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Offline gamey

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Bitcoin at $330 ?
« on: October 04, 2014, 06:16:16 PM »

Geez $330.  This is not good for the crypto world.  Maybe it makes us stand out as we hold value, but the crypto/blockchain scene as a whole is going to take a hit.  Not to mention how much AGS value I3 has lost for development.  Think of Ethereum etc who had a lot in BTC.  It is kinda sad, not as many nerds going to get paid jobs getting to do neat stuff. :(  We might get a short term boost but I have a hard time seeing this being longterm positive.

We're even under 60 million on coinmarketcap. 

When will it stop and we see a legit rebound ? 

I'm going to feel like I'm sticking my tongue out at anyone @ inside bitcoins by wearing Bitshares X related shirt.  Usually people are sad at the end of their Vegas trip, not sad going into it like the people attending Inside Bitcoin.  I guess this will help us sell our product though ?
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Offline tonyk

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Re: Bitcoin at $330 ?
« Reply #1 on: October 04, 2014, 06:27:23 PM »

It could have waited 6-9 more months, to give us a better footing, I guess.

As per the AGS fund - I started advocating for turning at least 50% to fiat, probably 5 months ago...
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline jsidhu

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Re: Bitcoin at $330 ?
« Reply #2 on: October 04, 2014, 06:38:45 PM »
its bottoming out soon dont worry  :P
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Offline gamey

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Re: Bitcoin at $330 ?
« Reply #3 on: October 04, 2014, 06:39:05 PM »

Time to make a post on bitcointalk telling people how they can hedge into dollars in a non centralized trusted manner for the time being ?
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Offline Rune

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Re: Bitcoin at $330 ?
« Reply #4 on: October 04, 2014, 06:39:45 PM »
IMO this fall is fine for blockchain tech. If bitcoin "dies" this fall, regulators will not feel as threatened by it, and we will see less russia style bans until bitshares or another altcoin has attained critical mass to rocket cryptocurrencies back into the spotlight. bitUSD, not bitcoin or some other coin, is what will seriously threaten the monetary sovereignty of countries like Argentina, Russia, China, Vietnam, etc.

Bitcoin has been great for creating a solid cryptocurrency infrastructure. If it continued to be successful for another couple of years, it would still not gain long term success due to PoW mining, but it might give the authorities a test battleground where they can learn how to fight cryptocurrencies. IMO it is better to have the facebook of crypto ready before we begin the global war for monetary sovereignty, rather than sending in myspace first.

Offline gamey

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Re: Bitcoin at $330 ?
« Reply #5 on: October 04, 2014, 06:58:04 PM »
Crypto-exchanges will go out of business or increase transaction fees.  I've always been skeptical of their business to begin with.  Maybe a great thinning of the herd is what is required and this will help just clean up the crapcoins.  That would be positive.

There are some businesses which can stay in businesses.  USD <-> BTC exchanges, and other sites.

I do like the idea of less regulation until we get a foothold.  It also hurts our competitor's funding giving us a distinct advantage, but it is hard for me to be happy about that.
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Offline CLains

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Re: Bitcoin at $330 ?
« Reply #6 on: October 04, 2014, 07:03:21 PM »
I sold BTC way back at 580, but now that people are running around like stick figure caricatures with head on fire, and particularly today with the feels being such feels, I just had to put some fiat back in ... catching the falling knife at 316 btc-e wish me luck

;)

Offline bitmeat

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Re: Bitcoin at $330 ?
« Reply #7 on: October 04, 2014, 07:59:15 PM »
This is a great opportunity to promote hedging in BitUSD! Gotta roll with the punches!

Offline clayop

Re: Bitcoin at $330 ?
« Reply #8 on: October 04, 2014, 08:26:44 PM »
Someone from Korean crytocommunity predicts BTC will go down to $250 at around 2015/3 and will bounce back.
He also expects BTC price will be $1000 at 2016/10 and will increase to $5500 at 2017/4.

Here's the link (Sorry, it's in Korean, but you can figure out what it means)
http://www.ddengle.com/bitcoin/879131#comment_881007

where, yellow line means actual value of BTC.
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Offline bitmeat

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Re: Bitcoin at $330 ?
« Reply #9 on: October 04, 2014, 08:29:43 PM »
Someone from Korean crytocommunity predicts BTC will go down to $250 at around 2015/3 and will bounce back.
He also expects BTC price will be $1000 at 2016/10 and will increase to $5500 at 2017/4.

Here's the link (Sorry, it's in Korean, but you can figure out what it means)
http://www.ddengle.com/bitcoin/879131#comment_881007

where, yellow line means actual value of BTC.

My technical analysis agrees with this the likelihood of this prediction. What is the overlapped chart of? Is it Bitcoin itself but blown to a larger/longer scale?

Offline clayop

Re: Bitcoin at $330 ?
« Reply #10 on: October 04, 2014, 08:32:51 PM »
Someone from Korean crytocommunity predicts BTC will go down to $250 at around 2015/3 and will bounce back.
He also expects BTC price will be $1000 at 2016/10 and will increase to $5500 at 2017/4.

Here's the link (Sorry, it's in Korean, but you can figure out what it means)
http://www.ddengle.com/bitcoin/879131#comment_881007

where, yellow line means actual value of BTC.

My technical analysis agrees with this the likelihood of this prediction. What is the overlapped chart of? Is it Bitcoin itself but blown to a larger/longer scale?

In my understanding, yes.
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Offline Crossover

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Re: Bitcoin at $330 ?
« Reply #11 on: October 04, 2014, 08:47:39 PM »
what type of analysis he used

Offline clayop

Re: Bitcoin at $330 ?
« Reply #12 on: October 04, 2014, 08:49:52 PM »
what type of analysis he used

He said that he used fractal method.
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Re: Bitcoin at $330 ?
« Reply #13 on: October 04, 2014, 08:51:05 PM »
its bottoming out soon dont worry  :P

No its not. Bitcoin is designed to be unprofitable. It will continue to slide. All the merchant adoption only adds to the selling pressure. Bitcoin is a victim of its own success. Its time for people to understand what you can actually do with a blockchain.

Offline Ander

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Re: Bitcoin at $330 ?
« Reply #14 on: October 04, 2014, 10:41:40 PM »
Bitcoin is absolutely brutal today.  I'm so glad I went to 50% btc, 50% btsx before this tanking.  Now its like 60/40 in favor of btsx, purely based on btc tanking so hard.
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