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Author Topic: So who sold below $100 during the SR "crash"?  (Read 4346 times)
BitcoinAshley
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October 19, 2013, 02:00:02 AM
 #61


Certainly none of us Keynesians sold.  The severe decrease in velocity was bound to explode the price. (*)

* Actually, this is more or less a complete troll.  I only thought of it yesterday, and don't even know if the relationship between currency value and velocity is Keynesian, universal, or even valid or what.  Sounds good though.


A keynesian even owning bitcoins in the first place is paradoxical.

Still, I occasionally see someone arguing for or excusing keynesian policies on bitcointalk forums of all places. What are people smoking these days?
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zachcope
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October 19, 2013, 10:41:29 AM
 #62

Smugly bought more cheap coins yum yum

geofflosophy
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October 19, 2013, 12:52:03 PM
 #63

Smugly bought more cheap coins yum yum

I didn't really have the fiat lying around to pick up cheap coins, which I obviously regretted. I missed the $85 price that I wanted, but would have bought at $105 if I had the fiat in a bank account. Relating back to the current price run up, I've sold some coins at $150 and $166 looking to buy back after a price correction over the next week. We'll see.
geofflosophy
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October 19, 2013, 01:27:18 PM
 #64

Smugly bought more cheap coins yum yum

I didn't really have the fiat lying around to pick up cheap coins, which I obviously regretted. I missed the $85 price that I wanted, but would have bought at $105 if I had the fiat in a bank account. Relating back to the current price run up, I've sold some coins at $150 and $166 looking to buy back after a price correction over the next week. We'll see.

We have touched almost $200 today at Gox and you expect next week to buy below $150? Don't saying it couldn't happend but is quite risky, trend is your friend and we are going UP!

Edit: Anyway taking profits is always good  Wink

I don't care about Gox, what was the Bitstamp high?
geofflosophy
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October 19, 2013, 01:47:08 PM
 #65

Bitstamp's high was 172.00 but Gox is leading the market still, and if Gox surpasses $200 we could see ATH soon, and bitstamp will follow.

Anyway, you could be right but time will tell  Smiley

To me Gox is just its own entity of paper trading. The lack of USD liquidity for Gox customers has not been resolved, and so it's just a sinkhole of value IMO.
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October 19, 2013, 01:57:30 PM
 #66

Bitstamp's high was 172.00 but Gox is leading the market still, and if Gox surpasses $200 we could see ATH soon, and bitstamp will follow.

Anyway, you could be right but time will tell  Smiley

To me Gox is just its own entity of paper trading. The lack of USD liquidity for Gox customers has not been resolved, and so it's just a sinkhole of value IMO.

The volume indicates there are either fools with lots of money still trading, or a few big fish who have made private arrangements with gox for withdrawals.  I'd bet on the latter.

https://www.bitcoin.org/bitcoin.pdf
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hulk
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October 19, 2013, 01:59:33 PM
 #67

Those that sell below $100 would rage quit and never to enter any bitcoin forum again.

bitwhizz
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October 19, 2013, 03:32:23 PM
 #68

My panic sell wasn't in the SR "crash" but in the April crash. Man I've learned the lesson Tongue.

Yep, same
tvbcof
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October 19, 2013, 06:14:39 PM
 #69


A keynesian even owning bitcoins in the first place is paradoxical.

Still, I occasionally see someone arguing for or excusing keynesian policies on bitcointalk forums of all places. What are people smoking these days?

I dunno.  I'm as much a Keynesian as anything else I recon, and I own a fair amount of BTC.

I've always felt that something like PM's and Bitcoin are 'barbourous' in terms of their utility in a functional society of any magnitude.  Frankly speaking, most people are losers who kinda need a 'distribution of wealth' in order to avoid abject poverty.  In a system which operated on a foundation of something solid (and I consider PM's and Bitcoin to be interchangeable in this respect) society would very quickly devolve into a systems of fiefdoms with 'strongmen' controlling as much turf as their cunning allowed.

I don't wish to live in a society as described above which is why I favor more modern forms of monetary systems.  OTOH, our current system in the West is on the brink of a breakdown, and in the US at least, it is failing to achieve the kind of wealth distribution needed to sustain the kind of society I'd prefer to live in.  Thus, I look out for my own ass first.  And thus I dabble in Bitcoin other value stores which have limited counter-party risk.


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