To who whined about early adopters that bought cheap coins: now coins are cheap

[revans]

Anybody who right now buys at 100 will kick themselves for not being able to wait.
There are a few of you out there who still think they can turn this around, it's exactly the same situation like when I first joined this forums after the bust in 11.

The only thing supporting the price right now is MTGox and their ever more transparent price manipulation.

[bb113]

Anybody who right now buys at 100 will kick themselves for not being able to wait.
There are a few of you out there who still think they can turn this around, it's exactly the same situation like when I first joined this forums after the bust in 11.

Not true, public awareness is much greater, infrastructure is stronger (but still weak), bitcoin has not been hacked for longer (increased confidence), more and more usefulness all the time. Just trading-wise, mt gox order book has 14 million in bids showing, what did it have in 2011?

[rpietila]

It could go either way but the odds of it dropping to 50 are a lot higher right now than it seeing 200 in the next few weeks.

The only way it can ever drop to $50 is due to the inability/crookedness of the exchanges. In OTC market, I see absolutely no one willing to sell, everyone just wants to buy. If ever you have coins for sale for $50, or want to buy puts, just PM me.

[Gabi]

now coins are cheap

excuse my repetition, but remember: Bitcoin has been worth single digits or less for about half of its lifetime. Before 2013, bitcoin had only ever been worth more than $20 for two brief weeks, during a period generally known to all as an aberration.

Yeah well, bitcoin lifetime= only 4 years. I think it is impressive that in just 4 years it went from 0 to a billion dollar economy never hacked by anyone (sure, services and exchanges were hacked, but bitcoin no)

Umm, what of the billions of Bitcoins credited to a wallet by a hack which had to be rolled back?

When bitcoin was only used by satoshi and his friend in 2010? Meh, i suppose the first versions of the software had even bigger bugs.

[ElectricMucus]

Anybody who right now buys at 100 will kick themselves for not being able to wait.
There are a few of you out there who still think they can turn this around, it's exactly the same situation like when I first joined this forums after the bust in 11.

Not true, public awareness is much greater, infrastructure is stronger (but still weak), bitcoin has not been hacked for longer (increased confidence), more and more usefulness all the time. Just trading-wise, mt gox order book has 14 million in bids showing, what did it have in 2011?

duh, That's why the price is higher than in 11. But that doesn't mean it is sustainable.
It weren't back then and it isn't now.

Then:
public awareness == the amount of suckers
infrastructure hasn't improved a bit.

[bb113]

At $10/btc a group with $210 million could buy all bitcoins ever. This price is not sustainable with current levels of awareness.

[ElectricMucus]

At $10/btc a group with $210 million could buy all bitcoins ever. This price is not sustainable with current levels of awareness.

Provide proof of a $210 million group interested in BTC.

[Kazu]

"Its not fair that some people got bitcoins cheaper than ~"
                                +
"I'm not buying bitcoins, because it went down in price (i.e, because it isn't more expensive than ~)."
                              ==
"I want to make money without taking any risk."

[rpietila]

At $10/btc a group with $210 million could buy all bitcoins ever. This price is not sustainable with current levels of awareness.

There is no $210 million group interested in BTC.

LOL. There are hundreds of such groups, and I lead one of them.

The problem is rather, as we start to buy, the price goes up. The way to shake the unbelievers is to rattle with the price. So far doing good and my personal holdings are up BTC1000 per 48 hours. It does not really matter at what price we buy, but it is better to buy cheaply as then you get more coin.

[ElectricMucus]

"I want to make money without taking any risk."

Mee too

At $10/btc a group with $210 million could buy all bitcoins ever. This price is not sustainable with current levels of awareness.

There is no $210 million group interested in BTC.

LOL. There are hundreds of such groups, and I lead one of them.

The problem is rather, as we start to buy, the price goes up. The way to shake the unbelievers is to rattle with the price. So far doing good and my personal holdings are up BTC1000 per 48 hours. It does not really matter at what price we buy, but it is better to buy cheaply as then you get more coin.

Prove it. Loaded has done it, you could too.

[rpietila]

"I want to make money without taking any risk."

Mee too

At $10/btc a group with $210 million could buy all bitcoins ever. This price is not sustainable with current levels of awareness.

There is no $210 million group interested in BTC.

LOL. There are hundreds of such groups, and I lead one of them.

The problem is rather, as we start to buy, the price goes up. The way to shake the unbelievers is to rattle with the price. So far doing good and my personal holdings are up BTC1000 per 48 hours. It does not really matter at what price we buy, but it is better to buy cheaply as then you get more coin.

Prove it.

What exactly you want? I believe I can rather easily prove any trivial matters, and I will, just for show

[ElectricMucus]

Sign a message with your wallet. If it is worth a significant amount I will leave you be.

[rpietila]

Sign a message with your wallet. If it is worth a significant amount I will leave you be.

To be honest, I laugh every time I need to "show" your messages when I suspect that they are replies to me

How much coin is enough for you? BTC2,000? I don't know how to sign a message and it is offline anyway. Perhaps you post the how-to as I think I will need to learn, so as to not appear a newbie...

[ElectricMucus]

Sign a message with your wallet. If it is worth a significant amount I will leave you be.

To be honest, I laugh every time I need to "show" your messages when I suspect that they are replies to me

How much coin is enough for you? BTC2,000? I don't know how to sign a message and it is offline anyway. Perhaps you post the how-to as I think I will need to learn, so as to not appear a newbie...

Loaded has 200k and only a few posts, he has done that and nobody questions it. Do as you like, but if you want to be taken seriously as a big fish you need to provide cryptographically verifiable proof.

[bb113]

At $10/btc a group with $210 million could buy all bitcoins ever. This price is not sustainable with current levels of awareness.

Provide proof of a $210 million group interested in BTC.

http://www.huffingtonpost.com/2011/06/22/winklevoss-twins-facebook-lawsuit_n_882618.html

[ElectricMucus]

At $10/btc a group with $210 million could buy all bitcoins ever. This price is not sustainable with current levels of awareness.

Provide proof of a $210 million group interested in BTC.

http://www.huffingtonpost.com/2011/06/22/winklevoss-twins-facebook-lawsuit_n_882618.html

And how is that relevant?

[rpietila]

Loaded has 200k and only a few posts, he has done that and nobody questions it. Do as you like, but if you want to be taken seriously as a big fish you need to provide cryptographically verifiable proof.

Winklevoss don't have a forum account, and I don't have a hotwallet LOL. The new wave has arrived

[bb113]

At $10/btc a group with $210 million could buy all bitcoins ever. This price is not sustainable with current levels of awareness.

Provide proof of a $210 million group interested in BTC.

http://www.huffingtonpost.com/2011/06/22/winklevoss-twins-facebook-lawsuit_n_882618.html

And how is that relevant?

http://www.latimes.com/business/technology/la-fi-tn-winklevoss-twins-bitcoin-20130412,0,2585829.story

[ElectricMucus]

At $10/btc a group with $210 million could buy all bitcoins ever. This price is not sustainable with current levels of awareness.

Provide proof of a $210 million group interested in BTC.

http://www.huffingtonpost.com/2011/06/22/winklevoss-twins-facebook-lawsuit_n_882618.html

And how is that relevant?

http://www.latimes.com/business/technology/la-fi-tn-winklevoss-twins-bitcoin-20130412,0,2585829.story

Wouldn't be the first time the one "new rich" wasting their fortune.
That's still not 210M and not even somebody with a lucky lawsuit can't be that reckless with their money. Added to that it seems they got in just at the wrong time, so they might dump.

[ruski]

Yes, and that very mechanism is why Bitcoin should be viewed with suspicion. Do you really see mass adoption of a currency that gets more and more expensive to new entrants?

More and more expensive how, exactly? The real value of goods doesn't change in comparison to BTC. If by "mass adoption" you mean "a mass of 15 year olds thinking they'll make a million bucks overnight" then I could care less about that kind of adoption.

In fact, the BTC economy gets cheaper and cheaper to new entrants due to deflation increasing purchasing power.