@OP, I saved your ass last time when you wanted to buy in the 820s by saying we would see 700 soon. And I still don't think it is a good time to buy.
The OP seems a near certainty to get slaughtered. He aint even bought any BTC yet and he is getting all fixated with all the Bitcoin to a bazillion USD within the next 12 months theories, backed up with log charts with lines drawn on them of course. He has got his hands on 12K USD, and imagining what life would be like if he could multiply that by 10, 20, 30, etc Bitcoin will probably trend at $700 range for a few days. The OP will get impatient and will convince himself that Bitcoin has shown strong bottom support at $700 and that the trend has reversed. He will look to users of this forum for the bias confirmation that he wants to hear and he will of course get it in bucket loads. His attention span and personal bias will prevent him from even reading two single sentences from anyone who advises that caution be exercised. The OP will likely start entering the market right at this range. Within a few weeks, he will find himself around 30% underwater. He will look to this forum for moral support, he will again get to told to HODL, and be commanded to put as much new fiat as he can muster into these unbelievably cheap Bitcoins. Then Bitcoin will really tank as the true final capitulation hits. He will be 70% underwater by then, at which point, he will sell everything. As Bitcoin bounces back, he will jump back in with the little capital that he has left, right at the top of the bounce. Bitcoin will then slump back down. He will sell taking a further 40% haircut. Bitcoin will spend a period of time in doledrums before building up support for another bull-run. A bull-run the OP will not be in a position to take advantage off. The OP specifically said he isn't looking to flip it for a quick buck. I know you are still having trouble understanding how any could possibly not be a trader, but what if he just buys and holds? If he doesn't need the cash, and is happy with the risk that it could go to zero. It's a 50/50 bet that he could get more or less by waiting. I've also plunged in headfirst at $15 and then regretted it for months as I took a *87%* haircut on capital. I've also sat on the sidelines at $5 waiting for cheaper coins, missing out on picking up hundreds more, and then regretted that forever. 12k gets about 17BTC right now. If you believe in the moon or bust theory, thats not a bad holding... |
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im crazy. but I'm not *that* crazy  ok. Sorry to have bugged. Not trying to troll. Best to lurk I suppose. Edit: I don't understand (for sure); "not that crazy" Is it because I think my bet would make it go opposite? Did you think my bet was 0.1 btc of mine to 1btc of yours? I meant a 0.1 vs 0.1 bet if so. its because the price already went below $666  |
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Sooo... you traded that swing at least a tiny bit (to make up for the lost coin)?  alas no. but these prices are making me think about loading a bit of fiat onto bitstamp... |
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not sure if it's okay to still bet with you; Or if a nobody can bet?
I would be willing to bet 0.10btc. I don't have many BTC, heck you guys probably have more bitcoins than what I have in mBTC; so I can only offer 0.10 if you want /like.
*main reason: market always goes opposite to what I act on; not how I think / feel. E.G. by me placing this; It should go up.
I'll take Stamp as the refrence site as BTC-e would make it more in my favor (lol).
im crazy. but I'm not *that* crazy |
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im 100% pro apple. It's a paradox!
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oh sheeeeet.  best send me yo' address! |
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I think one of us is taking himself a bit seriously. I also think its not me.
You may say that but I am a late adopter and am rolling around a ball of capital in Bitcoin that is enough to live off for a year and I can't afford to have my mind polluted by utter bollocks. This is why I am on the defensive so much and perhaps this means that I may miss a trick or two, but on aggregate I make more money and more to the point in a clear bear market, I avoid losing money by generally being intolerant of people who disagree with me on what Bitcoin happens to be doing. Take you for example. Every single time we have had a little Bitcoin 'debate' events have proven you wrong. Every single time. As I type this, Bitcoin has just dipped below $750 on Stamp, so that is yet another example of you being wrong. I am here because I have taken it upon myself to have a vested financial interest in Bitcoin. If I let the aimless and frankly clueless ramblings of posters such as you affect my Bitcoin decisions, I would be seriously underwater by now. I wouldn't even be in a position to be arguing with the likes of you on whether I should short or go long on Bitcoin at $820, because I would still be holding on in vain for Bitcoin to get back up to $1100 just in order to break even on coins that various other Bitcoin Nutters insisted that I should hold, and then implied I was an idiot for selling....and btw, I can't go short Bitcoin now cos my instincts told me that Bitfinex was not to be trusted so I shifted my funds off the exchange and then 3-4 days later the site gets hacked. So now I am just a bear waiting on a good time to become a long term bull and I think I may have to wait some time yet. Can you see why I am perhaps a bit hyperphobic towards other peoples bullish in the face of common sense 'opinions'? If I had allowed them to affect me, then it would have generally meant that I lose money. I hate losing money more than I like winning money. Every time you say i have been proven wrong you miss the simple fact that the game isn't over. |
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this thread scores 9 proudhons out of 10, or 9 'poots'.
great effort
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I don't care about winning your £50 that you thought would turn into £100 if you called it right. If you wanted to make that bet in real money, I would have met it and used an appropriate amount of Bitcoin to transact the amount of real money had I lost. But I was never going to lose, cos I was betting against you, and like most of the broken records on this forum, you are only ever right when the market is going up. ITT  I think one of us is taking himself a bit seriously. I also think its not me. |
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Ok the HODL bullshit has gone long enough.
What it boils down to is the price of Bitcoins has risen to such an extent that most people can't afford them. (notice the plural here guys!)
This results in the current situation: Everybody is sitting on their capital gains and spam the HODL bullshit all over the forum in the hopes that other people don't realize their gains. From this perspective it even makes sense to spam the forum with HODL you are currently in the process of liquidating. Withdraw limits from the exchanges make it necessary to keep the charade up as long as possible.
Will Bitcoins be even more expensive in the future? Possibly.
Does the HODL bullshit have anything to do with it? Certainly not.
Damn straight I aint buying these expensive sons of bitches. But everyone else should cos they are going to the moon. |
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I believed the money printing => hyperinflation theory for a while. Then I decided thats exactly what we are being sold. I think the reality is that all that QE isn't going into the economy in the way one might think. The banks have been running the fractional reserves / derivatives racket for the longest time. All the talk of toxic assets is cover for the real problem, which is that the big bank balances sheets are so stuffed with trillions of dollars of imaginary money that its now untenable. QE isn't putting money into the economy, its unwinding the debt merry go round. It's huge transfer of debt away from the banking system, into /dev/null, so that the banks can get back to business as usual. Its the mother of all bail outs, only this time its in secret. Do you really think the numbers we were sold, were the true extent of the problem? I believe they gave us the tip of the iceberg. Throw out a red herring so no-one asks any more questions... Thats why we won't see hyperinflation, because none of that money will ever make it near the actual economy. It's all being sucked up by the banks. Thats why the market is going to do exactly the opposite of what MSM says, just like it always does. Since 2008 the promise of the *real* crash has been flaunted. You ain't seen nothin' yet, apparently. Yet the last 5 years have proved to be a great run for equities. S&P and DOW are both up around 100%, NASDAQ not far off 200%. Everyone is talking about the stock market crashing the last few days. Sure its down 5 or 6%, but then its also had a pretty much straight run up the last 4 months. Seems like a health retest to me. Meh, what do I know. I think a sound investment strategy is 90% crypto |
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your word is good enough for me Man the harpoons! its whale hunting season! If I get them all then price will go nowhere hehe |
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I am bored of the current price action. I will therefore consider taking you up on the offer, just for shits. I actually expect to lose the bet, but I see a non-zero chance that there may be a sell off which takes us below $666, and gambling is fun. Would you consider going by BTC-e price to improve my odds slightly? Also would anyone else consider splitting the bet 50/50 with me? (1 BTC/$800 is a fair amount, especially when you're not expecting to win).
Edit (for clarity): I'm happy to go with the full 1 BTC but would prefer to split if there are any other takers
Why fella, me lad, i like the cut of your jib. 1BTC to the winner it is! Happy to consider both stamp and btce. (and even gox if you like just for the laugh!) cards on the table, I agree there is certainly a chance of a crash, about as much as another runup imho. As you say though, whats unbearable is the boring sideways action. This is totally about tempting fate for me See you on the other side! |
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haha no not gox stamp or btce would be fine! |
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Failed with MatTheCat, failed with smoothie, so starting my own thread I think there is someone on these fair shores that is speculative enough that they will take me up on a BTC bet about where the price is going. I'll open with 1BTC says it stays over $666 until the end of feb. Take it. Leave it. Counter offer. Im only looking to risk a coin or two so don't go crazy |
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Isn't this old news? Or did I miss something? Submitted by Tyler Durden on 03/25/2010 very old |
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