(12-06-2013 04:41 PM)LÉtranger Wrote:  wtf is this



source: http://techcrunch.com/2013/12/06/bitcoin...-exchange/

Mt. Gox is stuck in a trading loop. Their software is fucked up.

If you want to see the market for bitcoin, look at Bitstamp since it is the best exchange for BTC.

I sold my coins today. Waiting to see what China does but they're not buying so they may wake up and sell?? Anyway, I'll buy back in late tonight maybe

Oh yeah I'm not telling you guys to sell though I really have no clue what I'm doing.

(12-06-2013 04:41 PM)LÉtranger Wrote:  wtf is this

I won't touch bitcoin as I think in essence it's an elaborate ponzi with no determinable fair value. But watching the chart now and then is fascinating. It's exactly like a stock chart with typical patterns and formations, and supply/demand or support/resistance lines. People are probably trading in on this with algo programs. The late night of the China announcement bitcoin was already forming a bearish pattern for the hour or couple hours prior which was a funny coincidence.

Fun day in the trollbox. Baidu is no longer accepting BTC as a payment option, which is consistent with the China statement yesterday. This shouldn't much affect BTC's status in China, as they're buying it as a store of wealth, not as a currency, since their investment options are so limited.

(12-06-2013 06:13 PM)portofmanteau Wrote:  Fun day in the trollbox. Baidu is no longer accepting BTC as a payment option, which is consistent with the China statement yesterday. This shouldn't much affect BTC's status in China, as they're buying it as a store of wealth, not as a currency, since their investment options are so limited.

I don't understand how the Chinese think I'm using Greek village logic right now to understand how the Chinese think

China is buying/converting fast now.

(12-06-2013 06:35 PM)el mechanico Wrote:  China is buying/converting fast now.

how can you tell

(12-06-2013 06:37 PM)Pyre Wrote:  

(12-06-2013 06:35 PM)el mechanico Wrote:  China is buying/converting fast now.

how can you tell

Fiatleak.com

lol

will someone plz explain the chinese too me?

their govt bans bitcoin, says its speculative and essentially worthleses. Baidu bans it, and then they all start fucking buying them like lemmings.

who said people were rational economic entities?

is there an order book for bitcoin that you can use to read the tape?

(12-06-2013 06:41 PM)el mechanico Wrote:  

(12-06-2013 06:37 PM)Pyre Wrote:  

(12-06-2013 06:35 PM)el mechanico Wrote:  China is buying/converting fast now.

how can you tell

Fiatleak.com

this only represents half the equation - anyway to see who's selling?

(12-06-2013 06:45 PM)Pyre Wrote:  is there an order book for bitcoin that you can use to read the tape?

Bots are on I think.

damn coinbase crashed!

(12-06-2013 06:44 PM)Pyre Wrote:  lol

will someone plz explain the chinese too me?

their govt bans bitcoin, says its speculative and essentially worthless. Baidu bans it, and then they all start fucking buying them like lemming.

The ban is only on financial institutions. Private persons and businesses may still use Bitcoin. Some people will go as far as say this ban is a good thing, cause they want nothing to do with the financial institutions in the first place.

But if you view the ban on financial institution as something negative, it only sent the price 20% down. And that is from the largest Bitcoin economy in the world. Surprisingly steady.

Pyre, just forget you own these bitcoin. Worst case scenario you are out 1600USD, not exactly life changing, on the other hand you might have thousands.

(12-06-2013 07:40 PM)pants Wrote:  

(12-06-2013 06:44 PM)Pyre Wrote:  lol

will someone plz explain the chinese too me?

their govt bans bitcoin, says its speculative and essentially worthless. Baidu bans it, and then they all start fucking buying them like lemming.

The ban is only on financial institutions. Private persons and businesses may still use Bitcoin. Some people will go as far as say this ban is a good thing, cause they want nothing to do with the financial institutions in the first place.

But if you view the ban on financial institution as something negative, it only sent the price 20% down. And that is from the largest Bitcoin economy in the world. Surprisingly steady.

Pyre, just forget you own these bitcoin. Worst case scenario you are out 1600USD, not exactly life changing, on the other hand you might have thousands.

no i sold. gotta have a trading system with sell signals and buy signals. can always buy back again.

too much panic going on not to sell: coinbase crashes, China denounces it, etc.

Plus, I always hear you know you're at the top of a bubble when it's on every fucking news channel. case in point: yesterday someone bought a tesla and lambo with btc. and 2 months ago no one even heard of btc.

Today is the day the music died.

Oh, and the trollbox over at BTC-e is hilarious. Panic central.

my biggest disappointment right now is i have 1 btc in a wallet that i cant sell right now cause its stored on a computer away from me

haha shits crashing hard.
http://preev.com/

down to 670

if you are a instant trader right now..you can be making bank.

it hit 650.. withing and hour it went up to 8...then fell back down to 750

(12-06-2013 06:41 PM)el mechanico Wrote:  Fiatleak.com

Wow that is entertaining Pretty cool.

(12-06-2013 08:56 PM)The Texas Prophet Wrote:  Today is the day the music died.

Oh, and the trollbox over at BTC-e is hilarious. Panic central.

Quote:seren1ty: Guys I have been studying trollbox while banned for the last week and i have learned that you should always buy, hold, sell, panic, FTC sucks and is our savior, NMC always going to $10 and moon.

Quote:professo12: U guys can end this fire sale by just stop selling and no one can buy the orders then it will go up
bitcoinbjb: Just stop selling you n00bs
exium: here we goooooo
Dysphorya: oh boy , BTC going down again , buckle up
GustavGans_78: LTC to da mooooooon
gibzeez: it's gonna bleed until Monday
nomuppets: classic case of calm before the storm.

LOL.

The WNBA just announced they are accepting BTC for ticket purchases - that's what is driving the latest crash - look for BTC to be @10 by Monday.

http://www.nytimes.com/wnba-accepts-bitc...ks-omg-wtf

*Yawn*

People selling litecoins (well all cryptocurrencies)on eBay.

http://www.ebay.com/itm/20-Litecoin-/321...4acd1349e8

Current bid is over 700 dollars. But right now the market value is about 500 for 20 litecoins (fluctuating constantly of course).

I wonder what happens at the end of the bid.

"Uhhh, I thought they were gonna be worth more - now I don't wanna honor my bid."

Greed - pure awesomeness.

(12-06-2013 05:27 PM)el mechanico Wrote:  I sold my coins today. Waiting to see what China does but they're not buying so they may wake up and sell?? Anyway, I'll buy back in late tonight maybe

ElMech:
Where are you buying and selling? On BTC - e, no? For example, I would think that you are getting out of BTC by converting to dollars on BTC-e, but you do NOT cash out, then you jump TOTALLY back in by converting your dollars back into BTC.. at some strategic point.
Is that the methodology that you are employing for engaging in these ALL or NOTHING trades? If so, then I can see that there would be fairly low transaction costs on BTC - e for that method, no? Yet, BTC-e does take a small percentage of the trade, no?

NO Hating ... but from what i consider to be a practical perspective, I cannot believe that anyone would TOTALLY liquidate in such waves like you are saying that you are doing. That seems too risky and nerve racking in such a volatile market, even though there is a good opportunity for greater returns, if a guy can time it correctly.

Nonetheless, I tend to believe that a guy's gotta have a more sound investment strategy than the all or nothing approach, no?

(12-06-2013 06:24 PM)el mechanico Wrote:  

(12-06-2013 06:13 PM)portofmanteau Wrote:  Fun day in the trollbox. Baidu is no longer accepting BTC as a payment option, which is consistent with the China statement yesterday. This shouldn't much affect BTC's status in China, as they're buying it as a store of wealth, not as a currency, since their investment options are so limited.

I don't understand how the Chinese think I'm using Greek village logic right now to understand how the Chinese think

I appreciate your having ideas on strategies that may work out... like buying low and selling high based on the news and sources of news.. and attempting your best to accomplish such gains by fortunate and lucky timing.

NONETHELESS, I would have troubles with this all or nothing selling everything or buying everything.. like balls to the wall in or out. I mean, I have heard that some people do invest like that, yet it seems TOO likely to end up badly sooner or later b/c frequently, us “little people” are acting with insufficient information (well maybe I should speak for myself when I say “little people”... he he he).
Anyhow, UNLESS a guy really has good inside information, or something, sooner or later, with that all or nothing strategy, a guy is going to time the “in” or “out” incorrectly, and lose a lot of his investment, no?

(12-06-2013 06:41 PM)el mechanico Wrote:  

(12-06-2013 06:37 PM)Pyre Wrote:  

(12-06-2013 06:35 PM)el mechanico Wrote:  China is buying/converting fast now.

how can you tell

Fiatleak.com

I think that Fiatleak.com website made my computer crash… or that website may have been the straw that broke the camel’s back… because I have more than 50 tabs open in 3 windows. Anyhow, that website really does NOT tell me much about what I should do. It tells me that there is a lot of action in the USA and in China…. But what else can I gather from watching the volume of flow regarding whether I should buy or sell?

(12-06-2013 07:16 PM)Pyre Wrote:  damn coinbase crashed!

Yeah… I had more than 30 minutes that I had been trying to access Coinbase, as well, TO BUY as this BitCoin price had been going down for several hours and the prices were in the lower $800 range during that crash.

I kept trying to get in to buy, and the crash of the website may have saved me a little bit because the price continued to go down, so by the time I was able to send a new purchase, the price was down to $750 per BTC. Then I bought again at $690 before the price went back up. So my next time to buy today is if it goes below $680 and even more if it goes below $650 by the time I catch it…

(12-06-2013 08:52 PM)Pyre Wrote:  no i sold. gotta have a trading system with sell signals and buy signals. can always buy back again.

too much panic going on not to sell: coinbase crashes, China denounces it, etc.

Plus, I always hear you know you're at the top of a bubble when it's on every fucking news channel. case in point: yesterday someone bought a tesla and lambo with btc. and 2 months ago no one even heard of btc.

Hehehehe.... Yeah... a signalling system for buying and selling…, right.....? We could ONLY wish for such.

I've been on a buying spree all day.. but only in fairly small increments. I think a guy is supposed to buy while the price is going down and to sell while the price is going up. That's what I had heard.... and in this scenario that investment strategy assumes long-term bull (and inability to short)…. which I am gambling upon the long term bull….

I still hope it goes down to less than $100... but I will agree that it is a bit scary to be buying while this BTC is plunging so quickly…. And I would rather that the price does NOT plunge so quickly….

(12-06-2013 08:56 PM)The Texas Prophet Wrote:  Today is the day the music died.

Oh, and the trollbox over at BTC-e is hilarious. Panic central.

TP: You make it seem as if the whole game with BTC is OVER…. He he he he he.. eg… the music stopped and a few guys are stuck without chairs…. ? YOU KNOW that it is NOT over… and this is just a blip… right?

(12-06-2013 09:06 PM)Sourcecode Wrote:  haha shits crashing hard.

Sourcecode:

Hehehehe… Your tone or word choice, here, sounds as if you are NOT “in”

Are you “in” BTC or NOT?

(12-06-2013 10:06 PM)portofmanteau Wrote:  The WNBA just announced they are accepting BTC for ticket purchases - that's what is driving the latest crash - look for BTC to be @10 by Monday.

http://www.nytimes.com/wnba-accepts-bitc...ks-omg-wtf

I cannot find the article that was linked above…. YET,…. ARE you for real in your assertion, PortofManteau? DON'T we believe that MORE acceptance of BTC should RAISE price of BTC, rather than cause any crash of the price, no? Can you explain what you meant by this?

(12-06-2013 10:26 PM)samsamsam Wrote:  People selling litecoins (well all cryptocurrencies)on eBay.

http://www.ebay.com/itm/20-Litecoin-/321...4acd1349e8

Current bid is over 700 dollars. But right now the market value is about 500 for 20 litecoins (fluctuating constantly of course).

I wonder what happens at the end of the bid.

"Uhhh, I thought they were gonna be worth more - now I don't wanna honor my bid."

Greed - pure awesomeness.

Sam(cubed): Yeah…. E-bay does NOT seem to be very well set up for crypto currency transactions.

The seller has been an E-bay member since September 2013 with 100% positive feedback - based on selling hard products. He has NO feedback regarding selling crypto-currencies.... GOOD LUCK to him, there just seems to be too many opportunities for BUYER's remorse.....










On another note, I am a little bit frustrated with the learning curve of Coinbase.

Yesterday, my first transaction of .45 BTC went through, which took nearly a week to accomplish (Coinbase called it 5 business days). My subsequent transactions:
1) Then, yesterday once my first transaction DID go through, I immediately bought .1BTC as an experiment to see whether that “BUY” transaction would go through right away, and it did.
2) Yesterday, a couple of hours later (after my second transaction), I attempted to make a third transaction - .1BTC buy, just to see what would happen, and VIOLA - NO DICE. Now, in order to make that additional .1 BTC buy, I Have to wait 4 business days before I receive the .1BTC.
3) Then between late last night and present, I made about 5 more “buy” transactions – each of these transactions lock in the price, but require 4 business days for me to receive the BTC.

So, in essence on Coinbase, I have verified my identification, my bank account and a visa credit card. I have also referred friends through e-mail and Facebook - however, NONE of my friends have registered and purchased with Coinbase, yet (at least that is what is showing up on my "referral" section of my Coinbase account).

This lack of immediate transaction authority is frustrating b/c I wanted to be able to buy and receive immediately. Maybe later i may sell, but currently, I am on a buying streak - as I have already previously disclosed ….

Here's a screenshot of my current Verifications and Limitations page from Coinbase from a few minutes ago: