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Bitcoin technical analysis

  • #1,781
  • Jan 21, 2014 7:26am Jan 21, 2014 7:26am
Quoting lady_luck
Yes, I know what you mean, I have a bit of problem about this 980.59 on gox, I was looking at 978 and then down, but the way it's ranging in the 960 could be like consolidation before an other wave up to the 1000+. Last time I was suspecting 864 (btc-e/stamp) to be a strong resistance and it wasn't, and I'm tempted to say the say the same, again, but... PS: yes, little bead of a reference to your article Nice pics you posted earlier, funny thing I've heard is that apparently those beads had value because tribes gave a great importance to esthetics,...

Yes, PA seems to be making a triangle upwards to 850 (BTC-e) and this is usually the method that BTC escapes correction and starts a run. I'm not sure but the same thought has been in my mind the whole day...
cryptocurrency everytime
  • #1,782
  • Jan 21, 2014 7:28am Jan 21, 2014 7:28am
GOLD is falling.. I wonder if the cryptocurrencies will follow.??
Attached Image
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  • #1,783
  • Jan 21, 2014 7:33am Jan 21, 2014 7:33am
Quoting KiwiOz
GOLD is falling.. I wonder if the cryptocurrencies will follow.?? {image}
Their was an adage on bitcointalk before it turned into a trollbox replica : "gold collapsing, bitcoin up !", and Venzen also noticed the opposite motion against Gold and XAU.
So will see
  • #1,784
  • Jan 21, 2014 7:34am Jan 21, 2014 7:34am
Quoting thexit
{quote} I agree with you on what you are saying about the oranges and stuff but please on earth do not suggest my view on the QE programme. I'm far from thinking everything's good,... But let's not get too pessimistic Good trading to you all.

thanks thexit for stating your opinion about this emotive topic in a calm manner and also adding facts and rhetoric to the discussion.

That the banking cartel can turn "Vulture Fund" and eat it's own is a clear sign that they are digging a grave for themselves!

We have to trade through all of this and use the insights we gain from traiding to protect ourselves.

Good Luck to you too and feel free to visit anytime
cryptocurrency everytime
  • #1,785
  • Jan 21, 2014 7:35am Jan 21, 2014 7:35am
Quoting venzen
{quote} Hiya XT! Welcome, welcome... yes, Finland do not recognize BTC as a currency. So calling it a commodity is somewhat following the lead of HMRC (UK tax) who want to make money by charging VAT on each BTC exchange! But a public outcry is forcing them to possibly reverse position (not a trade position ) on that. I believe Finland's decision is influenced by the fact that they have a few high powered mining compounds in the country already (low temperatures reduce cooling expenses) and they also have quite a few software companies who (about...
I'm impressed with your knowledge, and happy about getting to know such things. I still prefer the majors, but it is so refreshing to watch a development of a new currency, and can be pretty informative too, I guess.

Please tell me guys, such instances as mentioned by Venzen should push the BTC value higher, what do you recon?
  • #1,786
  • Jan 21, 2014 7:39am Jan 21, 2014 7:39am
Quoting KiwiOz
GOLD is falling.. I wonder if the cryptocurrencies will follow.?? {image}

I've seen a pattern that when Gold really takes a dive then Bitcoin tends to rally:

Attached Image (click to enlarge)
Click to Enlarge Name: Gold_Selection_15Jan14_12:07.png Size: 89 KB
cryptocurrency everytime
  • #1,787
  • Jan 21, 2014 7:45am Jan 21, 2014 7:45am
Quoting thexit
{quote} I'm impressed with your knowledge, and happy about getting to know such things. I still prefer the majors, but it is so refreshing to watch a development of a new currency, and can be pretty informative too, I guess. Please tell me guys, such instances as mentioned by Venzen should push the BTC value higher, what do you recon?

well thanks for saying, but i only know a lot about very few things and have chonchy to thank for my better understanding of the central banking mechanism via that video he posted earlier (and others elsewhere in the thread)

These good news stories for Bitcoin have been piling up for weeks now and we are surprised at the lack of sympathetic advance. Anyhow, if you care to look at any BTC chart your analysis or comments will be welcome.
cryptocurrency everytime
  • #1,788
  • Edited 8:19am Jan 21, 2014 7:57am | Edited 8:19am
Not sure what's happening here... looks like a clear 5 waves up but if this were advance, where is that characteristic three subwave A wave?

In case of the yellow alt count of A and B then waves 1 and 2 would be waves "a" and "b"

MtGox H1

Attached Image (click to enlarge)
Click to Enlarge Name: Gold_Selection_21Jan14_20:54.png Size: 69 KB
cryptocurrency everytime
  • #1,789
  • Jan 21, 2014 8:38am Jan 21, 2014 8:38am
2 days ago on 19 Jan I opened a support ticket at BTC-e because MT4 would not connect. Just now I got this response:

Quoting BTC-e Support
There was a technical issue with our live server between 3 and 5 am BTC-e server time on January 19th, 2014.

We do apologize for the inconveniences, It has been fixed by now and you should be able to use your live account for trading again.

If any of your orders suffered loss due to this temporary server unavailability, please, send us order number (ticket), MT4 account number and description of your claim. Any MT4 printscreens, log files etc to back up your claim will be helpful. We will look into your claim and do our best to settle it in a fair manner.

Best Regards,
BTC-e Support
Good that they offer to look into issues of loss due to the error on their part. Luckily I was unaffected. Have to remember to take screenshots and save logfiles should this happen again...
cryptocurrency everytime
  • #1,790
  • Jan 21, 2014 8:52am Jan 21, 2014 8:52am
Quoting venzen
2 days ago on 19 Jan I opened a support ticket at BTC-e because MT4 would not connect. Just now I got this response: {quote} Good that they offer to look into issues of loss due to the error on their part. Luckily I was unaffected. Have to remember to take screenshots and save logfiles should this happen again...
I'm glad they have finally started a closer international customer service, I used to get answers in russian or none at all/
  • #1,791
  • Jan 21, 2014 9:04am Jan 21, 2014 9:04am
Quoting venzen
{quote} well thanks for saying, but i only know a lot about very few things and have chonchy to thank for my better understanding of the central banking mechanism via that video he posted earlier (and others elsewhere in the thread) These good news stories for Bitcoin have been piling up for weeks now and we are surprised at the lack of sympathetic advance. Anyhow, if you care to look at any BTC chart your analysis or comments will be welcome.
If anyone gets a better understanding of anything as a result of any conversation, then it was well worth to converse

I am surprised that such "good" news had no result on Bitcoin. From my (limited) perspective, it may mean that the currency is not that easy to manipulate/speculate, but I will postpone any judgement until I do some reading into the details of Bitcoin. As I said, my perspective and knowledge of BTC are limited, just grabbed a few bits here and there. You got me interested though.
  • #1,792
  • Jan 21, 2014 9:29am Jan 21, 2014 9:29am
Hey Mate!

Interesting - Denmark has a huge red light district! They'll probably accept it!

How much does a computer setup run someone that want's to "mine" their own BTC? With necessary software and all?

Sorry for the newbie questions but I still don't know if I am 100 % on how the bitcoin is actually "mined" You explained it once and I am past the term mining / or "mining" LOL

Thanks,
XT-

Quoting venzen
{quote} Hiya XT! Welcome, welcome... yes, Finland do not recognize BTC as a currency. So calling it a commodity is somewhat following the lead of HMRC (UK tax) who want to make money by charging VAT on each BTC exchange! But a public outcry is forcing them to possibly reverse position (not a trade position ) on that. I believe Finland's decision is influenced by the fact that they have a few high powered mining compounds in the country already (low temperatures reduce cooling expenses) and they also have quite a few software companies who (about...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,793
  • Edited 10:28am Jan 21, 2014 10:14am | Edited 10:28am
Quoting XTrade
Hey Mate! Interesting - Denmark has a huge red light district! They'll probably accept it! How much does a computer setup run someone that want's to "mine" their own BTC? With necessary software and all? Sorry for the newbie questions but I still don't know if I am 100 % on how the bitcoin is actually "mined" You explained it once and I am past the term mining / or "mining" LOL Thanks, XT- {quote}
Hey,

If I can be honest, mining with your casual hardware is pointless nowadays. A gaming computer set-up would give -at best- 800mh/s, and most miner own an dedicated mining rig, called asic or fgpa, the coming generation will cost about $10.000 and mine at around 10th/s. That gives an order of the variances in amplitude.
Then people gather their mining power in pool and share the benefit.
Being a lonesome miner isn't rewarding anymore. Even pools faces difficulty competing against larger company.
Starting to mine now would basically required an investment that would have better ROI by simply trading it. You can use some online calculator to evaluate your potential profits compare to hardware cost and electric bills.


I'm not sure but I hope that somewhat answer the question
  • #1,794
  • Jan 21, 2014 11:03am Jan 21, 2014 11:03am
Quoting XTrade
Hey Mate! Interesting - Denmark has a huge red light district! They'll probably accept it! How much does a computer setup run someone that want's to "mine" their own BTC? With necessary software and all? Sorry for the newbie questions but I still don't know if I am 100 % on how the bitcoin is actually "mined" You explained it once and I am past the term mining / or "mining" LOL Thanks, XT- {quote}

XTrade, it is as lady_luck explained it: Bitcoin mining is basically now only for purpose built rigs consisting of either 5-6 high-end AMD Radeon graphics cards with masses of cooling or banks of ASIC FGPU chips. If you're really into it you can spend $10k and join a mining pool but the difficulty of mining doubles about every month by now and within a few years it will be solely in the domain of supercomputing clusters. This ramp-up in difficulty is hardcoded in the Bitcoin DNA to ensure "slow-release" of the final 2million or so coins over the next century.

However:

If you're like me and like technical gadgetry and want to experience the thrill of mining at least "something", you can install CPU mining software and join a Litecoin pool and earn yourself 0.000004 Litecoin after a week! Problem is the minimum transfer out of the miningpool is 0.01, so you'll be mining for 9 months or so before you can even withdraw anything and your PC will be pretty much useless all that time as mining uses 100% CPU. Litecoin requires less hardware power to mine but it is still outside of the average punter's hardware specs. If you absolutely want to mine and want to start a mining project then I suggest you have a look at this link http://www.cryptobadger.com/build-yo...in-mining-rig/

Sorry to pour cold water on it, man, I was disappointed myself when I weighed it up, did the math and realized that for my available resources and means, it is more lucrative to just trade the BTC chart.

BTW, what operating system do you run? I may have an alternative coin mining solution for you yet!
cryptocurrency everytime
  • #1,795
  • Jan 21, 2014 11:58am Jan 21, 2014 11:58am
Hi Bitcoinians


just found that: http://www.zerohedge.com/news/2014-0...s-and-internet
  • #1,796
  • Jan 21, 2014 1:39pm Jan 21, 2014 1:39pm
Quoting infinitus
Hi Bitcoinians just found that: http://www.zerohedge.com/news/2014-0...s-and-internet

hi infinitus,

super confidence pump for us nerds over here

(and the comments section on ZH always cracks me up! LOL!)
cryptocurrency everytime
  • #1,797
  • Jan 21, 2014 4:16pm Jan 21, 2014 4:16pm
Quoting venzen
{quote} hi infinitus, super confidence pump for us nerds over here (and the comments section on ZH always cracks me up! LOL!)



oh oh, where is the cool aid?????

Here it is (although a lame one LOL)

http://www.businessinsider.com/bitcoin-limits-2014-1
  • #1,798
  • Jan 21, 2014 6:11pm Jan 21, 2014 6:11pm
Quoting venzen
These good news stories for Bitcoin have been piling up for weeks now and we are surprised at the lack of sympathetic advance.
That ain't no joke, I can't believe the markets aren't moving up by now with all the good news out!!
  • #1,799
  • Jan 21, 2014 6:16pm Jan 21, 2014 6:16pm
Quoting dcramer16
{quote} That ain't no joke, I can't believe the markets aren't moving up by now with all the good news out!!

It used to be we'd get 1 or 2 positive news stories every couple days and the price would go through the roof, then a negative story would come out and the price would drop again. Lately we've been getting like 10-20 positive news stories a day and still nothing!! I think when it makes a break for it, it's really going to go. But that's just guessing.
  • #1,800
  • Jan 21, 2014 7:15pm Jan 21, 2014 7:15pm
Quoting venzen
{quote} hi infinitus, super confidence pump for us nerds over here (and the comments section on ZH always cracks me up! LOL!)
Yse venzen. I do think Andreessen Horowitz called you a Nerd...
Money Makes Money
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