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The Bitcoin (BTC) thread
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fortyfor Offline
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Post: #776
RE: Bitcoins up 60% in less than a month
(12-17-2013 09:48 AM)el mechanico Wrote:  I have a screenshot in my phone I sent to some friends BTC @ 483 a month or so ago. Holy shit 483!

The fundamentals show that the virtual hashes BTC that were pretending to be money, were and still are OVERVALUED like insanely crazy...

Of course BTC will continue to go down.

There is NO reason to ever go up again actually
12-17-2013 01:33 PM
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JayJuanGee Offline
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Post: #777
RE: Bitcoins up 60% in less than a month
(12-17-2013 12:09 PM)el mechanico Wrote:  I've been watching BTCCAST and China is NOT buying/converting money. It went to about 260 btc per minute to 0.

They will dump.

In other words, you are saying that right NOW, the Chinese are holding BTC, for the most part, and if we were to attempt to time the market the BIG questions are:
1) WHEN will they start to dump, if at all,
2) HOW much will that dump, if it takes place, affect the BTC market - how much of a BTC price drop are we going to get out of that and
3) HOW LONG is that BTC price going to stay down... meaning when will it GO BACK UP, if at all, and how much will that going up be?

Maybe at any particular moment a guy is NOT going to be able to predict with such precision; however, yesterday, I was under the impression from El Mech that BTC price was dropping - when it was floating around $650 - maybe that was my misreading of the tea leaves... b/c tea leaves can be a bit ambiguous... and al contrare pretty much yesterday, $650 was the BTC bottom (and I am glad that I bought at that price.. contrary to adamant and persistent recommendations to hold dollars).

The impending and imminent price drop did NOT happen or continue - the opposite took place. BTC skyrocketted, more or less, up to $740 within a few hours and then for the past 12 hours, it kind of has been fluctuating, largely between $720 and $680 - where it remains.

In my assessment, there could be a crash up or a crash down - maybe the odds are greater for a crash down, but that is NOT certain. Since I am daily dollar cost averaging (DCA) I do NOT really care which, but if any guy is going to be saying that he can predict, he needs to give some kind of SOLID specifics before the up or down trend happens, rather than after it had happened.

I am saying that we DO NOT know, NONE OF US DO, and if we get it right, then great... guys can trade on that, if they think that there is some kind of track record upon which he can rely. B/c I do NOT recognize accurate predictions taking place, I am continuing with my methodology of DDCA b/c we DO NOT know, and I have a desire to be in BTC at the time that it crashes UP, if it were to go up, and as long as I continue to regularly invest, I am going to be in when the unpredictable time comes, and I am NOT going to hesitate b/c some one is telling me to stop b/c he wants me to switch into an uncertain methodology of timing the market (based on skill and or luck, which I claim to have neither) and the risk of BALLLS TO THE WALLS investing.

That BALLLS TO THE WALLS investing is A LOT easier to advocate if a guy is merely working with his profits, he is already sufficiently IN the game and HE is NOT planning to invest more. That is different from my situation and that is different from guys who still are contemplating getting IN, sooner rather than waiting for some crash that may or may NOT take place.

Dollar COST AVERAGING allows guys to begin to get in, right away.

(12-17-2013 12:48 PM)pants Wrote:  Dose that not mean standing still? Activity means up or down?

I got the feeling of down to, but no idea why..

Still, I am holding, last I sold was on 180. Not doing that mistake again.

I don´t think its gonna go much up until February/Mars now. The fear in the market will remain for a while.

YES. Even though any one of us may NOT be correct with our prediction(s), this prediction is fairly solid and reasonable and gives a timeline. Also, it shows uncertainty, which we should all feel with our predictions about BTC.... and it shows us that we do NOT want to get out of the BTC game - just b/c others are saying get out.. b/c we may end up getting screwed at $180 or whatever that "low" may be that at the moment, we do NOT know what that it is a low, rather than a high.



(12-17-2013 01:33 PM)fortyfor Wrote:  
(12-17-2013 09:48 AM)el mechanico Wrote:  I have a screenshot in my phone I sent to some friends BTC @ 483 a month or so ago. Holy shit 483!

The fundamentals show that the virtual hashes BTC that were pretending to be money, were and still are OVERVALUED like insanely crazy...

Of course BTC will continue to go down.

There is NO reason to ever go up again actually


FortyFor:

This is where YOUR prediction is LAME as LAME can get. I would like to take this bet, and what kind of odds are you gonna give me. I would do 100/1 that you are wrong, maybe even greater than that. BTC is going up again, and it is going up b/c there is a reason... several reasons.

BTC is going up as I write this post. I have been unable to buy all day b/c it has NOT gone below $670. The only way that BTC is going down is if there is some further govt intervention or corporate intervention or sabotage... otherwise.. it is going up... 99% sure about that.

Even if it stopped at $725, the current price, it is going to go up beyond $725. It is funny that you would have any credibility for stating an improbability as if that improbability were a certainty.


.
12-17-2013 02:10 PM
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fortyfor Offline
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Post: #778
RE: Bitcoins up 60% in less than a month
so many large financial newspapers have said exactly what Bitcoin is: a speculative bubble, virtual hashes, super expensive collections of worthless bits.

their real value: zero, they still have some value right now simply because they are in the news. that's all.

those 20 people who own almost 95% of bitcoins have enough money to still pump good news
in the media outlets

but soon it will all end

Bitcoins are backed by NOTHING.

and 96% of Bitcoins don't even ever move or get spent, they are just hoarded by speculators.

that's all
12-17-2013 02:41 PM
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chyamor Offline
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Post: #779
RE: Bitcoins up 60% in less than a month
nevermind
(This post was last modified: 12-17-2013 02:49 PM by chyamor.)
12-17-2013 02:48 PM
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JayJuanGee Offline
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Post: #780
RE: Bitcoins up 60% in less than a month
(12-17-2013 02:41 PM)fortyfor Wrote:  so many large financial newspapers have said exactly what Bitcoin is: a speculative bubble, virtual hashes, super expensive collections of worthless bits.

their real value: zero, they still have some value right now simply because they are in the news. that's all.

those 20 people who own almost 95% of bitcoins have enough money to still pump good news
in the media outlets

but soon it will all end

Bitcoins are backed by NOTHING.

and 96% of Bitcoins don't even ever move or get spent, they are just hoarded by speculators.

that's all

FortyFor:

There is nothing wrong with having an opinion and a prediction. Actually, I respect people who have both or either. However, your posts are increasingly demonstrating that you appear to be disingenuous with your sharing of information with RVF members.

In this post, you just cited several alleged facts, which are incorrect and inaccurate and misleading in order purportedly to support your argument(s) against BTC. After having had given you a chance to come clean, you have NOT. Therefore, I suspect that you are doing this on purpose.

I am NOT going to spend time and space to explain why each of your asserted facts in this post are incorrect, inaccurate and misleading.
12-17-2013 03:02 PM
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el mechanico Offline
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Post: #781
RE: Bitcoins up 60% in less than a month
I think the the decline is coming

255 btc sell in one second and it drops then the next minute 20btc are bought and it snaps back. Yeah right.
(This post was last modified: 12-17-2013 03:43 PM by el mechanico.)
12-17-2013 03:35 PM
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JayJuanGee Offline
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Post: #782
RE: Bitcoins up 60% in less than a month
(12-17-2013 03:35 PM)el mechanico Wrote:  I think the the decline is coming

255 btc sell in one second and it drops then the next minute 20btc are bought and it snaps back. Yeah right.

Sorry El Mech... YOU ARE THE GREATEST, but (and that's a big BUT) your statement still lacks specifics that would allow anyone to act with any certainty as to when and how much... though you are stating the direction of the movement (though you said the same thing yesterday at $650.. it's currently hovering at $690 - down within the last 60 minutes from $720)... you may be correct that we are going to suffer a period of downward movement.... but how much and for how long... etc etc.

Edit: BTW - have you been in dollars since yesterday at $723 or whatever that was that you had said that you sold? And, then when to get back in... ?
(This post was last modified: 12-17-2013 03:59 PM by JayJuanGee.)
12-17-2013 03:56 PM
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el mechanico Offline
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Post: #783
RE: Bitcoins up 60% in less than a month
^ How am I supposed to know? There is no specifics except I'm holding USD and waiting because I feel it going to go down. China is not buying/converting their money anymore. WTF are they going to do with bitcoins? The Gov is chopping every outlet out for them so?????? If you were Chinese what would you do?
12-17-2013 03:59 PM
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portofmanteau Offline
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Post: #784
RE: Bitcoins up 60% in less than a month
(12-17-2013 03:56 PM)JayJuanGee Wrote:  Sorry El Mech... YOU ARE THE GREATEST, but (and that's a big BUT) your statement still lacks specifics that would allow anyone to act with any certainty as to when and how much... though you are stating the direction of the movement (though you said the same thing yesterday at $650.. it's currently hovering at $690 - down within the last 60 minutes from $720)... you may be correct that we are going to suffer a period of downward movement.... but how much and for how long... etc etc.

Edit: BTW - have you been in dollars since yesterday at $723 or whatever that was that you had said that you sold? And, then when to get back in... ?


Mech has constantly said he's analyzing the Chinese using "greek villager logic" and going on hunches. No one can tell you exactly when something is going to rise/drop and by exactly how much; he's just telling you his hunch. So far his hunches have been pretty good and considering that they're hunches they're pretty specific - that's why I was encouraging to get a twitter, I'd say he's got a hot hand and we should ride it.

Edit: MechCoin TO DA MOON!
(This post was last modified: 12-17-2013 04:12 PM by portofmanteau.)
12-17-2013 04:11 PM
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el mechanico
pants Offline
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Post: #785
RE: Bitcoins up 60% in less than a month
Getting money out of china is difficult, so its always that.
12-17-2013 04:12 PM
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JayJuanGee Offline
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Post: #786
RE: Bitcoins up 60% in less than a month
(12-17-2013 03:59 PM)el mechanico Wrote:  ^ How am I supposed to know? There is no specifics except I'm holding USD and waiting because I feel it going to go down. China is not buying/converting their money anymore. WTF are they going to do with bitcoins? The Gov is chopping every outlet out for them so?????? If you were Chinese what would you do?

You may be correct that there may be some selling going on in China that reverberates to the BTC price. No problem with that prediction that there may be a little bit of a slow down... but as Pants infers, Chinese are used to dealing with legal difficulties. They are also a bit of a scoff law group. It is possible that BTC could be chopped in half by such, but none of us know at this point whether that will be the direction and/or extent..

Nonetheless, I am continuing to buy on the way down, if BTC continues going down. My last couple of buys were at $680-ish, but I have NOT yet bought the total of my daily minimum. In other words, I am under $200 for the day.

My next buy point is somewhere between $630 and $650, depending on how quickly BTC drops, if it does. The price is back up to $700.. so who knows... ?

I am NOT selling any of my holdings, even though at the moment, it appears that there are enough variables in place for a downward adjustment....
12-17-2013 04:28 PM
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el mechanico Offline
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Post: #787
RE: Bitcoins up 60% in less than a month
Why did fortyfor get banned? Is he the first casualty of crypto currency haters on the RVF?
12-17-2013 04:38 PM
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el mechanico Offline
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Post: #788
RE: Bitcoins up 60% in less than a month
[attachment=15979]
12-17-2013 06:23 PM
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JayJuanGee Offline
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Post: #789
RE: Bitcoins up 60% in less than a month


I really do NOT know how a guy is to read the information from that fiatleaks page (or the btcccast.com page) for its predictive value regarding the price of BTC.

Yes, of course, the momentum of the Chinese engaging in active trades does seem to be a factor that could be taken into in order to project UPs and DOWNs in the BTC price; however, if you look at the Blockchain (linked below), you can see that there has NOT been too much of a change in the total transactions. Of course a guy can play around with the timeline of the below linked chart and look at other charts within the blockchain data as well. We just have NOT been seeing much movement all day today.. so far.

https://blockchain.info/charts/n-transac...0&address=
12-17-2013 06:47 PM
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el mechanico Offline
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Post: #790
RE: Bitcoins up 60% in less than a month
[attachment=15980]

Tell me Jay Juan what is going on here.
12-17-2013 07:00 PM
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JayJuanGee Offline
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Post: #791
RE: Bitcoins up 60% in less than a month
(12-17-2013 07:00 PM)el mechanico Wrote:  Tell me Jay Juan what is going on here.

You are hilarious!!! I have NO fricken idea.

It represents some kinds of sales and purchases in BTC China exchange?

Do I get a smiley face for that response?

Smile
(This post was last modified: 12-17-2013 07:38 PM by JayJuanGee.)
12-17-2013 07:28 PM
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GameTheory Offline
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Post: #792
RE: Bitcoins up 60% in less than a month
China is putting the screws on Btc. so now what ???
12-17-2013 07:30 PM
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el mechanico Offline
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Post: #793
RE: Bitcoins up 60% in less than a month
Yeah that's what I said before so hold in USD they are trying to fuck us and ditch.
12-17-2013 07:59 PM
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Sourcecode Offline
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Post: #794
RE: Bitcoins up 60% in less than a month
im just gonna watch prices..when they stopp falling..ill buy a little more coin.

I went on a minivacation and missed a 200 dollar increase...should have sold and rebought

I am the cock carousel
12-17-2013 08:09 PM
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JayJuanGee Offline
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Post: #795
RE: Bitcoins up 60% in less than a month
(12-17-2013 08:09 PM)Sourcecode Wrote:  im just gonna watch prices..when they stopp falling..ill buy a little more coin.

I went on a minivacation and missed a 200 dollar increase...should have sold and rebought

SourceCode:

As seems to be my routine category of question with guys on this thread, how do you know when BTC's price stops falling? Do you get a text from El Mech? Smile Just kidding on that last part.
(This post was last modified: 12-17-2013 08:19 PM by JayJuanGee.)
12-17-2013 08:15 PM
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Sourcecode Offline
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Post: #796
RE: Bitcoins up 60% in less than a month
I actually give Ali some coin to monitor it for me
if it goes down..hold.
if it hover for over 2 hour..old
steady drop of at least 60 dollars..sell
steady increase of at least 60...buy
wait till the next drop and sell...wait for it to bottom how..buy more
repeat

i said it once before though
http://preev.com/

this site is a decent ticker

also charts
https://coinbase.com/charts

I am the cock carousel
(This post was last modified: 12-17-2013 08:41 PM by Sourcecode.)
12-17-2013 08:36 PM
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el mechanico Offline
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Post: #797
RE: Bitcoins up 60% in less than a month
(12-17-2013 08:15 PM)JayJuanGee Wrote:  
(12-17-2013 08:09 PM)Sourcecode Wrote:  im just gonna watch prices..when they stopp falling..ill buy a little more coin.

I went on a minivacation and missed a 200 dollar increase...should have sold and rebought

SourceCode:

As seems to be my routine category of question with guys on this thread, how do you know when BTC's price stops falling? Do you get a text from El Mech? Smile Just kidding on that last part.
I'll post my buy in here. Hey Jay, how many thousands would you have saved if you listened to me and ditched that plan of yours? I'm not gloating but all the signs are so obvious

If you want a text PM me your number
(This post was last modified: 12-17-2013 08:53 PM by el mechanico.)
12-17-2013 08:51 PM
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el mechanico Offline
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Post: #798
RE: Bitcoins up 60% in less than a month




Listen to this song it reminds me of what's happening now with Bitcoin.
12-17-2013 09:27 PM
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GameTheory Offline
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Post: #799
RE: Bitcoins up 60% in less than a month
(12-17-2013 07:59 PM)el mechanico Wrote:  Yeah that's what I said before so hold in USD they are trying to fuck us and ditch.

i meant long term ???
12-17-2013 09:31 PM
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el mechanico Offline
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RE: Bitcoins up 60% in less than a month
(12-17-2013 09:31 PM)GameTheory Wrote:  
(12-17-2013 07:59 PM)el mechanico Wrote:  Yeah that's what I said before so hold in USD they are trying to fuck us and ditch.

i meant long term ???
Long term = 12 hours right now
12-17-2013 09:46 PM
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