I am a true believer, which, considering I rejected both patriotism and Christianity as both insufficiently supported by the evidence, should give you pause. These were beliefs I was indoctrinated with since birth. Empirical skepticism is my modus operandi. So I wouldn't be betting my life savings on something just because I WANT it to work. It will work. If I made a wrong call and the market drops from here, you know who will bail me out? That guy with the sexy mother who hates my guts. He'll buy lower and someone else will buy lower than him. That's anti-fragile. The worse the price gets, the more attractive it is for someone looking to get in cheap.
Well, you can always hope. You also hoped that 530 was the bottom that marked the start of an uptrend. Let's see where these hopes will get you. I only find it amusing that you present your personal hopes as solid speculations. If it's your goal to amuse people with this entertainment, then no problem. |
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Yeah, I agree tgox most likely is not insolvent , but who knows..
Also the media is becoming more and more of a joke, in my country at least... most edcuated intelligent people take it with a pinch of salt.. such has been the decline of the "news" reporting in the past 15 years... it is not even news anymore it it infotainment
The ones who do not care for news- will not care who r what MtGox is, not remember in 7 weeks time (thanks Adolf)
The ones that watch infotainment and htink it is the news- they deserve what they get
The ones that used to like the news when it meant something- They will research for themselves
This will all blow over
The media may be a joke in an intellectual aspect, but it does have influence among the majority. Bitcoiners tend to forget how important is this halo of freedom and liberty that glows around bitcoin. Bitcoin is mostly sold by arguments that by investing in bitcoin, you are investing against global banking and you are pro-freedom. Most of bitcoin success has been caused by the failures of global banking and the increasing unpopularity that comes with it. If it turns out that bitcoin is no different, and you still have to trust fraudalent people for it to hold value, then it's very hard to sell bitcoin. |
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Yeah thats it....leave this corrupted, criminal territory where the bitcoinfoundation and Goldman Sucks are thiefing people and get into Litecoin instead....the cryptocurrency for peer -to-peer honest people !  I also think that when I'll invest back, then I'll probably start fresh with a new crypto. What I don't like about the Litecoin market, is the single entity (or as I like to call him "The Litecoin Butcher") with it's constant 2mil.$+ buy and sell walls at BTC-E LTC market. Considering the fact that BTC-E owners are unknown, then I seriously doubt that someone will trust this amount of money to them, if that someone isn't an insider. It doesn't make the market very attractive if you know that you are at the mercy of an single entity  |
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Actually a pretty impartial reporting on the BBC about the situaiton... it is quite clear that MtGox is the excange in trouble and not Bitcoin - according to the BBC anyhow... so yeah... guess not.
Also pay attention , the illicit uses fir Bitcoin are becoming less and less...
ps If there are "religious" belivers, does that make you a Satanist?
Just see what happens when sh*t actually hits the fan. What will sell in the media are the sad looking fathers of 3+ who are telling their stories how bitcoin promised them riches but instead took everything. There will be conspiracy theories how the banking indistry is behind these media reports, but actually what matters is what sells the most. This is if MtGox does turn out insolvent. I'm not so certain that they are insolvent and this could be a more complex scheme of market manipulation. Anyway, a smart trader won't trade during these periods of uncertainty. A risk happy trader will, but I think that "gambling" is the better word for it. So, I find it funny that some people are actually making serious predictions and are flattering themselves if they get anything right. |
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If you had any clue about this market, you'd know that nothing short of zombie apocalypse could destroy Bitcoin. Do you know what "anti-fragile" means?
Well, you are "a true believer".. what can I say. There is no point in converting someones religion. What I see, is that the majority already has doubts that bitcoin is an pyramid/ponzi scheme. When it turns out that people lost their money on gox, then the media won't care if mtgox is to blame. The story that will get published is that people lost their money who invested in bitcoin, because this is the hot subject. Bitcoin will be known as a tool for crooks like Karpeles for scamming people. Bitcoin enthusiasts will be ridiculed as cultists or just as simple-minded victims. Companies together with serious investors will want to distance themselves as much as possible. I believe that bitcoin won't entirely die by this, because there will be loads of religious people left behind who won't give up their beliefs. But it will regress into the play money status that can be used to buy drugs. Basically the same it was 2-3 years ago. |
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Have enough decency to make an accurate market call, then. Some guy dumps enough BTC to sink the Titanic and it's barely a hiccup on the chart. I was wrong about my $530 bottom call made BEFORE the Xaction malleability hack. I own it. I am not clairvoyant, but considering how much stress this market has taken, it could have been much much worse. It would be a shame if you lost out on cheap coins because you were juuust a tiny bit too greedy.
And if yer gonna try and insult me, at least try to be a little more clever. Have fun with it. I'm a big boy. I can take it.
I'm sorry, but if you had any clue about the nature of this market, then you would know that you could expect absolutely anything from this current period. So, any price predictions made from graphs are currently a joke. Too many things in the air that could destroy bitcoin if enough bad things fall together. The most knowledgeable way to trade right now is not to trade, because you can't know the needed variables if you aren't an insider. |
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I was around for the first big wave of video games (hence the mentions above) in the seventies and eighties, which was when the technology was truly brought to the masses.
So while your analogy holds some water you've also got to remember:
a) an original arcade 'Space Invaders' game is pretty valuable;
b) all the developments since owe something to the original.
c) these developments happened as people became more creative and adventurous -- much the same will happen with BTC.
And since BTC can be upgraded and modified, why would "we" throw it all out and start again. We stuck with html, we stuck with css. We tend to upgrade protocols rather than dispose of them. Don't you think?
I honor your life experience, and I think that: a) Bitcoin code will be worth in the monetary just about as much as 'Space Invaders' code is worth in todays gaming industry. b) I agree c) I also agree, but I don't see the developments happening with BTC, but with new cryptocoins, or virtual coins of any type. It's natural development that the monetary world will evolve with the information network. I think that the hype can hold BTC up for couple of more volatile years and then we'll have much better code to handle wealth and transactions. BTC is a nice technological innovation, but it doesn't cover the the basic truths of modern global economy and finance. It was never designed to be this big. And there is no development towards improving important properties. Most are affected by this "Cult of Satoshi" phenomenon, and think that the proof-of-work 10min method is actually perfect and needs no changing. There are practically 0 hopes for development in that field. So, I agree, that bitcoin could develop into something more. But when considering the past development and the overall mood of the community, then in my book, it's not smart to bet on that bitcoin will get it's sh*t together. It's more likely that bitcoin will develop into Litecoin/Peercoin, that uses the same code, but just with more developed package. But sadly, I think that the original bitcoin source, won't have much practical value in the future, and it will only hold historical value. |
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To me it seems the same, as if people would have told that "Spacewar!" will be the computer game that will be played by everyone for several decades.
"Spacewar?" ....perhaps Space Invaders or Asteroids. Personally, I was all over Phoenix. Did you play it? No, I wasn't even born then. Edit: No, I haven't played the one at the museum either. |
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To me it seems the same, as if people would have told that "Spacewar!" will be the computer game that will be played by everyone for several decades.
"Spacewar?" ....perhaps Space Invaders or Asteroids. Personally, I was all over Phoenix. |
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For Bitcoin to become obsolete, something better will have to take it's place. When something better takes it's place, bitcoin holders will have the opportunity to trade bitcoins for the replacement.
Yeah, exactly! That is why it's not so necessary to hodl. I also believe in this idea that bitcoin brought forward, but I just don't believe that bitcoin has a very long life left in it. I'm not telling here that bitcoin investors deserve nothing. I'll only say that eventually those will get nothing, who will go over the top with their hodling. Trading is the smart and profitable way to go. You only have to understand that the big fish are after the little fish. |
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Smart traders want profit. There are no smart buyers with bitcoin. If someone bought bitcoins when they costed less than 1 dollar without the intention to trade, they are smart. If someone buys bitcoins without the intention to trade and they are worth $1 million next year, then they are smart. If someone bought bitcoins when they were less than a dollar with the intention to trade, then they inevitably sold when they were $10 if they were smart, and therefore are stupid because they lost out on their bitcoins going to 1000 dollars.
Relativity invalidates your argument... like many arguments
To me, it seems common sense, that bitcoin will be obsolete after new developments in coming years, and with that, the units will lose value. So, I consider someone a fool, if one doesn't think that one has to sell their coins. To me it seems the same, as if people would have told that "Spacewar!" will be the computer game that will be played by everyone for several decades. I'm quite certain that bitcoin has a relatively short lifespan, but it does introduce the idea of open sourced monetary systems, and this will be placed high in history books. |
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OK! Chase that fiat!
Fiat, bitcoin, gold, seashells... doesn't matter. What matters, is what currently holds wealth. |
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The seller has engineered this move to rip the arse out of the dumb trading bots. These are mostly automated buy orders that are nibbling into his once 10K sell wall. HE is getting to shift 10K BTC at 'spot price'.....
pretty slick move.
It's not just for bots. There are plenty of people who are actually manually buying into this wall, because it seems that everyone else are doing it also. Some people are not very different from bots, when it comes to trading. Just look at this topic, and the people it involves. |
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Look, everyone are buying that big wall. Go and buy those "cheap coins" quickly!
Doesn't mater that this buying pressure just came out of thin air and no one was interested in buying 580$ coins before that big wall ;-)
Smart buyers want liquidity. Day tarders want to move the market. Smart traders want profit. There are no smart buyers with bitcoin. If someone buys bitcoins without the intention to trade, then that one sadly can't be smart. |
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Look, everyone are buying that big wall. Go and buy those "cheap coins" quickly!
Doesn't mater that this buying pressure just came out of thin air and no one was interested in buying 580$ coins before that big wall ;-)
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.. visible sell walls like that are bought back by the same people who post them. This is to stimulate demand and to demonstrate how high the buying pressure is.
You will buy into this wall, because it seems that everyone are buying into it and as soon as the wall breaks, it will go to da moon!
But really you are just helping one guy/group to get rid of his/its coins with a fixed price.
With an unregulated market system, it's not hard to be a 0% fee trader.
Then when he dumps the rest, he'll use the money you gave him to buy it all back lower, with a nice profit to go along with it. This is routine method in the BTC-E/LTC market. Rarely see this with STAMP/BTC though. Means that someone is desperate I think that's nice.. |
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.. visible sell walls like that are bought back by the same people who post them. This is to stimulate demand and to demonstrate how high the buying pressure is.
You will buy into this wall, because it seems that everyone are buying into it and as soon as the wall breaks, it will go to da moon!
But really you are just helping one guy/group to get rid of his/its coins with a fixed price.
With an unregulated market system, it's not hard to be a 0% fee trader.
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Hmm, interesting at stamp with the 8k sell wall. Usually only altcoins get these outrageous visible sell/buy walls, that will magically get eaten in an hour with a volume that equals the entire previous week. Don't be surprised if soon, it seems like everyone suddenly will start "buying" that wall, and then, after the wall has been "bought", no rise will come, only a slow downfall |
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AH HA! clearly oversold what do you say to that Mr IHaveNoBitcoins.  I say that I was somewhat embarassed by the failed prediction, but I will stubbornly carry on until the Chinese learn to pay attention to my postings. Traditional market trends don't mostly apply with cryptocurrencies. Remember, that bitcoin trading is done on unregulated exchanges, meaning that there is no regulation to stop an exchange owner from doing insider trading. Meaning that the price is probably set buy guys, who know the plans and routines of everyone else. The best way to speculate the future is to see, what is the most profitable way for the market owners. Trying to use traditional trends will only get you trapped more, then it will give you success. |
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