Hate to break it to you, but we're all gambling on the future of bitcoin. It could crash to $1 tomorrow on some type of devastating news, and a lot of people would lose a lot of money.
Not true, I have mined/earned all my BTC. I lose nothing if BTC plummets. I use the electricity that comes free with my rent. I hope BTC flourishes into a useable currency, but if it doesn't I will not lose anything. Nice fallacy there. You believe you "lose nothing" because it is "house money", yet you accuse others of gambling? Quite amusing.  |
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Have a look at 2008. Gold DOWN, stocks DOWN.  |
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P.S. No way we'll see a multi-year bear market. Maybe a shift in the overall exponential trend to a slightly lesser (but still exponential) rise, but I'm convinced within 365 we will see a new ATH.
Following the 32 top, it took 1 1/2 years to make a new alltime high. Why do you guys think it cannot happen again? Or happen even worse? In 2011, things looked awesome too. But then came the bear market, 6 months long, 95% loss. Slowly, progress was actually undone as merchant acceptance dwindled etc. Why? Because the price fell. It is all feedback loops. The price does cause the news because it triggers or "unlocks" certain events, and the news is reflected in the price before it comes out, usually. Practical example: Had the price not risen so much so fast, the Chinese government wouldn't have done anything yet, probably. And, is it not easy to imagine that insiders on the chinese exchanges held back buying before and instead sold, which reflected in the chart patterns? Why could it not happen again? The reasons are pretty obvious. Adaption on a much larger scale. Investment on a much larger scale. Acceptance on a much larger scale. Eco-system on a much larger scale. etc. etc. etc. 2011, Bitcoin was no even where LTC is today regarding these factors. Crypto currency was a pimple on the butt of obscurity. Yes, all of this is now on a larger scale. And that is why the price is on a larger scale. |
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Anybody find it VERY interesting that BTCChina is more resistant to the downtrend and at a fairly higher price than the other exchanges.
Seems like a disconnect to me. If this rally is predicated on China's bitcoin policies, then why are the chinese less bearish right now?
There is a possibility that the Chinese payment processors/banks are no longer willing or able to interface with the exchanges, and thus, CNY could be trapped and ultimately worthless, leading to a complete decoupling of the Chinese exchanges. Endgame would be that all bitcoins are withdrawn and there are no more trades. It's something I am watching, anyway. |
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P.S. No way we'll see a multi-year bear market. Maybe a shift in the overall exponential trend to a slightly lesser (but still exponential) rise, but I'm convinced within 365 we will see a new ATH.
Following the 32 top, it took 1 1/2 years to make a new alltime high. Why do you guys think it cannot happen again? Or happen even worse? In 2011, things looked awesome too. But then came the bear market, 6 months long, 95% loss. Slowly, progress was actually undone as merchant acceptance dwindled etc. Why? Because the price fell. It is all feedback loops. The price does cause the news because it triggers or "unlocks" certain events, and the news is reflected in the price before it comes out, usually. Practical example: Had the price not risen so much so fast, the Chinese government wouldn't have done anything yet, probably. And, is it not easy to imagine that insiders on the chinese exchanges held back buying before and instead sold, which reflected in the chart patterns? |
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MtGox is looping again.
Look how much money they make, yet it is not fixed.
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Never quite understood the mentality of bashing the "weak hands". If it weren't for them, you (and I) would have never gotten our coins in the first place (unless you're a miner). Trading is necessary. Everything else (price swings, bearish vs bullish sentiment, trigger happy traders vs. "strong hand" traders) follows as a direct consequence of the previous.
In bear markets, the weak hands dump USD. |
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Disregard lucif at your peril.  I'm glad he still shares with us. |
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He answered. So after two years, this thread is now somewhat resolved. |
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You all know what I smell.
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Please just keep it to one personal thread. One per day clutters up the forum too much.
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Thanks Nagle, at last I am satisfied. |
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I think we've had enough of your repetitive threads, Atlas.
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Nice bid there at 900. Resistance becomes support.
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This is crazy! Does people think that <900 was expensive but >900 is cheap?
It's called resistance. When it breaks, it's free to move up. |
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MtGox ATH in 3, 2, 1 …
Aaand done.
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It's fascinating how with 3 big exchanges, they keep switching roles where sometimes, one behaves differently than the other two, and either the two follow or the one follows.
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Big money wants in, don't be fooled by the big fish who patiently waits for cheaper coins.
This is no 2011, the stakes are much higher this time.
Big money doesn't buy 10% below the ATH. You are a funny guy. |
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