off topic: I remember seeing a "recommended fees" table somewhere online, does anyone know of this, can anyone send me a link?



on topic: if you zoom in on bitstamp, the bid walls look nice and healthy now.... just don't zoom out far enough to see those patient 130 ask walls...

Volume is tapering off as we have come to expect leading into the weekend. I've drawn support and resistance lines but the volatility today has cleared out the large bid and ask walls that would otherwise channel the price.

Asking one trillions USD is as if you asked one trillion Simbabwe dollars for your Bitcoin. Yeah, sure, we might reach this price and many around here hope rather sooner than later but selling your bitcoins for one trillion $$ then would be much more stupid than to sell them now for $100. Patience you are talking about is laziness, not to anticipate the value in the near and far future. I am too lazy to sell now and know too little to do so, either. I think it would be a good idea to sell now but I am too afraid of missing the train.

gosh... I get ready to sell x% and leave the profit as investment in ASICMINER, then I start reading the relentlessly positive r/Bitcoin....

http://www.thegenesisblock.com/bitcoin-london-draws-attention-of-mainstream-finance

so, I figure now is a good a time as any to take some profit from ASICMINER's recent explosion and wait for brighter days...  now the bids are looking very strong around $105ish on gox, and bitstamp just can't be trusted one way or the other - everytime you think it's going to drop, someone executes a massive buy, plus the bids closest to the price are all looking fairly healthy now as well.

question is, what's a good mid term exit point, something just below $115ish and hope for a bounce? hmm


I wonder what mr manipulator wants to do now...

the same as everyone else, dump and leave the area...

(1) You made a nonsensical, irrelevant statement about a toilet.
(2) You acknowledged that you said something stupid and someone else responded to it.
(3) You made a nonsensical, irrelevant statement about "greed" that cannot be empirically proven
(4) You made a generality regarding the "hopes" of "others on forum," and used that generality to support some sort of statement about your mood. This is called a "non-sequitur."


Ok, so you replied by saying absolutely nothing. Great job. 

Oh, and this:

shits getting deep.

Some are holding coins in order to spend them later when it's easier and safer and they can buy the normal things they would buy in their everyday life without a second thought, and without having to change back to fiat... yes that doesn't account for the transactions now, but as merchants accept more and infrastructure develops, if the speculation does drive the price up, I am assuming people will want to spend their (now more valuable) coins... obviously this comment also doesn't have much to do with the transaction volume affecting the price on the exchanges now, but on that subject I will also put forward the idea that it may not have much impact on the exchanges, as day to day purchases of coins to spend coins would be inefficient, I will assume that many people already have large stashes of coins they might spend.... finally also bear in mind that some of the philosophy of bitcoin (for some people, and anecdotally a majority) is not to spend spend spend to drive a consumerist economy. As mentioned before, just because the economy is not full of high volume transactions, doesn't mean it's not living and breathing.

Stream of consciousness waffle here so take it or leave it

so long term we are looking at what?

double dip recession with a dead cat bounce that falls into a depression  

 

I prefer another of the excellent blockchain.info charts. Excluding distortions such as Satoshi Dice, this one clearly illustrates the long term growth of the underlying bitcoin economy. The drawn support line indicates a growth rate of 10x every 14 months which approximately agrees with the corresponding long term support line for bitcoin prices.

The chart settings are log, smoothed and all data.