How does it feel to have sold < $80 today? - page 2.

waspoza

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Firstbits: 1waspoza

Quote from: cypherdoc on April 01, 2013, 01:13:20 PM

Quote from: waspoza on April 01, 2013, 12:45:40 PM

Paul Krugman:

Quote

The growth of the Internet will slow drastically, as the flaw in "Metcalfe's law"--which states that the number of potential connections in a network is proportional to the square of the number of participants--becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's.

http://web.archive.org/web/19980610100009/www.redherring.com/mag/issue55/economics.html

nice! when did he write that? i don't see a date.

June 1998 I think.

notme

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Quote from: SuperHakka on April 01, 2013, 01:01:45 PM

Quote from: bitsalame on April 01, 2013, 11:55:44 AM

You guys fail to understand that bitcoins ARE NOT STOCKS.
And also these are not tulips.
This is unique in the history of humankind, a digital currency with very specific properties with a very unique history.
It is definitely uncharted waters, so any experience you might have had with securities, commodities and/or forex, it is absolutely irrelevant.

Dude, when you been studying trading and investment for as long as I have, you know that there is no such thing as "uncharted waters". Let me give you an example of a tech that I invested in and lost. Baltimore Technologies was an up and coming company specialising in the wierd and wonderful world of PKI, that's they sold digital crytopgraphy management systems. Now digital crytopgraphy has blossomed and can be found in many areas of life nowadays, however what about the investment. It lost me 97%, the price chart of it if I scale it right would probably fit right on top of the bitcoin one. Nothing goes up exponentially forever dude, it's impossible. And usually in exchange traded instruments, prices don't just level off horizontally and wait for everyone to catch up, they fall dramatically after an exponential rise. Never seen an exception ever.

Sorry, but that sounds like you just made a shitty investment. Propriety PKI software is a very small market. Open source software can meet most users needs.

When the tech bubble popped, a large portion of the US population was using the internet on a daily basis. What portion are using Bitcoin at this time?

cypherdoc

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Quote from: waspoza on April 01, 2013, 12:45:40 PM

Paul Krugman:

Quote

The growth of the Internet will slow drastically, as the flaw in "Metcalfe's law"--which states that the number of potential connections in a network is proportional to the square of the number of participants--becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's.

http://web.archive.org/web/19980610100009/www.redherring.com/mag/issue55/economics.html

nice! when did he write that? i don't see a date.

SuperHakka

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Activity: 196

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Quote from: bitsalame on April 01, 2013, 11:55:44 AM

You guys fail to understand that bitcoins ARE NOT STOCKS.
And also these are not tulips.
This is unique in the history of humankind, a digital currency with very specific properties with a very unique history.
It is definitely uncharted waters, so any experience you might have had with securities, commodities and/or forex, it is absolutely irrelevant.

Dude, when you been studying trading and investment for as long as I have, you know that there is no such thing as "uncharted waters". Let me give you an example of a tech that I invested in and lost. Baltimore Technologies was an up and coming company specialising in the wierd and wonderful world of PKI, that's they sold digital crytopgraphy management systems. Now digital crytopgraphy has blossomed and can be found in many areas of life nowadays, however what about the investment. It lost me 97%, the price chart of it if I scale it right would probably fit right on top of the bitcoin one. Nothing goes up exponentially forever dude, it's impossible. And usually in exchange traded instruments, prices don't just level off horizontally and wait for everyone to catch up, they fall dramatically after an exponential rise. Never seen an exception ever.

BitcoinTate

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Activity: 224

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DigiByte Founder

Quote from: Buffer Overflow on April 01, 2013, 12:36:04 PM

"There is no reason anyone would want a computer in their home."
- Ken Olson, president, chairman and founder of DEC

Guess he never found porn....

waspoza

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Activity: 602

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Firstbits: 1waspoza

Paul Krugman:

Quote

The growth of the Internet will slow drastically, as the flaw in "Metcalfe's law"--which states that the number of potential connections in a network is proportional to the square of the number of participants--becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's.

http://web.archive.org/web/19980610100009/www.redherring.com/mag/issue55/economics.html

Buffer Overflow

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"There is no reason anyone would want a computer in their home."
- Ken Olson, president, chairman and founder of DEC

00null

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Quote from: BitcoinTate on April 01, 2013, 12:01:05 PM

Quote from: bitsalame on April 01, 2013, 11:55:44 AM

Quote from: proudhon on April 01, 2013, 10:50:25 AM

Quote from: SuperHakka on April 01, 2013, 10:01:43 AM

I sold all my bitcoins except 1 BTC which I am keeping for posterity in an online wallet. The reason I sold was because the price chart has gone exponential if looked at on a weekly or monthly basis. I having 20 years of trading experience on and off. I was trading in the tech stock bubble in the late 90's and even back then there were message forums like The Motley Fool which I was participating in. There were a few "investments" that got me burned, lessons which were worth 10 times the price I paid back then. Pay heed, if after surveying all the price data and the attitude of other market participants, if it looks like a bubble then swallow your emotions, it very most likely is a bubble. Don't get me wrong, I believe BTC will have a long term future, it's just that before then, and very soon, a massive price correction is going to happen and I will be in again.

I stick my neck out, BTC has just broken $100, I believe the price will drop rapidly to $50 by the end of April and will hit $25 some time in May at which point I will be buying again.

Good luck to everybody.

This. Still a little more optimistic than I am, but generally, I agree.

You guys fail to understand that bitcoins ARE NOT STOCKS.
And also these are not tulips.
This is unique in the history of humankind, a digital currency with very specific properties with a very unique history.
It is definitely uncharted waters, so any experience you might have had with securities, commodities and/or forex, it is absolutely irrelevant.

+1 Everything happens faster on the internet now days. Just look where Facebook was 5 years ago.

Have a look at the number of computers.
Famous quote:
"'I think there is a world market for about five computers' —Thomas J. Watson
All those bears would say that the exponential raise of computers is a bubble. I am sure proudhon would even say that the actual number of computer will fall to single digits soon...

BitcoinTate

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DigiByte Founder

Quote from: bitsalame on April 01, 2013, 11:55:44 AM

Quote from: proudhon on April 01, 2013, 10:50:25 AM

Quote from: SuperHakka on April 01, 2013, 10:01:43 AM

I sold all my bitcoins except 1 BTC which I am keeping for posterity in an online wallet. The reason I sold was because the price chart has gone exponential if looked at on a weekly or monthly basis. I having 20 years of trading experience on and off. I was trading in the tech stock bubble in the late 90's and even back then there were message forums like The Motley Fool which I was participating in. There were a few "investments" that got me burned, lessons which were worth 10 times the price I paid back then. Pay heed, if after surveying all the price data and the attitude of other market participants, if it looks like a bubble then swallow your emotions, it very most likely is a bubble. Don't get me wrong, I believe BTC will have a long term future, it's just that before then, and very soon, a massive price correction is going to happen and I will be in again.

I stick my neck out, BTC has just broken $100, I believe the price will drop rapidly to $50 by the end of April and will hit $25 some time in May at which point I will be buying again.

Good luck to everybody.

This. Still a little more optimistic than I am, but generally, I agree.

You guys fail to understand that bitcoins ARE NOT STOCKS.
And also these are not tulips.
This is unique in the history of humankind, a digital currency with very specific properties with a very unique history.
It is definitely uncharted waters, so any experience you might have had with securities, commodities and/or forex, it is absolutely irrelevant.

+1 Everything happens faster on the internet now days. Just look where Facebook was 5 years ago.

bitsalame

donator

Activity: 714

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Preaching the gospel of Satoshi

Quote from: proudhon on April 01, 2013, 10:50:25 AM

Quote from: SuperHakka on April 01, 2013, 10:01:43 AM

I sold all my bitcoins except 1 BTC which I am keeping for posterity in an online wallet. The reason I sold was because the price chart has gone exponential if looked at on a weekly or monthly basis. I having 20 years of trading experience on and off. I was trading in the tech stock bubble in the late 90's and even back then there were message forums like The Motley Fool which I was participating in. There were a few "investments" that got me burned, lessons which were worth 10 times the price I paid back then. Pay heed, if after surveying all the price data and the attitude of other market participants, if it looks like a bubble then swallow your emotions, it very most likely is a bubble. Don't get me wrong, I believe BTC will have a long term future, it's just that before then, and very soon, a massive price correction is going to happen and I will be in again.

I stick my neck out, BTC has just broken $100, I believe the price will drop rapidly to $50 by the end of April and will hit $25 some time in May at which point I will be buying again.

Good luck to everybody.

This. Still a little more optimistic than I am, but generally, I agree.

You guys fail to understand that bitcoins ARE NOT STOCKS.
And also these are not tulips.
This is unique in the history of humankind, a digital currency with very specific properties with a very unique history.
It is definitely uncharted waters, so any experience you might have had with securities, commodities and/or forex, it is absolutely irrelevant.

proudhon

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Quote from: SuperHakka on April 01, 2013, 10:01:43 AM

I sold all my bitcoins except 1 BTC which I am keeping for posterity in an online wallet. The reason I sold was because the price chart has gone exponential if looked at on a weekly or monthly basis. I having 20 years of trading experience on and off. I was trading in the tech stock bubble in the late 90's and even back then there were message forums like The Motley Fool which I was participating in. There were a few "investments" that got me burned, lessons which were worth 10 times the price I paid back then. Pay heed, if after surveying all the price data and the attitude of other market participants, if it looks like a bubble then swallow your emotions, it very most likely is a bubble. Don't get me wrong, I believe BTC will have a long term future, it's just that before then, and very soon, a massive price correction is going to happen and I will be in again.

I stick my neck out, BTC has just broken $100, I believe the price will drop rapidly to $50 by the end of April and will hit $25 some time in May at which point I will be buying again.

Good luck to everybody.

This. Still a little more optimistic than I am, but generally, I agree.

Amitabh S

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Quote from: SuperHakka on April 01, 2013, 10:01:43 AM

I stick my neck out, BTC has just broken $100, I believe the price will drop rapidly to $50 by the end of April and will hit $25 some time in May at which point I will be buying again.

Good luck to everybody.

Why 100? Whats so special about it? Why not 30pi? Its more logical.

myrkul

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Activity: 532

Merit: 500

FIAT LIBERTAS RVAT CAELVM

There are a lot of reasons why this is not the tech bubble.

What we are seeing here is the adoption curve of a new technology. It will hit saturation eventually, and stabilize, but until then, more people are going to find out about Bitcoin every day, and many of them are going to want in. As long as that's happening, expect the price to rise.

bitsalame

donator

Activity: 714

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Preaching the gospel of Satoshi

Quote from: SuperHakka on April 01, 2013, 10:01:43 AM

I sold all my bitcoins except 1 BTC which I am keeping for posterity in an online wallet. The reason I sold was because the price chart has gone exponential if looked at on a weekly or monthly basis. I having 20 years of trading experience on and off. I was trading in the tech stock bubble in the late 90's and even back then there were message forums like The Motley Fool which I was participating in. There were a few "investments" that got me burned, lessons which were worth 10 times the price I paid back then. Pay heed, if after surveying all the price data and the attitude of other market participants, if it looks like a bubble then swallow your emotions, it very most likely is a bubble. Don't get me wrong, I believe BTC will have a long term future, it's just that before then, and very soon, a massive price correction is going to happen and I will be in again.

I stick my neck out, BTC has just broken $100, I believe the price will drop rapidly to $50 by the end of April and will hit $25 some time in May at which point I will be buying again.

Good luck to everybody.

Doubt that it will be sub $50.

SuperHakka

full member

Activity: 196

Merit: 100

I sold all my bitcoins except 1 BTC which I am keeping for posterity in an online wallet. The reason I sold was because the price chart has gone exponential if looked at on a weekly or monthly basis. I having 20 years of trading experience on and off. I was trading in the tech stock bubble in the late 90's and even back then there were message forums like The Motley Fool which I was participating in. There were a few "investments" that got me burned, lessons which were worth 10 times the price I paid back then. Pay heed, if after surveying all the price data and the attitude of other market participants, if it looks like a bubble then swallow your emotions, it very most likely is a bubble. Don't get me wrong, I believe BTC will have a long term future, it's just that before then, and very soon, a massive price correction is going to happen and I will be in again.

I stick my neck out, BTC has just broken $100, I believe the price will drop rapidly to $50 by the end of April and will hit $25 some time in May at which point I will be buying again.

Good luck to everybody.

Amitabh S

legendary

Activity: 1001

Merit: 1005