Bitcoin Forum

If you were here in 2011 (I was using several other accounts that got banned), you are probably feeling the same way as me right now.

Let's just say that the events that unfolded yesterday are far more exciting to those in the know than the explosive growth we recently experienced.

Not going to spoil it for the newbies, they need to learn this lesson for themselves...

Disclaimer: I am not buying or selling Bitcoins right now.

Bitcoin is here to stay.

I was burned on 2011 but still believed and will believe.

Whats up girlie man?

I'm using the same profile I created in June 2011.

Banned multiple times because pussies can't take it when they hear the truth lol

I was here, made a ton of money then, made a ton of money now, I'm betting will make a ton in the next couple months. ;D

666 worthless post later.

I'm enjoying re-reading all the same threads, reposted by different people, with different words, saying the same thing. It's like Groundhog Day.

Is there any way to short bitcoin or play the downside?

I saw the IG markets spread betting option but what else is there?

Believe it or not, I've never been banned.

Hey! This is the 2011 survivors club!  :P :D

Common... I am nosy  ;D

Would be cool if some of you oldschool guys would be bored enough to actually pick some of the 2011 quotes and put them together with the current ones. I guess what you mean is that back then you witnessed many ppl popping up out of nowhere trying convince everyone the BTC value is ok and is actually waaaaay lower than it should be.

Hello  :)

I was here. I still have almost all the bitcoins I purchased before the 2011 bubble (some I have wasted in losing bets). Sold pretty much all I got after the bubble around $190.

I am still around, not a lot of bearish trolls who were all over the place.

I was born from 2011, basically.

Given what you said back then, why are you still making statements about what could hurt Bitcoin in the long term, like you have ever cared?

im from when it was around 1.56$

I'm not impressed by my post/day average I must say, I guess I'm a classical lurker :P

With a rebirth occurring now.

You will die (your forum persona) in 2014 because of the bull run.  ::)

It does look familiar. However, I don't believe in a long slow slide, that one was boring. This time bitcoin should play something more exciting, a long period of uncertainty maybe where bulls and bears would be playing king of the hill on a monthly rotation? Just like stock market, only wilder. That would be fun.

A daytraders dream come true.

I remember watching my money triple and cackling like a madman at night in 2011, then I started learning.

Don't suppose anyone's seen Nagle yet?  :P :P :P

Any moment now, or his successor, I'm looking forward to that, Bring on the FUD!

Oh Nagle, long gone.

Any moment now....

http://downside.com/cryingman.gif

I've been a Bitcoin enthusiasts and miner since March of 2011, I've traded a little, lost 2/3s of my coin calling a bubble at $15 on the way up to $200.

I survived the boom and bust of 2011 without breaking a sweat because I'm certain Bitcoin is the future of exchange.

Just wait until another EU country (I'm looking at you Ireland, Slovenia, Portugal) needs a bail in and the Bitcoin rocket will resume.

I've been in since Q1 '11.

It's not that tough to survive all this shit, if you aren't doing stupid stuff.  It's kind of a drag when a buy-and-hold strategy means you have to hang on for longer - but whatever.  In the meantime, I still buy bitcoin with fiat whenever I want to buy something that's available for bitcoin - and buy some extra to hang onto for every purchase.

This one has been pretty exciting though.  Glad I sold a few for my upcoming vacation - at $236-240 - before it hit the fan.  Dumb luck.

Obtained my first BTC during the $4-$20 rise/fall. Managed to hold onto a few to play with during this rise/fall, though Gox has abruptly ended some of the fun. Fortunately there are other exchanges. Already looking forward to the next bubble.

I started getting involved with Bitcoin when it was at 9$ and on it's run up to 31$. Didn't make a bitcointalk account until a bit later, but I must say I'm enjoying my time around here:

Total time logged in: 30 days, 6 hours and 57 minutes.

Never been banned either ;D

i have been! and it was fun! :D

Bought in at around $1 back when it was paypal gifts, and a good set of balls(/stupidity).

Sold bits on the way up to 32, becuase just like recently, it was going to high too fast.

Bought back in on the way down (too early, and not enough at the bottom because i was too chicken!) what I'd sold was up. Zhoutonged for $700 on bitcoinica lockout. Was still a bit up.

Held tight, sold bits on the way up to $266, even counting the bitcoinica loss I am several thousand dollars in profit now. Still have half my coins. Gonna be sitting tight and hold until the next bubble. Probably won't buy unless we go super low (sub $30 again). Still beleive BTC is going to the moon 10-100k per coin, and I'm happy to wait.

Mined some coins before the 2011 bubble but didn't even make an account on any exchange. Saw the bubble build and burst and kept my coins. Almost forgot about my coins, luckily remembered when we hit the previous ATH.
Then there was a time in the last weeks when i was actually below the amount of coins i went in from mining due to bad daytrading - staying short when prices jump up 30% - but things were moving way to fast. Now it feels like just holding might not always be the best strategy ;D

As long as the price doesn't jump above 250 Euros before I get the chance to buy back in I'm feeling fine.

http://www.youtube.com/watch?v=Z0GFRcFm-aY (http://www.youtube.com/watch?v=Z0GFRcFm-aY)

Bought all the way down from the 2011 crash. Will continue to buy these days as long as nothing actually fundamental to bitcoin changes for the negative.

Looks like I have the oldest account here  8) Was here a long time ago, but didn't get involved in bitcoin much until after 2011 crash. Started seriously investing into it at the end of 2011, but sold most of them in February and March (not at the top unfortunately). Looking forward to buy some more after the price stabilizes. I don't think it will be in next couple of months though, there's still a long way downwards.

I joined in June 2011, having solved two blocks myself with a CPU miner back in 2010. Last time around, I commented mainly on small scale GPU mining rigs, mining pools, and then some swing trading down the backside of the 2012 June bubble peak. This time around I was able to better time the peak, and half of my spread out, pre-positioned sell/buy-back limit orders on Mt.Gox executed, netting me a double on the small number of coins risked.

Timing a bitcoin peak is perhaps more knowable given that the 2011 Survivors Club members have seen two of them. There are common attributes that stand out ...

• Several months of monotonically increasing price growth, including multiple doublings
• Increase in the doubling rate. In Bubble 1 - June 2011, the price doubled in a single day at the peak. In Bubble 2 - this one, the price doubled in seven days at the peak.
• The very large number of new investors, and the explosion of buy orders.
• Problems at Mt.Gox occurred during the crash phase.
  

May I have the wisdom to survive the next bubble.

Remember how people were always saying that Bitcoin would never see single-digits again? And how, even if it did, it would be for a very short period because everyone would want to buy at that price?

Good times...

Yep.  I "lost" money then, "gained" it back when the price went back over $20.

I'm still here  :D

Here to stay.

still here.

I smiled all the way up to $34 in 2011, then smiled all the way down to $2, then smiled all the way up to $266 yesterday.

Never sold. Still not selling. Still smiling.  :)

Why am I smiling this whole time? Because of the Trillion Dollar Question: https://bitcointalk.org/index.php?topic=173536.0

Still here and Mt Gox still has all my coins on lockdown from bitcoinica.  Probably same story when this thread gets created in 2014 once again.

Here's what I've learned over the past couple years, consider coins not in your own secure wallet something other than your own.  Despite what lots of people probably think of me, I do value bitcoins, but I don't think their value can be sustained much above a few bucks (optimistically) until people really internalize and appreciate that fact.

Where's nagle when you need to kick him?  :)

Another $32-$2 survivor here.  I sold out completely after I saw a similar pump & dump this time last year, and didn't buy in again until early this year.  It was nice taking a year off from checking charts constantly, though like everyone else, I wish I had bought more at $2 and sold more at $250! :)

We found the floor in late 2011 at $2, with later floors at $5 and $13. I think the new floor will be $75 based on the 35k bid that was flashed last night at that price, and we'll be back over $100 within the next week.  Bitcoins still have some very useful properties.

Lets just say, in the coming months we will see who the real bulls are... ;)

When gox reopens I should come up with a reasonable timeframe. Shorting becomes a temptation again but I think I will resist it this time.

I was there ways before. The whole narrative is overblown. The price goes up, the price goes down... what's the big deal? What matters to me is that Bitcoin is growing, as more and more people find it useful for whatever purpose. Speculation, store of value, international transfers, tax avoidance, consumer tracking, financial audits, micropayments, macropayments, gambling, contracts, whatever. We should not focus on price fluctuations too much while forgetting to think about and work on the utility of Bitcoin.

I lost some money in 2011, then afterwards bought a lot of coins at $5. I still have all of those coins, and I just might just do something similar again if the price goes low enough.

I invested in bitcoin at the worst time ever after a week of research... at the value of 28$ in 2011, just before the crash. (I believed in bitcoin, so held on them despite the pressure from mocking relatives.) The funny thing is that if I were to get out now I would still triple my investment!

I'm kind of kicking myself now because I decided to sell 5 BTC just before the bubble popped because I need some cash right now, but didn't act on it because I lost my MtGox password (and can't seem to be able to get a new one, will probably need to make a new account), and because it looks like I'm going to need several weeks for the Bitcoin client to catch up... (you can send BTC even if you aren't 100% synchronized, right?)

So, do you think that history is going to repeat itself : that we're going to see BTC go down to about 30$ during the next months, then gaining momentum for a new bubble at around 2200$ in two years?

2011 after crash was the best memory for me, difficulty went down all the way and my mining profit increased week by week, but this time seems no luck, difficulty still on the rise, and with the release of Avalon Batch 2/3 and BFL ASICs in sight, it will double in another month or two   :-\

I think the electricity cost for GPU miner is the fundamental support for bitcoin price, currently 1G hash gives 0.06 bitcoin per day, using $3 electricity, that is 50 USD for 1 bitcoin

Got to feel sorry for anybody that recently sunk funds into ASICs... especially the ones that bought them well above price on ebay.

Actually I don't feel sorry for the ebay ones at all, they are greedy cunts and deserve everything they get.

I watched all the way from $.25 to $32 and down without any bitcoins. I have balls of steel.

But then I slowly started to buy, and buy. Stopped increasing the net position as it crossed $100 recently.

Now I am prepared to make a killing by trading, dealing and arbitrage. I have coins and fiat in the exchanges. No matter where the price goes, I intend to be at least BTC100 richer in 24 hours.

I don't believe in a lasting crash, since at the rate I make money, all your coins are belong to us in less than 20 years.

I remember pricing the Bitcoin Magazine at 1 BTC for simplicity and being worried about losing money on shipping.  :D

Which exchange you will be on?

Probably all of them. rpietila has more funds than me but I intend to make a lot more than 100 BTC in the next 24 hours :D

I saw the run to $32, then started mining on the tail down to $2.  I bought a few more rigs around $2 and kept mining and sold way too much at $5.  Lost a lot due to greed with Pirate@40 and conman Hashking.  But I held the rest and haven't traded them since (except for buying 2 Avalons and a BFL unicorn).

I could have sold at $250 but I think it's better for my health to not stress.  No point having wealth if you're dead or dying.

Yes, and I pay 5-10% over for any codes/funds in the exchanges. Sell your coins and PM me. $10k minimum trade 'cause busy  ;D

yeah I hope he has lots of funds.
works for me.  ;)

If I judge rpietila correctly: all of the ones that might remotely make sense at some point.

He's doing it right: fill up the various exchanges with funds. Then you can make the moves you want to make and rebalance. Need lots of fiat for that, though.

As for my "age": I actually found a block solo-mining once.

I thought there was a lot more substance in the discussions back in 2011.  I hope those make a return and all the gloating posts die down.  

Well that's flattering. I only employed my first full-time bitcoin broker exactly 10 days ago, so we have barely started to make money.  ;D

haha, lol. You must be referring to the first half of 2011. Because during the second half there was almost no constructive discussion to be had on these forums.

I've been here since April 2011. I have only mined, spending a few BTC here and there on video cards and such. Never have I bought any Bitcoins directly, even when they were under a dollar back then (regretting that now, heh), and I have only ever sold 1 Bitcoin, just to see how it worked.  :)

Barking dogs don't bite.

Yeah I remember them but they seemed to be more contained back then.  We had some good discussions in the economics section.  Either that or I'm just getting old and have forgotten all the bad stuff.  I did take a bit of a hiatus from Bitcoin so maybe I missed the peak of the negativity.

Look at my user number.. I'm there since november 2010.. Sold more than 5k under 1$ (No regrets at all)..

My first trade was at 0.15 with Slush, (Proud to say that we both do our first trade togheter)  Mining on his pool since it open...

Mining since nov 4th 2010 (never had more than 4.1 Gh/s)  Just bought few weeks ago 2Gh/s with coins valued between 100 and 150 !  Again, no regret at all...

I enjoy the community / forum, but im kinda too much addict to this.. I should leave it alone, just monitoring the mining and take a look back in 6 month...

Will I be able to do so ?

Registered: January 26, 2011

What a ride!

I've always been risk-averse and paranoid, and watching this spectacle has sort of validated that attitude for me... Amazing times, I'm starting to think I should have taken notes for a book, although I'm not a writer in any sense of the word.

I started mining from a machine at home in probably December 2010 or January 2011, for a couple months it was a fun hobby - learning about stuff, hacking on getting automated mining to work under Linux, spending coins all over the place just to see what I could do with them - probably spent/lost/got scammed out of 500ish coins during that period.

Easy to look back on it and say it was stupid, but it was a lot of fun and a learning experience.  Without that trade going I was a small part of, Bitcoin would never have a chance.  My only real regret was keeping a bit too much coin in mybitcoin, iirc it was 50 coins at the time of them ditching.    Keep in mind, at the time you could have a single high-end GPU mine 10 or so a day, and they were worth less than a few bucks each :)  This was play money, basically.

Given I enjoyed the hobby quite a bit, and felt there was a decent chance of ROI on GPU's at the time (free video cards! sign me up!) - I "invested" in a few mining rigs which finally got on-line months later due to business trips in May/June of 2011 just in time for the huge difficulty ramps and corresponding exchange rate bubble.   By the time they were operational, the price had crashed and it wasn't looking like I'd ever make ROI back on the hardware itself, much less electricity.

2011 bubble happened and burst, and I didn't sell much during that time.  Just kept things mining since then at a steady pace.

This bubble, when it hit $33 I sold enough to cover my original expenses, which was just under half of my entire btc holdings.  Obviously I'm annoyed now I did that, but it was and still is a solid financial decision.  I also cashed out a ~30% profit over my expenses at $174-238, which I've left on the Exchanges so far.  I would have sold more (everything) had price held stable long enough to get money out of the exchanges at $200+.  I simply don't trust them enough to dump everything at once - I'd rather have my coins safe, and do things in small increments without someone holding vast amounts (for me!) of cash on my behalf who might disappear tomorrow.

Not sure what I plan on doing now.  I have just over half my total peak btc holdings safe in cold storage wallet, and have no plans on selling them any time soon.  If the price drops considerably, I would like to re-buy the coins sold to pay expenses and get back to my original holdings in btc.  At that point, I'd simply hold as savings - possibly cashing portions out to USD during any subsequent bubbles.  The buy-in price for me would be low though, sub-$33 :)  Other than that, I plan to simply spend them on things I need.

Overall I'm a "believer" in Bitcoin.  This last bubble was absolutely retarded, and I believe damages the ecosystem more than helps it.  I'm not convinced Bitcoin will exist 10 years from now, but I am convinced something very much like it will, if not it itself.  Either way it's been a fun ride so far, that's probably provided more entertainment per dollar than anything else I could have started messing with :)

-Phil

I'm better at lurking :)

Back in 2011, when FPGAs started to be developed on, I proposed to my professor to design a Bitcoin ASIC as my master thesis. It wouldn't have taken a lot of time. Less than butterfly labs, at least! But he refused, saying that digital-only circuits are a solved problem and have no academic value. Which is true actually, if you are a IC-design academic :) He agreed it would be interesting for economists, however.

I will be in the 2013 survivors club thread :)

I started looking at Bitcoin in late 2010.  It took me 6 months to get my head around it (source code & economics).

I started Dollar Cost Averaging (DCA) at $2.50 during the first run up and spent half of my Bitcoins (within the Bitconi economy) before they reached that price again 9 months later.

1 month after the $2 dollar bottom, my business took its first Bitcoin transaction and it will continue to do so until Bitcoin completely dies.

I stopped DCA in July last year and have only made Bitcoin through my business since then.  The business has sold Bitcoin at $70 and $228 (for fiat) but still retains 40% of them.

Bitcoin has given my business unprecedented media coverage (how much would it cost to get a write up & web link in 3 major news outlets? :-)) and just between you and me, Bitcoin's appreciation has generated more profits than the business usually makes.

I only have three wishes for Bitcoin in the next 12 months, a competent exchange, less financial friction and scalable to 10 transactions per second.

Date Registered:    August 02, 2010, 12:54:17 PM

Still here, but wasn't very active for a while  :)

Sold 1000's of btc's at what I thought where stupid high prices.
Yup stupid high like $2 - $20, actually I was happy they came back down, I had a inner piece, something inside me saying "told ya so"  :P

Decided not to sell more coins however, only after paid work 50/50, 50% selling (till I can pay everything with btc)  and 50% saving.
I'm not buying anymore, maybe if they would really went down to 2$ or something but I don't think that will happen, not mining anymore, going to pick up working for bitcoins again, imo also the best way to earn your coins. That's why they were made.

Cool thread. Joined in 2011, still use my same addy as well.

https://blockchain.info/address/12NcNYb2oEh6ANo95AakEjPqQdgbcxh4m9?offset=150&filter=0

yes

Deja Vu  :D

no

https://i.imgur.com/jtEgz2El.png (https://i.imgur.com/jtEgz2E.png)

I think you're doing it wrong.

This thread delivers. 

Very interesting thread  ;D

By the way, I accidentally bought 1.2 bitcoins at $109 (I had intended to cancel that order), and I'm not even mad. And to me that is quite a sum of money, more than I spend on food in a week.

I don't understand. Doing what wrong? What is odd is that I have btc in my wallet but that above is showing 0. Also, most of my cryptocurrency is in my LTC wallet.

Posted This in another thread but newbies need to read this and learn from our experience.

What happened was daylight robbery and nothing more. Greedy monsters caused a massive sell off at the perfect 'system overload goxed down DDoS' time. It was like taking candy from a baby. We had a massive influx of new naive and scared money that didn't understand the technology or its world changing potential.  Im not a finance person, but I believe its called a TREE SHAKE

All those ripe for the picking, apple shaped newbies fell to the floor in fear and are now lying bruised and hurting.

Leading to the question what will happen next? Well personally I believe in the tech as do many more and there is A FECKIN shit load of money sitting on the exchanges now a billion or more!

With whats just happened and with the aforementioned in mind many folk will no doubt flee in terror but those that understand what we have here and how strong we still are after one of the biggest and fastest sell offs in history, will probably wait for the dust to settle and if they sold on the way down will probably buy again as soon as this levels out. I predict a slow and steady rise over the next few weeks after we've found the stable base which seems to be somewhere between 50-100$.

DO YOUR OWN RESEARCH ... don't just read this speculation forum as there are many good articles out there, if you didn't understand what you were getting into before READ MORE.

I suggest these two as relatively unbiased research starting points.
one of the best of the new articles http://www.newyorker.com/online/blogs/elements/2013/04/the-future-of-bitcoin.html (http://www.newyorker.com/online/blogs/elements/2013/04/the-future-of-bitcoin.html)
followed by one of the best of the old ones http://www.economist.com/blogs/babbage/2011/06/virtual-currency?fsrc=scn/fb/wl/bl/bitsandbob (http://www.economist.com/blogs/babbage/2011/06/virtual-currency?fsrc=scn/fb/wl/bl/bitsandbob)

also spend less time in this seedy little sub forum and more time HERE - PRESS- https://bitcointalk.org/index.php?board=77.0. (https://bitcointalk.org/index.php?board=77.0.)

My condolences to those that bought in above 120 but if you have followed the prevailingly sensible advice of not investing more than you can afford to loose and still haven't sold. Then I firmly believe in a years time those 260$ coins you have will be the best thing you ever did.

Still what do I know? I'm just a faceless comedy Warhol caricatured banana, on an obscure sub forum of the Internet.   DYOR

disclosure i have i've been here since Jan 2011 and have a more than a few coins tucked away don't let my registration date or post count fool you. I couldn't bring myself to sell yesterday, as I believed it to be disgustingly immoral, but will be buying more in the coming weeks.

Lol, same here. Except the post count in this obscure subforum of the interwebs.

Old Timer checking in to the survivor thread....

We have all survived it, and I'm sure we will continue to survive. Media and weak hands will be having a field day for a while (who knows how long), but it will I have confidence it will grow. I did last time even though it was painful to watch the FUD and wired magazie 'rise and fall of bitcoin' garbage. The long term trend lines are still intact. I have more coins now, wish I had even more.

+1

exactly, money passes from the weaks hands to the knowledgable heads.

you guys do use brainwallets?

2011 was enough to wake me up. Even if though MtGox managed to press the snooze button the second time in the row, the entire world will wake up.

Coming true now.

we could be consolidating in huge swings between $50-$266 for the next couple months until the tremors of the great crash of 10 April die down. never thought i'd see the day...

edit: disclaimer: wasn't around in '11, but i'm excited to be treading in such untested waters, and am jealous of the history you guys have witnessed :D