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early adopters are shrewd. and this is why you're here. trying hard to establish your own stake by driving prices down to where you can pick up cheap coins.
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yada yada
What you fail to see, because you are so focused on short term price, is that chart above illustrates how approx half the bitcoin are being held. That measn you have an insane amount of investment in the ecosystem, not just in terms of cash but time and effort and fledgling businesses and a whole bunch of other stuff that all the bears just hand wave away.
It also means any plan to try and crash the market and buy all the coins is going to hit a wall. Which might be now, or it might be at $250 or $200 and it might be this week next week, next month or next year. Bitcoin has passed its tipping point though, each time we go through this cycle it gets more and more likely that ultimately post run up, there will be a trend reversal.
What cypher said about 32->2 is very true. Maybe you were around to see it, even if your account wasn't, but to see a 94% drop in an asset class that was so niche that *nobody* had heard of it, and that was pretty much solely used for black market trading, had no legal precedent, was traded on exchanges run by dudes who knew a bit of php and was awash with scams? That puts this bear market into perspective. Its a wholly expected sell off, driven primarily by classic market emotions and further fuelled by the aftermath of the massive capex investment in mining gear meaning miners are selling *everything* to try and ROI.
Those are facts. On top of that you have speculation about the motives of the various players in the market, rich smart powerful people, who know markets and know rubes and are operating free of the fetters of your typical market regulations. There is a *chance* that nothing nefarious is going on sure, but can you really say with confidence that nothing *is* going on? I can't categorically say that anything is happening but I do see (as illustrated) continued accumulation, bizarre market sell action where people are slamming big orders into the bid. Whipsaw action where a bunch of coins get dumped and then rebought. All this stuff smells fishy. You might see it differently though.
Then we have you, and all those other 'registered x/x/2014' accounts ("oh, but I lurked for ages....!") that have suddenly appeared, with what seems to be the sole goal of encouraging people to sell, jumping into any and all threads that suggest people should hold/buy and trying to discredit them. I've never seen such single mindedness in here before even from the perma-bulls (ref Edward50). There's no humanity, you never deviate from the message, you don't seem to even entertain the possibility of other outcomes.
Why are you so desperate for bitcoin to fail, why are you so desperate for everyone else to sell. Your justifications don't add up. Then finally when you encounter posts that start to reveal the bear case as being on shaky ground right about know you try and call into question the other guys sanity? Really?
You know what you might be right, the price might continue to drop all the way to zero. What if it does? You win? Win what? What is your actual point? You know bitcointalk is nothing. Its an internet message forum where people interested in a subject can discuss it. Why are you even here? Your carefully crafted persona impresses no-one but yourself, you aren't famous or important or special. You are a like a child at school that thinks there is nothing beyond the classroom walls. Wake up. Step outside. The sun will blind you.
Or just post cute horse pics. Thats funny, but the "I'm so special thing" is really boring.
Some facts:
1. Never suggested that an unregulated market is free of "manipulation." Manipulation is the very reason regulations came about.
2. I'm not "desperate for Bitcoin to fail"--I still hold some coin.
3. I never suggested that Bitcoin would go down to zero.
4. I'm laughing at cypherdoc for his paranoid delusions re. nefarious entities of which he claims I'm either one, or whose employ I am in.
5. I'm not looking for recognition or approval from you--your unjustified self-importance is just one of the reasons people troll you.
6. It's no longer sunny, but I'm still outside, thanks for caring.
Finally, I have no idea where the data for the oft-quoted chart came from. Checking the top three addys shows plenty of activity.
Care to show your work?
Tell me if I missed anything
