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Author Topic: Bitcoin will never reach $20 again  (Read 36934 times)
axus
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August 15, 2012, 07:00:36 PM
 #261

Bubbles never slow down, do they?  If it took a month for the price to go $5 -> $12, then it should hit $20 in under a month.  I'm looking forward to it, I spent $100 on bitcoins when they were at $20 in the last bubble.  I was actually trying to buy at $10, but with the Dwolla and MtGox transfer time it had already hit $20.

And you never sold them to buy back lower when price was heading south so fast? That is impressive.  Shocked

Yeah, Mt. Gox was hacked soon after, and I couldn't access the account for a month.  Gives me  hope that Intersango will make it, if they hire some people and change management.  I didn't need to $25 so bad, figured there would be another bubble eventually.  I've got a sell order of 2.5 BTC @ $40 each, if we are in another bubble I'll break even and have some coins left over Smiley

You're right, it took more than a month... I'd been checking the price every couple days on http://bitcoincharts.com/charts/mtgoxUSD/accumulated_orderbook.png didn't realize how much time has passed!
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kano
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January 25, 2013, 06:59:15 AM
 #262

So ... anyway ... closest it's been yet was in the last 24 hours Smiley
Gox Last: $16.34857 High: $19.18999 Low: $15.38613

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January 25, 2013, 07:33:13 AM
 #263

There are always people more impatient than me....

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January 25, 2013, 07:40:10 AM
 #264

19.20 is the new 7.20

Plan accordingly Cheesy
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January 25, 2013, 02:33:30 PM
 #265

Keep in mind the time of this original post was right after the huge crash in 2011 where everyone was saying Bitcoin was done for. It echoes the sentiment of the time.
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January 25, 2013, 02:48:23 PM
 #266

Keep in mind the time of this original post was right after the huge crash in 2011 where everyone was saying Bitcoin was done for. It echoes the sentiment of the time.
Or, instead of making up excuses for the OP, check the reality of what he said ... (in reply to my post in the post after)
https://bitcointalk.org/index.php?topic=27348.msg415431#msg415431

Edit: and these two comparatively interesting posts Smiley
 https://bitcointalk.org/index.php?topic=27348.msg580099#msg580099
and
 https://bitcointalk.org/index.php?topic=27348.msg1101237#msg1101237

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January 25, 2013, 02:50:49 PM
 #267

This poor guy has missed the greatest opportunity that one may not encounter in the whole life

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January 25, 2013, 04:01:05 PM
 #268

Keep in mind the time of this original post was right after the huge crash in 2011 where everyone was saying Bitcoin was done for. It echoes the sentiment of the time.

The only people who thought bitcoin was done for, were those only in it for the profit and not informed enough to understand bitcoin's significance.

The price of bitcoins does not matter for bitcoin the protocol.

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January 25, 2013, 05:59:46 PM
 #269

Keep in mind the time of this original post was right after the huge crash in 2011 where everyone was saying Bitcoin was done for. It echoes the sentiment of the time.

The only people who thought bitcoin was done for, were those only in it for the profit and not informed enough to understand bitcoin's significance.

The price of bitcoins does not matter for bitcoin the protocol.



I remember those "dark months" after the bubble, where nearly everyone on the forum was spouting the most negative crap. I think people who didn't understand this thing lost a lot of money, and wanted to make the community feel bad about it.

Those of us who stuck through it were the ones who took their profit.  From weak hands to strong. This capital is too important to be in the hands of those who don't understand the potential of this system.
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January 25, 2013, 06:08:04 PM
 #270

Remember when every other thread was about bitcoins imminent demise? My fav was the one predicting sub-0 prices.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin=https://bitcointalk.org/index.php?topic=1610684
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January 25, 2013, 06:25:04 PM
 #271

Keep in mind the time of this original post was right after the huge crash in 2011 where everyone was saying Bitcoin was done for. It echoes the sentiment of the time.

The only people who thought bitcoin was done for, were those only in it for the profit and not informed enough to understand bitcoin's significance.

The price of bitcoins does not matter for bitcoin the protocol.



I remember those "dark months" after the bubble, where nearly everyone on the forum was spouting the most negative crap. I think people who didn't understand this thing lost a lot of money, and wanted to make the community feel bad about it.

Those of us who stuck through it were the ones who took their profit.  From weak hands to strong. This capital is too important to be in the hands of those who don't understand the potential of this system.

I initially bought in at $14 after the high (i didn't understand the idea of correction at that point, but from the start I understood the fundamental idea of Bitcoin and stayed with it) - I sold out at about $7 due to cowardice, but I still believed and waited for some positive signs and bought back in more substantially at around $3.
I suspect every newbie goes through this at the price point they first buy into  - belief, hope, despair, hope, belief.
Bitcoin is a baptism of fire.
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January 25, 2013, 08:44:28 PM
 #272

Keep in mind the time of this original post was right after the huge crash in 2011 where everyone was saying Bitcoin was done for. It echoes the sentiment of the time.

The only people who thought bitcoin was done for, were those only in it for the profit and not informed enough to understand bitcoin's significance.

The price of bitcoins does not matter for bitcoin the protocol.



I remember those "dark months" after the bubble, where nearly everyone on the forum was spouting the most negative crap. I think people who didn't understand this thing lost a lot of money, and wanted to make the community feel bad about it.

Those of us who stuck through it were the ones who took their profit.  From weak hands to strong. This capital is too important to be in the hands of those who don't understand the potential of this system.

I initially bought in at $14 after the high (i didn't understand the idea of correction at that point, but from the start I understood the fundamental idea of Bitcoin and stayed with it) - I sold out at about $7 due to cowardice, but I still believed and waited for some positive signs and bought back in more substantially at around $3.
I suspect every newbie goes through this at the price point they first buy into  - belief, hope, despair, hope, belief.
Bitcoin is a baptism of fire.
At least we've put the despair part behind us.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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January 25, 2013, 09:24:02 PM
 #273

The title of this thread probably won't be proven wrong by the OPs 2 year birthday.  If that ends up being the case, that's a pretty big bummer that a full 2 years after the big crash this market will not have been able to recover to 2/3rds of its all-time price high.  The reality is, unfortunately, bearing out that the rest of the world doesn't exactly think this project is as cool as most people around here do and I think that says something unsettling about bitcoin's future.  Sure, it's something that the market cap has made it to those levels, but that's mostly because of inflation and people just holding their coins and not added economic activity or more investor money.

FWIW, I find myself using bitcoin more and more these days because I might as well use it and use the value I've managed to accumulate while I can.  So, I'm doing my part, but, as has been the case pretty much since the big crash and all the hacks, I'm still not feeling very confident about bitcoin's future.  Still fun though.
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January 25, 2013, 09:31:51 PM
 #274

The title of this thread probably won't be proven wrong by the OPs 2 year birthday.  If that ends up being the case, that's a pretty big bummer that a full 2 years after the big crash this market will not have been able to recover to 2/3rds of its all-time price high.  The reality is, unfortunately, bearing out that the rest of the world doesn't exactly think this project is as cool as most people around here do and I think that says something unsettling about bitcoin's future.  Sure, it's something that the market cap has made it to those levels, but that's mostly because of inflation and people just holding their coins and not added economic activity or more investor money.

FWIW, I find myself using bitcoin more and more these days because I might as well use it and use the value I've managed to accumulate while I can.  So, I'm doing my part, but, as has been the case pretty much since the big crash and all the hacks, I'm still not feeling very confident about bitcoin's future.  Still fun though.
And... the bear is back!  Can't help but to see a dismal outlook despite the many indicators of strong growth.
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January 25, 2013, 09:36:46 PM
 #275

The title of this thread probably won't be proven wrong by the OPs 2 year birthday.  If that ends up being the case, that's a pretty big bummer that a full 2 years after the big crash this market will not have been able to recover to 2/3rds of its all-time price high.  The reality is, unfortunately, bearing out that the rest of the world doesn't exactly think this project is as cool as most people around here do and I think that says something unsettling about bitcoin's future.  Sure, it's something that the market cap has made it to those levels, but that's mostly because of inflation and people just holding their coins and not added economic activity or more investor money.

FWIW, I find myself using bitcoin more and more these days because I might as well use it and use the value I've managed to accumulate while I can.  So, I'm doing my part, but, as has been the case pretty much since the big crash and all the hacks, I'm still not feeling very confident about bitcoin's future.  Still fun though.

Proudhon: Where is your podcast!?
Im feeling too happy right now and need something to calm me down and cry a little. Cant you help me?
evolve
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January 25, 2013, 10:38:17 PM
 #276

Proudhon is one of the most sensible posters on this forum.
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January 25, 2013, 10:40:39 PM
 #277

Keep in mind the time of this original post was right after the huge crash in 2011 where everyone was saying Bitcoin was done for. It echoes the sentiment of the time.

The only people who thought bitcoin was done for, were those only in it for the profit and not informed enough to understand bitcoin's significance.

The price of bitcoins does not matter for bitcoin the protocol.



I remember those "dark months" after the bubble, where nearly everyone on the forum was spouting the most negative crap. I think people who didn't understand this thing lost a lot of money, and wanted to make the community feel bad about it.

Those of us who stuck through it were the ones who took their profit.  From weak hands to strong. This capital is too important to be in the hands of those who don't understand the potential of this system.
Easy +1 .

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January 25, 2013, 10:43:37 PM
 #278

Proudhon continues to be a troll bear till this day Cheesy.

Proudhon what investment do you know of that grows 288% in one year?

EDIT: and it has not been 3 years yet... We are in JANUARY. June would be 3 years....

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January 25, 2013, 10:47:54 PM
 #279

what investment do you know of that grows 288% in one year?

Yeah, that doesnt make BTC sound better...it makes it sound like an overly risky investment in a bubble.

...which actually is a pretty fair assesment of BTC.
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January 25, 2013, 11:27:20 PM
 #280

Proudhon is one of the most sensible posters on this forum.

I appreciate him for his fidelity. He is not just another lemming waiting for an eagle to get him off the ground. Cheesy And I think a lot of people with similar sentiment are out there (not only Bitcoin, but other places where people try to store value).

Keep in mind the time of this original post was right after the huge crash in 2011 where everyone was saying Bitcoin was done for. It echoes the sentiment of the time.

The only people who thought bitcoin was done for, were those only in it for the profit and not informed enough to understand bitcoin's significance.

The price of bitcoins does not matter for bitcoin the protocol.



I remember those "dark months" after the bubble, where nearly everyone on the forum was spouting the most negative crap. I think people who didn't understand this thing lost a lot of money, and wanted to make the community feel bad about it.

Those of us who stuck through it were the ones who took their profit.  From weak hands to strong. This capital is too important to be in the hands of those who don't understand the potential of this system.

So alot of PR work still needs to be done, no wait I mean time will tell. Isn't it just normal that people lose their faith after catastrophic incidents like in June'11? You can't expect people to use or trust Bitcoin if it changes conditions like a student in Hogwarts on crack. The protocol doesn't care about the price, but why was it created for again? I don't consider Bitcoins usage too geeky, but for the most people it definitively still is something magical they don't even bother trying to understand at its core. So many contrasts in this community, I can only honor.
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