We have hit the bottom BUY. BUY ,BUY!!!111

FreeMoney

legendary

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Strength in numbers

Quote from: dancupid on October 09, 2011, 11:44:29 PM

A log graph only makes sense if Bitcoin is growing exponentially. Typically technology trends do, so it could have value - but if bitcoin isn't growing exponentially (long term) then it has little value.
If bitcoin really does represent the future of currency, then the log graph is the way to view prices. It depends how much faith you have in the long term future of bitcoin.

Pretty much everything grows exponentially. A 2% bond does. There are lots of useful ways to graph things and a log graph is one.

dancupid

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A log graph only makes sense if Bitcoin is growing exponentially. Typically technology trends do, so it could have value - but if bitcoin isn't growing exponentially (long term) then it has little value.
If bitcoin really does represent the future of currency, then the log graph is the way to view prices. It depends how much faith you have in the long term future of bitcoin.

ElectricMucus

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Marketing manager - GO MP

Quote from: Minsc on October 09, 2011, 06:50:01 PM

Yes we have. Now is the time to buy!

necrobump much?

bulanula

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Activity: 518

Merit: 500

Quote from: greyhawk on September 09, 2011, 11:42:22 AM

Quote from: bitcon on September 09, 2011, 11:41:23 AM

Quote from: Cluster2k on September 09, 2011, 11:36:54 AM

I never expected the price to plummet so rapidly so soon. Eventually yes, as there's very little to do with bitcoin apart from speculate. But even this activity leaves me aghast.

I haven't been a doomer but have posted many negative opinions about bitcoin as a warning that it was a highly speculative, high risk investment. Some people argued with that. I hope they haven't been too burned by the 50% price slashing within a week.

Proclaiming that "now" is a good time to buy is very dangerous. I suggest no one follow this advice. No one knows when it's the right time to buy. Just imagine all the early adopters out there, seeing their dreams of cashing in bitcoins to buy houses dashed. Right now they'd be lucky to buy a car. Do you think they'll stick around when their hoard of bitcoins is barely enough to buy a laptop? What about all the merchants who traded in bitcoins and have seen just how bad an idea that was. They won't be sticking around either.

yea i'm regretting selling my $2000 TV for 200 bitcoins a few weeks back, because now i'm stuck with bitcoins that will only bring me half of that.

What would you need a TV for when you can watch mtgoxlive?

EPIC quote man !

Minsc

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Yes we have. Now is the time to buy!

RyNinDaCleM

legendary

Activity: 2408

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Legen -wait for it- dary

Quote from: greyhawk on September 09, 2011, 11:42:22 AM

Quote from: bitcon on September 09, 2011, 11:41:23 AM

Quote from: Cluster2k on September 09, 2011, 11:36:54 AM

I never expected the price to plummet so rapidly so soon. Eventually yes, as there's very little to do with bitcoin apart from speculate. But even this activity leaves me aghast.

I haven't been a doomer but have posted many negative opinions about bitcoin as a warning that it was a highly speculative, high risk investment. Some people argued with that. I hope they haven't been too burned by the 50% price slashing within a week.

Proclaiming that "now" is a good time to buy is very dangerous. I suggest no one follow this advice. No one knows when it's the right time to buy. Just imagine all the early adopters out there, seeing their dreams of cashing in bitcoins to buy houses dashed. Right now they'd be lucky to buy a car. Do you think they'll stick around when their hoard of bitcoins is barely enough to buy a laptop? What about all the merchants who traded in bitcoins and have seen just how bad an idea that was. They won't be sticking around either.

yea i'm regretting selling my $2000 TV for 200 bitcoins a few weeks back, because now i'm stuck with bitcoins that will only bring me half of that.

What would you need a TV for when you can watch mtgoxlive?

+1

bitcon

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Quote from: greyhawk on September 09, 2011, 11:42:22 AM

Quote from: bitcon on September 09, 2011, 11:41:23 AM

Quote from: Cluster2k on September 09, 2011, 11:36:54 AM

I never expected the price to plummet so rapidly so soon. Eventually yes, as there's very little to do with bitcoin apart from speculate. But even this activity leaves me aghast.

I haven't been a doomer but have posted many negative opinions about bitcoin as a warning that it was a highly speculative, high risk investment. Some people argued with that. I hope they haven't been too burned by the 50% price slashing within a week.

Proclaiming that "now" is a good time to buy is very dangerous. I suggest no one follow this advice. No one knows when it's the right time to buy. Just imagine all the early adopters out there, seeing their dreams of cashing in bitcoins to buy houses dashed. Right now they'd be lucky to buy a car. Do you think they'll stick around when their hoard of bitcoins is barely enough to buy a laptop? What about all the merchants who traded in bitcoins and have seen just how bad an idea that was. They won't be sticking around either.

yea i'm regretting selling my $2000 TV for 200 bitcoins a few weeks back, because now i'm stuck with bitcoins that will only bring me half of that.

What would you need a TV for when you can watch mtgoxlive?

i watch tradehill live.

Cluster2k

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Activity: 1692

Merit: 1018

Quote from: bitcon on September 09, 2011, 11:41:23 AM

yea i'm regretting selling my $2000 TV for 200 bitcoins a few weeks back, because now i'm stuck with bitcoins that will only bring me half of that.

I once posted a PCI 16x to 1x adapter for sale on these forums for 1.2btc to cover costs. Now I'd need to advertise it for 4.8btc. Receiving bitcoins and then running to MtGox to cash them out ASAP isn't the type of image we'd want for bitcoins.

greyhawk

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Activity: 952

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Quote from: bitcon on September 09, 2011, 11:41:23 AM

Quote from: Cluster2k on September 09, 2011, 11:36:54 AM

I never expected the price to plummet so rapidly so soon. Eventually yes, as there's very little to do with bitcoin apart from speculate. But even this activity leaves me aghast.

I haven't been a doomer but have posted many negative opinions about bitcoin as a warning that it was a highly speculative, high risk investment. Some people argued with that. I hope they haven't been too burned by the 50% price slashing within a week.

Proclaiming that "now" is a good time to buy is very dangerous. I suggest no one follow this advice. No one knows when it's the right time to buy. Just imagine all the early adopters out there, seeing their dreams of cashing in bitcoins to buy houses dashed. Right now they'd be lucky to buy a car. Do you think they'll stick around when their hoard of bitcoins is barely enough to buy a laptop? What about all the merchants who traded in bitcoins and have seen just how bad an idea that was. They won't be sticking around either.

yea i'm regretting selling my $2000 TV for 200 bitcoins a few weeks back, because now i'm stuck with bitcoins that will only bring me half of that.

What would you need a TV for when you can watch mtgoxlive?

bitcon

legendary

Activity: 2212

Merit: 1008

Quote from: Cluster2k on September 09, 2011, 11:36:54 AM

I never expected the price to plummet so rapidly so soon. Eventually yes, as there's very little to do with bitcoin apart from speculate. But even this activity leaves me aghast.

I haven't been a doomer but have posted many negative opinions about bitcoin as a warning that it was a highly speculative, high risk investment. Some people argued with that. I hope they haven't been too burned by the 50% price slashing within a week.

Proclaiming that "now" is a good time to buy is very dangerous. I suggest no one follow this advice. No one knows when it's the right time to buy. Just imagine all the early adopters out there, seeing their dreams of cashing in bitcoins to buy houses dashed. Right now they'd be lucky to buy a car. Do you think they'll stick around when their hoard of bitcoins is barely enough to buy a laptop? What about all the merchants who traded in bitcoins and have seen just how bad an idea that was. They won't be sticking around either.

yea i'm regretting selling my $2000 TV for 200 bitcoins a few weeks back, because now i'm stuck with bitcoins that will only bring me half of that.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: Dargo on September 09, 2011, 11:37:36 AM

Quote from: smoothie on September 09, 2011, 11:30:17 AM

Quote from: Dargo on September 09, 2011, 11:25:45 AM

I don't have access to good charting software for bitcoin, so I can't speak for the particular trendline the OP has drawn, but IMO trendlines in general are a very useful analytical tool for trading. People who trash technical analysis usually don't understand it, or how to use it as a tool for trading.

Yeah but how many people trade on log charts using trend lines?

Not very many that I've seen in my experience.

Agreed. A trend line on a linear chart is much more significant. The best reason to buy today IMO is that we are seeing high volume panic selling.

Patience = Profit

Dargo

legendary

Activity: 1820

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Quote from: smoothie on September 09, 2011, 11:30:17 AM

Quote from: Dargo on September 09, 2011, 11:25:45 AM

I don't have access to good charting software for bitcoin, so I can't speak for the particular trendline the OP has drawn, but IMO trendlines in general are a very useful analytical tool for trading. People who trash technical analysis usually don't understand it, or how to use it as a tool for trading.

Yeah but how many people trade on log charts using trend lines?

Not very many that I've seen in my experience.

Agreed. A trend line on a linear chart is much more significant. The best reason to buy today IMO is that we are seeing high volume panic selling.

Cluster2k

legendary

Activity: 1692

Merit: 1018

I never expected the price to plummet so rapidly so soon. Eventually yes, as there's very little to do with bitcoin apart from speculate. But even this activity leaves me aghast.

I haven't been a doomer but have posted many negative opinions about bitcoin as a warning that it was a highly speculative, high risk investment. Some people argued with that. I hope they haven't been too burned by the 50% price slashing within a week.

Proclaiming that "now" is a good time to buy is very dangerous. I suggest no one follow this advice. No one knows when it's the right time to buy. Just imagine all the early adopters out there, seeing their dreams of cashing in bitcoins to buy houses dashed. Right now they'd be lucky to buy a car. Do you think they'll stick around when their hoard of bitcoins is barely enough to buy a laptop? What about all the merchants who traded in bitcoins and have seen just how bad an idea that was. They won't be sticking around either.

iprivately

newbie

Activity: 28

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Quote from: lemonginger on September 09, 2011, 11:34:14 AM

Quote from: iprivately on September 09, 2011, 11:27:48 AM

Just snatched me up another 100 btc at $4.80

predict you will sell those back at about 4.50 in an hour or so

I'll let you know.

Minsc

full member

Activity: 210

Merit: 100

The OP just made this statement and prices rose and that's the only reason they did. But they came back down again.

iprivately

newbie

Activity: 28

Merit: 0

Quote from: Jixtreme on September 09, 2011, 11:31:21 AM

Quote from: iprivately on September 09, 2011, 11:27:48 AM

Just snatched me up another 100 btc at $4.80

too early.

you may be right

lemonginger

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firstbits: 121vnq

Quote from: iprivately on September 09, 2011, 11:27:48 AM

Just snatched me up another 100 btc at $4.80

predict you will sell those back at about 4.50 in an hour or so

smoothie

legendary

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LEALANA Bitcoin Grim Reaper

Quote from: Jixtreme on September 09, 2011, 11:31:21 AM

Quote from: iprivately on September 09, 2011, 11:27:48 AM

Just snatched me up another 100 btc at $4.80

too early.

agreed.

OP: I guess you're going to ignore all of the linear trendlines that we just broke too huh?

Jixtreme

full member

Activity: 121

Merit: 100

Quote from: iprivately on September 09, 2011, 11:27:48 AM

Just snatched me up another 100 btc at $4.80

too early.

smoothie

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Activity: 2492

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LEALANA Bitcoin Grim Reaper

Quote from: Dargo on September 09, 2011, 11:25:45 AM

I don't have access to good charting software for bitcoin, so I can't speak for the particular trendline the OP has drawn, but IMO trendlines in general are a very useful analytical tool for trading. People who trash technical analysis usually don't understand it, or how to use it as a tool for trading.

Yeah but how many people trade on log charts using trend lines?

Not very many that I've seen in my experience.

Topic: We have hit the bottom BUY. BUY ,BUY!!!111 (Read 3483 times)