N O C O I N E R S

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only if you cashed out

I have 60 bitcoins and I'm cashing out now. This is the dead cat bounce.

i believe it is, it looks like one and many will notice this and that is a self fulfilling prophecy in the making.

...

Your attitude puts you in the "return to normal" phase.

Yea and the exchange is just gona give it to you right?

such is life and bitcoin

>There is no volume
The Chinese authorities removed a lot of the blatantly fake Chinese volume, yes.

youtube.com/watch?v=1lWJXDG2i0A

COPE

Just sold everything at 905 lol

>dead cat bounce

This is the Chinese exchanges implementing trading fees.
Linking this to some magically predetermined chart timeline is stupid.

Trading fees are a very good thing btw. Helps get rid of the stupidly fake Chinese volumes.

Last week or something, the Chinese exchanges stopped margin trading and leverage, and there was a dip and then swift recovery too.

That's cool and all, but who's going to buy the coin? How many bag holders are trapped at 1k+ USD?

0.2% is an insane fee (I'm sure they'll lower that), but given how high it is, it just reflects how much of their volume is faked.

Whales can't pump that high unless bag holders exit at a loss (otherwise they'll shit on the pump and unload their bags), this shakeout may last weeks to years.

You've seen the resistance at 6400 CNY. That's bag holders unloading. Whale decided to say fuck it and dumped.

Granted, this shake-out/dump may result in a higher push. In fact this may be the shake out necessary to push past 1k USD/7k CNY.

But at this time I don't care anymore. I've made more than a year's salary in three months.
I can buy back in at ANY price as long as the movement matches my position.

>Last week or something, the Chinese exchanges stopped margin trading and leverage, and there was a dip and then swift recovery too.

You have to realise that was 100% manipulation.
Whales crashed the price to 700-800s USD and bought it back up to 900s. They also cashed in on all the discounted futures contracts which they bought during the dump.

Anyways it does not look good for a bull market right now. If it tests 700s again the bottom WILL fall out.

Finally, we have to understand that retail investors have already been rekt and are dropping their bags right now.

google.com/trends/explore?q=buy bitcoin

See the decline? That's the nail in the coffin. Without retail "investors" this bubble is done.
If you want to get technical there's also divergence on RSI, MFI and various other indicators that suggest the buying side is weakening.

All that fake Chinese volume was because of the big Chinese three (Huobi, OKCoin, BTCChina) trying to outdo each other in volume.

For the traders themselves, very little has changed.

The Bitcoin market just got a LOT healthier.

>Whales crashed the price to 700-800s USD and bought it back up to 900s.
Panic after the PBoC oversight announcement did that.

Everybody knows the Chinese volumes were bullshit, and that's been corrected.

Last week I predicted that the PBoC was going to enforce trading fees, it was extremely predictable and VERY necessary.

The PBoC is a godsend for bitcoin.

Of course, but it doesn't mean it's going to go up. I'd short but idgaf and I'm running away with 50k+ usd profits in three months. I'm not mad if it pushes to 1k again, I just don't see it happening any time soon.

>it doesn't mean it's going to go up
Of course, but why wouldn't it?
This game is all about trust, and that trust just got a huge boost.

The only change that has happened since the start of PBoC involvement since January 5 has been for the better.

Of course this kind of announcement is going to startle a few people in the very short term, but in reality the stage is set for a much healthier bitcoin market.

If nothing else, people will now realize the Chinese don't actually own 98% of all bitcoin.
And this was one of THE biggest concerns these past months.

>This game is all about trust
that is probably where you are totally wrong.

the game is about greed and fear. simple as that. btc soars when people fear a financial collapse of hyperinflation or other government fuckery. then this fear alleviates they cash the fuck out because holding a volatile not liquid asset that has huge exchange cost is too risky when everything is running normal.

obviously the greed part is referring to the speculative use. but they are not immune to fear either they just fear different things.

>the game is about greed and fear. simple as that.
And trust.
Also, fear is literally a lack of trust.

Even the most hardened wall street shark looking for the shortest short will only buy if he trusts that shit is going to go up.

>Also, fear is literally a lack of trust.
indeed bitcoin is a trustless system driven by fear.

Oh, you're one of those retards.

it's true for 99.99% of the people: if they would not fear the erosion of their wealth they would never touch bitcoin. they wouldn't even care it exists. some probably has some geeky interest in the crypto currency itself some hold it speculatively expecting the rest of the populations fear turning into his profit.

trust does not play a role in it. sure people have to trust bitcoin will be worth anything in the future or they can exchange it for fiat in the future or everyone would drop it like a hot potato as it has happened once. but it's not trust in the traditional sense as there is none or no entity to trust it's more like wishful thinking or a shared delusion than real trust.

>if they would not fear the erosion of their wealth they would never touch bitcoin

I love how you spin the general concept of anti-inflationary investment into an attack on bitcoin.

You're an idiot, plain and simple.

>I love how you spin the general concept of anti-inflationary investment into an attack on bitcoin.
i don't spin shit, i'm just telling you that no matter what you hallucinate bitcoin price is only moved by fear and greed. but mostly fear.

>You're an idiot, plain and simple.
i can tell you ran out of arguments user. it's okay! you don't have to win every debate on the internet.

Everything you said is just as """true""" for ANY commodity/investment/currency/...

in a way yes. but there is a difference between bitcoin and the other assets used as hedge.

bitcoin is mighty hard to confiscate or stop at the borders. so at one point when the shit really hits the fan gold and stuff will not be a real option. that is when bitcoin rallys happen. greece, china, india, venezuela etc...

just watch when the economy is healthy and there is low level of general fear bitcoin slumps down.

One thing I've learned by heart is:
Do the opposite thing to what Veeky Forums says.

but then you will not do anything. you can't find a single topic with general consensus.

Now you're talking sense.

And while it's true that times of confiscation and fear are part of bitcoin's appeal, remember that bitcoin would be useless in the the ultimate masturbatory fear of SHTF.

Also, bitcoin has a lot more going for it than being a handy commodity during times of turmoil.
It's also free from the direct influence of politicians, bankers, and corporate boardrooms.
Globalism done right, you might say. And this is coming from a staunch anti-globalist (the Soros kind at least).

anyone want 0.00008838 BTC?
it's the leftover from my selling everything, anyone that posts a btc address that rhymes with his get gets it.

>It's also free from the direct influence of politicians, bankers, and corporate boardrooms.
A quick example:
bloomberg.com/news/features/2017-01-19/how-deutsche-bank-made-367-million-disappear

Not only is bitcoin a very sound concept in theory, the blockchain also makes it genius in practice.

13gqaceTJePmrbVmNHz1Pmz3iv1Mk1JQfB

Do you even know how to rhyme?

sorry user i didn't check if there is a minimum. well fuck.

Yes? He transfers the btc to localbitcoins or coinbase and sells it. Everyone who pretends that its hard to sell bitcoins are a bunch if morons, it literally takes less than 15 minutes at worst.

I'll send you .00002, what's your address

1P5XmvGkyre7Ho3kwnsUBunfsa2WeP9ZT

wait 1P5XmvGkyre7Ho3kwnsUBunfsa2WeP9ZTj

bad copy paste

do you want me to send it to the other guy or your address?

Send it to the other guy. Sent BTW.

i see it, ok

go gamble it on some satoshi dice site

if i can't transfer it to that user i sure as hell can't do anything about it.

localbitcoinschain.com/address/1P5XmvGkyre7Ho3kwnsUBunfsa2WeP9ZTj

it's weird the transaction confirmed many times over and the amount was already spent by localbitcoins. yet it is not showing up on my account.

localbitcoins.com/faq#gs-how-long-to-receive
ahhahaha
>localbitcoins.com/faq#gs-how-long-to-receive
i really should read that shit thoroughly one day.

the fucking assholes will never credit it.

well fuck i tried. sorry about it anons!

>*Please note that the minimum you can send to your LocalBitcoins wallet is 0.0002 BTC. Bitcoin deposits less than that are not processed.

The Bitcoin giveth and the Bitcoin taketh away :^)

>the blockchain also makes it genius in practice.
... because among others you couldn't make shit disappear like Deutsche Bank did in that article, if that wasn't clear.

Screencapped

its already been screencapped!
just save the image

Screencapped

I have been buying every dip since january 2015 and making tons of money.

Honestly who doesn't get rich with this

They are tracking you and have all the exits tapped.

No one gets rich for free.

This ends so badly.