Topic: Most Bitcoin speculators are at the 'denial' stage of the crash - page 2. (Read 13036 times)

There's not likely to be an upswing at the end.  When a company's stock goes low enough, it may be worth buying if they have production capacity and a market.  A company may become profitable when its capital costs decline.  Or at least it may be able to cover its operating costs. (Venture capitalists call this "zombie mode", where a startup can't possibly pay back its investors but can cover its operating expenses.  Companies can limp along in zombie mode for years.)

But Bitcoin generates no revenue. It's a pure speculation, a pyramid scheme, really,  In the end, it will go to 0.

Anyone who bought near the top is in the depression stage ATM IMO 

Oh I'm waaay past the denial, panic and desperation stage... I'm in the zen "watching the crazy world go by and laughing" stage right now...

lol love this graph. Yes must continue to include it in my speculation analysis...

Entered the 'Fear' stage now, desperation coming up soon

how do you define longterm? 6 months , a year, ten years, a hundred years, a thousand years???

please be more precise

That is still significantly more than the few cents it was just a few months ago. When i say long term i really mean LONG term.

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i agree i think that graph is epic lol

but i know its wrong!

I think that graph is epic. I decided to post something constructive instead of blatantly trolling the forums.

If you look hard enough you might be able to find a car for about the value of 20 BTC today, maybe even one that runs. 

WRONG! 3 cars.

I could have sold it all off at 30 and been quite happy with the huge return, BUT I believe in the principle of bitcoin. Its an awesome idea and I will take a loss to support such a fantastic opportunity of economic freedom.

There are three classes of bitcoin investors; (disclaimer) I don't know how much research has been done into this, I have done none and am going to make up numbers.

Bitcoin early adopter / fan boys.  Most of the wealth (and many of the people.. I have not been watching the board numbers, but if IRC is any indication..) in the forum probably fall into this category; they think BTC is hot sexiness that the world needs and this implementation has a good shot.  Most of the wealth here has been from mining, early entrepreneurial endeavors, and to a lesser extent early cash investments.  Despite the BTC epic fall from 31; most of these people are in the BLACK.

Bitcoin recent adopters, regular people.  These people more likely didn't hear about bitcoin until more recently (deep into the 4->31 rally), or didn't immediately "get" bitcoin when they did hear about it.  They have thrown more cash in, and their mining efforts have paid off less.  A lot of this money came in when bitcoin was rallying above 10, thus most of these people are in the RED.

Fat cats / Govt Money.  I can only speculate that the govt has bought a fair number of bitcoins; throwing a couple million bucks at something is nothing to them, and it would be silly not to have some of these at their disposal.  Maybe not though.  What definitely happened though, is that people who don't give two shits about bitcoin saw an amazing market; counted up total supply (<7M !!) and saw a good buy.   This is primarily what caused the rally (and will inevitably cause the next).  Smart managers made good money on this rally; but inevitably a lot of these firms/rich people lost money as well.  Since they don't "get" bitcoin and only see a falling market, these are the most likely panic sellers, etc.  Take the loss and move on; without a deep understanding and faith in bitcoin, this is the rational mode of action I imagine these firms to be taking.



The 2nd and third groups are probably past or in the 'panic' stage.  The first group, you're probably right, is in the denial stage.  That being said the people who "get" bitcoin probably believe bitcoin will be >31 USD again in the not too distant future.  I think they are right; but time will tell.

Long term it's going down, so I'm not being a pessimist, I'm being a realist.

$9.30 at the moment and getting close to that $9 wall that inevitably disappears as the price approaches that level.  Bitcoin has been in a slide since the $30 intra day high several months ago.  I have yet to see anything that would cause that trend to reverse.

Its often been said that bitcoin's price goes down on weekends.  We've had one hell of a long weekend so far.

Long term it's only going up, so i'm not being optimist, i'm being realist.

It exactly describes the Oldminer school of speculation:

That's what 'day traders' seem to do every day. It notches down a bit and you sell everything.

The volume charts don't lie, it must be in some perverse, distorted way, be profitable since everyone is doing it.
(Or people really have nerves of.. Tin wire)

I'd say we are in capitulation...cuz we just had the panic

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