OldGeek
Sr. Member
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Activity: 266
Merit: 250
Blitz:The price affects the perception of the news
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February 13, 2014, 08:13:12 AM |
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Good points traderCJ.
The fact is that everyone who trades as little as one satoshi is speculating about the future price of the miners reward.
I'm long-term bullish, short-term bearish, and completely mercenary.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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majakn
Newbie
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Activity: 47
Merit: 0
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February 13, 2014, 08:14:01 AM |
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someone wants out; someone wants in  Buyers will win |
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traderCJ
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February 13, 2014, 08:16:55 AM |
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I'm long-term bullish, short-term bearish, and completely mercenary.
I as well .. and I hate picking bottoms. |
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OldGeek
Sr. Member
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Activity: 266
Merit: 250
Blitz:The price affects the perception of the news
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February 13, 2014, 08:18:01 AM |
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I'm long-term bullish, short-term bearish, and completely mercenary.
I as well .. and I hate picking bottoms. I don't think I've ever hit the bottom or the top. Close counts. |
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traderCJ
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February 13, 2014, 08:26:43 AM |
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I'm long-term bullish, short-term bearish, and completely mercenary.
I as well .. and I hate picking bottoms. I don't think I've ever hit the bottom or the top. Close counts. So what's your take on Gox? Insolvent? Fix right around the corner? |
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OldGeek
Sr. Member
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Activity: 266
Merit: 250
Blitz:The price affects the perception of the news
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February 13, 2014, 08:34:35 AM |
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So what's your take on Gox? Insolvent? Fix right around the corner?
Not sure. Too many conflicting opinions for me to make sense of. I'm just watching that 1600 bid wall at 501 getting slowly eaten up. If it goes away there doesn't seem to be much support which to my mind means some more down pressure. |
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Frequency
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February 13, 2014, 08:35:15 AM |
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So what's your take on Gox? Insolvent? Fix right around the corner?
Not sure. Too many conflicting opinions for me to make sense of. I'm just watching that 1600 bid wall at 501 getting slowly eaten up. If it goes away there doesn't seem to be much support which to my mind means some more down pressure. and gone it is... |
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Carra23
Legendary
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Activity: 980
Merit: 1000
Need a campaign manager? PM me
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February 13, 2014, 08:36:08 AM |
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I enjoyed the Btc-e crash. Only wish I would have kept money aside for 100$. Bought in at $400.
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ShroomsKit
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February 13, 2014, 08:36:57 AM |
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Just keep dumping people. Keep pooping those pants. It's absolutely the smartest thing to do.
Why stop at 500 when we can go al the way to 200? Actually why stop there!
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ShroomsKit
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February 13, 2014, 08:41:55 AM |
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I enjoyed the Btc-e crash. Only wish I would have kept money aside for 100$. Bought in at $400.
At what point do people like you stop enjoying Bitcoin going down? 300? 100? 50? |
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OldGeek
Sr. Member
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Activity: 266
Merit: 250
Blitz:The price affects the perception of the news
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February 13, 2014, 08:42:14 AM |
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Now we go down a ways.
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seldon
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February 13, 2014, 08:42:30 AM |
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So at this point we go down, because we might go down?
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Frequency
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February 13, 2014, 08:43:28 AM |
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I enjoyed the Btc-e crash. Only wish I would have kept money aside for 100$. Bought in at $400.
At what point do people like you stop enjoying Bitcoin going down? 300? 100? 50? here we goooo...  |
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RicePicker
Full Member
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Activity: 216
Merit: 100
RicePicker
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February 13, 2014, 08:44:39 AM |
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Is every site getting DDOSed?
BTC-E, Bitfinex, Bitstamp, Bitcoinwisdom Down
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billyjoeallen
Legendary
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Activity: 1106
Merit: 1007
Hide your women
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February 13, 2014, 08:45:02 AM |
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People's understanding of the world comes from the models they use. Every model is an oversimplification, but when reality substantially diverges from what they expect to happen, they can tweak their models, reject them entirely and adopt new models, or they can blame some extraneous factor or anomaly that temporarily renders their predictions inaccurate.
I knew that there was going to be push-back from governments. I knew that there were glitches that hackers would attempt to exploit. I knew there was going to be volatility from momentum riders and I knew there were going to be cases of human fallibility (looking at you, Mark) that would adversely effect the ecosystem. What I didn't expect was that it would all happen at once. And yet the price is still >100% over the April 2013 high.
There are people in this forum and on this thread, who are either skeptical on Bitcoin's long-term success or who are outright certain of failure. Why would they spend so much time and effort reading and posting here? Cognitive dissonance can be a powerful motivating force, responsible for ideological and religious wars for millennia. Even if they have no money riding one way or another, they are smart enough to know that everyone has skin in this game. I say this to their credit because the alternative is to believe they're just assholes who like to annoy people. Whether or not Bitcoin succeeds is a big deal. It's not just about some people making or losing money. It's about how civilization functions. Can decentralized, distributed systems out compete and out perform hierarchical systems? The outcome of this experiment will be a strong indicator one way or another.
The models most people use will not only have to be tweaked if Bitcoin succeeds. They will have to be discarded and replaced. I don't think the majority of the skeptics really want Bitcoin to fail. I think they just want to make sure we're for real and not just starry-eyed idealists riding skittles-pooping unicorns. So we should be grateful for our adversities, because they will either make us stronger or expose our errors.
oh yeah, and CCMF!
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yrtrnc
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February 13, 2014, 08:45:09 AM |
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Btce offline for me  |
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ShroomsKit
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February 13, 2014, 08:47:18 AM |
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What's today's reason for the sheep to panic btw?
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Davyd05
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February 13, 2014, 08:48:03 AM |
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Is every site getting DDOSed?
BTC-E, Bitfinex, Bitstamp, Bitcoinwisdom Down
wisdom is fine for me, and my exchange is fine, canadian . my guess its traffic due to gox breaking 500 downwards. or maybe updates to wallet software etc |
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OldGeek
Sr. Member
Offline
Activity: 266
Merit: 250
Blitz:The price affects the perception of the news
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February 13, 2014, 08:48:38 AM |
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What's today's reason for the sheep to panic btw?
Fear? Insecurity? Who knows. |
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yrtrnc
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February 13, 2014, 08:49:01 AM |
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How about btc-e.com being down. Is that a good reason to PANIC!
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