Topic: And now - the sucker's rally - page 5. (Read 13926 times)

LOL   

And this is how a 'hero' member express himself... haha - too funny!

here - 11/March/2013

Here are some of the people that were shocked at how high and how fast the price went to 50

"Jesus are we going to hit 50 today?"

https://bitcointalksearch.org/topic/jesus-are-we-going-to-hit-50-today-149245


"BitCoin Party"

https://bitcointalksearch.org/topic/bitcoin-party-149217


"Max Keiser/Stacy Herbert Tweeting like crazy about bitcoins"

https://bitcointalksearch.org/topic/max-keiserstacy-herbert-tweeting-like-crazy-about-bitcoins-149805


"You’re all getting Greedy"

https://bitcointalksearch.org/topic/yall-are-getting-greedy-149873


oh well you know what – just go to 11/March in  this forum... here

https://bitcointalk.org/index.php?board=57.1440


GotBitCoins

In other words "This time is different"... I lived long enough to hear this crap over and over again, just before and after the top!

yea I would say that we indeed WERE in the stage were everybody were talking about it! It was in Bloomberg as well as the local news on a daily basis! All sorts of meetups, daily bitcoin shows, ATMs, exchanges and such. Just few hours before it crashed my boss and his boss came to me to ask if it's really true that I am a millionarie, etc - On my way down the elevator I thought about the 1930 crash and how Joseph Patrick "Joe" Kennedy got his tip to sell when the shoe shine boy started tipping me which stock should be bought. But of course I was deluded too to believe that it shall continue to 500$ before the first blow.

Also - unfortunately this bubble was too high, too fast - way more than the silver price action in 1980 - so indeed... really - maybe - just because of this - this technology is gonna be burned. I am quoting here Satoshi Nakamoto when he was asked by Wikileaks if they can adopt Bitcoin :

"The project needs to grow gradually so the software can be strengthened along the
way. I make this appeal to Wikileaks not to try to use Bitcoin. Bitcoin is a small beta
community in its infancy. You would not stand to get more than pocket change, and the
heat you would bring would likely destroy us at this stage."

I think things went out of hand, it became parabolic!! maybe without it - it could have lasted for years to come! Greed destoyed it even before it was adopted.

The cheering crowds in this forum are cheering because the price is going up again - but let me tell you bubbles are an evil thing - this suckers rally is gonna continue as long as it can suck suckers in - until the point where I, myself will not be so sure that the price is going down to the teens, and then it shall be all over. In a bull market it takes weeks to months for the bubble to find the low - that's in bull markets - but this one here - I am not sure at all if the bull shall resume - not at all!!

GotBitCoins.

Those stories won't be told in Vladimir's club I guess.

lol, another stupid thread for me to laugh at.

This time it's different 

You can still bet. When it hits $10, you lost

Not with today's fundamentals.

Who are these "people" you speak of? I think $50 is very very undervalued price for 1 BTC.

Because E must be a VERY under-valued price!! When Bitcoin reached 47$ people were shocked how high it went and how huge the bubble is - don't you forget that!!!!! 50$ is still a huge bubble with lots of cheering crowds! those crowds should be evaporated before you can say that the low is in!! If before the bubble started the price was say 10$ - then the fear and anxiety of all the cheering crowds right now is going to take the price lower than 10$  - that's a REAL E !!

I would say zoom out a little bit, think about months/years not days, and you will see that we could very well still be at A. This is still very early adopter stage, as we are talking about a global techology with possibly huge adoption potential.

Just compare this with apple and the iOS tsunami for example. Are we at the stage where everyone and their mother has BTC, everyone talks about it to death, all hedge funds invest in it and guarantee unlimited growth (we're past this for AAPL and price has now crashed)? Or are we still at a stage where people discover this, journalists still scrambling to understand it, most of your friends don't know about it, and very few mothers own BTC? If you think about all the money in circulation globally, and a 'market share' for BTC, I am guessing we are well under 1%, probably a few decimals from that? Certainly a lot less that when apple market share when stock was trading at $15.

Of course BTC is a game changer, the first global currency, so hard to compare with a generic chart which probably applied to pets.com and other high branding-low innovation startups.

Of course this is really speculation land, no one can predict world events that could really alter the price, or whether big money (hedge funds etc) will decide to get on board or fight this to the ground.

why didn't you label your graph like this?

BTCubble Chart Use Rally!

Thanks for your many, many, well-considered, erudite and illuminating posts on this forum.

Thanks also for that chart, it's been at least 3 days since I've last seen it. I live in fear of forgetting every bump and valley of that chart. With your help that need never happen.

Cool story bro.
But you didn't realise one thing. Bitcoin is just getting to the next level - mainstream. Huge bubble is comming soon. This is just a beginning of the story.

Isn't that standard way of doing it on these forums?

I would say it's on high side from begining of the year...

I'm so tired of seeing that chart.

$10? We're probably due for a correction after this rise but it won't be hitting anywhere near that.