Greed will catch up with you.

[Tomatocage]

If by "greed" you mean coke & weed, then yes I agree with you.

[1714881650]

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[The-Real-Link]

While I can agree with this as well, I can also ask what defines greed?

Is it purposely buying only planning to dump?

Is it cashing out because you have to use some of the BTC bought or mined to pay bills and things in real life?

Is it just being smart to take your initial investment costs back out - or hold on and only care because said invesetment is say, 2x, 3x the price?

Perhaps a mix of these.  I don't see taking profit being a bad thing (people will do what they will do), but I suppose if you're just in it only to make money, period, then that's not what the currency is about.

It is a good side effect though and the rich had to get that way somehow.  For a change, many of us can ask realistically perhaps "Why not us this time?"

The coming weeks and months ahead will make things clear.

[blackreplica]

Whoever buys on greed will be punished suitably, it happens for any investment vehicle out there. Price may be trending upwards at a parabolic rate now, but the price changes are still cyclical and people will sell in fear as the prices come down too. Its a natural system to weed out the weak buyers who went all in. In the end the cyclical redistribution process will keep everything chugging along (I say this as a matter of opinion, though, and not fact. I do hope I am right)

[mestar]

It would literally be impossible for Bitcoin to reach $1/BTC.

How about $2?

[smoothie]

Whoever buys on greed will be punished suitably, it happens for any investment vehicle out there. Price may be trending upwards at a parabolic rate now, but the price changes are still cyclical and people will sell in fear as the prices come down too. Its a natural system to weed out the weak buyers who went all in. In the end the cyclical redistribution process will keep everything chugging along (I say this as a matter of opinion, though, and not fact. I do hope I am right)

I was punished the other day when I did some LTC trades that netted my 14BTC in 10 minutes.

Wow the market knows how to punish me with PROFITS. 

[blackreplica]

Whoever buys on greed will be punished suitably, it happens for any investment vehicle out there. Price may be trending upwards at a parabolic rate now, but the price changes are still cyclical and people will sell in fear as the prices come down too. Its a natural system to weed out the weak buyers who went all in. In the end the cyclical redistribution process will keep everything chugging along (I say this as a matter of opinion, though, and not fact. I do hope I am right)

I was punished the other day when I did some LTC trades that netted my 14BTC in 10 minutes.

Wow the market knows how to punish me with PROFITS. 

That may be true but we all know you're not the kind of weak buyer OP and me are talking about

[smoothie]

Whoever buys on greed will be punished suitably, it happens for any investment vehicle out there. Price may be trending upwards at a parabolic rate now, but the price changes are still cyclical and people will sell in fear as the prices come down too. Its a natural system to weed out the weak buyers who went all in. In the end the cyclical redistribution process will keep everything chugging along (I say this as a matter of opinion, though, and not fact. I do hope I am right)

I was punished the other day when I did some LTC trades that netted my 14BTC in 10 minutes.

Wow the market knows how to punish me with PROFITS. 

That may be true but we all know you're not the kind of weak buyer OP and me are talking about

How Can I not agree with you   

[wopwop]

This topic starter is a shill and just jaleous of us making huge profits

[Gordonium]

Greed is Good.

[piramida]

How about $2?

Nope, we will not see single digits anymore, unless bitcoin completely dies.

[blackreplica]

Greed is Good.

Aptly put Mr Gecko

[Jobe7]

While I can agree with this as well, I can also ask what defines greed?

Is it cashing out because you have to use some of the BTC bought or mined to pay bills and things in real life?

It is a good side effect though and the rich had to get that way somehow.  For a change, many of us can ask realistically perhaps "Why not us this time?"

The coming weeks and months ahead will make things clear.

What he said.

People this year are gnashing their teeth about the people who invested in 2010/2011, and by the end of the year they'll be qq'ing about people who invested in 2012/early 2013.

I believe in btc (because I understand the fundementals a LOT and observe global social/political/economical status).

I am what I (and I expect most) would consider a poor person, but ... let's just say your female friend has worked out her maths correctly then she is a smart person

IF I could pay all my bills in btc, I would, but I can't, so I need to change some every so often back into fiat to cover such things that I can't normally cover. As more btc options become available (which they will) I will slowly move my expenses into btc.

I made another thread here - https://bitcointalk.org/index.php?topic=169212.msg1760062#msg1760062 - I would be very interested to hear your views on this OP (and others). No one has posted there yet .. I wonder why

A few others I've talked to (that I know personally) who believe similar to you (and really have no clue about btc, global matters or what bubbles really are, not saying you don't, maybe you do, just saying these people I know don't). But they have stated to me that at £1,000 they'll stop qq'ing about "bubble bubble".

But let me say this here, the 'bubble' is fiat, and it's going to pop sooner than most realise, and when it does .. oh dear

[wopwop]

While I can agree with this as well, I can also ask what defines greed?

Is it cashing out because you have to use some of the BTC bought or mined to pay bills and things in real life?

It is a good side effect though and the rich had to get that way somehow.  For a change, many of us can ask realistically perhaps "Why not us this time?"

The coming weeks and months ahead will make things clear.

What he said.

People this year are gnashing their teeth about the people who invested in 2010/2011, and by the end of the year they'll be qq'ing about people who invested in 2012/early 2013.

I believe in btc (because I understand the fundementals a LOT and observe global social/political/economical status).

I am what I (and I expect most) would consider a poor person, but ... let's just say your female friend has worked out her maths correctly then she is a smart person

IF I could pay all my bills in btc, I would, but I can't, so I need to change some every so often back into fiat to cover such things that I can't normally cover. As more btc options become available (which they will) I will slowly move my expenses into btc.

I made another thread here - https://bitcointalk.org/index.php?topic=169212.msg1760062#msg1760062 - I would be very interested to hear your views on this OP (and others). No one has posted there yet .. I wonder why

A few others I've talked to (that I know personally) who believe similar to you (and really have no clue about btc, global matters or what bubbles really are, not saying you don't, maybe you do, just saying these people I know don't). But they have stated to me that at £1,000 they'll stop qq'ing about "bubble bubble".

But let me say this here, the 'bubble' is fiat, and it's going to pop sooner than most realise, and when it does .. oh dear

good for you, buddy

[nwbitcoin]

All that is happening now is that the real price of bitcoin is being worked out by the market.

Obviously its worth more than a dollar, and its worth more than a average hour of labour.  Its currently worth a day of labour, but will it soon be worth a week of labour?

The OP is focusing far too much on the dollar value, and not on the idea that a free market is all about working out a fair value for the information available.

You will always have greedy people, but the sensible thing to do is focus on what makes your life better, and don't try and manage other people's lives! If they get stung, its their problem!

[Odalv]

All that is happening now is that the real price of bitcoin is being worked out by the market.

Obviously its worth more than a dollar, and its worth more than a average hour of labour.  Its currently worth a day of labour, but will it soon be worth a week of labour?

The OP is focusing far too much on the dollar value, and not on the idea that a free market is all about working out a fair value for the information available.

You will always have greedy people, but the sensible thing to do is focus on what makes your life better, and don't try and manage other people's lives! If they get stung, its their problem!

+1

[kingcrimson]

The OP is naively ignoring the unprecedented global banking situation which has created the black swan event that is bitcoin. Bitcoin is here at the right place and right time. It is a self fulfilling prophecy. It is funny that people like OP dont hold any other commodity, investment or trade to the same standard a bitcoin, greed is acceptable literally everywhe in the world but with bitcoin it's not? Just let it play out.

[wopwop]

The OP is naively ignoring the unprecedented global banking situation which has created the black swan event that is bitcoin. Bitcoin is here at the right place and right time. It is a self fulfilling prophecy. It is funny that people like OP dont hold any other commodity, investment or trade to the same standard a bitcoin, greed is acceptable literally everywhe in the world but with bitcoin it's not? Just let it play out.

totally

let the next sucker lose, not me
imo theres still enough suckers in line that will make the price grow further

good times, fu*k them

bitcoin, greed is good

[Chalkbot]

Well the greed of these type of people is still pushing up the price, thus increasing the exposure and liquidity of bitcoin. This allows more legitimate users to get in. At the same time, many of these greedy people are going to come to their senses while holding bitcoin. It may not be part of their plan, but unless you refuse to open your eyes, simply owning bitcoin is a beginning of enlightenment. Finally, for the moment when fiat begins to collapse, the greedy will stay in bitcoin.

For these reasons, I'm not terribly concerned about their buying motives.

[superside]

What I did was buy btc cheap then cash out as much as I put in. I didn't plan on hoarding them but with the way they've been appreciating it's become fun just to watch them grow
if they bottom out to zero I've lost nothing, If they appreciate to unfathomable amounts, well I'm going to be very happy

[flyhouse]

In the end, is anyone using BTC for anything other than speculating?

I think that if BTC survives after the bursting of this bubble, then it will truly become an alternative global currency.

If it doesn't- another digital currency will come along and pick up on the lessons learned.