Bitcoin Forum

In the year 2010 I was introduced to bitcoin while listening to a philosophy podcast. At that time bitcoin had just CRASHED all the way from $30 down to $3. The "bubble" had popped if you will, and it was quite clear to everyone that bitcoin was dead.

So I decided to buy 500 Bitcoin.

The very next day I walked into my garage and accidentally stepped onto a rake which flew up and hit me in the head and was knocked out cold and remained in a coma for 5 years.

I woke from my coma yesterday and the first thing that I did was ask what the price of bitcoin was doing, the answer i got was, "Bitcoin is dead, it's just crashed all the way down to $197."

Gee, you out for 5 years and after you wake up, first thing you ask about bitcoin. Should you ask about your love ones,even who is the president?
My point is, because you ask about bitcoin first thing, bitcoin is not dead.

Perhaps I should have put a disclaimer that this is a fictional story.

HaHa  I see what you did there...  Well played!

For those that don't understand:  Bitcoin has lost 90% of its value twice already since 2011 before moving to new highs.  We are now approaching -90% from the last high.  Good times are ahead for bitcoin holders.

FYI:
That first big bust started in June 2011 (not 2010)

Unfortunately, all that bitcoin profit will now go to your 5 years worth of medical bills, and probably won't cover it. :P

:sarcasm:

Yes， a good joke for the one who believe bitcoin is dead.

The top of first "bubble" created in 8 July 2011, followed by the first price drop

The coma story sounds legit ::)

I think the downtrend might be close to end. At least that is what I am hoping as I am buying.

The lesson to learn from this fictional story is 'all good things come to those who wait', so go now buy BTC and get into a coma.

I am hoping it stays below $200 for as long as possible, I can only buy a certain amount every check. The longer the price stays low, the more Bitcoin I will own.

The bitcoin price will continue to fall. It's been falling all 2014 and dropped dramatically early 2015.
I can't see things changing anytime soon.

do you ever see any changes or just post what your being paid too

Note to self: Hunt me down a rake to step on.

http://img4.wikia.nocookie.net/__cb20110209040717/creepypasta/images/0/04/The_Rake.jpg

Meanwhile Bitcoinpro thinks: https://bitcointalk.org/index.php?topic=928431

The gist of the message is that from $30 it went up to $200 in 5 years, so if you are saying it's dead, then think again whether the statement holds true.  ;D ;D ;D

Beware the rake though

Cool story bro , seems legit  ::)
Anyway no it's not dead , it will probably keep dropping but this dosen't make it dead at all . at least not for me ... beside it will eventually rise once again and rise badly... It just may take some time

Take away from this thread: stick to first degree when you post on Bitcointalk.

that is always my question when iam on toilette.

I can only hope! The more the price falls, the more bitcoin I will own! I dare say it cannot stay this low for another 5 years sadly…

Very good thinking.
Right now, only people who are selling BTC in panic swill loose.
Smart people will wait until price go up again, sell and make profit :)
Patience people!

but your wife ran away with mark karpeles.  ;D

careful now. predicting the market is futile.

and you decided to make a post about bitcoin five years after you have been out of your life. either you are lying or you are really dumb

Average floor was just over $170 (I was expecting to be around $150), but Bitcoin is far from dead. Soon it will reach higher prices, but nevertheless you must be very patient in this "game".

or that was all he was dreaming about.

In these two or these days i saw on trading site many buying order of btc. More than 300 by one person and lot more, just an example but why the price is not moving up. Its still constant here. Who determine its price.?

Well... you must be good in reading graphs, but price is mainly determined by China imho. :) BTC recent peaks looks like "dead cat bounce", but I believe that we will eventually see higher prices.

No need to sell in order to make a profit. In fact, profits are maximized by never selling.  ;)

https://i.imgur.com/gE8hDnY.jpg

This is a good story and I bought @800 and am still holding, so I want BTC to go back up up up... But there is a difference, as it dropped from $30 to $3, it was not that public, people were not milking it that much like the greedy mofos do it nowadays and also BTC was not banned in different countries like in China, Russia, India.

It isnt banned in any of those countries now.

Not fully banned in any of those countries.

Chine only forbids using it as currency and puts restrictions about buying and selling, Russia still allows you buy and sell from person to person, and there are Indian exchanges as far I know

I'm most tired of waiting. especially for a period of 5 years was very long.
really need patience and hope bitcoin rise again tomorrow :)

Except that the moral of this story was that he 'bought' at the low of $3 after the crash and likening it to the current low of $200ish. So low on low over this period is a growth in the low of approximately 1500%. Considering all the behind the scenes things that have been going on over the years and specifically last year, we could be seeing a nasty and violent upward parabolic move that could be helped along by everything to distrust in the financial markets, new ETFs, regulations and a regulator that will standardize such things for this crypto across the country and one who is also predicting great success in Bitcoin going forward, many new conferences this new year showcasing the new technology to new people thus spurring much more added interest, among other things indicating bullish behaviors are returning. As time goes by and an uptrend solidifies itself we'll see less and less nonsense posting here and then once the real rally gets under way, whatever stupid comments that are left will vanish in one fell swoop. :)

There is a good support @ 150$, if all hell breaks loose, atleast this level can hold.

But i dont know, Huobi ,Bitfinex and Bitstamp got some nice big juicy buy orders, so we could see a double bottom forming at 197$ and then it could rally.

However if it drops to 150$ then I will buy them all :)

If not then I will wait until the junk shorts clear out and buy @ 210-230

Please tell me you were kidding with this post....

remember that double bottom at 297? LOL

What are you talking about, there was no bottom at 297.

I just look at the order book, its much nicer to see the order book, when I traded Forex, it was hellish,you had to guess where to big whales put the money, but here all essential info is public.

I just made 0.2 BTC with an arbitrage on TILECOIN  :D

The orderbook works, and based on current data, 150$ is a really heavy support, now since I posted that, i just saw some nasty sell orders, so we might see a retracement to  165 again forming a double bottom, but I`m not worried that it will go lower.

At the moment of course, nobody can see the future  :)

The only dumb person here is you.

I thought the bulltards told us not to focus on price though? So let's look at bitcoin itself. Since 2011, there has been essentially no improvement to the protocol itself. The only difference is that you can spend them with a few stores online, but still, they're just being dumped immediately to dirty fiat and not being held by the merchants. If the merchants won't even hold bitcoin, that tells us it's not a useful currency. So essentially, the only reason we're still sticking around $200 is because of speculators.

Will these speculators drive the price up again? Maybe... but I doubt it. Sooner or later the people will realize the emperor has no clothes. There just isn't any reason for ordinary people to use bitcoin, and the value will ultimately reflect that reality.

 

Just wait until the USD collapses, after that they will have no alternative.

Gold will be confiscated, so ordinary people wont have any other place to go but Bitcoin and other crypto coins.

There's always BTCeanie BTCabies tho...

Bitcoin won't help if all it takes is a few hours of waterboarding to make you cough up your private keys.

 :D

I dont know my private keys, so they can torture me all day to get it, there is no way i can tell because even i dont know them. They are kept secure that even i dont know them :)


Yeah, like a stuffed toy that weights half kilogram wont be suspicious to the statists  :D

C`mon man, either you have your gold offshore in a vault somewhere in Bahamas or some no-name island, or you can see it confiscated by one or other form.

The soft way is that the state will buy up the vault legally, and then "manage" the gold inside it.

*manage means steal it and sell it

The hard way is just to send in SWAT teams and confiscate it on some vague anti-money laundering charges...

Either way, you can say bye bye to your gold.

Multisignature... with the other keys held by your friend in the other side of the world.

why? i just said my opinion about his decision

Sub 200's is the new 3's.

Hah, what a great story! Of course it's nothing more - just a story, but the message behind it is very well and true. People new to Bitcoin consider the price they joined Bitcoin as the "normal" price and don't even consider the price before that. They can't seem to grasp the possibility of Bitcoin still being in its infancy.

for 850,000 btc , i will sell mark karpeles my wife and get a new one :)

Speculators with deep pocket.

the value is international transfers that currently cost too much with western union and banks
those are the advantages as well as having some assets that can be moved around freely without government oversight
they price will  always recover

Bitcoin has nothing to do anymore with the original satoshi-idea. It has nothing to do with 'the people'. The foundation is hijacked and Gavin is a sockpuppet too.

Bitcoin is not anymore about freeing people from the shakles of the banking system. It has become a game of whores, whoring for big money.

Bitcoin now only relies on the good will/stupidity of the large investors. If they change their mind now what are the moneywhores in bitcoin gonna do?

Keep whoring for big pocket investors and see where you are going to end up.

Yes, Most of the BTCs are at bigger investors. They play the game.  Small investors like us must Crush in every price Crash.

It's a very interesting exercise in the 'greater fool' theory.  At this point, only the early adopters, scammers, and market shorters are the ones left out of the 'fool' discussion.

The great majority of the rest seem to be bunched into the baghodler 'get rich quick' boat that already left the dock nearly a year ago. (as is evident by all the price infatuation threads in every subforum).

Smart money has already filtered into assets with intrinsic value such as precious metals with real world industrial and electronic uses.

Was the rake damaged? That's the main thing.

It's still in hospital in a coma. We're all rooting for it, but it's going to be a hard fight.

No matter how you look at it, you just benefited for having Bitcoin all these years. Why would you say it's dead when it's worth more than it was before your coma?