Death by thousand cuts

[talks_cheep]

History is re-unfolding right in front of our eyes.

Over the past 2 years, we've seen how bitcoin rocketed to over $1200, only to fall gradually to $150, finally settling around $250.

Recently, bitcoin seems to be repeating this behavior. First it seemingly rocketed to over $500, only to fall back down to $370 currently. Where it will settle down to is a good question to ask at this time; how long it will take to go down there is another good question.

Judging by the posts with naive people calling for million dollar bitcoins, we are in for a rough landing.

[talks_cheep]

To clarify, I'm not saying that we are going from 500 to 250 over the next 2 years. What I'm saying is that we are in a drop phase where bitcoin drops in value gradually, each dumping cutting down little by little, no rocket in sight. We may see a little rise here and there as well as periods of stagnant price, but it drops again and again.

While I was writing this post, it dropped from 365 to 357. Wow. Don't you see it? Wake up, people!

[r0ach]

So in other words, you're some douchebag making tons of throwaway accounts every day constantly spamming that the price is going to go down and people are supposed to believe you're doing this out of "charity" to help others rather than hidden motives, yea sure, everyone really believes you.

[LEONPATTON]

To clarify, I'm not saying that we are going from 500 to 250 over the next 2 years. What I'm saying is that we are in a drop phase where bitcoin drops in value gradually, each dumping cutting down little by little, no rocket in sight. We may see a little rise here and there as well as periods of stagnant price, but it drops again and again.

While I was writing this post, it dropped from 365 to 357. Wow. Don't you see it? Wake up, people!

Its exactly what has happened. Your eyes are not deceiving you. The drops will also continue and for sure the price is going back to around $250. Theres still a lot more Bitcoin to be dumped and when we start reaching $300 we will see massive dumps because right there is the price a lot of those coins were purchased. After that we have the hoarders who have been waiting for the magical price. They will start to dump t if it gets to $200. A friend of mine who has 2600 Bitcoin has told me hes getting rid of them all before it reaches $250. The poor guy is a bag of nerves but he still hopes its going to go magical. He hasn't sold a single bitcoin in over two years. He needs to wake up but hes not alone, there are a lot of hoarders out there. But he's not a trader - hes a guy that mined a ton of Litecoin and thats how he made his Bitcoin. He has no clue how to trade and again we have a lot of that type in bitcoin.

[LEONPATTON]

So in other words, you're some douchebag making tons of throwaway accounts every day constantly spamming that the price is going to go down and people are supposed to believe you're doing this out of "charity" to help others rather than hidden motives, yea sure, everyone really believes you.

What? But the price is going down. $150 in less than a week. Its not fud to post the truth is it?

[chicken65]

Disappointing to say the least. I'm still hoping for the price to rise but its not looking good at the moment. To much shorting going on making it look like a ponzi which I guess it is.
Fingers crossed or I can sell. Of course as soon as I do the price will start to shoot up again  

[blunderer]

So in other words, you're some douchebag making tons of throwaway accounts every day constantly spamming that the price is going to go down and people are supposed to believe you're doing this out of "charity" to help others rather than hidden motives, yea sure, everyone really believes you.

What? But the price is going down. $150 in less than a week. Its not fud to post the truth is it?

Truth is the most effective kind of FUD that there is. Screaming 'every man for himself' would just earn you a straightjacket if the Titanic isn't sinking. [spoiler!] It sunk. [/spoiler!]

[Wexlike]

Who cares? I need a good entry price anyway. Let it drop or let it rise. I m fine with both directions.

[makeacake]

Who cares? I need a good entry price anyway. Let it drop or let it rise. I m fine with both directions.

Can you explain your trading strategy? Are you heavy on fiat or BTC right now?

[RodeoX]

So in other words, you're some douchebag making tons of throwaway accounts every day constantly spamming that the price is going to go down and people are supposed to believe you're doing this out of "charity" to help others rather than hidden motives, yea sure, everyone really believes you.

What? But the price is going down. $150 in less than a week. Its not fud to post the truth is it?

It is also the truth that bitcoin is up $100 in a month. That is approaching 30% in a month! Miles ahead of the profits found in any other market. And if you back up and look at a 5 year scale it is one of the fastest growing assets this century. Those are facts also.

[Kazimir]

What I'm saying is that we are in a drop phase where bitcoin drops in value gradually, each dumping cutting down little by little, no rocket in sight. We may see a little rise here and there as well as periods of stagnant price, but it drops again and again.

Is there any explanation why?
I mean, with the fuckton of positive news in the Bitcoin ecosystem coming in almost on a daily basis, why the hell are people dumping their bitcoins?

[talks_cheep]

What I'm saying is that we are in a drop phase where bitcoin drops in value gradually, each dumping cutting down little by little, no rocket in sight. We may see a little rise here and there as well as periods of stagnant price, but it drops again and again.

Is there any explanation why?
I mean, with the fuckton of positive news in the Bitcoin ecosystem coming in almost on a daily basis, why the hell are people dumping their bitcoins?

We've had "fuckton" of positive news for the last 2-3 years or more. That didn't move the price; fundamentals don't seem to exert positive influence on the price movement. Bitcoin is weird in that sense. The only force in the universe that moves the bitcoin price is CHINA. Nothing else. They are the biggest miners, but is that enough to move the price so wildly? I'm not so sure. The Chinese exchanges play a big role surely. With their no-fee approach to trading, the China exchanges encourage pointless trades all day long. Once the Chinese speculators smell profit, they come in with their cash; once they smell blood, they just dump and leave.

Did the Russian ponzi scheme, MMM Global, play a part in the recent mini bubble? If it did, it only played a minor role.

Did the Fed's auction of Silk Road bitcoins play a role?  I think it played a greater role than the MMM Global. Bitcoin rose and rose until the day of the Auction. Coincidence? I don't think so. So, why did bitcoin drop suddenly, after rising for weeks, on the day of the auction? Was it pure manipulation? Was it a combination of sinister manipulation coupled with traders reacting to quick profit taking? Or was it due to something else? I tend towards the combination theory. Hopefully, one day the truth will come out.

[RodeoX]

So in other words, you're some douchebag making tons of throwaway accounts every day constantly spamming that the price is going to go down and people are supposed to believe you're doing this out of "charity" to help others rather than hidden motives, yea sure, everyone really believes you.

What? But the price is going down. $150 in less than a week. Its not fud to post the truth is it?

It is also the truth that bitcoin is up $100 in a month. That is approaching 30% in a month! Miles ahead of the profits found in any other market. And if you back up and look at a 5 year scale it is one of the fastest growing assets this century. Those are facts also.

When you start playing with numbers, newest shitcoins on the scene become "the fastest growing assets this century" (going from zero to $0.000001 is infinite growth).

>at a 5 year scale it is one of the fastest growing assets this century
Who told you that? Have you heard about MAVRO?  Sergey Mavrodi's ponzi moved up to $10 BILLION in actual money, not bitcoin's $5 billion paper 'market cap' (try selling a million BTC to understand what I mean by 'paper').

What? You provide a ponzi as an example of an asset that grew faster? I guess if we were discussing apples you would have posted an orange. You can post what ever nonsense you wish. The war is over and bitcoin won. Your criticisms are sooooo 2011. 

[Vahnt]

So in other words, you're some douchebag making tons of throwaway accounts every day constantly spamming that the price is going to go down and people are supposed to believe you're doing this out of "charity" to help others rather than hidden motives, yea sure, everyone really believes you.

What? But the price is going down. $150 in less than a week. Its not fud to post the truth is it?

It is also the truth that bitcoin is up $100 in a month. That is approaching 30% in a month! Miles ahead of the profits found in any other market. And if you back up and look at a 5 year scale it is one of the fastest growing assets this century. Those are facts also.

When you start playing with numbers, newest shitcoins on the scene become "the fastest growing assets this century" (going from zero to $0.000001 is infinite growth).

>at a 5 year scale it is one of the fastest growing assets this century
Who told you that? Have you heard about MAVRO?  Sergey Mavrodi's ponzi moved up to $10 BILLION in actual money, not bitcoin's $5 billion paper 'market cap' (try selling a million BTC to understand what I mean by 'paper').

Except the ponzi was just that, a ponzi that failed spectacularly. Until the same fate befalls BTC (unlikely), you cannot compare the two.

And yes, to go from fractions of a penny/BTC in 2009 to 355 USD/BTC in 2015 is remarkable, unparalleled growth.

[kokojie]

History is re-unfolding right in front of our eyes.

Over the past 2 years, we've seen how bitcoin rocketed to over $1200, only to fall gradually to $150, finally settling around $250.

Recently, bitcoin seems to be repeating this behavior. First it seemingly rocketed to over $500, only to fall back down to $370 currently. Where it will settle down to is a good question to ask at this time; how long it will take to go down there is another good question.

Judging by the posts with naive people calling for million dollar bitcoins, we are in for a rough landing.

$250 is still higher than the previous ATH $240, before the $1200 bubble. Basically I'm seeing the stable price is higher than the previous ATH after each bubble settles.

[JimboToronto]

LOL thread.

Do all you FUD-spamming doomsayers realize we're still $50 higher than 2 weeks ago? Double what we were in August? 32 times as much as 3 years ago? 1400 times as much as 5 years ago?

Oh wait, I forgot. Bitcoin started at $1200. Everything's downhill from here.  

You people are pathetic.

[Kazimir]

LOL thread.

Do all you FUD-spamming doomsayers realize we're still $50 higher than 2 weeks ago? Double what we were in August? 32 times as much as 3 years ago? 1400 times as much as 5 years ago?

Oh wait, I forgot. Bitcoin started at $1200. Everything's downhill from here.  

You people are pathetic.

Yes but apart from last week's spike, we have been in somewhat of a downtrend for quite some time now. It totally baffles me why this is (I've been 100% bullish with Bitcoin, this is THE next big thing waiting to explode) but we can't ignore the massive dumping.

Especially today, I mean WHAT THE F*CK is it with people, panic selling like crazy.

[kwukduck]

Those are some pretty deep cuts we are taking... I don't think we'll get to a thousand at this rate....

[worhiper_-_]

The bear spirit is back and the unloading of bitcoins has started as the selling pressure grows. How's that unusual? The price has nothing to do with the fact that bitcoin's economy is constantly evolving. You're really looking at this from a very narrow point of view if you only care about the price.

[Wilhelm]

The bear spirit is back and the unloading of bitcoins has started as the selling pressure grows. How's that unusual? The price has nothing to do with the fact that bitcoin's economy is constantly evolving. You're really looking at this from a very narrow point of view if you only care about the price.

Worrying about the price of [alleged] money

if the salt have lost his savour, wherewith shall it be salted? it is thenceforth good for nothing, but to be cast out, and to be trodden under foot of men.

Watch out what you say with [alledged]

FACTS:
Bitcoin is Money
Dollar is Currency

Definition: "Money must only represent the value of human labor (including services) and the natural resources labor touches."

Since mining is labor and bitcoins are only created through labor makes Bitcoin Money.

Since dollars are created out of virtual debt and not through labor dollars are currency.
People work for dollars but dollars aren't created through labor.
Watch the following youtube to show you how screwed up the dollar (and other currency) works... https://www.youtube.com/watch?v=iFDe5kUUyT0