Bitcoin Forum

Are you long yet? You are suspiciously quiet.

if there are any other markets on the downside right now, almost certainly he's having a field day there.

+1. Our favorite trolls have all become less trollish or moved on to other markets :)

He must've bought all the coins he so desperately wanted for cheap.

Nagle hasn't posted since December 1.  18 days without Nagle.  ;D

I have some dim recollection of him saying something like he did his buy-in at around $2.20.

I could be totally wrong, or thinking of a different person.  Whoever it was (if anyone) appears at present to have 'done good.'  I cannot say that I did since I had been grabbing at the falling knife for half a year now.  But the money I was putting in down in that range went farther, so break-even is coming into focus lately in spite of my relatively poor trading performance and strategy.

no, do not give him credit for that kinda foresight.  he said multiple times that Bitcoin was headed to the dustbin of history.

Naysayers always speak loud when things go the way they see it, when it does the opposite, they become all quiet. Wonder how it could be.. :)

Of course he 'said' that.  It means nothing.

I personally am a greedy SOB who wants as many BTC as I can get for as cheap as I can get them.  If I were 1) not troubled by being dishonest, and 2) vain enough to think I could make a difference, I would have been sowing FUD at double speed...prior to when I bought in of course.

Poor Nagle! :(

Must've died from a heart attack just like Kim Jong Il

Nagle made some interesting points (e.g. about SEC, GLBSE) and I think these have merit. But he still does not understand what Bitcoin actually is, he's comparing it to stocks, which can lead to misleading conclusions. But I don't blame him, understanding the consequences of Bitcoin is very complicated, I have been researching it for about half a year and find out something new almost every day.

On the other hand, Bitcoin may still yet fail, however it wouldn't be for the reasons typically presented by Bitcoin detractors.

Let me quote one of my favourites:

Seriously, how come he’s been so quiet now?

because he's wrong.

He payed for his internet connection with fully leveraged shorts on bitcoinica.

No, I think he lost his internet connection after being liquidated in the last ramp.

I came to this thread specifically because of the title.  If we collectively consider him an anti-hero we could imortalise him with his own named chart - the "Nagle-chart".  I don't know what it looks like yet, but it shows doom and disaster just before being proven wrong.

But, has he really been proven wrong already?  I think there's still a good chance we'll eventually resume the march down.

How about we make a chart for Proudhon-agle, we'll call it "STFU already, we know where you stand, save your breath"

Seriously, if you gave half as much effort in bitching and whining about how bitcoin will fail into your personal life, you'd be a lot better off..

Im seriously sick of you Proudhon, you have learned NOTHING!

You're the epitome of misery loves company..  Spread your cheer somewhere else..

Yes?


And, subscribing.

While Nagle was a bit over the top - some grumpy realism as provided by proudhon is a valuable damper on the irrational exhuberance and groupthink that can arise within a community.

We need some Bear perspectives.  Sometimes they'll be wrong, but they help stop this thing from running too far ahead of itself.

I fail to see how the same endless rant is any help?

Please go forth and find any thought provoking input from him thats not about how bitcoin will tank.

This whole thread has been a massive circle jerk for the bulls, full of vainglorious boasting and childish berating of Nagle. Proudhon then weighs in with a very subdued bearish opinion and you jump right down his throat with vicious personal attacks? That was not a justified response. It seems like what he is saying might be stirring up some cognitive dissonance. Maybe you should re-evaluate your position and stop venting your frustration on others. What exactly is it that you had hoped he would learn? To keep his trap shut?

While I might not agree with proudhon in the long term, I think he has more than enough justification for his outlook, and he is entitled to his opinion just like you. 6 months of sliding is a very strong trend, and it can not be disproven by a single datapoint. It is foolish to think otherwise. This might be the early stages of a market reversal, however that is anything but certain right now. Surely you must realize how easy it is for someone with a large enough holding to manipulate this market to create false signals in the charts and technical indicators?

These uncertainties should not be dismissed so casually. I am not even nearly convinced yet. I have been long since 2.2 and didn't sell at 4.5, but I now find myself hovering tentatively over the sell button more and more as the days pass.

Meh, I'm over it.  I forgot the ignore button existed.

I own up to the fact that I have been over the top in the past, and so I think some of your response is deserved because of my posting history, but I think I've toned things down quite a bit and have tried to be more realistic in my admittedly bearish approach.  Look, I do think it's remarkable that we've had, what, a little over a month now of consistent and healthy price increases.  That's fantastic, and I'd love nothing more for it to continue at this moderate pace.  But, what I'm saying is, even at a month, it may be a bit early to tell whether we've fully reversed.  It isn't entirely unlikely somebody holding a lot of coins will want to cash out, and if it happens at the right time, with the right people watching it could very well be the spark that moves us down again.  I think the project is still overcoming significant trust issues.  A lot of progress has been made.  Services are much, much more robust and secure than 6 months ago.  That's fantastic.  But there's still a long way to go.

Good grief man, do you get this mad at everyone who has a different opinion than you?

+1 for Proudhon. You're my favorite bear.  I'm bullish now, but I really appreciate the counterbalance you add to what would otherwise be mostly an echo chamber.  You consistenly bring up relevant information.

+1.  Proudhon's rational bearish views bring balance to this forum (unlike what he used to do, which was just trolling, and his turnaround there merits another +1)

+1 for Proudhon. Now it is necessary to be very careful !

Personally Im more ticked off after his "enlightenment".

Talk about wool pulled over your eyes, hes the same troll, nothing has changed..

Just because he publicly declared how "over the top" he was, he still has not changed..


No one is allowed to have a different opinion than me!  :P

So you would prefer an echo chamber where no dissenting opinions are allowed?  I really don't see him as a troll.

If you think the "bitcoin demise" is an empty chamber.. than you need to clean your ears out..  We have enough nay sayers.

Repeating the same shit over and over and over... trollish behavior

Got it.... Teflone is a troll.

:D

Well at least your listening..

I swear, every time I see your current avatar, all I see is the trollface

Didn't Atlas disappear around the same time.....?

Its freakin Jack!!  :D

http://i5.pixs.ru/storage/0/5/6/178jpg_6868037_3349056.jpgvshttp://server2.bezfishki.net/2011/032011/22/D/Dop/07/Trollface_realnye_trolli_1.jpg

In some circles, "Nagle" is a verb which means to screw something up and look extremely foolish in the process. Maybe he was super-trollin.

Thats awesome! :D

Not the whole thread.  It might have evolved that way.

Still waiting for Nagle to turn up and explain this stuff.

what possesses you to bring THIS thread back up to the top? :D

The recent spike of course. :P

I want to hear what he makes of this. Is this his "endgame" or what?

by Nagle's trendlines we should be in negative by now

Happy New Year, Nagle. ;D

https://i.imgur.com/aIFqx.gif https://i.imgur.com/aIFqx.gif

I’m sure he’s long now.

no way.

It has to be the cognitive dissonance that won’t allow him to turn up here anymore. Or maybe shame.

think of ALL the Bears who were raging here just a month ago.  we even have one for a forum moderator.

Burnt bears are delicious. They’ll be done once we move back to double digit. Time to get out the charts with Fibonacci retracements up to 17/21. ;D

I'm sure this is a totally downtrend

this is obviously "last spike before final death"

Raging? lol  Not quite, I don't get as emotional as you do  ;)  I would call myself cautiously bullish. 

yeah, but you gotta admit, you were banging me pretty hard. ;D

Bulls were all getting banged pretty hard throughout the price dip.  Too bad that in the end, the bears got banged by the market, which is the worst kind of banging ;)

He had a heart attack when he saw $5... we never saw him again.

Poor guy. D:

Nagle will speak again if and only if price tops before $32 and heads back down towards new lows.  So be careful what you wish for.

guys like him only speak when the price is going in the direction they want.

me, i spoke just as loudly on the way down as i am on the way up. ;D

It is understandably confusing for someone to view a rock, predict it will fall, and then discover that it has stopped falling and in fact has started to rise. It requires some deep personal reflection to then realize one was wrong initially. Nagle's entire worldview may come untethered if he studies this, so perhaps it's best to let him go ;)

Nagle? The price dipped below the MA recently!

Please report back and explain this "end game" we are seeing, thanks.

PLEASE COME BACK NAGLE, THE PRICE DROPPED BELOW YOUR MA

EXPLAIN THE ENDGAME!

Damn I thought for sure he was gonna be the one bumping this thread. Way to let me down  :-[

awesome, so bitcoin is stable now

PLEASE NAGLE

WHAT IS THE ENDGAME

WE NEED TO KNOW

It is truly incredible how well Nagle’s MA is holding up. AGAIN.

http://bitcoincharts.com/charts/chart.png?width=640&m=mtgoxUSD&r=150&i=&c=0&t=S&b=&a1=SMA&m1=30&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=0&cv=1&ps=0&l=0&p=0&

We've seen what happens when there's no bad news for a few months.  I hope that happens again.

And we've seen what happens for a few months after bad news.

Imagine that... monthly average is significant.

We're breaking it!  Let's hope this continues!

Meh, down a little first.

Don't forget, guys.  The weekend is coming.

You shouldn't have close you position proudhon  ;D

disclosure  : i had nearly the same as you, still open, even increased. Now let's hope i'm right  ;)

C'mon now.... It's only Tuesday.

Last weekend it increased. I distinctly remember laughing at the predictions of drops :)

Don't forget guys, Proudhon is never sarcastic.

You mean the price recovered to where it was before it dropped on Friday.

lol :)

People gotta sell to raise funds for Spring Break.

Nagle, are you long yet? You are suspiciously quiet.

Where's Nagle (https://bitcointalk.org/index.php?action=profile;u=28488;sa=showPosts) when we need him ?

What's the endgame Nagle ? He just went quiet ? OMG !  ;D

haha.  http://www.downside.com/

https://i.imgur.com/YeNtbw2.gif

I saw his sidekick ~proudhon a month or so ago.  As usually, he was calling for a price collapse.  That was heartening because when he does so, the price usually goes up.  And sure enough, we are up like 50% since by my rough reckoning.

But but but... bitcoin has no revenue, so it must be a Ponzi right ?  ???  ???  ???

Hahahahaaaaa     :D

I prefer this, this is what has been decisively proven wrong, we have businesses larger than a single supermarket using Bitcoins, their daily liquidations did not crash the market.

Right, it only took a day to recover from the recent 50BTC dump.

The funny thing is that he's just left his site with all the negative ramblings about bitcoin up. Like he's decided that Bitcoin shall and must fail, and that even if it doesn't, he sure as heck won't admit it. That's kind of laughable. It would be more respectable to candidly say that his murky expectations for bitcoin has yet to manifest themselves.

He just loses credibility this way. Also note that he was always interested in throwing negativity on bitcoin, yet he was never interested in discussing, just mindlessly stating his opinion.

his website is filled with nothing but negativity.  just look at his menus.

the image i posted above from his site is probably indicative of his entire life.

After a 1 year hiatus, Nagle is coming out of the woodwork again spewing FUD:

https://bitcointalk.org/index.php?action=profile;u=28488;sa=showPosts


So, what's the end game Nagle ?

Ahh feels like the good old days.

I welcome nagle to the great bear picnic.

Glad to see him back!

As I recall, he timed things almost exactly right and did his major buy-in at around $2/BTC.  I think he let this little tid-bit go, but could be remembering wrong.  That he's back would indicate to me that he's back in buying mode.  Whether he capitalized at 100x is unknown.  I would not doubt it since his timing seems unusually good.

I doubt that, he's probably as close to a true bear as it can get.
Ever looked at his site?

He's back to deliver the I told-you-sos

You mean the guy who went running around telling everyone it was a Ponzi scheme actually bought in?  Wow, just wow...

So he left at $5 and came back to do a bear-victory dance at $95 ?

No he is going to tell us the price gonna tank to below USD 0.06 this time. He genuinely think BTC has no practical value whatsoever.

Of course.  One would wish to buy low, and if they have a talent at inducing that condition (and no compunction about being untruthful) then it would be a no-brainer to FUD the shit out of things.

 ;D

Haha, that would be great - the biggest bear around actually is just a pretender, and is in fact just looking for cheap coins, and cashing out later on - being the biggest capitalist there is.

Also note how he always just posts, and never really discuss anything with anyone. It's like his mind is completely single minded, or he's a genius with an egoistical speculative purpose.  ;D He's an enigma.  ;D

Welcome back, Nagle.  I've tried to keep things sensible around here while you were gone.

Proudhon looking forward to playing Tonto to his Lone Ranger again.  Touching.

I'm genuinely glad you can enjoy a joke.  To you, Nagle, Cypherdoc, and the rest of my buddies:

  "I remember the pavilion late 2011 trough; We had big fun there!"

http://www.youtube.com/watch?v=tlq2No9c3hA

I really like how you are desperately trying to paint them in your picture.

Me?  I pegged them back in 2011 and said so.  There is no desperation about it...I could not care less except that I use them as an indicator of market direction...and find them more reliable that all of the TA hocus-pokus floating around.

Oh wow, I really missed Nagle! But proudhon has been doing a pretty good job defending the bear cave in his absence.

WHAT IS THE ENDGAME? ;D

He is back! Didn't you get the memo?  :o

https://bitcointalk.org/index.php?topic=175427.0

Why won't he turn up here and explain the endgame to us? Surely we are nearing it.

Also, isn't it funny how the chart from the past just keeps updating and may apply to the current situation again?

One possible answer: a word starts with "s" and ends with "l".

Nagle, why did the 2011 bubble reinflate?

Explain the endgame.

dude, you've been a pretty big bear yourself.

And it's helped me out a lot already. I could buy back at 266 and still have more BTC than before.

I understand your strategy has worked brilliantly so far. I'm just doing what I can to manage my risk.

Also, I'm turning more bullish if you noticed. Mildly bullish. ;D

you know i like you and am just yanking your chain.

keep up the good work.

With all the boring trolls/shills in the forum recently, I kinda start to miss him. At least he can FUD properly.

no he can't.  he's a dick.  and a stupid one at that.

He knew about daily SMA 30! That's some unusual amount of research by a shill's standard, nowadays we only have mouthpieces pumping out monotonic and uncreative bullshit.

The thing that I'm beginning to realize is, there may already be so much emotional and financial investment in Bitcoin that it's at a network effect/brand awareness tipping point so that even if there is a competitor that is technically superior, it may not substract from its value. MP3 for example is inferior to other compression algorithms, yet it's still what pretty much everyone uses because everyone uses it. And, if Bitcoin is to be displaced, it can take a long time to push it off its throne.

I'm only a little disappointed so far in that I only see work in the intermediaries (coinbase), nothing really revolutionary like Silk Road. Something that makes use of its properties that conventional currency cannot provide. While enforced monetary scarcity is the main thing going for Bitcoin, I would like to see more "killer apps" providing an underlying value in order to distinguish it more clearly from xyz scamcoins.

Sure, being able to buy gift cards for Burger King with Bitcoins in the US is nice. But let's not kid ourselves, it's only convenient if you already posess Bitcoins and happen to run out of USD. An unlikely scenario.

Rule of thumb: the strongest network survives, the digital currency world is actually much crueler than that of PMs. LTC uses scrypt and is quite sizable so I guess it will be fine as long as it stays "silver", but any attempt at usurpation will probably cause it to eat dirts.

Ripple otoh, is something that is infinitely replicable if they eventually open source the whole thing.

Considering what happened to MySpace and eMule, I'm not so sure. I believe that in the longer term, this will strongly depend on our ability to utilize it and create more value in form of "killer apps". You know, the things that when we speculators get bored are still used, because there is no good alternative. When the price declined from 32 to 2, Silk Road was still here, and people still bought their drugs there, providing some value.

its more than emotional. its logical.  that's the beauty of the mathematics.

yes, everyone involved in Bitcoin has a vested interest in maintaining the system.  that's a strong feature.  if any altchain arises that depends on hashing and threatens Bitcoin, i guarantee you'll see guys like BitcoinExpress attack them.  what its gonna take is some system way different than cryptocurrency to displace Bitcoin.

i'm never sure what ppl mean when they say killer apps.  personally, this thing with Gyft card is huge.  we now have an instant conversion mechanism right on our Androids which allows one to preserve the value of their money right up to the point of buying something for fiat.  this is almost as good as a Bitcoin credit card just b/c its in digitized form.  once we get a fully functional cc for Android and iPhone its to the moon.

The emotional investment side is actually also palpable. Real geeks are usually in for more than materialistic reason, the core development team consists of people from Google/Red Hat/SGI, all respectable jobs, yet moon-light enthusiastically on this project  for free, people like them are unlikely to take alt-coins seriously, I think. This dictates that  Bitcoin will have by far the strongest development team, the second-in-line, LTC, hasn't seen its source code improved for 10 months already, not to say other alt-coins.

that's a very good point.  who does work on LTC development?

Agreed regarding the network effect... No alt has brought anything interesting to the table yet, with the possible exception of ppcoin (though any benefits wouldn't materialize for years if ever (eg, when mining energy costs start to have a big effect on transaction costs, which is debatable anyway)). I think if bitcoin continues to entrench itself as the "local currency of the internet", cypher will be right that it'll take something wholly different than crypto-currency to displace it. Not sure we're at a sufficient level of entrenchment quite yet, though.

Regarding the killer app notion, yeah, store-of-value/scarcity is one. Frictionless transacting over any distance and transaction-security (ie, not exposing sensitive info with every electronic transaction) are the others. Does it need anything else? Those are huge.

Nagle? ???

http://www.downside.com/

Needs an update, man!

the guy is dead and buried.

give it a rest.

http://www.downside.com/cryingman.gif

Meh; IMO this thread serves splendidly in making an archetypal example of the original unjustified doomsayer.

:) just posted this thought on wallobserver thread and it kind of suited to your comment in the longterm sense.
(you have to feed your dreams being in this game)



 

Look how Nagle's MA provided resistance prior to the downturn.

Nagle? What is the endgame?

Oh look, this thread again.

2y anniversary coming right up. :D

You see, Blitz knows just how fond I am about Nagle.

Where's that Crying Man picture?

It's your turn Blitz.

Thank you Blitz.

I love that picture

Is it coming? How soon?  ::)

I saw Nagle posting the other day, so he's around.

Haha, I get it, Bitcoincharts kept updating the image.

Now this post looks really silly :D

I PMed him asking about the endgame, but he never replied.

Why Nagle, why. :(

"Nagle's algorithm, named after John Nagle, is a means of improving the efficiency of TCP/IP networks by reducing the number of packets that need to be sent over the network."

I think he improved himself to the point where he does not need to send any posts over the network anymore; his message lives on! :)

The man's back, spreading love all around (https://bitcointalk.org/index.php?action=profile;u=28488;sa=showPosts)

He answered (https://bitcointalk.org/index.php?topic=338204.msg3786439#msg3786439).

So after two years, this thread is now somewhat resolved. :)