[ExI] [mta] Re: Long Term Bitcoin Catastrophe?

Gordon gts_2000 at yahoo.com
Fri May 24 17:12:14 UTC 2013

Mirco Romanato <painlord2k at libero.it> wrote:

>For example, a cryptocurrency designed solely to solve the problem of

>ownership of shares of companies, contracts, etc. could be useful
>(instead of using "colored coins" over Bitcoin).

Good point. 

However, I've seen bitcoin compared to TCP/IP, as the underlying protocol of all potential uses of cryptocurrencies. I suppose this is what you mean by colored coins. I like the TCP/IP analogy. I'd rather see everything built over bitcoin.

As I type this, BTC is rallying up to and above $130 on decent volume. BTC was in a "pennant" consolidation pattern, but it looks now to be breaking out to the upside. I'm liking it. As I wrote in a previous post, if the price holds in this range on strong volume then I think it will bode well for the next 6-12 months. This is just my general sense of the price chart, looking at it from the point of view of a technical analyst. 

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