Topic: Bitcoin going to zero - Karl Denninger Tickerforum.org - page 3. (Read 17988 times)

BTC is not going to zero, we just saw a manipulation made by insiders. First it broke-out $40 level and gone parabolic, their media friends gave them boost, and after that they decide enough,,, and sold everything... and made huge profits! Shame on you bast....s. Who lost? Of course the poor and uneducated one lost. Last 30 days has no meaning to keen miners. Remove the last 30 days data from the charts, really just remove the last 30 days of end of day data (EOD) from the charts and verify what is changed. N o t h i n g!

There's a better than average chance he's talking his book.

Some of the things he's said in recent posts match almost word for word how he would talk about gold and silver.

What happened there is he would loudly  trash talk them as investments in his blog but quietly mention somewhere in the middle they might be fine for trading and speculation. Then in his donator-only videos he'd mention the positions he was taking.

Calling a drop to zero and seeing a $50 double bottom is not getting it right.

I'm guessing those who lost money probably think the perma-bears are suddenly paragons of wisdom.

Well, in the past few days we've seen people very eager to spend their bitcoins on MtGox 

Bitcoin does have one huge Black Swan that no one seems to address: the hundreds of thousands of early bitcoins that have never moved.  Are they lost?  Is someone holding them and looking to dump in the future?  Who knows?  Even the most strident anti bankster Libertarian must be tempted to cash out and set up themselves and their family and friends for life.

No, actually Bitcoin offers an incentive to grab it and hold it, i.e. keep it out of circulation, and a currency that doesn't circulate isn't much of a currency at all.

Great catch! Sound, sensible hard nosed financial adviser ... "market cap bigger than $1 bill and people are willing to exchange hard assets for it? ... yep it's a currency"

O'Leary funds has how much under management?
http://www.olearyfunds.com/

So say he has foreign currency fund with NV ~ $1 bill
And he's looking at dabbling with 2%-3% of NV into BTC. Sounds like a good plan ... 2%-3%.

Thank you! 

Karl May say One thing But I'm watching O'leary
http://www.cbc.ca/player/News/Business/ID/2375415659/

Roger...but neither have stocks when you look at the manipulation of the S&P500 and DJIA (the stocks specifically added and deleted from these indexes to represent "all is right with the market") adjusted for inflation.  It has always boiled down to timing. 

Wall Street fanboys count on people forgetting about: 

1929-1949.  (20 years of nothing.)
1966-1982.  (16 years of nothing.)

And if you look at 2001 to 2013 and adjust for inflation, it makes one yawn. 

So, I guess my argument is that I view Bitcoin as an asset.  Some people love it.  Some people hate it.   It is bound to fluctuate.  The key is:  There is a real market for it.  There is a real demand for Bitcoin.  Wall Street snubs its nose at anything that they can't get their fingers into.  Give them some time...they'll figure out a way to conjure up a new crypto-currency derivative market.

So while Karl denigrates (pardon the pun) those who use Bitcoin, it just shows his usual transparent pissed-off stance when it is obvious he has missed the boat again on making some real coin.  (Pun intended.)

To finish:   I have never held anything for 30 years...usually 10 years at the most...but each of these "holding periods" have favored certain assets.  I couldn't give a hoot about 30 year cycles.  10 year cycles favor those who have their eyes open.

Nice job on the good prices that you picked those up for.  But, if you look at an inflation adjusted chart for the past 30 years, gold has done nothing.  Just throwing that out there, don't really care either way tbh.

Karl Denninger is the same guy who hates Gold (and Silver)!

http://www.zerohedge.com/article/mr-denninger-and-gold-or-why-dollar-deflationists-are-wrong

One of his most interesting quotes:

gold has never performed well on a contemporary basis .vs. inflation

This guy who berates people like me - who believe in legacy real assets - is kind of insulting. 

His opinion on Bitcoin is as valuable as his opinion on Gold. 

BTW, I was one of those "fools" who invested in gold at $324 and silver at $8.65. 

Definitely see the 10-30 bottom but what happens after is anyone's guess

I think you're right, 0.00001% chances to go to 4-5. BUT, 10-30 is very broad area for me...

I've been wrong before but I think there's a shitload of support around $4 to $5. There's probably enough loose fiat money waiting to buy every single bitcoin in existence at those prices. So, I don't really think we'll go below that unless the whole network is compromised or Bitcoin's near-universally outlawed.

Realistically, I think the bottom will be between $10 and $30.

I don't know who Karl Denninger is, but anyone who thinks BTC is going to $0 is a moron that doesn't deserve a thread in his name or discussing his opinion.

He knows because his momma made him with Nostradamus.

KD is full of himself.

Who cares what he says?

i hope he is they i can buy 100,000 btc

You mean this one?

It's because people talk about it like its stock.