Your wave count has been dead wrong.
You missed 90 pct of the up-move.
I bought coins at 6 cents and again between $3 and $5. The explosion from 6 cents *drawfs* the move from $50. Those were the best buying opportunities: buy when there's blood on the street. I don't like to buy when everyone loves Bitcoin, and we didn't reach a negative enough sentiment during the decline that happened last April. *Of course* a contrarian methodology is not perfect - obviously! You are not telling me any new information. And anyone who believes a perfect methodology exists obviously has no market experience. But contrarianism has worked well for me over the long haul, especially the killing I made during the 2008 crash when all my friends were losing their shirts, an event that we are likely to repeat soon. I may have been too early on stocks but given just how much more profitable stock market crashes are than equity bull markets, it won't matter. The magnitude of overbullishness and the length of time stocks have remained overbought should be commensurate with the size of the next bear market I can't stand these hindsight biased comments, but I recognize the psychological tendency Congrats. You're an early adopter. I hope you've never been going SHORT since you are calling the top! I'm a late adopter. I bought at 29.-, and I'm very glad today that I did not listen to those wrong wave counts. Otherwise I would have sold at 50.- or 80.-, which would not be funny today. |
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I am 100% an optimistic bear.
Not just because "I want cheap coins" (I do want cheap coins of course) but I am an optimistic bear mainly because of the Elliot wave theory, as it suggests that we should go down one more leg If my count it correct.
Right. The long-term count since the inception of the currency shows a completed impulse. That's a big deal. Your wave count has been dead wrong. https://bitcointalk.org/index.php?topic=131065.msg1730809#msg1730809You missed 90 pct of the up-move. |
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It seems that opinions on Bitcoin are primarily divided into two categories:
(1) BULLS: People who grok Bitcoin, and thus are perma-bulls
(2) BEARS: People who do not grok Bitcoin, and thus are perma-bears
I would like to propose a third, new, much rarer category:
(3) OPTIMISTIC BEARS: People who grok Bitcoin and believe in its future, yet acknowledge that, at present, Bitcoin and especially alt-coins are still in the midst of a major speculative bubble that must deflate before the next growth phase can begin.
If you're in category 3, then please join me in this thread. Welcome to the home of the optimistic bears. I would like to hear from you.
But you are not one of those in category 3. You are not only 'at present' bearish. You've been bearish all the time while the price climbed up 1'000 Dollars. |
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Bitcoin is software and a p2p network. Bitcoin is FLOSS. Also its protocol is constantly being adapted by social consensus and not by any sort of central authority. Its creator, Satoshi Nakamoto, never did a single commentary about "investing in Bitcoin", nor the core devs... So tell me, how could Bitcoin be a Ponzi Scheme? if you think about it the old-fashioned stock market seems more ponzi than bitcoin  Yes, market/economy/society is a centralist, collectivistic monster. Crypto/p2p is THE revolutionary tool to bring all of that to an end. 10'000 years of collectivism and citizenship (instead of humanity) is enough.  |
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So lets say they are paying 2% on plastic charges.... 1% for bitpay. So a 1% saving on every transaction. That's $5,000 in added revenue/savings just by accepting bitcoin. That's pretty cool.
Lets say 1%?? Why should we say such things? https://bitpay.com/pricing |
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Black market coins dumped on exchanges
Mt.Gox failing
China ban hammer part II
Negative US regulation
So many probable circumstances that can make bitcoin dip below 600, it's almost guaranteed.
Then you should bet as well, if it's almost guaranteed. Talk is cheap. |
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4432 client downloads this week. Since the gambling is over, these are buyers (hodlers). Only fools believe that this is bearish.
In the longer run, state terror is bullish for bitcoin.
I'm not against bitcoin, but the optimism I see here around China is just utterly laughable. China has the largest authoritarian government in the world and if you think it will allow bitcoin, you are delusional. Yes, state terror. That's why people buy bitcoins there. |
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Anyhow, bitcoin in China is over and only fools are currently buying.
4432 client downloads this week. Since the gambling cooled down, these are buyers (hodlers). Only fools believe that this is bearish. In the longer run, state terror is bullish for bitcoin. |
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Erm why are we discussing drugs here ? Is BTCchina selling drugs now  For some reason people like to use drugs and prohibition to support an argument that the btc economy will retain the same strength even if bitcoin is banned by governments. I think drugs/prohibition and bitcoin usage is a loose and exaggerated relationship in that regard. So do I. Financial freedom is far, far more important than using recreational drugs. Yes. Now some gamblers only are disappearing, while the freedom fighting movement is growing steadily, exponentially. Government terror has been the driver of bitcoin from the very beginning. That can't reverse with ongoing terror. |
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The government works in an anarchist environment. There are no rulers, each entity is sovereign. It is unlikely that all will do the same, the market will make sure there is diversity.
Imagine that there were no slaves, all individuals a sovereign.
There was never any government in an anarchist environment. Anarchy is where you are not governed: In some last territories in the rainforest and in the arctic tundra; and 10'000 years ago everywhere, before the birth of the tragedy: the invention of organized violence (state and church). So who in fact governs the governments. We the people, the brainwashed sick collectivists (citizens), the 'living' cartoons of the former human. |
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The government works in an anarchist environment. There are no rulers, each entity is sovereign. It is unlikely that all will do the same, the market will make sure there is diversity.
Imagine that there were no slaves, all individuals a sovereign.
There was never any government in an anarchist environment. Anarchy is where you are not governed: In some last territories in the rainforest and in the arctic tundra; and 10'000 years ago everywhere, before the birth of the tragedy: the invention of organized violence (state and church). |
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any thought?
Then the democracy (civilization/collectivism/idiotism) will be discredited and dead even faster than at the actual pace. Civilization would collapse even sooner than it will anyway, without this specific action. The rebirth of anarchy and humanity would come sooner. |
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Yes, fiat currencies are backed by guns. We who invest in Bitcoin are risking our money in order to have a currency NOT backed by guns. We are only risking our money. Many, many others have risked and given their lives for the hope of freedom. You may be underestimating what a powerful force the love of freedom is. This may not be rational, but it is very very real. Bet against it at your peril.
Divided Guns vs the Greater Consensus. who will win? John Gilmore http://en.wikipedia.org/wiki/Cypherpunkhttp://www.activism.net/cypherpunk/crypto-anarchy.html |
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Has anyone read this? If so, what are your thoughts.
Thanks,
Ross
These 'economists' are cheerleaders of the state mafia. They are promoting nothing less than organized violence: Krugman: "Fiat money is backed by men with guns; Bitcoin is not. So why should this thing have any value?" http://www.businessinsider.com/paul-krugman-on-bitcoin-2013-12 |
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Thanks for that post - now that's something to work with! The Gross World Product (GWP) is currently around 80 trillion US$. (That's a US trillion, a British billion.)
Wouldn't the GWP be all the money the world economy turned over in a given period of time? How is that related to M2, M3 or whatever? When you got some money on your account or under your mattress, it counts for the M's, but doesn't do anything, so doesn't count for the GWP. Worldwide money (which is debt) is 200 Trillion. |
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Real productivity will rise because we won't have to contend with the destabilising forces of debt resulting in financial crises.
People who live beyond the state and beyond debt (in a community with humans instead of a society with citizens) do have neither an economy nor productivity rise. They are self-sufficient and do not need to grow rampant. They live nearly the same way as thousands of years ago. A growing economy is the result of debt, and debt is the result of the tax (tribute), which had been institutionalized about 10'000 years ago. |
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So bullish long term but bearish short term because the current btc price is a float lockdown play.
Yes, on the one hand it stimulates the adoption and on the other hand it stimulates the hodlers to unhodl. |
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State terror is good for bitcoin. Governments and banks and economists are telling that bitcoin is evil because more and more people realise that governements, banks and Fiat is evil.
"Fiat money is backed by men with guns, bitcoin is not. So, why should this thing have any value?" Krugman
This is the ethics of the minions of the system.
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$830 is continuing to act as massive resistance. This is good news for the bearish case.
Unfortunately you are wrong again. It is bad news for the bearish case. |
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