Topic: No rally? (Read 3101 times)

Nice necro.

One can palpate Bitcoin's Tension as strongly then as one can now.

This will be my only response to you directly. You frankly do not deserve even one, but I'm a nice guy.



I have two Ivy-League degrees. Many of my well-educated friends are bitcoin bulls. In my experience, the weakest minds tend to be the most dismissive, and see only the short-term.



The market self-corrects that overblown threat every time.



Your figures are just wrong. 200k Gox coins will be distributed to creditors, the 650k missing BTC is more than likely looong since sold.



Uh, Gabi, SecondMarket, Pantera... Furthermore, investment ebbs and flows.



Has been *expected* since the beginning. Read the threads from 2010. If anything, the response from nearly every government has been FAR less hostile than anyone anticipated.



I agree with your implication that the app-coins are probably not, as a set, good investments, but most are not scams in the sense that the founders set out to deceive.



And many of the spenders (like me), just re-buy the bitcoin we spend, pocketing the merchant discounts and enhanced transactional security in the process. Furthermore, the (exponential) network effect created by each incremental btc spent on a good or service vastly outweighs the fractional (linear) potential selling pressure on that btc.



Maybe. In which case more will be proposed. Eventually one gets through. Regardless, not really that important long-run. Bitcoin is simply better money and will slowly eat into commerce over time.


Maybe. Same comments as above.



More liquidity. More access to more people. More network effect. All incrementally good. Game-changer not needed.



That doesn't mean anything, like most of your posts.



I predict that you're going to disappear during bitcoin's next boom phase. I challenge you to post an email address or somewhere we can reach you when you quit this forum. It'll be nice to get back in touch. Until, then, goodbye.

don't find any excuses, why bitcoin is dropping so hard?

goxed,no one with a college degree will invest any serious sums into bitcoin after MTGOX fiasco, The market is currently only a playground for gamblers and fanatics
51% pool (easy came easy gone easy return)
crackers and governments and shit having 1200k coins(mtgox 200k, Ross Ulbricht 140k, crackers: 850k)
no new money
governments warning and banning
many scam IPOs including Ethereum and others
everyone is selling / spending
Dell / Expedia / Newegg / House dealer / etc are selling in real time
Winklevoss ETF will actually be shot down
GABI is already priced in
Dubai exchange won't create any thing new
etc..

Creepy the downtrend is also in September.

Summer effect?

Of course not forever. But I think many of us have always assumed a binary outcome; ie, a couple orders of magnitude higher than current prices (putting market-cap in range of M2 of sizable but not huge countries; eg, Poland, Sweden, etc), or a couple below (ie, $0ish). The arguments for some long-run stable intermediate state are weaker than for either binary outcome. Given that all core infrastructure metrics continue to point up, one has to look at the discussions-of-the-day as a long-run status-quo of mostly-shortsighted individuals trying to interpret current events; typically failing to incorporate any meaningful perspective whatsoever (despite the fact that the entire history of discussion is sitting right in front of them). Such is the nature of most people, I suppose.

Ha, nice find! I agree, but on the other hand: The growth can't continue forever! At some point we will have to reach at least some sort of saturation. And we don't really know when Bitcoin is overpriced and when it isn't! So we have to try and find out.

Funny how the same conversations keep happening here in Spec, year after year, rally after rally, crash after crash.

This one is from almost exactly 3yrs ago, at almost exactly one-hundredth of the current price.

Don't any of you newbies read the old threads??

Rally is on Tuesdays.

I lucked out as well, was asleep when the big drops happened.  If I wasn't I'd have been tempted to get back on board possibly wiping out yesterday's gains.

The good news is deepbit hashing power is mostly unaffected.  There are LOTS of bulls out there.  So IMO this isn't capitulation, plenty of "buying opportunities" await.

I was one of the lucky ones - I had staggered orders from $2 to $3, which were mostly hit on the way down, and I sold in the $2.75 range to end up about 10% on the day.  Then it rallied back over $3, and I stopped playing - WTF were those guys thinking?  Now I have staggered orders in the $1.50-$2.25 range, and I'm hoping for more panic selling, and a subsequent rebound.

I'm sure no one actually expected a rally after such a large drop.  A real rally, not the $2.26 -> $2.64 rally.  It's still a handy profit for the very few people who managed to catch it.

Right now bitcoin is a great day trading tool.  It's sadly not something I'd want to hold for more than a couple of days.  30% drop yesterday.  Yikes.

Didn't rally

the problem with the manipulator theory, is that if there are 2 such people who don't know each other and are in fact competing with each other, then they'll always try to 'pull the trigger' before the other one.

so selling 10,000 coins at 5.10 may have been in anticipation of someone else selling 10,000 coins at 5.11, destroying his opportunity to do so.

Technomage,

I said it before.  It's at a great low to buy but it will stagnate here for a very long time before it finally goes up to 5.50ish and stagnates there.

Once it rose to 5.10, The Manipulator sold 10,000 coins to force it back down.  Any real investor would've just waited for 5.50 or 6 knowing if it dips, it's still a low point they bought at so no worries.

There was a rally. We still haven't recovered from the negative sentiment and the general bad mood in the market. Also the peak hype hasn't completely recovered yet and the number of transactions in the economy hasn't either. This is why we're back down.

We are close to recovering though based on any indicator out there and the last rally was a good sign. But we need more good signs before we can actually talk about an uptrend. It will be a long and very bumpy road before we see a price significantly higher than the current one.

There's still nothing to be thrilled about regarding the short term or mid-term of Bitcoin, but I feel the long term is still very solid so I'm feeling positive overall.

I've thought of that before, and basically he'd need a twitter account for it.

Haha!
The Manipulator:"I'm going to move the market $.28 in about 10mins!"
Me: Sweet! I'm hopin' on!

I wish we could get The Manipulator to join these forums using that as his handle and make posts all the time, provided it's not a faker.

I have not seen the big money person throwing the price up and down. That was usually when people would jump in or out with a lot of trades.

Quite the speculator these days! lol

Good to hear you're feeling more confident in your market watching abilities!