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Topic: Bitcoin will never reach $20 again - page 10. (Read 40339 times)

legendary
Activity: 1400
Merit: 1005
January 25, 2013, 04:31:51 PM
The title of this thread probably won't be proven wrong by the OPs 2 year birthday.  If that ends up being the case, that's a pretty big bummer that a full 2 years after the big crash this market will not have been able to recover to 2/3rds of its all-time price high.  The reality is, unfortunately, bearing out that the rest of the world doesn't exactly think this project is as cool as most people around here do and I think that says something unsettling about bitcoin's future.  Sure, it's something that the market cap has made it to those levels, but that's mostly because of inflation and people just holding their coins and not added economic activity or more investor money.

FWIW, I find myself using bitcoin more and more these days because I might as well use it and use the value I've managed to accumulate while I can.  So, I'm doing my part, but, as has been the case pretty much since the big crash and all the hacks, I'm still not feeling very confident about bitcoin's future.  Still fun though.
And... the bear is back!  Can't help but to see a dismal outlook despite the many indicators of strong growth.
legendary
Activity: 2198
Merit: 1311
January 25, 2013, 04:24:02 PM
The title of this thread probably won't be proven wrong by the OPs 2 year birthday.  If that ends up being the case, that's a pretty big bummer that a full 2 years after the big crash this market will not have been able to recover to 2/3rds of its all-time price high.  The reality is, unfortunately, bearing out that the rest of the world doesn't exactly think this project is as cool as most people around here do and I think that says something unsettling about bitcoin's future.  Sure, it's something that the market cap has made it to those levels, but that's mostly because of inflation and people just holding their coins and not added economic activity or more investor money.

FWIW, I find myself using bitcoin more and more these days because I might as well use it and use the value I've managed to accumulate while I can.  So, I'm doing my part, but, as has been the case pretty much since the big crash and all the hacks, I'm still not feeling very confident about bitcoin's future.  Still fun though.
donator
Activity: 1736
Merit: 1014
Let's talk governance, lipstick, and pigs.
January 25, 2013, 03:44:28 PM
Keep in mind the time of this original post was right after the huge crash in 2011 where everyone was saying Bitcoin was done for. It echoes the sentiment of the time.

The only people who thought bitcoin was done for, were those only in it for the profit and not informed enough to understand bitcoin's significance.

The price of bitcoins does not matter for bitcoin the protocol.



I remember those "dark months" after the bubble, where nearly everyone on the forum was spouting the most negative crap. I think people who didn't understand this thing lost a lot of money, and wanted to make the community feel bad about it.

Those of us who stuck through it were the ones who took their profit.  From weak hands to strong. This capital is too important to be in the hands of those who don't understand the potential of this system.

I initially bought in at $14 after the high (i didn't understand the idea of correction at that point, but from the start I understood the fundamental idea of Bitcoin and stayed with it) - I sold out at about $7 due to cowardice, but I still believed and waited for some positive signs and bought back in more substantially at around $3.
I suspect every newbie goes through this at the price point they first buy into  - belief, hope, despair, hope, belief.
Bitcoin is a baptism of fire.
At least we've put the despair part behind us.
hero member
Activity: 955
Merit: 1002
January 25, 2013, 01:25:04 PM
Keep in mind the time of this original post was right after the huge crash in 2011 where everyone was saying Bitcoin was done for. It echoes the sentiment of the time.

The only people who thought bitcoin was done for, were those only in it for the profit and not informed enough to understand bitcoin's significance.

The price of bitcoins does not matter for bitcoin the protocol.



I remember those "dark months" after the bubble, where nearly everyone on the forum was spouting the most negative crap. I think people who didn't understand this thing lost a lot of money, and wanted to make the community feel bad about it.

Those of us who stuck through it were the ones who took their profit.  From weak hands to strong. This capital is too important to be in the hands of those who don't understand the potential of this system.

I initially bought in at $14 after the high (i didn't understand the idea of correction at that point, but from the start I understood the fundamental idea of Bitcoin and stayed with it) - I sold out at about $7 due to cowardice, but I still believed and waited for some positive signs and bought back in more substantially at around $3.
I suspect every newbie goes through this at the price point they first buy into  - belief, hope, despair, hope, belief.
Bitcoin is a baptism of fire.
legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
January 25, 2013, 01:08:04 PM
Remember when every other thread was about bitcoins imminent demise? My fav was the one predicting sub-0 prices.
legendary
Activity: 1008
Merit: 1023
Democracy is the original 51% attack
January 25, 2013, 12:59:46 PM
Keep in mind the time of this original post was right after the huge crash in 2011 where everyone was saying Bitcoin was done for. It echoes the sentiment of the time.

The only people who thought bitcoin was done for, were those only in it for the profit and not informed enough to understand bitcoin's significance.

The price of bitcoins does not matter for bitcoin the protocol.



I remember those "dark months" after the bubble, where nearly everyone on the forum was spouting the most negative crap. I think people who didn't understand this thing lost a lot of money, and wanted to make the community feel bad about it.

Those of us who stuck through it were the ones who took their profit.  From weak hands to strong. This capital is too important to be in the hands of those who don't understand the potential of this system.
legendary
Activity: 1708
Merit: 1006
January 25, 2013, 11:01:05 AM
Keep in mind the time of this original post was right after the huge crash in 2011 where everyone was saying Bitcoin was done for. It echoes the sentiment of the time.

The only people who thought bitcoin was done for, were those only in it for the profit and not informed enough to understand bitcoin's significance.

The price of bitcoins does not matter for bitcoin the protocol.

legendary
Activity: 1792
Merit: 1111
January 25, 2013, 09:50:49 AM
This poor guy has missed the greatest opportunity that one may not encounter in the whole life
legendary
Activity: 4592
Merit: 1851
Linux since 1997 RedHat 4
January 25, 2013, 09:48:23 AM
Keep in mind the time of this original post was right after the huge crash in 2011 where everyone was saying Bitcoin was done for. It echoes the sentiment of the time.
Or, instead of making up excuses for the OP, check the reality of what he said ... (in reply to my post in the post after)
https://bitcointalksearch.org/topic/m.415431

Edit: and these two comparatively interesting posts Smiley
 https://bitcointalksearch.org/topic/m.580099
and
 https://bitcointalksearch.org/topic/m.1101237
full member
Activity: 144
Merit: 101
January 25, 2013, 09:33:30 AM
Keep in mind the time of this original post was right after the huge crash in 2011 where everyone was saying Bitcoin was done for. It echoes the sentiment of the time.
vip
Activity: 571
Merit: 504
I still <3 u Satoshi
January 25, 2013, 02:40:10 AM
19.20 is the new 7.20

Plan accordingly Cheesy
hero member
Activity: 784
Merit: 1000
January 25, 2013, 02:33:13 AM
There are always people more impatient than me....
legendary
Activity: 4592
Merit: 1851
Linux since 1997 RedHat 4
January 25, 2013, 01:59:15 AM
So ... anyway ... closest it's been yet was in the last 24 hours Smiley
Gox Last: $16.34857 High: $19.18999 Low: $15.38613
full member
Activity: 129
Merit: 100
August 15, 2012, 02:00:36 PM
Bubbles never slow down, do they?  If it took a month for the price to go $5 -> $12, then it should hit $20 in under a month.  I'm looking forward to it, I spent $100 on bitcoins when they were at $20 in the last bubble.  I was actually trying to buy at $10, but with the Dwolla and MtGox transfer time it had already hit $20.

And you never sold them to buy back lower when price was heading south so fast? That is impressive.  Shocked

Yeah, Mt. Gox was hacked soon after, and I couldn't access the account for a month.  Gives me  hope that Intersango will make it, if they hire some people and change management.  I didn't need to $25 so bad, figured there would be another bubble eventually.  I've got a sell order of 2.5 BTC @ $40 each, if we are in another bubble I'll break even and have some coins left over Smiley

You're right, it took more than a month... I'd been checking the price every couple days on http://bitcoincharts.com/charts/mtgoxUSD/accumulated_orderbook.png didn't realize how much time has passed!
legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
August 15, 2012, 12:37:25 PM
so much for the grandiose title of  "BTC Economist"
lol, no worse than a wall street economist. They think rallies never end.
legendary
Activity: 1050
Merit: 1000
August 15, 2012, 12:35:16 PM
so much for the grandiose title of  "BTC Economist"
donator
Activity: 2058
Merit: 1007
Poor impulse control.
August 15, 2012, 10:01:24 AM
... If it took a month for the price to go $5 -> $12, ...

It took 3 months to go from $5 USD to $12 USD.
full member
Activity: 215
Merit: 100
August 15, 2012, 09:42:54 AM
Bubbles never slow down, do they?  If it took a month for the price to go $5 -> $12, then it should hit $20 in under a month.  I'm looking forward to it, I spent $100 on bitcoins when they were at $20 in the last bubble.  I was actually trying to buy at $10, but with the Dwolla and MtGox transfer time it had already hit $20.

And you never sold them to buy back lower when price was heading south so fast? That is impressive.  Shocked
full member
Activity: 129
Merit: 100
August 15, 2012, 09:18:51 AM
Bubbles never slow down, do they?  If it took a month for the price to go $5 -> $12, then it should hit $20 in under a month.  I'm looking forward to it, I spent $100 on bitcoins when they were at $20 in the last bubble.  I was actually trying to buy at $10, but with the Dwolla and MtGox transfer time it had already hit $20.
legendary
Activity: 1193
Merit: 1003
9.9.2012: I predict that single digits... <- FAIL
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