Is this concerning? - page 3. | Bitcointalksearch.org

notme

legendary

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Quote from: MAbtc on May 07, 2013, 03:36:10 PM

It just seems so strange to see so many people suggesting that the bubble is over (..."onto the next bubble"...)

Doesn't seem to be in tune with the nature of bubbles. Are these people saying that this was not, in fact, a bubble? Or simply that bitcoin is different than any other speculative asset?

If you make decisions on the basis that bitcoin is different than any other speculative asset, I think you might be crazy. That bitcoin might be novel, etc. doesn't change its nature.

It`s called denial.

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

Quote from: MAbtc on May 07, 2013, 03:36:10 PM

Or simply that bitcoin is different than any other speculative asset?

This is exactly what people here actually believe. Just a month ago, every other thread was talking about bitcoin being the "new paradigm" (yes, people used those exact words), and how bitcoin was different from every other speculative tool/investment.

MAbtc

hero member

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It just seems so strange to see so many people suggesting that the bubble is over (..."onto the next bubble"...)

Doesn't seem to be in tune with the nature of bubbles. Are these people saying that this was not, in fact, a bubble? Or simply that bitcoin is different than any other speculative asset?

If you make decisions on the basis that bitcoin is different than any other speculative asset, I think you might be crazy. That bitcoin might be novel, etc. doesn't change its nature.

Stunna

legendary

Activity: 3192

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Primedice.com, Stake.com

Jokes aside, graphs/charts are a good guiding factor to help you understand markets but predicting markets is an entirely different thing.

I've seen that same graph 100s of times, sometimes it was true and sometimes it wasn't. I wouldn't be concerned over something appearing to look similar to that trend though. After all during the older BTC crashes people showed those same charts and now bitcoins have multiplied many times.

Razick

legendary

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The market certainly isn't bullish right now. Just traded at $100/1BTC

ManBearPig

sr. member

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"Don't go in the trollbox, trollbox, trollbox"

Congrats. You are this week's poster of THAT CHART

Yes, it goes up a bit then down a bit, up some more and down some more.

bitcon

legendary

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ppl were showing the same chart after the 2011 crash.

Razick

legendary

Activity: 1330

Merit: 1003

Quote from: N12 on May 07, 2013, 08:03:51 AM

Quote from: Razick on May 07, 2013, 07:55:57 AM

It's funny because even though I personally thought Bitcoin would never have a bubble like the 2011 one again, people still bought in, and insults raged at anyone who called, or even voiced concern about it. I'm optimistic about Bitcoin long term, but the reality is, the community loves its baby more than the rest of the world does (as of yet), and is too bullish in general. After a 2046% rise from $13 to $266, all anyone could say is "Don't sell now! We're headed to $1000 and beyond!"

My point is, we just recently saw irrational thinking with regards to price (I was beginning to succumb myself so this isn't an insult) on a scale that just shouldn't be possible, and I think caution is still warranted. The price could go up... but it could go down $50 or even $30.

What's truly incredible is that Bitcoin went down 81% in 3 days. So that part is already worse than 2011, where it "only" crashed from 32 to 10 in the initial burst. I also thought this market would get more efficient at higher prices, it's truly incredible. It's like the speculator's perpetuum mobile, the infinite money making machine.

Also, I love how everyone gets hyped about some news piece and justifies the next bull trap with it. It's Tuesday after a long weekend, and the price is going down like on the last Tuesday.

+1. The news coverage is encouraging, but don't forget that the news, in the US and in China, covers a lot of BS, crap and useless junk. That's not what Bitcoin is, but most viewers don't know the difference. Also, as long as coverage refers to Bitcoin as "A computerized currency that can be generated by solving math problems on any computer" without a rigorous discussion of the benefits, it doesn't do us much good.

BitcoinAshley

sr. member

Activity: 448

Merit: 250

Quote from: dexX7 on May 07, 2013, 07:28:57 AM

Notice how the OP completely exposes himself as a douchey troll by fuxx0ring with the time scale to make it appear that we haven't already hit the "real bottom."

If what OP suggests is correct and the BTC bubble will have the same "bubble anatomy," OP must logically follow through and conclude that we already hit the "real bottom" right above fifty, and we are right before the "final capitulation" which I am waiting for. But instead, OP fucked with the time scale, manipulated it to appear that we were only at the beginning stage of the "bubble anatomy."

+9000 internet fail points to OP!

If I had a good picture of the Phail Quail I would post him here for you.

TL;DR: If you believe the two bubble anatomies will be identical, sell 5-10% and wait a week for final capitulation, buy back in, and you're good to go.

If you believe OP's obvious timescale manipulation, you're a tool, so sell all your bitcoins and go back to investing in real estate Grin

adpinbr

sr. member

Activity: 1078

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Quote from: N12 on May 07, 2013, 08:03:51 AM

Quote from: Razick on May 07, 2013, 07:55:57 AM

It's funny because even though I personally thought Bitcoin would never have a bubble like the 2011 one again, people still bought in, and insults raged at anyone who called, or even voiced concern about it. I'm optimistic about Bitcoin long term, but the reality is, the community loves its baby more than the rest of the world does (as of yet), and is too bullish in general. After a 2046% rise from $13 to $266, all anyone could say is "Don't sell now! We're headed to $1000 and beyond!"

My point is, we just recently saw irrational thinking with regards to price (I was beginning to succumb myself so this isn't an insult) on a scale that just shouldn't be possible, and I think caution is still warranted. The price could go up... but it could go down $50 or even $30.

What's truly incredible is that Bitcoin went down 81% in 3 days. So that part is already worse than 2011, where it "only" crashed from 32 to 10 in the initial burst. I also thought this market would get more efficient at higher prices, it's truly incredible. It's like the speculator's perpetuum mobile, the infinite money making machine.

Also, I love how everyone gets hyped about some news piece and justifies the next bull trap with it. It's Tuesday after a long weekend, and the price is going down like on the last Tuesday.

Blitz this post seems slightly bullish relative to your prior bearish posts. so id like to understand what kinda beast r u?

Also what are pplz opinion abt ripple. 10X itself in a week. personally i think its a scam but it seems like we could make some money on this don't y'all think?

quantsig

newbie

Activity: 43

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Quote from: Rampion on May 07, 2013, 07:48:52 AM

Expected and not concerning at all. Bitcoin needs a sustainable price trend. Bubbling is not sustainable. Thus, this burst/correction is needed and welcomed.

Take this chance to buy more coins.

Take this chance to buy and spend coins. That way you can demonstrate their real promise.

Razick

legendary

Activity: 1330

Merit: 1003

Quote from: melvster on May 07, 2013, 08:01:47 AM

Quote from: Razick on May 07, 2013, 07:24:49 AM

I'm not going to say anything here, except that the similarity between these charts is eerie, and the second image comes from a real estate article, not Bitcoin.

Only if you think bitcoin is a bubble Cheesy

I don't think Bitcoin is a bubble, but it's price may be. There is a difference.

Quote from: N12 on May 07, 2013, 08:03:51 AM

Quote from: Razick on May 07, 2013, 07:55:57 AM

It's funny because even though I personally thought Bitcoin would never have a bubble like the 2011 one again, people still bought in, and insults raged at anyone who called, or even voiced concern about it. I'm optimistic about Bitcoin long term, but the reality is, the community loves its baby more than the rest of the world does (as of yet), and is too bullish in general. After a 2046% rise from $13 to $266, all anyone could say is "Don't sell now! We're headed to $1000 and beyond!"

My point is, we just recently saw irrational thinking with regards to price (I was beginning to succumb myself so this isn't an insult) on a scale that just shouldn't be possible, and I think caution is still warranted. The price could go up... but it could go down $50 or even $30.

What's truly incredible is that Bitcoin went down 81% in 3 days. So that part is already worse than 2011, where it "only" crashed from 32 to 10 in the initial burst. I also thought this market would get more efficient at higher prices, it's truly incredible. It's like the speculator's perpetuum mobile, the infinite money making machine.

Also, I love how everyone gets hyped about some news piece and justifies the next bull trap with it. It's Tuesday after a long weekend, and the price is going down like on the last Tuesday.

+1. The news coverage is encouraging, but don't forget that the news, in the US and in China, covers a lot of BS, crap and useless junk. That's not what Bitcoin is, but most viewers don't know the difference. Also, as long as coverage refers to Bitcoin as "A computerized currency that can be generated by solving math problems on any computer" without a rigorous discussion of the benefits, it doesn't do us much good.

The market certainly isn't bullish right now. Just traded at $100/1BTC

N12

donator

Activity: 1610

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Quote from: Razick on May 07, 2013, 07:55:57 AM

It's funny because even though I personally thought Bitcoin would never have a bubble like the 2011 one again, people still bought in, and insults raged at anyone who called, or even voiced concern about it. I'm optimistic about Bitcoin long term, but the reality is, the community loves its baby more than the rest of the world does (as of yet), and is too bullish in general. After a 2046% rise from $13 to $266, all anyone could say is "Don't sell now! We're headed to $1000 and beyond!"

My point is, we just recently saw irrational thinking with regards to price (I was beginning to succumb myself so this isn't an insult) on a scale that just shouldn't be possible, and I think caution is still warranted. The price could go up... but it could go down $50 or even $30.

What's truly incredible is that Bitcoin went down 81% in 3 days. So that part is already worse than 2011, where it "only" crashed from 32 to 10 in the initial burst. I also thought this market would get more efficient at higher prices, it's truly incredible. It's like the speculator's perpetuum mobile, the infinite money making machine.

Also, I love how everyone gets hyped about some news piece and justifies the next bull trap with it. It's Tuesday after a long weekend, and the price is going down like on the last Tuesday.

Razick

legendary

Activity: 1330

Merit: 1003

Quote from: BIGMERVE on May 07, 2013, 07:58:23 AM

It's all over guys. Someone found two graphs that looks similar. Pack up you bags and head out.

+1 and -1 at the same time. Haha.

Razick

legendary

Activity: 1330

Merit: 1003

Quote from: Rampion on May 07, 2013, 07:48:52 AM

Expected and not concerning at all. Bitcoin needs a sustainable price trend. Bubbling is not sustainable. Thus, this burst/correction is needed and welcomed.

Take this chance to buy more coins.

+1

melvster

sr. member

Activity: 350

Merit: 250

Quote from: Razick on May 07, 2013, 07:24:49 AM

I'm not going to say anything here, except that the similarity between these charts is eerie, and the second image comes from a real estate article, not Bitcoin.

Only if you think bitcoin is a bubble Cheesy

Razick

legendary

Activity: 1330

Merit: 1003

Quote from: Zaih on May 07, 2013, 07:52:37 AM

Surprisingly familiar... xD

Don't worry. Bitcoin's gon'go up!

A prime example of my point. This is the kind of thinking that created the bubble in the first place.

BIGMERVE

hero member

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It's all over guys. Someone found two graphs that looks similar. Pack up you bags and head out.

Razick

legendary

Activity: 1330

Merit: 1003

Quote from: N12 on May 07, 2013, 07:44:17 AM

Remember this, guys?

Now look at this:

Now, at what point do you think we are?

It's funny because even though I personally thought Bitcoin would never have a bubble like the 2011 one again, people still bought in, and insults raged at anyone who called, or even voiced concern about it. I'm optimistic about Bitcoin long term, but the reality is, the community loves its baby more than the rest of the world does (as of yet), and is too bullish in general. After a 2046% rise from $13 to $266, all anyone could say is "Don't sell now! We're headed to $1000 and beyond!"

My point is, we just recently saw irrational thinking with regards to price (I was beginning to succumb myself so this isn't an insult) on a scale that just shouldn't be possible, and I think caution is still warranted. The price could go up... but it could go down $50 or even $30.

Quote from: Zaih on May 07, 2013, 07:52:37 AM

Surprisingly familiar... xD

Don't worry. Bitcoin's gon'go up!

A prime example of my point. This is the kind of thinking that created the bubble in the first place.

Zaih

hero member

Activity: 504

Merit: 500

Surprisingly familiar... xD

Don't worry. Bitcoin's gon'go up!

Topic: Is this concerning? - page 3. (Read 6333 times)