Topic: Bear appreciation thread!! (Read 5746 times)
No I expect price to fluctuate wildly, even more so than we have now, and for those invested to feel the desperation of long drawn out lows like in 2011. Having invested @ $2.80 I can't help but think this feels like a ponzi, but it isn't, and it's about to explode. I'll fish out the yearly April 5th prediction next year, and I think I'll be on the money.
I was just learned that Bitcoin isn't a ponzi - which is huge as I think it carries some similarities.
http://www.youtube.com/watch?v=7u4F8cpzqao
The beauty of the discovery presents market fluctuations and the equivalent crash as a run on the bank, typical of free banking at the turn of the century.
So when the price crashes, it is nothing more than speculators losing confidence and the resulting a run on the bank.
The June 2011 Bitcoin bank run nearly bankrupted the Bitcoin community, but with every bank run, the Bitcoin community gets stronger and more resilient. The last didn't even come close to bankruptcy.
I was just informed that Bitcoin isent a ponzi
http://www.youtube.com/watch?v=7u4F8cpzqao
The beauty of the discovery presents market fluctuations and the equivalent crash as a run on the bank, typical of free banking at the turn of the century.
So when the price crashes, it is nothing more than speculators losing confidence and the resulting a run on the bank.
The June 2011 Bitcoin bank run nearly bankrupted the Bitcoin community, but with every bank run, the Bitcoin community gets stronger and more resilient. The last didn't even come close to bankruptcy.
I was just informed that Bitcoin isent a ponzi
Why in the world did you think Bitcoin price should not fluctuate wildly? Obviously it can't just go up like a exponential function. I mean if, let's say the stock of Google were not given any price tag at its IPO, and were sold to anyone who made the highest bid, however much that is, even if it's zero, its price would have followed pretty much the same trajectory as Bitcoin, but can we call such a stock a Ponzi simply because its price goes up millions of times in a short time frame? Hell no.
The price history of Bitcoin is simply a reflection of a fact: nothing in the human history, has been traded in this way and has had its whole price history documented.
I was just learned that Bitcoin isn't a ponzi - which is huge as I think it carries some similarities.
http://www.youtube.com/watch?v=7u4F8cpzqao
The beauty of the discovery presents market fluctuations and the equivalent crash as a run on the bank, typical of free banking at the turn of the century.
So when the price crashes, it is nothing more than speculators losing confidence and the resulting a run on the bank.
The June 2011 Bitcoin bank run nearly bankrupted the Bitcoin community, but with every bank run, the Bitcoin community gets stronger and more resilient. The last didn't even come close to bankruptcy.
I was just informed that Bitcoin isent a ponzi
http://www.youtube.com/watch?v=7u4F8cpzqao
The beauty of the discovery presents market fluctuations and the equivalent crash as a run on the bank, typical of free banking at the turn of the century.
So when the price crashes, it is nothing more than speculators losing confidence and the resulting a run on the bank.
The June 2011 Bitcoin bank run nearly bankrupted the Bitcoin community, but with every bank run, the Bitcoin community gets stronger and more resilient. The last didn't even come close to bankruptcy.
I was just informed that Bitcoin isent a ponzi
I will give precisely fuck zero credit to any of the bears going full retard in this thread...
The bears in here were every bit as uninformed, lazy and obnoxious as their bullish counterparts who are now cheering "we'll reach 1000 next week". Good thing there's a least a few people I enjoy reading in this forum. The crowd in this thread? Not so much.
Quote from: evolve
There is no guarantee the price will ever raise this high again.
The bears in here were every bit as uninformed, lazy and obnoxious as their bullish counterparts who are now cheering "we'll reach 1000 next week". Good thing there's a least a few people I enjoy reading in this forum. The crowd in this thread? Not so much.
Give lots of credit to proudhon - he made some very reasoned posts, and I distinctly remember him turning bullish during the extremely heavy test of the $50 bottom. "Looks like this is the bottom," he said, and he turned out to be very right.
The bears will get to play again some time, but I think the time is probably not right now. The bulls are back in town, and boy does it feel good.
The bears will get to play again some time, but I think the time is probably not right now. The bulls are back in town, and boy does it feel good.
Bump 
Bump.
Lets see how this "Price is `stable` in the 80-90 range" period plays out.
Lets see how this "Price is `stable` in the 80-90 range" period plays out.
It think in the short term is't going pop out of that range both ways. Still though, I've been very surprised by the response post crash. I was expecting much, much worse; but to the contrary, the crash seems to have shaken the existing market infrastructure enough that its managers are beginning to significantly improve it. But what's even better is that it seems to have attracted the attention of people who might be able to bring a new level of expertise to the bitcoin market, and the hope is that that will make it, at least, more resistant to attack and more capable of handling higher demand. I don't expect the volatility problem to be anywhere near solved for years, probably decades, but it can be managed better, and I think it will be in the near future.
These bulls are strong like bull! But panic sell off is strong like avalanche!
Bump.
Lets see how this "Price is `stable` in the 80-90 range" period plays out.
Lets see how this "Price is `stable` in the 80-90 range" period plays out.
It think in the short term is't going pop out of that range both ways. Still though, I've been very surprised by the response post crash. I was expecting much, much worse; but to the contrary, the crash seems to have shaken the existing market infrastructure enough that its managers are beginning to significantly improve it. But what's even better is that it seems to have attracted the attention of people who might be able to bring a new level of expertise to the bitcoin market, and the hope is that that will make it, at least, more resistant to attack and more capable of handling higher demand. I don't expect the volatility problem to be anywhere near solved for years, probably decades, but it can be managed better, and I think it will be in the near future.
Bump.
Lets see how this "Price is `stable` in the 80-90 range" period plays out.
Lets see how this "Price is `stable` in the 80-90 range" period plays out.
Getting close to the post crash low...
*live graph*
looks about right.....
*live graph*
looks about right.....
knowing how Bitcoin will cause deflation in the long run wouldn't it be best to put your attention on saving rather than taking losses now, not everyone is a trader?
There is no guarantee the price will ever raise this high again. "Saving" could be throwing good money after bad.
Sure and I thought $30 in 2013 was a wild dream, so are you buying, selling or holding?
Buying if the price gets low enough, Selling BTC I made from flipping a few XRP today, and Holding onto USD in the meantime.
knowing how Bitcoin will cause deflation in the long run wouldn't it be best to put your attention on saving rather than taking losses now, not everyone is a trader?
There is no guarantee the price will ever raise this high again. "Saving" could be throwing good money after bad.
Sure and I thought $30 in 2013 was a wild dream, so are you buying, selling or holding?
Obvious bubble was obvious.
But there's a lot more to the story
Hold on and stay tuned for more deflatonary fireworks. Bitcoin, gold, and now the s&p are joining in on the fun
Stay short or die
-BA
But there's a lot more to the story
Hold on and stay tuned for more deflatonary fireworks. Bitcoin, gold, and now the s&p are joining in on the fun
Stay short or die
-BA
It isn't out of the question that bitcoin recovers from what is clearly the worst market event in its history, but if it does crawl out of this pic, it won't be for many, many years. It's going to take a very long time to build trust again. Developers will have lots of time to build more robust infrastructure on top of bitcoin, while it hobbles along at values much lower than they are now and with far fewer participants. If the infrastructure is built out properly with scalability planned for in advance, bitcoin has a chance of making it out of this. If the market decides to get enthusiastic before the infrastructure is ready, or developers decide developing infrastructure just isn't worth the risk, then that's it for bitcoin.
Yes.
knowing how Bitcoin will cause deflation in the long run wouldn't it be best to put your attention on saving rather than taking losses now, not everyone is a trader?
There is no guarantee the price will ever raise this high again. "Saving" could be throwing good money after bad.
It isn't out of the question that bitcoin recovers from what is clearly the worst market event in its history, but if it does crawl out of this pic, it won't be for many, many years. It's going to take a very long time to build trust again. Developers will have lots of time to build more robust infrastructure on top of bitcoin, while it hobbles along at values much lower than they are now and with far fewer participants. If the infrastructure is built out properly with scalability planned for in advance, bitcoin has a chance of making it out of this. If the market decides to get enthusiastic before the infrastructure is ready, or developers decide developing infrastructure just isn't worth the risk, then that's it for bitcoin.
The 2013 bubble introduced the world to Bitcoin. It would take something an order of magnitude greater than the recent media hype cycle to keep this from sliding down over the next few weeks. We are destined for single digits....where we will likely stay for quite awhile. And that is where we should be.
Any future bubble will need to be driven by fundamentals. A game-changing idea could spring forth from Bitcoin (or something similar) over the course of the year, but even that doesn't mean that Bitcoin would or should see highs anywhere near what we've recently seen. IMO Bitcoin can successfully herald a great financial innovation and still not be a good direct investment, certainly at these levels.
Any future bubble will need to be driven by fundamentals. A game-changing idea could spring forth from Bitcoin (or something similar) over the course of the year, but even that doesn't mean that Bitcoin would or should see highs anywhere near what we've recently seen. IMO Bitcoin can successfully herald a great financial innovation and still not be a good direct investment, certainly at these levels.
knowing how Bitcoin will cause deflation in the long run wouldn't it be best to put your attention on saving rather than taking losses now, not everyone is a trader?
There is no guarantee the price will ever raise this high again. "Saving" could be throwing good money after bad.
Gold seems to be having a worse time than bitcoin right now. But both are going down...
The falling price in its own right shouldn't provoke negative sentiment. It is (or will be) a buying opportunity.
The falling price in its own right shouldn't provoke negative sentiment. It is (or will be) a buying opportunity.
One reason I bought more BTC today at $71 is there maybe some moving over gold to BTC now. I'm still not all in but at least I once again own coin which feels great. We could slowly keep going down and I'm fine with that but, I'm not so sure this bubble burst is going to go that way. As for gold it is going down as the economy and markets go up.
I would not suggest buying gold. Over $1200 is for sure a bubble and the better economy, jobs, and housing do the lower gold will go. Don't listen to fake news websites like Newsmax that want to sell you a book and tell you the sky is falling. Gold does have some uses but, less than most people think. I'll probably buy back some new gold coins as it drops. Not because I believe in gold but, because I love gold coins and diversification. I always buy low and sell high but, I'm not sure gold is low enough yet.
People drove gold to $1800 because they were scared of the market.
Nah, I think we are done. We are solidly into "the long slow slide to singles" territory now, IMO.
You can sense the sentiment changing as more and more people, especially those who bought over $100 start to realize they made a terrible mistake. Here's why we're going to single digits. There are probably millions of people into bitcoin now, and for the vast majority of them, this is their first introduction to markets. They will continue to panic. Everytime the price goes down like this, more and more of holders beginning think it might be time to cut losses or protect profits. Just think about how heavy and depressing sentiment got in 2011, and now multiply that by a lot. Welcome to 2013.
I think you are most probably correct, but knowing how Bitcoin will cause deflation in the long run wouldn't it be best to put your attention on saving rather than taking losses now, not everyone is a trader?
What is happening now is an inflation event; if I read you correctly you are almost making fun of people who are cashing out instead of giving them advice. The last year and a half up to the end of 2012, from the peek of $30 inflation encouraged a lot of investment (I'll take swindling off the list of investments as I think there were more ponzis than businesses) but we did get ASIC system and ASIC mining outfits all adding a whole lot of infrastructure to the foundation of the Bitonomy.
The only depressing sentiment I felt in 2011 was why didn't I trust my gut and get in when I first read about Bitcoin, the rest was a huge opportunity for those who could see how Bitcoin would change how an economy could function.
It is (or will be) a buying opportunity.
At or near the bottom, yes.
Buying on the way down is risky and leaves you open to get burned hard.
Gold seems to be having a worse time than bitcoin right now. But both are going down...
The falling price in its own right shouldn't provoke negative sentiment. It is (or will be) a buying opportunity.
The falling price in its own right shouldn't provoke negative sentiment. It is (or will be) a buying opportunity.
To be fair, I respect bears, it's only the "single digits" stuff I snigger at. The long-run bear scenario I envisage for bitcoin would be basically $0 rather than, say, $5.
Single digits still aren't out of the question...I think the price will continue to slide downward for a while. One more big screwup from Gox, or a hack or something could knock it there in one shot, though. I think the speculators and true believers will keep this thing from going to zero.
$5 by the end of the weekend, WATCH IT HAPPEN
Nah, I think we are done. We are solidly into "the long slow slide to singles" territory now, IMO.
You can sense the sentiment changing as more and more people, especially those who bought over $100 start to realize they made a terrible mistake. Here's why we're going to single digits. There are probably millions of people into bitcoin now, and for the vast majority of them, this is their first introduction to markets. They will continue to panic. Everytime the price goes down like this, more and more of holders beginning think it might be time to cut losses or protect profits. Just think about how heavy and depressing sentiment got in 2011, and now multiply that by a lot. Welcome to 2013.
Nah, I think the top is in, and the bubble is popping.
We are solidly into "the long slow slide to singles" territory now, IMO. Still plenty of profit opportunities on the way down, though if you dont mind catching falling knives.
We are solidly into "the long slow slide to singles" territory now, IMO. Still plenty of profit opportunities on the way down, though if you dont mind catching falling knives.
Interesting timing of Winklevoss news. I suspect the media may get back into the pump game very soon.
Proudhon, I have a few questions for you.
Welcome to the forum. I hope you don't think Proudhon is level-headed knowledge exemplar. He's been screaming death to bitcoin since he was a baby.
Proudhon, I have a few questions for you.
Do you think BTC is enough of a threat to the mainstream fractional usury currencies that the centralbanks would bankroll (pay) people to go on BTC forums and give consistently negative opinions about everything to do with BTC?
Do you believe the 266 to 55 crash was orchestrated by a handful of operators trying to crash BTC completely?
For the record, do you yourself own any BTC? Tens, hundreds or thousands?
Do you think BTC is enough of a threat to the mainstream fractional usury currencies that the centralbanks would bankroll (pay) people to go on BTC forums and give consistently negative opinions about everything to do with BTC?
Do you believe the 266 to 55 crash was orchestrated by a handful of operators trying to crash BTC completely?
For the record, do you yourself own any BTC? Tens, hundreds or thousands?
Bumping, since (apparently) some of you have forgotten about the last crash already.
be careful with your money,people....
be careful with your money,people....
it is human nature to get ripped off, nothing you say or do will change that.
Years from now a bitcoin might be worth 10,000 dollars, or it might be worth nothing at all. No one really knows.
The louder someone shouts about how "We are going to see single digits soon!' or "More Cheap coins!", the more likely they are to have something to gain from it. Be it by dropping the price so they can buy low and sell high, or just trying to force the price up even higher, making what they already have worth more.
Which is why your best bet is to laugh at both of the extremists and make up your own mind.
Personally i think the price is still high, but i could well be wrong. I also believe the new hardware starting to hit the market is driving this massive price surge(trying to get in before the difficulty drives gpu's out of the market, and the turmoil associated with that.)
The new hardware starting to hit the market could solidify bitcoin into something lasting, or it could drive out the little guy and bring the whole system crashing down. Again, no one knows... And anyone who says otherwise is full of crap.
Bumping, since (apparently) some of you have forgotten about the last crash already.
be careful with your money,people....
be careful with your money,people....
A more diverse exchange market, for one thing, populated by exchanges that follow sound policies and use more robust and expandable trading systems. I get it, we had to start somewhere, and were quickly overwhelmed by new users, so there's really not much anyone could have done. And I say this not without a sense of irony, but bitcoin's success now depends on well funded Wall Street types getting involved and implementing the same types of exchange infrastructure used in mature global markets. Bitcoin was created in part to stick it to the traditional banking system, but it's survival now depends on people from that very system coming in and using their resources to build a stronger financial services market on top of bitcoin.
So in your view, only really really big money has the capability to create an exchange which is sufficiently robust for Bitcoin to grow?Is this the only infrastructure improvement you think is necessary, or can you name others?
Line up to get your "I told you so's"
We told you this price rise was unsustainable, but the echo chamber shouted us down.
We told you that buying after the $20 mark was risky, and we shouted even louder when the price hit triple digits.... but again we were drowned out by "new paradigm" and "up, Up, UP" talk.
When we told you all to take profits while you could, you laughed it off.
The bulls even tried to convince othershills forum members to leverage debt to buy in....well, where is that easy money now? Still a smart idea to spend those student loans on bitcoin? Still glad you took out that second mortgage?
Come on in and give it up for proudhon, me, daily anarchist, arepo, lucif, adam, electric mucus, and all the others that tried to warn you...we'll be watching this thing slide down with popcorn in our hands!! (maybe next time youll listen)
We told you this price rise was unsustainable, but the echo chamber shouted us down.
We told you that buying after the $20 mark was risky, and we shouted even louder when the price hit triple digits.... but again we were drowned out by "new paradigm" and "up, Up, UP" talk.
When we told you all to take profits while you could, you laughed it off.
The bulls even tried to convince other
Come on in and give it up for proudhon, me, daily anarchist, arepo, lucif, adam, electric mucus, and all the others that tried to warn you...we'll be watching this thing slide down with popcorn in our hands!! (maybe next time youll listen)
its not over yet ... come out of your holes if we hit 00,00 ..
its funny .. ther are about 50/50 bulls and bears ,, if the market turns either way.. they are godlike... its all about probability ,, and participating.. chose your risk.. and bring it on! .. everything else.. sucks balls...
People won't truly understand how foolish it is to value bitcoins at more than, very optimistically, low double digits without robust infrastructure until this catastrophe reaches it's inevitable end in the single digits.
What kind of infrastructure would you like to see before you'd be willing to believe that Bitcoin is ready to grow?A more diverse exchange market, for one thing, populated by exchanges that follow sound policies and use more robust and expandable trading systems. I get it, we had to start somewhere, and were quickly overwhelmed by new users, so there's really not much anyone could have done. And I say this not without a sense of irony, but bitcoin's success now depends on well funded Wall Street types getting involved and implementing the same types of exchange infrastructure used in mature global markets. Bitcoin was created in part to stick it to the traditional banking system, but it's survival now depends on people from that very system coming in and using their resources to build a stronger financial services market on top of bitcoin.
Those types will be first to sell for dirty fiat.
Actually they gonna sell in a few hours.
People won't truly understand how foolish it is to value bitcoins at more than, very optimistically, low double digits without robust infrastructure until this catastrophe reaches it's inevitable end in the single digits.
What kind of infrastructure would you like to see before you'd be willing to believe that Bitcoin is ready to grow?A more diverse exchange market, for one thing, populated by exchanges that follow sound policies and use more robust and expandable trading systems. I get it, we had to start somewhere, and were quickly overwhelmed by new users, so there's really not much anyone could have done. And I say this not without a sense of irony, but bitcoin's success now depends on well funded Wall Street types getting involved and implementing the same types of exchange infrastructure used in mature global markets. Bitcoin was created in part to stick it to the traditional banking system, but it's survival now depends on people from that very system coming in and using their resources to build a stronger financial services market on top of bitcoin.
Those types will be first to sell for dirty fiat.
People won't truly understand how foolish it is to value bitcoins at more than, very optimistically, low double digits without robust infrastructure until this catastrophe reaches it's inevitable end in the single digits.
What kind of infrastructure would you like to see before you'd be willing to believe that Bitcoin is ready to grow?A more diverse exchange market, for one thing, populated by exchanges that follow sound policies and use more robust and expandable trading systems. I get it, we had to start somewhere, and were quickly overwhelmed by new users, so there's really not much anyone could have done. And I say this not without a sense of irony, but bitcoin's success now depends on well funded Wall Street types getting involved and implementing the same types of exchange infrastructure used in mature global markets. Bitcoin was created in part to stick it to the traditional banking system, but it's survival now depends on people from that very system coming in and using their resources to build a stronger financial services market on top of bitcoin.
Joining the I told you so party.
What saddens me is that this time it will be the big fish wasting a bunch of newbs.
What saddens me is that this time it will be the big fish wasting a bunch of newbs.
People won't truly understand how foolish it is to value bitcoins at more than, very optimistically, low double digits without robust infrastructure until this catastrophe reaches it's inevitable end in the single digits.
What kind of infrastructure would you like to see before you'd be willing to believe that Bitcoin is ready to grow? I see no one has learned their lesson yet, people are already buying it back up into triple digits...some of you are gonna get burned (again).
People won't truly understand how foolish it is to value bitcoins at more than, very optimistically, low double digits without robust infrastructure until this catastrophe reaches it's inevitable end in the single digits.
I'm no Proudhon or Lucif, but I certainly tried to put in my two cents. I was actually shocked we didn't correct like this at $145ish...and then I was afraid I had underestimated the irrational exuberance.
https://bitcointalksearch.org/topic/m.1780819
https://bitcointalksearch.org/topic/m.1783033
https://bitcointalksearch.org/topic/m.1780819
https://bitcointalksearch.org/topic/m.1783033
People can't say they weren't warned.
I see no one has learned their lesson yet, people are already buying it back up into triple digits...some of you are gonna get burned (again).
I'm no Proudhon or Lucif, but I certainly tried to put in my two cents. I was actually shocked we didn't correct like this at $145ish...and then I was afraid I had underestimated the irrational exuberance.
https://bitcointalksearch.org/topic/m.1780819
https://bitcointalksearch.org/topic/m.1783033
https://bitcointalksearch.org/topic/m.1780819
https://bitcointalksearch.org/topic/m.1783033
It's good to have people who can keep their heads during huge gains. I appreciate you!
Now that the wind has finally changed, I think I may as well repeat my question from before: proudhon, what on earth was going on with you calling the top over and over? Have you figured out what you were misinterpreting?
Now that the wind has finally changed, I think I may as well repeat my question from before: proudhon, what on earth was going on with you calling the top over and over? Have you figured out what you were misinterpreting?
I did the same thing and I realized I had not calibrated my oscillators for the incredibly large influx of money into the economy. They were screaming overbought, and I was worried that it all would lead to such a speculative bubble, but it really did seem to be on the verge of tipping at many, many points during this insane run-up.
And it'll probably happen again. Still a tiny market and governments will continue to be stupid.
Eventually the bulls are wrong!
All images which don't resemble something we know every detail of very well will resemble each other.
Show a pic of Justin Bieber's face to an alien followed by a pic of Samuel L Jackson and they'll shout - it's the same, it's the same!!!111 (don't try this at home).
Those charts are: an up bit and a down bit. They are certainly not the same.
It's good to have people who can keep their heads during huge gains. I appreciate you!
Now that the wind has finally changed, I think I may as well repeat my question from before: proudhon, what on earth was going on with you calling the top over and over? Have you figured out what you were misinterpreting?
Now that the wind has finally changed, I think I may as well repeat my question from before: proudhon, what on earth was going on with you calling the top over and over? Have you figured out what you were misinterpreting?
I did the same thing and I realized I had not calibrated my oscillators for the incredibly large influx of money into the economy. They were screaming overbought, and I was worried that it all would lead to such a speculative bubble, but it really did seem to be on the verge of tipping at many, many points during this insane run-up.
It's good to have people who can keep their heads during huge gains. I appreciate you!
Now that the wind has finally changed, I think I may as well repeat my question from before: proudhon, what on earth was going on with you calling the top over and over? Have you figured out what you were misinterpreting?
Now that the wind has finally changed, I think I may as well repeat my question from before: proudhon, what on earth was going on with you calling the top over and over? Have you figured out what you were misinterpreting?
Yes the last two weeks of growth was unsustainable and now we've seen a correction. To say that BTC is going down to sub-dollar levels is foolish.
A correction like this is usually an over reaction, just as the rise was. We're seeing lots of support at $70 - $80 so I think that is the low side and we'll be back around $100 by the end of next week.
I really don't think we'll see BTC below $50 because of this. The worst is behind us and we're still on track for massive growth this year. This is a buying opportunity.
A correction like this is usually an over reaction, just as the rise was. We're seeing lots of support at $70 - $80 so I think that is the low side and we'll be back around $100 by the end of next week.
I really don't think we'll see BTC below $50 because of this. The worst is behind us and we're still on track for massive growth this year. This is a buying opportunity.
moral of the story: smart bulls always win, i-told-you-so bears dont earn crap. congrats
The bears locked in their profits while everyone was still going on about the mythical $1000 bitcoin.....it was the bulls that had to catch a falling knife (and I guarantee there were a lot more losers than winners).
I'm one of those people you mentioned having put everything I own into BTC. Took equity out of the house, sold a whole range of electronics, even furniture, and put it all in.
I sold at $237 (on the way down from 266)
Bought at $117 (on the way up from 105)
Sold at 178 (on the way down from 194)
and now I'm prepping to buy all back in in the $70 range. It'll be 100 sometime Monday.
moral of the story: smart bulls always win, i-told-you-so bears dont earn crap. congrats
I sold at $237 (on the way down from 266)
Bought at $117 (on the way up from 105)
Sold at 178 (on the way down from 194)
and now I'm prepping to buy all back in in the $70 range. It'll be 100 sometime Monday.
moral of the story: smart bulls always win, i-told-you-so bears dont earn crap. congrats
you dun good, but know you're among few. bears earned a lot more than, say, the bottom 75% of bulls (0 > -x)
Eventually the bulls are wrong!
Broken clock thread. I will look forward to the next one in about 12 months. Lucif got this one quite right.
I'm one of those people you mentioned having put everything I own into BTC. Took equity out of the house, sold a whole range of electronics, even furniture, and put it all in.
edit: I bought in originally at 37 but more at various points all the way to 149. To average it all I'd say my overall buy-in price was 78 originally.
I sold at $237 (on the way down from 266)
Bought at $117 (on the way up from 105)
Sold at 178 (on the way down from 194)
and now I'm prepping to buy all back in in the $70 range. It'll be 100 sometime Monday.
moral of the story: smart bulls always win, i-told-you-so bears dont earn crap. congrats
edit: I bought in originally at 37 but more at various points all the way to 149. To average it all I'd say my overall buy-in price was 78 originally.
I sold at $237 (on the way down from 266)
Bought at $117 (on the way up from 105)
Sold at 178 (on the way down from 194)
and now I'm prepping to buy all back in in the $70 range. It'll be 100 sometime Monday.
moral of the story: smart bulls always win, i-told-you-so bears dont earn crap. congrats
Post to receive my comeupance and continuing to hold for the longest time
You sound level-headed, I'll give you some kudos.
I bought on-average way over $20 but made money and coins and goods on the way and am still holding.
The price right now is almost exactly my averaged entry price.
Like others have said: it's the "crash to zero!111" crowd I couldn't listen to.
Or others simply WISHING a crash because they were way too unadventurous.
But why do we have be defined as bullish or bearish, I guess I was and still am both of those things albeit in slightly varying fractions?
Confession: part of me is very relieved at what happened and how it wasn't as worse as it could have been.
We could still see a long tail-off like the 2011 decline but there's plenty of time to exit gracefully in that case.
But things are quicker now. No time to think!
I bought on-average way over $20 but made money and coins and goods on the way and am still holding.
The price right now is almost exactly my averaged entry price.
Like others have said: it's the "crash to zero!111" crowd I couldn't listen to.
Or others simply WISHING a crash because they were way too unadventurous.
But why do we have be defined as bullish or bearish, I guess I was and still am both of those things albeit in slightly varying fractions?
Confession: part of me is very relieved at what happened and how it wasn't as worse as it could have been.
We could still see a long tail-off like the 2011 decline but there's plenty of time to exit gracefully in that case.
But things are quicker now. No time to think!
When my next paycheck clears I'll make my normal buy. DCA for the win. If it doesn't stay up long I'm unlikely to buy much at those prices.
Anyone noting the frenzy buying and pumping at gox, orders just fill up at any price just so it move higher and higher, I smell price manipulation.
Meh, I was happy to concede that things were looking bubbly but many of the bears were calling for an imminent collapse all the way up from single digits and have been wrong more often than they've been right.
Though to be fair, taking out student loans to buy bitcoins is just
Though to be fair, taking out student loans to buy bitcoins is just
... during the first bubble, the prices were not sustainable because the irrational bulls converted all of their fiat to btc and there reached a point where the influx suddenly stopped. this caused a panic and a huge correction, which left many, many bag-holders in its wake.
this time around, the influx of new buyers isn't slowing. people with little to no exposure of bitcoin are rushing to buy simply because the price has been going up, up, up. it's the same psychology, except the scale is much larger and the price is much higher for many more coins. smart money pulls its asks because it sees that the fundamentals are different this time around, and there won't be a huge crash. selloffs are immediately absorbed by new buyers who don't understand the risk of purchasing an asset whose price has made 500% gains in the last year.
[this] ... will inevitably lead to massive profit-taking, predatory speculation, and price volatility.
this time around, the influx of new buyers isn't slowing. people with little to no exposure of bitcoin are rushing to buy simply because the price has been going up, up, up. it's the same psychology, except the scale is much larger and the price is much higher for many more coins. smart money pulls its asks because it sees that the fundamentals are different this time around, and there won't be a huge crash. selloffs are immediately absorbed by new buyers who don't understand the risk of purchasing an asset whose price has made 500% gains in the last year.
[this] ... will inevitably lead to massive profit-taking, predatory speculation, and price volatility.
i could tell that the sentiment was dangerously optimistic way back in February, but in this game of musical chairs everyone was willing to wait a lot longer before the music stopped.
i was told i was a filthy keynesian who hated deflation. (in so many words)
Economy / Speculation / Re: Just woke up and BTC is OVER $134!!?? on: April 03, 2013, 09:47:14 AM
"We hit the irrational exhuberence stage. Good time to cash in profits and wait for a lower price."
I was a bit early on my call, but still, it's only 10 days ago when I stated we hit the irrational exhuberance stage. People had another six days to ride the wave and cash out.
"We hit the irrational exhuberence stage. Good time to cash in profits and wait for a lower price."
I was a bit early on my call, but still, it's only 10 days ago when I stated we hit the irrational exhuberance stage. People had another six days to ride the wave and cash out.
I dont understand. BTC is a unit. To be BEARish or BULLish can only be determined when you assign a relative value to a fiat currency.
BTC is an independent thing that has a purpose. Is anyone bullish or bearish on oxycontin? For some that 30mg pill is worth the $20 co-pay for 30 of em. For others, theyll pay $300 for the same 30 (I assume thats the rate). Oxy serves a purpose and depending on how badly you need that purpose fulfilled dictates the value you attach to it.
BTC serves a purpose too, namely (imho) anonymous (for legal/ethical/taxation purposes), quick and non-reversible payments. Now if you dont need that purpose fulfilled then yeah, be bearish. If you like the purpose of BTC, be bullish.
As I posted in a newbie post, for me BTC represents a sort of "Cayman Island" for the common man. Think Bit Romney. Earn / Spend BTC for whatever purpose, legit, or not, and be free from the scrutiny of taxation or big governments eye. Christ, its practically paypal (but quicker, non-reversable and anonymous). Itll get mass adoption in time.
BTC is an independent thing that has a purpose. Is anyone bullish or bearish on oxycontin? For some that 30mg pill is worth the $20 co-pay for 30 of em. For others, theyll pay $300 for the same 30 (I assume thats the rate). Oxy serves a purpose and depending on how badly you need that purpose fulfilled dictates the value you attach to it.
BTC serves a purpose too, namely (imho) anonymous (for legal/ethical/taxation purposes), quick and non-reversible payments. Now if you dont need that purpose fulfilled then yeah, be bearish. If you like the purpose of BTC, be bullish.
As I posted in a newbie post, for me BTC represents a sort of "Cayman Island" for the common man. Think Bit Romney. Earn / Spend BTC for whatever purpose, legit, or not, and be free from the scrutiny of taxation or big governments eye. Christ, its practically paypal (but quicker, non-reversable and anonymous). Itll get mass adoption in time.
Being bearish or bullish is about how you feel about the current price and if it is over or under valued. If I was a drug dealer selling Oxycontin hell yes I'd be bullish or bearish. Since I am not I am dealing in commodities, stocks, options and Bitcoins. Based on their value in my native currency USD I have a bear/bull stance on each of them.
BTW, anyone look at blockchianed recently. Over 100,000BTCs have appeared on the order book in the last 48hrs. Gee, who knew there were that many bitcoins out there. The bid walls just looked so darn big compared to the little tiny supply. $10m is nothing. $16m is not enough to support all the bitcoins in the hands of EAs and everyone else who will dump when things look scary. There are enough bitcoins in the hands of capable and willing people that if things look really bad, they can take us all the way back to the starting point, and I mean sub dollar prices. And look what it takes given the weakness of the infrastructure built around bitcoin -- a DDoS attack.
I'm here, I'm here!
I just couldn't believe that people we attacking those who saying simply unsustainable, never mind calling it a bubble.
I sold coins all the way up from $140, the last going at $250 knowing what was happening was clearly insane. I'd only wish I'd trusted my instincts and sold a bit more. However there is no possibility of any downside for me at this point, so I'll just sit back and enjoy the show for a bit.
I sold coins all the way up from $140, the last going at $250 knowing what was happening was clearly insane. I'd only wish I'd trusted my instincts and sold a bit more. However there is no possibility of any downside for me at this point, so I'll just sit back and enjoy the show for a bit.
I dont understand. BTC is a unit. To be BEARish or BULLish can only be determined when you assign a relative value to a fiat currency.
BTC is an independent thing that has a purpose. Is anyone bullish or bearish on oxycontin? For some that 30mg pill is worth the $20 co-pay for 30 of em. For others, theyll pay $300 for the same 30 (I assume thats the rate). Oxy serves a purpose and depending on how badly you need that purpose fulfilled dictates the value you attach to it.
BTC serves a purpose too, namely (imho) anonymous (for legal/ethical/taxation purposes), quick and non-reversible payments. Now if you dont need that purpose fulfilled then yeah, be bearish. If you like the purpose of BTC, be bullish.
As I posted in a newbie post, for me BTC represents a sort of "Cayman Island" for the common man. Think Bit Romney. Earn / Spend BTC for whatever purpose, legit, or not, and be free from the scrutiny of taxation or big governments eye. Christ, its practically paypal (but quicker, non-reversable and anonymous). Itll get mass adoption in time.
BTC is an independent thing that has a purpose. Is anyone bullish or bearish on oxycontin? For some that 30mg pill is worth the $20 co-pay for 30 of em. For others, theyll pay $300 for the same 30 (I assume thats the rate). Oxy serves a purpose and depending on how badly you need that purpose fulfilled dictates the value you attach to it.
BTC serves a purpose too, namely (imho) anonymous (for legal/ethical/taxation purposes), quick and non-reversible payments. Now if you dont need that purpose fulfilled then yeah, be bearish. If you like the purpose of BTC, be bullish.
As I posted in a newbie post, for me BTC represents a sort of "Cayman Island" for the common man. Think Bit Romney. Earn / Spend BTC for whatever purpose, legit, or not, and be free from the scrutiny of taxation or big governments eye. Christ, its practically paypal (but quicker, non-reversable and anonymous). Itll get mass adoption in time.
Yes, Wuji, I wholeheartedly agree with you that Gox sucking is helping depress this economy. On a positive note, think what it will be like if/when we get decent exchanges.
Why on earth would $40 be the new $2 if Mt. Gox can no longer stay online? I think .50 cents is the new $2, just kidding but, seriously why?
Bitcoin is more widely used now than in 2011. You cannot run any meaningful sizeable global economy with 11 million BTC at $2 a piece. Or $10 for that matter. Or $100...
You also can't reasonably use Bitcoins when the exchange with 80% of them is offline all the time. Until that situation changes I'm hibernating. Wake me up when the Mt. Gox winter is over.
Why on earth would $40 be the new $2 if Mt. Gox can no longer stay online? I think .50 cents is the new $2, just kidding but, seriously why?
Bitcoin is more widely used now than in 2011. You cannot run any meaningful sizeable global economy with 11 million BTC at $2 a piece. Or $10 for that matter. Or $100...
That's all true, but:
If humans were rational, I'd be calling $40 definitively as the "new $2" this time around. Need to scramble to get some fiat onto an exchange or prepare OTC deal if we do see <$40, for that is a serious buying opportunity...
- This is not 2011.
- While bitcoin has traded below $10 for half its history, that is analogous to pointing out that bitcoin has been below $1 for a significant part of its history, or been below one cent for a good minority of its history.
If humans were rational, I'd be calling $40 definitively as the "new $2" this time around. Need to scramble to get some fiat onto an exchange or prepare OTC deal if we do see <$40, for that is a serious buying opportunity...
Why on earth would $40 be the new $2 if Mt. Gox can no longer stay online? I think .50 cents is the new $2, just kidding but, seriously why?
I was promised Single Digits!
Patience grasshopper.
I was promised Single Digits!
Just a little longer....I dont think we are done going down yet.
That's all true, but:
If humans were rational, I'd be calling $40 definitively as the "new $2" this time around. Need to scramble to get some fiat onto an exchange or prepare OTC deal if we do see <$40, for that is a serious buying opportunity...
- This is not 2011.
- While bitcoin has traded below $10 for half its history, that is analogous to pointing out that bitcoin has been below $1 for a significant part of its history, or been below one cent for a good minority of its history.
If humans were rational, I'd be calling $40 definitively as the "new $2" this time around. Need to scramble to get some fiat onto an exchange or prepare OTC deal if we do see <$40, for that is a serious buying opportunity...
cheap coins
I was promised Single Digits!
Single digits still aren't out of the question...I expect this thing to slide downward for a while. I think the speculators and true believers will keep this thing from going to zero, though.
I'm willing to mortgage my shirt and my mother's shirts to buy at $10 (now regretting not having done so back when it was last $10) so single digits will be difficult.
would you do that still if it dropped to $10.50 today?
unfortunately for you, if the vast majority of new userbase decides to get out of the game completely, we'll go right back to where we were less than a year ago. single digits.
excuse my repetition, but remember: Bitcoin has been worth single digits or less for about half of its lifetime. Before 2013, bitcoin had only ever been worth more than $20 for two brief weeks, during a period generally known to all as an aberration.
I'm willing to mortgage my shirt and my mother's shirts to buy at $10 (now regretting not having done so back when it was last $10) so single digits will be difficult.
People were saying that about sub $100 prices 3 days ago....
Bear checking in and slowly turning bull again maybe in 2-3 more weeks. I have no idea what fair value is for BTC but, I'm afraid the speculators have not been shaken down enough yet. I'm thinking a few more bubbles are on the way before they finally lose enough Fiat to come back down to earth. That is if there isn't a never ending new supply of them. It makes me sad as a believer in Bitcoin but, it makes me happy as someone who can recognize it, accept it, and profit over and over again from it.
If you can't beat them, then join them and profit from them. ~Wuji 2013
If you can't beat them, then join them and profit from them. ~Wuji 2013
Come on in and give it up for proudhon, me, daily anarchist, and all the others that tried to warn you, we'll be watching this thing slide down with popcorn in our hands!! (maybe next time youll listen)
+me, lucif, adam
getting shouted down sucks
but bulls and bears are friends, guys, you wouldn't make money without the other Added you guys to the OP.....and you are right, we all need each other
Single digits still aren't out of the question...I expect this thing to slide downward for a while. I think the speculators and true believers will keep this thing from going to zero, though.
I'm willing to mortgage my shirt and my mother's shirts to buy at $10 (now regretting not having done so back when it was last $10) so single digits will be difficult.
$200/BTC now was a bubble but I still think less absurd than $30/BTC in 2011. Things are very different now than they were in 2011, and back then it bottomed out at $2. I'd call the bottom this time as $40 but humans are stupid and irrational creatures (otherwise they wouldn't panic sell and they would restrain manic buying too for that matter, and bubbles wouldn't grow so big) so lower isn't impossible by any means.
Long term, my opinion (and it's just that), shared with a lot on these forums it seems, is either ultra-bull or ultra-bear. Bitcoin is either worth a heckuvalot... or it's worth nada. We just don't know which yet - suspense is a killer!
Come on in and give it up for proudhon, me, daily anarchist, and all the others that tried to warn you, we'll be watching this thing slide down with popcorn in our hands!! (maybe next time youll listen)
+me, lucif, adam
getting shouted down sucks
but bulls and bears are friends, guys, you wouldn't make money without the other To be fair, I respect bears, it's only the "single digits" stuff I snigger at. The long-run bear scenario I envisage for bitcoin would be basically $0 rather than, say, $5.
Single digits still aren't out of the question...I think the price will continue to slide downward for a while. One more big screwup from Gox, or a hack or something could knock it there in one shot, though. I think the speculators and true believers will keep this thing from going to zero.
Fair enough.
To be fair, I respect bears, it's only the "single digits" stuff I snigger at. The long-run bear scenario I envisage for bitcoin would be basically $0 rather than, say, $5.
Proportionally speaking, it's probably a good thing this bubble popped before the one in 2011 did. Now, back to trying to make Bitcoinworld a better ecosystem. Who cares about the margin price if you're not buying or selling, anyway?
To be fair, I respect bears, it's only the "single digits" stuff I snigger at. The long-run bear scenario I envisage for bitcoin would be basically $0 rather than, say, $5.
Proportionally speaking, it's probably a good thing this bubble popped before the one in 2011 did. Now, back to trying to make Bitcoinworld a better ecosystem. Who cares about the margin price if you're not buying or selling, anyway?
You were right.
It's a sad state of affairs.
It's a sad state of affairs.
Line up to get your "I told you so's"
We told you this price rise was unsustainable, but the echo chamber shouted us down.
We told you that buying after the $20 mark was risky, and we shouted even louder when the price hit triple digits.... but again we were drowned out by "new paradigm" and "up, Up, UP" talk.
When we told you all to take profits while you could, you laughed it off.
The bulls even tried to convince othershills forum members to leverage debt to buy in....well, where is that easy money now? Still a smart idea to spend those student loans on bitcoin? Still glad you took out that second mortgage?
Come on in and give it up for proudhon, me, brightanarchist, arepo, lucif, adam, electric mucus, and all the others that tried to warn you...we'll be watching this thing slide down with popcorn in our hands!! (maybe next time youll listen)
We told you this price rise was unsustainable, but the echo chamber shouted us down.
We told you that buying after the $20 mark was risky, and we shouted even louder when the price hit triple digits.... but again we were drowned out by "new paradigm" and "up, Up, UP" talk.
When we told you all to take profits while you could, you laughed it off.
The bulls even tried to convince other
Come on in and give it up for proudhon, me, brightanarchist, arepo, lucif, adam, electric mucus, and all the others that tried to warn you...we'll be watching this thing slide down with popcorn in our hands!! (maybe next time youll listen)
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