Topic: Bears, it's over. (Read 3484 times)
Just some food for thought - over the last three years, *every* major bitcoin correction was to a level slightly above previous high. Can't be certain of course, but it does look like the next correction would be down to 33$ or something.
Well even IF BTC goes to the moon there likely will be multiple large corrections. Still that does little good if someone is waiting for $1 USD:BTC and even with the next correction it doesn't go below $11. 
Very true with regard to relative price change - but I will be quite surprised if we don't see sub $10USD btc at some time within the next 6 months. And for the record - no I'm not waiting on $1 btc - though I wouldn't be to upset to see it ;-)
Prepare to be surprised. I would love the opportunity to buy at $10 again.
Well even IF BTC goes to the moon there likely will be multiple large corrections. Still that does little good if someone is waiting for $1 USD:BTC and even with the next correction it doesn't go below $11.
Very true with regard to relative price change - but I will be quite surprised if we don't see sub $10USD btc at some time within the next 6 months. And for the record - no I'm not waiting on $1 btc - though I wouldn't be to upset to see it ;-)
Unless btc is really going 'to the moon,' it's pretty much guaranteed that there will be another 50% correction given an unlimited time horizon. Hence, it's NEVER over for a true bear - I do have to admit to feeling rather frustrated my entry price seems an awfully long way away at this point tho.
Well even IF BTC goes to the moon there likely will be multiple large corrections. Still that does little good if someone is waiting for $1 USD:BTC and even with the next correction it doesn't go below $11.
Unless btc is really going 'to the moon,' it's pretty much guaranteed that there will be another 50% correction given an unlimited time horizon. Hence, it's NEVER over for a true bear - I do have to admit to feeling rather frustrated my entry price seems an awfully long way away at this point tho.
50% of what? Half the most recent gain? Half the recent rate of growth? Half the overall value? Even the corrections themselves can be subject to halving with diminishing returns on speculation.
Unless btc is really going 'to the moon,' it's pretty much guaranteed that there will be another 50% correction given an unlimited time horizon. Hence, it's NEVER over for a true bear - I do have to admit to feeling rather frustrated my entry price seems an awfully long way away at this point tho.
The bubble needs to rise faster to pop. That drop last week let some of the air out. I'm just disappointed I won't win the free 10 bitcoins.
This is just your single opinion. Tell that to the average joe who only knows how to check his email and nothing more.
I think you give the average joe too much credit!
Enjoy your bubble until it bursts. I'll be waiting. Got plenty of time.
Enjoy your bubble until it bursts. I'll be waiting. Got plenty of time.
Got any coins left to sell?
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Got any coins left to sell?
Enjoy your bubble until it bursts. I'll be waiting. Got plenty of time.
With Bitcoin going up so high and such low trading volume, it looks like someone is buying. Is there a whale quietly buying Bitcoin?
I would say low volume + higher prices = few people willing to sell at current prices.
With Bitcoin going up so high and such low trading volume, it looks like someone is buying. Is there a whale quietly buying Bitcoin?
Bernanke have an invalid address!
Yeah bears, it's over. Even Ben Bernanke gave up:
You decide:
Bears have a lifespan of 15 to more than 30 years in the wild.
Bulls can live to 10 to 14 years of age, but most are culled or slaughtered for beef when they're around 5 to 6 years old.
Bears have a lifespan of 15 to more than 30 years in the wild.
Bulls can live to 10 to 14 years of age, but most are culled or slaughtered for beef when they're around 5 to 6 years old.
Easily $10k per BTC. 
Actually very likely but the road to 10000 USD per 1 BTC will wind through bear country with many healthy and hungry bears along the way. If one believes even for a single moment that all the bears are dead, then it becomes almost certain that one gets eaten by a bear along the way.
Easily $10k per BTC.
Actually very likely but the road to 10000 USD per 1 BTC will wind through bear country with many healthy and hungry bears along the way. If one believes even for a single moment that all the bears are dead, then it becomes almost certain that one gets eaten by a bear along the way.
As long as the gambling industry keeps growing, poker especially, the bears wont stand a chance. Gamblers are nuts and will learn how to get their hands on bitcoins to play their little poker game. :p
Easily $10k per BTC.
Actually very likely but the road to 10000 USD per 1 BTC will wind through bear country with many healthy and hungry bears along the way. If one believes even for a single moment that all the bears are dead, then it becomes almost certain that one gets eaten by a bear along the way.
Bulls, I would just like to remind you that the Cnet article "A guide to the future of currency" coincided with the 2011 bubble peak. 
Cnet and Bloomberg have very different demographics
Yes, but where is your argument?
Bulls, I would just like to remind you that the Cnet article "A guide to the future of currency" coincided with the 2011 bubble peak.
That is why price is still hovering around $18. When Bitcoin becomes so simple that average joe is able use just like credit card, we will be seeing price a lot higher than this.
Easily $10k per BTC.
Bitcoin is not more difficult to use than banks or credit cards. Converting between bitcoin and fiat is another matter entirely.
This is just your single opinion. Tell that to the average joe who only knows how to check his email and nothing more.
Bitcoin needs to reach Mr. Average Joe in order to go mainstream and completely viral.
Of course it's only my opinion, but I've seen how banks and CC issuers operate, and their requirements and procedures are, partly as a result of government regulation, far more involved than installing a BTC wallet.
The 'average joe' seems to know, even if only a little, how to bank online and how to log into social media on mobile devices. Or am I missing something obvious? I agree that Bitcoin isn't dummy-level stuff, though, but nor does it require Einsteinian intelligence or a PhD.
In case you missed my point:
The average joe knows how to use a credit card and how to go to the bank to get money (i.e atm). Bitcoin isn't that simple...yet. So yes it is more difficult to use than the current way people are used to banking.
That is why price is still hovering around $18. When Bitcoin becomes so simple that average joe is able use just like credit card, we will be seeing price a lot higher than this.
In case you missed my point:
The average joe knows how to use a credit card and how to go to the bank to get money (i.e atm). Bitcoin isn't that simple...yet. So yes it is more difficult to use than the current way people are used to banking.
The average joe knows how to use a credit card and how to go to the bank to get money (i.e atm). Bitcoin isn't that simple...yet. So yes it is more difficult to use than the current way people are used to banking.
If we include the conversion of fiat to BTC as part of the Bitcoin process, then yes, I agree with you.
Bitcoin is not more difficult to use than banks or credit cards. Converting between bitcoin and fiat is another matter entirely.
This is just your single opinion. Tell that to the average joe who only knows how to check his email and nothing more.
Bitcoin needs to reach Mr. Average Joe in order to go mainstream and completely viral.
Of course it's only my opinion, but I've seen how banks and CC issuers operate, and their requirements and procedures are, partly as a result of government regulation, far more involved than installing a BTC wallet.
The 'average joe' seems to know, even if only a little, how to bank online and how to log into social media on mobile devices. Or am I missing something obvious? I agree that Bitcoin isn't dummy-level stuff, though, but nor does it require Einsteinian intelligence or a PhD.
In case you missed my point:
The average joe knows how to use a credit card and how to go to the bank to get money (i.e atm). Bitcoin isn't that simple...yet. So yes it is more difficult to use than the current way people are used to banking.
Bitcoin is not more difficult to use than banks or credit cards. Converting between bitcoin and fiat is another matter entirely.
This is just your single opinion. Tell that to the average joe who only knows how to check his email and nothing more.
Bitcoin needs to reach Mr. Average Joe in order to go mainstream and completely viral.
Of course it's only my opinion, but I've seen how banks and CC issuers operate, and their requirements and procedures are, partly as a result of government regulation, far more involved than installing a BTC wallet.
The 'average joe' seems to know, even if only a little, how to bank online and how to log into social media on mobile devices. Or am I missing something obvious? I agree that Bitcoin isn't dummy-level stuff, though, but nor does it require Einsteinian intelligence or a PhD.
Bitcoin is not more difficult to use than banks or credit cards. Converting between bitcoin and fiat is another matter entirely.
This is just your single opinion. Tell that to the average joe who only knows how to check his email and nothing more.
Bitcoin needs to reach Mr. Average Joe in order to go mainstream and completely viral.
In other words facebook needs to integrate it for some reason :-)
Bitcoin is not more difficult to use than banks or credit cards. Converting between bitcoin and fiat is another matter entirely.
This is just your single opinion. Tell that to the average joe who only knows how to check his email and nothing more.
Bitcoin needs to reach Mr. Average Joe in order to go mainstream and completely viral.
That is why I called it correction earlier.
Bitcoin is not more difficult to use than banks or credit cards. Converting between bitcoin and fiat is another matter entirely.
Yes, the CB's are doomed and Bitcoin will rise like a Phoenix.
Let's not be hasty. I think Bitcoin is on the way up, but no matter the usefulness of bitcoins, government-issued currency can do certain useful things bitcoins can't. Legally unambiguous settlement of debt or tax obligations, for example.Also, doesn't "rising like a phoenix" imply that Bitcoin will have to die first?
$32-->$1.98 was it's death, albeit premature.
Hard to call it a death, really, when it was still over 100% higher at that lowest point than it had been at the start of the year
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Pyramid game, payment system for illicit goods, swindles, massive valuation gyrations, hackable code, difficult to use, and anonymous "managers" that we are supposed to trust
Someone with no idea how Bitcoin works has a lot to say.
...
https://twitter.com/Corbenic
Just some CEO of a failing venture capital company.
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Pyramid game, payment system for illicit goods, swindles, massive valuation gyrations, hackable code, difficult to use, and anonymous "managers" that we are supposed to trust
Someone with no idea how Bitcoin works has a lot to say.
Pyramid game
Reward for work is not a pyramid. Neither is the ability to send money.
payment system for illicit goods
As are most currencies.
swindles
Again, not unique/a fault of Bitcoins.
massive valuation gyrations
This is true. But it's still around and going strong, unlike other wildly fluctuating currencies.
hackable code
One does not simply "hack", SHA256
difficult to use
Kinda true, it's less convenient than traditional payments methods.
anonymous "managers" that we are supposed to trust
NO! There are no "managers" of bitcoin. The only person who manages your BTCs is YOU. If you leave them lying around unprotected, or give them to someone who rips you off, it's your own fault.
Yes, the CB's are doomed and Bitcoin will rise like a Phoenix.
Let's not be hasty. I think Bitcoin is on the way up, but no matter the usefulness of bitcoins, government-issued currency can do certain useful things bitcoins can't. Legally unambiguous settlement of debt or tax obligations, for example.Also, doesn't "rising like a phoenix" imply that Bitcoin will have to die first?
$32-->$1.98 was it's death, albeit premature.
Yes, the CB's are doomed and Bitcoin will rise like a Phoenix.
Also, doesn't "rising like a phoenix" imply that Bitcoin will have to die first?
See the 2011 bubble and crash.
Yes, the CB's are doomed and Bitcoin will rise like a Phoenix.
Let's not be hasty. I think Bitcoin is on the way up, but no matter the usefulness of bitcoins, government-issued currency can do certain useful things bitcoins can't. Legally unambiguous settlement of debt or tax obligations, for example.Also, doesn't "rising like a phoenix" imply that Bitcoin will have to die first?
Wow, great find!
Yes, the CB's are doomed and Bitcoin will rise like a Phoenix.
Yes, the CB's are doomed and Bitcoin will rise like a Phoenix.
I'm sorry. May god have mercy on your soul.
http://www.bloomberg.com/news/2013-01-28/bitcoin-s-gains-may-fuel-central-bank-concerns-chart-of-the-day.html
http://www.bloomberg.com/news/2013-01-28/bitcoin-s-gains-may-fuel-central-bank-concerns-chart-of-the-day.html
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