Greed makes the world go round - page 3.

Crazy

full member

Activity: 182

Merit: 106

Quote from: noedaRDH on April 09, 2013, 03:16:27 PM

Without greed, no one would have invested any time or money into Bitcoins a few years ago.

Unless they believed they were doing something worthwhile. An intellectual exercise. That's not greed.

Quote from: noedaRDH on April 09, 2013, 03:16:27 PM

You need to appeal to people's instinctive greediness on some level to get just about any project off the ground.

So you start all your projects based on greed? That's pretty depressing. You must not do much for fun.

Quote from: noedaRDH on April 09, 2013, 03:16:27 PM

I don't really see greed as a problem to Bitcoins. It's a necessary kickstarter to build its infrastructure.

If BTCs were worth zero, then why should anyone care to trade them or mine them?

So yeah, greed does make the world go around.

Depressing.

noedaRDH

full member

Activity: 182

Merit: 100

Finding Satoshi

Without greed, no one would have invested any time or money into Bitcoins a few years ago.

You need to appeal to people's instinctive greediness on some level to get just about any project off the ground.

I don't really see greed as a problem to Bitcoins. It's a necessary kickstarter to build its infrastructure.

If BTCs were worth zero, then why should anyone care to trade them or mine them?

So yeah, greed does make the world go around.

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

Forget greed. If anyone was lucky enough to get rich quick off of bitcoin holdings, good for them.

Think positively. Bitcoin is revolutionary, we know that. Back to the BTC-fiat exchange markets, all outcomes should be viewed positively from here.

Price keeps climbing and flies to the moon: nuff said already. Bitcoin holders are empowered with new-found wealth, which hopefully at least some of us will use to reinvest into the bitcoin ecosystem and not just swan around on yachts off the coast of Monaco.

Price stabilizes/plateaus for a while: bitcoin will look more viable as a transactional currency, and merchants in particular will appreciate the stability. Meanwhile, bitcoin remains a strong inflation-proof store of value.
Price falls, beginning a moderate bear market: the healthy "correction" will help take the air out of a possible calamitous megabubble, and we can rebuild from that. Some will appreciate the cheaper BTC they can purchase with fiat.
Price crashes back to <<$100: assuming no failure in Bitcoin protocol, see this as an amazing (third?) opportunity to pick up bitcoin at "extreme fire sale" (read unbelievably cheap, considering the long-term prospects) prices. Bring it on!

piramida

legendary

Activity: 1176

Merit: 1010

Borsche

Quote from: flyhouse on April 09, 2013, 03:01:01 PM

I don't hold BTC, I have investments in other places. I want to see BTC become something stable before I buy into it. I'm not bearish, I am a realist.

There have been no other investment even remotely close to bitcoin in the last four years. So I guess that makes you a bad investor, sorry

flyhouse

newbie

Activity: 59

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Quote from: wopwop on April 09, 2013, 02:58:07 PM

Quote from: flyhouse on April 09, 2013, 02:57:13 PM

Quote from: scarce on April 09, 2013, 02:52:22 PM

Quote from: flyhouse on April 09, 2013, 02:19:06 PM

As I have seen on many other markets, greed is the driving factor behind every bubble.
When will some people here see that it's their greed telling them that BTC will hit $1K by next week/month/year?

BTC is different from other markets in many ways, but it IS after all a MARKET- buy and sell.
I think that after greed and burst bubbles, comes the fundamentals and the real development of BTC. Does anyone agree with me?

Normally, I would have to agree. It's definitely greed (or let's say belief in making a good investment decision) that people do say that BTC will surely hit $1,000 and preferably as soon as possible. But in the case of bitcoin, this really can happen independently from what people say or not. And I believe there are some people that do say it purely because of fundamentals+intuition (and intuition, even though is highly irrational, is proven to be very important for every successful investor).

So normally, I would have to agree, but in bitcoin discussion, imho it has no sense to point it out really.

Bitcoin will surely hit that price, even much higher. But that will happen gradually and with time, not tomorrow.

you know, just because other people were bearish and the price went up, doesnt mean you have to pretend to be bearish and then secretly hope it goes up too

I don't hold BTC, I have investments in other places. I want to see BTC become something stable before I buy into it. I'm not bearish, I am a realist.

wopwop

sr. member

Activity: 252

Merit: 250

Quote from: flyhouse on April 09, 2013, 02:57:13 PM

Quote from: scarce on April 09, 2013, 02:52:22 PM

Quote from: flyhouse on April 09, 2013, 02:19:06 PM

As I have seen on many other markets, greed is the driving factor behind every bubble.
When will some people here see that it's their greed telling them that BTC will hit $1K by next week/month/year?

BTC is different from other markets in many ways, but it IS after all a MARKET- buy and sell.
I think that after greed and burst bubbles, comes the fundamentals and the real development of BTC. Does anyone agree with me?

Normally, I would have to agree. It's definitely greed (or let's say belief in making a good investment decision) that people do say that BTC will surely hit $1,000 and preferably as soon as possible. But in the case of bitcoin, this really can happen independently from what people say or not. And I believe there are some people that do say it purely because of fundamentals+intuition (and intuition, even though is highly irrational, is proven to be very important for every successful investor).

So normally, I would have to agree, but in bitcoin discussion, imho it has no sense to point it out really.

Bitcoin will surely hit that price, even much higher. But that will happen gradually and with time, not tomorrow.

you know, just because other people were bearish and the price went up, doesnt mean you have to pretend to be bearish and then secretly hope it goes up too

flyhouse

newbie

Activity: 59

Merit: 0

Quote from: scarce on April 09, 2013, 02:52:22 PM

Quote from: flyhouse on April 09, 2013, 02:19:06 PM

As I have seen on many other markets, greed is the driving factor behind every bubble.
When will some people here see that it's their greed telling them that BTC will hit $1K by next week/month/year?

BTC is different from other markets in many ways, but it IS after all a MARKET- buy and sell.
I think that after greed and burst bubbles, comes the fundamentals and the real development of BTC. Does anyone agree with me?

Normally, I would have to agree. It's definitely greed (or let's say belief in making a good investment decision) that people do say that BTC will surely hit $1,000 and preferably as soon as possible. But in the case of bitcoin, this really can happen independently from what people say or not. And I believe there are some people that do say it purely because of fundamentals+intuition (and intuition, even though is highly irrational, is proven to be very important for every successful investor).

So normally, I would have to agree, but in bitcoin discussion, imho it has no sense to point it out really.

Bitcoin will surely hit that price, even much higher. But that will happen gradually and with time, not tomorrow.

wopwop

sr. member

Activity: 252

Merit: 250

Quote from: Zendata on April 09, 2013, 02:56:13 PM

This whole thing could be setting the stage of establishing a safe and average value of BTC. Once that is established (predictably anyway). I think trade will become more prominent.... in satoshi's anyway.

Zendata

newbie

Activity: 42

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This whole thing could be setting the stage of establishing a safe and average value of BTC. Once that is established (predictably anyway). I think trade will become more prominent.... in satoshi's anyway.

Gordonium

sr. member

Activity: 392

Merit: 250

You mark my words, greed, for lack of a better word, is good.

scarce

newbie

Activity: 29

Merit: 0

Quote from: flyhouse on April 09, 2013, 02:19:06 PM

As I have seen on many other markets, greed is the driving factor behind every bubble.
When will some people here see that it's their greed telling them that BTC will hit $1K by next week/month/year?

BTC is different from other markets in many ways, but it IS after all a MARKET- buy and sell.
I think that after greed and burst bubbles, comes the fundamentals and the real development of BTC. Does anyone agree with me?

Normally, I would have to agree. It's definitely greed (or let's say belief in making a good investment decision) that people do say that BTC will surely hit $1,000 and preferably as soon as possible. But in the case of bitcoin, this really can happen independently from what people say or not. And I believe there are some people that do say it purely because of fundamentals+intuition (and intuition, even though is highly irrational, is proven to be very important for every successful investor).

So normally, I would have to agree, but in bitcoin discussion, imho it has no sense to point it out really.

randrace

sr. member

Activity: 329

Merit: 250

LTC -> BTC -> Silver!

Nah, we're spending them now.

flyhouse

newbie

Activity: 59

Merit: 0

Quote from: randrace on April 09, 2013, 02:41:22 PM

Quote from: flyhouse on April 09, 2013, 02:36:17 PM

Quote from: piramida on April 09, 2013, 02:34:41 PM

Define greed. Is holding your BTC because you believe it has much more potential greed? I call cashing out an action of greed, where you want to take your fiat money afraid that bitcoin will lose value. That's the true greed.

Greed is buying and selling speculatively, waiting for the price to go further. And since more of the traders are doing it with this in mind, it goes up. When their cash dries out, what do we do?

Spend them on goods and services!

That's exactly my point. But it can only happen in a stable market.

flyhouse

newbie

Activity: 59

Merit: 0

Quote from: Mike Christ on April 09, 2013, 02:41:41 PM

Quote from: flyhouse on April 09, 2013, 02:40:02 PM

Quote from: Mike Christ on April 09, 2013, 02:38:56 PM

Aww, I'm not greedy. I just want enough money to live off of for the rest of my life, that's all.

I hear this magical number is supposed to be around a million. ONE MILLION DOLLARS HERE I COME YEEHAW

Same as what the greeks wanted. Now they be working and sheit Grin

Greeks didn't have Bitcoin Wink

Yeah, they had Goldman Sachs to help them Cool

Mike Christ

legendary

Activity: 1078

Merit: 1003

Quote from: flyhouse on April 09, 2013, 02:40:02 PM

Quote from: Mike Christ on April 09, 2013, 02:38:56 PM

Aww, I'm not greedy. I just want enough money to live off of for the rest of my life, that's all.

I hear this magical number is supposed to be around a million. ONE MILLION DOLLARS HERE I COME YEEHAW

Same as what the greeks wanted. Now they be working and sheit Grin

Greeks didn't have Bitcoin Wink

randrace

sr. member

Activity: 329

Merit: 250

LTC -> BTC -> Silver!

Quote from: flyhouse on April 09, 2013, 02:36:17 PM

Quote from: piramida on April 09, 2013, 02:34:41 PM

Define greed. Is holding your BTC because you believe it has much more potential greed? I call cashing out an action of greed, where you want to take your fiat money afraid that bitcoin will lose value. That's the true greed.

Greed is buying and selling speculatively, waiting for the price to go further. And since more of the traders are doing it with this in mind, it goes up. When their cash dries out, what do we do?

Spend them on goods and services!

XXthetimeisnowXX

sr. member

Activity: 252

Merit: 250

a wolf in sheeps clothing. suckerfish

Quote from: BTC Books on April 09, 2013, 02:25:16 PM

Tough call, from even the slightest conventional point of view.

The bitcoin market is a market like any other - yes.

But bitcoin itself is a new thing.

I think nobody knows. We're flying on guts here - you got 'em or you don't...

ill second that

flyhouse

newbie

Activity: 59

Merit: 0

Quote from: Mike Christ on April 09, 2013, 02:38:56 PM

Aww, I'm not greedy. I just want enough money to live off of for the rest of my life, that's all.

I hear this magical number is supposed to be around a million. ONE MILLION DOLLARS HERE I COME YEEHAW

Same as what the greeks wanted. Now they be working and sheit Grin

Mike Christ

legendary

Activity: 1078

Merit: 1003

Aww, I'm not greedy. I just want enough money to live off of for the rest of my life, that's all.

I hear this magical number is supposed to be around a million. ONE MILLION DOLLARS HERE I COME YEEHAW

wopwop

sr. member

Activity: 252

Merit: 250

Quote from: flyhouse on April 09, 2013, 02:36:17 PM

Quote from: piramida on April 09, 2013, 02:34:41 PM

Define greed. Is holding your BTC because you believe it has much more potential greed? I call cashing out an action of greed, where you want to take your fiat money afraid that bitcoin will lose value. That's the true greed.

Greed is buying and selling speculatively, waiting for the price to go further. And since more of the traders are doing it with this in mind, it goes up. When their cash dries out, what do we do?

We sheit our pants

Topic: Greed makes the world go round - page 3. (Read 3914 times)