Clearly, anyone who knows anything about a singularity knows that Bitcoin is not one. But it is either worth nothing or quite a lot. If it's worth quite a lot, it will have to rise to get there. That in itself is a recipe for irrational exuberance and bubbles and busts. But there will be an underlying rise.
Your assertion that this bust will be so much worse than the others is just a different take on "It's different this time" and is more an expression of your bearish nature than reflecting anything real.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32211. (Read 26712938 times)
November 08, 2013, 11:04:01 AM
November 08, 2013, 11:03:49 AM
Just curious Blitz, since you said there would be no more triple digits in 2013. Did you follow your own advice?
November 08, 2013, 11:03:38 AM
Bubbles will pop higher and higher but % drops will be smaller and smaller.
November 08, 2013, 11:02:25 AM
Yeah, let's look at it again in 3 years. 
November 08, 2013, 11:01:36 AM
November 08, 2013, 11:00:47 AM
I was kidding, it was a nod to proudhon.
I'm of the opinion that next bear market will be the most devastating and the longest one so far (worse than 2011) because everyone is caught up in the belief that if only they hold long enough, they cannot possibly lose out on BTC, no matter their entry price. Every dip is a buying opportunity etc.
Furthermore, the current bubble developed very quickly after only 7 months between former alltime high. So, it's a bubble on top of a bubble in the same year.
We can talk about that once we actually top out. So far, we haven't even doubled from the 266 high.
I'm of the opinion that next bear market will be the most devastating and the longest one so far (worse than 2011) because everyone is caught up in the belief that if only they hold long enough, they cannot possibly lose out on BTC, no matter their entry price. Every dip is a buying opportunity etc.
Furthermore, the current bubble developed very quickly after only 7 months between former alltime high. So, it's a bubble on top of a bubble in the same year.
We can talk about that once we actually top out. So far, we haven't even doubled from the 266 high.
I'm of the opinion that the time elapsed between each bubble will be shorter and shorter, each will be more 'violent' and price will go up/down more drastically until we reach the 'climax' or real price discovery. Then after that more bubbles will come, but the price will increase less and less each time, and time will be longer.
We are far away for the 'climax', i think at least two more bubbles are needed.
Just my 2shatoshis
What the trading floor needs is many high volume traders that can be market movers. In other words buy up coin as its being dumped and sell coin as its being purchased just to stabilize the price.
When big money enters the trade floor expect things to simmer down plenty.
Question is when. Perhaps +$1000 ? Who knows.
November 08, 2013, 10:59:18 AM
I'm of the opinion that the time elapsed between each bubble will be shorter and shorter, each will be more 'violent' and price will go up/down more drastically until we reach the 'climax' or real price discovery.
Ah yes, economic singularity. I remember how that went: http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/Quote
Thus, in another 2.5 years, there will be somewhere between 10^8 and 10^10 users. Since there aren’t even 10^10 people on the planet, we may estimate that adoption will be ubiquitous in approximately three years.
November 08, 2013, 10:58:25 AM
Hi guys. I've been trying to avoid the spec forum, but I decided to break down and jump back in to say "hi". I'm pretty optimistic about bitcoin, but this move is surprising.
THE Bear is BACK! I don't know what to do anymore... ABANDON SHIP!
Historically, my ridiculous bearishness has cost me. Just ask adam.
Your not alone.
BFL November 08, 2013, 10:55:05 AM
Oh, i just noticed your profile pic. Well played. 
November 08, 2013, 10:53:36 AM
Blitz wouldn't you agree? we have more frenzy and far better buy support then pre-April? or you're still hoping for double digits?
Here we go again.
it's just so different [than pre-april bubble!]
Here we go again.
November 08, 2013, 10:49:53 AM
Should I buy or should I sell? 
Buy and hold like a champ bro, this is going to $2000 at least, it's only the beginning, this uptrend is still sustainable.
November 08, 2013, 10:48:31 AM
it's just so different [than pre-april bubble!]
Here we go again.
November 08, 2013, 10:44:47 AM
So, one question: for how many in here buying BTC has been the best financial decision EVER??
My wife bought when the price was £7.80. She spent £5k and bought 641 coins, worth about £130k or so now.
This was probably the 2nd best decision she ever made (after answering "I do")
I have bought a small number of coins from time to time, but my 2nd best decision ever was to buy a bunch of 5870s back in January 2001.
Hat's off to the missus for having the balls to dump 5k back when it was £7. She was either a big believer or a big gambler
I guess that most BTC freaks like us are a little bit of both.
And this gamble fueled by faith is paying off so far, IMO investing what you can afford to lose into BTC is a no-brainer, historically has always been a huge win.
November 08, 2013, 10:44:29 AM
Gotta get back to work. Have fun everyone.
Holy shit, I thought you died.
November 08, 2013, 10:42:52 AM
moved all in when the prices were USD 180+ and after that baidu announcement... best decision ever.. and if i had more fiat right now i'd do go all in even at 350.. i still believe there's more upward movement for btc, just look at those flash crashes. recovery is amazing, it's just so different than pre-april bubble!
Next stop, $700
That will be a good spot to secure some profits
So, one question: for how many in here buying BTC has been the best financial decision EVER??
That will be a good spot to secure some profits
So, one question: for how many in here buying BTC has been the best financial decision EVER??
November 08, 2013, 10:42:44 AM
Should I buy or should I sell?
November 08, 2013, 10:41:35 AM
So, one question: for how many in here buying BTC has been the best financial decision EVER??
My wife bought when the price was £7.80. She spent £5k and bought 641 coins, worth about £130k or so now.
This was probably the 2nd best decision she ever made (after answering "I do")
I have bought a small number of coins from time to time, but my 2nd best decision ever was to buy a bunch of 5870s back in January 2001.
Hat's off to the missus for having the balls to dump 5k back when it was £7. She was either a big believer or a big gambler
November 08, 2013, 10:38:34 AM
Hi guys. I've been trying to avoid the spec forum, but I decided to break down and jump back in to say "hi". I'm pretty optimistic about bitcoin, but this move is surprising.
You have returned to say "hi"! Most excellent. Have a good time at work! its always good to hear from proudhon
November 08, 2013, 10:38:09 AM
Gotta get back to work. Have fun everyone.
yup Back to work everyone!
November 08, 2013, 10:38:07 AM
Hi guys. I've been trying to avoid the spec forum, but I decided to break down and jump back in to say "hi". I'm pretty optimistic about bitcoin, but this move is surprising.
You have returned to say "hi"! Most excellent. Have a good time at work! Jump to: