What would be dead is the inflated expectations of a few overzealous people. That's all.
So it's greedy if a bitcoiner buys a bitcoin sometime, ANYTIME in 2014, and expects it to more or less retain it's value? Should no one have bought any bitcoins AT ALL in 2014 and held them? Honestly answer the question. 2014 is nearly over, it's been 10 months. Maybe not greedy but naive? Bitcoin went up x100 in 2013. Do you expect this to just maintain its value without major corrections? If you want to retain value short to mid term at least, then Bitcoin is not the asset to do that. Bitcoin is an asset to look for high growth, and with that growth comes the cost of RISK.
Sticky please. First post everyone should read who enters this forum. This is what frustrates me about the constant touting of bitcoin as a "store of value." Ask anyone who bought in during 2014 how that's working out for them. Ask anyone who bought in during 2014 how expectations of higher growth are working out for them too. So what's left.... currency usage? Yeah ok. |
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What would be dead is the inflated expectations of a few overzealous people. That's all.
So it's greedy if a bitcoiner buys a bitcoin sometime, ANYTIME in 2014, and expects it to more or less retain it's value? Should no one have bought any bitcoins AT ALL in 2014 and held them? Honestly answer the question. 2014 is nearly over, it's been 10 months. Maybe not greedy but naive? Bitcoin went up x100 in 2013. Do you expect this to just maintain its value without major corrections? Naive? So welcoming to all the thousands of new bitcoiners this year. I'm sure they'll have great stories to tell their friends and family about their bitcoin experience so far this year. I'm sure they'll be eager to buy more. And I'm sure that won't do ANY damage whatsoever to the bitcoin ecosystem. |
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What would be dead is the inflated expectations of a few overzealous people. That's all.
So it's greedy if a bitcoiner buys a bitcoin sometime, ANYTIME in the year 2014, and expects it to more or less retain it's value? Should no one have bought any bitcoins AT ALL in 2014 and held them? Honestly answer the question. 2014 is nearly over, it's been 10 months. |
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I guess we're now re-testing a very very long term support line. This is worrying! If we break below $350 - I don't like this saying at all usually - we're doomed!
And why would that be? You probably would have said the same in 2011 about $4. Because going down about 80% is generally a very very bad sign about effectively anything tradable. If nothing else, it will send a terrible signal to people watching Bitcoin. ~94% drawdown in 2011. ... which stunted pretty much all real growth for the following 18 months... Really? I remember 2012 as being a very productive year. Bitpay alone came into existence back then. Sure, the price took a breather. Is that so bad? It is when it takes 18 months to even get back to a $10 bottom. And it took 18 months for the damage it did to the community enthusiasm to be forgotten, both by those that got burned as well as the media. |
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I guess we're now re-testing a very very long term support line. This is worrying! If we break below $350 - I don't like this saying at all usually - we're doomed!
And why would that be? You probably would have said the same in 2011 about $4. Because going down about 80% is generally a very very bad sign about effectively anything tradable. If nothing else, it will send a terrible signal to people watching Bitcoin. ~94% drawdown in 2011. ... which stunted pretty much all real growth for the following 18 months... |
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I guess we're now re-testing a very very long term support line. This is worrying! If we break below $350 - I don't like this saying at all usually - we're doomed!
I truly think we're fucked if we cross that point. It simply shouldn't go that low if Bitcoin is healthy. If we cross it then there is something seriously wrong and there will be a good chance it won't go up anymore. Actually, I would look at it differently. If we go that low, and people really do start cashing out at a major loss, then we're looking at another 2+ years of slow sideways before even getting near the last ATH. Because no matter how revolutionary bitcoin may be, the Average Joe just doesn't care enough to continue to lose money. Period. Even the average bitcoin enthusiast expects SOME level of growth. |
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Why is it that almost everybody in this thread is long and I am probably the only one short ?
The trend was down, it hit major resistance, it failed to rally on good news. Why would you be long in this market?
Why is everybody saying "YAY! Cheap coins" ??
Why are you trying to catch a falling knife? This might be the bottom but its highly unlikely its the bottom. It could go down another $50,$100 or $200 before it reaches a bottom and finds support.
The cheap coins argument. I'm so tired of it. How many more years will peoole be cheering that we're going down? Every drop since 1200 has been totally fucking awesome because "cheap coins". We dropped to 900! Awesome! I'm buying all these cheap coins! 700! Perfect! I'm buying! 500 woooow cheap coins! I'm buying. 450! I can wait for 300's buying them cheap coins! 250 this couldn't be any better. Buying here! 100 fuck i'm buying. 1 cheeeaaap coins i'm buying! Bitcoin dead but fuck that i'm sitting on all these cheap coins! The ShroomsKit argument. I'm so tired of it. Actually ShroomsKit has a point. Both traders and holders rely on buying low ONLY in the hopes that it goes up from there. But what if it doesn't? From a holder perspective, anyone that bought any bitcoin this entire 2014 year, would be sitting on some kind of loss right now, unless you just happened to be so lucky to get one at $389 in one 4 hour period this year. Think about that for a moment. Any of the hundreds of thousands of new bitcoiners that bought bitcoin this year have never seen a bitcoin go up in price, EVER. Only down. |
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When everyone wants this, it won't happen.
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I feel dumpers running out of ammo, and shorts will have to cover soon.
This thing could bounce like a Mofo.
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It's kind of amusing that so many of you have ignored me and I advised you to buy PPC 4 days ago. I still advise you to do it, because the run isn't over.. but.. who will listen anyway?  Traders are only using PPC as a temp safe haven. They don't really care about the coin. The $$$ will start fleeing back to btc once the bubble pops. |
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If we go sub 340, I will make THE hardest decision of my life
Buy hi, sell low? Good luck with that.  |
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Got all my available fiat ready on Bitstamp  USD 300 and i´m all in! Might be the worst misstake of my life, but i have faith in BTC. You guys crack me up, always setting bids $80-100 lower than it will go. Don't worry, your order won't get filled. |
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only 21 million people can have one bitcoin at any one time.
I keep reducing that number every single month. |
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Quick, someone post some more good news so we can drop to 200. Then MatTheCat can appear and say he was right all along.
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Because I think we are on the brink of some exciting things very soon here I would like to reminisce a bit. For those of you that don't remember what it was like a year ago, Bitcoin had a pretty boring Summer. We had many posts about being tired of the price stagnation. Bitcoin wasn't appearing to go anywhere. It was very much a time like this one. I really don't think there was a huge sense of urgency to buy. Most people waited. The price did more a little after the Silk Road bust then rebounded to about $200 for a couple weeks. Many people thought it was just going to go back down. But then within a few short weeks the price rose to over $1000. All this to warn newbies that things can change very quickly. It is almost like it happens when we least expect it. And don't be in denial when the price does start moving upwards that it will move back down. Sure, it could, but it could also move past our last ATH in a manner that is beyond belief. Just think about it. There is a reason some of us are such devout holders. You're right, it will definitely happen again. It's not a matter of if, only when. It scares me more to be sitting in fiat than in btc, because it can rise so fast. Which is why I'm pretty much all in and still buying more on the dips. I sleep better at night that way. I may grumble a little bit here and there about the current state, but in reality I'm not sweating this at all. |
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I have a private exchange set up, where all my btc are at $580. PM me and I'll gladly sell you some for that price.  |
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i'm convinced.
Me too. No one should be in BTC right now! According to some very knowledgeable insiders on this sub, apparently Coinbase and BitPay will be completely switching over all of their existing merchants to XMR, NXT, PPC, and Ripple. Oh, and the Bitcoin core developers are rumored to abandon Bitcoin and join IBM for their Ethereum fork project. |
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