Topic: Denial - page 4. (Read 7036 times)

don't forget though that every investment has a speculative component which is entirely unpredictable.  if wealthy people come to realize that they can move large amounts of fiat currency across borders via Bitcoin in the blink of an eye anonymously (if they are very careful via routing) you could see a price rise similar to gold.

Bitcoin is a brilliant technical achievement and has (so far) proven to be resilient to attacks.  I just wish a few economists were consulted during its development.  It was clear from the beginning that it wasn't a currency, as it encouraged hoarding through its deflationary model.  

There are many miners out there right now creating more bitcoins but not selling them, as to sell now would mean selling at a loss (assuming they're not power thieves, 'free' power, etc).  That will create a huge overhang of bitcoins to liquidate should the price show signs of strengthening.

Bitcoin will either stagnate (but never die, as long as one person is mining) or experience some moderate growth in the next few years.

I wonder how this guy is feeling right now:
http://falkvinge.net/2011/05/29/why-im-putting-all-my-savings-into-bitcoin/

"These past days, I have done a lot of thinking about bitcoin that ended up with me investing all of the money I had saved and all that I can borrow into the currency. "

That was in late May, when the price was still under $10.

"and all that I can borrow into the currency".  That's a mighty big hole he's dug for himself.

Maybe he's the equivalent of the shoe shine boy giving stock advice in 1929 right before the crash.  When you read madness like putting all your savings and borrowed money into highly speculative X, sell X as quickly as possible.

fixed.

http://www.downside.com/

everyone please go to this piece of sh*t and draw your own conclusions.

What wall, it's clearly another fake wall from The manipulator. 

haha

priceless 

would the Bears like Nagle and Shinobi please short into the bid wall at $2 and take it down?

On the contrary, it's significantly more susceptible to dropping in value by $1~ and halving in value overnight.

I see now that he was right all along.

I'm so happy that Bitcoinica exists so I can get back my money by shorting.  I really didn't understand that stuff about stop-loss, but it sounds like something for woosies and I don't see why it would be necessary since so many really smart people are saying that Bitcoin is dead and headed to zero.

Pretty soon I'll be riding around in my new Ferrari with a real live woman and laughing at all you looozers.

---

Update:  Please help!  They stole my money    'Migraine call' or some BS like that.  Can I get some more advice form the the wise and experienced bears who bless this forum with their insight?

Nagle has said the same warning over the past few months and now those statements are starting to bother you because you that he was right all along.

some people run bots on exchanges, some run bots on forums

If you tell a person they're ugly, long enough, eventually they'll believe it!

Some sooner than others!

When FUD is spread constantly, over time it becomes believed or accepted. Then little by little, it snowballs to what we have today!

BOT;
I'm not in denial! I have no clue what's in store for Bitcoin. I do however, make money from it, in turn making the small pile of BTC I keep essentially free to me, so I have no worries!

nowhere to go but up!

There is no safe way to short bitcoin.  Bitcoinica's fortunes are just as uncertain as MtGoX's.

Am I the only one that thinks that posting a new thread every day, re-stating their same, unchanging opinion, is obnoxious?

Nagle - clearly you know what you're talking about. So, why are you not shorting tens of thousands of bitcoins? My goodness if it falls to zero you'll be rich!

So why not?

I like reading Mr Nagle's posts - they are very one-sided.  If I made as many predictions I'm sure at least one would succeed.

I don't think it will rise like a phoenix (and you might want to check your mythology about rebirth of phoenix).

The main point is one of time-scale.  If I applied the same logic to the world financial system in 2007/08, we all would have given up a couple of years ago.  I have a longer term view, years, not weeks like most of the panicky people that love to post gloom and bonanza all over the forum.

True, I would hate it if MtGox would eat money I hold there as USD, but that would be heavy fraud. But otherwise, what's the point of your post? If I get out instead of buying, other people won't get that money for the coins. People who wanted to sell in the end, who weren't suited to take the risk from the start.

I am willing to lose money if Bitcoin fails, and I am aware there is a good chance that will happen. I see myself as a fundamental speculator and have accepted the fact that I have no exit strategy for any value held in BTC if Bitcoin dies.

Those who don't think like that should have quit a long time ago. They pay now, almost as much as I, but without the chance to make profit if Bitcoin succeeds. That's not speculation, it's burning money.

Reality is probabilistic. Live with it, you do not know for a fact that Bitcoin will die. If you disagree, I accept a 1:100 asymmetric bet in addition to my speculations here.

Hey Nagle, can I borrow your time machine? I'd like to find out who wins the world series.