3 Reasons bitcoin is going down..

[Sub-Ether]

At the risk of being outrageously wrong (again), here goes,

1) The number of bitcoin days destroyed has a massive 50,000,000 spike, last time this happened in November the price dropped precipitously.
https://blockchain.info/charts/bitcoin-days-destroyed-min-month

2) My wallet has a transfer of 1.3 million and 700k bitcoins in the last few days, thats a lot of bitcoins moving around!
https://blockchain.info/charts/my-wallet-transaction-volume

3) Mike Hearn has left the building.
https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7
http://www.nytimes.com/2016/01/17/business/dealbook/the-bitcoin-believer-who-gave-up.html

''But despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly. The fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards. I will no longer be taking part in Bitcoin development and have sold all my coins.

Why has Bitcoin failed? It has failed because the community has failed. What was meant to be a new, decentralised form of money that lacked “systemically important institutions” and “too big to fail” has become something even worse: a system completely controlled by just a handful of people. Worse still, the network is on the brink of technical collapse.''

~~ Mike Hearn~~

 

[nightowl]

Guys we have to make Mike Hearn see the light. We cannot let him go down. He's just not seeing the whole picture. It's like the Wright Brothers saying...."Aaah damn, our plane failed. We could only fly 12m on the first flight".

Dash is the evolution of the flat wing to the curved wing.

Mike Hearn! This is just the beggining! Today we have Boeings, Airbusses, Lockheed Martins. We have amazing planes! Evolution never stops!

Calling all heavyweight high profile Dash community members!

 

[GrandMasterDash]

He's not out of crypto, he's out of bitcoin, now with R3 I believe. It's a bad day for bitcoin but a good day for alts. Long live the alts!

 

[nightowl]

I just want to say thank you for your post Sub-Ether. I don't read /r/bitcoin or /r/btc anymore. I just got tired of the same old same old "Thymos blah blah, Blocksize blah blah"

Just liquidated my last bitcoin (up until now I was a 50% BTC / 50% Dash guy). Don't worry. I didn't take your post as investment advice, your post prompted me to draw my own conclusions and I acted on my own.

But if it wasn't for you I would have missed it. I managed to move my funds before america got up at (their) 7am. I think it's going to be an interesting day in terms of price moves.

Once again thank you!

 

[Sub-Ether]

I just want to say thank you for your post Sub-Ether. I don't read /r/bitcoin or /r/btc anymore. I just got tired of the same old same old "Thymos blah blah, Blocksize blah blah"
Just liquidated my last bitcoin (up until now I was a 50% BTC / 50% Dash guy). Don't worry. I didn't take your post as investment advice, your post prompted me to draw my own conclusions and I acted on my own.
But if it wasn't for you I would have missed it. I managed to move my funds before america got up at (their) 7am. I think it's going to be an interesting day in terms of price moves.
Once again thank you!

Down again I believe, not all of us are bullish, and its a highly manipulated massive fake volume of small trade sizes that generally produces little price movement on the Chinese exchanges that is switched on 1 time every day. Key times to watch out for are 04.00 and 1600, I guess this is around office hours somewhere, only reason its possible is they do not charge exchange costs.
Watch for the arbitrage/crossover points between the Chinese exchanges and the rest (coinbase, bitfinex etc) this is a potential tell sign of direction.

 

[nightowl]

Down again I believe, not all of us are bullish, and its a highly manipulated massive fake volume of small trade sizes that generally produces little price movement on the Chinese exchanges that is switched on 1 time every day. Key times to watch out for are 04.00 and 1600, I guess this is around office hours somewhere, only reason its possible is they do not charge exchange costs.
Watch for the arbitrage/crossover points between the Chinese exchanges and the rest (coinbase, bitfinex etc) this is a potential tell sign of direction.

Something tells me you just gave me a really really awesome piece of information. I'm not a very technical trader yet, although I want to be! I got most of what you said but will dissect it in detail. Thank you Sub-Ether!

But in the end, it's all good. I'm a long term investor and in this entire crypto game, a true and clear winner will eventually emerge. The whole game for me is "guessing who has the best formula". I'm looking 5/6 years in. I'm very happy about my move today and I'm quite happy with violent swings every day. It's the long term moving average that will get me all excited.

But please continue posting these posts even if you could be "At the risk of being outrageously wrong (again)" because I learned a lot today!