Topic: Greed will catch up with you. - page 4. (Read 7281 times)

good for you, buddy

What he said.

People this year are gnashing their teeth about the people who invested in 2010/2011, and by the end of the year they'll be qq'ing about people who invested in 2012/early 2013.

I believe in btc (because I understand the fundementals a LOT and observe global social/political/economical status).

I am what I (and I expect most) would consider a poor person, but ... let's just say your female friend has worked out her maths correctly then she is a smart person

IF I could pay all my bills in btc, I would, but I can't, so I need to change some every so often back into fiat to cover such things that I can't normally cover. As more btc options become available (which they will) I will slowly move my expenses into btc.

I made another thread here - https://bitcointalksearch.org/topic/m.1760062 - I would be very interested to hear your views on this OP (and others). No one has posted there yet .. I wonder why

A few others I've talked to (that I know personally) who believe similar to you (and really have no clue about btc, global matters or what bubbles really are, not saying you don't, maybe you do, just saying these people I know don't). But they have stated to me that at £1,000 they'll stop qq'ing about "bubble bubble".

But let me say this here, the 'bubble' is fiat, and it's going to pop sooner than most realise, and when it does .. oh dear

Aptly put Mr Gecko

Nope, we will not see single digits anymore, unless bitcoin completely dies.

Greed is Good.

This topic starter is a shill and just jaleous of us making huge profits

How Can I not agree with you   

That may be true but we all know you're not the kind of weak buyer OP and me are talking about

I was punished the other day when I did some LTC trades that netted my 14BTC in 10 minutes.

Wow the market knows how to punish me with PROFITS. 

How about $2?

Whoever buys on greed will be punished suitably, it happens for any investment vehicle out there. Price may be trending upwards at a parabolic rate now, but the price changes are still cyclical and people will sell in fear as the prices come down too. Its a natural system to weed out the weak buyers who went all in. In the end the cyclical redistribution process will keep everything chugging along (I say this as a matter of opinion, though, and not fact. I do hope I am right)

While I can agree with this as well, I can also ask what defines greed?

Is it purposely buying only planning to dump?

Is it cashing out because you have to use some of the BTC bought or mined to pay bills and things in real life?

Is it just being smart to take your initial investment costs back out - or hold on and only care because said invesetment is say, 2x, 3x the price?

Perhaps a mix of these.  I don't see taking profit being a bad thing (people will do what they will do), but I suppose if you're just in it only to make money, period, then that's not what the currency is about.

It is a good side effect though and the rich had to get that way somehow.  For a change, many of us can ask realistically perhaps "Why not us this time?"

The coming weeks and months ahead will make things clear.

If by "greed" you mean coke & weed, then yes I agree with you.

Guys, when greed catches up to you just stop and sell him some bitcoins @ -10%... Works everytime.   

He catches on quick tho and starts coming back sooner and sooner.. greedy bastid!!

 

It would literally be impossible for Bitcoin to reach $1/BTC.

For all those speculating and coming out with numbers based on trends and what not..  the only reason bitcoin shot to fame was because people became aware of this as a revolution.. hell half of europe and us is rushing in to acquire more and more bitcoins. IMO the most imp factor affecting the prices is the eurozone crisis. Lets slovakia go bankrupt and u will probably see the value spiking again.. another short term factor are the massive DDOS attacks goin on. But since people have faith in the currency they are still buyin in. One big attack on an exchange like mtgox and the peoples trust takes a blow the rates go down.. so there are a lot of factors and it drives me crazy seein people coming out with rates out of thin air not knowin its because of them people are hoardin bitcoins which mite eventually lead to the failure of this revolution.. so stop the next year rates nonsense speculations atleast.. best u can speculate is the rate maybe 2 or 3 weeks from now..

Yes you do get it, Greed will catch up with people.

Many people in this forum are miners and they'll find lots of arguments to convince you that there'll never be a bubble, but simple because they can get more profit mining if prices go up.

It could scale that high. There's no doubt.

But that all depends on how deep the greed is. If most of the new money coming in is in it only for quick cash..expect it to never even get close. If it's smart money coming in holding for Bitcoin to evolve then expect it to go up quite a bit.

Like I said earlier, Everyone I know personally that's in Bitcoin is in it for the short term to make a quick couple bucks. Obviously my friends are a small sample pool, but judging by this mega friggn' rally I'd say they aren't the only people getting a bit too optimistic.

I don't think a major crash will kill bitcoin. However, I think it's just going to put it another step back from being even close to the level of Paypal or something like it.

the deflationary aspect of bitcoin is absolutely necessary. It's what causes this "greed" and speculation. But it also solves the chicken and egg problem of money. How can money be born from nothing and serve to act as money when nobody uses it? Nobody uses it because it's valueless... and it's valueless because nobody uses it. So why would anybody use it when it is worth nothing? The deflationary aspect gives a first cause to use it... because whoever uses it earlier will be rewarded so in a way that gives it an automatic perceived value to some people... which gets things rolling.