Bitcoin Forum

time to load up some next to free bitcoins before the moron runs out of coins to sell.

Panic mode on!
Hope to catch at $300 :)

Guess that moron bought it at over $1k

You do understand that the dust is still settling right? 

Keep buying in folks.  Sunk_Cost_Fallacy.txt

http://en.wikipedia.org/wiki/Escalation_of_commitment (http://en.wikipedia.org/wiki/Escalation_of_commitment)

I'll laugh when all the bulltards and cultists start panic selling when we hit double digits.

Here's what the bulltards and cultists typically say:

these posts will look great in a few years when bitcoin is in 5 digits.

So will yours in about 3-4 weeks when we're pressing sub 200.

who cares what happens in 3-4 weeks.

We need to downsize both speculation and excessive mining basically exchanging at any rate and constantly, because they can't hoard at the current rate and need to pay for their expanses etc.

tl;dr: going down to 250 maybe worse, in short terms, and then reversing to whatever, we'll see. Bitcoin has seen it before ;)

People saying it since the 600's.

Since we broke the 360's, the only graphical end is the pre-october levels, that is, sub 200.

You may still earn a few BTC in the meantime by selling now and buying back then aka shorting ;)

Or not, yeah, HODL the **** up :D

$290 is impossible :-) ( ok, probability 0.00000001%)

?! It was just at 308 on btce! People have to start wondering, maybe there's something you are all missing.

lol, no sane people will sell @$290 => I think there is not enough insane people who can drop price bellow $290 (they do not have enough bitcions)
 - calculate mining costs
 - count all sane users buying power

I don't know about everyone else, but this is my buying price target:

https://i.imgur.com/ddQBZZF.jpg

If it doesn't happen, I'll just have to catch something on the way up.

Maybe the morons are the ones buying the coins for what they perceive as being free...

Just saying, it can go both ways.

Many people with more bitcoins than you can dream of yourself, will never panic sell, even if the price goes to zero.  There would have to be some serious issue with Bitcoin, not just a low price to induce panic selling amongst the Bitcoin believers.

about the mining:

a. there is a point when no new coins are generated, then this downward pressure will stop and price will explode

b. in the meantime, when prices drop badly, miners cannot afford to keep mining. Result: miners stop, hardware development stops, hash rate drops. Hashrate and price will reach a bottom. Fewer coins will be sold. Then, the cycle will be reset, and prices will climb again.

So a crash will cleanse out the weak hands, and the industrial mining as well, IMHO.

So its a game of monopolizing useless internet funbux.  In the future it will be 21 guys who hold a million bitcoins each trading amongst themselves for $10K per coin. 

I am planning on buying in 2-3 weeks no matter what the price is. Just have to get my ID straightened out (Cavirtex lets you withdrawal CAD unverified but not deposit). I missed selling at the ATH as well (Cold storage FTW!).

Bitcoin price is subjected to cost of production. If some ASIC manufactures and mining farms can continue to pump out coin at cheaper price, then they are still profiting from selling at this price.

The wisest buy-in move would probably be to wait patiently for clear technical confirmation of a trend reversal. The advantage of this is that you are likely to avert any soul-crushing grind in prices that would make you exit your position unfavourably.

Having said that, I'll wager a bet at 200 :)

OMG this is like a dream, NMC for only $0.84. I am going to double my 3000NMC capital as soon as it goes sub 300.

because of bitcoins adjustable difficulty the cost of production can be anything between almost 0 and infinity

We actually have someone offering to double your money if it touches $200:

https://www.betmoose.com/uploads/img/938.png (https://www.betmoose.com/bet/which-price-will-bitcoin-cross-first-200-or-400-927)___________

Which price will Bitcoin cross first: $200 or $400? (https://www.betmoose.com/bet/which-price-will-bitcoin-cross-first-200-or-400-927) Options: $200 (https://www.betmoose.com/bet/which-price-will-bitcoin-cross-first-200-or-400-927#1) | $400 (https://www.betmoose.com/bet/which-price-will-bitcoin-cross-first-200-or-400-927#2)

No bet for me. I think $400 will be reached, then the final capitulation at $200 a month or two from now.

As long as no announcement by the likes of the Winklevoss, SecondMarket, Amazon, or EBay pops out of the blue, we will have to test that trendline I drew... after a bull-trap.

On the other hand, if the final draft of Bitlicense is by some freak chance, favorable, then all bets on testing the ancient trendline are off as well.

Looks's like you you covered everything with that post ;D

Dude, this chart is totally taken out of your ass.