themself why there is manipualtion
Re: After five years, has Bitcoin finally reached price stability?
One of the distinguishing characteristics of Bitcoin is that it is extremely volatile. This has always been the case until the past few weeks when the price seems to have stabilized in the 400-600 USD region. Of course such a wide range would still be considered extremely volatile if Bitcoin was compared to fiat currencies but do you think that Bitcoin is in the beginning stages of finally converging onto a stable price? Or do you think that there will be more bubbles and crashes in the future?
What is different now from other bear markets? price seems stable beacause there was very low volume last weeks and a reversal is in place.
And there will always be bubble and crashes, it is a deflationnary assets prone to exuberance. As the marketcap will mature, price will be less wild. As more and more people wait for the same wild jump&crash in price, it will correct that by itself.
Though, there will be a lot more bubble and bear markets before marketcap will be usefull for merchants.
Putting TERA on that list is more or less an insult to everyone else on that list. Case in point:
yup, TERA is on every thread criticizing. If you want an opposit view of what you think, you should ask TERA. I don t remember a usefull post. And i don t even mention using 3day and weekly MA with BTC...
If you think in terms of "stocks" my guess is that bitcoin is under-valuated regards its market.cap ... when we reach the golden price of 1300 that market cap. was 12 billions .. now we're 6B and bitcoin should worth at least 6 Benjamins ...
intro about
Price and Market Capitalization
http://www.youtube.com/watch?v=fa-VZ-SDxgY
intro about
Price and Market Capitalization
http://www.youtube.com/watch?v=fa-VZ-SDxgY
I m curious about the reason why "my guess is that bitcoin is under-valuated regards its market.cap" and "bitcoin should worth at least 6 Benjamins". Something to back such wild guessing?
Re: Why trend reversal? -> basic technical analysis! trend lines is all you need :)
how can you say that line cross was a coincidence? what are the odds?
I don't think it was a coincidence. Bulls have reason to point out the break of the down trend line. But are we looking at a $50 move? Or a $500 move? Bigger? The breakout alone is not so comforting looking at indicators. RSI is riding very high 4H. Hard to see a strong up move from here.
Could you be more specific? You want a new ATH in a week so that you could say for sure it was a strong move?
Seeing reversals before others is how you trade, not the other way around!
Yes, so is it a reversal or a retracement? I am implying it is a retracement.
What do you want me to be more specific about? As I said in another thread, a break of $530 for me indicates that this rally has legs.
?? the bear market was already a retracement! How many retracements of bear market do you see in the history of Bitcoin?
You make no sense. Sure, you could look for new higher high, but even if we pass 530, that wouldn t say that this is not a retracement. Just for you maybe. ANd as you are not george soros, i don t know why i will take this seriously.
I don't think you understand the terms.
Sure, the bear market was a retracement of a larger move. So? Do you know what a retracement is? It is a corrective move that "retraces" part (or sometimes all) of an impulsive move. You can have many, many retracements. And until we see an impulse that breaks outside of that range, that's what we are working with.
Yes, a break of $530 would not indicate an impulse. In fact, if it happens, I plan to exit in the $700s.
Don't take it seriously. You think I take *you* seriously?
lol yes my english is very bad. I know very well what a retracement is. So you are saying that this new up trend is a retracement until it breaks the ATH of november. Technically, you are right. But that still make no sense.
What i meant is that you dont have the financial power of george Soros so you can peak what ever price you want, it won t have any effect. 530 is the best you can safely do right now. But you could have watched higher low instead and bought at a much lower price.
I only trade a sub-wave, or a wave, at a time. I'm not worried about the 340 low or the 420 low. That's over and I've made many trades since. What I'm saying is that $530 is a good level to watch -- to short on failure, not only go long on breakout.
i wouldn t short BTC right now, nor swing trades small waves. Forex is more your style. Did you demo it?