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Author Topic: Price drop below $10 will set back bitcoin one year or more  (Read 3105 times)
jgraham
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July 05, 2011, 01:50:13 AM
 #21

. If bitcoin prices approach $10, there will be a panic sale taking the prices to $2-$3. From here it will take a year or more for bitcoin to recover, if at all.

It's my professional opinion that predictions like this are barely lucid when they aren't overly broad.   Is it my imagination or does it seem that  everyone assumes that anyone who posts here are either a) What they claim to be or b) What they claim to be actually has significance (MBA has to be one of the most moronically broad graduate degrees).

I'm rather good with Linux.  If you're having problems with your mining rig I'll help you out remotely for 0.05.  You can also propose a flat-rate for some particular task.  PM me for details.
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DrYe5
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July 05, 2011, 02:06:22 AM
 #22

. If bitcoin prices approach $10, there will be a panic sale taking the prices to $2-$3. From here it will take a year or more for bitcoin to recover, if at all.

It's my professional opinion that predictions like this are barely lucid when they aren't overly broad.   Is it my imagination or does it seem that  everyone assumes that anyone who posts here are either a) What they claim to be or b) What they claim to be actually has significance (MBA has to be one of the most moronically broad graduate degrees).

OPs previous posts seem legit. If I were running a bitcoin business I'd be stressed by the present decline.

The problem is that mining has basically failed as a method of automating currency supply. Instead it has blown a speculative bubble and put the power to inflate in the hands of a small class of technocratic elite. The thin trading we see between the swings is the real bitcoin economy and it is tiny. Serious logistical issues, systematic lack of trust in trading institutions and imminent government meddling suggest the present price is not worth the risk.

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jgraham
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July 05, 2011, 02:11:02 AM
 #23

. If bitcoin prices approach $10, there will be a panic sale taking the prices to $2-$3. From here it will take a year or more for bitcoin to recover, if at all.

It's my professional opinion that predictions like this are barely lucid when they aren't overly broad.   Is it my imagination or does it seem that  everyone assumes that anyone who posts here are either a) What they claim to be or b) What they claim to be actually has significance (MBA has to be one of the most moronically broad graduate degrees).

OPs previous posts seem legit. If I were running a bitcoin business I'd be stressed by the present decline.
.

Here is my problem all that tells me is he is sincere.  The number of people who are sincerely wrong is myriad . ;-)

I'm rather good with Linux.  If you're having problems with your mining rig I'll help you out remotely for 0.05.  You can also propose a flat-rate for some particular task.  PM me for details.
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