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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 621880 times)
philiveyjr
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January 13, 2015, 07:58:51 PM
 #2481

10k$ a pop?? the direction in which the prices r going.!! I dont see it happening anytime soon.!!

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January 13, 2015, 08:00:46 PM
 #2482

Guess my dreams of getting out of the homeless shelter keeps losing traction day by day:



No relief in site, just relentless dumping and dumping on exchanges, everyone converting to fiat immediately.

Doesn't look good for anyone at the moment, my fellow peasants...
Yeah mate.!! I think Im getting poorer n poorer day by day...not the opposite.!! new wealthy elite?? not so much.! :/

FandangledGizmo
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January 13, 2015, 08:20:26 PM
 #2483

Guess my dreams of getting out of the homeless shelter keeps losing traction day by day:



No relief in site, just relentless dumping and dumping on exchanges, everyone converting to fiat immediately.

Doesn't look good for anyone at the moment, my fellow peasants...
Yeah mate.!! I think Im getting poorer n poorer day by day...not the opposite.!! new wealthy elite?? not so much.! :/

There is always the chance there are major 'bail-ins'. Bitcoin is still the market leader by far and so money would rush into Bitcoin and it would top $1000 in a couple of days imo.

Unfortunately in the absence of an external catalyst, I'm fairly certain unstable crypto trends down when used as a transactional currency Sad
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January 13, 2015, 08:48:07 PM
 #2484

There is always the chance there are major 'bail-ins'.

Have seen a few whale buys this afternoon, 2000 coins with only a $20 spread, they be munching plankton like it's going out of fashion.

TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6

Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins.
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January 13, 2015, 08:58:19 PM
 #2485

i am absolutely amazed to see the price so low. it's actually a little heart wrenching.
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January 13, 2015, 09:33:41 PM
 #2486

Very amusing.

What you fail to notice is the fact that BTC is in a slow descent, with no bottom in sight.

Let's talk through the scenario, BTC keeps dropping (down 49% since July 3rd) that's more than 10% a month.

In response to that what is happening?

People spending their BTC? NO!

People selling their BTC? YES!

People continuing to hoard BTC waiting for it to come back? YES!

People mining any great quantity of BTC on their own? NO!

People cloud mining making tiny BTC profits? YES!

These things above never change and if they don't then BTC will be $150 in 4 months, then it becomes cost prohibitive for anyone but the huge farms like KNC to mine.

By June BTC will be down in the double digits ($85ish) and no one will be interested in it any longer.

You heard it here.



Seems like you've lost your drive & hunger for Bitcoin....what you don't understand is Bitcoin isn't just about how much it's worth. It's a concept which at the moment is suceeding maybe not on a huge level but if someone told you about this new concept 6 years ago and said within this amount of time it would reach highs of $1000 you would of laughed.
All it takes at the moment is a whale to delve into Bitcoin and spend a huge amount which will raise the value and bring more attention from media which means more people will be interested in Bitcoin....or we have a major hack again or something similar of nature which would again bring media attention which would be seen by millions & again even though it's bad news many more people will of heard of Bitcoin and will search up on it.
You might be right it dropping down to double digits...but your not right on people not buying...a huge lot of people are buying Bitcoin. What I think is happening is a lot of people are using the payment processor bitpay which sells their Bitcoin for fiat as soon as they recieve it which decreases the value of Bitcoin. If people stop using bitpay & similar companies then we should see a rise again. Everyone thought bitpay was a great company but in actual facts it's damagining the Bitcoin value & community in general. There are a number of other major factors like more sell orders than buy order but thats obvious & talked about far more often than the point I brought up.



Pissedoff:   I agree with some of your assessment, but NOT all of it.

Personally, I believe what is causing the price to go down is manipulation, and there are some that want to continue to push the prices of BTC down so that they can continue to accumulate and at some point (maybe 1 month from NOW or maybe 6 months or possibly longer), there will be attempts to manipulate in the opposite (upwards direction)... One large whale would be within his/her power to manipulate the price upwards into the $3k to $5k territory, b/c was the price starts to go upward, there will be other whales ready and willing to jump on board.

Really, bitpay and similar are good for bitcoin because they cause liquidation opportunities - which people need to have in order to have additional confidence in BTC when prices go to the next upward level.   Surely, if people are NOW using bitpay and similar to liquidate and they are NOT replacing their coins, then surely, you are correct that those services are merely being used to sell coins... but really, I doubt that those services of bitpay and similar are what really is causing downward price pressures... you can watch the market and see that the downward pressure comes from the purposeful and strategic attempts to dump large quantities of coins on exchanges, and while that conduct remains profitable, that exchange dumping conduct is going to continue.

Additionally, some of these dumpers are accumulating coins on the sly.. so that they will have plenty of coins when the time comes for the upward momentum.


You don't have to agree with any of it, you just have to keep watching and realize I was right then, and I am right now.

BTC=$80 by June

Its down $100 since the last time I told you, in 2 months it will be down another $100


You do NOT know what the fuck you are talking about, and you are just guessing.   and you happened to have guessed somewhat correctly in the past regarding some kind of downward price pressures on bitcoin.. so what....Huh NOW, your goal is to come back and assert that you "told you so" to whoever the fuck will listen to you... and then attempt to assert that you have some kind of knowledge about the future through your continued guessing.

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January 13, 2015, 10:06:58 PM
 #2487

@JayJuanGee  You don't have to agree with JoeVentura, but he did kind of call it, and kind of backed up his points.

We all hoped he was wrong, I do and I'm sure Joe deep down hoped he was wrong as well, but his points back in November have all come true.

You have to take emotion out of this at this point in time, since logically there is no reason for Bitcoin price to bounce back magically.  There's no support, no huge bull whales offsetting the constant dumping daily by traders and miners.

We're rolling all the way the way down to $100 and maybe beyond, until something really substantial happens.  Some paradigm shift, some new launch of a new product or service, something revolutionary, that causes even the speculators to start buying up Bitcoin like Jordan sneakers.

I don't see this anytime soon yet.  It's early in 2015, but I'm still out in the street right now panhandling for mBits...


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Stunna
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January 13, 2015, 10:40:42 PM
 #2488

All in due time.

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January 13, 2015, 10:58:21 PM
 #2489

The strings of the bow are almost taut as they can be.  This has happened many times before but that is irrelevant.  Are we sheep or are we wolves?  I will HODL.
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January 13, 2015, 11:42:27 PM
 #2490

looking thru the news -

Bitstamp hack

ross trial beginning

russia making ban it noises again...


in the wake of events in france, cameron in the UK proposing to 'ban' encrypted comms online

the ludicrously convenient 'hack' as obama gives a... cybersecurity speech


EU announcing parlous finances, possibility of bond purchases

UK talking about raising interest rates

US claiming to end QE


oil in freefall...



so in a word,

HODL.






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January 13, 2015, 11:53:07 PM
 #2491

Very amusing.

What you fail to notice is the fact that BTC is in a slow descent, with no bottom in sight.

Let's talk through the scenario, BTC keeps dropping (down 49% since July 3rd) that's more than 10% a month.

In response to that what is happening?

People spending their BTC? NO!

People selling their BTC? YES!

People continuing to hoard BTC waiting for it to come back? YES!

People mining any great quantity of BTC on their own? NO!

People cloud mining making tiny BTC profits? YES!

These things above never change and if they don't then BTC will be $150 in 4 months, then it becomes cost prohibitive for anyone but the huge farms like KNC to mine.

By June BTC will be down in the double digits ($85ish) and no one will be interested in it any longer.

You heard it here.



Seems like you've lost your drive & hunger for Bitcoin....what you don't understand is Bitcoin isn't just about how much it's worth. It's a concept which at the moment is suceeding maybe not on a huge level but if someone told you about this new concept 6 years ago and said within this amount of time it would reach highs of $1000 you would of laughed.
All it takes at the moment is a whale to delve into Bitcoin and spend a huge amount which will raise the value and bring more attention from media which means more people will be interested in Bitcoin....or we have a major hack again or something similar of nature which would again bring media attention which would be seen by millions & again even though it's bad news many more people will of heard of Bitcoin and will search up on it.
You might be right it dropping down to double digits...but your not right on people not buying...a huge lot of people are buying Bitcoin. What I think is happening is a lot of people are using the payment processor bitpay which sells their Bitcoin for fiat as soon as they recieve it which decreases the value of Bitcoin. If people stop using bitpay & similar companies then we should see a rise again. Everyone thought bitpay was a great company but in actual facts it's damagining the Bitcoin value & community in general. There are a number of other major factors like more sell orders than buy order but thats obvious & talked about far more often than the point I brought up.



Pissedoff:   I agree with some of your assessment, but NOT all of it.

Personally, I believe what is causing the price to go down is manipulation, and there are some that want to continue to push the prices of BTC down so that they can continue to accumulate and at some point (maybe 1 month from NOW or maybe 6 months or possibly longer), there will be attempts to manipulate in the opposite (upwards direction)... One large whale would be within his/her power to manipulate the price upwards into the $3k to $5k territory, b/c was the price starts to go upward, there will be other whales ready and willing to jump on board.

Really, bitpay and similar are good for bitcoin because they cause liquidation opportunities - which people need to have in order to have additional confidence in BTC when prices go to the next upward level.   Surely, if people are NOW using bitpay and similar to liquidate and they are NOT replacing their coins, then surely, you are correct that those services are merely being used to sell coins... but really, I doubt that those services of bitpay and similar are what really is causing downward price pressures... you can watch the market and see that the downward pressure comes from the purposeful and strategic attempts to dump large quantities of coins on exchanges, and while that conduct remains profitable, that exchange dumping conduct is going to continue.

Additionally, some of these dumpers are accumulating coins on the sly.. so that they will have plenty of coins when the time comes for the upward momentum.


You don't have to agree with any of it, you just have to keep watching and realize I was right then, and I am right now.

BTC=$80 by June

Its down $100 since the last time I told you, in 2 months it will be down another $100


You do NOT know what the fuck you are talking about, and you are just guessing.   and you happened to have guessed somewhat correctly in the past regarding some kind of downward price pressures on bitcoin.. so what....Huh NOW, your goal is to come back and assert that you "told you so" to whoever the fuck will listen to you... and then attempt to assert that you have some kind of knowledge about the future through your continued guessing.

Yes I just keep "guessing" right every single time.

Bitcoin and the current state it is in, is Psychology 101.


If you have a job and you make 10 dollars a week you will spend a percentage of that to food, clothing, gas, car etc. Next week you make another 10 dollars you do the same thing all over again. If the next week you lose your job and you don't get 10 dollars then your spending tends to change, you hunker down and hold what you have.

Replace the word "job" with "bit coin miner"
Replace the word "dollar" with Bitcoin"
above

No one can afford to spend $500 on a miner to create $505 in Bitcoin in 9 months.

The great gold rush is over, every one held on for the next spike, but the next spike isn't coming because Bitcoin production is down a zillion percent and the cost to produce it is up a zillion percent.

Everyone is holding, no one is spending, the Bitcoin economy is circling the drain.

Prove me wrong and quote any event that you see taking place that could possibly turn it around.

I am at a loss.




BitCoinRateWatcher.com One stop for latest rates from MtGox, Bitstamp, CampBx, Coinbase and Bitpay all on one mobile friendly screen.
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January 13, 2015, 11:54:34 PM
 #2492

i am absolutely amazed to see the price so low. it's actually a little heart wrenching.

It is

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January 13, 2015, 11:57:56 PM
 #2493



The question is are we even in the despair phase yet?  Seems like a few panic sellers are coming out, but I don't even think the worst has yet to come.  


http://www.forbes.com/sites/jessecolombo/2013/12/19/bitcoin-may-be-following-this-classic-bubble-stages-chart/

But I guess Forbes are just a buncha h8rs yo!!!! I mean, what would a professional economist/technical analyst know about market trends?!?!?

The bubble has been quite apparent for the past few months.  And, barring any POSITIVE giant news for BTC, there is nothing
but selling pressure and nothing to lure in new purchasers/investors, as it makes zero sense to be buying now unless you're a firm believer and in it for the super long run.  
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January 14, 2015, 06:26:41 AM
 #2494

Very amusing.

What you fail to notice is the fact that BTC is in a slow descent, with no bottom in sight.

Let's talk through the scenario, BTC keeps dropping (down 49% since July 3rd) that's more than 10% a month.

In response to that what is happening?

People spending their BTC? NO!

People selling their BTC? YES!

People continuing to hoard BTC waiting for it to come back? YES!

People mining any great quantity of BTC on their own? NO!

People cloud mining making tiny BTC profits? YES!

These things above never change and if they don't then BTC will be $150 in 4 months, then it becomes cost prohibitive for anyone but the huge farms like KNC to mine.

By June BTC will be down in the double digits ($85ish) and no one will be interested in it any longer.

You heard it here.



Seems like you've lost your drive & hunger for Bitcoin....what you don't understand is Bitcoin isn't just about how much it's worth. It's a concept which at the moment is suceeding maybe not on a huge level but if someone told you about this new concept 6 years ago and said within this amount of time it would reach highs of $1000 you would of laughed.
All it takes at the moment is a whale to delve into Bitcoin and spend a huge amount which will raise the value and bring more attention from media which means more people will be interested in Bitcoin....or we have a major hack again or something similar of nature which would again bring media attention which would be seen by millions & again even though it's bad news many more people will of heard of Bitcoin and will search up on it.
You might be right it dropping down to double digits...but your not right on people not buying...a huge lot of people are buying Bitcoin. What I think is happening is a lot of people are using the payment processor bitpay which sells their Bitcoin for fiat as soon as they recieve it which decreases the value of Bitcoin. If people stop using bitpay & similar companies then we should see a rise again. Everyone thought bitpay was a great company but in actual facts it's damagining the Bitcoin value & community in general. There are a number of other major factors like more sell orders than buy order but thats obvious & talked about far more often than the point I brought up.



Pissedoff:   I agree with some of your assessment, but NOT all of it.

Personally, I believe what is causing the price to go down is manipulation, and there are some that want to continue to push the prices of BTC down so that they can continue to accumulate and at some point (maybe 1 month from NOW or maybe 6 months or possibly longer), there will be attempts to manipulate in the opposite (upwards direction)... One large whale would be within his/her power to manipulate the price upwards into the $3k to $5k territory, b/c was the price starts to go upward, there will be other whales ready and willing to jump on board.

Really, bitpay and similar are good for bitcoin because they cause liquidation opportunities - which people need to have in order to have additional confidence in BTC when prices go to the next upward level.   Surely, if people are NOW using bitpay and similar to liquidate and they are NOT replacing their coins, then surely, you are correct that those services are merely being used to sell coins... but really, I doubt that those services of bitpay and similar are what really is causing downward price pressures... you can watch the market and see that the downward pressure comes from the purposeful and strategic attempts to dump large quantities of coins on exchanges, and while that conduct remains profitable, that exchange dumping conduct is going to continue.

Additionally, some of these dumpers are accumulating coins on the sly.. so that they will have plenty of coins when the time comes for the upward momentum.


You don't have to agree with any of it, you just have to keep watching and realize I was right then, and I am right now.

BTC=$80 by June

Its down $100 since the last time I told you, in 2 months it will be down another $100


You do NOT know what the fuck you are talking about, and you are just guessing.   and you happened to have guessed somewhat correctly in the past regarding some kind of downward price pressures on bitcoin.. so what....Huh NOW, your goal is to come back and assert that you "told you so" to whoever the fuck will listen to you... and then attempt to assert that you have some kind of knowledge about the future through your continued guessing.

Yes I just keep "guessing" right every single time.

Bitcoin and the current state it is in, is Psychology 101.


If you have a job and you make 10 dollars a week you will spend a percentage of that to food, clothing, gas, car etc. Next week you make another 10 dollars you do the same thing all over again. If the next week you lose your job and you don't get 10 dollars then your spending tends to change, you hunker down and hold what you have.

Replace the word "job" with "bit coin miner"
Replace the word "dollar" with Bitcoin"
above

No one can afford to spend $500 on a miner to create $505 in Bitcoin in 9 months.

The great gold rush is over, every one held on for the next spike, but the next spike isn't coming because Bitcoin production is down a zillion percent and the cost to produce it is up a zillion percent.

Everyone is holding, no one is spending, the Bitcoin economy is circling the drain.

Prove me wrong and quote any event that you see taking place that could possibly turn it around.

I am at a loss.



That's fine if you want to just keep bragging about how smart you are and trying to engagin in an argument, merely because there seems to be a bear trend at the moment. 

I have NO fucking idea how long this bear trend is going to last, and I never claimed to be able to predict short term price directions in BTC, even though in the long term I remain optimistic that the market will turn around and we will return to a bull market in BTC. 

So go around with your cock sureness and be smug... good for you.... that the downtrend continues and you are happy about this (whether your prediction or NOT).



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January 14, 2015, 07:26:22 AM
 #2495

Yeah, life sux right now for hodlers. Well, unless they've been hodling for more than a year.

But you talk of Bitcoin as if it offers nothing other than some disembodied share price, completely divorced from its inherent value.

Of course, we have yet to learn what a universal medium of exchange, incorruptable, uninterceptible, and incensorable, might be worth. My guess is quite a bit. I have a fair amount of patience in letting the world figure this value.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

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January 14, 2015, 08:03:26 AM
 #2496

We have to wait 6 years for the inflation rate of bitcoin to be lower than the U.S. dollar.   Until then, sell.
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January 14, 2015, 08:30:20 AM
 #2497

We have to wait 6 years for the inflation rate of bitcoin to be lower than the U.S. dollar.   Until then, sell.

The inflation rate in Bitcoin is huge. I think the US inflation rate will be higher than Bitcoin before 6 years but the Bitcoin inflation is 10% a year, it is a big inflation

1.314 million more bitcoins a year. If adoption was going up fast and people were questionning more the fiat system it would not be a problem to have this inflation and a very high price since miners would hold their bitcoins and people would believe more in a future appreciation of the price.

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January 14, 2015, 08:33:44 AM
 #2498

i am absolutely amazed to see the price so low. it's actually a little heart wrenching.

Agree! 'Amaze' to see Bitcoin price drop so much today. Few hours back, it was 200 USD and now it is 183.40 USD! → preev.com.

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January 14, 2015, 10:53:30 AM
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honestly ... do you all actually think that the thousands of years of kings and swords and blood and gold and conquest and kings and more gold and swords and castles and religions and wars and conquest and gold and swords and wars and countries and kings and wars and wars and wars and slaves and gold and more wars and ships and slaves and cotton and countries and revolutions and kings and gold and wars and planes and bombs and wars and that allllll of the handful of the worlds wealthy elites who have passed down their wealth through the generations since the dawn of civilization are going to let it all go let all of their money and all of their power go and allow a handful of asshats with laptops who installed an interesting piece of software take their place and supplant their singular position as the rulers of earth ? honestly ?

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January 14, 2015, 10:55:42 AM
 #2500

Yes.
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