You guys need a reality check - page 2.

rogerwilco

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Quote from: BittBurger on July 31, 2014, 07:20:06 PM

Quote from: Edward50 on January 03, 2012, 01:58:19 PM

4) 5,000-7000 new bitcoins come into existence every single day.

This is evidence that Bitcoin is doing quite well for its youth. Nearly $4 Million in new bitcoins flood the market *every day* and yet the price is stable.

That means demand is meeting supply. That means people are buying $4,000,000 worth in bitcoins every day, doesn't it?

Not when Edward50 posted it.

BittBurger

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Quote from: Edward50 on January 03, 2012, 01:58:19 PM

4) 5,000-7000 new bitcoins come into existence every single day.

This is evidence that Bitcoin is doing quite well for its youth. Nearly $4 Million in new bitcoins flood the market *every day* and yet the price is stable.

That means demand is meeting supply. That means people are buying $4,000,000 worth in bitcoins every day, doesn't it?

MoreFun

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WePower.red

Quote from: r0ach on July 31, 2014, 09:27:12 AM

It's funny how those talking points in the original post are just as valid today as they were then, but somehow the price is 10x higher. That's one hell of a fugazi.

You meant 100x, right?

r0ach

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It's funny how those talking points in the original post are just as valid today as they were then, but somehow the price is 10x higher. That's one hell of a fugazi.

We'll need someone to invent an entirely new economic model to describe what's going on here.

Peter R

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Quote from: Edward50 on January 03, 2012, 01:58:19 PM

Anybody who wants bit coins already owns a substantial number of these useless coins. Will they keep buying more to help maintain a high price? Who are the new suckers coming into the market now and buying them?

It's interesting how the same talking points get rehashed over and over. This is something we still hear a lot: "everyone who wants bitcoins already has them."

Quote from: Edward50 on January 03, 2012, 01:58:19 PM

10) Last but not least, who the hell is stupid enough to pay $5.00 now for a bitcoin?

I imagine it was people not unlike those paying $566 for a bitcoin right now.

Anduck

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quack

Sometimes it's good to see these old topics brought up. For example, this thread shows well what the bears said back in 2012.

Benjig

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Well no matter how useless they were but they had the same potential has now, so the smart enough who saw that, made a huge profit.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: Edward50 on January 03, 2012, 01:58:19 PM

I see too much blind optimism. Everyone thinks bitcoins will rise to the moon again.

Remember some points.

1) Bitcoins are as useless now as they ever were

2) Bitcoins are not a commodity, they are not consumed. Everyone who bought on the way up, needs to eventually sell them.

3) The market is very tiny, and is growing slowly at best.

4) 5,000-7000 new bitcoins come into existence every single day.

5) Most people sit with bitcoins on a rally, but eventually it will stall and they will start selling. This will push the price back down.

6) Obvious signs of price manipulation for the pushes. Is it someone using the push, rinse and repeat strategy playing on many of blind optimist suckers?

7) Now that the price has been potentially manipulated higher, will the manipulators keep shelling out their cash to try and hold the price high?

Cool

Anybody who wants bit coins already owns a substantial number of these useless coins. Will they keep buying more to help maintain a high price? Who are the new suckers coming into the market now and buying them?

9) Market depth supporting the now $5.00 price is looking very weak on mt. gox.

10) Last but not least, who the hell is stupid enough to pay $5.00 now for a bitcoin?

I was.

jackfruit

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HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA Grin

Wandererfromthenorth

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Wow, just wow. Good to keep things in perspective lol

adamandeve

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@AltcoinAdam

what is this bitcoins thing?

maker88

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Quote from: ensurance982 on July 30, 2014, 12:59:19 PM

Who keeps on digging up all those old threads? Well I guess we have to keep looking at early 2012 prices now in order to feel like current prices are high Cheesy

Has it already come this far? Undecided

Damn necromancers always resurrecting the damned Tongue

Tzupy

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Quote from: adamstgBit on July 30, 2014, 01:44:12 PM

in OP's defence

bitcoin was pretty useless back them

AFAIK it was already used by Silk Road.
And this necro should remind n00bs that millions of bitcoins were mined / bought at prices below 20$.

adamstgBit

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Trusted Bitcoiner

in OP's defence

bitcoin was pretty useless back them

BigOrangeBee

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Wow, amazing thread. I especially love the part when the OP says, "Last but not least, who the hell is stupid enough to pay $5.00 now for a bitcoin?" HAHA!! I wish I was that stupid guy who paid $5 for thousands of bitcoins in 2012!!

ensurance982

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Trust me!

Who keeps on digging up all those old threads? Well I guess we have to keep looking at early 2012 prices now in order to feel like current prices are high Cheesy

Has it already come this far? Undecided

Serge

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it's the manipulator!
he is clearly keeping the price down atm for Edward and Nagle to jump in

Gabi

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If you want to walk on water, get out of the boat

Quote from: Gabi on January 04, 2012, 05:42:49 PM

Quote

10) Last but not least, who the hell is stupid enough to pay $5.00 now for a bitcoin?

Good luck buying a bitcoin for 5$ now Cheesy

It seems i have to quote myself

cypherdoc

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Quote from: StewartJ on January 10, 2012, 12:18:54 PM

Quote from: ?? on ??

Quote from: cypherdoc on January 10, 2012, 11:13:31 AM

at this moment, the Dow is up 100 and entering a new trending phase UP. the USD is down and UST's are selling off

even oil, gold and silver are up.

RISK ON!

Wow. Indeed.

Gut feeling here: if the past trend holds we should steadily march up, with a break-out possible any time.

You can see this on the 10-day 15 minute chart.

CES and aforementioned financial news only add to a potential upward momentum.

yes, i really like the fact that we didn't fail off that descending triangle. i think it wrong foots the shorts just like the ascending triangle wrong footed the longs at 7.2.

markets like to play nasty. this is a perfect setup.

even more so if its a slow grind up as we're seeing. eventually the shorts will realize what is happening which will result in a panic cover forcing the up spike like you described.

the primary trend is set and in place; UP.

StewartJ

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Quote from: ?? on ??

Quote from: cypherdoc on January 10, 2012, 11:13:31 AM

at this moment, the Dow is up 100 and entering a new trending phase UP. the USD is down and UST's are selling off

even oil, gold and silver are up.

RISK ON!

Wow. Indeed.

Gut feeling here: if the past trend holds we should steadily march up, with a break-out possible any time.

You can see this on the 10-day 15 minute chart.

CES and aforementioned financial news only add to a potential upward momentum.

Topic: You guys need a reality check - page 2. (Read 9480 times)