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Topic: US media frenzy hasn't even begun yet (Read 4679 times)

legendary
Activity: 1176
Merit: 1005
October 23, 2013, 08:05:31 PM
#52
I disagree. I think it WAS a runaway speculative bubble that burst. But you're right, Bitcoin is seriously undervalued. It's just that when growth is too fast, we have to correct to a more reasonable level before continuing to grow.

While the term has negative connotations, all a "bubble" denotes is simply a period of expansion followed by a rapid contraction.  One can determine that somewhat objectively by simply looking at a graph.

If this doesn't look like a rapid contraction to anyone, they need their eyes or their head examined:



I certainly wouldn't mind putting "bubble" in quotes, because the price of BTC generally settles far above where it was when the "bubble" started, but still well below the peak price, and generally slowly increases in price after that before another cycle.
hero member
Activity: 898
Merit: 1000
October 23, 2013, 06:32:59 PM
#51
You're wrong. There hasn't been any "contraction" in Bitcoin. There has been only exponential growth so far.

So the price has never, ever gone down.  It's just been a straight line upward at all times.  Okay.  Got that.

Nice name.

It's not about the price but about growth (either positive or negative). Bitcoin's growth never stopped but expanded exponentially. "The Market is always wrong" when it comes to putting fair valuations.

The fluctuations in Bitcoin price are irrelevant as the Bitcoin ecosystem kept growing exponentially. The growth of the ecosystem itself never experienced a sudden drop like that price drop from 2xx to 5x.  

Many offer the "tulip mania" example when it comes to bubbles but thing is there never was a real demand to justify that tulip price, unlike with Bitcoin.

A real bubble is created when price becomes totally disconnected from the reality on the ground. Bitcoin is currently undervalued thus talking about bubbles is retarded.

I disagree. It WAS a runaway speculative bubble that burst. But you're right, Bitcoin is seriously undervalued. It's just that when growth is too fast, we have to correct to a more reasonable level before continuing to grow.
member
Activity: 93
Merit: 10
October 23, 2013, 04:15:29 PM
#50
You're wrong. There hasn't been any "contraction" in Bitcoin. There has been only exponential growth so far.

So the price has never, ever gone down.  It's just been a straight line upward at all times.  Okay.  Got that.

Nice name.

It's not about the price but about growth (either positive or negative). Bitcoin's growth never stopped but expanded exponentially. "The Market is always wrong" when it comes to putting fair valuations.

The fluctuations in Bitcoin price are irrelevant as the Bitcoin ecosystem kept growing exponentially. The growth of the ecosystem itself never experienced a sudden drop like that price drop from 2xx to 5x.  

Many offer the "tulip mania" example when it comes to bubbles but thing is there never was a real demand to justify that tulip price, unlike with Bitcoin.

A real bubble is created when price becomes totally disconnected from the reality on the ground. Bitcoin is currently undervalued thus talking about bubbles is retarded.

very good said.
legendary
Activity: 1400
Merit: 1005
October 23, 2013, 03:55:25 PM
#49
Didn't you get it? The last 6 month was one giant bear trap.

I should probably figure out what bear trap and bull trap mean.


Google wasn't very helpful, was it?
legendary
Activity: 1400
Merit: 1005
October 23, 2013, 03:01:59 PM
#48
Didn't you get it? The last 6 month was one giant bear trap.

I should probably figure out what bear trap and bull trap mean.
sr. member
Activity: 294
Merit: 250
October 23, 2013, 02:57:14 PM
#47
Didn't you get it? The last 6 month was one giant bear trap.


Shhhh! I'm not done buying yet.
hero member
Activity: 924
Merit: 1000
October 23, 2013, 02:54:25 PM
#46
Didn't you get it? The last 6 month was one giant bear trap.

legendary
Activity: 2338
Merit: 2106
October 23, 2013, 02:44:50 PM
#45
Didn't you get it? The last 6 month was one giant bear trap.


epic
sr. member
Activity: 294
Merit: 250
October 23, 2013, 02:36:04 PM
#44
You're wrong. There hasn't been any "contraction" in Bitcoin. There has been only exponential growth so far.

So the price has never, ever gone down.  It's just been a straight line upward at all times.  Okay.  Got that.

Nice name.

It's not about the price but about growth (either positive or negative). Bitcoin's growth never stopped but expanded exponentially. "The Market is always wrong" when it comes to putting fair valuations.

The fluctuations in Bitcoin price are irrelevant as the Bitcoin ecosystem kept growing exponentially. The growth of the ecosystem itself never experienced a sudden drop like that price drop from 2xx to 5x.  

Many offer the "tulip mania" example when it comes to bubbles but thing is there never was a real demand to justify that tulip price, unlike with Bitcoin.

A real bubble is created when price becomes totally disconnected from the reality on the ground. Bitcoin is currently undervalued thus talking about bubbles is retarded.
legendary
Activity: 896
Merit: 1000
October 23, 2013, 01:54:24 PM
#43
Didn't you get it? The last 6 month was one giant bear trap.


Those are scary statements you are making. Please say the opposite to appease me.
legendary
Activity: 1176
Merit: 1005
October 23, 2013, 01:46:57 PM
#42
You're wrong. There hasn't been any "contraction" in Bitcoin. There has been only exponential growth so far.

So the price has never, ever gone down.  It's just been a straight line upward at all times.  Okay.  Got that.

Nice name.
sr. member
Activity: 294
Merit: 250
October 23, 2013, 01:14:45 PM
#41
This forum is full of cheap dilettantes who don't understand the meaning of the word "bubble" and throw it around with the ease of taking a quick piss.

Just have a look at the stock of Microsoft or Google or 3D Systems and notice the growth they've experienced.

Do you know where price of Microsoft stock should be hadn't been for all the stock splits?

Quote
Microsoft has split its stock nines times since it went public back in March 1986. Put very, very simply, a company will generally split its stock when its share price becomes too high.

Since Microsoft has had six 2-for-1 splits and three 3-for-1 splits, one original Microsoft share would now be equal to 288 shares today. Interestingly the price of Microsoft's stock at its initial public offering was $21 a share, at the time of writing a share is now around the $23 mark. One original MSFT share would now be worth over $6,000.
http://mashable.com/2010/07/17/microsoft-facts/ This was 2010 info where MSFT was $23/share. Price now is much higher.

So please take that bubble retarded mediocre talk somewhere else. Mainstream media uses this BS "bubble" a lot to describe Bitcoin. I don't need to hear same BS idiocy of infantile twats on this forum also.

Growth is not synonymous with bubble!

It is when it's followed by a crash. The market behavior we have seen pretty much fits the textbook definition.

Definition of 'Bubble'

1. An economic cycle characterized by rapid expansion followed by a contraction.

You're wrong. There hasn't been any "contraction" in Bitcoin. There has been only exponential growth so far.
legendary
Activity: 1176
Merit: 1005
October 23, 2013, 09:08:41 AM
#40
When I hear the talking heads talk about bitcoin, all I hear is this from Newsweek 1995:

Nice. That was written by Clifford Stoll too, http://boingboing.net/2010/02/26/curmudgeony-essay-on.html#comment-723356 - he wrote The Cuckoo's Egg which I enjoyed reading ~10 years ago. Details how he tracked a hacker in the 80s who broke into one of the national labs.

I despised him even back when that book came out.  He actually uncovered the CCC's actions because of his obsession with a $0.75 accounting discrepancy, that ultimately led to the evidence of the intrusions.  Okay, I have to admit that level of attention to detail does display a certain brilliance, but not the sort of brilliance anyone would want at a party.  And despite a great deal of technical skill, he so totally failed to get the Internet and its culture even then, back in the late '80s, that he was basically the symbol of everything I hated.  (It didn't help that I was on the wrong side of the law myself at that time and he was the self-appointed king of Internet cops.)

So when he said that abjectly idiotic shit in Newsweek, I was really not at all surprised.  That was exactly the kind of lame shit he was practically addicted to saying.  He didn't understand Internet culture, so he despised it.  What a surprise.  He still doesn't.
hero member
Activity: 900
Merit: 1014
advocate of a cryptographic attack on the globe
October 23, 2013, 05:25:58 AM
#39
When I hear the talking heads talk about bitcoin, all I hear is this from Newsweek 1995:

Nice. That was written by Clifford Stoll too, http://boingboing.net/2010/02/26/curmudgeony-essay-on.html#comment-723356 - he wrote The Cuckoo's Egg which I enjoyed reading ~10 years ago. Details how he tracked a hacker in the 80s who broke into one of the national labs.
full member
Activity: 219
Merit: 106
October 23, 2013, 04:50:46 AM
#38
This forum is full of cheap dilettantes who don't understand the meaning of the word "bubble" and throw it around with the ease of taking a quick piss.

Just have a look at the stock of Microsoft or Google or 3D Systems and notice the growth they've experienced.

Do you know where price of Microsoft stock should be hadn't been for all the stock splits?

Quote
Microsoft has split its stock nines times since it went public back in March 1986. Put very, very simply, a company will generally split its stock when its share price becomes too high.

Since Microsoft has had six 2-for-1 splits and three 3-for-1 splits, one original Microsoft share would now be equal to 288 shares today. Interestingly the price of Microsoft's stock at its initial public offering was $21 a share, at the time of writing a share is now around the $23 mark. One original MSFT share would now be worth over $6,000.
http://mashable.com/2010/07/17/microsoft-facts/ This was 2010 info where MSFT was $23/share. Price now is much higher.

So please take that bubble retarded mediocre talk somewhere else. Mainstream media uses this BS "bubble" a lot to describe Bitcoin. I don't need to hear same BS idiocy of infantile twats on this forum also.

Growth is not synonymous with bubble!

It is when it's followed by a crash. The market behavior we have seen pretty much fits the textbook definition.

Definition of 'Bubble'

1. An economic cycle characterized by rapid expansion followed by a contraction.
full member
Activity: 154
Merit: 100
Johnny Bitcoinseed
October 23, 2013, 12:24:42 AM
#37
If bitcoin survives, the general trend will likely be up as people and businesses come on board.  The whole concept is very new to the vast majority of people, also known as the "herd".  The herd is skittish because they are unsure.  They bolt at the slightest provocation.  Over time the wild swings will likely smooth out much as most stable currencies.

IMHO, if bitcoin lasts then even buying at this most recent top will eventually pay off.

One strategy is to set aside X-number of dollars every week (an amount you can afford to loose, NOT your lunch money) and exchange it for whatever bitcoin the going rate allows.  This averages everything out.  In the long run good returns result while greatly simplifying efforts.

By "long run" I don't mean a week or a month or two.  Several years and more.  One day you may be quite pleased with the results.
sr. member
Activity: 294
Merit: 250
This bull will try to shake you off. Hold tight!
October 22, 2013, 11:18:24 PM
#36
Great article about the internet indeed Smiley
sr. member
Activity: 448
Merit: 250
October 22, 2013, 08:57:41 PM
#35
All I know is the folks who bought at the top of the $32 bubble are in pretty good shape right now.

Will the folks who bought at the top of the $266 bubble be in good shape in a year or two? Well, I'm not as confident as Men's Wearhouse... but I am strongly convinced of it.
legendary
Activity: 1988
Merit: 1012
Beyond Imagination
October 22, 2013, 06:57:46 PM
#34
They will understand that this is a totally different beast, it has never existed in human history: A money with fixed limited supply but have a global instant reach.

And their projection of the price development will also have to readjust: A 100% rise / year against fiat money is a minimal performance, 10x rise is a normal performance, and 100x rise in a year when in good mood  Smiley

I think $1000 is possible if it break through ATH. All it takes is just sellers hold their coins to send the price to moon, and many traders here indeed will do so when the time comes
legendary
Activity: 1133
Merit: 1163
Imposition of ORder = Escalation of Chaos
October 22, 2013, 05:20:49 PM
#33
When I hear the talking heads talk about bitcoin, all I hear is this from Newsweek 1995:

The Internet? Bah!
Hype alert: Why cyberspace isn’t, and will never be, nirvana

After two decades online, I’m perplexed. It’s not that I haven’t had a gas of a good time on the Internet. I’ve met great people and even caught a hacker or two. But today, I’m uneasy about this most trendy and oversold community. Visionaries see a future of telecommuting workers, interactive libraries and multimedia classrooms. They speak of electronic town meetings and virtual communities. Commerce and business will shift from offices and malls to networks and modems. And the freedom of digital networks will make government more democratic.Baloney.

Do our computer pundits lack all common sense? The truth in no online database will replace your daily newspaper, no CD-ROM can take the place of a competent teacher and no computer network will change the way government works.

Consider today’s online world. The Usenet, a worldwide bulletin board, allows anyone to post messages across the nation. Your word gets out, leapfrogging editors and publishers. Every voice can be heard cheaply and instantly. The result? Every voice is heard. The cacophany more closely resembles citizens band radio, complete with handles, harrasment, and anonymous threats. When most everyone shouts, few listen. How about electronic publishing? Try reading a book on disc. At best, it’s an unpleasant chore: the myopic glow of a clunky computer replaces the friendly pages of a book. And you can’t tote that laptop to the beach. Yet Nicholas Negroponte, director of the MIT Media Lab, predicts that we’ll soon buy books and newspapers straight over the Intenet. Uh, sure.

What the Internet hucksters won’t tell you is tht the Internet is one big ocean of unedited data, without any pretense of completeness. Lacking editors, reviewers or critics, the Internet has become a wasteland of unfiltered data. You don’t know what to ignore and what’s worth reading. Logged onto the World Wide Web, I hunt for the date of the Battle of Trafalgar. Hundreds of files show up, and it takes 15 minutes to unravel them–one’s a biography written by an eighth grader, the second is a computer game that doesn’t work and the third is an image of a London monument. None answers my question, and my search is periodically interrupted by messages like, “Too many connectios, try again later.”

Won’t the Internet be useful in governing? Internet addicts clamor for government reports. But when Andy Spano ran for county executive in Westchester County, N.Y., he put every press release and position paper onto a bulletin board. In that affluent county, with plenty of computer companies, how many voters logged in? Fewer than 30. Not a good omen.

Point and click:Then there are those pushing computers into schools. We’re told that multimedia will make schoolwork easy and fun. Students will happily learn from animated characters while taught by expertly tailored software.Who needs teachers when you’ve got computer-aided education? Bah. These expensive toys are difficult to use in classrooms and require extensive teacher training. Sure, kids love videogames–but think of your own experience: can you recall even one educational filmstrip of decades past? I’ll bet you remember the two or three great teachers who made a difference in your life.

Then there’s cyberbusiness. We’re promised instant catalog shopping–just point and click for great deals. We’ll order airline tickets over the network, make restaurant reservations and negotiate sales contracts. Stores will become obselete. So how come my local mall does more business in an afternoon than the entire Internet handles in a month? Even if there were a trustworthy way to send money over the Internet–which there isn’t–the network is missing a most essential ingredient of capitalism: salespeople.

What’s missing from this electronic wonderland? Human contact. Discount the fawning techno-burble about virtual communities. Computers and networks isolate us from one another. A network chat line is a limp substitute for meeting friends over coffee. No interactive multimedia display comes close to the excitement of a live concert. And who’d prefer cybersex to the real thing? While the Internet beckons brightly, seductively flashing an icon of knowledge-as-power, this nonplace lures us to surrender our time on earth. A poor substitute it is, this virtual reality where frustration is legion and where–in the holy names of Education and Progress–important aspects of human interactions are relentlessly devalued.

Thanks for this! Almost reads like a parody...certainly helps with being able to laugh at todays smug fools Cheesy
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