NotLambchop
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November 15, 2014, 02:44:40 PM |
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[well-reasoned arguments]
Jorge, you are not dealing with college students. Think classroom of pre-teens, wired out on sugary snacks, attention span insufficient to fully process complete sentences. TL;DR: Short sentence fragments and .gifs, if you want to get anywhere.
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wmr42393
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November 15, 2014, 02:45:14 PM |
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LOL, this is hopping back to $385/$390 so quick.. way oversold.
Not oversold. Just the usual group of idiot monkeys who keep dumping till noone dares to buy anymore. They will do everything in their power to make sure the price stays down. Anyway, back to 320-350 for another 2 months. Trading advice, whatever he says.. do the opposite.
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Le Happy Merchant
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November 15, 2014, 02:46:06 PM |
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Well I'm visiting Bitcoin street in Amsterdam next week. Hopefully the market will realize there is no reason to drop by then.
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ShroomsKit
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 15, 2014, 02:47:13 PM |
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LOL, this is hopping back to $385/$390 so quick.. way oversold.
Not oversold. Just the usual group of idiot monkeys who keep dumping till noone dares to buy anymore. They will do everything in their power to make sure the price stays down. Anyway, back to 320-350 for another 2 months. Trading advice, whatever he says.. do the opposite. Yawn.
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LFC_Bitcoin
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#1 VIP Crypto Casino
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November 15, 2014, 02:48:51 PM |
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LOL, this is hopping back to $385/$390 so quick.. way oversold.
Not oversold. Just the usual group of idiot monkeys who keep dumping till noone dares to buy anymore. They will do everything in their power to make sure the price stays down. Anyway, back to 320-350 for another 2 months. Trading advice, whatever he says.. do the opposite. Yawn. 'I sold all my coins, this pump & dump coin is dead' A few hours later 'The only people who do well is the HODLERS like me' Derp
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mah87
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-Bitcoin & Ripple-
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November 15, 2014, 02:51:05 PM |
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Ripple is the only way for crypto
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rebuilder
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November 15, 2014, 02:53:53 PM |
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Units of accounting in the unspent transaction outputs in the longest branch of the Satoshi20090103 blockchain (aka "bitcoins") are indeed scarce, as long as Gavin and the miners refrain from changing the protocol; but there is a potentially infinite number of blockchains with the same properties.
If, at some time in the future, a better altcoin comes along (say, with a 0.1 second mean confirmation time, or a distributed trustless way to seize and return stolen bitcoins), and takes over the bitcoin "market", there will be no central bank to swap old bitcoins for new ones at a fixed rate. Some owners of old bitcoins may be able to sell them to suckers in exchange for new ones, before they become worthless; but many will inevitably lose the money that they invested in BTC.
Bitcoin mining is currently financed by an "inflation tax" of 5-10% per year. At some point, that inflation will stop and the miners will start to require transaction fees. No one knows how much those fees will be, but mining is already an oligopoly market so a cartel of 2-3 mining companies can set the fees to whatever gives them maximum net revenue. By the way, those fees will apply to every transaction, including hotwallet-coldwallet moves, BTC deposits and withdrawals, etc..
There are no blockchains with the same properties: The property of block history will be different. A large part of why Bitcoin must be considered experimental and dangerously volatile now, and for a long time to come, is that the trust model it proposes relies on building a history of flawless operation. No technical innovation can create this out of thin air, the only way to build it is by letting the system run and see what happens. The longer Bitcoin keeps working without being overtaken by an altcoin or succumbing to some flaw, technical or political, the greater its perceived reliability becomes. There are a number of questions the Bitcoin system is seeking to answer right now, like what economical effect will the distribution model chosen end up having. One such question is: How much security does first-mover advantage provide in the crypto space? The only way to really find out is to wait, potentially forever. In the meantime, people act on their expectations.
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abs350
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November 15, 2014, 02:55:58 PM |
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No amount of bullshitting can justify the price of bitcoin.
Nope!!!
Its too unpredictable.
Only way to make money is to play poker a la bitcoin. Oh, and have some balls.
No amount of analysis can substitute for balls.
Get involved. Hint: Go short.
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ejinte
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November 15, 2014, 02:56:25 PM |
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Ripple is the only way for crypto
Someone said ripple is shit.
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ShroomsKit
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 15, 2014, 02:57:34 PM |
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So will we get another round of
Just shaking out the weak hands. Cheap coins! Big money secretly accumulating.
And other bullshit or are we finally realizing Bitcoin turned into a ridiculous pump and mainly dump controlled by a few who will try to take the price down till every single buyer is gone and it has become completely worthless?
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LFC_Bitcoin
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November 15, 2014, 02:59:30 PM |
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So will we get another round of
Just shaking out the weak hands. Cheap coins! Big money secretly accumulating.
And other bullshit or are we finally realizing Bitcoin turned into a ridiculous pump and mainly dump controlled by a few who will try to take the price down till every single buyer is gone and it has become completely worthless?
Why do you care? You said less than a month ago that you sold everything at 400 USD, why are you even still here?
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wmr42393
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November 15, 2014, 03:00:01 PM |
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So will we get another round of
Just shaking out the weak hands. Cheap coins! Big money secretly accumulating.
And other bullshit or are we finally realizing Bitcoin turned into a ridiculous pump and mainly dump controlled by a few who will try to take the price down till every single buyer is gone and it has become completely worthless?
No just to get the price down until schizophrenic people like you sell. Then they will pump it again.
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N12
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November 15, 2014, 03:00:54 PM |
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I will leave this place soon. Bitcoin is dead, it's only down from here and i sold everything i got quite a while ago so there is nothing for me here anymore. I tried to help the few delusional bulls who just won't give up but they don't appreciate my warnings very much. Ah well, your money. I don't care really. I'll come back every 50 dollar drop for some entertainment. So long and thanks for buying my coins at 400. Poor schmucks.
Good luck with your pump and dump coin.
I feel sorry for all the idiots who sold at these ridiculous prices and i will laugh at all the bears who will get caught in trap after trap the coming weeks.
The only winners are the holders (like me) and the people who pick up the last cheap coins while they can.
We're going up and it's confirmed!
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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November 15, 2014, 03:01:18 PM |
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criptix
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November 15, 2014, 03:03:00 PM |
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Units of accounting in the unspent transaction outputs in the longest branch of the Satoshi20090103 blockchain (aka "bitcoins") are indeed scarce, as long as Gavin and the miners refrain from changing the protocol; but there is a potentially infinite number of blockchains with the same properties.
If, at some time in the future, a better altcoin comes along (say, with a 0.1 second mean confirmation time, or a distributed trustless way to seize and return stolen bitcoins), and takes over the bitcoin "market", there will be no central bank to swap old bitcoins for new ones at a fixed rate. Some owners of old bitcoins may be able to sell them to suckers in exchange for new ones, before they become worthless; but many will inevitably lose the money that they invested in BTC.
Bitcoin mining is currently financed by an "inflation tax" of 5-10% per year. At some point, that inflation will stop and the miners will start to require transaction fees. No one knows how much those fees will be, but mining is already an oligopoly market so a cartel of 2-3 mining companies can set the fees to whatever gives them maximum net revenue. By the way, those fees will apply to every transaction, including hotwallet-coldwallet moves, BTC deposits and withdrawals, etc..
There are no blockchains with the same properties: The property of block history will be different. A large part of why Bitcoin must be considered experimental and dangerously volatile now, and for a long time to come, is that the trust model it proposes relies on building a history of flawless operation. No technical innovation can create this out of thin air, the only way to build it is by letting the system run and see what happens. The longer Bitcoin keeps working without being overtaken by an altcoin or succumbing to some flaw, technical or political, the greater its perceived reliability becomes. There are a number of questions the Bitcoin system is seeking to answer right now, like what economical effect will the distribution model chosen end up having. One such question is: How much security does first-mover advantage provide in the crypto space? The only way to really find out is to wait, potentially forever. In the meantime, people act on their expectations. another point would be trust in the system. one of the reasons the biggest ponzi scheme called fiat is still working ![Sad](https://bitcointalk.org/Smileys/default/sad.gif) of course until something better arrives; oh wait - bitcoin ![Kiss](https://bitcointalk.org/Smileys/default/kiss.gif)
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Chang Hum
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November 15, 2014, 03:04:36 PM |
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close you could fairly say I'm describing a lot of penny stocks, however a typical stocks value isn't an arbitrary figure as a profitable company adds value to the stock in terms of re-investing in the underlying business and to share holders in the form of dividends.
When there *are* dividends, it is possible to fairly value a stock but when there are not and the price is based on reinvestment, you may be using some similar indicators to value a company but you are still basically relying on "greater fool". I do agree there are a lot of stocks that rely on the greater fool and investing in them often times ends badly, but I think that's a bit of a simplistic view. Although it can be nice as a shareholder to get paid a dividend (there can also be tax drawbacks), a company should really only use it's profits to pay one as a last resort after considering whether the money could be more wisely spent re-investing back into the business, making acquisitions or buying back their own stock if they consider it undervalued. The growing tangible value of a company is just as relevant to a stocks price as whether or not a dividend is paid as are a company earnings.
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NotLambchop
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November 15, 2014, 03:05:14 PM |
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Not like this is a new thing... ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fs30.postimg.org%2F72sldhkkh%2Fbears.jpg&t=665&c=OXOREcwGH63DVQ)
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