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bb113 (OP)
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August 17, 2012, 07:56:14 AM
Last edit: August 19, 2012, 09:25:18 PM by bitcoinbitcoin113 |
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  Look closer at what happened at $6 in May 2011. Buy in now to take advantage of the forthcoming newbs. Will it crash afterwards? Probably, but it may be a trick. It would be stupid if someone did not create another bubble at this point. Everyone says bubbles harm the legitimacy of bitcoin. I disagree, from what I have seen bubbles get people interested who otherwise would not have been. Did the dotcom bubble harm the legitimacy of the internet? |
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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Yuhfhrh
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August 17, 2012, 07:58:44 AM |
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All the way to $50 baby!
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Electricbees
Sr. Member
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Activity: 322
Merit: 250
We are bees, and we hate you.
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August 17, 2012, 10:18:08 AM |
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All the way to $50 baby! But slowly and at a constant velocity!
FTFY |
Donations are welcome!
1BEES19ds5gEnRBoU1qNFPfjRXe94trMG3
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ruski
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August 17, 2012, 11:12:01 AM |
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Look closer at what happened at $6 in May 2011. Buy in now to take advantage of the forthcoming newbs. Will it crash afterwards? Probably, but it may be a trick.
It would be stupid if someone did not create another bubble at this point. Everyone says bubbles harm the legitimacy of bitcoin. I disagree, from what I have seen bubbles get people interested who otherwise would not have been. Did the dotcom bubble harm the legitimacy of the internet?
The most likely reason a bubble will occur now is a big investor makes a big market-order buy, not realizing or not believing the walls are false and will be taken down before they can be sold into - meaning their $1kk purchase will now take the price to $50 in an instant instead of the $20-ish they probably expected. At this kind of volume that's the only way I see it happening. Fear of that keeping big buyers from making big one-time buys is also a great thing. Slow and steady wins the race! |
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bullioner
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August 17, 2012, 11:27:34 AM |
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The most likely reason a bubble will occur now is a big investor makes a big market-order buy
Would you mind explaining why they would do that? Wouldn't they always be better off placing limit orders? |
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ruski
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August 17, 2012, 11:31:16 AM |
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The most likely reason a bubble will occur now is a big investor makes a big market-order buy
Would you mind explaining why they would do that? Wouldn't they always be better off placing limit orders? Fat-finger error? Overconfidence? Wanting to deliberately cause an updraft with a spike, not realizing how big it would actually be? |
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ruski
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August 17, 2012, 05:22:43 PM |
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Just like what happened now. The $15 wall came down, the buys reached up to $15.40 before restabilizing thanks to the massive market orders. Entirely possible.
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Yuhfhrh
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August 17, 2012, 05:25:25 PM |
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I agree we really need to slow down....
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adamstgBit
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Trusted Bitcoiner
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August 17, 2012, 05:26:09 PM |
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I agree we really need to slow down....
did you not go to sleep? |
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adamstgBit
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August 17, 2012, 05:27:13 PM |
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I agree we really need to slow down....
did you not go to sleep? you sound really tired and cant think right XXX.XX here we come.... |
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Yuhfhrh
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August 17, 2012, 05:28:16 PM |
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I agree we really need to slow down....
did you not go to sleep? you sound really tired and cant think right XXX.XX here we come.... Lol 3 hours  |
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fcmatt
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August 17, 2012, 05:28:52 PM |
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Just remember it is different this time. This is not a bubble. Keep buying.
To the moon!
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tvbcof
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August 17, 2012, 05:42:42 PM |
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There is latency getting fiat into exchanges which sometimes create slowdowns. Temporary when interest (or desperation) is high. Mistaken for tops by some unfortunate analysts.
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sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
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Yuhfhrh
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August 17, 2012, 05:44:03 PM |
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If we are really only at blurp 2, we are going to go past $50 for sure lol
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thezerg
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August 17, 2012, 06:43:11 PM |
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There is latency getting fiat into exchanges which sometimes create slowdowns. Temporary when interest (or desperation) is high. Mistaken for tops by some unfortunate analysts.
I think this may be the cause of the stead(ier) pace this time. I'd imagine that before all the hacks people were a lot more willing to hold fiat on the exchanges. Now I guess that many people only move what they want to spend... |
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tvbcof
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August 17, 2012, 06:57:58 PM |
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There is latency getting fiat into exchanges which sometimes create slowdowns. Temporary when interest (or desperation) is high. Mistaken for tops by some unfortunate analysts.
I think this may be the cause of the stead(ier) pace this time. I'd imagine that before all the hacks people were a lot more willing to hold fiat on the exchanges. Now I guess that many people only move what they want to spend... I was never keen to have any of my assets under counter-party risk so I never held more fiat than I needed for near-term use at an exchange, and when I started the only exchange which had had a problem was Mt. Gox. OTOH, I always funded with wire transfers and the larger the funding block, the lower the percentage I paid for that part of the transaction. So it was always a balancing game. I choose the position I wanted (which was a function of how low the price got), achieved it, cold-stored my loot, and have not traded since. So now I can just sit back and enjoy the ride no matter what direction it takes me. Until we get to points where I expect to back some of it out at least...if we ever get to those points. |
sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
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TraderTimm
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August 17, 2012, 07:14:36 PM |
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Just as a helpful reminder, "Bubble" refers to a market that completely COLLAPSES after the upward move is over. I think using it to describe blow-off tops and parabolic moves isn't correct. With all that, I think the current move is heating up a bit, but I'm reluctant to call for retrace until it has concluded.
It has decisively bust through the upper channel trendline, which sits just north of 14.00 - this may become a new support trendline. Watching the dailies with much interest.
Update: While watching it - it broke below 14.00 and then traded above. Closing below 14.00 would be bearish to me.
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fortitudinem multis - catenum regit omnia
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