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The Bitcoin (BTC) thread
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HD668B Offline
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Post: #576
RE: Bitcoins up 60% in less than a month
(12-07-2013 02:33 PM)The Texas Prophet Wrote:  The haters of bitcoin are the emotional ones. Even if bitcoin never becomes a currency, it has value as a payment network (think of a cheaper, faster paypal).

Can you explain me in few words how you can use something that moves more than 50% in the same day as a payment method? The seller can loose half of his money instantly!

(12-07-2013 07:34 PM)Pyre Wrote:  What im going to do is wait to see what happens and if it goes up and seems to keep going up, buy in and sell at another peak.

So we have 2 pro strat here:
Buy high sell higher or average down until you are at the support.

Guys, if you want gamble money, buy penny stocks, at least your account wont be hacked or your wallet go offline.
(This post was last modified: 12-08-2013 05:49 AM by HD668B.)
12-08-2013 05:36 AM
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JayJuanGee Offline
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Post: #577
RE: Bitcoins up 60% in less than a month
(12-08-2013 05:36 AM)LÉtranger Wrote:  
(12-07-2013 02:33 PM)The Texas Prophet Wrote:  The haters of bitcoin are the emotional ones. Even if bitcoin never becomes a currency, it has value as a payment network (think of a cheaper, faster paypal).

Can you explain me in few words how you can use something that moves more than 50% in the same day as a payment method? The seller can loose half of his money instantly!

L'Et:

This comment of yours sounds like a typical hater comment. As you already know, right NOW, and even moreso in the last couple of months, lots of people are speculating and following BTC values like a get rich quick scheme... and gambling and investing into it.

Really BTC is like an IPO.. we, and members of the public, just learned about it in the last couple of months...or at least the concept is spreading more and more to regular people who are thinking about getting in... and/or ways to get in.

So, at the moment, BTC is NOT a great vehicle for a rest-assured payment system, b/c the value of the Bitcoin remains in flux and volatile on a daily basis b/c, as you know, the value is NOT settled b/c also a lot of people, are just hearing about it and getting into it to invest and speculate.... and even those who are already in are probably playing the market aspects of this current investment vehicle.

It is likely that the volatility is NOT a long term status, and that should be obvious to you based on the current circumstances... thus making your comment sound like pure hating b/c you are asking us lay people to argue about obvious problems that exists in the short-term and in a weekend seeing one of the largest collapses and NO ONE can really control that level of volatility or even defend it or even know where it is going to go for sure. That current level of volatility does NOT take away from the long term potential of this bitcoin as a payment system.

L'Et: Are you in or NOT, or are you just mad and angry at some of those lucky people who invested early and became quick (and likely undeserving) millionaires? Sure a bunch of young kids and undeserving investors are likely going to get rich off of this BTC phenomenon. some have already made fortunes, and if BTC were to take off, then some of them would become increasingly rich and wealth will transfer from old institution to a lot of these geeky undeserving types..


Also your comment/question sounds like a hater comment b/c you are attempting to set the parameters to answer in "a few words" a matter that really cannot be answered - especially when there will likely be quite a bit of volatility until this payment system were to be adopted by some major players such as a govt or some large institutions. Those major players are NOT likely to adopt it soon or to buy into it soon without a fight and various continued sabotage efforts, first... so I predict that this BTC value system will be quite volatile for quite a while b/c also (besides the speculation matter) those who are invested in the status quo are going to engage in a variety of efforts to sabotage it and to work against it.. and this battle of existence and valuation could be long and drawn out.. especially the longer that more and more people get invested into BTC systems.

What advocates of the payment system are hoping for is that its value will stabilize, and that will NOT likely happen soon... and accordingly any payment agreement is going to have to take into account the volatility risk.. and consider how and who is bearing such volatility risk(s).



(12-08-2013 05:36 AM)LÉtranger Wrote:  Guys, if you want gamble money, buy penny stocks, at least your account wont be hacked or your wallet go offline.


Are you really trying to help anyone out with these snarky remarks? Surely, some of us are also investing in BTC b/c we are taking various gambles and we think that there are potential up financials. Yes, we need to account for various risks and we ALSO need to take certain precautions...

L'Et:

In the end, I DO NOT get your contribution, HERE, except to maybe point fingers at some of us who are trying to engage in meaningful discussion about investing in BTC... and possibly some of us may lose our asses and we are taking those kinds of chances investing and trying to study the market in order to know how to invest and when to be in or to be out..

And YOU? Are YOU in or NOT or just pointing fingers and judging the rest of us? That's right, in one of your earlier postings, #558 above, you already said that you were NOT in.

Accordingly, what's your contribution to this thread, exactly - besides various kinds of amorphous hating?
(This post was last modified: 12-08-2013 06:40 AM by JayJuanGee.)
12-08-2013 06:10 AM
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Pyre Offline
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Post: #578
RE: Bitcoins up 60% in less than a month
(12-08-2013 05:36 AM)LÉtranger Wrote:  
(12-07-2013 07:34 PM)Pyre Wrote:  What im going to do is wait to see what happens and if it goes up and seems to keep going up, buy in and sell at another peak.

So we have 2 pro strat here:
Buy high sell higher

I prefer to call it momentum trading Smile
12-08-2013 09:02 AM
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Duke Castile Offline
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Post: #579
RE: Bitcoins up 60% in less than a month
JJG is one is the most long winded posters of all time.

We were meant for far more than to suffer in our self created prisons only to die alone. It doesn't have to be that way. It never did.
12-08-2013 12:37 PM
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el mechanico Offline
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Post: #580
RE: Bitcoins up 60% in less than a month
(12-08-2013 12:37 PM)Fisto Wrote:  JJG is one is the most long winded posters of all time.
He takes his Bitcoins seriously. But. seriously there's not much to it just buy and sell and hope you don't get caught in a crash.
12-08-2013 12:39 PM
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el mechanico Offline
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Post: #581
RE: Bitcoins up 60% in less than a month
How long does a dead cat bounce last in the bitcoin world?
12-08-2013 01:02 PM
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Pyre Offline
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Post: #582
RE: Bitcoins up 60% in less than a month
(12-08-2013 01:02 PM)el mechanico Wrote:  How long does a dead cat bounce last in the bitcoin world?

It's trading in a channel in the 700-750 range. I'd guess as soon as it breaks out of the channel and shows sure signs of momentum.
12-08-2013 01:59 PM
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JayJuanGee Offline
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Post: #583
RE: Bitcoins up 60% in less than a month
(12-08-2013 01:02 PM)el mechanico Wrote:  How long does a dead cat bounce last in the bitcoin world?

In a very volatile market, times are very compressed.

In any event, in my thinking, the dead cat bounce theory seems very questionable at this point.

For about the last 32 hours, BTC has NOT really dropped below the upper 600s and has largely hovered in the 700s. Accordingly, I am buying another .2 BTC or possibly .3 BTC today when the price drops back below 700s.. depending on how long I have to wait for such movement below 700 and/or if it happens. I'll buy more at various quantities in the event BTC drops further today (such as below 650), otherwise, I will wait again until tomorrow to make another incremental purchase.

El Mech: I think my incremental investment strategy is much safer than the all or nothing strategy that you seem to be considering and/or employing... but that assertion of mine has to do with my bullish long-term outlook... and in that regard, if this BTC is at a low, then YOU and guys in like situations will be kicking yourself(s) a couple days later for NOT getting partially back in.... ON the other hand, if you believe the dead cat bounce theory, then you are anticipating a longer streak of downturn.. which kind of sounds like your current thinking is subscribing to the dead cat bounce theory and possibly the current mass thinking... which with investments, following the masses (at one step ahead of the masses) can be a good thing.

CAVEAT... I also concede that I do NOT know what I am doing... hehehehe.

(12-08-2013 01:59 PM)Pyre Wrote:  
(12-08-2013 01:02 PM)el mechanico Wrote:  How long does a dead cat bounce last in the bitcoin world?

It's trading in a channel in the 700-750 range. I'd guess as soon as it breaks out of the channel and shows sure signs of momentum.

Pyre - Are you suggesting that the movement is going to be up or down, after BTC "breaks out of the channel"?
12-08-2013 02:11 PM
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Pyre Offline
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Post: #584
RE: Bitcoins up 60% in less than a month
(12-08-2013 02:11 PM)JayJuanGee Wrote:  Pyre - Are you suggesting that the movement is going to be up or down, after BTC "breaks out of the channel"?


Given the volatility that btc has show far shown, yes.
12-08-2013 02:21 PM
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JayJuanGee Offline
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Post: #585
RE: Bitcoins up 60% in less than a month
(12-08-2013 02:21 PM)Pyre Wrote:  
(12-08-2013 02:11 PM)JayJuanGee Wrote:  Pyre - Are you suggesting that the movement is going to be up or down, after BTC "breaks out of the channel"?


Given the volatility that btc has show far shown, yes.

OK.... so... which one are you choosing..?

I am proposing that you choose:

UP

or

DOWN



"yes" is NOT choosing... he he he Smile

Of course, you do NOT have to choose, but it seems that the question that El Mech is asking.. is when to get back in and to answer that question is based on a prediction of up or down and when... NOT maybe and NOT it is volatility...
(This post was last modified: 12-08-2013 02:43 PM by JayJuanGee.)
12-08-2013 02:39 PM
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Pyre Offline
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Post: #586
RE: Bitcoins up 60% in less than a month
I dont know. If it breaks upward out of the trading channel where the price is currently then UP. if it breaks downward of the trading channel then DOWN.

The buy signal would be if it crosses out of the channel on volume and shows momentum going upwards. Gotta "read the tape" to make a bet.
12-08-2013 02:43 PM
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JayJuanGee Offline
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Post: #587
RE: Bitcoins up 60% in less than a month
(12-08-2013 02:43 PM)Pyre Wrote:  I dont know. If it breaks upward out of the trading channel where the price is currently then UP. if it breaks downward of the trading channel then DOWN.

The buy signal would be if it crosses out of the channel on volume and shows momentum going upwards. Gotta "read the tape" to make a bet.

That makes sense. So, it seems that you look at both volume and price to make your short term prediction...
12-08-2013 02:48 PM
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Pyre Offline
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Post: #588
RE: Bitcoins up 60% in less than a month
Yeah, reading the tape.

Look now theres an options market on btc

http://www.zerohedge.com/news/2013-12-08...as-arrived
12-08-2013 02:49 PM
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RougeNoir Offline
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Post: #589
RE: Bitcoins up 60% in less than a month
I bought .5 BTC at $1100 on Monday, the start of this crash. It's been a bloodbath-like experience thus far. However, it's a good thing BTC will be worth $10,000, $100,000, or $1,000,000.
12-08-2013 02:58 PM
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el mechanico Offline
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Post: #590
RE: Bitcoins up 60% in less than a month
(12-08-2013 02:39 PM)JayJuanGee Wrote:  
(12-08-2013 02:21 PM)Pyre Wrote:  
(12-08-2013 02:11 PM)JayJuanGee Wrote:  Pyre - Are you suggesting that the movement is going to be up or down, after BTC "breaks out of the channel"?


Given the volatility that btc has show far shown, yes.

OK.... so... which one are you choosing..?

I am proposing that you choose:

UP

or

DOWN



"yes" is NOT choosing... he he he Smile

Of course, you do NOT have to choose, but it seems that the question that El Mech is asking.. is when to get back in and to answer that question is based on a prediction of up or down and when... NOT maybe and NOT it is volatility...
Yeah wee need to establish some sort of pattern. I know in the AM some news outlet will hype bitcoin somehow and could go up or down..

I'm going to wait until the Chinese wake up I think but.. I was sure they would panic and cause us to panic to a greater extent yesterday.
12-08-2013 03:41 PM
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Satoshi Offline
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Post: #591
RE: Bitcoins up 60% in less than a month
It will go up this week. All the attention from breaking 1000$ give attention to many new buyers, they are depositing their $ at the moment and we it will hit the exchange in the following days. No longtime holders would sell at 600 or 700$ when it has already passed. A few dumps at 1100$ and all daytraders sells as well to try and make a few bucks. All of them are just waiting to get in again. My speculation, might me right. I don't think this all time high will hold longer than a maximum a few weeks, but i predict we break it before next Sunday. Yes I'm a bull and have been since i got in at 22$.
12-08-2013 04:10 PM
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el mechanico Offline
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Post: #592
RE: Bitcoins up 60% in less than a month
Quote:they are depositing their $ at the moment

That's not jiving with what I'm seeing on Fiatleak. The money conversions are way down.
12-08-2013 04:17 PM
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pants Offline
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Post: #593
RE: Bitcoins up 60% in less than a month
(12-08-2013 04:17 PM)el mechanico Wrote:  
Quote:they are depositing their $ at the moment

That's not jiving with what I'm seeing on Fiatleak. The money conversions are way down.

What you are seeing on fiatleak are people swapping fiat/bitcoin bitcoin/fiat. Friheten is talking about people trying to get money into exchanges i assume.
(This post was last modified: 12-08-2013 04:47 PM by pants.)
12-08-2013 04:32 PM
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Pyre Offline
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Post: #594
RE: Bitcoins up 60% in less than a month
The thing about fiatleak is that for every purchase someone is selling too.

So its not a good predicator on how many people are buying because on the other end of each transation someone's selling btc for fiat
12-08-2013 04:34 PM
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JayJuanGee Offline
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Post: #595
RE: Bitcoins up 60% in less than a month
(12-08-2013 04:32 PM)pants Wrote:  
(12-08-2013 04:17 PM)el mechanico Wrote:  
Quote:they are depositing their $ at the moment

That's not jiving with what I'm seeing on Fiatleak. The money conversions are way down.

What you are seeing on fiatleak are people changing into bitcoin. Friheten is talking about people trying to get money into exchanges i assume.

Thanks Friheten for making a unambiguous prediction...

I'm with Friheten on this about BTC going back over $1,000 this week. by Monday or Tuesday. .. but I am NOT really sure why.

In this regard, El Mech, i think that it is TIME to get back in... or forever hold your peace.. (but i'm NOT an all or NOTHING kind of guy) ...

On the other hand, contrary to what Friheten predicts I DO NOT believe that BTC is going to break its all time high this week (but what do I know?), but it will go over $1400 before the end of the year....

I am NOT going to buy the $1400 option, though.. b/c I have my hands full already with keeping track of my multiple direct and piddly incremental investments of BTC.. he he he..

and THE ABOVE is NOT investment advice.. ACT at your own peril... Smile and don't come crying to me if you were to do what I am suggesting and lose your ASS. Heheheh Smile Smile
(This post was last modified: 12-08-2013 04:58 PM by JayJuanGee.)
12-08-2013 04:54 PM
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el mechanico Offline
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Post: #596
RE: Bitcoins up 60% in less than a month
Well it's 6am in China let's see what they're going to do and what kind of news they will get. I'm holding out and watching for an hour or so. Time to mix my signature trading drink redbull zero and vodka.

I'm back in btc 770 to 790 Fuck
(This post was last modified: 12-08-2013 05:45 PM by el mechanico.)
12-08-2013 05:07 PM
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JayJuanGee Offline
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Post: #597
RE: Bitcoins up 60% in less than a month
(12-08-2013 05:07 PM)el mechanico Wrote:  Well it's 6am in China let's see what they're going to do and what kind of news they will get. I'm holding out and watching for an hour or so. Time to mix my signature trading drink redbull zero and vodka.

I'm back in btc 770 to 790 Fuck

Did you get back in before BTC went to $790, or after it had already gone there? IN the past about 6 hours it has been slowly migrating upwards from $720 to upper $700s.

A couple of hours ago, I bought .45 BTC at $745. I bought a little more BTC than I had planned for (in my daily allotment) and earlier in the day than I planned based on the various option and hedging trading reports that were shared in this thread and the general positive vibe that I was feeling... he he he.. .how scientific is that?

I am prepared to buy more BTC if it plunges... let's say below $700, otherwise, I will wait to buy another .1 or .2 BTC tomorrow at whatever the price may be at that time.
12-08-2013 06:44 PM
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el mechanico Offline
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Post: #598
RE: Bitcoins up 60% in less than a month
I bought it last at 790 honestly I thought it was going to crash to 400 or so. I made 14 coins though since Last week.
12-08-2013 07:18 PM
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JayJuanGee Offline
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Post: #599
RE: Bitcoins up 60% in less than a month
(12-08-2013 07:18 PM)el mechanico Wrote:  I bought it last at 790 honestly I thought it was going to crash to 400 or so. I made 14 coins though since Last week.

he he he... based on that information, probably I could do the calculation to figure out your total holdings... he he he..

NOW... here goes.. hehehe... should be approximately 56 BTC.. You don't need to admit it publicly... if you don't want to... I knew I would get it out of you sooner or later...
12-08-2013 08:03 PM
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Pyre Offline
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Post: #600
RE: Bitcoins up 60% in less than a month
skeptical

look at the transaction volume in the last 30 days

https://blockchain.info/charts/estimated...0&address=

a shit load of people got in to it at the highs

and the volume during the crash was minimal

i want to think that a lot of the people who got in on the highs are going to sell, but it seems they're waiting for it to go up. but unless a buying spree starts its not going up
12-08-2013 08:13 PM
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