Bitcoin at $330 ?

[btstip]

Hey Vizzini, here are the results of your tips...

• gamey: has been credited 2000 SPERM
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• CRAPCOIN: has been credited 2000 SPERM
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Source: https://bitsharestalk.org/index.php/topic,9685.msg265538/topicseen.html#msg265538

Created by hybridd

[jsidhu]

its bottoming out soon dont worry 

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.

Told you

[btstip]

Hey CRAPCOIN, here are the results of your tips...

• gamey: has been credited 100 CRAPCOIN

Curious about ShareBits? Visit us at http://sharebits.io and start tipping BTS on https://bitsharestalk.org/ today!

Source: https://bitsharestalk.org/index.php/topic,9685.msg265219/topicseen.html#msg265219

Created by hybridd

[CRAPCOIN]

Maybe a great thinning of the herd is what is required and this will help just clean up the crapcoins.  That would be positive.

#sharebits "gamey" 100 CRAPCOIN

Welcome to the CRAPCOIN hodlers club!

[mf-tzo]

ahahahahaha...lol...

[tonyk]

I did manage to buy some fractional BTC on Coinbase (bought only 1/3 BTC) when the price was at $290.00. I will buy more if it falls below $250.

Including the 1/3 BTC that I bought when the $ price was $290, I ended up buying a total bitcoin amount of 1 BTC for a total cost of $334.56 during this recent bitcoin $ drop.  I am happy with this BTC purchase. 

Very informative... I am saving this in my 'Best tips of all times' folder!

On the same Note, no pun intended, do you want to hear what I did with my 1/73th of a BTC, buying BTSX?

[TurkeyLeg]

+5

[Cryptofreakoutlaw31]

I did manage to buy some fractional BTC on Coinbase (bought only 1/3 BTC) when the price was at $290.00. I will buy more if it falls below $250.

Including the 1/3 BTC that I bought when the $ price was $290, I ended up buying a total bitcoin amount of 1 BTC for a total cost of $334.56 during this recent bitcoin $ drop.  I am happy with this BTC purchase. 

[edilliam]

Its an old World of Warcraft meme.  I was comparing the bitcoin seller (now dubbed 'the bearwhale') with 25k coins on the ask to a boss that everyone needed to attack. 

In World of Warcraft a large team of players (a 'guild') would need to work together to defeat a boss.  Such a group was referred to as a 'raid'. 

There is a famous video from around 2005 or so where a raid group is fighting a dragon, Onyxia, one of the major challenges at the time. 

Several of the phrases that the raid leader says in the video turned into famous memes.

"More DoTs":  A DoT or 'damage over time' spell is something that the players would be able to cast on the boss.  The raid leader is calling for more DoTs to be cast on the boss, providing sustained damage over time.

"50 dkp minus":  When the boss is defeated, the group would have to divvy up its treasure.  However, the treasure would be in the form of maybe 4 or so items, whereas at the time a group of 40 people would need to collaborate to take down the boss. 

The standard system for handling this was for a leader to track the participation of members of their guild over time, giving out "dragon kill points" or dkp to participants.  Thus, a player might participate in ten boss kills over the course of a month, and gain dkp each time, and then once they had enough, they would spend their dkp to win one of the items awarded for killing the boss, usually through an auction system.  (Players would bid dkp on the item they wanted, and the highest bidder would be given the item and dkp would be deducted from their total).

The "50 dkp minus" meme comes from the fact that in the video, the leader was threatening the team members with a 50 dkp penalty if they messed up. 


Hopefully that made some sense.

Have any guilds tried to turn dkp into a ctypto currency? User issued assets could work pretty well for this sort of thing.

[Ander]

Its an old World of Warcraft meme.  I was comparing the bitcoin seller (now dubbed 'the bearwhale') with 25k coins on the ask to a boss that everyone needed to attack. 

In World of Warcraft a large team of players (a 'guild') would need to work together to defeat a boss.  Such a group was referred to as a 'raid'. 

There is a famous video from around 2005 or so where a raid group is fighting a dragon, Onyxia, one of the major challenges at the time. 

Several of the phrases that the raid leader says in the video turned into famous memes.

"More DoTs":  A DoT or 'damage over time' spell is something that the players would be able to cast on the boss.  The raid leader is calling for more DoTs to be cast on the boss, providing sustained damage over time.

"50 dkp minus":  When the boss is defeated, the group would have to divvy up its treasure.  However, the treasure would be in the form of maybe 4 or so items, whereas at the time a group of 40 people would need to collaborate to take down the boss. 

The standard system for handling this was for a leader to track the participation of members of their guild over time, giving out "dragon kill points" or dkp to participants.  Thus, a player might participate in ten boss kills over the course of a month, and gain dkp each time, and then once they had enough, they would spend their dkp to win one of the items awarded for killing the boss, usually through an auction system.  (Players would bid dkp on the item they wanted, and the highest bidder would be given the item and dkp would be deducted from their total).

The "50 dkp minus" meme comes from the fact that in the video, the leader was threatening the team members with a 50 dkp penalty if they messed up. 


Hopefully that made some sense.

[mf-tzo]

Not that I care about bitcoin at all but I am curious to learn what are you talking about:

We need more DoTs!  More DoTs!

Selling your bitcoin is a 50 dkp minus.

 

[fuzzy]

Selling your bitcoin is a 50 dkp minus.

LOL...i wonder how many others in this thread know what you are talking about.

[mimitie]

The btc price is kidding now ~~~ 

[liondani]

our bitBTC shorters are manupulating the price

...just kidding

Sent from my ALCATEL ONE TOUCH 997D

[Cryptofreakoutlaw31]

I did manage to buy some fractional BTC on Coinbase (bought only 1/3 BTC) when the price was at $290.00. I will buy more if it falls below $250. 

[mint chocolate chip]

We need to get back to what was working, now come on ya'll, let's start chanting "To Da Moon!"

[Ander]

Selling your bitcoin is a 50 dkp minus.

[Ander]

We need more DoTs!  More DoTs!

[nomoreheroes7]

Looking at that 21k wall on bitstamp at 3k, and all the tons of small buys into it, I'm like:  "The boss has 21000 hp, go dps!"

  need moar tanks

[Ander]

Looking at that 21k wall on bitstamp at 300, and all the tons of small buys into it, I'm like:  "The boss has 21000 hp, go dps!"

[roadscape]

This article is sensationalized, but at least it reminds us that these centralized and unregulated exchanges can easily trade with coins that they don't actually own.

Fake Chinese Bitcoins Are Commonplace At Chinese Exchanges Evidence Shows

[Riverhead]

What I really want to see is us up by 30% while bitcoin is up 10.

[Ander]

That said we have been maintaining a pretty steady $0.03USD/BTSX during the free fall.

Yeah, we have dropped about 10% while bitcoin has dropped 30. 

What I really want to see is us up by 30% while bitcoin is up 10.

[Riverhead]

once BTSX/bitUSD has a direct route to fiat and BitShares/Assets are marketed to non crypto folks it won't matter wtf Bitcoin does.

Yes.  But for now, it DOES matter what bitcoin does.  BTSX price is still partially linked to btc price.

Sounds like I3 has some pretty specific plans to uncouple them before the year's out. However, yes, I do agree that right now we are tied. That said we have been maintaining a pretty steady $0.03USD/BTSX during the free fall.

[Ander]

once BTSX/bitUSD has a direct route to fiat and BitShares/Assets are marketed to non crypto folks it won't matter wtf Bitcoin does.

Yes.  But for now, it DOES matter what bitcoin does.  BTSX price is still partially linked to btc price. 

[Riverhead]

What's the point of such an ostentatious move. Putting $9 million dollar amount of bitcoin in a single limit sell order, is that normal behavior or is this a case of very open manipulation?

I don't think btsx would be unaffected if someone pulled a move like that.

Push the value down enough and the big miners might stop mining, or the Diff will go down to the point other pools can make money? I have no idea but...

once BTSX/bitUSD has a direct route to fiat and BitShares/Assets are marketed to non crypto folks it won't matter wtf Bitcoin does.

[CLains]

ok if that wasnt bottom then i have learnt nothing in the last 18 months of trading

[JoeyD]

Someone put a 40k sell wall on bitstamp today to get the price below $300. Why I don't know, but someone posted a warning for the exact number of bitcoins an hour or so before it actually appeared. What's the point of such an ostentatious move. Putting $9 million dollar amount of bitcoin in a single limit sell order, is that normal behavior or is this a case of very open manipulation?

I don't think btsx would be unaffected if someone pulled a move like that.

[Ander]

I think we saw the bottom in bitcoin.  (At least for a while).   Hopefully this is the start of a rally in all crypto.

BTSX did well in this decline, it dropped less than BTC.  Now its time for it to go up faster as well.

[kisa]

we had huge daily volume in Bitstamp with BTC falling to 275 today.
reminds much of October 2nd, 2013 when BTC suddenly fell to below 85, this after trading above 100 for months...

my guess (trying to stay unbiased and not mix up intuition with hopes) -> we are seeing short covering / bottom fishing / loading up by whales right now...  quite likely -> this was the big bottom today. the next secular bull could start from now on.

[jckj]

Now below $300 " who have delt my opion about bitocion will $300 ~￥100 。 Now chances coming. Btsxers should do more effect .

[jokb235]

Well, if BTC goes to double digits, LTC will fall below BTSX. If only Ripple wasn't so resilient... 

Why don't you get some Ripple then? I'll give you 31 so you can get started.

[hpenvy]

I don't even know if this is possible, I'd love to see a DAC make it easy for Bitcoin users to extend their life by getting involved in the Bitshares ecosystem.

[donkeypong]

I think it's going to double digits.  The last 2 bubbles were actually 1 bubble, the willy report being true would explain the lack of demand, because a big chuck of it was never real.  You never know though a big announcement could rescue it at any time, but I wouldn't bet on it, so I'm not.  Sold my last coins yesterday after holding for 2 years.  Bitcoin needs a price reset.

You know, I also think a lot of casual holders were waiting for some huge exponential gain as soon as Amazon or Paypal, etc., broke down and started accepting it. Now we've basically seen Paypal do this, though not full scale. And what effect did this have on the price? Those holders realized it isn't going to be that easy to force up the price.

I think this is a great opportunity for BitShares, though not without challenges.

[vlight]

Well, if BTC goes to double digits, LTC will fall below BTSX. If only Ripple wasn't so resilient... 

[hpenvy]

What a great opportunity for our Vegas team over the next 3 days.

[matt608]

I think it's going to double digits.  The last 2 bubbles were actually 1 bubble, the willy report being true would explain the lack of demand, because a big chuck of it was never real.  You never know though a big announcement could rescue it at any time, but I wouldn't bet on it, so I'm not.  Sold my last coins yesterday after holding for 2 years.  Bitcoin needs a price reset. 

[jaran]

my prediction its rebound from 250 to 400 -500 and then in 2015 with collapse of SP500 it crash to 100$
it will be time to buy alot

Looks like we might see $250 here shortly as it just broke below $290

[bluebit]

I read on reddit that all the Chinese exchanges are using bots to lower the price to $0 in order to build up their reserves. We can be glad that BitsharesX is it's own decentralized exchange.

[Method-X]

Sea of red.

[Crossover]

my prediction its rebound from 250 to 400 -500 and then in 2015 with collapse of SP500 it crash to 100$
it will be time to buy alot

[nomoreheroes7]

16 hours later -- BTC is approaching $300. Madness. When will it end?


...I just hope it doesn't take BTSX down with it. BTSX is down, but not nearly as bad as BTC.

[Crossover]

Debt > Goodwill
need several decades to beat Fed owners

[MartinZ]

Hello,
as an active supporter and holder of bitshares, but also an ex-trader of derivatives, it seems to me that it is in the best interest of the whole cryptoworld to quickly adopt access to shorting. That, and only that can stop the chaos and make the prices stabilize. As long as only a handful know how to short bitcoin (possibly the ones with thicker wallets and access to other forms of capital), not to mention shorting other cryptos, things will tend to get out of hand easily.  Now what we're seeing is beaten up high-hopes vs. quick profit and the latter always wins. Just my two cents or satoshis or...

[Ander]

Bitcoin just falling apart, and its taking everything else down with it. 
Crypto land is a massive sea of red right now.

[cube]

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.

[speedy]

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...

[fuzzy]

its bottoming out soon dont worry 

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.

Dadadada! bitUSD to the Rescue!

[xeroc]

its bottoming out soon dont worry 

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.

[Ander]

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.

[clout]

its bottoming out soon dont worry 

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.

[clayop]

what type of analysis he used

He said that he used fractal method.

[Crossover]

what type of analysis he used

[clayop]

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.

[bitmeat]

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?

[clayop]

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.

[bitmeat]

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

[CLains]

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

[gamey]

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.

[Rune]

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.

[gamey]

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 ?

[jsidhu]

its bottoming out soon dont worry 

[tonyk]

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...

[gamey]

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 ?