Quote from: trader on October 05, 2014, 07:50:24 AM
Even though mining is unprofitable, at some point there must be a level where people just refuse to sell anymore.
..

Unprofitable for some but not all.  There will also be people who can gain from mining and dump their mined coins. ASICs will get more efficient ($ per hash wise) and there are places with cheap or zero electricity cost.

Even though mining is unprofitable, at some point there must be a level where people just refuse to sell anymore.

Someone posted that after a bubble, Bitcoin has in the past never gone back down to the previous bubble. So that might put a psychological support at $260.

Or perhaps not...

Quote from: xeroc on October 05, 2014, 07:19:40 AM

Quote from: clout on October 04, 2014, 08:51:05 PM

Quote from: jsidhu on October 04, 2014, 06:38:45 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.

+5%

Dadadada! bitUSD to the Rescue! :)

Quote from: clout on October 04, 2014, 08:51:05 PM

Quote from: jsidhu on October 04, 2014, 06:38:45 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.

+5%

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.

Quote from: jsidhu on October 04, 2014, 06:38:45 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.

Quote from: Crossover on October 04, 2014, 08:47:39 PM
what type of analysis he used

He said that he used fractal method.

what type of analysis he used

Quote from: bitmeat on October 04, 2014, 08:29:43 PM

Quote from: clayop 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.

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.

Quote from: clayop 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.

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?

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.

This is a great opportunity to promote hedging in BitUSD! Gotta roll with the punches!

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

;)

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.

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.