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Title: What will happen when we get above 31.91 $, June 2011 high ? Post by: Herodes on February 23, 2013, 07:55:14 AM So, the same journalists that wrote 'bitcoin is dead' will now write 'bitcoin to new heights' ?
Or will we actually see good pieces of journalism where somebody does proper researching and sees where bitcoin fits into our world, and how it helps bring economic freedom to people, how it will be easier to do transactions internationally etc. It's kind of a joke these days that a bank transfer takes days. Bitcoin is instant, and for merchants non-reversible. Plus, there's so many great things happening for bitcoin these days. Seems like the growth of bitcoin is a natural evolution in an existing inefficient market. Sure, any PR is good PR, right ? Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: humanitee on February 23, 2013, 08:01:44 AM The actual bubble and insane volatility.
Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: oakpacific on February 23, 2013, 08:01:59 AM Many bears will be liquidated.
Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: twolifeinexile on February 23, 2013, 08:02:01 AM So, the same journalists that wrote 'bitcoin is dead' will now write 'bitcoin to new heights' ? Or will we actually see good pieces of journalism where somebody does proper researching and sees where bitcoin fits into our world, and how it helps bring economic freedom to people, how it will be easier to do transactions internationally etc. It's kind of a joke these days that a bank transfer takes days. Bitcoin is instant, and for merchants non-reversible. Plus, there's so many great things happening for bitcoin these days. Seems like the growth of bitcoin is a natural evolution in an existing inefficient market. Sure, any PR is good PR, right ? I am sure there will be a lot press and then some people who "forgot" bitcoin will remember it again. Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: Herodes on February 23, 2013, 08:20:32 AM Once we break $31.91 I think we should use betsofbitcoin or bitbet or some such platform to put up an assassination market (http://en.wikipedia.org/wiki/Assassination_market) style wager... Let's get Benjamin Wallace (http://www.wired.com/magazine/2011/11/mf_bitcoin/) kicked in the nuts! Following his logic, he must now write a new article called: "The Rise and Fall and Rise of Bitcoin" Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: piramida on February 23, 2013, 08:49:39 AM The Rise and Fall of journalism :)
Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: Zangelbert Bingledack on February 23, 2013, 02:24:48 PM The high is a huge emotional pain point for many early adopters. We could see some serious pullbacks each time the battering ram swings toward $32, but the more heaves and hoes we see, the greater the gush of euphoria is going to be once we bust through that psychological wall.
Long term (over the next few weeks/months) it should all even out as we continue the organic exponential growth path of 2013. Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: oakpacific on February 23, 2013, 02:32:13 PM The high is a huge emotional pain point for many early adopters. We could see some serious pullbacks each time the battering ram swings toward $32, but the more heaves and hoes we see, the greater the gush of euphoria is going to be once we bust through that psychological wall. Long term (over the next few weeks/months) it should all even out as we continue the organic exponential growth path of 2013. Good point, it's actually a part of Bitcoin's "past" which should be buried. Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: BitCoinsLOL on February 23, 2013, 04:10:55 PM The masses will stand up and take notice.
Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: Piper67 on February 23, 2013, 09:19:14 PM Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: Odalv on February 23, 2013, 09:26:18 PM We will see another high above $200 and fall to $60 :-) or safe rise to $90 ? (this year)
Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: twolifeinexile on February 23, 2013, 10:23:38 PM We will see another high above $200 and fall to $60 :-) or safe rise to $90 ? (this year) Everyone here is all too optimistic Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: Odalv on February 23, 2013, 10:26:56 PM We will see another high above $200 and fall to $60 :-) or safe rise to $90 ? (this year) Everyone here is all too optimistic Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: baggyp on February 24, 2013, 04:49:44 PM I know the assassination market comment up there near the top was in some if not most ways a joke, but I just had a rather chilling thought about the boom the assassination market worldwide stands to have as the market cap of bitcoin rises. *shudder*
Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: vdragon on February 24, 2013, 04:53:54 PM Bitcoin becomes like Umbrella corporation, and some time in the near future releases the variation of T-virus, but instead of human flash and brains, everyone who turns zombie will run for bitcoins :D. What do you think will happen? Nothing special, many have adopted it, it will slowly rise more
Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: vokain on February 24, 2013, 05:09:44 PM The actual bubble and insane volatility. we will have no historical price point to compare against, you're right. Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: cypherdoc on February 24, 2013, 05:14:45 PM Many bears will be liquidated. it's called "being Zhoutonged": https://bitcointalk.org/index.php?topic=49445.msg588749#msg588749 Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: casascius on February 24, 2013, 05:24:18 PM The high is a huge emotional pain point for many early adopters. We could see some serious pullbacks each time the battering ram swings toward $32, but the more heaves and hoes we see, the greater the gush of euphoria is going to be once we bust through that psychological wall. Long term (over the next few weeks/months) it should all even out as we continue the organic exponential growth path of 2013. I would think the pain would be "Damn why did I sell?"... Those people should already be sold out. Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: TooCasual on February 24, 2013, 05:36:44 PM I would think the pain would be "Damn why did I sell?"... Those people should already be sold out. +1 ... Someones got to free up the BTC for others :D TC Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: cypherdoc on February 24, 2013, 05:39:51 PM I would think the pain would be "Damn why did I sell?"... Those people should already be sold out. +1 ... Someones got to free up the BTC for others :D TC this is why you can never blame early adopters for being early. Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: notme on February 24, 2013, 08:20:42 PM I know the assassination market comment up there near the top was in some if not most ways a joke, but I just had a rather chilling thought about the boom the assassination market worldwide stands to have as the market cap of bitcoin rises. *shudder* If you give a stranger an irreversible, pseudoanonymous payment method to kill someone, you are being scammed. People who actually do shit like that don't deal with strangers. Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: oakpacific on February 25, 2013, 03:49:33 AM Many bears will be liquidated. it's called "being Zhoutonged": https://bitcointalk.org/index.php?topic=49445.msg588749#msg588749 Yeah, I know, but I prefer the word "liquidate" for two reasons: 1. Over time bitcoin will become a more "liquid" currency than fiats ;) 2.Over time that part of shithole history of bitcoin should become relevant no more. Title: Re: What will happen when we get above 31.91 $, June 2011 high ? Post by: oakpacific on February 25, 2013, 03:59:28 AM The high is a huge emotional pain point for many early adopters. We could see some serious pullbacks each time the battering ram swings toward $32, but the more heaves and hoes we see, the greater the gush of euphoria is going to be once we bust through that psychological wall. Long term (over the next few weeks/months) it should all even out as we continue the organic exponential growth path of 2013. I would think the pain would be "Damn why did I sell?"... Those people should already be sold out. Yeah, I'm sure that plenty of people who thought we were near the top of the "bubble" and were planning on selling at $32 were just fine with selling at $29 or $28 when it dipped. It's acutally somehow provable, look at that steep peak in June 2011: http://blockchain.info/charts/bitcoin-days-destroyed-min-year?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address= Too bad I couldn't find the days destroyed script, if we replace the "unspent time" factor with its power function, we could have a better idea of the early adopters' cashout activities. |