Topic: US media frenzy hasn't even begun yet - page 2. (Read 4679 times)

great article. should be included in any textbook, page 1

my strategy (and i think its best for most people) is just buy. When price drops - buy even more to average the price. And you have a life and don't need to sit here 24h/day watching graphs and pulling your hairs out of head when you have another missed trade.

Yes.  It is better to buy "high" and not regret it then to hope the price goes lower and lose the opportunity.  That is my thinking anyways.

Bitcoin seems to have a mind of it's own.  It is tricky to predict it's movement.  If we are confident that the price is going to rise to higher levels at any point then just buy and hold.  That seems like the lowest risk move of all.  Granted, it would be nice to take advantage of the peaks and valleys but it is not as easy to do as it sounds.

perhaps. but it's important to note that these exponential gains will not last forever. the question is, at what magnitude? you say $70 is a rounding error in a few years... we will see.

Unfortunately many of these people were calling it overpriced when it was $15, and some still believe that we are heading back down to those levels. You could laugh at them now, but they will still be trumpeting the coming collapse if bitcoin hits $1000, or $10000. Actually, even more so if it hits those prices. At the end of the day what will hurt most, is that they were here, part of this community, when they had a chance to be among the earliest adopters and instead they blew their opportunity.

Suppose it had just gone up 65% in two weeks...to $20. I think people either see the long-term potential or they don't. If they see it, they know the difference between $13 and $20 (or $130 and $200) is going to look like a rounding error in a few years, as we now view the difference between $0.06 and $0.10.

I think I do understand what you are saying. You are suggesting that the risk at this point might not be worth the reward. There appear to be plenty willing to take the other side of that bet. It could be $1000 in two weeks, and anyone buying today @ $200 is a genius. It could also be @ $50, and those who held their $$$ were geniuses. Only time will tell whether you or they have a better assessment of the risk/reward equation.

that's not what i was saying. any investment involves risk. the point is one should do a risk/reward analysis before buying -- especially if expecting short-term gains, as most green investors do -- instead of simply listening to this "buy buy buy" after bitcoin is up like 60% in 2.5 weeks.

If you wait until it is safe you will make nothing. Risk = reward.

Having bought some on the last upward swing I can speak with experience.  Just buy and hold and ride out the waves.  We are all still so early in this.  I don't think most people "get it" on this board yet.

Skip ahead about a year and we will be laughing that we thought $200 was overpriced.

But of course I always temper any advise to friends that they could "lose it all" and that it is "risky" and I tell them about how I have had ups and downs.  It is just part of the fun of it all.

if that's the advice you give, you ought to be careful to really emphasize the short-term risk of buying at this price. it's easy to become a bagholder, just waiting to break even, following a rally like this. i am not advising anyone to buy until we level out, wherever that is.

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.

I don't know, they 'll have to get creative: "beanie babies", "monopoly money", "somebody buy my own version of bitcoin for 3 million dollars?", "bitcon", "shitcoin" and "buttcoin" are already taken.

Guess we'll find out soon enough  

I have money waiting for the next drop out, or for the next long term plateau....
although the chinese growth may make me regret me decision in the coming weeks.

from what I can see this rally is being pulled along by chinese speculation, and why shouldnt it.  If bitcoins are left to flourish in china it will fix a lot of the regulatory woes of a market that could conceivably pull bitcoins up to the 10000 dollar mark.

of course if the chinese decide its not in there interest.....

ill have my money waiting

Amazing! Please someobody start a business selling tulips for BTC  

I don't know.  I actually told a friend about Bitcoin this week that I had not mentioned it to.  I think it has shown great resilience after the SR situation and it is now on the upswing.  I just tell them that the price is rising and that it could crash at any point but that it will most likely bounce back up and go even higher!

If we are still early adopters (which I think is proven that we still are) it is a great time to buy Bitcoin, even at $200!

I like tulips.  I will plant a bunch in my yard because I have plenty of money to do so thanks to Bitcoin. 

I agree.  It gets so old to hear the same thing over and over.  Hopefully this time they come up with something new at least. 

I hate it when they mention the tulips.  Makes em feel so smug and smart, while it requires no critical thinking whatsoever.

they should have jumped in days ago. still holding here, but i'm not advising anyone to buy now, no way (no one i care about, anyway, lol)

I hear where you're coming from, but those sorts of comment never pissed me off. I'd just think 'lol alright mate, this is where the party is but you don't have to join in if you don't want to. Come back in a few years'