molecular
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July 21, 2013, 09:02:23 PM |
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I did pick my words: "What would cause this?" Sellers must outnumber buyers, which can happen temporarily, and BTC may find its home in the 80s for some time, but I don't see any more "long and painful slide", because the new entrants are just so much more numerous as the current holders. Just as in late 2011. It took about a year for me from hear to buy. So is it with the 5 million new ones. The only reason to sell now is capitulation. If you plan to buy back cheaper, good luck - panic hold is just better strategy  Ok, so a year from now we can expect a rise based on these new and arbitrary 5 million "new ones"? Great, so your comments mean nothing in relation to what's going on today or over the next couple of weeks. So from all of this, we have learned nothing except what we already knew, which is, BTC is still going down. Thanks for wasting 5 minutes of my life, that I will never get back.  I don't understand. Which down? Sideways down? |
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molecular
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July 21, 2013, 09:05:38 PM |
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ripietila has a point: it takes time from hearing about bitcoin to buying it. Last year I estimated this time to be 6 weeks (and called the january rocket pretty well using this approach). Maybe for the kind of people having heard of bitcoin during the spring '13 bubble this time is much longer. Many months, maybe even years to gain trust in this new-fangled hacker-thing. They need to see bitcoin is still around after much time to gain that trust.
Everyone agrees that (barring anything really bad happening) bitcoin will go up substantially again at some point in time.
Quite frankly: if this isn't going down soonish, it isn't going down at all.
The clock is ticking, bears...
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Frozenlock
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July 21, 2013, 09:12:19 PM |
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Quite frankly: if this isn't going down soonish, it isn't going down at all.
The clock is ticking, bears...
Really? My impression was quite to the contrary... if it doesn't go up soon, it's going down.  |
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molecular
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July 21, 2013, 09:18:09 PM |
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Quite frankly: if this isn't going down soonish, it isn't going down at all.
The clock is ticking, bears...
Really? yes, I can literally hear it: tick tack, tick tack. My impression was quite to the contrary... if it doesn't go up soon, it's going down. bears repeating their wishes here over and over can make quite an impression, I agree with that. |
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Coinseeker
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July 21, 2013, 09:20:27 PM |
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I don't understand. Which down? Sideways down?
Zoom out to D3. |
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ElectricMucus
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Marketing manager - GO MP
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July 21, 2013, 09:49:09 PM |
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No comments on this epic 100 Bitcoin rally?
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Walsoraj
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July 21, 2013, 09:53:41 PM |
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I don't understand. Which down? Sideways down?
Zoom out to D3. /refuse W1 and D3 make me sad  Therefore, i deny their existence  |
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Coinseeker
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July 21, 2013, 09:59:57 PM |
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No comments on this epic 100 Bitcoin rally?
Can't you even be patient? According to the permabull king, it takes a year for someone to learn how to buy Bitcoin. Sheesh! |
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 21, 2013, 10:01:07 PM |
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ElectricMucus
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July 21, 2013, 10:01:17 PM |
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Somebody bought another 100 coins, that'll show us.
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samson
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July 21, 2013, 10:20:03 PM |
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I don't understand. Which down? Sideways down?
Zoom out to D3. I can see a clear pattern on that D3 chart. Each high is lower than the previous and it looks like we just had a new lower high of around $104 on our long journey towards the bottom. |
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ChartBuddy
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July 21, 2013, 11:01:20 PM |
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Wagner2014
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July 21, 2013, 11:14:38 PM |
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I don't understand. Which down? Sideways down?
Zoom out to D3. I can see a clear pattern on that D3 chart. Each high is lower than the previous and it looks like we just had a new lower high of around $104 on our long journey towards the bottom. Bingo...until the trend changes, the current term trend is down...the bubble is still deflating. |
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Walsoraj
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July 21, 2013, 11:18:08 PM |
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Hmmm...
I've got suspicions...
Who wants to help Walz compare that clark moody 3day abomination with mortgage rates over same period? I think we might learn something.
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NewLiberty
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Gresham's Lawyer
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July 21, 2013, 11:33:26 PM
Last edit: July 21, 2013, 11:47:47 PM by NewLiberty |
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...
Fractional reserve is a confidence game. Why else do banks build such impressive structures? They want your confidence. I'm not saying it can't be done, or even that you can't do it. If it will work anywhere, it will probably work in a high-trust society like USA.
Are you saying that my Bitcoin fractional reserve lending is no better than the fiat lending we know & love? I agree. All i wanted to show is fractional reserve lending could be done without inflationary currency -- what did you think i was trying to prove? I just want to see your magic trick. I have x bitcoins. I issue you & 10 other people letters of credit for x/9. Magic.  We both know how the trick is performed long before we started this dialog, it was done with gold (inflationary only in geologic time). So don't need proof, just a performance. Show me the rubes that will sign on for accepting the debt (!bitcoin) of fractional reserve lending of Bitcoin, as a payment for something. I'm sure they are out there, it is a ancient and brilliant con. I want to meet these marks, these rubes, and to see you do the trick. I am also curious to discover what they think after they learn the secret of the trick. When the illusion is revealed and they realize that the emperor never had any clothes, nor do any of the other emperors, and they aren't wearing much themselves either. When their exposure is exposed, they just may want to buy some of my bitcoins, or my precious metals (but I won't be taking any of their !bitcoin for that). Or if it is too much work, just point me to someone else that is doing it, and I can have my fun. |
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ChartBuddy
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July 22, 2013, 12:01:13 AM |
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N12
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July 22, 2013, 12:12:44 AM |
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Hype is dying, interest is dying, people are leaving. Such is the long, drawn out process of deflating a bubble.
It's visible in all indicators, USD leaving the market, google trends, your node stats, r/bitcoin, even bitcointalk.
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samson
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July 22, 2013, 12:23:17 AM |
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Hype is dying, interest is dying, people are leaving. Such is the long, drawn out process of deflating a bubble.
It's visible in all indicators, USD leaving the market, google trends, your node stats, r/bitcoin, even bitcointalk.
All signs point down |
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N12
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July 22, 2013, 12:25:16 AM |
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Thanks for this great archive btw, Voktar, though I wish we had the stats for April, specifically mid April.
Interestingly, even though all those indicators are pointing to Bitcoin losing users, losing publicity, you will not hear this story told on any Bitcoin medium, or upvoted on r/Bitcoin. Instead, you will be served post-bubble delusions of Africa, Argentina, Turkey, Cyprus. We can guess why that is.
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BitPirate
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RMBTB.com: The secure BTC:CNY exchange. 0% fee!
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July 22, 2013, 12:42:38 AM |
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Hype is dying, interest is dying, people are leaving. Such is the long, drawn out process of deflating a bubble.
It's visible in all indicators, USD leaving the market, google trends, your node stats, r/bitcoin, even bitcointalk.
All signs point down Bear circle jerk in full force. Spoken with such certainty. Ridiculous and rather pathetic. |
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