Is the bubble exploding right in front of us?!

kiba

legendary

Activity: 980

Merit: 1024

Quote from: Durr on June 11, 2011, 07:20:24 PM

Can you imagine those guys who bought thousands at 30$?

They must feel fucking terrible right now. (if they didn't sell yet)

And I feel great for an opportunity to take advantage of the mayhem and promote my magazine.

Durr

newbie

Activity: 28

Merit: 0

Can you imagine those guys who bought thousands at 30$?

They must feel fucking terrible right now. (if they didn't sell yet)

TonyHoyle

newbie

Activity: 59

Merit: 0

Quote from: lemonginger on June 11, 2011, 07:15:05 PM

Quote from: BTCPrizes on June 11, 2011, 06:41:23 PM

I'm afraid this is not a bubble whatsoever, just an expected drop from speculation. The REAL bubble is much further ahead of us.

it's like people bought into a market they have only been watching for 48 hours.

And they bought with no intention of staying in long enough to smooth out the bumps.

kiba

legendary

Activity: 980

Merit: 1024

You guys rock! Mention a bubble about bitcoin and I get to post my bitcoin bubble comic.

lemonginger

full member

Activity: 210

Merit: 100

firstbits: 121vnq

Quote from: BTCPrizes on June 11, 2011, 06:41:23 PM

I'm afraid this is not a bubble whatsoever, just an expected drop from speculation. The REAL bubble is much further ahead of us.

it's like people bought into a market they have only been watching for 48 hours.

BTCPrizes

newbie

Activity: 28

Merit: 0

I'm afraid this is not a bubble whatsoever, just an expected drop from speculation. The REAL bubble is much further ahead of us.

btcLeger

member

Activity: 98

Merit: 10

It will be the same as on the stock markets:

isnt it already? Grin

naive

newbie

Activity: 11

Merit: 0

Quote from: optionstalker on June 11, 2011, 06:29:18 PM

I think there is still a lot of sell pressure on BTC because Mt Gox only allows $1k/day withdrawals and $10k/month, so how many early adopters are there still waiting to cash out?? I believe BitCoin is here to stay for the long term, but not so sure about the next month or two...

In a month or two there will be nothing left of this concept, just people without their life savings...

optionstalker

newbie

Activity: 23

Merit: 0

I think there is still a lot of sell pressure on BTC because Mt Gox only allows $1k/day withdrawals and $10k/month, so how many early adopters are there still waiting to cash out?? I believe BitCoin is here to stay for the long term, but not so sure about the next month or two...

finnthecelt

full member

Activity: 140

Merit: 101

Quote from: MissKara on June 11, 2011, 05:57:44 PM

We have no idea how this market will level off after a bubble burst like this.

Sure we do: trepidatious fervor

MissKara

newbie

Activity: 8

Merit: 0

i personally think any commentary on what the market will do is straight BS, This is a new exchange system and currency which can not be compared to others.

The supply and demand is based on what is buzzing around on the internet.

if all of you care so much about dropping prices, go out and promote bitcoin, rather then hording the great idea to yourselfs. This will create more buzz which will drive the prices back up.

We have no idea how this market will level off after a bubble burst like this.

oyster2000

newbie

Activity: 38

Merit: 0

Quote

Where it would have been had someone not come in and manipulated the market with around a million dollars.

Exactly. This is an obvious correction + its the weekend remember... will probably climb back up towards 20 by next week

SlaveInDebt

hero member

Activity: 699

Merit: 500

Your Minion

Crystal Ball says

Quote

Settles at $10-15

Where it would have been had someone not come in and manipulated the market with around a million dollars.

finnthecelt

full member

Activity: 140

Merit: 101

Quote from: Klestin on June 11, 2011, 05:34:08 PM

A drop in price is outstanding if it means people stop mass purchasing of graphics cards so we can see a drop in difficulty. Unfortunately I fear the rest of you crazies are just as stubborn as I am and will keep mining even when the exchange rate can't pay for the electricity. Angry

I guess we can at least hope for a bit of leveling off in the hash speed growth rate.

Oh I'm committed now. My brain is already creating defense mechanisms and rationalizations to justify my expenditures!!!

Klestin

hero member

Activity: 493

Merit: 500

A drop in price is outstanding if it means people stop mass purchasing of graphics cards so we can see a drop in difficulty. Unfortunately I fear the rest of you crazies are just as stubborn as I am and will keep mining even when the exchange rate can't pay for the electricity. Angry

I guess we can at least hope for a bit of leveling off in the hash speed growth rate.

ssaCEO

hero member

Activity: 568

Merit: 500

Quote from: Tha Feds on June 11, 2011, 05:17:23 PM

This thread is comic gold.

It's a little like watching Generation Y find out that Santa Claus is dead. Having the dubious honor of reading this board for the very first time tonight makes me realize how much they don't teach in school anymore...and how high the hopes were. This is their 1849, 1917, 1969. Down with the man, then the kids lose again. Makes me kind of sad, kind of baffled that nothing ever changes. Just watch; someone will come out of this thing and end up being director of the Fed in 2026, lol.

finnthecelt

full member

Activity: 140

Merit: 101

Quote from: pokermon919 on June 11, 2011, 05:23:19 PM

Quote from: flug on June 11, 2011, 05:14:22 PM

If bitcoin survives a bubble like this and survives, there must be something backing it, even if its only the stubborness of its users.

I think this is true to a certain extent. It's currency if the PEOPLE believe its currency. If bitcoin takes a huge hit and doesn't get destroyed it will be stronger.

Correct. And I think the same thing can be said about the Euro right now.

confused

newbie

Activity: 9

Merit: 0

Quote from: finnthecelt on June 11, 2011, 05:24:13 PM

Quote from: confused on June 11, 2011, 05:20:52 PM

Quote from: finnthecelt on June 11, 2011, 05:15:13 PM

I'm very glad I bought my rigs rather than take the advice to simply buy coins. At least now I have the option of hanging onto them for as long as I wish.

It's amazing all the crystal balls that are coming out eh? Corrections are always painful and bring out more speculation than the initial speculative fervor!!!

You know, when the price goes up from time to time now, it's just the guys who have already invested and are trying to save their investment by buying more and creating some green spots on the chart. They're gonna lose more that way...

So go cry into your pillow. You're becoming trollish.

Alright, I'll stop here as I don't want to become a troll.

finnthecelt

full member

Activity: 140

Merit: 101

Quote from: confused on June 11, 2011, 05:20:52 PM

Quote from: finnthecelt on June 11, 2011, 05:15:13 PM

I'm very glad I bought my rigs rather than take the advice to simply buy coins. At least now I have the option of hanging onto them for as long as I wish.

It's amazing all the crystal balls that are coming out eh? Corrections are always painful and bring out more speculation than the initial speculative fervor!!!

You know, when the price goes up from time to time now, it's just the guys who have already invested and are trying to save their investment by buying more and creating some green spots on the chart. They're gonna lose more that way...

So go cry into your pillow. You're becoming trollish.

pokermon919

member

Activity: 84

Merit: 10

Quote from: flug on June 11, 2011, 05:14:22 PM

If bitcoin survives a bubble like this and survives, there must be something backing it, even if its only the stubborness of its users.

I think this is true to a certain extent. It's currency if the PEOPLE believe its currency. If bitcoin takes a huge hit and doesn't get destroyed it will be stronger.

Topic: Is the bubble exploding right in front of us?! (Read 5410 times)