if you're not buying

[arepo]

then what the hell are you doing messing with bitcoin anyway?

people like you are why the price is so damn high, and people like you will be the bagholders soon enough.

Why are you so maaaaaaaad?

i guess i should have expected another bubble. but i'm mad because this is worse than just early adopters surprised that suddenly their pockets are being lined. this is market manipulation and predatory speculation at its finest and only the newest bitcoin users are going to get burned. it seems the people here are just interested in getting rich, and don't care about the growth or long-term success of the project. we promote adoption, but now i realize that it's just to keep up the monetary influx into old wallets.

[mccorvic]

then what the hell are you doing messing with bitcoin anyway?

people like you are why the price is so damn high, and people like you will be the bagholders soon enough.

Why are you so maaaaaaaad?

i guess i should have expected another bubble. but i'm mad because this is worse than just early adopters surprised that suddenly their pockets are being lined. this is market manipulation and predatory speculation at its finest and only the newest bitcoin users are going to get burned. it seems the people here are just interested in getting rich, and don't care about the growth or long-term success of the project. we promote adoption, but now i realize that it's just to keep up the monetary influx into old wallets.

Yes, I do think people who buy with only plans to sell later are bad.  I think people who tell others to buy buy buy! with terrible charts are also bad (op here could actually be included). I also think it's all the bears posting terrible charts that hurt bitcoin. What evidence do you have that it's a *gag* monetary influx into old wallets besides you having sold already?

I do think that the majority of this price increase is due to the halving finally taking effect (I never believed the "priced in" arguments), wider adoption, and all the good good news.  I do think bitcoin is still terribly undervalued for what it can do.  I think that there are plenty of people who have way more bitcoin than they know what to do with due to the imbalanced distribution to early adopters but with each dump it goes to people who have more interest in bitcoin succeeding.

I just see you posting doom and gloom for no reason out side of being mad for some reason.  The price is going up, so what? Why does that instantly mean bubble and crash and oh no bitcoin iz dead?

[Namworld]

I sell all the time, especially when price is high, and buying back low.

I need to put food on the table, regardless if price will skyrocket in the long term. Of that no one can be sure. Either way I still try to save a bit.

Plus I'm a services provider & trader. There will be other Bitcoins to be had.

[Timo Y]

Whether I own $ 10 Million or 9 Million worth of bitcoin 5 years from now, makes no difference to my well being whatsoever.

An extra $1000 to spend right now does make a big difference to my well being.

Therefore, it's perfectly rational to sell or spend a fraction of my bitcoin savings right now, especially when there is still a 50% chance that bitcoin will be worthless in 5 years.

It's called the falling marginal utility of money.

[RyNinDaCleM]

I sell! I don't sell to make Fiat, as I've never pulled Fiat out of the system. I sell to get more Bitcoins on the dips. The "get rich quick" idea, or perhaps more properly put "Buying power rich quick" is seemingly on everyone's mind in this forum regardless of their views of Fiat, and (I think) that is the main reason for all the bubble talk. Those who say they'll never sell would be rethinking their decision as they watch their buying power slipping away. My base price is sub $1, so I completely understand the joy of more buying power that we are seeing, but this rise needs to retest some lower levels to instill real confidence other than "it's gone up this far, it'll never go down" like many here obviously believe. A retest to solidify this rise. No other financial markets on Earth have 1100% rises in a little more than a year without a burst, why should Bitcoin be any different. Not a bubble? Please.

Yes, I'll be the first to say, I'm definitely Bearish at the moment. Not because I sold some BTC (I have plenty of Bitcoins if I never get a chance to buy back cheaper), I'm Bearish because the sentiment here is out of control.

[Nesetalis]

I'm a long term bull..
but I purchased 20 bitcoins back in december at around 11$...
I'm going to sell 20 bitcoins today.
160% profit.
if I never have a chance to buy back in I still have 160% profit. If I do get to buy back in, great.
But I still have many more bitcoins sitting in my wallets, waiting for use or not.
I buy things... I save the lions share, but I am NOT going to pretend I'm not making money by selling now. Even if I could make more money later... I WILL make more money now, and I don't need huge 1000% profits, 160% is quite good enough ^.~

[mccorvic]

I'm a long term bull..
but I purchased 20 bitcoins back in december at around 11$...
I'm going to sell 20 bitcoins today.
160% profit.
if I never have a chance to buy back in I still have 160% profit. If I do get to buy back in, great.
But I still have many more bitcoins sitting in my wallets, waiting for use or not.
I buy things... I save the lions share, but I am NOT going to pretend I'm not making money by selling now. Even if I could make more money later... I WILL make more money now, and I don't need huge 1000% profits, 160% is quite good enough ^.~

The fallacy you're committing here is thinking that selling for USd equates to profit.  I have not sold any of my bitcoins and I have the same stored value as if I were to convert BTC to USD. All you've done is ended up with the same value with the potential to lose value as BTC continues to increase in value.

[Nesetalis]

the fallacy you are committing is thinking i'm giving two shits about the currency itself.
It is just a medium of exchange and bitcoin also doubles as savings right now.
that 20 bitcoins i sell, if the price drops before i use that money, then i buy more bitcoins.. but the profit is what i can acquire... over twice as much as what I could acquire before.
thus, profit.
I don't care if you hate the USD, the fact that I have higher buying power now is what matters.

[mccorvic]

the fallacy you are committing is thinking i'm giving two shits about the currency itself.
It is just a medium of exchange and bitcoin also doubles as savings right now.
that 20 bitcoins i sell, if the price drops before i use that money, then i buy more bitcoins.. but the profit is what i can acquire... over twice as much as what I could acquire before.
thus, profit.
I don't care if you hate the USD, the fact that I have higher buying power now is what matters.

Teehee. You didn't even read what I wrote.

[Nesetalis]

the profit was buying bitcoins the price of bitcoins rising, and selling for USD.
the entire ordeal was profit.
there is no way around that.

so yes, I read what you said, you just didn't say anything that made much sense

[mccorvic]

the profit was buying bitcoins the price of bitcoins rising, and selling for USD.
the entire ordeal was profit.
there is no way around that.

so yes, I read what you said, you just didn't say anything that made much sense

Ah, but I'm coming from the stand point that Bitcoin and USD are of equal worth.  If you find Bitcoin just something that is worthless and you happened to flip it, then yea, I guess you can say you have more USD then before.  But if I sell Bitcoin for USD I would do it because I would need USD for something specific that I couldn't get with BTC.

[Elwar]

Most people are not sitting on buttloads of cash.

When a majority of Americans are deep in debt and live paycheck to paycheck, selling for some reason or another is inevitable.

Especially in a recession.

[XxionxX]

I will trade a large portion my coins for 40 fertile acres in the Midwest or California. I also need solar panels and batteries, a diesel powered mobile welder, assorted building materials, chickens and goats, several guns, and assorted plant starts/seeds.

Yeah, I need some assets. Bitcoins are only an investment and hedge against the dollar for me. I understand they might be worth more, but I have some immediate needs :/ It's not like I can wait around forever just keeping a stack of coin and cackling about the value.

[niko]

This is really an issue of logic and epistemology, not economics. Please bear with me.

Now is now, and then was back then. There is no way to travel back in time with "these" coins or this knowledge. Comparing a coin today to coin back then is therefore meaningless.
Consider a medieval king: he lived "like a king" - but by my standards, he lived a shitty life: no antibiotics, no dental fillings, no glasses if he needed them. Couldn't even hop on a plane and see new places the same day. No option to remove apendix when it's rupturing. The point is, I cannot travel back in time, nor can we bring him forward in time. It's a meaningless comparison.

That pizza was very well worth 10,000 back-then coins. That's why it was traded. Besides, nobody knows with certainty what a coin will be worth next year. If we knew with certainty, it would have already happened - it would have been past, not the future.

Spend and earn your coins as you see fit. No need to play Captain Hindsight.

[XxionxX]

California. several guns

I suggest you avoid California. 

Meh, I'm not starting a war. I just want to keep my ranch safe and my animals from being eaten by something. They haven't outlawed semiautomatic rifles... yet.

[evolve]

then what the hell are you doing messing with bitcoin anyway?

Profiting.

[Melbustus]

If the price is rising without new users, yeah, it'll crash pretty hard pretty soon. But if it's mostly from new user growth, sure there'll still be a correction, but it won't necessarily be huge or necessarily signal a medium-term trend reversal.

Remember that the crash from the $32 high in 2011 was precipitated by a hack, which, if memory serves, brought us to $17-$20 for a bit, but then it was 6 months of scam/hack after hack/scam, with the associated never-ending barrage of completely misleading under-researched BS negative press (@wired specifically comes to mind...) which brought us to $2. That's not the ecosystem we're in today.

[arepo]

Yes, I do think people who buy with only plans to sell later are bad.  I think people who tell others to buy buy buy! with terrible charts are also bad (op here could actually be included). I also think it's all the bears posting terrible charts that hurt bitcoin. What evidence do you have that it's a *gag* monetary influx into old wallets besides you having sold already?

I do think that the majority of this price increase is due to the halving finally taking effect (I never believed the "priced in" arguments), wider adoption, and all the good good news.  I do think bitcoin is still terribly undervalued for what it can do.  I think that there are plenty of people who have way more bitcoin than they know what to do with due to the imbalanced distribution to early adopters but with each dump it goes to people who have more interest in bitcoin succeeding.

I just see you posting doom and gloom for no reason out side of being mad for some reason.  The price is going up, so what? Why does that instantly mean bubble and crash and oh no bitcoin iz dead?

evidence for new money into old wallets: "buy bitcoins" google trends.

the halving argument is ridiculous. the inflation rate halved, not the god damned supply. there is a huge difference here.

bitcoin is undervalued for what it can do, but speedy growth is not sustainable for reasons that should be clear to any speculator.

i'm posting doom and gloom not because i have sold but because i feel that we are reaching the price-point for many big fish to take profit. this introduces volatility and uncertainty in the exchange rate which will hamper bitcoin's adoption and growth in the mid-term.

it doesn't instantly mean bubble and crash, although many bubble and crash indicators are going off. do you even read my posts?

[johnyj]

The year is 2015, BTC exchange price doubled every 2 month, everyone buying BTC become rich, there are more consumption, more people are quiting their job and retiring, jobless rate down, GDP up, and inflation is low, it even caused deflation because all money are flowing to BTC

There is a shortage of USD, people start to borrow USD to buy BTC. The banks are very happy to issue the loan, this is their first big wave of customer after housing bubble

Finally FED become concerned and start to tighten, banks stopped issuring new loan, people start to sell their BTC to pay back the loan, the BTC price advancing stopped

But since BTC are also traded in other exchanges by that time, US monetary policy only stablized the USD/BTC price, it won't stop other currencies flowing into BTC to chase the wealth effect. As a result, USD/EUR exchange rate increased very quickly, and hurt US export badly, then there will be a G20 meeting, discuss the worldwide monetary tighten strategy...

[arepo]

everyone buying BTC become rich

is there free candy and infinite energy, too?

this is such a joke. trading is zero-sum. everyone CANNOT become rich.

still following? take the bulls out of your ears. everyone cannot become rich.

okay, good. hopefully i've gotten to a few of you finally.