Why bitcoin isn't going to crash | Bitcointalksearch.org

piramida

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Borsche

Quote from: beetcoin on November 29, 2013, 02:00:39 AM

Quote from: piramida on November 29, 2013, 01:44:34 AM

Quote from: MatTheCat on November 28, 2013, 11:52:20 PM

Yup.

I would have said it applied back in April 2013 and also early November 2013, yet now look where we are.

No matter how many delusional bears post it, it is not getting any smarter. It never - hear me - not once - was even remotely correct in bitcoin world. Each of the "crashes" ended up higher than the previous top and much higher than the runup to the crash. So, in terms of that silly graph, *all* of bitcoin corrections were bear traps. Each and every one of them.

are you sure about your statement? it ended up lower than its starting point in 2011. so yeah, before you call bears delusional, you should really check the facts. how many booms have we had, about 3? well, your statement doesn't fit with 1 of them, but it does with the other. so far you're 50%.

http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2011-06-04zeg2011-06-13ztgSzm1g10zm2g25

Yeah I'm absolutely positive about what I say, while you aren't. I was there when it happened, the actual rally started after breaking $1, and decline ended in a year at about $2. The local crash to $10 was after a runup from $4.

http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2011-04-01zeg2011-06-13ztgSzm1g10zm2g25

notme

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Quote from: beetcoin on November 29, 2013, 02:00:39 AM

Quote from: piramida on November 29, 2013, 01:44:34 AM

Quote from: MatTheCat on November 28, 2013, 11:52:20 PM

Yup.

I would have said it applied back in April 2013 and also early November 2013, yet now look where we are.

No matter how many delusional bears post it, it is not getting any smarter. It never - hear me - not once - was even remotely correct in bitcoin world. Each of the "crashes" ended up higher than the previous top and much higher than the runup to the crash. So, in terms of that silly graph, *all* of bitcoin corrections were bear traps. Each and every one of them.

are you sure about your statement? it ended up lower than its starting point in 2011. so yeah, before you call bears delusional, you should really check the facts. how many booms have we had, about 3? well, your statement doesn't fit with 1 of them, but it does with the other. so far you're 50%.

http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2011-06-04zeg2011-06-13ztgSzm1g10zm2g25

The time period you chose is a bounce during the correction following 32. It was not the start of a new rally. Try backing up the start date a bit. The rally started at $1, hit $32, and then bottomed at $2.

Bitsurprise

newbie

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Quote from: Bipity Bupity on November 29, 2013, 05:01:20 AM

it gettin more and more popular..

Thats the whole idea of the public phase , and getting popular doesnt mean its worth 1200 or whatever , we shall see anyway .

Bipity Bupity

newbie

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i dont think it will crash, apart from little bumps up and down..it gettin more and more popular..

Bitsurprise

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Quote from: kireinaha on November 28, 2013, 10:25:11 PM

Of course, if we are in the `delusion` phase, nobody is going to admit that. It is the delusion phase, after all.

+1 , nearly 100 fold from the beginning of the year and still not enough ! so if anyone was holding $2k worth of coins now its worth around 200k how is that not greedy ?! price will revert to the mean takes time though and it may stretch to the upside a bit before the selloff , but there is a big difference between 1200 and 32 its not the same ...

beetcoin

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Quote from: piramida on November 29, 2013, 01:44:34 AM

Quote from: MatTheCat on November 28, 2013, 11:52:20 PM

Yup.

I would have said it applied back in April 2013 and also early November 2013, yet now look where we are.

No matter how many delusional bears post it, it is not getting any smarter. It never - hear me - not once - was even remotely correct in bitcoin world. Each of the "crashes" ended up higher than the previous top and much higher than the runup to the crash. So, in terms of that silly graph, *all* of bitcoin corrections were bear traps. Each and every one of them.

are you sure about your statement? it ended up lower than its starting point in 2011. so yeah, before you call bears delusional, you should really check the facts. how many booms have we had, about 3? well, your statement doesn't fit with 1 of them, but it does with the other. so far you're 50%.

http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2011-06-04zeg2011-06-13ztgSzm1g10zm2g25

piramida

legendary

Activity: 1176

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Borsche

Quote from: MatTheCat on November 28, 2013, 11:52:20 PM

Yup.

I would have said it applied back in April 2013 and also early November 2013, yet now look where we are.

No matter how many delusional bears post it, it is not getting any smarter. It never - hear me - not once - was even remotely correct in bitcoin world. Each of the "crashes" ended up higher than the previous top and much higher than the runup to the crash. So, in terms of that silly graph, *all* of bitcoin corrections were bear traps. Each and every one of them.

beetcoin

sr. member

Activity: 434

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if everybody kept thinking what they wanted to (that BTC is going to rise rise rise) then that would be self-fulfilling prophecy.. at least to a point where big time holders can't take the heat anymore and bow out.

it seems like we are in the mania phase of that graph.. but are we at enthusiasm or greed?

MatTheCat

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Quote from: keewee on November 28, 2013, 11:38:29 PM

If I had a bitcoin for every time I've seen this graph.... Roll Eyes

Yup.

I would have said it applied back in April 2013 and also early November 2013, yet now look where we are.

One day, I do believe that this graph will apply, and the bears will be able to say 'I told you so', but it is a question of where.

If Bitcoin can hit 10K before hitting the 'New Paradigm' phase, then even this late on, Btc is still an investment opportunity of a lifetime.

Best thing anyone can do is remain open to all possibilities. For this reason, I prefer reading bearish threads on here as all the hubris and pompous declarations of Bitcoin going to a bazillion aren't good for the mental attitude.

The less a person buys into delusional paradigms, the less likely he will be to have his illusions shattered.

keewee

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Quote from: Bitsurprise on November 28, 2013, 03:55:14 PM

Quote from: whiskers75 on November 28, 2013, 12:19:11 PM

People are getting into bitcoin because they believe it can go far and be used as a currency.
Whenever it crashes, people quickly buy back.
People aren't going to sell - they'll instead buy with bitcoin and save on tax fees/etc.
Thoughts?

Wrong , its a bubble and it will burst , it is a simple mechanism of domino effect , at some point - i guess between 1000 and 2000 - some will sell right or buying pressure will ease that's for sure so price will drop a bit but who bought at higher prices will start to panic and sell and so on , so a normal healthy correction will turn into a selloff ... currently we're in the delusion greed phase , dont want to sell , prices is going to 1 million , 1K is the floor ... etc its a classic bubble .

If I had a bitcoin for every time I've seen this graph.... Roll Eyes

Bitcoin BEAR

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Quote from: GeniuSxBoY on November 28, 2013, 10:51:23 PM

Lol!
Bitcoin will crash so hard, It'll make windows blue screen of death look good.
Cheesy

I like the way you think
Cheesy

GeniuSxBoY

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Lol!
Bitcoin will crash so hard, It'll make windows blue screen of death look good.
Cheesy

Bitcoin BEAR

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Lol!
Bitcoin will crash so hard, It'll make women drivers look good.
Cheesy

kireinaha

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Of course, if we are in the `delusion` phase, nobody is going to admit that. It is the delusion phase, after all.

nerFohanzo

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Quote from: Carra23 on November 28, 2013, 04:03:58 PM

You do not know at what point on the curve we are now. These graphs look for nice viewing after the crash.

I agree, might be Enthusiasm phase right after Media attention phase instead.

Carra23

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Quote from: fred1111 on November 28, 2013, 04:09:09 PM

Quote from: Carra23 on November 28, 2013, 04:03:58 PM

You do not know at what point on the curve we are now. These graphs look for nice viewing after the crash.

Also, this curve ends at a lower lever than where it started. It could also end flat at the top or at zero.

Yes, last time it did not go below the initial.

fred1111

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Quote from: Carra23 on November 28, 2013, 04:03:58 PM

You do not know at what point on the curve we are now. These graphs look for nice viewing after the crash.

Also, this curve ends at a lower lever than where it started. It could also end flat at the top or at zero.

GodfatherBond

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We'r at the quite beginning of phase 2.

Carra23

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Quote from: Bitsurprise on November 28, 2013, 03:55:14 PM

Quote from: whiskers75 on November 28, 2013, 12:19:11 PM

People are getting into bitcoin because they believe it can go far and be used as a currency.
Whenever it crashes, people quickly buy back.
People aren't going to sell - they'll instead buy with bitcoin and save on tax fees/etc.
Thoughts?

Wrong , its a bubble and it will burst , it is a simple mechanism of domino effect , at some point - i guess between 1000 and 2000 - some will sell right or buying pressure will ease that's for sure so price will drop a bit but who bought at higher prices will start to panic and sell and so on , so a normal healthy correction will turn into a selloff ... currently we're in the delusion greed phase , dont want to sell , prices is going to 1 million , 1K is the floor ... etc its a classic bubble .

You do not know at what point on the curve we are now. These graphs look for nice viewing after the crash.

Bitsurprise

newbie

Activity: 28

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Quote from: whiskers75 on November 28, 2013, 12:19:11 PM

People are getting into bitcoin because they believe it can go far and be used as a currency.
Whenever it crashes, people quickly buy back.
People aren't going to sell - they'll instead buy with bitcoin and save on tax fees/etc.
Thoughts?

Wrong , its a bubble and it will burst , it is a simple mechanism of domino effect , at some point - i guess between 1000 and 2000 - some will sell right or buying pressure will ease that's for sure so price will drop a bit but who bought at higher prices will start to panic and sell and so on , so a normal healthy correction will turn into a selloff ... currently we're in the delusion greed phase , dont want to sell , prices is going to 1 million , 1K is the floor ... etc its a classic bubble .

http://thevictoryreport.org/wp-content/uploads/2010/10/Bubble_Phases1.jpg

Topic: Why bitcoin isn't going to crash (Read 3062 times)