The Bear Market is officially...OFF?!?

[bitleif]

Exchanges being hacked, Exchanges stealing money, Wallet services getting hacked, Your wallet getting Hacked or deleted, Misplaced, stolen, or forgotten private key

Security is generally increasing, Rome wasn't built in a day. Just see how long it's taken for something like MS Windows to become reasonably secure. Sites will improve their game with increased competition, and better tools/software for personal wallet management is inevitable as the user base grows.

Unless you use escrow (which involves trusting a third party) the buyer risks a no delivery of goods and/or services with no recourse. Check out the scammer accusation subforum.

No chargebacks is an inherent feature of bitcoin. It doesn't really increase risk though, it just MOVES risk from the receiver to the sender. The flip side is that it's much safer to GET money with bitcoin. In any case I  suspect escrow services will become standardized with time.

You also have to download a bloated blockchain (which takes forever, hogs space on your computer, and may contain child porn) or trust a third party wallet source

Full blockchain download isn't required for everyday use, use eg. MultiBit. In any case this is a software/optimization issue, as there are many suggestions for how to improve performance even for full clients.

As far as I can tell, the miners and devolpers are the government. When the blockchain forked a month or two ago, the developers and miners (or at least a mojority of them) decided which fork would be the valid one, and the choice was to comply or be left behind. The developers also have the power to change the protocol as they see fit, giving them the ultimate power over bitcoin. As an end user, I have no power over any of that.

Devs have no chance in hell of pushing through changes unless a large majority of users agree. Unless everybody is conspiring against you in particular, you can trust the majority to have the same interests as you - to protect their own money.

[virtualfaqs]

You can get upset if you like, but it doesn't change the fact that the only justification for a price rise from $20 to $260 in less than 4 months is speculation driven by media hype (not fundamentals).  This has nothing to do with negativity and everything to do with trading realistically and without emotion.

That's my way of thinking too and waiting to buy. But I'm worried by alternative crytopcurrencies. They are zapping money from the BTC price.

isn't that point though it unwinds the early adopter BTC in more hands, makes it more like a currency....also competition is good...may the best coin win, and it force you to hold some of each

Possibly. But I don't want to be holding the wrong coin at the wrong time.

[Odalv]

The bear TRAP market is on ...
1. double bear trap $90-$50 (more than milion btc lost)
2. $140-$90 is the next trap

[ElectricMucus]

The bear TRAP market is on ...
1. double bear trap $90-$50 (more than milion btc lost)
2. $140-$90 is the next trap

That's easy to shout when the price bounces from oversold conditions. Come back in a week, then do it.

[virtualfaqs]

Unless you use escrow (which involves trusting a third party) the buyer risks a no delivery of goods and/or services with no recourse. Check out the scammer accusation subforum.

No chargebacks is an inherent feature of bitcoin. It doesn't really increase risk though, it just MOVES risk from the receiver to the sender. The flip side is that it's much safer to GET money with bitcoin. In any case I  suspect escrow services will become standardized with time.

Escrow isn't 100% safe either. If the other party tries to screw you, you don't know for sure the escrow will rule for you. PayPal disputes are generally ruled in the buyer's favor. And sometimes that's how it works when "tie goes to buyer" or when the seller can't provide sufficient evidence that a virtual item was delivered.

[Odalv]

The bear TRAP market is on ...
1. double bear trap $90-$50 (more than milion btc lost)
2. $140-$90 is the next trap

That's easy to shout when the price bounces from oversold conditions. Come back in a week, then do it.

Do not worry, I'll be here few years. :-)

[ElectricMucus]

The bear TRAP market is on ...
1. double bear trap $90-$50 (more than milion btc lost)
2. $140-$90 is the next trap

That's easy to shout when the price bounces from oversold conditions. Come back in a week, then do it.

Do not worry, I'll be here few years. :-)

You better be.

[dbanga85]

I hate to see a Bear Market... You guys get Trapped ALL THE FUCKING TIME While some Millionaire is on a Island sipping margaritas collecting the easiest money ever. Hell Im in my home office collecting some easy money.

[nobbynobbynoob]

The bear TRAP market is on ...
1. double bear trap $90-$50 (more than milion btc lost)
2. $140-$90 is the next trap

It seems other commodities have been sold off a bit lately too. Holiday blues? Short-term demand for USD has clearly risen.

We could view it as a bull trap for the dollar.

[Odalv]

3. and soon you will realize $230-$140  biggest one.

[ElectricMucus]

3. and soon you will realize $230-$140  biggest one.

Sounds like you bought at $140-$230 earlier this month.
Did you?

[Odalv]

3. and soon you will realize $230-$140  biggest one.

Sounds like you bought at $140-$230 earlier this month.
Did you?

In november 2012 (but I'm trading with small amount .. not daytrade)

[ElectricMucus]

3. and soon you will realize $230-$140  biggest one.

Sounds like you bought at $140-$230 earlier this month.
Did you?

In november 2012

I always smile on the inside when people claim to have bought in before their registration date. ripetila is that you? 

[Odalv]

3. and soon you will realize $230-$140  biggest one.

Sounds like you bought at $140-$230 earlier this month.
Did you?

In november 2012

I always smile on the inside when people claim to have bought in before their registration date. ripetila is that you? 

Do what you want. No I'm not ripetila.

[bitleif]

I always smile on the inside when people claim to have bought in before their registration date. ripetila is that you? 

Well, I did? Not long before, but still. Seems the most natural order of doing things really.

[Jutarul]

There might be a bounce up to $120-125, but I sold out the last of the little I had at 105.

Did cost me about 20% of my meager holdings, but I think FIAT is the safest atm. Have put in buy orders at 80-90 though, because I think it might linger in the $100 area before heading further down.

That's the kind of thinking which got us in the economic mess in the first place.

What economy?

The one which includes "Bitcoin Supernodes"?

Actually I am referring to the real economy. Stop-loss and other mechanisms are ways to deprive people of their money without legal recourse, because the blame can be shifted onto the market. So big players have a huge incentive for market manipulations.

You could say that it's their own fault (stop-loss sellers) for falling for those tricks, but that's attacking the innocent.

[evolve]

I hate to see a Bear Market... You guys get Trapped ALL THE FUCKING TIME While some Millionaire is on a Island sipping margaritas collecting the easiest money ever. Hell Im in my home office collecting some easy money.

Notice that since the bubble top,  each time the price "recovers" it settles at a lower price than the last "recovery" (before crashing down again).  The only ones who are getting trapped are the pigs that are "holding forever" and the bulls trying to catch a falling knife. Bears (for the most part) are either shorting the market, or staying out altogether because they've already locked in profits or are past their risk vs reward comfort zone.

[Odalv]

I hate to see a Bear Market... You guys get Trapped ALL THE FUCKING TIME While some Millionaire is on a Island sipping margaritas collecting the easiest money ever. Hell Im in my home office collecting some easy money.

Notice that since the bubble top,  each time the price "recovers" it settles at a lower price than the last "recovery" (before crashing down again).  The only ones who are getting trapped are the pigs that are "holding forever" and the bulls trying to catch a falling knife. Bears (for the most part) are either shorting the market, or staying out altogether because they've already locked in profits or are past their risk vs reward comfort zone.

When did you lock in profits ? (what is your "reward comfort zone" ?)

[evolve]

*stuff*

Yes, but again, none of that justifies the meteoric price rise that we saw over the last 4 months.

[fitty]

Hold on to your pants guys...its gonna get crazy.  

Secretly, I hoped the pigs were right and we would bubble up again, but every day it looks more and more like this bubble is going to pop all the way...take profits while you can guys, it may be your last chance.



1yr chart, closing price *self updating*

You got your animals mixed up. I'm surprised a 1 year chart wasn't able to accurately predict the future trades in the Bitcoin market. Who woulda thunk it.

Bears you are welcome to buy back in at a higher price point, no one will look down on you.