lol

I don't get it.

What I do get is their exchange and money transmitting business and it's principal long term profitability, and that they represent an important name related to Bitcoin.
I don't think they have any other business model, don't think they have any use for investor capital and I see it questionable if they stand up to scrutiny once regulation comes through.

But what the hell, I better not complain.  
The more risky business done with more money when it comes to Bitcoin, the greater chance there is for another hilariousity meltdown. I guess whoever slung a cool 75 mil at them couldn't wait for the fat chance that after regulation there could be others dumping even more in.

Remind me, what does coinbase again, exactly?

That just sounds far less funny than it actually is.

The thing with the face of Bitcoin Cultists is they become villains after some time.

like this guy: http://youtu.be/zeJSRboDb2A

They then become the face of the Comedy Cultists, this happens consistently
... and they never go back.  

Don't you people have any kind of self-awareness?

Normally I don't do EW, but this seems blatantly obvious to me.

Or can somebody invalidate that count?

You better never tell that a real Elliott follower. There are people who believe in this stuff.

What this boils down to is bitpay & co and the claim that this means merchant adoption, which I view as fishy.
If there is an adoption bubble that would be what it is centered about.

By alot you mean pretty much everywhere. The thing is consumers don't care about fees if they come out of the merchants profit margin, which they are if prices are the same for other payment methods.

It's a valid count, nothing more nothing less. That means it can happen that way, it also means that in hindsight it could turn out differently, and that after wave C where price is around 1.62 times of wave 1 (32*1.62=$51.82)  it can lead to another, larger cycle which means another ATH beyond $1200. Mind you can happen, not must happen, it's also in the realm of possibility that this was it and Bitcoin is a FAD, in which case many analysts will say they have predicted it all along. (Which they will probably do in either case)

There can also be another valid count in which 266 was actually a sub-wave and 1200 was wave 3, but it doesn't invalidate my count, as of now. The thing is bulltards always say we're at wave 3 since it means we will be going up, uP, UP for the longest time. The tardiest of all bulltards even think wave 3 still hasn't ended.

Bullshit

It doesn't matter what you or anybody else thinks, if it's a valid count all you can do is see if it turns out to be the right count later on.

It went from cents to $32, to $2. What happened after didn't create a new high or low until $266.

32 was wave 1
266 was wave 3
1200 was wave 5

everything in-between were sub-waves.

It's the first time that price went below the high of the previous cycle.
Elliott Wave followers call that wave A.

This also means that for the first time Elliott Waves can be drawn as such that the price will never ever go higher.

the first one i found funny, there is hope yet.

I think how that is accomplished is fairly easy. The backdoor or security vulnerability is left open on purpose by operators, and when the time is right is exploited by the persons who left it there in the first place.
The result: If done right there is plausible deny ability if the "hacker" ever becomes a suspect in any criminal investigation.

That goes for the more sophisticated scams, lesser ones probably just cut and run..

Keeping the proceeds from silk road and stashing them, thus shortening the supply.
It's scams, all the way down.

It's in the sense different to the tulip mania argument that it doesn't aim at the price as an argument.

What this is about is utility. Everybody who owns a TB-303 does so because they are into Acid, a style of electronic music and they want to own an authentic instrument.  That is the case because for any other style of music the TB-303 isn't as well suited as other instruments, and hence others aren't willing to pay the market price.
This is also why prices don't crash, even when there is an abundance of alternatives.


With fads people buy stuff because other people did, even if they don't have a reason to own it. Price bubbles are just a symptomatic of the fad-iness, not an argument about systematics.

That's not what I'd call success. The TB-303 was meant as a replacement for bass players for solo musicians, and it flopped so hard that production barely lasted two years.
It eventually became sought after because it has something unique and useful.

If Bitcoin stays the de-facto currency of the dark web this would be the case. The issue is it has gone beyond that which are more characteristic of a fad, like using it for online retail or as an "investment".