Back on topic! I hate Bitcoinica spreads. I shorted, the market went down, and I lost money.  |
|
|
|
|
Good reply, proudhon. Your points generally make sense.
How would you address the issue of the negative public image?
|
|
|
|
|
It's enormously stupid to do something easily noticeable and traceable like mining on other people's property.
Even if it's legal, you'll get fired... and all for just a few thousand bucks at most.
|
|
|
|
If you want to practice. Just make a bitcoinica account with a dollar in it. See if you can successfully keep a steady return on that dollar.
Guess what happened to me  I made a 44% return on my first dollar. I thought, "Yay! I'm good at this." Turns out that when I put actual money in, my emotions took over and I began to lose money instead  |
|
|
|
Holly SHIT! OBAMA IS THE MANIPULATOR!
That or this thread went completely off-topic...
yeah I just reported it. maybe a mod will split it soon |
|
|
|
They just want a level playing field, not one where rich kids are 7 times more likely to become rich themselves - that's called oligarchy.
THIS edit: mods, split this thread and move half of it to p&s? |
|
|
|
Yeah guys its probably my fault... really bad timing on bitcoinica and using the full 10:1 margin.
Shorted when I should have longed, liquated when I should have just held in there and finally longed when I should have shorted and went to sleep. Now I'm poorer and thinking about that Albert Einstein quote:
"No problem can be solved from the same level of consciousness that created it"
I can put it down to lack of sleep largely I guess. Too much isolation and not getting out enough. The annoying thing is the whole time my instincts were right but I didn't really follow them. My emotion made me make bad decisions. I need to learn more discipline and self control.
Now I don't know if I should quit using bitcoinica or should learn from my mistakes and keep using it. I've got a small long position now with what's left of my margin.
WAIT WHAT?! Who are you? Manipulator or his arch-nemesis? |
|
|
|
Now everyone's laughing at me. Oh well, I hope I actually get the chance to catch the next big move. |
|
|
|
|
It looks pretty bad when you have no digital wallets recommended for "beginners."
However, I love the idea of this kind of Bitcoin Foundation.
|
|
|
|
FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU
I've been watching prices the entire day. RIGHT WHEN I GO AWAY FOR HALF AN HOUR IT BREAKS THE WALL
I would've shorted at 5:1 or 10:1 if that happened on my watch.
Again, FUUUUUUUUUUUUUUUUUUU
That's what stop-sell orders are for  Heh, you'd think so However, I've been screwed over one too many times by one of those. xD You really have to be there to evaluate a decision. Sometimes the circumstances change quickly. |
|
|
|
Fking loser. Because of scums like you this world is fcked up.
Not about bitcoins but about everything in life.
Thank goodness! The normal Internet is back. For a second there I thought it was broken. The tubes were clogged. |
|
|
|
|
FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU
I've been watching prices the entire day. RIGHT WHEN I GO AWAY FOR HALF AN HOUR IT BREAKS THE WALL
I would've shorted at 5:1 or 10:1 if that happened on my watch.
Again, FUUUUUUUUUUUUUUUUUUU
|
|
|
|
|
I just wanted to come over here on this thread and laugh at that ridiculous Levi's ad.
|
|
|
|
Ok. Ouch. Those comments sting. I'm being serious. I'm going to think about what you guys have said and offer a sincere response. At least this much is clear right now, I want to tone it down. I've allowed myself to go overboard. So, before I say anything else, let me say this: Sorry. Whatever direction I think this project is going to go, I'm sorry for being so glib, flippant, and aggressively negative. A lot of people with honorable intentions have put a lot of work into bitcoin, and whatever I think is or is not going to happen, I need to reign myself in from being so disrespectful. Thanks for the wake up call. I'll post more later.
Wow that was an extremely mature and eloquent response. It's okay Proudhon, I just think maybe you've drank from the Chalice of Eternal Pessimism and Woe. It happens. The effects will subside =) I really appreciate your candor. +1 Most mature post I've read for a while on this forum. |
|
|
|
Watching... How many BTC are they competing for?
The price pool is a total of 37 Bitcoins (110 euro in BTC) 27 BTC for the winner 7 for second place 3 for third place Finals are going to be streamed in a moment I think there would be more interest if, say, we grew the prize pool to 1000 BTC. It needs to be a serious amount (even 1000 is a bit too low, really), and once we attract some big progamer, it would pay off. |
|
|
|
It's credibility shattered, it's value in perpetual free fall - until the project will be tossed aside into the waste basket of novel internet experiments. Bitcoin will be lucky to make it as a footnote in internet history and if it does make it it'll be a case study on human greed.
Credibility shattered? Perpetual free fall? Case study on human greed? This thread is about Bitcoin, not USD. Please keep it on topic. In all seriousness, Proudhon, just because you've tossed the project into your own waste basket due to a price decline (though STILL up over 100% YoY), doesn't mean others have. We're not all as short-sighted. We don't all have time horizons of half a year. You call it a "case study in human greed"... but you're the one who abandoned it because of a declining price. Others of us continue to build. It's more like a case study in perseverance and dedication - working on a project despite short-term price fluctuations, despite media cynicism, and despite convention. Bitcoin is so much more than its spot price in a given month. Sorry that your understanding of it was so easily shaken - it must be somewhat depressing to be so fickle in one's endeavors. But cheer up mate, we'll keep working while you sulk and fuss about. Back in October, proudhon turned into a bear troll. I suddenly got the urge to look up his old posts... On the way up, proudhon was an enthusiastic miner and also hyped the project a lot. On the way down, since he wasn't making any money anymore, he turned into the bear troll he is today. Fun fact: before proudhon turned bearish and started posting in the speculation forum, his top two forums by posts were Bitcoin Discussion and... you guessed it... mining. I think proudhon is a case study in human greed. |
|
|
|
Did anyone sincerely believe any significant amount of new money was entering this pathetic system? It's just old money changing hands, and as I've said before, you can't get the price to stick in that kind of scenario. It'll bounce around after large drops and might recover to nearly the "stable" pre-drop price, but, ultimately, the price will continue going down as long as no new money enters the system; and, again, it's apparent that there isn't really any new money entering the system and there's absolutely no reason for anyone to put money into this sinking ship.
A week or two from now, it'll be painfully obvious that this recent "rally" was just like the New York Conference rally; and the long slow slide will continue. A month from now we'll probably have made new lows.
How low do you want to buy coins ? 0.01 usd? We know how much you love bitcoin.. save your breath I actually want the exchange rate to increase because that would be a sign that people are investing in the project (hopefully some of them not merely as speculative investors but users). The bitcoin market will need to be many times higher than what it is now for this thing to really stick. But, it's not going to rise because the credibility of the project has been utterly destroyed and no serious money, certainly not enough of it, is entering the system. What's essentially going on is the same people are just shuffling money and bitcoins around on the exchanges. More and more of each are getting collected into fewer and fewer hands. There is no way, in that scenario, for the price to rise and stick, and that's exactly what we've seen for the past 6 months. Price drops, then rises to nearly where it was before the drop, then levels off, then gradually declines, then drops. Repeat. There is no reason to think this is going to stop happening and I think anyone betting otherwise is a fool. I'm happy to concede that it's possible to make money in this environment. But, that's essentially bleeding bitcoin and if this keeps up, as it seems it's going to, then what's going on is going to trade bitcoin into oblivion - It's credibility shattered, it's value in perpetual free fall - until the project will be tossed aside into the waste basket of novel internet experiments. Bitcoin will be lucky to make it as a footnote in internet history and if it does make it it'll be a case study on human greed. How was bitcoin's credibility ever shattered? |
|
|
|
|
Why is this wall not dead yet?! The Manipulator seems to be serious about this!
|
|
|
|
I have a guts feeling that we are entering a unprecedented volatility region, wild swings were encountered the last time from 2 to 3.5 but this time there are the big players involved.
All it would take is some counterpart to the person who owns the bidwall @2.9.
I think this time we are heading for 100% swings between 2 and 4, with the final result uncertain. Of course there is a possibility that the bidwall remains unchallenged in which case we would have stagnation and slow downwards movement till we reach the wall. Anyway I liquidated my long position, the amount of selling makes me doubt further upside this weekend.
Unless of course the buywall pops, that did cause a panic sell off every time.
Was thinking the same thing. I'll be watching out for that bidwall, but don't expect any movement further than $2.99 or so. |
|
|
|
|
Show Posts
