I sold all my bitcoins except 1 BTC which I am keeping for posterity in an online wallet. The reason I sold was because the price chart has gone exponential if looked at on a weekly or monthly basis. I having 20 years of trading experience on and off. I was trading in the tech stock bubble in the late 90's and even back then there were message forums like The Motley Fool which I was participating in. There were a few "investments" that got me burned, lessons which were worth 10 times the price I paid back then. Pay heed, if after surveying all the price data and the attitude of other market participants, if it looks like a bubble then swallow your emotions, it very most likely is a bubble. Don't get me wrong, I believe BTC will have a long term future, it's just that before then, and very soon, a massive price correction is going to happen and I will be in again.
I stick my neck out, BTC has just broken $100, I believe the price will drop rapidly to $50 by the end of April and will hit $25 some time in May at which point I will be buying again.
Good luck to everybody.
This. Still a little more optimistic than I am, but generally, I agree. |
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Finally, sure, this all seems very exciting, and it may seem like the egg is on my face, but I still think we're around the top of a giant bubble and that the price will crash very hard soon. It's just difficult to say exactly when, but I can't imagine the price staying above $100 for very long, and once it moves definitively back under $100, I expect a very long correction.
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gimme 1 btc then
or is it aprils fool's day?
No. You didn't qualify. Also, all my promises have been paid out. 1BTC each was sent to the addresses that Kalinka and Crazy posted on the first page of this thread. 1BTC was sent to the address that smoothie sent to me in a PM this morning. |
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I am on the road for work right now. I'll try to pay everyone when I get back in the office for lunch. I owe two people from this thread plus smoothie from another thread.
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Odds are he'll get a chance to buy back lower than when he sold. I wouldn't worry about it if I were him.
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I expected 100 to be broken without any hassle at all, but now we have stopped and are sitting cautiously below 90.
I wonder what that means? This is actually feeling like the top because we have not added any major services in the last month and the rise has been because of speculation.
What do we do? Sell high and buy low? Or hold all the way to the bottom?
Sell. Buy back in the single digits. The long slow slide has begun. |
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Wanna make out?
Yes. Yes I do.  |
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I have no idea how high the price is going to go before the whole house of cards comes crashing down, but there is no way this growth is sustainable. I think we will see singles again buy the end of summer.
Wanna make out? |
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Of course we're going down. Look at the tasty depth on the bid side. Tons of USD available to buy -- ~$1.5m above $80.
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It could be something really simple. Maybe just a page that has at the top in big text the current standard fee, just so people even know what it is. Maybe have it converted to currency off to the side so people can see and have a better sense, in ordinary currency, how little it really is. Then below that have a paragraph about typical limitations on non-fee transactions.
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Might be a good idea to put a mining fee section on bitconi.org to give new folks quick access to some basic information on the fee structure, how much they can reliably send without fees, etc.
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You've been saying "down" and "overbought" since $5.00.
You'd really rather leave the forums than just admit that you were wrong?
Who said anything about leaving? |
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Hmmm, still not able to get in. Not getting SMSs and they haven't responded to my request to disable 2 factor auth...
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Sorry folks, I'm pretty sure the top is finally in, and we're probably heading into long-slow-slide round 2. I hope everyone had fun. If the MtGox* exchange rate does exceed $100/BTC in 2013, then I'll stop posting.
This is what we really want That'll cost you. |
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I voted no. Smoothie, I'll give you a BTC if it does.
Can I have one too? I'm out. |
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I voted no. Smoothie, I'll give you a BTC if it does.
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