This forum reminds me of the GTAT forum (until Monday). The posts -- with almost a religious devotion -- claiming that GTAT was going to be huge soon because of Apple, and that investors were getting in early and were going to strike it rich soon. But alas, it failed, and the pigs got slaughtered.

I know most people here are first time investors and they think bitcoin is awesome technology or what not, and that's why they have to make all the comparisons with the Internet, the telephone or whatever when they describe bitcoin. It's a way to delude themselves into thinking that bitcoin is much bigger than it really is. Why is Wall Street not buying bitcoin, the currency? Because it's overhyped. They can see right through it, and they're staying out, and only investing some VC to extract potential value out of some of the start ups surrounding it.

Guys, I hate to be a wet blanket, but take a look at some of the stories on the GTAT forums, people got burned... bad. Lots of stories about losing years of savings. I know you'll all claim "this is money I can lose" because you're telling yourselves that there's no way bitcoin is going to zero. People said the same thing for GTAT. Like Warren Buffett said, when the tide goes out, we'll see who was swimming naked. I suspect a lot of you are swimming naked right now.

Be careful out there. I don't want to see the stories of people losing their retirement savings, or losing all the money that was earmarked for their disabled children or what not. Sadly, I know it's going to happen though.

agreed

falllling and his associates were correct about the market since he originally warned you all at $680. should have listened!

the Winklevoss ETF has been delayed for another year according to reliable sources on reddit!

www.reddit.com/r/BitcoinMarkets/comments/2i7bfn/has_anybody_tried_simply_calling_the_lawyer_in/

this is a strong indicator that it is undergoing further reviews and will likely be shot down!

even if it is cleared, it makes no difference. those who wanted bitcoin have already bought it, or they know how to buy it. the ETF does nothing to increase the utility of bitcoin!

"wall street is waiting for the ETF" is a myth, spread by bagholders to get greater fools to buy!

avoid dead cat bounces and use this as an opportunity to cut your loose!

I hate to be a wet blanket, but volume is too weak to signify a real rally. More sideways movement for a couple weeks, then back down.

edit: dead cat bounce

We're still in denial, as clearly demonstrated by the bulls expecting another rally to come. I don't think we'll hit the hope stage until we're back to summer 2013 levels, which is the true value of bitcoin right now.

when the market rises, it's people, and when it falls, it's a manbearpigwhale manipular. Got it.