Topic: The single digits believers thread - page 2. (Read 4550 times)

About the only time i see btc used as a currency is when ppl gladly overpay for things smiling all the while i paid in btc. I am rad!

Otherwise, gambling drugs gambling drugs.... Andddd rampant speculation.

Such a healthy situation. Btc cannot even beat western union yet for ease of transfering wealth in a usable form by laymen.

Down we go. Give it time.

Me? I sell this shit almost daily. Sucking usd out like a vacuum cleaner.

Looking at those charts and assuming the price follows the exact same pattern then the bottom would be at about $18. Less than $30 certainly, but not single digits

...I believe

Yup, and you can bet most of the people here saying "it's crashed, definitely time to buy now, it can only go up from here" have a $125 sell order sitting on MtGox.

To get back on topic, I speculate there is a small chance of the market overcorrecting and going down into single digits, before bouncing back to 15-20. I don't see how long term single digits are possible with the sheer amount of people who are saying "fuck it, I didn't buy/didn't sell/held too long last time, this time I'm gonna buy at the bottom and sell at $50 no matter what."

For good or for bad, $266 brought a whole lot more stupid into the bitcoin pool, now just waiting for the right time to make their easy money.

I own a grand total of .15 BTC, which is basically change from using it as a currency. I will never invest until the price has stayed within a 10% range for 3 months, that's my rule. I almost bought $5000 as play money when they are at $36, but then talked myself out of it and put it into equities. Time will tell whether I was a fool or a wise investor.

And the sellers continue to stack those coins up.  This is playing out exactly like last time.

I love ElectricMucus's Schrödinger's Cat signature, it sums up a lot.

In our macro reality you make what you want happen. I was skeptical when I got involved over 2 years ago so much so I refused to buy Bitcoin and thought if I can make some and test the economy without investing my cash it may have a chance, so I did it risk free only investing my time and ability. None the less over a long period I convinced myself this is the future. When my investment in knowledge [understanding economics and mining ] started to generate income I started to think there was a problem, and I looked for evidence to prove it.

Up until about 5 months ago I had every argument covered as to why we wouldn't stay in double digits, mainly my underlying driving motive was the economy isn't big enough, to support the price, and I still don't buy BitInstant argument that the exchange doesn't matter.

I changed my mind after reading an article someone linked to about the impending fiat collapse written before 2007 - can't find it sorry- the article made a good argument as to how scarcely could service as a store of wealth and I found it applied totally to Bitcoin.

Since then I realize Bitcoin with its fundamental problem in distribution and deflation, will primarily serve as a store of wealth and secondarily as a currency. More over a currency is the default should our growth backup economy provide to be indefinitely sustainable.

Given Schrödinger's Cat option I am open to many options the more knowledge you have the more likely one will be viable. So given we can't see the cat, you have to make a call and move on. I don't see anything to justify the single digits yet.

you've gotta be proudhoning me

Awww man, finally; Single Digits gets a thread of it's own! I am not a SD Believer, but am definitely a fan. I fear and am drawn to the idea of SD in the same way I am too post-apocalyptic fantasies. Some days I hold my Casacius coins and imagine a future where they are as worthless as Pogs.

I hope that day never comes (or do I?)

Great thread; hi proudhon! Single Digits or Bust!

A week ago, and even a day ago, I still didn't see it falling below the $30s.

When I saw this posted earlier today:

https://i.imgur.com/fZwy3xd.png

I completely reversed my position, starting around 114, on the way down to about 94.

Personally, I'd just as soon get it out of the way, so that a more sane, sustainable rally can resume.

Have my doubts but also my hopes:)

The Lag will bring down bitcoin to singularity, go check GOX lag 28 MINS and rising while bitcoin declining..

I don't "believe" in single digits since I realize everything is just a chance.

Single digits are a strong possibility now, hell even fractional digits are possible.

Low of $8.50 later on this summer/early fall.  The long slow slide has just begun

LOL

I lived enough years to know that nobody can predict the future of a market - it will do what it will do.

This was a mega bubble like the world has never experienced before and it is possible that just because of this fact by the time this correction is over - bitcoin price shall be less than 1$, less than 10 cents, etc.

It's possible!

For most of the crypto nerds - this is the first bubble that they are going through. Therefore they have no idea how all bubbles are the same - people are talking about how "this time it's different", newspapers and TV is full of this. And then after the bubble explodes - people still believe it's gonna be over real soon and soon we shall go over 250$. But a bubble is a vicious thing - after few days, it goes up again - and lurs people to believe that they are missing the train (the infamous "suckers rally") and that here it goes up up again.... and then comes the realization that it goes no where and it drops real fast. And the sentiment is going to be so negative then we could find bitcoin trading at 10-15$. Eventually, it goes down, down, down into oblivion. Long time after this forum is dead, after bitcoin is away from the main focus, after all is said and gone - you can buy it for 10 cents...

It's possible!

Life is so random that this scenario is possible and also the scenario according to which one bitcoin goes to 100,000$ is possible.

GotBitCoins.

I posted on another thread a possible scenario


Single digits to be followed by six digits is actually possible with Bitcoin.

I don't think so either.

Alright, my apologies. I saw 41 posts and assumed you were a green newcomer that just discovered BTC is risky.

i watch bitcoin for about 2 years now, i bought some when bubble started and sold them before it crashed with big profit. what actually makes you think i am ignorant?

you're assuming "people" are as ignorant as you, and bought in without having done any research on their new investment. some, but I shudder for humanity to think all would have done that.

Besides, what generally happens when people buy into something and get burned is they either sell and forget it, or hold, wait in hope for a recovery, and do their due diligence on it in the meantime. Anyone who does the latter is going to remain, I'd say.