Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[JayJuanGee]

Now, you seem to be talking your book... and once you buy back in, you will fix this kind of language, hopefully?  It's a bit charged to be throwing out the "nearly a ponzi" language.... b/c that is nearly total BS.

There are a lot of overhyped, overvalued companies that get investment, and go for round after round of seed money, and often time the only purpose of an investment in a business is the hope they'll raise more funds later on and thus make their stake more valuable.  If the only purpose is to increase income then I think that is nearly a ponzi, isn't it?

For one thing:  Bitcoin is NOT a company, and the infrastructure and the space of BTC is much too complex and too many people involved in order to be characterized as a ponzi scheme.  Even if you attempt to suggest that the earliest 100 or 1000 adopters are trying to get rich off the rest of us b/c they are just trying to cash out and there is NO value in BTC or the infrastructure.  Those kinds of characterizing would be totally misplaced.

Now maybe some of the companies within bitcoin could be ponzi schemes and some of the alt coins could be ponzi schemes b/c they are small and tightly controlled and sometimes scams and schemes....   but Bitcoin is not the various companies or the related companies or even some of the corrupt and greedy people within the space.

I just believe that you should know better than to engage in such loaded and inaccurate assertions regarding the nature of bitcoin, and you lose credibility when you employ such loaded and inaccurate language.

On the other hand, there are a lot of reasons that you could argue that you believe the price of BTC is going to continue to go down, but arguing ponzi scheme (or "near" ponzi scheme) is way out there and only triggers emotions based on incorrect facts/characterizations rather than making a more accurate assessment.

Anyhow you believe what you believe, and if you truly believe BTC is a ponzi scheme or a near ponzi scheme then you certainly will want to be careful about whether and/or how much to invest.

Dude you totally missed my point i wasn't talking about bitcoin I was talking about tech startups with unmonetized user bases who go for round after round of seed money

O.k.... I may have been drinking too much coconut juice.       We can leave it at that, then.

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[Davyd05]

Hold 2000 cny hOLDDD I say

[Davyd05]

Now, you seem to be talking your book... and once you buy back in, you will fix this kind of language, hopefully?  It's a bit charged to be throwing out the "nearly a ponzi" language.... b/c that is nearly total BS.

There are a lot of overhyped, overvalued companies that get investment, and go for round after round of seed money, and often time the only purpose of an investment in a business is the hope they'll raise more funds later on and thus make their stake more valuable.  If the only purpose is to increase income then I think that is nearly a ponzi, isn't it?

space saving for page # futures hedge *

Dude you totally missed my point i wasn't talking about bitcoin I was talking about tech startups with unmonetized user bases who go for round after round of seed money

O.k.... I may have been drinking too much coconut juice.      We can leave it at that, then.

for sure man it happens, I once went off on you for not re reading what you said.. it was closer 700-800 usd I think It's been a hectic weekend and an interesting Monday.

[JayJuanGee]

btw I wasn't calling btc a ponzi at all, I was referring to the venture capitalists and their stakes in zero revenue tech companies with high userbases.

I already responded to your other post, but I doubt this really clarifies... b/c you are still throwing out a whole bunch of generalizations.  There are a lot of varieties, some of these guys have good intentions and some are scams.. buyer beware,no? 

It does clarify because you responded with the assumption I was talking about bitcoin, which i wasn't.

For many the process isn't about building a profitable company. It's literally build a userbase, get some VC money, hire people, get a nice office, try and get more users for the next round of VC investment, the whole aim becomes VC money rather than ever having an income outside of that.

That's pretty ponzi-ish

I still believe that without naming specific companies, it may be a bit much to say "for many,"  but maybe the subject does NOT matter too much?  I mean if we are talking about a practice that is abused, o.k., But I cannot recall if we were talking about any particular company?  So maybe i am losing the train of this  topic or what was the original point.

[JayJuanGee]

Relax buddy

Can you be more specific?

You misundertood Piggles, I quoted where he clearly said he wasn't discussing bitcoin but the insane way vc investors are valuing high user apps or platforms ie whatsapp instagram etc

o.k... we're moving on...  look at those walls...

[mmitech]

And oh, just look at the larger holders and early adopters shitting their pants @ twitter and in this forum, it is a hell of fun watching fear tearing the shit out of them.

Do you have links? I have not noticed this fear.

Roger Ver Bitcoin store owner and Blochain.info founding member and board advisor






Barry Silbert Founder of SecondMarket, Founder and CEO of BitcoinTrust




Tylor Winklevoss




My twitter feed is full of this kind of tweets





and just a brief look into this forum will tell you how much fear and denial is in the air because of the hero and legend members still holding shit loads of Bitcoin.

[MrPiggles]

I still believe that without naming specific companies, it may be a bit much to say "for many,"  but maybe the subject does NOT matter too much?  I mean if we are talking about a practice that is abused, o.k., But I cannot recall if we were talking about any particular company?  So maybe i am losing the train of this  topic or what was the original point.

well, Snapchat is one. Turned down 3 billion in cash despite having never made a penny.

WhatsApp has over 600 million users, at $30 person value thats 18 Billion market cap.

If Bitcoin had even 60 million users at $30 person value is only 1.8 Billion, so it seems over valued now?  

This is the quote that started it^

[Davyd05]

And oh, just look at the larger holders and early adopters shitting their pants @ twitter and in this forum, it is a hell of fun watching fear tearing the shit out of them.

Do you have links? I have not noticed this fear.

snip

just remember the bull market runs on your tears, you're just fueling engines.

[mmitech]

And oh, just look at the larger holders and early adopters shitting their pants @ twitter and in this forum, it is a hell of fun watching fear tearing the shit out of them.

Do you have links? I have not noticed this fear.

snip

just remember the bull market runs on your tears, you're just fueling engines.

I will cry even more if this will save your asses.... and I will do it for free.

[Davyd05]

And oh, just look at the larger holders and early adopters shitting their pants @ twitter and in this forum, it is a hell of fun watching fear tearing the shit out of them.

Do you have links? I have not noticed this fear.

snip

just remember the bull market runs on your tears, you're just fueling engines.

I will cry even more if this will save your asses.... and I will do it for free.

I guess I can let you can save those you perceive as having invested too much, I could lose all of what I've invested and be alright. I've seen mutual funds lose more value following the 08' housing bubble then this and the mistake most made were panic selling at the bottom lol.

[JayJuanGee]

Now, you seem to be talking your book... and once you buy back in, you will fix this kind of language, hopefully?  It's a bit charged to be throwing out the "nearly a ponzi" language.... b/c that is nearly total BS.

There are a lot of overhyped, overvalued companies that get investment, and go for round after round of seed money, and often time the only purpose of an investment in a business is the hope they'll raise more funds later on and thus make their stake more valuable.  If the only purpose is to increase income then I think that is nearly a ponzi, isn't it?

space saving for page # futures hedge *

Dude you totally missed my point i wasn't talking about bitcoin I was talking about tech startups with unmonetized user bases who go for round after round of seed money

O.k.... I may have been drinking too much coconut juice.      We can leave it at that, then.

for sure man it happens, I once went off on you for not re reading what you said.. it was closer 700-800 usd I think It's been a hectic weekend and an interesting Monday.

I am NOT likely to concede on any assertion(s) that I have an obligation to read or reread any more carefully than I am.. or to write better or to re-read my own posts... unless there are particular circumstances that cause such...   


On the other hand, regarding "going off" If prices go below $270, each of us may be ready to "go off" again.          Although, I will planning to buy more BTC at those price points so I am NOT going to be as affected (or as surprised) the next time around (if it happens), but i will likely be ready to "go off" if my money transfer does NOT make it through to my bank on time... which I have already had some extra transfer days imposed upon me in past weeks.   

As you likely may recall, my BTC strategy has been largely buying and holding... so it can get fairly frustrating to see the value of BTC holdings dropping contrary to expectations.  Also, it gets frustrating to run out of fiat when BTC prices sink even lower than expected... goes one way and then reverses and then goes beyond expectations.    I think going below $340 was beyond expectations.  I did have enough to buy several coins below $340, but NOT as many as I would have preferred.

[JayJuanGee]

And oh, just look at the larger holders and early adopters shitting their pants @ twitter and in this forum, it is a hell of fun watching fear tearing the shit out of them.

Do you have links? I have not noticed this fear.

snip

just remember the bull market runs on your tears, you're just fueling engines.

I will cry even more if this will save your asses.... and I will do it for free.

For your future reference, mmitech, those are called Crocadile tears.   

[ChartBuddy]

Explanation

[Davyd05]

The longest I'll wait on a reversal to buy extra coin is 400 cad , but I'm willing to let another wave of bearish love swoon the markets in to sub 300...I don't want that but the bottom isn't obvious till it is obvious. The 339 bottom held strong but was crushed to a new of 275. I just find it odd that the bearwhale either thinks that people are playing ew counts and want them to believe the next wave is coming after this rebound, otherwise I would've expected a lot more dumping once breaking 300 altogether.

[mmitech]

just remember the bull market runs on your tears, you're just fueling engines.

I will cry even more if this will save your asses.... and I will do it for free.

For your future reference, mmitech, those are called Crocadile tears.  

you still didn't learn anything my friend, most of you consider me as a bear troll who's filling his book while I consider my self a person who speaks truth when he see it ( or think that he see it).... it is not only me, there is so many objective and smarter people than me out there that would say the same thing about Bitcoin, for instance read this.

But the real chart that should spell worry for bitcoin investors is this one, which shows that, despite the hurly burly—and more than $100 million poured into bitcoin start-ups by venture capitalists—actual use of the currency hasn’t really increased. Recent gains in transaction volumes have coincided with a falling price; that is to say, people are selling.

[pandacoin]

I didn't know you are perma bear troll mmitech. Nice to know now. Ignore list is rising.

[ErisDiscordia]

mmitech brings good bearish points to the table I just wish he wasn't so smug about it.

If he means well and wants to tell truth as he sees it (as he asserts) he's hurting his cause by presenting it in an often offensive manner which makes people overlook his points and focus on the delivery. Self-image won't let us agree with somebody who we perceive to be disagreeable and if he turns out to be right, we will hate him for that. Some people find joy in that though, are you one of those people, mmitech?

[Hunyadi]

And oh, just look at the larger holders and early adopters shitting their pants @ twitter and in this forum, it is a hell of fun watching fear tearing the shit out of them.

Do you have links? I have not noticed this fear.

Links

Thanks! I don't see those post fearful but that might be because of my own interpretation (I'm currently almost "all-in").

[Wandererfromthenorth]

So big volume during this recovery was a very bullish signal, but the reality is that we didn't bounce THAT much compared to what one would have expected since the flash crash.

I would not be surprised if this this falls again and then the REAL despair phase begins...

[mmitech]

mmitech brings good bearish points to the table I just wish he wasn't so smug about it.

If he means well and wants to tell truth as he sees it (as he asserts) he's hurting his cause by presenting it in an often offensive manner which makes people overlook his points and focus on the delivery. Self-image won't let us agree with somebody who we perceive to be disagreeable and if he turns out to be right, we will hate him for that. Some people find joy in that though, are you one of those people, mmitech?

I was bullish when I thought it was appropriate and right, and I turned bearish when I thought it is appropriate and right, I wasn't hated but I was considered as a "bitcoin advocate" but when I turned bearish they consider me as a troll and  a fudster....it is easy to explain, I said it and I will repeat it, Bitcoin community is full of cultist hopeless people who depend on Bitcoin success to make anything in life.

No, I wont change my tone....I am also not an arrogant greedy bastard, because I did notice people here like to lick ass that kind of people.... truth hurts, destroying hopes and dreams also hurts, but most importantly being emotionally invested in anything will eventually hurt as well.