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More like the fall of Mount Gox.
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Glad I sold above $90. It wont be reaching these levels again for at least another year. Thanks for the money guys, cya  Ignore the haters. It's a nice post and I agree with your conclusion.
Sold at $88. Will buy again in exactly 6 months.
Quote me on this bitch, I am so on the money.
 Finally found a use for that Ignore button. I won't ignore muddle-headed bears with terrible arguments, because even a terrible argument forces you to do a reality check, but people who are exclusively here to troll add no value whatsoever. |
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Looks like we're reverting to the exponential mean*, though it's happening sooner rather than later, thanks to Gox-lag. Now that's what I call antifragile. Weakness in the exchanges helping to clear away froth (for Bitcoin, faster than exponential = froth).
*Even if so, that's still set to reach $100 within a month, and $200 by June...oh noes
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My best guess is that we'll slosh around near the top of the channel and perhaps break out, especially if there's good news. (However, if we do break out we may be in for a rapid reversion to inside the channel shortly after, barring a sustained stream of positive news.)
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Got goxxed  |
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It's no mystery: when Gox lags, bulls are reluctant to buy because Gox could go kaput. Bears are prompted to sell because they might not be able to until the drop has bottomed out.
Basically Gox delay is a bearish development, because it means that the main exchange sucks just a little more than everyone thought.
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This song has been stuck on my head for a week. HOOOOOOOOOOOOOOLD!!!! |
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Are these Gox's last days as top dog?
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The real reason the price went flat before was because Mt.Gox's servers were dying. The software glitches stalled the speculative bubble. It was a blessing in disguise.
Anti-fragile. This is pretty awesome. Not only do MtGox's failings cool the bubbling up, they also help to decentralize the exchange economy. |
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What the heck? Why is mtgox.com still showing $92.7?
Anyway, this is just the old Bitcoin battering ram that happens before major psychological barriers. It's the heave-hoe sloshing back and forth just under that barrier, as can be seen below the old ATH at $32, again at $50, and mini ones at $75, $80, and $90.
EDIT: Unless it's a panic caused by MtGox lag. Yay, another rep hit for Gox --> more decentralization as people migrate to other exchanges.
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It depends on how probable you think each price range is, ultimately. I operate off a 35% chance of reaching >$10,000 in 2-5 years (10,000% gain), and a 60% chance of ~$0 in 2-5 years (100% loss), with a 5% chance of something else.
If you agree, the answer is very clear: YES, it is foolish to wait for a correction. (Because while the price is likely to fall, it is only half as likely to shoot up a metric fuckton.)
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Hah, just wait a few years to see who is really crazy around here! I have been waiting a few years, and will continue to wait many many more years. Realize that it took over 2 years to get a few lowly internet freemium services to even consider BTC as a legitimate form of money. You're expecting what in a "few years" (and define "few")? See I'm in it for the long haul, but I'm not about to lose my value over inane speculative bubbles. You just got here, and seem to already believe this is a get rich quick scheme. You're part of the speculative bubble. Just don't get caught at the top. This is the same reasoning error you've always been making: confusing absolute growth with relative growth. This error is very expensive  |
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-can not be seized (go for it, seize my bitcoins, it will be impossible without my permission, tell me one other form of money that works that way) pretty sure during seizure, no one is given permission. so this is just wtf
I'm all for newbies coming here to learn, but if you refuse to even read up on the basics before spouting off, you're not gonna have a good time. |
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Finally something I can send my parents and friends.
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I never liked the name either. It feels cheap. We could just rename it.
In fact, I usually just call them coins nowadays, in casual conversation.
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We passed Bhutan in market cap a while ago, and the King is very young, happy, and seems cool. He even married a commoner. Is it possible we could convince him to use Bitcoin for their national currency? I'm guessing it might be too high-tech for them (how high is celphone penetration there?), but it's worth a shot.   |
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but considering March 6 (just 22 days ago) Bitcoin had a $.5 billion market cap, it will not be long before Bitcoin will join the ranks of the mid-cap companies.
Bald speculation is a no-no in a press release. |
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That was a partial list. Basically they deal with suburbs and towns, not big cities.
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