Interesting info here about an announcement expected in China on 15th April.

http://www.coindesk.com/btc-china-dismis...en-letter/

How to trade this?

(04-04-2014 02:32 PM)JJ Roberts Wrote:  Interesting info here about an announcement expected in China on 15th April.

http://www.coindesk.com/btc-china-dismis...en-letter/

How to trade this?

buy

bought for the first time from an ATM today

http://genesiscoin.com/

experience was good. QR are a bitch to scan though

(04-04-2014 06:27 PM)brg444 Wrote:  buy

What I mean is that is it wise to expect a price drop when the announcement comes out or has the FUD and recent price drop mean that the bad news has already been taken into account in the BTC price?

I mean if we are expecting BTC to go down then it makes sense to sell some now and buy them back on the 15th / 16th at the lower prices.

(04-04-2014 06:28 PM)brg444 Wrote:  bought for the first time from an ATM today

http://genesiscoin.com/

experience was good. QR are a bitch to scan though

What City? Are you in Canada? Are there a lot of bitcoin ATMs in Canada? What was the bitcoin price and the exchange rate cost? I mean was the bitcoin price similar to the price on a major exchange? Were you charged a 2 or 3% fee?

(04-04-2014 07:17 PM)JJ Roberts Wrote:  

(04-04-2014 06:27 PM)brg444 Wrote:  buy

What I mean is that is it wise to expect a price drop when the announcement comes out or has the FUD and recent price drop mean that the bad news has already been taken into account in the BTC price?

I mean if we are expecting BTC to go down then it makes sense to sell some now and buy them back on the 15th / 16th at the lower prices.

Very risky to be selling BTC, now... but we each come to our own judgements about what is going to happen to the price... and whether we believe it is worth the risk to sel and to buy lower. Surely that can be very profitable, but very risky, too... . I sleep much better in BTC than I do in fiat.... b/c I do NOT know when the price is going to skyrocket upward and then leave this mid-$400 price territory forever.

I have bought about 13BTC in the last about 3 weeks, when the price was $610 and all the way down to $418. Each time, I thought that the price may NOT go lower, and I need to stock up.... Then the price went lower. Certainly, I would have preferred to buy all of my BTC at $418... but I have NO real idea about the price direction. and I would rather error on the side of stocking up.... even though my average BTC buy price is higher than what it could be if I had waited.... but if the BTC price would have taken off, then I would NOT have been stocked up.

(04-04-2014 02:32 PM)JJ Roberts Wrote:  Interesting info here about an announcement expected in China on 15th April.

http://www.coindesk.com/btc-china-dismis...en-letter/

How to trade this?

In my opinion whatever happens in the 15th of April has already been calculated into the price. I believe BTC infrastructure in China is less than in the US and Europe and there is no reason to buy BTC for a Chinese than to speculate. In the west other things like Silk Road or similar might get people to buy.

Bitcoin will survive without China but it would be a big lose for China if they are not allowed to trade bitcoins. And even if there is no online exchange to trade bitcoins in China, people who still wanna buy still will in one way or another.

The most bullish news about bitcoins is from country's with strong and stable economy already, like Australia, Canada, Scandinavia, Germany, Switzerland and so on.

China has been leading the price first in buying panic in Novermber taking us to $1200 and now down to $400 in panic selling.

The lack of people with skills in both English and Chinese is a big problem when China controls the price. Is it just be or is biggest changes in price during China business hours?

(04-04-2014 08:07 PM)JayJuanGee Wrote:  What City? Are you in Canada? Are there a lot of bitcoin ATMs in Canada? What was the bitcoin price and the exchange rate cost? I mean was the bitcoin price similar to the price on a major exchange? Were you charged a 2 or 3% fee?

I'm in Quebec city. This is the one and only ATM in the city, closest one is in Montreal. I think there's more in Vancouver.

There was a 5 % fee which I feel is too much. On the other hand I had the chance to speak with the owner and it is kind of a big gamble for him and these things cost 15k so he has to earn his money back somehow. I expect the fees to go down once competition enters the market.

All that said, nothing beats the convenience of just going to an ATM to deposit/withdraw BTCs. No waiting on wire transfers and what not. I will use it again

Also, the ATM is located in an hostel and I couldn't help but think how convenient this is for travelers.

(04-05-2014 11:48 AM)brg444 Wrote:  

(04-04-2014 08:07 PM)JayJuanGee Wrote:  What City? Are you in Canada? Are there a lot of bitcoin ATMs in Canada? What was the bitcoin price and the exchange rate cost? I mean was the bitcoin price similar to the price on a major exchange? Were you charged a 2 or 3% fee?

I'm in Quebec city. This is the one and only ATM in the city, closest one is in Montreal. I think there's more in Vancouver.

There was a 5 % fee which I feel is too much. On the other hand I had the chance to speak with the owner and it is kind of a big gamble for him and these things cost 15k so he has to earn his money back somehow. I expect the fees to go down once competition enters the market.

All that said, nothing beats the convenience of just going to an ATM to deposit/withdraw BTCs. No waiting on wire transfers and what not. I will use it again

Also, the ATM is located in an hostel and I couldn't help but think how convenient this is for travelers.

I had heard that some of the ATMs only allow one way... that is to purchase BTC. It is nice to hear that the one that you used offers both. Certainly seems that it could work for some people and some situations, and I was thinking that it could work for the chinese exchanges - even though they would likely NOT want to spend 5% .. .. and that 5% becomes 10% if you have to use it both ways.

The guy has to do $300,000 in volume, just to recoupe his initial $15k start up cost. Maybe his operational costs would be a wash if it ends up that he attracts more customers to his business?

From a purely technical perspective, it looks like an uncontained selling spree. I see slight supports at $400 and $300 with pretty solid support at around $200. Since I'm long term bullish on this, I'll be looking at an entry in the very immediate future. We're seeing lower lows, but the accompanying volume is decreasing, so that's a good sign.

To be certain, these are major losses from the top, but for anyone with a long term outlook, the risk profile and price is coming more into line.

An interesting incentive might be for business owners to offer discounts for bitcoin payment. Considering the fees they normally have to pay, this would be a win-win all around.

http://bitcoincharts.com/charts/bitstamp...10zm2g25zv

I use human ATMS. You can find them on http://www.localbitcoins.com - buy & sell, lots of them per city, and I've never paid fees.

(04-06-2014 12:13 AM)Apollo Wrote:  From a purely technical perspective, it looks like an uncontained selling spree. I see slight supports at $400 and $300 with pretty solid support at around $200. Since I'm long term bullish on this, I'll be looking at an entry in the very immediate future. We're seeing lower lows, but the accompanying volume is decreasing, so that's a good sign.

To be certain, these are major losses from the top, but for anyone with a long term outlook, the risk profile and price is coming more into line.

An interesting incentive might be for business owners to offer discounts for bitcoin payment. Considering the fees they normally have to pay, this would be a win-win all around.

http://bitcoincharts.com/charts/bitstamp...10zm2g25zv

You know that we are all speculating here in this thread, somewhat about the direction of BTC prices, and certainly you could be as correct about your price direction speculation (or more correct) than others in this thread.

Surely, there are a lot of guys in this thread who are very bullish regarding the future potential of BTC (and its prices).. including myself.. if you have seen my previous posts; nonetheless, good luck if you believe you are going to be getting into BTC in the $200 price range - absent some kind of flash crash.

I think that overall you are correct about low volume on the various BTC exchanges; however, there is also some BTC buying, trading and transactional activities that are taking place off of the exchanges. And, yes some of the recent and ongoing scandals are also nerve racking, including what appears to be that the NEO & Bee executive running off with 12,000 of investors' BTCs.

I certainly do NOT have any crystal ball regarding BTC price direction, and I am NOT sure about what to expect exactly regarding BTC prices. I would be surprised, though if bitcoin prices were to go below $400 within the next week or two, absent some additional and amazing negative news......

I will concede there are some pretty big stories in bitcoin, and the negative news seems to have a tendency to disproportionately bring down BTC prices much more than any positive news in BTC brings prices up. I have my doubts about whether your assessment of Bitcoins risk/price profile is correct - but surely each of us is entitled to his opinion(s) regarding when and how much to invest in any asset.


Since BTC prices are currently floating in the mid $400 territory, these prices could sky rocket at any time as well. Many in the BTC sphere are still predicting BTC prices to reach $2k within 2014... (whether that is pie in the sky, I do NOT know) and it is likely if we begin to go down that road of escalating BTC prices, then any BTC prices below $1,000 are going to look like bargain basement prices.

Personally, you have a right to come to your own judgement regarding what you are going to do and when or if you are going to invest, but I would NOT bank on waiting for any kind of $200 price point, and it may be worth it to bank a little into BTC at the current $450 price so you are NOT left behind in the event that BTC prices do go suddenly upwards... and there are a lot of reasons to believe that BTC prices could depart upwards at any moment and unannounced.

Oh by the way what would be your timeline for buying BTC, if you were to buy? within the next month? six months? Do you have various scenarios in mind that would cause you to buy BTC at various price points? How much would you buy? Have you thought about probabilities that BTC prices will drop to points that you believe are more within your willingness to buy? I would imagine that a lot of this depend on news developments, I suppose, but each of us probably have various visions regarding any investment that we make or that we are considering to make.

Also, I do appreciate that you linked to a longer term presentation of BTC's prices (over a one year period) rather than showing BTC prices from some random point on or after December 2013 - which is a frequent fallacy, when I see people suggesting that BTC prices are "overvalued."

Ouch! Here are your cheap coins guys!

Strong reaction of the bitcoin just based on shutdown notices of banks in China and the Australian National Banks announcement no? Wait for the 15th I guess and then buy more perhaps?

(04-06-2014 01:59 AM)JayJuanGee Wrote:  I would be surprised, though if bitcoin prices were to go below $400 within the next week or two

It's at 395 now. Next support level looks like 350.

(04-10-2014 02:10 PM)JJ Roberts Wrote:  

(04-06-2014 01:59 AM)JayJuanGee Wrote:  I would be surprised, though if bitcoin prices were to go below $400 within the next week or two

It's at 395 now. Next support level looks like 350.

Yes.. should go without saying that I am "_____"

Actually, I ran out of funds in my bank, and I am unable to buy any more until maybe tomorrow when my deposit arrives.

(04-10-2014 02:54 PM)JayJuanGee Wrote:  Yes.. should go without saying that I am "_____"

Actually, I ran out of funds in my bank, and I am unable to buy any more until maybe tomorrow when my deposit arrives.

I sent funds a week ago specifically so I have funds on hand right now (and I have been using them)

Bought at 450 and 400. Have a limit order at 350 for more.

(04-10-2014 02:54 PM)JayJuanGee Wrote:  

(04-10-2014 02:10 PM)JJ Roberts Wrote:  

(04-06-2014 01:59 AM)JayJuanGee Wrote:  I would be surprised, though if bitcoin prices were to go below $400 within the next week or two

It's at 395 now. Next support level looks like 350.

Yes.. should go without saying that I am "_____"

Actually, I ran out of funds in my bank, and I am unable to buy any more until maybe tomorrow when my deposit arrives.

Yeah... I kind of fell behind on some of these deposit sufficiency matters b/c I have always had enough dinero in my account... Then I got caught up with taxes... and I let my attention to my account balance slip... so by the time, I tried to get money over to my account, its NOT happening quickly enough.

Who knows how long this downward trajectory will last, but if the price keeps dropping, then NO big deal about NOT having funds in my account today.

At the moment, there does seem to be quite a bit of downward price momentum, yet these kinds of momentum trends can also reverse very quickly, too.

i have no idea where this is going


all I know is I'm gonna try to catch the falling knife again and get more Bitcoin at these prices

I have a utopic theory that BIG players are driving the prices down trying to get as many cheap coins as possible before the rocket to the moon.

There are reports of institutional pockets wanting in. If that's the case, they have the necessary liquidity to fuck around with the market until we reach a point where everyone is comfortable jumping in and all the "off exchange" coin reserves are expired

China 124btc in 5 minutes on fiatleak. I guess we fingered out that it counts sales. I'm still all in and losing my azz but fuck it. I want it to drop to 75 bucks and let China get screwed then we can build it up again.

Also this is an eye opener for me as to how big of haters some governments are. Like Bitcoins are really going to screw the Chinese money.

Other than that I may be switching to a risky alt coin if it gets real low.

350! Damn

(04-10-2014 06:44 PM)el mechanico Wrote:  350! Damn

Aint gone below 357

I have a market buy order at 350 which has not gone through

I had a smaller one at 360 which just went through though

If it goes through 350, next significant support is probably not in dollar but is in Yuan bearing in mind this price movement is mostly a Chinese issue

2,000 Yuan per BTC is a significant psychological barrier and that is about 321 USD

[attachment=18074]

Yup, my limit trade at 350 just went through.

I don't know what to say, either.

I did receive $600 into my bank account, and I am supposed to receive another $3,000 - most of it tomorrow. If I knew for sure that this is the bottom, then I would buy with what fiat i have. I get anxious and my fingers on the buy button.

However, I suspect that we could have further lows over the weekend b/c the whales seem to take advantage of the weekends to dump (b/c it is unlikely that any new fiat will be coming though on the weekends). However, this weekend may be a different story, since there was a signal that may allow investors to get their fiat onto exchanges before the weekend. in preparation for price battles.. but I would NOT expect any skyrocketing of prices before Monday or Tuesday of next week.... just making a best guess out of a seemingly manipulated situation.

Some are projecting prices into the double digits, and that seems like a real stretch to go that far down (though surely NOT impossible).

I do have a sense that we may get a skyrocketing upward at some point , but these low prices can shake coins out of weaker hands and also provide opportunities, as mentioned by Brg444, for big whales to purchase coins off the exchanges at lower prices. However at some point they are going to run out of coins off of the exchanges and that will cause prices to go up.

My worst fear is that we may get bled down more next week with some more negative news (and overreactions to such negative news).