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I will say that the Cyprus bank account confiscation is the biggest reason I’ve heard for using bitcoin, outside of drug trafficking, etc. Also if you see the trajectory of Bitcoin, there are ~4 spikes of this magnitude every month! A week and a half ago, I put a sell order in for my small Bitcoin deposit at $60, which I wasn’t expecting to see for a few months. I first heard of Bitcoin when the Free Software Foundation announced they would start accepting it for donations. Bitcoin began life just two short years ago as what some may characterize as an experiment in a new currency.
Bitcoin is used for numerous legal tranactions as well, much like Bittorrent, such as donations to non-profits or paying for IT services.
After hearing about Bitcoins from countless of sources I still don't understand this "currency".
Even with what happened to MtGox, I think bitcoins are a good idea and might get pretty big.
If you view bitcoins as a stock then now should be the perfect time to invest in some bitcoin "currency" & wait for their value to rise. Yeah, the goverments will try and stamp bitcoin out, but at the end of the day they would have to censor the network traffic.
Bitcoin will only work if it is used like money, in other words if you have a bunch of money you dont leave it out for anyone to steal nor do you put it in a bank that will charge you fees until you have no money left.


Or maybe people have realized that the using bitcoins facilitates trading cars without creating a transaction for the IRS to track, either or. I recently saw a Craigslist posting where someone was willing to accept Bitcoins for a car he was selling (in California, of course). While the concept for Bitcoins has been floating around for a number of years, it wasn’t until around 2011 that the charts began making sense to track in a more meaningful way. The chart above shows that aside from a massive spike in volume in late 2011, the estimated transaction volume in Bitcoin is relatively stable, broadly speaking. Bitcoin charts over the past 12 months have shown consolidation after each spike, which led to next breakouts.
In the case of Bitcoin, which has trading history looking back to 2011, we have enough data to analyze for at least basic technical analysis. Just like lack of volume can make the charts of any asset trade in a choppy fashion, so too can a propensity to headline-risk shocks. Looking at the big run in Bitcoin prices in recent months, prices likely need to at the very least consolidate in coming weeks. Learn more about the strategies Serge Berger uses to create profits in the market every day. There are already multiple competitors to the original Bitcoin: Namecoin, Litecoin, Strongcoin, etc. Gox but for several reasons, the Electronic Frontier Foundation decided to no longer accept Bitcoin donations to help fund their civil liberties group.


Enough to know that Bitcoin is not a currency - it's a 'pure tokens' pyramid growth investment vehicle, which would like to be a currency as well. After looking at Bitcoin charts in multiple time frames over recent weeks, I noticed several constructive patters that would be conducive to profitable technical analysis. Charts with sporadic volume mean there is no real market (or at least not sufficient for true technical analysis). Stocks, commodities and currencies that lend best to technical analysis have moderate to little headline risk, and market participants have certain daily, monthly or quarterly events to focus around for above average price movements. After-all, there are a number of supporters of bitcoin -- such as financial pundit Max Keiser of Russia Today's "Keiser Report" -- who I'm sure would love to see it as much as me.
Technical analysis works best when something is constantly being traded, so any single large transaction can’t move the market in too big a way and completely alter the charts. Consider too that bitcoin is a global currency with few transaction costs in terms of acquisition (aside from the PITA of registering at exchanges if you acquire them with existing currencies, although I expect this issue to subside as they grow in popularity).



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09.06.2015 | Author: admin



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