How Much Lower are We Going? Already at $2.25 !!! - page 6.

Hotdog453

full member

Activity: 121

Merit: 100

Quote

There is also no rational reason why the USD or the EUR is worth anything either, other than a thinly veiled 'promise' from central banks and nation states.

I have made plenty of money on Bitcoins, but please don't try to compare Bitcoin with the USD or the Euro in terms of "why is this worth something". It's a horrible comparison.

mjcmurfy

sr. member

Activity: 336

Merit: 250

Quote from: proudhon on November 17, 2011, 08:08:25 AM

To answer the question in the thread title...we're going all the way down. There simply is no reason for bitcoins to be worth more than a $1, no reason at all. Nagle has been right. When a bubble pops, it pops all the way, and in the case of bitcoin, there's no reason for a legitimate recovery on the horizon.

There might be no rational reason right now, no. But there are plenty of irrational/psychological reasons based on potential future valuations. There is also no rational reason why the USD or the EUR is worth anything either, other than a thinly veiled 'promise' from central banks and nation states. It doesn't stop you from buying your milk and bread with it.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: proudhon on November 17, 2011, 08:08:25 AM

To answer the question in the thread title...we're going all the way down. There simply is no reason for bitcoins to be worth more than a $1, no reason at all. Nagle has been right. When a bubble pops, it pops all the way, and in the case of bitcoin, there's no reason for a legitimate recovery on the horizon.

yawn.

proudhon

legendary

Activity: 2198

Merit: 1311

To answer the question in the thread title...we're going all the way down. There simply is no reason for bitcoins to be worth more than a $1, no reason at all. Nagle has been right. When a bubble pops, it pops all the way, and in the case of bitcoin, there's no reason for a legitimate recovery on the horizon.

BadBear

legendary

Activity: 1652

Merit: 1128

Quote from: Cluster2k on November 17, 2011, 03:40:45 AM

Quote from: wobber on November 17, 2011, 03:01:10 AM

is this titanic sinking in fireworks? how did you produce this image?

Probably signaling flares. The Titanic was so.... titanic, when it went down that it made the entire ocean list, by the looks of that image.

Yeah signal flares for the rescue ships that were underway. And lol at ocean listing. Didn't notice that til you pointed it out.

zby

legendary

Activity: 1594

Merit: 1001

Quote from: conspirosphere.tk on November 17, 2011, 01:42:54 AM

So if the trend persists how long before BTC goes sub-zero?

Never - this is a log scale.

Cluster2k

legendary

Activity: 1692

Merit: 1018

Quote from: wobber on November 17, 2011, 03:01:10 AM

is this titanic sinking in fireworks? how did you produce this image?

Probably signaling flares. The Titanic was so.... titanic, when it went down that it made the entire ocean list, by the looks of that image.

wobber

legendary

Activity: 1064

Merit: 1001

is this titanic sinking in fireworks? how did you produce this image?

BadBear

legendary

Activity: 1652

Merit: 1128

Cluster2k

legendary

Activity: 1692

Merit: 1018

Boom. Dumping several thousand BTC has just pushed us past $2. New post bubble lows.

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Quote from: conspirosphere.tk on November 17, 2011, 01:42:54 AM

So if the trend persists how long before BTC goes sub-zero?

[sinking with the ship bought at 19$]

its not going to go much lower ... Maybe we'll see 1$
bubble #2 is on its way no worries

conspirosphere.tk

legendary

Activity: 2352

Merit: 1064

Bitcoin is antisemitic

So if the trend persists how long before BTC goes sub-zero?

[sinking with the ship bought at 19$]

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Quote from: Nagle on November 16, 2011, 11:48:05 AM

Bitcoin, last 5 months, on log scale. Brown line is 30 day trailing moving average.

The long, slow slide is right on track. It's been all downhill for 5 months now, and the trend is consistent Currently, the price is cut in half every 5-6 weeks.

Every once in a while, there's a big drop, and then the price recovers. But it never recovers all the way.

Its been one price concretion after the next, going down, for the past 5 months.... whats your point?

proudhon

legendary

Activity: 2198

Merit: 1311

Quote from: Nagle on November 16, 2011, 11:48:05 AM

Bitcoin, last 5 months, on log scale. Brown line is 30 day trailing moving average.

The long, slow slide is right on track. It's been all downhill for 5 months now, and the trend is consistent Currently, the price is cut in half every 5-6 weeks.

Every once in a while, there's a big drop, and then the price recovers. But it never recovers all the way.

Admitting you are right a few months ago has served me well. Thankfully there have been enough bag holders resisting the obvious.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: BadBear on November 16, 2011, 07:41:39 AM

Talking about how much support is at 1.00 and how it can never stay that low is foolish, because it's not like it will only get near it once then bounce straight back up never to come down again. Sure the first time it gets near a dollar there will be lots of buys, but what about the second time, third time? Same thing is happening now. Last time the price was this low there was quite a bit of support with a decent rally back up to 3.70ish. The price falls again, and the people who would have bought in have bought in already, and there is very little support left.

In case you're answering to me: that's why I said: "this year" it well not go below $1 for more than an hour.

BadBear

legendary

Activity: 1652

Merit: 1128

Nagle is the manipulator!

Nagle

legendary

Activity: 1204

Merit: 1002

Bitcoin, last 5 months, on log scale. Brown line is 30 day trailing moving average.

The long, slow slide is right on track. It's been all downhill for 5 months now, and the trend is consistent Currently, the price is cut in half every 5-6 weeks.

Every once in a while, there's a big drop, and then the price recovers. But it never recovers all the way.

Crypt_Current

hero member

Activity: 686

Merit: 500

Shame on everything; regret nothing.

Quote from: molecular on November 16, 2011, 04:09:19 AM

Quote from: Crypt_Current on November 15, 2011, 04:40:14 PM

Quote from: gewure on November 15, 2011, 03:21:10 PM

3 targets for me:

1.77 BUY
1.54 Strong BUY
1.24 super Strong BUY

i don't think it will go any deeper than 1.24 at no time. everyone is talking agbout the 1-mark, so i doubt it will ever reach it, cause everybodsy will buy like mad if it should even only touch 1.1

100% speculation, i mostly use s3020 suggestions on elliot waves.

I think you mean S3052 Grin

But yes, me too, and I have been very satisfied lately.

Have you guys subscribed to his investment letter?

Not yet.

BadBear

legendary

Activity: 1652

Merit: 1128

Talking about how much support is at 1.00 and how it can never stay that low is foolish, because it's not like it will only get near it once then bounce straight back up never to come down again. Sure the first time it gets near a dollar there will be lots of buys, but what about the second time, third time? Same thing is happening now. Last time the price was this low there was quite a bit of support with a decent rally back up to 3.70ish. The price falls again, and the people who would have bought in have bought in already, and there is very little support left.

old_engineer

sr. member

Activity: 387

Merit: 250

Quote from: molecular on November 16, 2011, 04:09:19 AM

Quote from: Crypt_Current on November 15, 2011, 04:40:14 PM

Quote from: gewure on November 15, 2011, 03:21:10 PM

3 targets for me:

1.77 BUY
1.54 Strong BUY
1.24 super Strong BUY

i don't think it will go any deeper than 1.24 at no time. everyone is talking agbout the 1-mark, so i doubt it will ever reach it, cause everybodsy will buy like mad if it should even only touch 1.1

100% speculation, i mostly use s3020 suggestions on elliot waves.

I think you mean S3052 Grin

But yes, me too, and I have been very satisfied lately.

Have you guys subscribed to his investment letter?

I wouldn't subscribe to an investment letter unless the author could prove that they control >100,000 bitcoins, and are describing their upcoming moves.

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