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

[janos666]

It will just get worse till all the buyers are gone.

I have not even started buying.

So you are not late to stop before ever started.

[Tzupy]

...
Ditto for the May/2014 bubble:  a jump from $450 to $600 was quite dramatic, but a jump from 800$ to 950$ would have been just noise.

Please stop referring to the May 2014 price rise as a "bubble". It is part of the deflation pattern of the November 2013 (mania phase of the) bubble.
IMO there are 2 reasons for the May 2014 uptrend (that I called bull trap): the PBoC stopped feeding bad news to the market, so the market lost some
downward momentum and the linear descending channel broke, which was inevitable at some point, otherwise price would have reached 0$ by now.

[N12]

Bitcoin is something new and can easily dissapear again unlike things like gold. That's why only a complete fucking idiot would compare Bitcoin to gold.

You do realize that you just compared Bitcoin to gold and then proceeded to call yourself a complete fucking idiot, right?

See one post up. Guy's a complete maniac, I hope he hasn't been hurting himself over this bear market.

[itod]

Will Bitcoin even survive another year of this shit. How much longer will there be buyers before everyone gives up? This can't and won't go on forever.

You have a bad understanding that short-term BTC price is relevant to success of the cryptocurrency. It absolutely doesn't matter if the price goes to $200 or rise to $2000 in the next half a year or two years, the important thing is number of services developed around BTC, the number of startups developing new use-cases, etc. The price is just a reflection of people's expectations how useful it will be in the future, not the other way around.

Bitcoin is something new and can easily dissapear again unlike things like gold. That's why only a complete fucking idiot would compare Bitcoin to gold by the way.
Like i mentioned 10 minutes ago for some reason a lot of people have a problem understanding that Bitcoin's future is far from guaranteed.

I haven't compared it to gold, you did.

[Blue]

Shroomskit and I fully agree with Jorge

to fundamentally understand the bitcoin phenomenon we have to get to the very bottom of it.

[molecular]

It will just get worse till all the buyers are gone.

I have not even started buying.

Because Bitcoin is guaranteed to survive and go up again?

Why would that be a reason to hold off buying?

[janos666]

Bitcoin is something new and can easily dissapear again unlike things like gold. That's why only a complete fucking idiot would compare Bitcoin to gold.

You do realize that you just compared Bitcoin to gold and then proceeded to call yourself a complete fucking idiot, right?

Blitz should append this to his quote.

[flynn]

Doge Bubble

[janos666]

Doge Bubble

img

Didn't you mean DarkCoin pump?

[ShroomsKit]

It will just get worse till all the buyers are gone.

I have not even started buying.

Because Bitcoin is guaranteed to survive and go up again?

Why would that be a reason to hold off buying?

So you agree it might dissapear and people just might stop buying. Great. Finally someone here is starting to get it.

[molecular]

It will just get worse till all the buyers are gone.

I have not even started buying.

Because Bitcoin is guaranteed to survive and go up again?

Why would that be a reason to hold off buying?

So you agree it might dissapear and people just might stop buying. Great. Finally someone here is starting to get it.

Oh yes, I agree. Bitcoin might disappear. Just like the moon might disappear.

Also: try closing your eyes... see? No Bitcoin!

[ssmc2]

It's affirming to every now and again do a show/hide on ole' shroomporkchops and see you did in fact make the right call.

[grappa_barricata]

The important thing is to keep lamenting, it is the most rational thing to do. And if that doesn't work out then try to make more noise. That is the way to success.

[inca]

It's affirming to every now and again do a show/hide on ole' shroomporkchops and see you did in fact make the right call.

It is difficult because interspersed in the drivel there are occasional comments worthy of merit.

[justusranvier]

What about all those little barracudas that do both, just to survive? Do you really consider them retarded, from the highs of your lucky-early-adopter-loaded position?

It's not a matter of how many Bitcoins I do or do not have - it's a known fact that day trading (in general, not specific to BItcoin) is a negative sum game.

Anybody who is not cheating is just achieving random returns.

Over long time scales, the lifetime returns of all investors converge to the same average value (except for the ones that manage to cheat).

[molecular]

What about all those little barracudas that do both, just to survive? Do you really consider them retarded, from the highs of your lucky-early-adopter-loaded position?

It's not a matter of how many Bitcoins I do or do not have - it's a known fact that day trading (in general, not specific to BItcoin) is a negative sum game.

Anybody who is not cheating is just achieving random returns.

Over long time scales, the lifetime returns of all investors converge to the same average value (except for the ones that manage to cheat).

There's another way to "win" at this: get out while you're on top. Works in conjunction with "random results", but is hard to do, because when you're having a lucky streak, it's usually quite a bit of fun.. why leave?

[S3052]

What about all those little barracudas that do both, just to survive? Do you really consider them retarded, from the highs of your lucky-early-adopter-loaded position?

It's not a matter of how many Bitcoins I do or do not have - it's a known fact that day trading (in general, not specific to BItcoin) is a negative sum game.

Anybody who is not cheating is just achieving random returns.

Over long time scales, the lifetime returns of all investors converge to the same average value (except for the ones that manage to cheat).

I agree with you that many traders lose money.

However, there is hard data showing that about 1 out of 1000 traders are very successful and outperform the market by large margins - on day trading as well as more long term investing strategies

[grappa_barricata]

What about all those little barracudas that do both, just to survive? Do you really consider them retarded, from the highs of your lucky-early-adopter-loaded position?

It's not a matter of how many Bitcoins I do or do not have - it's a known fact that day trading (in general, not specific to BItcoin) is a negative sum game.

Anybody who is not cheating is just achieving random returns.

Over long time scales, the lifetime returns of all investors converge to the same average value (except for the ones that manage to cheat).

So, to be clear, day-trading is bad and bounded to failure but month-trading or year-trading ('investing') is all good and dandy. Is that correct?

[justusranvier]

There's another way to "win" at this: get out while you're on top. Works in conjunction with "random results", but is hard to do, because when you're having a lucky streak, it's usually quite a bit of fun.. why leave?

Same strategy works on slot machines.

It's fine for people who understand they are gambling, but there's a tendency for people to start believing they that it's a game of skill instead of a game of chance.

[justusranvier]

So, to be clear, day-trading is bad and bounded to failure but month-trading or year-trading ('investing') is all good and dandy. Is that correct?

I don't trade.

I emigrated.