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963
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: December 18, 2013, 06:34:46 AM
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Never trust a proudhon. Price can't go much below USD$200 now without starting to squeeze margins on a large portion of miners. The next wave of input cost pressure should hit at around 50-100,000,000,000 difficulty, just as it helped kick off the price rise after the 100-200,000,000 level. As long as we get back to business as usual after a few more bouts of panic selling, that is. War is on, got popcorn? 2011->GPU saturation, available now Difficulty even declined for several adjustment periods. April 2013->ASIC adoption beginnings Difficulty continued to climb until price caught back up. Now->ASIC nearing saturation? Available now. |
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964
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Economy / Speculation / Re: Goomboo's Journal
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on: December 18, 2013, 06:31:29 AM
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Daily Goomboos should have sold around $700. Not bad for a few hours, not that Goomboos care for quick profits.
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966
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Economy / Speculation / Re: It's over. The Ponzi scheme is coming down. Goodnight sweet bitcoin.
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on: December 18, 2013, 04:46:34 AM
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In case anyone has forgotten, OP is against bitcoin for political/social reasons. His/Her views are, in a word, adolescent:
...Heterosexual, middle class or higher white males are disproportionally represented in the demographics of bitcoin users. Bitcoin only serves to uphold the current kyriarchal socioeconomic structures by making sure the privileged become more privileged.
Edit: ...and just noticed this gem, too...lol: ...
The people behind bitcoin needs to tie it's value to the dollar if they ever want it to take off. One coin gets you one dollar, simple.
</thread> Sounds like he's looking an opportunity to become privileged in the face and rejecting it because "there are too many privileged people over there". @OP Bitcoin belongs to nobody. Anybody can acquire them. Anybody can spend them. Nobody can stop them as long as they have someone who wants to trade with them. If you have a problem with the makeup of the current community, invade. You and the people you like are more than welcome. Bitcoin belongs to everybody, and while trolls may troll, they can't do shit to take away the power that bitcoin gives you. |
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967
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Economy / Speculation / Re: Is this Good Stategy?
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on: December 16, 2013, 10:57:37 PM
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Or you could spare your nerves and quit trying to trade without knowing how. The only way to learn is to make costly mistakes, so sometimes it is best to just be an investor if you haven't already learned the art.
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969
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Economy / Speculation / Re: To all panic sellers:
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on: December 14, 2013, 07:32:46 PM
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I agree on this. I got my coins at 100 USD and saw them grow to 1200 USD so I am a winner here.
People panic selling because they bought at 1000 USD each coin and dont know if they will loose it all
should not got the coins in the first place.
It is frustrating to me when I see comments like this one. Yes, congratulations, you were an early adopter who made money. However, if everyone since then loses money, Bitcoin is done, finished.
Have some patience dude. Lack of patience is why you are nervous now. Just walk away for 6 months before you do something stupid like sell below where you bought. Bitcoin is far from done, but new users are jittery. We always have to test the nerves of the new holders before we can continue up. Many fail the test. Temperament is key in markets. |
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970
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: December 14, 2013, 02:16:35 AM
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Bill gates didn't get rich by selling his own stock, he was the biggest holder of MS.
yes he did... he just knew the right time to sell... that BS. he got rich by buying his own stock. ? So all his fiat came from income? No man, he has sold way more in terms of fiat than he bought... like magnitudes more. He got rich cuz he sold at the right time... Edit: Am i being trolled? he sold right after win98 crashed while he was doing the demo? your missing the point... No, he sold right before it "crashed"  |
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971
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Economy / Speculation / Re: how much of your life savings is invested in BTC?
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on: December 14, 2013, 12:23:48 AM
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Bitchick is a Realtor. Location, location, location. Detroit was a hole when my mom left 60 years ago.
The ugly of renting is that you are throwing away your rent money instead of building an asset. That's a heck of a lot of money to be pouring down a drain. I'd rather have made 3x on that money instead.
Lol. I don't know anything about USA, but here in Australia the only people who will say that are people with a vested interest in pushing real estate (ie. you). Anyone who is impartial will tell you that renting is more financially advantageous to buying. There are benefits to buying, like not having to deal with rental inspections, being allowed to renovate, etc. But money is not one of them. The difference in cost between buying and renting an equivalent property is generally about 2x. So to buy a $400pw rental would cost you about $800pw in mortgage and other things. If you decided to rent and put the extra savings away, you'd have saved over $600,000 over the life of a mortgage. That's if you DIDN'T invest the savings and just stuck the money under your mattress (I'm well aware of inflation - this is why in reality you would invest it). You can buy a house outright with that and not even need a mortgage. People who think real estate prices are going to keep going up are delusional. Even more so than some of the bulls on here. See: http://upload.wikimedia.org/wikipedia/commons/0/0b/Melbourne_House_prices_from_1965_to_1912.jpgSo even if you do have cash to buy a house outright, it's still perhaps smart to rent for now and wait for the prices to continue falling. It depends on supply and demand in your area. Where I live, most property is owned by a few rental agencies and most tenants are college students. Rent here is double what the mortgage payment would be. |
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972
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Economy / Speculation / Re: Analysis never ends
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on: December 13, 2013, 10:53:19 PM
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I'm looking, but I don't get it. What price does the triangle end at? When you go to the link at look at that price what is there? Are you getting excited about 1k btc at 950? |
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974
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Economy / Speculation / Re: Analysis never ends
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on: December 13, 2013, 08:05:25 PM
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you telling me we are going down? i bought at mother fuckin 1050  You'll never be able to stay in this market if you fret about the small scale wiggles. Watch the weekly chart and try to find some bitcoin income. Sell goods or services, or spend a little bit of your paycheck on bitcoin each pay period. When prices rise and you are profitable, you can buy goods or services. If you have the fiat to spend on these things anyway, you can always just rebuy the bitcoins right away. It will take time to learn what level of investment you are comfortable with. Understanding how bitcoin works on a technical level really helps me to be comfortable with the future prospects, so I always recommend http://bitcoin.org/bitcoin.pdf , but it does require some basic computer science/mathematics knowledge. i have researched bitcoin a bit and read the paper (comprehension is sort of another story at some points). i just shouldnt have been so emotional when i finally got money on exchange and just immediately bought. i didnt even stop to think. i just bought into a frenzy Historically, bitcoin has been much more forgiving to panic buyers than to panic sellers. |
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975
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Economy / Speculation / Re: Analysis never ends
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on: December 13, 2013, 07:32:50 PM
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you telling me we are going down? i bought at mother fuckin 1050 You'll never be able to stay in this market if you fret about the small scale wiggles. Watch the weekly chart and try to find some bitcoin income. Sell goods or services, or spend a little bit of your paycheck on bitcoin each pay period. When prices rise and you are profitable, you can buy goods or services. If you have the fiat to spend on these things anyway, you can always just rebuy the bitcoins right away. It will take time to learn what level of investment you are comfortable with. Understanding how bitcoin works on a technical level really helps me to be comfortable with the future prospects, so I always recommend http://bitcoin.org/bitcoin.pdf , but it does require some basic computer science/mathematics knowledge. |
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976
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Economy / Speculation / Re: Is china going heavy into buying all the sudden?
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on: December 13, 2013, 07:24:28 PM
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fiatleak is junk -- it is very misleading. no data to support the conclusions people extract from it.
Welcome to life. Misleading is the name of the game in marketing. However, it is still a useful tool. But like any tool, you have to figure out what it means and how to use it, not just take it for face value. |
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977
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Economy / Speculation / Re: SecondMarket Bitcoin Investment Trust Observer
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on: December 12, 2013, 06:45:58 PM
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[...] in fact btcchina already looks to be in a downtrend...
Everytime I read "in fact" on this forum I want to punch through the monitor. The amount of bullshit is now just insufferable.
 EM has turned bullish? (Angry statement directly referring to another user's observation that "in fact" BTCchina appears to be in a downtrend) At least that's how I read this.  Or is he bearish? In fact, the fund has been massively successful; They anticipated $10 million invested but have attracted $70 million to the fund so far.
Or, does he actually make a point about people talking about opinions and calling it "fact"? |
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979
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Economy / Speculation / Re: If I wanted to be BORED to death I would just invest in the stock market
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on: December 05, 2013, 04:55:53 AM
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Serious responses only please..... or go back to the playground if you wanna play safe
Yes, sometimes bitcoin takes a rest and consolidates. This builds psychological support as well as price history at the new levels, enabling the eventual achievement of new, even higher prices. In other words, if you're here for a quick buck take your money elsewhere for now. |
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980
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Economy / Speculation / Re: Why Bitcoin may now level off...
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on: December 04, 2013, 11:57:38 PM
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What exactly is your argument against the price of bitcoin rising further to $2000 and beyond? I don't see why the exchanges couldn't sustain higher prices, as long as they can handle the volume and the increased amount of fiat on the books. Your point about Gold also doesn't make any sense whatsoever to me. An ounce of Gold is sitting at $1200 right now, so what? It doesn't explain or say anything at all, what the hell is your point? Go back and read the first post I wrote on the first page. Everything you just asked me was already asnwered there. I already explained in detail, in two different posts, why I am concerned that the price won't shoot up past $2,000. It has nothing to do with the 'exchanges being able to handle' the volume. Where is that coming from? Gold a commodity that's been around for thousands of years, is considered by nearly *everyone* to be more valuable than Bitcoin, is well known to be purchasable in divisible amounts, and yet here it sits at $1200? Yet Bitcoin is going to $100,000? Im asking who is going to spend the money to get it there. Not sure what's so hard to comprehend about my question... You're comparing apples to oranges. Gold is not worth $1200, an ounce of Gold is worth $1200. Comparing that to the price of 1 bitcoin is just silly. It just amazes me how you don't seem to be able to wrap your head around this point. There are only 12 million bitcoins right now and there are much more than 12 million ounces of Gold out there. Your argument would have made more sense if you would compare the market cap of Gold to that of Bitcoin. And if you do that you'll find that Bitcoin's market cap isn't even at 0.2% of that of Gold right now. So yeah, plenty of room to go up for Bitcoin. I still prefer to hold 100 ounces of Gold than 100 Bitcoins at USD 1240.... Wouldn't holding 100 ounces of gold make your arms tired? |
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