All-in. Subject to swings.
I have pushed my break-even point down to $32 and I'm not sweating about that being broken anytime soon.
I will work with that $50 being the bottom for the immediate future though everything changes.
Topic: Market sentiment poll - did we see the bottom ($50 at Gox)? (Read 5039 times)
Current voting results:
yes - I am fully (back) in BTC 51 (24.4%)
yes - but I wait for confirmation 37 (17.7%)
I don't know 35 (16.7%)
no - but I've bought some 20 (9.6%)
no 66 (31.6%)
Total Voters: 209
Price at 73 (big wall at 70 - fake?).
Sentiment slightly up.
yes - I am fully (back) in BTC 51 (24.4%)
yes - but I wait for confirmation 37 (17.7%)
I don't know 35 (16.7%)
no - but I've bought some 20 (9.6%)
no 66 (31.6%)
Total Voters: 209
Price at 73 (big wall at 70 - fake?).
Sentiment slightly up.
Proudhon, may I ask what changed in two days to make you so bullish compared to two days ago?
Oh, I just began reading a lot about how much attention the infrastructure is getting, and it looks like people concerned with those things realize better now how robust and scalable their designs need to be, and it looks like developers are interested in building the right sort of systems. MtGox, in particular, seems to be doing much better now, even as we're seeing record trade volumes. As far as trading goes, the activity down to and around $50 looked bottom-ish enough that I think it probably is. It will be a struggle moving beyond last week, but it looks like the development community is serious about it.
Proudhon, may I ask what changed in two days to make you so bullish compared to two days ago?
Oh, I just began reading a lot about how much attention the infrastructure is getting, and it looks like people concerned with those things realize better now how robust and scalable their designs need to be, and it looks like developers are interested in building the right sort of systems. MtGox, in particular, seems to be doing much better now, even as we're seeing record trade volumes. As far as trading goes, the activity down to and around $50 looked bottom-ish enough that I think it probably is. It will be a struggle moving beyond last week, but it looks like the development community is serious about it.
Proudhon, may I ask what changed in two days to make you so bullish compared to two days ago?
Oh, I just began reading a lot about how much attention the infrastructure is getting, and it looks like people concerned with those things realize better now how robust and scalable their designs need to be, and it looks like developers are interested in building the right sort of systems. MtGox, in particular, seems to be doing much better now, even as we're seeing record trade volumes. As far as trading goes, the activity down to and around $50 looked bottom-ish enough that I think it probably is. It will be a struggle moving beyond last week, but it looks like the development community is serious about it.
Proudhon, may I ask what changed in two days to make you so bullish compared to two days ago?
One example:
No more single digits?
Maybe you bought some at $50 and now feels bad?
That would be epic for bitcointalk's most famous permabear
One example:
Quote from: proudhon
I'll keep posting these until everyone understands what it means. It answers the question in the thread title.
So, yes, lots of people know about bitcoin, but enough people who know about them and own some don't want them anymore. The ask depth on MtGox is the highest it's been in 6 months and is a little more than 5x what it was just before the crash. People were fooled into thinking the supply of bitcoins was low relative to the demand. It isn't. And over time we'll see the price reflect this fact as more and more people internalize it. We will see low double digits, and when people get sufficiently off-put by that, we'll see the price collapse into the single digits.
So, yes, lots of people know about bitcoin, but enough people who know about them and own some don't want them anymore. The ask depth on MtGox is the highest it's been in 6 months and is a little more than 5x what it was just before the crash. People were fooled into thinking the supply of bitcoins was low relative to the demand. It isn't. And over time we'll see the price reflect this fact as more and more people internalize it. We will see low double digits, and when people get sufficiently off-put by that, we'll see the price collapse into the single digits.
No more single digits?
Maybe you bought some at $50 and now feels bad?
That would be epic for bitcointalk's most famous permabear
Again, it'll be bumpy, but $50 is very likely the bottom. This bubble attracted the attention of people who can help build more resilient and professional markets and apps on top of the protocol. It'll be a few months before we useful products out of this, but it's coming.
I applaud Proudhon for being consistently contrarian and thus sowing DISCORD 
btw I have no idea if we've hit bottom, but I've bought some coins anyway.
btw I have no idea if we've hit bottom, but I've bought some coins anyway.
current results:
yes - I am fully (back) in BTC 33 (23.2%)
yes - but I wait for confirmation 23 (16.2%)
I don't know 26 (18.3%)
no - but I've bought some 11 (7.7%)
no 49 (34.5%)
Total Voters: 142
Current price 69 (down from above 80).
Sentiment slightly up - I wish I checked it when we were climbing to 80.
yes - I am fully (back) in BTC 33 (23.2%)
yes - but I wait for confirmation 23 (16.2%)
I don't know 26 (18.3%)
no - but I've bought some 11 (7.7%)
no 49 (34.5%)
Total Voters: 142
Current price 69 (down from above 80).
Sentiment slightly up - I wish I checked it when we were climbing to 80.
Looks like $50 will be the bottom.
Yes I am like all in.
According to observed financial bubbles in the past, and especially with 2011, the lowest point is lower than most people would have guessed beforehand.
I think we'll see $ 30 / BTC at least.
So many people are looking for $30 bitcoins that I don't think it will make it. It seems like every person I've seen on reddit is using that number, and plenty of people on here.
Also, people have to be willing to sell the BTC141k (much higher when accounting for people buying in as it drops) to get it there.
Attitudes change with mood. Buyer's mood will be different than today if we go down further. Uncertainty will spread. Before we will see Bitcoin going up (again) we will see capitulation of some perma-bulls. So below $ 30 is well possible.
How many Bitcoins are created per day? Is the number still 3600? If so the Bitcoin market still needs $200k+ of new money everyday just to keep Bitcoin stable at current price point.
Shhh don't start injecting reality to people they still think it is possible to go to $10,000. At $266 there needed to be $900,000 per day (someone else's calculation). This would explain why it topped out there.
no way. don´t forget all the cash that the smart guys who sold all the way down to present have piled up. the money that others lost is not gone - it just changed hands. those guys profited a lot. they will want to profit again. but they can only do so if they buy btc. they are all waiting....
I somehow doubt ASIC miners are selling much more than to just cover investment and power costs. You don't buy an ASIC if you're long term bearish on bitcoin so they are more than likely to be holding onto their coin.
At $266 there needed to be $900,000 per day (someone else's calculation). This would explain why it topped out there.
Really? So 700k per day was fine but 900k was too much? Or what's your explanation?
Nobody knows how much new money was being invested in bitcoins daily, hence the only way to know how high it could have gone was to push the price to the top and see where it breaks. Just what it did. Now, for a twist of that same data, if you realistically think there were at least 800k invested in bitcoin daily, that would mean at current price levels that 16,000 new coins should be sold daily, minus 3600 mined coins, means 12k new coins out of nowhere daily! So this low price of 50 is unsustainable!
Or I just used an arbitrary number tied to basic bitcoin statistic to prove my point.
I think we'll see $ 30 / BTC at least.
So many people are looking for $30 bitcoins that I don't think it will make it. It seems like every person I've seen on reddit is using that number, and plenty of people on here.
Also, people have to be willing to sell the BTC141k (much higher when accounting for people buying in as it drops) to get it there.
How many Bitcoins are created per day? Is the number still 3600? If so the Bitcoin market still needs $200k+ of new money everyday just to keep Bitcoin stable at current price point.
Shhh don't start injecting reality to people they still think it is possible to go to $10,000. At $266 there needed to be $900,000 per day (someone else's calculation). This would explain why it topped out there.
no way. don´t forget all the cash that the smart guys who sold all the way down to present have piled up. the money that others lost is not gone - it just changed hands. those guys profited a lot. they will want to profit again. but they can only do so if they buy btc. they are all waiting....
Further dip incoming, with some big players dumping 3-5k four-five times a day.Will cause more panic once $50 is breached.
I think we'll see $ 30 / BTC at least.
Looks like $50 will be the bottom.
Wow. Now i'm really worried. Time to sell?
the fundamentals (proudhon) have changed. does this mean it´s over ?
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