The shakedown | Bitcointalksearch.org

ruski

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Quote from: befuddled on August 18, 2012, 10:14:31 PM

I am a true believer, willing to "sacrifice" for the cause.

Quote

Main Entry:    gullible
Part of Speech:    adjective
Definition:    naive, trusting
Synonyms:    being a sucker, believing, biting, credulous, easily taken in, easy mark, falling hook line and sinker, foolish, green*, innocent, kidding oneself, mark*, silly, simple, sucker , susceptible, swallowing whole, taken in, taking the bait, trustful, tumbling for, unskeptical, unsophisticated, unsuspecting, wide-eyed

befuddled

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Quote from: ElectricMucus on August 18, 2012, 07:17:46 PM

Buying the same amount would have resulted in greater profit.

Which would be true, except part of the cost was sunk. And irrelevant to the point, which is whether holding bitcoins long term in expectation of their appreciation is speculation or not. Which was the matter to which I was replying.

Quote from: ElectricMucus on August 18, 2012, 07:17:46 PM

There is nothing you can do about that since it is the truth

I am a true believer, willing to "sacrifice" for the cause.

Quote from: ElectricMucus on August 18, 2012, 07:17:46 PM

now get out please.

No you get out, please.

thezerg

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possibly he had already bought the mining equipment. At that point there is very little choice. Unless you think "dollar loss" means that operating expenses > BTC mined...

dree12

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Quote from: bitarrow on August 18, 2012, 07:22:17 PM

Quote from: dree12 on August 18, 2012, 07:19:06 PM

Quote from: befuddled on August 18, 2012, 05:48:55 PM

Quote from: phorensic on August 17, 2012, 03:55:50 PM

Quote from: wachtwoord on August 17, 2012, 03:54:29 PM

I never exchanged a Bitcoin for fiat in my life and don't plan to start now.

Then why are you in the speculation forum?

When I was mining for bitcoins at a dollar loss, and said I was saving them for the day when they were worth more, we were told we were speculating on the value of bitcoin. And now we're told holding them long term is not speculation. You haters make up your mind already why dontcha?

There is no reason to mine at a dollar loss unless it is for charity.

apparently it worked out for him

Buying would have worked out better. In this case, he squandered further profit, but in exchange helped to secure the network. To put yourself in a financial loss for a common good is considered charity.

bitarrow

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Quote from: dree12 on August 18, 2012, 07:19:06 PM

Quote from: befuddled on August 18, 2012, 05:48:55 PM

Quote from: phorensic on August 17, 2012, 03:55:50 PM

Quote from: wachtwoord on August 17, 2012, 03:54:29 PM

I never exchanged a Bitcoin for fiat in my life and don't plan to start now.

Then why are you in the speculation forum?

When I was mining for bitcoins at a dollar loss, and said I was saving them for the day when they were worth more, we were told we were speculating on the value of bitcoin. And now we're told holding them long term is not speculation. You haters make up your mind already why dontcha?

There is no reason to mine at a dollar loss unless it is for charity.

apparently it worked out for him

dree12

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Quote from: befuddled on August 18, 2012, 05:48:55 PM

Quote from: phorensic on August 17, 2012, 03:55:50 PM

Quote from: wachtwoord on August 17, 2012, 03:54:29 PM

I never exchanged a Bitcoin for fiat in my life and don't plan to start now.

Then why are you in the speculation forum?

When I was mining for bitcoins at a dollar loss, and said I was saving them for the day when they were worth more, we were told we were speculating on the value of bitcoin. And now we're told holding them long term is not speculation. You haters make up your mind already why dontcha?

There is no reason to mine at a dollar loss unless it is for charity.

ElectricMucus

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Marketing manager - GO MP

Quote from: befuddled on August 18, 2012, 05:48:55 PM

Quote from: phorensic on August 17, 2012, 03:55:50 PM

Quote from: wachtwoord on August 17, 2012, 03:54:29 PM

I never exchanged a Bitcoin for fiat in my life and don't plan to start now.

Then why are you in the speculation forum?

When I was mining for bitcoins at a dollar loss, and said I was saving them for the day when they were worth more, we were told we were speculating on the value of bitcoin. And now we're told holding them long term is not speculation. You haters make up your mind already why dontcha?

Buying the same amount would have resulted in greater profit. There is nothing you can do about that since it is the truth, now get out please.

thezerg

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Quote from: giszmo on August 17, 2012, 11:42:23 PM

Quote from: waspoza on August 17, 2012, 03:55:37 PM

Quote from: wachtwoord on August 17, 2012, 03:54:29 PM

I never exchanged a Bitcoin for fiat in my life and don't plan to start now.

Same here.

You are neither "all in" nor in the right forum. If you are all in, tell me how you pay your bills. If you speculate, you arbitrage other people's panic and lend your coins to panic buyers to buy them back from panic sellers.
Seams to me you two are pussies Wink

Certainly "all in" in this context means all the $ you have allocated for investment in bitcoin. If you put 100% of your net worth into this high risk investment to the point that a correction is going to put you out starving on the street you are a freakin' idiot :-).

Cheers!

befuddled

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Quote from: phorensic on August 17, 2012, 03:55:50 PM

Quote from: wachtwoord on August 17, 2012, 03:54:29 PM

I never exchanged a Bitcoin for fiat in my life and don't plan to start now.

Then why are you in the speculation forum?

When I was mining for bitcoins at a dollar loss, and said I was saving them for the day when they were worth more, we were told we were speculating on the value of bitcoin. And now we're told holding them long term is not speculation. You haters make up your mind already why dontcha?

wachtwoord

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Quote from: giszmo on August 17, 2012, 11:42:23 PM

Quote from: waspoza on August 17, 2012, 03:55:37 PM

Quote from: wachtwoord on August 17, 2012, 03:54:29 PM

I never exchanged a Bitcoin for fiat in my life and don't plan to start now.

Same here.

You are neither "all in" nor in the right forum. If you are all in, tell me how you pay your bills. If you speculate, you arbitrage other people's panic and lend your coins to panic buyers to buy them back from panic sellers.
Seams to me you two are pussies Wink

Where did I claim to be all in? I meant exactly what I said. I am a buy and hold investor and I wait for my investment to appreciate based on it rising to its actual value and the underlying Business (in this case the Bitcoin economy) growing. I think Bitcoin is my only invesment that is almost completely based on growth while my other investmets are maily value.

Speculating is a zero sum game. Enjoy yourselves hough

niko

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There is more to Bitcoin than bitcoins.

Quote from: Yuhfhrh on August 17, 2012, 05:42:05 PM

Quote from: adamstgBit on August 17, 2012, 05:40:30 PM

Quote from: Yuhfhrh on August 17, 2012, 03:56:35 PM

I'M FREAKIN' OUT GUYS !!!

you bought at 15, sold at 13, right?

Bought at 15, sold at 13.50, bought at 11, sold at 12.20 >.<

Think of it as paying the tuition.

chsados

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Quote from: giszmo on August 17, 2012, 11:42:23 PM

Quote from: waspoza on August 17, 2012, 03:55:37 PM

Quote from: wachtwoord on August 17, 2012, 03:54:29 PM

I never exchanged a Bitcoin for fiat in my life and don't plan to start now.

Same here.

You are neither "all in" nor in the right forum. If you are all in, tell me how you pay your bills. If you speculate, you arbitrage other people's panic and lend your coins to panic buyers to buy them back from panic sellers.
Seams to me you two are pussies Wink

Perhaps by "All in" these people meant all the money they can set aside while taking care of bills..... yes i know-thinking logically hurts!

giszmo

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WalletScrutiny.com

Quote from: waspoza on August 17, 2012, 03:55:37 PM

Quote from: wachtwoord on August 17, 2012, 03:54:29 PM

I never exchanged a Bitcoin for fiat in my life and don't plan to start now.

Same here.

You are neither "all in" nor in the right forum. If you are all in, tell me how you pay your bills. If you speculate, you arbitrage other people's panic and lend your coins to panic buyers to buy them back from panic sellers.
Seams to me you two are pussies Wink

Piper67

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If this is a pirate-induced shakedown, it makes sense that it should continue throughout the weekend. Assuming he's got the fiat on hand, he can keep dumping, then buying more on the way up. But, if some smart souls out there had sent their fiat to the exchanges in anticipation of the "weekend dip", it could end up being a costly proposition for pirates Grin

Fray

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Quote from: wachtwoord on August 17, 2012, 04:04:02 PM

Weeks? Investment horizons should be 10 years at the least, except if your old or dying. Markets are irrational, it takes a potentially long time for value and price to converge.

Forgot which forum you're in?

Yuhfhrh

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Quote from: adamstgBit on August 17, 2012, 05:40:30 PM

Quote from: Yuhfhrh on August 17, 2012, 03:56:35 PM

I'M FREAKIN' OUT GUYS !!!

you bought at 15, sold at 13, right?

Bought at 15, sold at 13.50, bought at 11, sold at 12.20 >.<

adamstgBit

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Trusted Bitcoiner

Quote from: Yuhfhrh on August 17, 2012, 03:56:35 PM

I'M FREAKIN' OUT GUYS !!!

you bought at 15, sold at 13, right?

notme

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Quote from: zby on August 17, 2012, 05:23:58 PM

My bet is that the real shakedown will be tomorrow.

Possibly. We may have another day or two of confidence busting before the uptrend resumes.

zby

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My bet is that the real shakedown will be tomorrow.

The-Real-Link

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For not being an economics expert, it seems that things will always naturally correct themselves, though. The sharp dip was surprising, but I figure that people are also seeing it as a great opportunity to pick up coins at a (relatively) low price not seen in the past month or two.

I'm not worried overall, but I can understand why a lot of newbies and general BTC fans would panic with this much of a price change so fast. Within but an hour or so it looks like it's almost cancelled itself out.

Topic: The shakedown (Read 3826 times)