Nope, this is elliott wave theory guys, the price is gonna hit $30, then $100. Bitcoin is undervalued, now that people understand it, they will hold tight, the market matured significantly since last summer's high of $31.90. Perhaps, we could see $100 before the end of the year  I agree that both the market and the infrastructure has significantly improved, but I have a hard time accepting that the improvement is worth this much. |
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Seriously? WTF is going on? This makes no sense.
We won't stop until you take down that bear. I can't speak for Proudhon, but this kind of momentum is making me more bearish. It's too fast, for too little of a reason. It smells like bubble. I fully expect we'll visit the $6s again. The first person to sell a few thousand will start a sell off. |
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Silverbox Update:
Gold: -6%
Bitcoin: +71%
Diff: +77% advantage Bitcoin
It's a little silly to gloat about these most recent movements. They're going to be corrected. This simply can't last. |
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Seriously? WTF is going on? This makes no sense.
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Title: "WTF? Chill out guys. Srsly!"  |
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Dont know how much longer you can keep the ball under the water One big sell off and this will trace back to 7.50-8.00 if not lower go away, we don't appreciate your kind here  He's right, though. |
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The next move has to be down.
Care to give a rational explanation for this? Have any fundamentals changed since the rise from $2 to $8? I didn't mean the very next move. But this is going to pop soon. |
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I am creating this thread to discuss and share with you my thoughts and expectations about BTC price by the end of 2012. I am expecting BTC price to reach $25 by the end of 2012 and here is why:
When BFL started to accept pre-orders for FPGA Singles end of 2011, Bitcoin price kept rising until it reached "$7.25". Such rising period took around 3 months, and when BFL started delivering the Singles, BTC price started to move down slowly toward $4. Actually it move down from $7.2 to $4 in 5 stages. Now BFL is accepting pre-orders for ASIC. There is no doubt that the price of BTC is gonna double "once again", but this time from $5 to $10 "already started and at the time of this writing BTC is @ $8". The amount of money needed to invest in ASIC devices is almost double the amount needed to invest in FPGA. To be more specific, the amount of money needed to upgrade FPGA/GPU farms to ASIC is almost double the amount of money invested in such FPGA/GPU farm from day one "to be able to get the same reward when ASIC hits the network". So if the amount of money that will be invested in ASIC "by the last quarter of 2012" will be double the amount of money invested in FPGAs "last quarter of 2011", you should expect BTC price rising more than double "$12 to $15". At that time the block reward is gonna be reduced to 25 BTC instead of 50 BTC, so this time when BFL delivers ASIC BTC price is not gonna move back as it did when BFL delivered the FPGA Singles, but it is gonna start a new rising wave. For that am expecting BTC price to reach at least 20$ by the end of 2012 beginning of 2013. I already started saving as much BTC as I can, and you can consider this thread as an invitation for you to join the party by saving as much BTC as you can.
No. |
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There is nothing to see here..  Tizzy, Any word on the next move? The next move has to be down. There's no way prices will stay above $8, and I think the price needs to test the upper $6s before moving up any more over the next several months. |
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Proudhon, you promised to take down the BEAR if we hit $8. so TAKE IT DOWN!  Dammit! I can't, man! |
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I have physical health problems and need to see a doctor, but haven't had the time. On the forums I'm called a scammer and repeatedly insulted. Someone is trying to sue us. My bank gave me crap and held my money. I was borrowing cash from friends and spent 3 days eating bad muesli and cheap milk. I lost a lot of code by accident. I put a lot of work into the bitcoin.org clients page to make everything fairer, and now it will be removed, helping to recentralise bitcoin again. Electrum maybe has a security flaw and Macs have random problems. The conference needs the CFP announced soon, but I have to deal with Bitcoinica first. My health is suffering and im getting headaches. Right now is the first time I'm feeling depression, and I'm a little worried because I've never had it before but my father did. I emailed a health professional and they advised me to seek help. I've started sleeping very long, being very lethargic and apathetic. When the Bitcoinica thing first happened, I was considering suicide until Tihan said he had the funds.
Ok, that's a bit scary. Someone needs to get in touch with genjix, make sure he's physically ok. It's a bad situation, but certainly not one worth ending yourself over. This too shall pass. Yeah, that concerns me, and it's a big part of the reason I think the witch-hunt mentality ought to be dialed back. Maybe it's all a scam, maybe Amir is playing us all, but there's just no way to know right now, and the possibility that somebody is that seriously ill over all this is enough of a reason to be careful. This whole situation is horrible, but it's not worth somebody's life. |
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What else is there to say, really?
July 15, 2012 - We are sad to report someone has broken into our home and taken our laptop containing the cold storage wallet for the remainder of the bitcoinica funds. We didn't think to encrypt the wallet because we thought it was safe. Sorry  They might as well hurry up and get on with that announcement then. |
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it's really astonishing for me that after 70+ pages of dicussion, genjix has been able to remain silence.
What else is there to say, really? |
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What a shame, this is really impressive, seems that the security of Bitcoinica's funds is directed by a pigeon.
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This is something I have considered, It comes down to "do I think bitcoin will fail" my answer is no.
If you sincerely believe that and you think the price is likely to go up over the next couple years, then you should be buying bitcoins instead of mining equipment. |
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Greater than a decade, if it lasts that long.
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Which is BS since you can be a level 47 verified and you all will sit on a wire transfer for weeks. Especially a larger transfer.
No BS here. As I said before and as Mark explained, we cannot discuss these details here, however I strongly advise you to read the 20 (pages) of this thread. PS. We are on your side not against you. Just want to pop in and say thanks to MtGox for pursuing this. |
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You come from a middle class family, dont have much money left, but enough to just donate 5000btc for this? Dafuq?! 5k btc is a lot of money imho
You're right. It is a lot of money. But it's only 1/5 of one forum members bitcoinica losses. |
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As a Bitconica customer: - I had no positions, no leverage, and was using it as an interest bearing savings account.
And now *THIS* happens? When will you people learn that there is ONLY ONE VIABLE TYPE OF BTC SAVING ACCOUNT --> heavily encrypted and backed up bitcoin wallet/brainwallet/paperwallet in a secure place ? That's exactly what I took away from this when it started several months ago, and I haven't looked back. I control the vast majority of my bitcoins now, nobody else - paper wallets and brain wallets. People need to internalize this. |
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