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maz
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November 24, 2013, 01:44:26 PM |
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Mark my words. The Great Crash is coming.
I tend to agree...at least at a gut level....but if BTC is not just a speculative fad it will come back...or die like the TULIP it was trying to be....a market (assuming it survives) will always go back to its previous high may take a day or a decade...the key here is it can yo/yo all it wants ...what is the end game say 5yrs or more from now.....is it a beanie baby fad that passes....or a paypal/ebay/inet game changer anyway....I'm mining now... may mine later..not sure about speculating on up/down...may just mine and hold...if in the delusion of my mind I can show that the miners at least paid for themselves "on paper" I can probably live with that .....comfort level wise....if i'm wrong I still have some gains..if i'm right ..then no need to be greedy...risk vs reward don't ya know..i'll still be way ahead..... anyway noob comfort level 1 armor 1 weapon 1 loincloth is where i am with this game so far... Gettin beaten up by a rabbit? |
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Searing
Copper Member
Legendary
 Offline
Activity: 2898
Merit: 1464
Clueless!
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November 24, 2013, 01:47:14 PM |
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Mark my words. The Great Crash is coming.
I tend to agree...at least at a gut level....but if BTC is not just a speculative fad it will come back...or die like the TULIP it was trying to be....a market (assuming it survives) will always go back to its previous high may take a day or a decade...the key here is it can yo/yo all it wants ...what is the end game say 5yrs or more from now.....is it a beanie baby fad that passes....or a paypal/ebay/inet game changer anyway....I'm mining now... may mine later..not sure about speculating on up/down...may just mine and hold...if in the delusion of my mind I can show that the miners at least paid for themselves "on paper" I can probably live with that .....comfort level wise....if i'm wrong I still have some gains..if i'm right ..then no need to be greedy...risk vs reward don't ya know..i'll still be way ahead..... anyway noob comfort level 1 armor 1 weapon 1 loincloth is where i am with this game so far... Gettin beaten up by a rabbit? feels that way got the miner on oct 18th BTC was about 150usd now will have about 25 coins by end of this week last I looked $866.... interesting month to start all this (frigging now i'm gonna have dreams about evil rabbits!!!) |
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RAJSALLIN
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November 24, 2013, 01:49:39 PM |
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Mark my words. The Great Crash is coming.
I tend to agree...at least at a gut level....but if BTC is not just a speculative fad it will come back...or die like the TULIP it was trying to be....a market (assuming it survives) will always go back to its previous high may take a day or a decade...the key here is it can yo/yo all it wants ...what is the end game say 5yrs or more from now.....is it a beanie baby fad that passes....or a paypal/ebay/inet game changer anyway....I'm mining now... may mine later..not sure about speculating on up/down...may just mine and hold...if in the delusion of my mind I can show that the miners at least paid for themselves "on paper" I can probably live with that .....comfort level wise....if i'm wrong I still have some gains..if i'm right ..then no need to be greedy...risk vs reward don't ya know..i'll still be way ahead..... anyway noob comfort level 1 armor 1 weapon 1 loincloth is where i am with this game so far... Bitcoin has already survived three bubbles. Why couldn't it survive another or 5 more? Seems to be something of a natural growth mechanism for bitcoin in the formation and puncture of bubbles. Also in the long run bubbles don't necessarily have to be bad since they will redistribute coins faster then if the price is just low volatile straight up. |
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TERA
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November 24, 2013, 01:50:33 PM |
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I think it's hilarious people think we will hit 1k+ prices. No way that's gonna happen without major dumping at 1k, which will undoubtedly lead to the Great Crash.
You think it's going to breakout from 900 to only 1000? When has anything like this every happened in bitcoin? Dont the crashes happen after huge ATH rises? 1000 would only be a 11% rise from 900. I think this 1K selling was already done at 900 - the number "before 1000 because its not going to 1000". At 1000 people are more likely to go nuts buying, because it broke 1000... And maybe 10,000CNY is more significant than $1000 now. |
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BTCSTOCKS
Newbie
Offline
Activity: 14
Merit: 0
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November 24, 2013, 01:52:19 PM |
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Come on Zangelbert. You can't possibly believe everybody is going to get rich? I mean, sure, if bitcoin is a more efficient method of payment and finance in general, then it will benefit the general population, much like the internet itself has already provided many benefits to the economy. But it doesn't instantaneously transform everybody into millionairs.
Not instantly. I said financial freedom in a decade or two, and I mean by today's standards. Bitcoin is more than just frictionless payments and finance. It's a complete restructuring of the world and the elimination of many inefficiencies that held people back. The removal of those inefficiencies isn't just going to make sending money cheaper and some online goods available at a discount. It will enable whole new industries like the Internet has, but it goes far beyond even that. It fundamentally, radically decentralizes power. It blows away most of the borders that kept people from participating in the international division of labor. It thwarts all kind of oppression, especially economic oppression. It is "rat poison," as Charlie Munger inadvertently said, or as Chamath Palihapitiya called it, "schmuck insurance." Power to the people. Truly free markets, everywhere. Think China during Mao's reign versus now. That's the kind of change that's coming. Even for people who never invest in this bull market. LOL ! ====> http://video.foxbusiness.com/v/2359385547001/~~~ need me to regulate Bitcoin give me a week! http://smilies.newcastlebeats.com/smilies/squirrel.gif |
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gandhibt
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November 24, 2013, 01:55:24 PM |
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$350 is cheap, it is the ATH from 15 days ago  $500 is a reasonable level to start buyback. so you're buying back in now? Now, meaning 'at the moment', I am not buying back in. The price is above $500. My average sale price is $672 and I am not a daytrader. It has to go down a lot before I care to buy back. Now, meaning 'whether I changed the strategy concerning what to do', the answer is: strategy stays the same until something new happens. Just that price follows some of my old scenarios (goes up, down, or stays put) is not considered 'new'. I don't think I will ever buy bitcoins above $500. If it goes to the moon, my next problem will be when and how much to sell more, as my bitcoins are worth $100M and the rest of my wealth is just a few million$. I should really post my wisdom concerning position management, because so many are clueless about it. my words were sarcastic  |
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Zangelbert Bingledack
Legendary
Offline
Activity: 1036
Merit: 1000
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November 24, 2013, 01:55:44 PM |
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I should really post my wisdom concerning position management, because so many are clueless about it.
Please do. Ultimately, lack of understanding or thought about position management is probably responsible for a lot of weak handedness, because people don't have complete confidence in what they're doing. Once they start to panic, it's too late for careful thought and they just dump everything. |
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ElectricMucus
Legendary
Offline
Activity: 1666
Merit: 1057
Marketing manager - GO MP
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November 24, 2013, 01:58:40 PM |
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I should really post my wisdom concerning position management, because so many are clueless about it.
Please do. Ultimately, lack of understanding or thought about position management is probably responsible for a lot of weak handedness, because people don't have complete confidence in what they're doing. Once they start to panic, they think only of fiat assets and dump everything. The trick is to panic first. |
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BTCSTOCKS
Newbie
Offline
Activity: 14
Merit: 0
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November 24, 2013, 02:02:02 PM |
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Bitcoin is not magically cheap at $750, just because it was trading at $900 for a few hours, and twice bounced back. That new money is going to the exchanges does not automatically mean that it will be invested the first day if the price is trending down and/or hitting a resistance. Number of bitcoins to be sold in the event of crash trumps any and all new money easily. 1% of 12 million bitcoins = BTC120,000 = $100M Current bid depth in all the exchanges combined = $70M. So <1% of all bitcoins could crash the price to zero. Of course they wouldn't do it, but it is just naive to think that only the buyers decide the price. In the short term it is very much the sellers who decide, because transferring fiat to the exchanges takes long, and if the sellers take it down like in 10-17. April, new money does not even want to buy any more in the following confusion. Sure we can go up from here, but if we do, my previous estimate of going up to $2-$3k and then crash to way less than $1k remains valid. Even if the new money entering goes parabolic, increasingly more sellers emerge as they can finally cash out $millions, transform their life, AND leave enough bitcoins to become ultra-rich if the rise continues. This will put some dampener to the price, which is already much ahead of the exponential trend. The double top and an intermediate term bear market remains a possibility. That would be something new Funny that nobody is questioning why the price rocketed up before all the positive news and is now struggling...  $350 is cheap, it is the ATH from 15 days ago $500 is a reasonable level to start buyback. If you buy into the delusion of bitcoin singularity, remember it was me who prophesied it first.  so you're buying back in now? obviously that fool is stuck short !!! *this is beyond funny imho!= he owes people /\BTC!!! imo~~~> QUICK BUY BACK NOWWW!!! >> http://smilies.newcastlebeats.com/smilies/rofl.gif |
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ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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November 24, 2013, 02:02:04 PM |
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Davyd05
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November 24, 2013, 02:03:28 PM |
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love seeing 320 coins get chomped up
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kurious
Legendary
Offline
Activity: 2590
Merit: 1643
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November 24, 2013, 02:03:44 PM |
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fairly strong buys on gox in one minute - about half a million bux... good sign?
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TheKoziTwo
Legendary
Offline
Activity: 1552
Merit: 1047
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November 24, 2013, 02:04:23 PM |
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I now he said that , but you didn't denied the word everyone , just the time frame.
And I really don't get it how you can say everyone is wealthy now by the 1950 standards.
Wha??? Even the beggars are bow wealthy by the feudal age standard?
I 'm missing something or I haven't had enough coffee.
Again, I said "almost everyone," so not necessarily including beggars. Consider how much things have really changed: http://www.youtube.com/watch?v=m-LJ3wZjD4I&t=3m45sThis speech is really good, thanks. |
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gandhibt
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November 24, 2013, 02:06:29 PM |
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fairly strong buys on gox in one minute - about half a million bux... good sign?
The best indicator about where the price is going is buying/selling. If people buy price goes up. If people sell price goes down. |
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Zangelbert Bingledack
Legendary
Offline
Activity: 1036
Merit: 1000
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November 24, 2013, 02:11:29 PM |
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I now he said that , but you didn't denied the word everyone , just the time frame.
And I really don't get it how you can say everyone is wealthy now by the 1950 standards.
Wha??? Even the beggars are bow wealthy by the feudal age standard?
I 'm missing something or I haven't had enough coffee.
Again, I said "almost everyone," so not necessarily including beggars. Consider how much things have really changed: http://www.youtube.com/watch?v=m-LJ3wZjD4I&t=3m45sThis speech is really good, thanks. You may also like: http://www.youtube.com/watch?v=BRhtmcxDSIs&t=3m15s |
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kurious
Legendary
Offline
Activity: 2590
Merit: 1643
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November 24, 2013, 02:13:45 PM |
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fairly strong buys on gox in one minute - about half a million bux... good sign?
The best indicator about where the price is going is buying/selling. If people buy price goes up. If people sell price goes down. Yeah I realise that - just hoped it would lift the doom and gloom around here |
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phoenix1
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November 24, 2013, 02:21:27 PM |
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I now he said that , but you didn't denied the word everyone , just the time frame.
And I really don't get it how you can say everyone is wealthy now by the 1950 standards.
Wha??? Even the beggars are bow wealthy by the feudal age standard?
I 'm missing something or I haven't had enough coffee.
Again, I said "almost everyone," so not necessarily including beggars. Consider how much things have really changed: http://www.youtube.com/watch?v=m-LJ3wZjD4I&t=3m45sThis speech is really good, thanks. You may also like: http://www.youtube.com/watch?v=BRhtmcxDSIs&t=3m15sMany hanks from me too Gonna take me a long time to digest everything you have posted this morning, but there are surely some gems in there Nice job |
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Wekkel
Legendary
Offline
Activity: 3108
Merit: 1531
yes
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November 24, 2013, 02:22:04 PM |
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fairly strong buys on gox in one minute - about half a million bux... good sign?
The best indicator about where the price is going is buying/selling. If people buy price goes up. If people sell price goes down. Longer term indicators (hour, 2-hour etc) are also picking up. If BTC-E swings back to $700 (a bigger 'IF' now), it is tempting to go all in again. |
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Grafzep
Member
Offline
Activity: 91
Merit: 10
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November 24, 2013, 02:22:34 PM |
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I should really post my wisdom concerning position management, because so many are clueless about it.
Please do. Ultimately, lack of understanding or thought about position management is probably responsible for a lot of weak handedness, because people don't have complete confidence in what they're doing. Once they start to panic, they think only of fiat assets and dump everything. The trick is to panic first. ...just be careful that you're not so first that you're alone |
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