It's called a correction (waveaddict's bitcoin charting subscription thread) - page 37.

teflone

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You're fat, because you dont have any pics on FB

Quote from: proudhon on February 28, 2012, 01:36:36 PM

Still not low enough guys. Especially on bitcoinica. Keep going.

Your long ?

you speak as though your short...

proudhon

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Still not low enough guys. Especially on bitcoinica. Keep going.

waveaddict

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Ok guys, I just sent today's email. I kept it simple today and threw in some basic trading advice

proudhon

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Not low enough, pirateat40, go lower. Thanks.

Otoh

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Quote from: waveaddict on February 27, 2012, 06:05:22 PM

Think about buying gold when you see commercials about how to sell your gold for cash (which they'll then say is more useful than gold at this point). Learn to never follow the crowd and your investing will always take a turn for the better

Quote from: dopamine on February 27, 2012, 05:47:53 PM

Whoa your not even bullish on precious metals, physical that is...

While I don't necessarily disagree, there have never been more Sell your Gold - We buy Gold commercials than in the last few years

teflone

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You're fat, because you dont have any pics on FB

Quote from: waveaddict on February 28, 2012, 11:26:46 AM

Don't be...I'll send out an email in a sec Wink

Quote from: teflone on February 28, 2012, 11:21:19 AM

Getting nervous... Undecided

Ok, I trust ya..

beardman

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Quote from: teflone on February 28, 2012, 11:21:19 AM

Getting nervous... Undecided

I'm just assuming its pirate playing around with us... or someone else who wanted to grab up some cheap bitcoins. Just glad to see some sort of movement, sort of.

waveaddict

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Don't be...I'll send out an email in a sec Wink

Quote from: teflone on February 28, 2012, 11:21:19 AM

Getting nervous... Undecided

teflone

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You're fat, because you dont have any pics on FB

Getting nervous... Undecided

waveaddict

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gold went up 500% in 10 years while inflation went up a fraction of that. Trust me, the rise in precious metals is not a natural and normal rise. Right now it is purely based on speculation and not on inflation expectations. People always chase the best performer which gold has been for a while now. It has become a crowded trade.

Quote from: mysteriousawake on February 28, 2012, 08:25:05 AM

http://inflation.us/charts.html

The price of precious metals are rising because of inflation? So its still worth the same.

mysteriousawake

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http://inflation.us/charts.html

The price of precious metals are rising because of inflation? So its still worth the same.

waveaddict

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the way I see it Blitzboom is that you cannot easily buy and sell goods and services with gold while you sort of can with bitcoin since it is a form of currency unlike gold for instance (well at least until the gold standard returns). Moreover, I see it more as a cash substitute so that if someone wants to buy a good or service with cash, but online, then instead of paying with credit, you pay with bitcoin that you quickly buy from an exchange and then sell (kind of like a quick intermediate). I don't see people holding a lot of bitcoin long term. Plus, I already checked and there is no link between the bitcoin price and the dollar or with any other asset price. It kind of trades all by itself.

But honestly Blitzboom, I've learned long ago to not heavily cloud my trading with a bias like you mentioned. I just play both long and short whatever direction the charts point. I'm here to make money from speculating and not from heavily promoting it. It is quite neat though so I hope it succeeds Wink

Quote from: N12 on February 28, 2012, 12:42:22 AM

Quote from: waveaddict on February 27, 2012, 06:05:22 PM

Think about it though...the higher your debt obligations become, the more dollars you will need to pay off that debt creating a higher demand for dollars thus raising the value of those dollars relative to everything else including commodities. Its part of a deflationary spiral that Japan for example has been suffering from for two and a half decades. Their yen is going up in value relative to their debt obligations...not down.

But wouldn’t the deflationary pressure apply to Bitcoin, too? I always imagined that an asset as risky would be the first that is drained when you need more cash.

So I don’t really understand (on a fundamental basis) why you are bullish Bitcoin, and I know you are rather new to it, so you are likely unbiased. How would it flourish despite a shit economy where everyone is more concerned about food and clothing than a speculative decentralized currency?

N12

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Quote from: waveaddict on February 27, 2012, 06:05:22 PM

Think about it though...the higher your debt obligations become, the more dollars you will need to pay off that debt creating a higher demand for dollars thus raising the value of those dollars relative to everything else including commodities. Its part of a deflationary spiral that Japan for example has been suffering from for two and a half decades. Their yen is going up in value relative to their debt obligations...not down.

But wouldn’t the deflationary pressure apply to Bitcoin, too? I always imagined that an asset as risky would be the first that is drained when you need more cash.

So I don’t really understand (on a fundamental basis) why you are bullish Bitcoin, and I know you are rather new to it, so you are likely unbiased. How would it flourish despite a shit economy where everyone is more concerned about food and clothing than a speculative decentralized currency?

ydenys

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@ waveaddict – sorry, but time will pass, cages rattled, debt written off and shifted to some plonkers who matter little; rich people get richer, poor poorer as always. Current celebrated, so called ‘information freedom’ matters little as it can be controlled easily enough (a few bold steps are in a framework/being implemented/dragged through legals right now). Almost all common media is biased and so are enforcement/legal structures. There is really no way public opinion can be changed drastically enough to fulfil your ‘scary’ predictions. And I think it is good, for all it worth, bite me, but most of the population should not have their ‘own opinion’ about such matters.

Bitcoin, however, is a new and just unpredictable enough phenomenon to be fun to invest in - since it is dependent on previously unexplored small, emotional and mostly naïve group of users and governed by ‘free’ market laws – so far. Would I invest more than 1/500th of my money in it? - certainly not. As I fear it would not remain free, naïve or small (I hope:) for too long.

OgNasty

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