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Bitcoin Analysis 22 replies

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Bitcoin technical analysis

Quoting venzen
Chonchy, Thanks for the posts. I'm not fully online today due to internet problems in Thailand. I just read the Bitcoin Forum post where the guy says: "I believe Bitcoin can go to $70-$100..." and another guy's saying: "One day when it goes to $1000..." oh to dream, hey? Thing is most people are walking dead. The lights are on but nobody's home. They're batteries for somebody else's dream engine and when they saw The Matrix they thought: "SciFi is so cool, imagine that could really happen...". For such automatons the Bitcoin is hard to place into...
Well spoken. I've stopped to preach about BitCoin. I'll just try to explain if they ask. I've done the same mistake trying to make people use Linux.

-s-
BTC FTW
Quoting smartypants
{quote} Well spoken. I've stopped to preach about BitCoin. I'll just try to explain if they ask. I've done the same mistake trying to make people use Linux. -s-

hi smartypants,

Welcome. Ah yes the Linux paradox: most people don't know enough about OS to use Linux without getting frustrated or aggravated, but without making the change they're going to remain stuck with a non-standards compliant relic of the 80s and grow their expertise of virus and web security best-practice.

I usually stay with the LTS version of Ubuntu but recently changed one of my older laptops to Lubuntu 13.10 (from Ubuntu 12.04) and I'm happy with it. Scaling as many apps as possible to commandline - elinks for web, mutt for mail, file ops and navigation from bash... oldies but goodies!
cryptocurrency everytime
OldSchool, that's nice.

There are 10 kinds of people, of linux adopters. Those who can figure out things them self, and those that need to be told what to do.

The problem is with the latter people. I convice them to use linux, they say like, "that's cool I like the philosophy and no virus", the next day I get support calls with request to make it do windows things.

-s-
BTC FTW
Quoting smartypants
OldSchool, that's nice. There are 10 kinds of people, of linux adopters. Those who can figure out things them self, and those that need to be told what to do. The problem is with the latter people. I convice them to use linux, they say like, "that's cool I like the philosophy and no virus", the next day I get support calls with request to make it do windows things. -s-

hehehe, very good: 10 kinds of people...

My experience also, a buddy might call and say: "so I've installed Linux - so far so good - but i can't see my files from Windows anywhere..."

and: "How do i install MS Office Suite on this? Becaue Open Office sucks!"

i've just stopped recommending it - too much support needed for shifting someone else's paradigm !
cryptocurrency everytime
OOOPS!



Bitcoin worth $9M buried in garbage dump

[font=Lato]
Quoting [/font
LONDON (CNNMoney) ]Hoarders everywhere may be feeling smug after a British man threw a hard drive containing more than $9 million in bitcoin into the trash.

The device is now buried under a mountain of garbage at a landfill site in Wales. It will be almost impossible to find.............

XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
How low can we go?
BTC FTW
Quoting smartypants
How low can we go?
Zero, as that´s the intrinsic value

850 - 800$ is first bigger demand zone
just do it
True :-)
BTC FTW
Quoting XTrade
OOOPS! Bitcoin worth $9M buried in garbage dump {quote}[/highlight][/indent]
talk about regret!
cryptocurrency everytime
Quoting smartypants
How low can we go?
anything below $450-$500 is a buy. Although price going above $1000 may indicate a new wave up is underway.
cryptocurrency everytime
Quoting thodie
{quote} Zero, as that´s the intrinsic value 850 - 800$ is first bigger demand zone
thodie, you joker!
cryptocurrency everytime
Quoting venzen
{quote} thodie, you joker!
1st or 2nd sentence

you´ve opened an interesting topic here! looking forward to see your analyses
just do it
Hello traders, hope you all had a great weekend, nice posts.......

..........677 on BTC-e, was the place to buy me think, if it goes lower than that is because some smart guy is manipulating this market and that I dough it very much......so I lost my bus again......when I'm going to find a good price lord........

I think is going to be ranging here, bet wing the two ema's, maybe I do get another chance on the 600's, we will see how he rolls......

http://bitcoinwisdom.com/markets/btce/btcusd
The Chonchy
Quoting chonchy
Hello traders, hope you all had a great weekend, nice posts....... ..........677 on BTC-e, was the place to buy me think, if it goes lower than that is because some smart guy is manipulating this market and that I dough it very much......so I lost my bus again......when I'm going to find a good price lord........ I think is going to be ranging here, bet wing the two ema's, maybe I do get another chance on the 600's, we will see how he rolls...... http://bitcoinwisdom.com/markets/btce/btcusd

chonchy, patience, patience...

You have to remember that Bitcoin is a commodity and is probably at parity now. It's unlikely to stay below $1000 for long. And people aren't selling it because of fundamentals or threats of regulation. They're selling for the sake of taking profit. So buy a few millicoins on the next dip. Then you're in. But remember that at some point in the future there is likely to be a new round of regulatory noises or a scare about security and when the subsequnet fear-based sell-off happens that's when you can buy in bigger amounts around $500.

The fact that price returns above $1000 without much effort and mostly holds there is the basis for me thinking BTCUSD has found price parity. $2000 is without a doubt the target in the coming months.

What I do now is to hold 25-50% of my bitcoins in my wallet and to trade with the remainder, I don't want to be all-in again like before because it's too risky... there was a period (most of the last 3 months) where my entire account was in USD - no BTC - and i was waiting for the moment to get in. Eventually I realized $1000 was the target and got in (all-in) at $531 - but you don't sleep easy because the BTCUSD is literally open and accessible 24/7. Because it takes a few days to fund Bitcoin exchange accounts with fiat - i decided it's best to leave some fiat always available in there for buying dips - then sell some bitcoins when i've made a profit on the previous buy to free up fiat again.

It's just to fund your account with a $100 and get in with a small purchase of say 0.02BTC. Then you're not waiting for the Big Drop but can actively start trading what your chart analysis shows you.

edit: Oh, and nevermind the zeroes (0.0000) - Bitcoin is divisible up to one Satoshi which is defined as
0.000 000 01 BTC = 1 satoshi
Buying the minimum amount of 0.01BTC from the exchange might seem like a joke - but that's 10 millicoins - which is the most common Bitcoin transaction denomination you'll see at shops and services: millicoins. Hardly anyone buys and sells goods/services for 1 full Bitcoin or more. I'm just saying don't let the fractions get you feeling inferior. Think of the Bitcoin as a 'bar' and the millicoin as an 'ounce'
cryptocurrency everytime
Quoting thodie
{quote} 1st or 2nd sentence you´ve opened an interesting topic here! looking forward to see your analyses

thodie,

glad you like it!

I'm poking fun at your statement that Bitcoin has "no intrinsic value". Partially true, but then again what is intrinsic value? Is it a consensus value that may or may not be reflected the market price? If so, then what is the intrinsic value of any fiat currency? Another anomaly that got me thinking about value is the recent experience in Cyprus where people could not withdraw their Euro's from the bank or ATM. Similarly, out of country money transfers were suspended, but online transactions were not, so what some people did was to purchase Bitcoins in bulk and their money escaped the ECB deposit confiscation. That's a highly valuable instrument that is beyond the reach of bank and government!

I think applying the measure of "intrinsic value" to Bitcoin is a semantic challenge because when it comes to stores of value we have consider their "perceived" or "consensus" value. There are situations where even Gold with a high intrinsic value will have no value at all, such as bartering for a life-vest on the Titanic!
cryptocurrency everytime
Well, you learn something new everyday...

Today i opened an account with BTC-e and downloaded mt4 for android, hooked it up to a btc-e demo account, and it works! - mt4 i mean - it's not bad on android (from reviews it seems the iphone version is better) but the best thing of all is: with btc-e you can short the Bitcoin price!

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Pity the btc-e exchange rate is much lower: Mt.Gox BTCUSD is at ~$1000 and BTC-e is at ~$870. It isn't possible to transfer USD from one exchange account to another, altho' Bitcoin transfers are trivial, but there is a premium for your initial Bitcoin exchange transaction at BTC-e given their low rate. You can of course deposit USD straight to BTC-e via wire or credit card, but i found some nasty stories about that:

http://www.reddit.com/r/Bitcoin/comm...vely_scamming/

Not sure how that resolved but i'm not willing to test the waters. I'll just stick to BTC transfers for their reliability and speed, in addition to remaining out of sight of the [email protected] and the [email protected]

OK, so shorting the BTC... let's see...
cryptocurrency everytime
Nice Venzen.

Looks like there is big resistance on 1000$ today.

I read that the Norwegain Exchange, justcoin.com that they got a lot of new customers on Mondays. People here about BitCoin during the weekend and setup transferes from their netbanks. On mondays they buy. Maybe it's similar other places in the world, that's why the price went up to around 1150$ on Mt.Gox this morning CET?

-s-
BTC FTW
Quoting smartypants
Nice Venzen. Looks like there is big resistance on 1000$ today. I read that the Norwegain Exchange, justcoin.com that they got a lot of new customers on Mondays. People here about BitCoin during the weekend and setup transferes from their netbanks. On mondays they buy. Maybe it's similar other places in the world, that's why the price went up to around 1150$ on Mt.Gox this morning CET? -s-

interesting factoid, thanks SM!

It's all about $1000 now, you're right. I don't know why i thought PA would avoid this area but i guess it's a logical half-way house... good thing actually because it shows all those early adopters have the patience and hope for much higher and are not selling off like a bunch of Wall Street hooligans despite holding coins that have appreciated by 1000% !
cryptocurrency everytime
Hi

I'm new to the thread, has anyone traded Litecoin? Ive read a little about it, but seems everyone is talking about Bitcoin these days.

Does anyone have a legitamate source to buy Litecoin?

Cheers
REX
Quoting rexxen
Hi I'm new to the thread, has anyone traded Litecoin? Ive read a little about it, but seems everyone is talking about Bitcoin these days. Does anyone have a legitamate source to buy Litecoin? Cheers REX

hi rexxen and welcome!

I am not sure what the best source to buy Litecoin is - having never dealt with it. I see Coins-E offer it but there is some risk that your fiat deposit to Coins-E may be delayed (or never arrive) as per the reddit post i linked. Maybe some googling can uncover a reliable source.
cryptocurrency everytime
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