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JayJuanGee · 2016-02-14 16:16:00 · #2532
The upward BTC price trend over the past few days (from upper $370s to lower $400s) seems to be a good sign.

I am not sure about whether such upward trend is solid, though because the trade volume remains relatively mediocre.


Therefore, it seems to me that anyone with 10K coins on bitstamp would be fairly (or at least potentially) capable of arresting or reversing the upward price direction.
SunW · 2016-02-16 15:05:00 · #2533
HA HA HA HA HA HA HA.

Right on Roosh!
JayJuanGee · 2016-02-16 17:00:00 · #2534
(02-16-2016 03:05 PM)SunW Wrote:  HA HA HA HA HA HA HA.

Right on Roosh!


O.k. Maybe he is coming around again regarding accepting bitcoin?

If he transitions over to accepting bitcoin, then I will look forward to an update to the gold/silver membership page. Maybe also at some point, he will find that bitcoin is becoming more and more useful in a lot of various ways, even though sometimes, there can be various spending obstacles and a bit of a learning curve to set up secure and user-friendly wallet options.
JayJuanGee · 2016-02-16 19:33:00 · #2535
(02-14-2016 04:16 PM)JayJuanGee Wrote:  The upward BTC price trend over the past few days (from upper $370s to lower $400s) seems to be a good sign.

I am not sure about whether such upward trend is solid, though because the trade volume remains relatively mediocre.


Therefore, it seems to me that anyone with 10K coins on bitstamp would be fairly (or at least potentially) capable of arresting or reversing the upward price direction.


Over the weekend, in other bitcoin forums and my related posts, I had suggested that I thought that there was a decent probability that bitcoin prices could go into the $420 to $430 price range by the early part of this week... but yeah, maybe I had predicted that as a 57% chance of up or 43% chance of down price prediction... and 14 point spread may be about as daring as I like to get in this kind of a market.



Currently, we got bitcoin prices pushing up against 3-4 week highs in the $407 to $409 price arena, and at this time, this upward price pressure is continuing on fairly low volume, which is seeming to support that we may be witnessing some additional upward price movement in the next 24 to 48 hours.

Hahaha. I am not expecting much if any credit for any kind of prediction, because I have been merely attempting my best guestimations to engage in reasonable price direction predictions.

There still remains some resistance towards further upwards price movement, so maybe I would venture to guess (at this point, as I type) a 25% or so probability that prices will go into the $415 to $430 range within the next 24-48 hours.

If someone has a better approximation, based on facts not earlier considered, then I would be interested in hearing about it. Blush
JayJuanGee · 2016-02-19 04:45:00 · #2536
(02-16-2016 07:33 PM)JayJuanGee Wrote:  
(02-14-2016 04:16 PM)JayJuanGee Wrote:  The upward BTC price trend over the past few days (from upper $370s to lower $400s) seems to be a good sign.

I am not sure about whether such upward trend is solid, though because the trade volume remains relatively mediocre.


Therefore, it seems to me that anyone with 10K coins on bitstamp would be fairly (or at least potentially) capable of arresting or reversing the upward price direction.


Over the weekend, in other bitcoin forums and my related posts, I had suggested that I thought that there was a decent probability that bitcoin prices could go into the $420 to $430 price range by the early part of this week... but yeah, maybe I had predicted that as a 57% chance of up or 43% chance of down price prediction... and 14 point spread may be about as daring as I like to get in this kind of a market.



Currently, we got bitcoin prices pushing up against 3-4 week highs in the $407 to $409 price arena, and at this time, this upward price pressure is continuing on fairly low volume, which is seeming to support that we may be witnessing some additional upward price movement in the next 24 to 48 hours.

Hahaha. I am not expecting much if any credit for any kind of prediction, because I have been merely attempting my best guestimations to engage in reasonable price direction predictions.

There still remains some resistance towards further upwards price movement, so maybe I would venture to guess (at this point, as I type) a 25% or so probability that prices will go into the $415 to $430 range within the next 24-48 hours.

If someone has a better approximation, based on facts not earlier considered, then I would be interested in hearing about it. Blush



Based on our recent BTC price action, I am going to attempt to venture another BTC price prediction.

I would suggest that currently, we largely seem to be within about a $400 to $425 price channel, and how long will that last, I am not sure. Could be short or could last several weeks.

I do tend to think that we are getting some upward price pressures and generally people are no longer buying some of the forking propaganda and the block size limit bullshit.. and also realizing generally that core has a pretty decent, conservative and reasonable plan forward. If you want me to cite some kind of source, here than let me know.

I kind of thought that we could have gotten enough upward price momentum to break out in the upper direction towards the upper $420s and maybe even into the $430s, but it is possible that we are not ready yet, and the trade volume has not really picked up very much, but now after a little lingering in the lower $420s and then a bit of a shooting down to $414, I am wondering about whether we may stay in this $400 to $425 price channel all weekend....

never say never in bitcoinlandia, and surely in the morning, I could be awoken to another price alarm of prices shooting upward and out of the price range.

Also, we could break slightly beyond on the upside or towards the downside for short periods.

I am kind of thinking that maybe there is some needs for attempts at profit taking and to test the downward resolve, and in that regard, prices may break down first over the weekend, and then possibly get stuck back in a similar channel before breaking up, later down the road?

If we do not break down over the weekend and stay above $410 all weekend, then that outcome would probably be fairly bullish and be a sign that chances are pretty decent that the next break out of the channel is going to be upwards, rather than downwards.. and bring us, possibly, towards testing the upper $460s again.

Maybe that is a bit of a lame and all over the place prediction, but since my BTC price alarms woke me up at $414 (and then prices bounced almost immediately back over $416), I thought that I should write a few thoughts before hitting the sack again.
JayJuanGee · 2016-02-20 06:54:00 · #2537
Seemingly, even a bit more bullish than even I anticipated.....

Next stop, possibly in the upper $460s, but just to be safe, I will probably continue to sell reasonable amounts along the way in reasonable intervals, just in case we get a some retracement along our way to the test of the upper $460s.

Actually, it could take some time to get to the $460s .... still a bit of a mystery to me. Undecided
JayJuanGee · 2016-02-20 17:31:00 · #2538
(02-20-2016 06:54 AM)JayJuanGee Wrote:  Seemingly, even a bit more bullish than even I anticipated.....

Next stop, possibly in the upper $460s, but just to be safe, I will probably continue to sell reasonable amounts along the way in reasonable intervals, just in case we get a some retracement along our way to the test of the upper $460s.

Actually, it could take some time to get to the $460s .... still a bit of a mystery to me. Undecided


I think that the roundtable consensus could explain some of Bitcoin's upwards price movement of the past 12 hours.


https:[email protected]/bi....7y8z50und

Although, i think that a lot of folks still consider the commitment contained within the agreement to be too tentative and too far off. Namely that an increase in the blockchain could be between anywhere from 1 mb to 2 mb or even up to 4mb by July 2017 if there is enough support in the community for such an increase.

Surely, such an increase is not certain, but seems to allowed for some guidance and commitment and clarity regarding a likely roadmap for the coming year in bitcoinlandia.

surely there are other macroeconomic factors that may also be contributing to this price movement, and I am still thinking that we may have to get some correction to the recent price move into the $420s and then maybe even another test of the upper $460s in the coming week, if not sooner than a week. Trade volume has picked up a bit, but still is bordering on average levels of quite below 15k btc (in 24 hours on bitstamp) to be in the materially significant arena.
CleanSlate · 2016-02-22 20:31:00 · #2539
I'm considering stashing some portion of my savings into bitcoin, as a hedge against the US dollar. Not worried about privacy yet, just want to hedge my currencies a bit. Anyone doing the same thing or is this a bad idea?
JayJuanGee · 2016-02-22 21:00:00 · #2540
(02-22-2016 08:31 PM)CleanSlate Wrote:  I'm considering stashing some portion of my savings into bitcoin, as a hedge against the US dollar. Not worried about privacy yet, just want to hedge my currencies a bit. Anyone doing the same thing or is this a bad idea?


My sense is that most of the participants of this thread have considered bitcoin as a potential hedge against the dollar; however, there are some guys who have tried to make lots of money on bitcoin by timing the price movements and to buy and sell according to those predictions, which may or may not have worked in their favor.

Of course, the performance of bitcoin over the past couple of years brought some ambiguous thoughts on the topic of whether bitcoin is a good hedge against the dollar and concerns whether bitcoin is a good long term investment.

Some people may consider gold and silver or other precious metals to be better in regards to hedging against the dollars.. but personally, I am not so convinced about that, and I really like the mobile aspects of bitcoin (even though you cannot place it in your hand and make it shiny).

If you look through some of my posts in this thread, you will see that my perspective is very much dollar cost averaging in order to accumulate bitcoin to hedge against the dollar, more or less like you mentioned.

I think, for me personally, I accomplished a large majority of my BTC accumulation in 2014, and maybe now, I am not accumulating as much BTC but maintaining some ongoing percentage of mine in BTC and trading in order to attempt to prepare for price movements in either direction, and I personally believe bitcoin is a better investment than gold or silver, so I may not be the best person to ask on that topic.

For you CleanSlate, when did you start accumulating BTC, in what kinds of other investments do you have your money, and what are the approximate percentages in various investments?

I have around 10% of my total quasi-liquid assets in various bitcoin trading funds, and within my various BTC trading funds, currently, I have about 95% of the totals of the funds in bitcoin and 5% in dollars.... so hopefully, I remain somewhat prepared for Bitcoin's price to go in either direction to sell BTC on the way up (in less than 30% of my profits intervals) and to buy on the way down (with whatever I had sold on the way up), so hopefully, overall by the end of the year keeping my total amount invested in to BTC about the same as it was at the beginning of the year.

Actually, I just started this practice in October 2015..

Anyone else has BTC hedging stories?
CleanSlate · 2016-02-22 21:56:00 · #2541
(02-22-2016 09:00 PM)JayJuanGee Wrote:  For you CleanSlate, when did you start accumulating BTC, in what kinds of other investments do you have your money, and what are the approximate percentages in various investments?

I haven't started accumulating BTC yet. I see plusses and minuses for both BTC and gold/silver. BTC is volatile and totally dependent on electrical power and internet, but has potential as a hedge or long term investment. Gold/silver is tangible and proven as a hedge, but is impractical to carry around and can be confiscated by the government.

Right now:

- All of my money is denominated in US dollars.
- No debt.
- No tangible assets like real estate.
- 401k in the low 6 figures, Roth IRA in the low 5 figures... all of my stocks and mutual funds diversified across a few different industry sectors (includes one of those gold indices) are in those tax-advantaged accounts.
- Liquid savings that can carry me for a while (think 18 months living expenses in the US, or conservatively 3+ years in EE, LA, SEA)

Together, the 401k and Roth adds up to 75% of my net worth, and my savings is the other 25%.

I was thinking of allocating 10%, maybe 20% tops, of my savings into BTC...
JayJuanGee · 2016-02-22 22:22:00 · #2542
(02-22-2016 09:56 PM)CleanSlate Wrote:  
(02-22-2016 09:00 PM)JayJuanGee Wrote:  For you CleanSlate, when did you start accumulating BTC, in what kinds of other investments do you have your money, and what are the approximate percentages in various investments?

I haven't started accumulating BTC yet. I see plusses and minuses for both BTC and gold/silver. BTC is volatile and totally dependent on electrical power and internet, but has potential as a hedge or long term investment. Gold/silver is tangible and proven as a hedge, but is impractical to carry around and can be confiscated by the government.

Right now:

- All of my money is denominated in US dollars.
- No debt.
- No tangible assets like real estate.
- 401k in the low 6 figures, Roth IRA in the low 5 figures... all of my stocks and mutual funds diversified across a few different industry sectors (includes one of those gold indices) are in those tax-advantaged accounts.
- Liquid savings that can carry me for a while (think 18 months living expenses in the US, or conservatively 3+ years in EE, LA, SEA)

Together, the 401k and Roth adds up to 75% of my net worth, and my savings is the other 25%.

I was thinking of allocating 10%, maybe 20% tops, of my savings into BTC...


One more thing that you left out is salary and or incoming money (which I assume is in dollars).

Surely, BTC is in a much better place right now, as compared to when I began investing in it, and therefore, probably, it would be safe to be a bit more aggressive than I was in terms of your "all out" allocation of a fairly decent percentage into BTC.

For me, since I started in BTC in late 2013, and prices were on an ongoing basis going down, I more or less spread my investment into BTC over a year, but then due to some other (quasi-unrelated) cash flow issues that I suffered in early 2015, I kind of had to stop for a short period and also to slow down some of my investment into BTC (probably during the better times to have bought into BTC).

Anyhow, if I were you, I would somewhat consider the total amount that you are thinking about putting into BTC, and consider a plan for spreading such investment over 1-4 months. The amount of time that you spread it, of course, will depend on your view of bitcoin, your risk tolerance and possibly how you are planning to get your BTC.

Surely, you may be more willing to just plug in, right away, but that may be a bit much and risky.

At minimum, If I were in your shoes, I would likely consider dividing the first 10% into three bundles (at least categorizing as such) - and then consider how you are going to invest each of those three bundles - whether right away or dollar cost averaging or some other trading plan.

I would then also consider the second 10% - the portion from 10 to 20% that you are a bit hesitant to invest into BTC. I would also divide that into three bundles that you would consider investing into BTC after you invest (or put to work) the first 10%... and that second 10% may be considered to be invested (or not) contingent upon the unravelling or occurrence of certain events. I think that a total of 20% is a lot, but surely, it sounds as if you have some decent reasons in your head and some decent diversification, already, in your various investments.

You may want to consider property, but maybe you are similar to me, in that you are attempting to keep from being to tied down and illiquid, which is one of the downsides of property (and even some business ventures, which I currently have some quasi-illiquid problems related to some of my current business holdings).
CleanSlate · 2016-02-22 23:17:00 · #2543
Thanks Jay, good info!
JayJuanGee · 2016-02-22 23:28:00 · #2544
(02-22-2016 11:17 PM)CleanSlate Wrote:  Thanks Jay, good info!

Sure, no problem....

I hope that you can continue to post in this thread, for example, how you are progressing, etc.

Do you happen to know yet, from where you are going to get your BTC and whether you will be paying fees and how much BTC you can get at a time?

Two of the most common (and relatively inexpensive ways) to begin to accumulate BTC in the US is through Coinbase and Circle, but certainly there can be some other ways to accomplish getting BTC more cheaply, but may take longer to set up and to send money (Uphold is free, but takes a while to get dollars there in order to buy coins) (which in the end, time could end up being a factor, too).

In the past couple of weeks, I had some people contact me through local bitcoins to obtain bitcoins from me, and they can surely get their coins cheaper if they know of other avenues, but they don't mind paying somewhat of a premium because they are in a rush to get some coins. I don't advise them too much regarding cheaper ways to get bitcoin because I want to sell to them some coins at a bit of a premium (which may or may not work out well for them in terms of fees, but it is a quick way to get started, and that is how I got my first coins while I was awaiting for my bank to get verified.).

Also, sometimes, you could go to a bitcoin meet up or find a friend who has some BTC, and sometimes, some people may be willing to sell some without much if any premium... that would likely be a more of a short term rather than a long term way to begin accumulating BTC.
dispenser · 2016-02-23 00:36:00 · #2545
Observation.
China has a history of currency control and internet censorship.

Can they cut off the local BTC networks from the outside world, or force the use of a parallel digital currency within their borders?

Could provide a model for other countries that want to control the currency in use.
JayJuanGee · 2016-02-23 01:10:00 · #2546
(02-23-2016 12:36 AM)dispenser Wrote:  Observation.
China has a history of currency control and internet censorship.

Can they cut off the local BTC networks from the outside world, or force the use of a parallel digital currency within their borders?

Could provide a model for other countries that want to control the currency in use.


There has been quite a bit of fearmongering around that topic in recent months - and yes, that kind of fearmongering goes in spurts.

People suggest that China is going to nationalize mining operations in their country, or there are assumptions that chinese miners are going to cooperate in allowing some kind of 51% attack, etc etc etc.

A lot of this speculation, is just that speculation that makes little to no sense, if you actually attempt to think it through to its various logical conclusions.

I would not mind having a conversation on such speculation if the scenario were to be described with more specificity and more realistic probabiliies rather than just fear mongering.

For example, the claim that China is going to nationalize all of the bitcoin mines is a kind of bullshit that assumes that the owners of those mines are going to cooperate or not attempt to move or to hide or to shut down their mines in some kind of way with the chinese government and hand over their wealth, keys passwords.. blah blah blah... Makes little sense, when you really think through those various speculative scenarios.

Dispenser: Do you have some more meaningful and specific scenario that you believe could be realisitcally carried out within bitcoin's peer to peer system that also allows outsiders to divert and not recognizing instabilities that could come about within china for example?
dispenser · 2016-02-23 01:27:00 · #2547
(02-23-2016 01:10 AM)JayJuanGee Wrote:  Dispenser: Do you have some more meaningful and specific scenario that you believe could be realisitcally carried out within bitcoin's peer to peer system that also allows outsiders to divert and not recognizing instabilities that could come about within china for example?

No. That's why I asked that apparently sensitive question.

But giving it some thought, I assume the Chinese would just kill the system outright without trying to nationalise it.
Isn't the chief benefit of BTC its lack of centralised control, something the Chinese government values very much?
JayJuanGee · 2016-02-23 02:07:00 · #2548
(02-23-2016 01:27 AM)dispenser Wrote:  
(02-23-2016 01:10 AM)JayJuanGee Wrote:  Dispenser: Do you have some more meaningful and specific scenario that you believe could be realisitcally carried out within bitcoin's peer to peer system that also allows outsiders to divert and not recognizing instabilities that could come about within china for example?

No. That's why I asked that apparently sensitive question.

But giving it some thought, I assume the Chinese would just kill the system outright without trying to nationalise it.
Isn't the chief benefit of BTC its lack of centralised control, something the Chinese value very much?


I don't mind the question and exploring the topic, even if it is somewhat speculative, and surely some guys with more knowledge could chime in at any point.

I have been studying bitcoin fairly intensively for more than two years, and there is a lot that I do not know, and I am continuously learning, and even learning from others who have been in the Bitcoin space a lot longer than me, and frequently even with very experienced folks in the space, there is a broad array of perspectives (some perspectives being better than others, of course).

With any fearmongering rumors, there is going to be some truth to them (and/or some plausibility) - otherwise, the fearmongering and the rumors would not be very effective in order to inspire fear and lack of confidence in the stability of bitcoin (or lack thereof).

Regarding miners, the data is not exactly public regarding where they are located and who they are controlled by and whether a bunch of mines could be owned by the same person. Surely some people disclose the scope of their mining operations and participation in pools, and yes pools are much more dominant than individuals in the mining scene, but there are both with sometimes lots of power in pools and some questions regarding ownership and controls of pools.

There is both diversity and potential for lack of diversity in the bitcoin mining space and its overall humongous hashing power (taken together), and when some of this hashing power is accomplished in quasisecretive manners (or even not so secretly) a large number of mines could potentially come under the concentration of a narrow number of people or even one person in some scenarios (stealthily), but also there are so many people around the world who are feeling more invested in bitcoin and its decentralization that groups form to oppose various efforts at centralization... and really, for example, these latest attempts in past 6 months at introducing classic and xt seem, in my mind serve as demonstrations of community action and skepticism and community ganging up against attempts to take over bitcoin (that largely were initiated with a smaller group of people with attempts at force). Accordingly, aims at changing governance and to force hardforks, merely for the sake of forcing hardforks, seemed to be more attempts at coups rather than consensus on to the whole protocol and practices of bitcoin.

These kind of smaller group attempts could come from a variety of angles, whether it is fear of the chinese entities or some other groups; however, the chinese do not really seem to be any kind of current problem (except maybe recently there have been assertions that the chinese are representing bitcoin core - which does not seem to be a bad thing).

Even bitcoin could lose some of its initial vision, I don't think it is so easy for bitcoin to get lost or taken over by some rogue force, because there is a very diversified stake and continuous study of bitcoin by a lot of stakeholders (that are continuing to come into the space and to build upon bitcoin as it evolved and matures)

Sometimes, there are assertions that a lot of the miners and mining farms are in china.. and even that is not completely clear regarding where they are, exactly... o.k... fair enough.

There are a variety of tactics that the Chinese could attempt as a group of individuals and as a government input into bitcoin in order to either attempt to destroy bitcoin or attempt to co-opt it, but in the end, just because the chinese may have varying incentives to attempt to do these kinds of things, it doesn't mean that they could practically be successful in carrying out some of the efforts without either being unable to control the bitcoin space within or alternatively outsiders catching onto the phenomenon and diverting mining efforts or the recognition of the mined blocks, which could cause forks and confusion, but still nonetheless remains very speculative, at the moment.

Bitcoin is designed to be trustless and assumes a variety of nepharious actors, and some of this nephariousness is going to be attempted through the years of bitcoin. It has already been attempted a number of times, and even if we do not know how various undermining scenarios and attacks are going to play out, we should still consider making our bets on whether bitcoin is going to be a success or a failure based on more likely scenarios, rather than based on less likely scenarios.

Surely, you are free to come to your own conclusions about likeliness of various nepharious scenarios playing out (and sources that are describing some of the far fetched scenarios), and then make a decision regarding your involvement / investment (or not) in bitcoin based on what you believe to be more likely.

In any event, probably, I am not explaining my scepticism very well, but frequently when I hear about a lot of these chinese scare scenarios they are more based in fantasy, fear of foreigners, partly true stereotypes of chinese faking everything and impracticality rather than based on scenarios that are very likely to play out in the real world of bitcoin as we know it today.

Regarding, bitcoin, government entities are all over the place regarding whether they support bitcoin or are opposed and one branch is not talking with another, and they have various incentives to undermine bitcoin and not to really accept it or to allow it to get too big.. but in the end, just like tor, they cannot really control it completely.. just like the internet, they cannot control it completely. It's not only the chinese government, but the us government, venezuela, Argentina... and a lot of governments, and on an ongoing basis there have been various kinds of attacks and attempts to undermine bitcoin (local and national).

Ultimately today bitcoin seems to be doing quite well under a variety of scenarios, even though regulation, criminalization and even passive aggressive behaviors of various governments towards bitcoin is ongoing and mixed... the good, bad and the ugly coming from governments, financial institutions, etc... and bitcoin remains the honey badger that keeps on.
Isaac Jordan · 2016-02-24 10:31:00 · #2549
Princeton has put out a free Bitcoin textbook:

Quote:The first complete draft of the Princeton Bitcoin textbook is now freely available. We’re very happy with how the book turned out: it’s comprehensive, at over 300 pages, but has a conversational style that keeps it readable.

If you’re looking to truly understand how Bitcoin works at a technical level and have a basic familiarity with computer science and programming, this book is for you. Researchers and advanced students will find the book useful as well — starting around Chapter 5, most chapters have novel intellectual contributions.

I haven't read it yet, but it's hard to beat free. If anyone else ends up reading, please share your thoughts with us here.
CleanSlate · 2016-02-24 11:39:00 · #2550
Downloaded the book and saved it, in case they decide to have people pay for it, or pull it altogether.
Deepdiver · 2016-02-24 11:49:00 · #2551
Great timing on the Princeton book - local major financial firm ran an ad for a cryptocurrency SME and I needed to have the tech aspects covered. So looks like the majors starting to consider alts to Fed fiat paper or electronic money.
Satoshi · 2016-02-24 13:13:00 · #2552
Wow, look at maidsafe. Wink
JayJuanGee · 2016-02-24 14:35:00 · #2553
(02-24-2016 10:31 AM)Isaac Jordan Wrote:  Princeton has put out a free Bitcoin textbook:

Quote:The first complete draft of the Princeton Bitcoin textbook is now freely available. We’re very happy with how the book turned out: it’s comprehensive, at over 300 pages, but has a conversational style that keeps it readable.

If you’re looking to truly understand how Bitcoin works at a technical level and have a basic familiarity with computer science and programming, this book is for you. Researchers and advanced students will find the book useful as well — starting around Chapter 5, most chapters have novel intellectual contributions.

I haven't read it yet, but it's hard to beat free. If anyone else ends up reading, please share your thoughts with us here.



Thanks a lot Isaac...

I downloaded it also, and I will look it over and discuss various parts too... from an overview point of view, it does seems to be quite comprehensive with a lot of good discussion...

Maybe future versions will have a table of contents and an index?
JayJuanGee · 2016-02-24 14:38:00 · #2554
(02-24-2016 01:13 PM)Satoshi Wrote:  Wow, look at maidsafe. Wink


I though that you would chime in at some point about some alt in a post that is not really directly related to bitcoin and maybe even suggesting that you are doing better than bitcoin, blah blah blah... EatpussEatpuss

However, I was anticipating that your post was going to be be some kind of ethereum pump. Laugh


You still completely out of bitcoin? DodgyConfused
JayJuanGee · 2016-02-25 04:35:00 · #2555
Personally, I remain somewhat befuddled by bitcoin's ongoing short-term price actions with the various ongoing price manipulations that seem to be occurring and even the seemingly relatively speaking low trade volume.

It would be nice to get some high volume upward price action to bring us past $467, but I am having my doubts about how long it is going to take for such an event to occur because when we have fairly low trade volume with upward and downward girations, we have the sense that there is not a whole hell-a-va lot of passion out there regarding bitcoin pumping (to get the price to move upwards), and when low trade volume is sustained, then the price is being controlled by a fairly small amount of capital, which means that BTC prices can be driven down with a few thousand coins dumped over a few hours.

Surely, the whales need more than a few thousand coins and capital to control bitcoin prices overall, but relatively speaking, it is not a lot of capital with such a small market cap and when the trade volume remains so low on an ongoing basis (especially in recent weeks).

Accordingly, if there is high trade volume with upward price movement (for example, averaging more than 15k coins per day on Bitstamp for more than a week), then that level of trade volume can be a pretty decent sign that we have a pretty decent BTC price battle going on (and some passion in the fight between the bears and the bulls)... otherwise if there is not a passionate battle, then little by little bears can kind of regain control and manipulate and surprise with dumps...

To me, I kind of assess that we have not experienced such a sustained BTC price battle for more than 8 weeks... so this kind of a situation can become a bit nerve racking.. to witness the bears kind of controlling and the FUD receiving too much attention... and the passion for upward movement is not quite high enough to cause upward price movement.

Prior to 8 weeks ago, we had about 20 weeks of a decent and sustained BTC trade volume which really was a price battle that brought us to our current approximate floating BTC price range (Currently, largely floating between the upper $360s and the lower $460s during this kind of waiting and see period).. We could even be within a a kind of consolidation price range.. at least for the moment, until passion increases... which will come, sooner or later.. hopefully sooner...).
Satoshi · 2016-02-28 02:09:00 · #2556
I'm not at all invested in bitcoin this days. I thought I explained that already, in this thread, a few pages back.

I'm all in maidsafe, which I also explained earlier in this thread and right now it seems like I've made quite a good decision.
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