Afraid to miss the market crash?

[massivebitman]

I've been watching this market like a hawk, I figure this bubble has got to burst eventually, and when it does, it's going to crash fast (i.e. within a day).

In case I'm not watching. I built this to send me an SMS alert so I can get my coins out in time.

Haven't found any users yet..
What do you reckon.. Useful?

I figure you guys are also invested heavily.. What would it take to get people using it?

[farfiman]

How do you pay for the txt messages ?

[massivebitman]

With Bitcoin of course!

The equivalent of 10c a message.

If you're one of the first users you get 5 for free

[TooCasual]

Looks good but it says new users will get 2 free.  And, it states boldly this is in alpha stage... It may not work.  I wouldn't say that is a confidence booster    You should have a test button so the users know the txt'ing is working. 

 Nice clean layout.

TC

[TraderTimm]

So you're going to have a service that facilitates panic?

Awesome.

I'd sign up just to know when to buy my discount bitcoins.

[donjoe]

There's going to be an arbitrary delay between when the SMS is sent out and when you actually log in to do anything about the situation. Isn't it easier to just have some orders waiting at certain price points to make sure you catch at least some of the action instantly? Then you can set up e-mail alerts for when those orders are fulfilled and just check your e-mail whenever you touch your phone - if the situation will still be favourable by the time you check your e-mail, just make a second, bigger, order.

[Luno]

Mt.gox mobile for android have an alarm function. If you a somewhere without data service, sms is nice so you can pull the hair off your head as you can't sell or buy without internet.

[donjoe]

Ha! It works! I just got your SMS.
Good show.

[Homebrewman]

It will only pop if demand for coin goes down ALOT.  Demand is really high right now.

Factor in increasing difficulty helps keep the value high.

[massivebitman]

Yeah seems to be. I keep waiting for the crash. The drop over the weekend was big, I figured it would trigger panic selling, but it didn't.

I figure most people are waiting for the peak to sell out.

I just can't see any good reason for it to keep rising, $30 is way overpriced relative to the difficulty & reward increase

[fabrizziop]

Mt.gox mobile for android have an alarm function. If you a somewhere without data service, sms is nice so you can pull the hair off your head as you can't sell or buy without internet.

lol the Mt.Gox mobile app force closes on Jellybean (4.1 and up).

[rpietila]

I figure most people are waiting for the peak to sell out.

LOL.

Hint: set up a poll. You would be surprised

[notme]

Yeah seems to be. I keep waiting for the crash. The drop over the weekend was big, I figured it would trigger panic selling, but it didn't.

I figure most people are waiting for the peak to sell out.

I just can't see any good reason for it to keep rising, $30 is way overpriced relative to the difficulty & reward increase

You're making the assumption it was properly priced before the "difficulty & reward increase".  Also, the reward decreased, and difficulty follows price, not the other way around.

[Meizirkki]

So you're going to have a service that facilitates panic?

Awesome.

I'd sign up just to know when to buy my discount bitcoins.

+1

[c0ikws]

Member of CAVIRTEX already have similar option. You can program if BTC goes lower than X sell them or if btc goes higher than Y buy them etc + it sends you email notification automatically

[Peter Lambert]

Looking at past price rises, the price rises steadily and then goes up increasingly fast just before the pop. Since we have been rising pretty steadily the past few weeks, I would not start worrying about a popping bubble until the rate of increase starts increasing. Basically what I am saying is if you buy now, the price after the spike and crash and consolidation will probably be higher than it is right now.

[TraderTimm]

Looking at past price rises, the price rises steadily and then goes up increasingly fast just before the pop. Since we have been rising pretty steadily the past few weeks, I would not start worrying about a popping bubble until the rate of increase starts increasing. Basically what I am saying is if you buy now, the price after the spike and crash and consolidation will probably be higher than it is right now.

This is what I'm being wary of. The current growth seems to be linear, but the moment we get some kind of hockey-stick to exponential rise, it will be time to pull the investing irons out of the fire until it cools off.

[xavier]

This is what I'm being wary of. The current growth seems to be linear, but the moment we get some kind of hockey-stick to exponential rise, it will be time to pull the investing irons out of the fire until it cools off.

Well maybe the value of bitcoin has really increased alot recently

After all it has backing from some mainstream investors (ala coinbase)

It has gained traction amoungst alot more users (just look at the blockchain)

I would say the 'system' is worth a lot more now as an investment than it was back in 2011, when there was a crash

Plus there are many more people trading the currency now on Gox and elsewhere and the markets are much deeper. A crash would be alot less likely.

ALot of the recent price rise has been due to coinbase, reddit and the usage of Bitcoin on legitimate sites. I'd say that its not unreasonable to assume the valuation of bitcoin is significantly higher now than in 2011, therefore a significantly higher price would also not be illogical.

The rate of growth (or shape of the hockey stick) does not mean that there is going to be a crash. A crash would be caused by investor panic - maybe especially if people realise there is no fundamental value  / fundamentals don't match the pricing.

ALthough I admit its more likely there will be a crash in the case of herd instinct investment (everybody invests at the same time which causes the hockey stick)

[bb113]

It seems there is widespread agreement that a bubble and crash are inevitable as a bunch of people who know nothing of speculation start buying bitcoins. Its just a matter of when and where it ends up.

[bb113]

I just remembered someone on here saying that bubble and crash were the wrong words to use if the thing survives. So replace those words with "hockeystick" and "correction".