Topic: The time to buy is when there's blood in the streets. (Read 3087 times)
our UNO pool has been very active today! 21 blocks found today alone.. whats going on?!
holding..holding...holding....
bitcoin constipation....
no to diarrhea ....of my bitcoin ..seeya
holding holding holding
(singing the above ditty helps me...I am slowly losing it at sub 400 usd don't ya know)
bitcoin constipation....
no to diarrhea ....of my bitcoin ..seeya
holding holding holding
(singing the above ditty helps me...I am slowly losing it at sub 400 usd don't ya know)
Baron Rothschild, an 18th century British nobleman and member of the Rothschild banking family, is credited with saying that "The time to buy is when there's blood in the streets."
everyone was waiting for the buying opportunity, well there you have it.
the only form of money better than gold in the last 3000 years is on sale at the same time as the entire world uses a paper money system that has never worked in the past,
if you don't see the stars aligning you don't deserve to be rich.
everyone was waiting for the buying opportunity, well there you have it.
the only form of money better than gold in the last 3000 years is on sale at the same time as the entire world uses a paper money system that has never worked in the past,
if you don't see the stars aligning you don't deserve to be rich.
Unfortunately for you, there is not much blood in the streets right now. Most people are still at massive profits at these prices.
That's the greater fool theory in action. Should had bought bitcoin when it was fraction of a cent or cents. Many of those people bought and forgot they had Bitcoin until it was all over the news in November and they've been dumping since.
A comparison to 2011
For context, it took us 20 months following the 2011 $32 high for that price to be surpassed. Giving investors back then the benefit of the doubt, let's assume that most didn't go all in at $32, say they averaged at around $16. If that was the case, it actually still took 18 months just for them to get back above THAT level after it dropped below it. So, let's provide an even more optimistic estimate. Say they dollar cost averaged down in equal amounts from $32 to $2 (June 2011 to November 2011). Their break even exchange rate might have been around $10. Even then, they'd still have had to wait around 13 months after the $32 peak just to break even.
Putting that into today's context, with our ATH on Bitstamp of 1163, the relative bottom this time around would've been around $73, and we've only gotten down to the $340 range! This brings me to another key difference regarding this time around.
Like I said, we haven't even gotten close to such a relative low of $73, and that is a double edged sword. While people haven't lost as much money on the way down up to this point as they would have if it had dropped to $73, they also haven't had the opportunity to buy in as low, to accelerate their process of breaking even, assuming that they do still think the long term trend is up.
This time around, say you dollar cost averaged, by buying in with the same amount of dollars, at equal intervals, all the way down from $1163 to $338. Your break even point might now be around $655. In a relative sense, that break even point is much closer to $1163 than, say, $10 was to $32 back in 2011. Back then, it would've been like having your break even exchange rate at around $18. Keep in mind that that a price of $18 wasn't crossed again for 19 months out from the high of $32.
So, we're currently only 10 months out from the ATH. Say the same sort of situation comes to pass. Could you really hold out eight more months just to break even? I'm personally all about holding (and my personal break even exchange rate is lower than that $655 figure) but I could foresee a bunch of people having to tap out if it really takes that long this time around.
For context, it took us 20 months following the 2011 $32 high for that price to be surpassed. Giving investors back then the benefit of the doubt, let's assume that most didn't go all in at $32, say they averaged at around $16. If that was the case, it actually still took 18 months just for them to get back above THAT level after it dropped below it. So, let's provide an even more optimistic estimate. Say they dollar cost averaged down in equal amounts from $32 to $2 (June 2011 to November 2011). Their break even exchange rate might have been around $10. Even then, they'd still have had to wait around 13 months after the $32 peak just to break even.
Putting that into today's context, with our ATH on Bitstamp of 1163, the relative bottom this time around would've been around $73, and we've only gotten down to the $340 range! This brings me to another key difference regarding this time around.
Like I said, we haven't even gotten close to such a relative low of $73, and that is a double edged sword. While people haven't lost as much money on the way down up to this point as they would have if it had dropped to $73, they also haven't had the opportunity to buy in as low, to accelerate their process of breaking even, assuming that they do still think the long term trend is up.
This time around, say you dollar cost averaged, by buying in with the same amount of dollars, at equal intervals, all the way down from $1163 to $338. Your break even point might now be around $655. In a relative sense, that break even point is much closer to $1163 than, say, $10 was to $32 back in 2011. Back then, it would've been like having your break even exchange rate at around $18. Keep in mind that that a price of $18 wasn't crossed again for 19 months out from the high of $32.
So, we're currently only 10 months out from the ATH. Say the same sort of situation comes to pass. Could you really hold out eight more months just to break even? I'm personally all about holding (and my personal break even exchange rate is lower than that $655 figure) but I could foresee a bunch of people having to tap out if it really takes that long this time around.
This aint bloody enough yet. Capitulation only started
+1
$200?
We're entering lows again. But the truth is, we've hit similar lows recently again. This makes me think that there is potential for the price to either stay low for quite a period this time or go down even further.
There's no blood in the streets until we're well below $1. That's when all the weak hands are shaken out. That's when strong hands take over and drive the price up to 10k in less than a week. To the moon!
You are still in 2011....or earlier.
Highly doubt we will see sub $200
Quote
Obvious troll is obvious. Yes, the finest form of currency every created, which vanishes without a trace if you don't enable 2FA or your hard drive crashes.
The security factor is one of the biggest hurdles for bitcoin, absolutely. But, that doesn't take away from the fact that the technology is innovative and a breakthrough.
Potentially the security aspect will be solved (or at least made easier for the masses) and then you are left with a fine form of currency.
There's no blood in the streets until we're well below $1. That's when all the weak hands are shaken out. That's when strong hands take over and drive the price up to 10k in less than a week. To the moon!
The time to buy is.... Always.
What I wonder is what this is doing for the miners. The costs is stupid crazy to get any kind of equipment to mine now a days, so the return rate.... is there even a return rate at these prices?
The miners are more delusional than the turbo-bull/bears of the speculation forum. They're still dumping oodles of money on HW that, for all reasonable calculations, show a loss when considering the purchase price alone. No need to even add the overhead of powering, housing, or maintaining the equipment. The only "miners" in a position to make profit are the HW manufacturers and their private mines. Some of them causing the very selling pressure we've been experiencing for the last couple of months.
IMO the tides (market trend) won't turn in any drastic way until the profit made per coin is far outweighed by the cost to mine a coin.
Totally agree....at this point consider the people mining to be completely "irrational actors"....and regard them as such.
They are stubbornly overshooting the demand for mining to the point of their own demise...somehow dreaming of better days in the future when this all pays off for them.
The blood hasn't started to flow.........
.......yet.
.......yet.
the best form of money in the world is on sale, don't be left on the paper titanic when it sinks.
now is the opportunity for freedom!
now is the opportunity for freedom!
What I wonder is what this is doing for the miners. The costs is stupid crazy to get any kind of equipment to mine now a days, so the return rate.... is there even a return rate at these prices?
The miners are more delusional than the turbo-bull/bears of the speculation forum. They're still dumping oodles of money on HW that, for all reasonable calculations, show a loss when considering the purchase price alone. No need to even add the overhead of powering, housing, or maintaining the equipment. The only "miners" in a position to make profit are the HW manufacturers and their private mines. Some of them causing the very selling pressure we've been experiencing for the last couple of months.
IMO the tides (market trend) won't turn in any drastic way until the profit made per coin is far outweighed by the cost to mine a coin.
Baron Rothschild, an 18th century British nobleman and member of the Rothschild banking family, is credited with saying that "The time to buy is when there's blood in the streets."
Buying or selling cryptos in the 21st century based on what a banker said 300 years ago... There must be an oxymoron in there somewhere...
Meh. New technology or not, the bitcoin market is subject to the same sort of psychology and market forces as any other market. If you have experience trading this market, "blood in the streets" is usually a pretty solid indicator.
Baron Rothschild, an 18th century British nobleman and member of the Rothschild banking family, is credited with saying that "The time to buy is when there's blood in the streets."
Buying or selling cryptos in the 21st century based on what a banker said 300 years ago... There must be an oxymoron in there somewhere...
vanishes without a trace if you don't enable 2FA or your hard drive crashes.
Never heard of paper wallets?
Troll fail. Try again.
what does price have to do with venture capital? are you not aware what that term means?
Baron Rothschild, an 18th century British nobleman and member of the Rothschild banking family, is credited with saying that "The time to buy is when there's blood in the streets."
everyone was waiting for the buying opportunity, well there you have it.
the only form of money better than gold in the last 3000 years is on sale at the same time as the entire world uses a paper money system that has never worked in the past,
if you don't see the stars aligning you don't deserve to be rich.
Except he wasn't talking about cryptoshits.everyone was waiting for the buying opportunity, well there you have it.
the only form of money better than gold in the last 3000 years is on sale at the same time as the entire world uses a paper money system that has never worked in the past,
if you don't see the stars aligning you don't deserve to be rich.
I think the Exxon buyers who followed his advice are really happy now, right?
Think of what you are saying. It's $418 now, CHEAP, go buy! Go buy, GO!
You won't, because deep inside you know it's a scam destined to fall to $100 and more.
bitcoin is not a scam, its the best form of money humans ever had, for the first time ever beating precious metals.
Yes, it is a scam. Nobody cares about bitcoin as a currency, everyone is in just to get more dollars later. It's basically a tool for wealth transfer from those who buy low and sell high and those who do the opposite.
Bitcoin doesn't gain or produce any additional capital, entire market cap is just a speculators' money. But in order for someone to profit, someone else needs to lose. And without new suckers pouring in the fresh capital, it is not sustainable and bound to drop due to increasing supply, and decreasing faith in it and dumping.
so 100 million dollars in VC being put in in the last 6 months is nothing? are you retarded? (rhetorical question; you are)
Baron Rothschild, an 18th century British nobleman and member of the Rothschild banking family, is credited with saying that "The time to buy is when there's blood in the streets."
everyone was waiting for the buying opportunity, well there you have it.
the only form of money better than gold in the last 3000 years is on sale at the same time as the entire world uses a paper money system that has never worked in the past,
if you don't see the stars aligning you don't deserve to be rich.
Except he wasn't talking about cryptoshits.everyone was waiting for the buying opportunity, well there you have it.
the only form of money better than gold in the last 3000 years is on sale at the same time as the entire world uses a paper money system that has never worked in the past,
if you don't see the stars aligning you don't deserve to be rich.
I think the Exxon buyers who followed his advice are really happy now, right?
Think of what you are saying. It's $418 now, CHEAP, go buy! Go buy, GO!
You won't, because deep inside you know it's a scam destined to fall to $100 and more.
bitcoin is not a scam, its the best form of money humans ever had, for the first time ever beating precious metals.
Yes, it is a scam. Nobody cares about bitcoin as a currency, everyone is in just to get more dollars later. It's basically a tool for wealth transfer from those who buy low and sell high and those who do the opposite.
Bitcoin doesn't gain or produce any additional capital, entire market cap is just a speculators' money. But in order for someone to profit, someone else needs to lose. And without new suckers pouring in the fresh capital, it is not sustainable and bound to drop due to increasing supply, and decreasing faith in it and dumping.
so 100 million dollars in VC being put in in the last 6 months is nothing? are you retarded? (rhetorical question; you are)
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