I am pretty confident we are the new wealthy elite, gentlemen.

[abercrombie]

I am pretty confident we are going in reverse of becoming the new wealthy elite, gentlemen.

[BlindMayorBitcorn]

I am pretty confident we are going in reverse of becoming the new wealthy elite, gentlemen.

hehe. From one side of the bubble and back again...all in one thread

[fabiola!]

This last slow bleed that we have been facing is redistributing the BTC out of the hands of the small holders and more into the hands of the larger holders.   I think that most of the people that are panic selling probably have <10BTC and the holders of >50 or >100 or even >1000 are picking up additional coins for their holdings...

Seems like the opposite is happening actually.


A whale just sold 30K btc this weekend, it was from one guy and it was bought out by many  

I posted you the link yesterday that showed all the early adopters are accumulating....our aggregate balance just keeps increasing.

You think one "whale" dumping 30k is the sky falling. Lol. I was ecstatic the entire day yesterday. Like a kid on Xmas morning opening my presents as I scooped up deals bit by bit. 

I know your type from watching the last three spikes....if you are able to hold out until the next peak (and that's a big "if") you will be the first one screaming from the rooftops about what a genius investor you were and how your faith in bitcoin never faltered....remember today, the day that you were a sad sack of shit that thought he was down $15k.

Hey don't be mean to him, we are all a bit unsettled by this big drop, it has nothing to do with our faith in BTC. Congrats to you if you have loads of spare cash to invest right now, I say make the most of it and scoop as many deals as you can.
But don't be mean to the rest of us. We have the right to feel unsettled, gosh do you even mine? Some of us will have to turn our miners off soon if things don't pick up. Not a Xmas morning feeling, at all.

[podyx]

I am more bullish then ever

I think we could very well be the new wealthy elite

[SpiderLegion]

I am more bullish then ever

I think we could very well be the new wealthy elite

The dream is real boys

[kingscrown]

better buy now and loose
or not buy and loose big!

[jackpotjoe]

"I am pretty confident we are the new wealthy elite, gentlemen" - says the 15 year old geeky boy.

[Dafar]

This last slow bleed that we have been facing is redistributing the BTC out of the hands of the small holders and more into the hands of the larger holders.   I think that most of the people that are panic selling probably have <10BTC and the holders of >50 or >100 or even >1000 are picking up additional coins for their holdings...

Seems like the opposite is happening actually.


A whale just sold 30K btc this weekend, it was from one guy and it was bought out by many  

I posted you the link yesterday that showed all the early adopters are accumulating....our aggregate balance just keeps increasing.

You think one "whale" dumping 30k is the sky falling. Lol. I was ecstatic the entire day yesterday. Like a kid on Xmas morning opening my presents as I scooped up deals bit by bit.  

I know your type from watching the last three spikes....if you are able to hold out until the next peak (and that's a big "if") you will be the first one screaming from the rooftops about what a genius investor you were and how your faith in bitcoin never faltered....remember today, the day that you were a sad sack of shit that thought he was down $15k.

When did I say the sky is falling? I did say I'm down $15k which I'm probably not gonna see again... but I was kinda being a negative nancy, I still think I can get back on green and I'm definitely gonna hold even til we go to $0. I already accepted my investment as money gone, so all I'm gonna do is wait and not panic

On the contrary I've been accumulating coins as well, so get the fuck out with your insults and generalizations --edit, eh, can't hate on someone who's positive

[Soros Shorts]

Congrats to you if you have loads of spare cash to invest right now, I say make the most of it and scoop as many deals as you can.

You didn't even need cash to profit from the stupid $300 wall on Bitstamp. It was clearly depressing the price on the other exchanges and I managed to scoop up coins at $30x on Bitfinex 30 minutes after depositing some BTC into my margin account. I have since closed the position and transferred out the profit as coins ... without even having to get verified or wiring any fiat.

[fabiola!]

Congrats to you if you have loads of spare cash to invest right now, I say make the most of it and scoop as many deals as you can.

You didn't even need cash to profit from the stupid $300 wall on Bitstamp. It was clearly depressing the price on the other exchanges and I managed to scoop up coins at $30x on Bitfinex 30 minutes after depositing some BTC into my margin account. I have since closed the position and transferred out the profit as coins ... without even having to get verified or wiring any fiat.

Well done but I haven't got into that side of things just yet, it's still a bit of mystery to me

[stevegee58]

You didn't even need cash to profit from the stupid $300 wall on Bitstamp. It was clearly depressing the price on the other exchanges and I managed to scoop up coins at $30x on Bitfinex 30 minutes after depositing some BTC into my margin account. I have since closed the position and transferred out the profit as coins ... without even having to get verified or wiring any fiat.

Why Bitfinex as opposed to another broker?

[superresistant]

 
If one systemically important banks fail, all banks will fail.

People will lose everything. So what's the worst ?

 - Having your wealth on the roller coaster Bitcoin where the value change every day ?
 - Having a the illusion of stable wealth at the bank where 1M USD = 1M USD until the day 1M USD = 0 ?

How to keep your wealth in an increasingly fast changing and highly unstable world ?

[CoinCidental]

I think I would prefer the btc going forward from now because if the shit ever hits the fan iI can take a plane to anywhere  and spend  my Bitcoins

Try getting on a plane with a suitcase  of cash to the  equivalent of a few million usd lol

Or have a micro sd card in your phone  with a wallet backup  or online somewhere to be downloaded in a few seconds

The future has arrived

 if anyone don't "get it"  I don't have time to explain all the advantages (there are too  many) 

[QuestionAuthority]

All of the banks already did fail between 2008-2010 and that didn't start the apocalypse. Is there another impending bank catastrophe that I'm unaware of on the horizon? Massive bank failures like 2008 aren't likely to happen again in my lifetime. As for running to a safe place, where exactly can we go? I could list the countries affected by the 07-12 recession but the list would go on for multiple pages. So the idea is, in the next world financial crisis everyone in the world should grab a bunch of bitcoins and head to the Philippines?

[LFC_Bitcoin]

A single BTC would need to hit 100,000 USD for me to become rich.
(I don't class 'rich' as anything under 2 million USD).

Unfortunately for that reason I think I missed the boat, too late to become rich from BTC.
Making 200 grand would be lovely though.

[Beliathon]

How to keep your wealth in an increasingly fast changing and highly unstable world ?

In the information age, I would prefer to store my wealth in the form of information, organic open-source software.

In the centralized industrial age, I would store my wealth as centrally-guaranteed violence-backed promissory notes.

[pitham1]

A single BTC would need to hit 100,000 USD for me to become rich.
(I don't class 'rich' as anything under 2 million USD).

Unfortunately for that reason I think I missed the boat, too late to become rich from BTC.
Making 200 grand would be lovely though.

In the long term, bitcoin's price can be more than what we can dream off.
I think I will just save 1 bitcoin, to be touched only after 20 years, no matter what....

[BlindMayorBitcorn]

A single BTC would need to hit 100,000 USD for me to become rich.
(I don't class 'rich' as anything under 2 million USD).

Unfortunately for that reason I think I missed the boat, too late to become rich from BTC.
Making 200 grand would be lovely though.

In the long term, bitcoin's price can be more than what we can dream off.
I think I will just save 1 bitcoin, to be touched only after 20 years, no matter what....

At the same time...It ain't fine wine, man. Have some fun with it

[jbreher]

All of the banks already did fail between 2008-2010 and that didn't start the apocalypse. Is there another impending bank catastrophe that I'm unaware of on the horizon? Massive bank failures like 2008 aren't likely to happen again in my lifetime.

While I'm no credentialed economist, I'm very worried about the next collapse. The solution to the last bubble popping was to inflate a new bubble that made the earlier one look tiny. When this one pops, I don't think they can create new money fast enough to make it through the next collapse.

[QuestionAuthority]

All of the banks already did fail between 2008-2010 and that didn't start the apocalypse. Is there another impending bank catastrophe that I'm unaware of on the horizon? Massive bank failures like 2008 aren't likely to happen again in my lifetime.

While I'm no credentialed economist, I'm very worried about the next collapse. The solution to the last bubble popping was to inflate a new bubble that made the earlier one look tiny. When this one pops, I don't think they can create new money fast enough to make it through the next collapse.

I dunno, I've been hearing about how bad the economy is and how fucked we are for 60 years. In that time I've seen things be pretty screwed up but they always recover. I remember the gas lines and ration cards like it was yesterday. The price of oil rose from $3 per barrel to $12 overnight and everyone was saying it was the end of the world. There were 2-3 block long lines of cars parked at gas stations that didn't have "out of gas" signs posted. I was young, just got my first car and remember how pissed I was because I still had to walk to work. I wouldn't spend a lot of time fretting about something that's not likely going to happen. There are plenty of real problems to worry about in our daily lives.




You seem like a pretty bright guy, tell me what you think about this: http://realitybloger.wordpress.com/2012/03/20/the-fallacy-of-the-dollar-crash/