Big Bitcoin price-breakout again! Wall-street and venture capitalists are moving in with big money, leading to a very strong Bitcoin rally.
http://www.investing.com/news/forex-new ... may-287247
BITCOIN as an alternative to regular currency
Cool. Time for another big short.Zenyatta wrote:Big Bitcoin price-breakout again! Wall-street and venture capitalists are moving in with big money, leading to a very strong Bitcoin rally.
http://www.investing.com/news/forex-new ... may-287247
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
It would be fascinating to see a chart of the daily price with overlaid on top the number of daily news articles and/or twitter mentions.
Did you see the Russian program on BBC 2 last week? Quite an interesting insight in to the Russians in London.
Did you see the Russian program on BBC 2 last week? Quite an interesting insight in to the Russians in London.
An ex Bet Angel customer and good friend of mine started a concierge service in that arena. He has done incredibly well since starting the business.andyfuller wrote:Did you see the Russian program on BBC 2 last week? Quite an interesting insight in to the Russians in London.
Basically those charts show that whenever Bitcoin is heavily in the news, that's when the price direction is about to change....generally heavy trading volume and/or many media mentions is associated with a reversal in price direction.andyfuller wrote:It would be fascinating to see a chart of the daily price with overlaid on top the number of daily news articles and/or twitter mentions.
But the long-term trend all looks like one-way traffic...downwards. So many alt.coins now, so why would Bitcoin demand ever rise again? I can't think of anything that can halt the one-way slide to oblivion. It's taken a long time though for Bitcoin to crash...a long slow death.
So many suckers have been taken to the cleaners...
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
I blame you Zen, bigging them up! Get buying oil and silver. Its the future 
No way, I think oil, silver etc. are only going the same way as Bitcoin as well... downsteven1976 wrote:I blame you Zen, bigging them up! Get buying oil and silver. Its the future
As technology advances, fewer and fewer physical resources are needed to do the same job...for instance advances in both obtaining oil in the first place (e.g. fracking) and then ever more efficient use of it and the rise of alternatives (e.g., renewables) means ever decreasing demand.Commodities in general are only ever going down....
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
I'd love to see a chart for the demand for paper since the computer went mainstream. Remember how that was going to replace paper....
My point being that as new technology comes in, it can often lead to more need for older technology and open up the opportunity to do more and thus as things become more efficient the demand for it increases.
I don't see demand for commodities falling in a general long term sense any time soon, also the world is still very undeveloped in many of the most populated parts.
My point being that as new technology comes in, it can often lead to more need for older technology and open up the opportunity to do more and thus as things become more efficient the demand for it increases.
I don't see demand for commodities falling in a general long term sense any time soon, also the world is still very undeveloped in many of the most populated parts.
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marksmeets302
- Posts: 527
- Joined: Thu Dec 10, 2009 4:37 pm
Moreover, owning gold is great to protect against inflation, which the central banks seem hell-bound on achieving (hey, otherwise most countries debts will be unsustainable).
I've traded bitcoins on three exchanges. First there was bitcoin-central. Bought the bulk for less than 10 euros, added at 20 and some at 70. Bitcoin-central was hacked, but I didn't care because I kept all bitcoins in my own wallet. Moved to mtgox, and because of bitcoins volatility it made sense to deploy a rebalancer. Basically you divide your portfolio into two chunks: half cash, half bitcoins. You rebalance again whenever the value of the bitcoins is x% off the value of your cash. It ensures you buy low, sell high. With btc sometimes moving up or down 25% multiple times per day, I was raking in profits. There were days when I traded 70, 80 times!
I still remember I was thinking that the mania had gone too far and entered an order to sell half of my bitcoins. Being greedy, I demanded $2 more than what later turned out to be the ultimate high. Liquidated them some $200 per btc lower and kept playing on with the rest. Every now and then I took some money off the tables. I noticed it took quite a while before the money was transferred to my bank account. In the beginning of 2014 the delay became ridiculous, and it became clear there were some serious problems at mtgox. There was a huge arbitrage opportunity between mtgox btc and "regular" bitcoins. I couldn't resist and bought a fair amount of btc at bargain prices. All in the hope the exchange would open up again. Of course it didn't, and I'll only get a portion of my money back.
At bitstamp I continued the game, but it was a lot less fun. The rebalancer did his job, but because of lower volatility it sometimes only traded once every week. And since the price of bitcoin mostly went down, the rebalancer couldn't make up for the losses. When I received an email that bitstamp got hacked as well I sold everything and made a final withdrawal. Actually quite surprised that went fairly smooth.
My administration around the bitcoin adventure has been terrible. I can't really say for sure how much I've gained and lost, but all in all I'm sure I still made a handsome profit. Especially if I still get some money back from mtgox, but the ride was... well... priceless!!
I've traded bitcoins on three exchanges. First there was bitcoin-central. Bought the bulk for less than 10 euros, added at 20 and some at 70. Bitcoin-central was hacked, but I didn't care because I kept all bitcoins in my own wallet. Moved to mtgox, and because of bitcoins volatility it made sense to deploy a rebalancer. Basically you divide your portfolio into two chunks: half cash, half bitcoins. You rebalance again whenever the value of the bitcoins is x% off the value of your cash. It ensures you buy low, sell high. With btc sometimes moving up or down 25% multiple times per day, I was raking in profits. There were days when I traded 70, 80 times!
I still remember I was thinking that the mania had gone too far and entered an order to sell half of my bitcoins. Being greedy, I demanded $2 more than what later turned out to be the ultimate high. Liquidated them some $200 per btc lower and kept playing on with the rest. Every now and then I took some money off the tables. I noticed it took quite a while before the money was transferred to my bank account. In the beginning of 2014 the delay became ridiculous, and it became clear there were some serious problems at mtgox. There was a huge arbitrage opportunity between mtgox btc and "regular" bitcoins. I couldn't resist and bought a fair amount of btc at bargain prices. All in the hope the exchange would open up again. Of course it didn't, and I'll only get a portion of my money back.
At bitstamp I continued the game, but it was a lot less fun. The rebalancer did his job, but because of lower volatility it sometimes only traded once every week. And since the price of bitcoin mostly went down, the rebalancer couldn't make up for the losses. When I received an email that bitstamp got hacked as well I sold everything and made a final withdrawal. Actually quite surprised that went fairly smooth.
My administration around the bitcoin adventure has been terrible. I can't really say for sure how much I've gained and lost, but all in all I'm sure I still made a handsome profit. Especially if I still get some money back from mtgox, but the ride was... well... priceless!!
Huge Bitcoin price plunge now, down to $US 184. Must hit the bottom sometime. Unless of course the bottom is $US 0
Good charts here, price versus volume over various timeframes. This chart shows price versus volume over the last year:
https://winkdex.com/graph#?exchanges=winkdex&range=1Y
You can see the price spikes and reversals are associated with spikes in trading volume.
Good charts here, price versus volume over various timeframes. This chart shows price versus volume over the last year:
https://winkdex.com/graph#?exchanges=winkdex&range=1Y
You can see the price spikes and reversals are associated with spikes in trading volume.
The idea that inflation is a threat in the modern environment is a crank theory pushed by extreme right-wing schools of economics. They've been wrong about all their predictions since the start of the financial crises back in '08-'09. Despite the Fed printing stupendous amounts of money since then, there's been no inflation. On the contrary, the current environment is deflationary.marksmeets302 wrote:Moreover, owning gold is great to protect against inflation, which the central banks seem hell-bound on achieving (hey, otherwise most countries debts will be unsustainable).
The long-term charts for gold look just like the charts for Bitcoin and other bubbles in slow-motion. In other words, the price for gold is going to crash, just as Bitcoin and all the other bubbles did.
As for oil, there's a glut of it. New technologies are expanding supply faster than demand is rising, and even the oil producers can't hold the prices up, despite their best efforts. The price of oil will continue to plummet.
Falling commodity prices are usually the pre-cursor to a recession. But of course nothing has really made any sense since 2008. Ideally we don't want a deflation led recession at this moment in time. Deflation isn't a good place.
Did you see the plunge on Copper yesterday?
Did you see the plunge on Copper yesterday?