billyjoeallen (OP)
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Activity: 1106
Merit: 1007
Hide your women
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June 24, 2011, 08:22:47 PM |
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Another crappy day on Wall Street. All the bitcoin bears and haterz seem to overlook the fact that, in spite of the bad press, the Trojan horse virus and the MtGox megahack, Bitcoin still is vastly outperforming the DJIA, the S&P 500 and the NASDAQ for the Day, the week, the month and the year.
Additionally, the exchange volume is now more evenly distributed between competing exchanges, exchange transaction fees are lower, exchange security is vastly improved and the software has been updated. More mining rigs are on line (capital investment), more vendors are offering goods for sale, and political opposition has fallen off the RADAR.
This is all evidence of a system vastly more robust than is presently perceived. This is not a prediction, but it's possible Bitcoin will never be this cheap again.
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insert coin here:
Dash XfXZL8WL18zzNhaAqWqEziX2bUvyJbrC8s
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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qualia8
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June 24, 2011, 10:53:29 PM |
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Seriously. I'm wishing I'd dumped my real money into BTC and play money into the market.
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dinzy
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June 24, 2011, 11:28:20 PM |
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Sitting on your money is outperforming the market over the last few weeks.
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billyjoeallen (OP)
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Activity: 1106
Merit: 1007
Hide your women
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June 24, 2011, 11:49:42 PM |
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Sitting on your money is outperforming the market over the last few weeks.
Judging by the negative yields in 1 month treasuries today, professional money managers are actually paying Tim Geithner to preventing them from investing in the worthless stock market! http://www.zerohedge.com/article/1-month-bill-0005 |
insert coin here:
Dash XfXZL8WL18zzNhaAqWqEziX2bUvyJbrC8s
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc
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chuckypalumbo
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June 25, 2011, 01:31:03 AM |
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Sitting on your money is outperforming the market over the last few weeks.
Judging by the negative yields in 1 month treasuries today, professional money managers are actually paying Tim Geithner to preventing them from investing in the worthless stock market! http://www.zerohedge.com/article/1-month-bill-0005The stock market is a disaster, people should be jumping into bitcoin and precious metals at every opportunity. |
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Justsomeforumuser
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Merit: 10
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June 25, 2011, 09:57:41 AM |
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Wow, what a smart statement that completely does not rely on 20/20 hindsight and could be just as applied to over 9000 penny stocks in the world that had similiar pump-and-dump action of xxx% change within a couple of weeks.
I agree though, the best investment choices are always those where you first were able to wait for the outcome, then travel back in time and make them.
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Ho-Hum.
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billyjoeallen (OP)
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Activity: 1106
Merit: 1007
Hide your women
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June 25, 2011, 11:36:55 AM |
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Wow, what a smart statement that completely does not rely on 20/20 hindsight and could be just as applied to over 9000 penny stocks in the world that had similiar pump-and-dump action of xxx% change within a couple of weeks.
I agree though, the best investment choices are always those where you first were able to wait for the outcome, then travel back in time and make them.
Regarding Bitcoin, there was more pumping than dumping. Bitcoin still has the same growth potential, just at a slower rate than was assumed during the mania. |
insert coin here:
Dash XfXZL8WL18zzNhaAqWqEziX2bUvyJbrC8s
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc
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AyeYo
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June 25, 2011, 05:01:02 PM |
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Wow, what a smart statement that completely does not rely on 20/20 hindsight and could be just as applied to over 9000 penny stocks in the world that had similiar pump-and-dump action of xxx% change within a couple of weeks.
I agree though, the best investment choices are always those where you first were able to wait for the outcome, then travel back in time and make them.
hahhahahha! Summed this thread up perfectly e-beer to you, sir. |
Enjoying the dose of reality or getting a laugh out of my posts? Feel free to toss me a penny or two, everyone else seems to be doing it! 1Kn8NqvbCC83zpvBsKMtu4sjso5PjrQEu1
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luv2drnkbr
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June 27, 2011, 01:05:33 PM |
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The market is a lie anyway. 9% a year average means nothing. Based on the cost of food and various forms of entertainment over the past century, USD inflation is about 7% per year. Add to that capitol gains tax and most people not smart enough to re-invest to avoid taxes, that gives you... you guessed it, 9% per year. The stock market is not a +EV game, it's a neutral EV game. Thankfully, just like with poker, people are dumb enough to give you an edge.
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tanerlorn
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Activity: 109
Merit: 10
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June 28, 2011, 02:12:21 AM |
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The market is a lie anyway. 9% a year average means nothing. Based on the cost of food and various forms of entertainment over the past century, USD inflation is about 7% per year. Add to that capitol gains tax and most people not smart enough to re-invest to avoid taxes, that gives you... you guessed it, 9% per year. The stock market is not a +EV game, it's a neutral EV game. Thankfully, just like with poker, people are dumb enough to give you an edge.
Well said mate. Its the only way to "break even" if you wish to hold, long-term, an inflationary currency. |
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