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TinyUrl.com/About BITCOINS : DATA, Trading and Price Dynamics

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The MSE crowd strike me as too tight to fall for a ramp such as bitcoin!

However the trouble is we live in a world where making a profit is often equated to being clever and being correct. If you warn against a rising market you are fighting the tide and will therefore have the impression of being wrong. Too many people forget to distinguish between being right (ie sometimes by luck or taking undue risk), being clever and making a profit (which may have been made by luck or taking undue risk).

 

Agreed.

Down to $130 or so, I think few people were hurt.

Here at below $100, I think some people must be feeling "stung".

Maybe even those Winkie Boss guys

 

winkle_1839943c.jpg

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Bouncing Back - Can this rally break resistance at $130-150 ??

 

From the

, I added the comments (in green): ... Bitcoin price update

 

bitcoint2.png

 

Here's a really great session on Resistance levels, and technical trading of BTC:

http://www.youtube.com/watch?v=cFhsNUV-zjU

 

He surmises:

"Many buyers now, are small buyers who just want to get a taste of Bicoins.

They will not be quick to sell. And the overhead resistance will not be very great.

... The number of coins for sale, is really very light."

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Bitcoin Volume has DWINDLED to almost nothing at about $113

 

CALM, before the Storm ?

 

Bitcoin price volatility - has faded, and trading gone very, very quiet. ... update

 

bitcointop.png

 

10-day Chart

 

bitcoint2.png

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Maybe - which could set up a buying opportunity near a retest lows, possibly.

 

But it could go either way from here.

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BTC prices back down to near $100 ... update

 

qre.png

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Still around $100 per BTC

 

owka.png

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Bitcoins - We still may see the price back in the $45-60 range ... update : intraday

 

- Unless that Downtrend is broken

- The intraday chart shows a $10 drop, from $98 to $88 today

 

qu4d.png

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The Rare, Interest Bearing, Bitcoin Alternative - Cryptogenic Bullion
Scottsdale, AZ -- (SBWIRE) -- 09/11/2013 -- In June 2013 Cryptogenic Bullion (CGB) http://cryptogenicbullion.org/ was launched: a decentralized, peer 2 peer, blockchain based currency morphed from the Bitcoin protocol. The number of professional online services incorporating Cryptogenic Bullion is growing at a rapid rate:
and the currency is currently trading for approximately 500 CGB per 1 BTC. A fork of the virtual currency Novacoin, Cryptogenic Bullion is designed to be a rare, interest bearing, peer-to-peer virtual commodity with the same decentralised characteristics of Bitcoin but with some key differences. Cryptogenic Bullion's innovations include an accelerated decrease of the mining subsidy, almost immediate transaction time and 2% annual interest eligible for Bullion that has been stationary in a user's wallet for at least 30 days. Cryptogenic Bullion has been well received in the digital currency ecosystem. The official Facebook page has over 4,500 fans, and the official CGB website (http://cryptogenicbullion.org/)has been translated into Dutch and Chinese.
The team behind Cryptogenic Bullion is comprised of digital currency enthusiasts with many years of experience in the Bitcoin ecosystem and beyond; having spent many years mining, programming and working on Internet technology projects. Unique among alternative cryptocurrency teams, CGB also has many years of experience in business management and marketing, ensuring CGB carves out a significant niche for itself in the digital currency ecosystem. Much like Satoshi Nakamoto of Bitcoin, the lead developer of CGB has remained anonymous – but the anonymous developer tackles problems and maintains the integrity of the CGB protocol. This is extremely important for the longevity of the project. Elambert, the founder of Cryptogenic Bullion, is a married man with an 8-month-old son who both works as a data analyst and is also extensively involved in other online businesses and pursuits.
Managing the marketing and project development aspects of CGB is Mercury Stills, an entrepreneur with a passion for emerging technologies who founded his first successful company in the year 2000. More info on CGB's development can be found on their website:

 

===

/more: http://www.sbwire.com/press-releases/the-rare-interest-bearing-bitcoin-alternative-cryptogenic-bullion-327489.htm

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==


Is digital banking the foundation for scalable ethical banking? I think digital banking is necessary, but not sufficient.


Back to Bitcoins: the technology was initially deployed with no business rules (and pretty much no business model), resulting in sites like Silk Road using Bitcoins for drug sales, before it was shut down by the Federal Government last week. While the Bitcoin Foundation is putting a brave face on this - see the Washington Post article - there are countless Bitcoin "exchanges" being run by entrepreneurs without a clue about money laundering risks.



Digital payment processing is not the exclusive domain of new new things like Bitcoin: in fact all large banks and the dominant payment networks (Visa. MasterCard, American Express, Discover) are pretty much 100% digital, even if their protocols and algorithms are far from being as smart Bitcoin. These incumbent banking services have plenty of rules and regulations to protect consumers (and themselves), with more to come from the Consumer Financial Protection Bureau. This does not make them ethical, by any stretch of the imagination.



In his book "Jimmy Stewart is Dead" Professor Laurence Kotlikoff suggests "Limited Purpose Banking" as a cure to what he calls the ongoing financial plague. While large established players would have a hard time limiting themselves as suggested by Kotlikoff or dividing themselves up into the required independent pieces, new initiatives, or "neobanks" can easily just focus on retail or consumer banking.



===



( 2 )




==

CNET A handful of alleged drug dealers that hawked their goods on the online black market bazaar have been arrested in the US, UK, and Sweden. by (Credit: ) Authorities are not stopping with the takedown of Silk Road's alleged owner; they have also started going after supposed drug dealers who used the online black market Web site. Since alleged owner last week, eight people in...

===


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Bitcoin's teething troubles not unusual

Chaos and wrong turns accompany any pioneering business, but the virtual currency may yet end up confounding its naysayers'

Stephen Vines

 

4pjw.png

 

One Year Chart - prices dropped briefly when Silk Road arrests were announced

 

The development of bitcoin, the global virtual currency, has been a real roller-coaster ride for its owners and a source of fascination for many others, including myself, who tend to think this whole thing is a bit dodgy but nevertheless full of possibilities.

Bitcoin is back in the news following the seizure of the Silk Road website, which employed bitcoin as a payment system for illegal goods. This seemed to vindicate US Senator Charles Schumer's 2011 warning that it could be used as a currency for terrorist and criminal transactions.

Schumer wanted to shut bitcoin down...

. . .

Adam Levine, the editor-in-chief of the Let's Talk Bitcoin blog, was quoted in this newspaper as saying: "It's an inevitable transition phase. If bitcoin is going to turn into a mainstream thing, this has to happen. The legitimate uses cannot be overshadowed by illicit uses."

. . .

In circles where investment-speak prevails, bitcoin is designated as a contrarian investment, as opposed to being described as a bit of a gamble.

. . .

Basically what's happening over at bitcoin is that someone had a clever idea to fuse the power of the internet with a novel way of making transactions, taking the means of payment away from government-issued currencies and into a virtual world where value is essentially determined by the market.

There are many perfectly valid grounds for scepticism of this concept, not to say alarm, but in a world where currency fluctuations are heavily influenced by political considerations it is easy to see the attraction of bitcoin.

Bitcoin's evolution is similar to that of other businesses forging new directions in the face of consensus opinions. Take, for example, the birth of the car industry, which was accompanied by warnings of the dangers of motorised transport to the extent that pioneering vehicles had to be preceded by men with red flags signalling the approach of these perilous contraptions.

The red flags were eventually removed and automotive technology rapidly improved, but before the car market got to where it is today many businesses collapsed, many merged and many people were indeed killed in motor-vehicle accidents.

===

/more: http://www.scmp.com/business/article/1327349/bitcoins-teething-troubles-not-unusual

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World’s First Bitcoin ATM Set to Go Live Tuesday

 

Robocoins-660x453.jpg

Photo: Robocoin

 

Three high school buddies from a tiny Canadian town say that they will flip the switch on the world’s first bitcoin ATM next week. It will operate near the entrance of a downtown Vancouver coffee house.

 

Built by a Nevada company called Robocoin, the machine will trade bitcoins for cash and vice versa. Bitcoin is the world’s most popular digital currency, and it exists only on the internet, but it can be traded for traditional dollars and euros. Though bitcoin began as niche technology embraced mostly by internet geeks, it is gradually spreading not only to everyday people, but into the everyday world.

 

To buy bitcoins with the Robocoin ATM, you need to do a palm scan and then stuff the machine with as much as 3,000 Canadian dollars per day (roughly US$2,900). The machine then makes a trade on Canada’s VirtEx exchange and moves them into your online bitcoin wallet. The palm scan is to prevent people from doing more than $3,000 worth of transactions, as that would run afoul of Canada’s anti-money-laundering laws, says Mitchell Demeter, one of the Robocoin’s new owners.

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A Bitcoin 2013 Conference attendee withdraws about $2,000 from the Robocoin. Photo: Robert McMillan

 

Demeter is co-founder of a Vancouver bitcoin trading company called Bitcoiniacs. He and two high school friends from Sechelt, British Columbia, set up shop in central Vancouver a few months ago, with the idea of building a series of bitcoin exchange shops across Canada

===

> http://www.wired.com/wiredenterprise/2013/10/worlds-first-bitcoin-atm/

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Bit-coins will go two ways.

 

1. Be banned by the old guard.

 

2. Be taken over the old guard which monopolizes the current fiat monetary system (enriching the founders who obtained the first coins immensely)

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* Bitcoins Website Shutdown by FBI (48:15)

From here:

 

I havent listened yet

== ==

 

Keiser Report 10-29-13: “Bitcoin – Resistance Starts Here!” (E516)
Posted on 2013/10/29by kauilapele
keiser_report_e516_snip.jpg?w=150

This gallery contains 1 photo.

After a bit of hesitation, I decided to post this. Why the hesitation, you may (or may not) ask? When Max and Stacy talk about Bitcoin, and how the “value” has gone up dramatically in the past year, I am … Continue reading

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Latest : $213.80

 

Bitcoin Volatility continues ... update : Now $208, A Double Top near $265 is possible

 

10 Days:

3r8q.png

 

1 year

bkow.png

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If Bitcoins can clear 250, a nice round number, and perhaps 260, and make new all time highs, we could see it double to 500 no problem.

 

You may soon be proven right, NANM, about a possible DOUBLE to $500 / Now $367

 

Look at the latest price action in BTC : update

 

ztok.png

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There's a guy in Hong Kong, doing Bitcoin start-ups

 

Hong Kong-based entrepreneur planning Asia's first bitcoin conference

 

us-it-internet-crime-drugs-silkroad-file

Hong Kong-based entrepreneur Eddy Travia will host the first Asian conference on bitcoin next week, in Singapore, with the digital currency hitting a record price of US$315 yesterday.

Much of bitcoin's recent rise has been attributed to interest on the mainland. CCTV broadcast a documentary about bitcoin in May, and Jiasule, the online security arm of internet giant Baidu, started accepting bitcoin for payment last month. Joining them is an array of retailers on the mainland and in Hong Kong.

"We started accepting bitcoin a year ago" said Adam Lee, manager of a health and beauty business in Hong Kong. "With a phone, you can just show them a code and receive the bitcoin."

He is, however, still waiting for his first customer to pay with the digital currency.

Bobby Lee, founder and CEO of BTC China, the largest bitcoin exchange on the mainland, said most mainlanders were not using bitcoins to pay for things but rather buying them as an investment.

> http://www.scmp.com/news/hong-kong/article/1351315/hong-kong-based-entrepreneur-planning-asias-first-bitcoin-conference

 

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Eddy Travia

Chief Startup Officer

co-founder @Seedcoin bitcoin startup incubator. Fund manager, venture partner in China/Hong Kong. Investor in digital startups. Emerging markets.

=== ===

The objective of Seedcoin is to incubate and fund the creators of cryptocurrency products and services and guide them through the first key stages of their development.

Seedcoin aims to incubate 15 bitcoin-centric startups in the next 10 months, including its own business ideas and external seed-stage startups.

We wish to attract those entrepreneurs who have the skills and vision to overcome the specific challenges of creating a digital currency startup, including the ability to navigate in and adapt to highly uncertain and fast changing regulatory, business and technological environments.

Seedcoin mentors and partners provide support and services adapted to fast-growing, bitcoin-centric startups. We are building a global network of talented and passionate entrepreneurs who believe, as we do, that bitcoin is here to stay and will change our personal & professional relationships with money as we knew it. Apply to Seedcoin and join the future leaders of the digital currency economy.

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Bitcoin Architect: Everything You Need To Know About Bitcoin

Money that's resistant to central control
by Adam Taggart
VIDEO :

Much has been written over the past year about the new digital currency Bitcoin especially after its price skyrocketed 15x in just a few months, followed by a blow-off correction of over 50%.

But what exactly is it? How does it work? How secure is it? What are its advantages (and disadvantages) to sovereign fiat currencies? To precious metals?

In this week's podcast, Chris talks with Gavin Andresen, chief scientist of the Bitcoin Foundation and lead developer for its digital currency project.

> http://www.peakprosperity.com/podcast/82569/bitcoin-architect-everything-need-know-about-bitcoin

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Re article about bitcoin by CC on Money week website.

 

http://moneyweek.com/money-morning-bitcoins-spectacular-rise/

 

There is something wrong with your numbers somewhere though Dominic. If Koch bought 5000 bitcoins x 27 = $135,000 to buy, then the $1,950,000 stacks up at 5,000 x $390. But then your £500 would only have bought something like 30 bitcoins (at 1.6£/$) which would be worth 30 x $390 = $11700, not enough to buy lunch in Chelsea.....

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China catches bitcoin buzz, but with familiar doubts

By Wu Hongyuran and Zheng Fei

BEIJING (Caixin Online) — A few blocks west of Zhongguancun, a technology hub in the capital, wannabe entrepreneurs gather in a coffeehouse named Garage to share ideas and meet potential investors.

. . .

Accepting bitcoins is a good investment, said Zhao Dong, the shop’s co-manager. In front of him, a laptop screen shows that the price of bitcoins has surged from below $140 per unit to a high of $230 in the two-week period ending Oct. 24 on Mt. Gox, the world’s largest bitcoin trading platform. The price has come down a bit but was still much higher than at the beginning of the month.

“If this growth rate continues, a bitcoin would be worth $1,000 in less than six months,” Zhao said, pointing at a steep segment of the curve.

That’s debatable, but most investors say bitcoins will quickly rise in value. The single strongest argument for this belief is that, unlike any country’s fiat currency, bitcoins are limited in supply and cannot be depreciated by any monetary authority pumping up the amount in circulation.

The first bitcoin was generated five years ago by a mysterious person (or persons) using the pseudonym Satoshi Nakamoto. The trading and the process by which a new coin is created, called “mining,” is carried out online through complex algorithms performed by private computers linked by a network.

Under this arrangement, mining becomes progressively more difficult and will stop when the existing number of bitcoins reaches 21 million. As of August 2012, some 11.5 million units were reportedly in circulation.

By and large, bitcoins are not tied to any real-world commodities. There have been efforts to form a link, but bitcoins mostly exist only as a string of numbers that cannot be converted into common currencies except when someone offers to buy them.

The Chinese market for bitcoins has become an important driving force behind the currency’s increasingly wide use and may top all others in terms of transaction volume, Genesis Block, a New York-based digital-currency research group, said recently in a report.

At the end of September, the number of bitcoins traded every day in the Chinese market was 17,500, up 24% from three months before, the report said. That accounted for 30% of the world’s total transactions.

MW-BF834_bitcoi_20130724072319_MD.jpg?uu
BloombergEnlarge Image

Vili Lehdonvirta, an Oxford research fellow who has been watching the industry closely, said Chinese speculators were pouring into the bitcoin market just as the frenzy was beginning to ebb in the U.S. and European markets.

He linked Chinese investors’ interest in bitcoins to the fact they cannot trade the yuan USDCNY -0.07% as freely as people in other parts of the world can trade their currencies.

===

>more: http://www.marketwatch.com/story/china-catches-bitcoin-buzz-but-with-familiar-doubts-2013-11-13?siteid=bigcharts&dist=bigcharts

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You may soon be proven right, NANM, about a possible DOUBLE to $500 / Now $367

 

Look at the latest price action in BTC : update

 

ztok.png

 

$447. The buy signal was a new high as I said somewhere earlier.

 

I didn't play the trade, as I don't have a Bitcoin account/broker or want to play the ETFs. But if it can clear 530, (take 500 as a round number) raise the trailing stop to just under there, perhaps 480, and at each round number it crosses you do the same (600, 700, 800 to whatever it wants to go, 1000, 2000 maybe? etc).

 

BUT DO YOUR OWN RESEARCH EVERYONE!

 

Replace "bitcoin" with gold, silver, google, tulips etc. It just becomes another emotionless trade.

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