R.I.P Bitcoin

[GeniuSxBoY]

nice

[GeniuSxBoY]

Are we dead yet?

[gw4tt]

bitcoin's done, everyone move along.

[Jeremy West spendbitcoins.com]

lol, ya BTC dropped $1.25 today it's crazy insane and very sad.

Here's something I always wonder:

Doomsdayers are always saying it looks like bitcoin might hit new lows. Wasn't the low 0 when it started? How can it go any lower than that?

It was worth 24c US when I bought my first bitcoins last November. Never would have expected it to be at around $6 less than ten months later! 

[coined]

lol, ya BTC dropped $1.25 today it's crazy insane and very sad.

Here's something I always wonder:

Doomsdayers are always saying it looks like bitcoin might hit new lows. Wasn't the low 0 when it started? How can it go any lower than that?

It was worth 24c US when I bought my first bitcoins last November. Never would have expected it to be at around $6 less than ten months later! 

I agree with the last part  , they were 30c when I found out about them and I honestly would never have dreamed they could be over $5 by now, 

parity seemed unreal!

bitcoin has moved so fast.

it's a good reminder though, bitcoin will go on even after the speculators are scared off.

[RandyFolds]

Wasn't the low 0 when it started? How can it go any lower than that?

Are you being serious? 0 was univested. Going to 0 now equates to massive losses for anyone who didn't steal their Bitcoins.

Massive losses?

Dude, in the adult world, tacking a few dollars onto your electrical bill is hardly massive losses.

[The_Duke]

Wasn't the low 0 when it started? How can it go any lower than that?

Are you being serious? 0 was univested. Going to 0 now equates to massive losses for anyone who didn't steal their Bitcoins.

Massive losses?

Dude, in the adult world, tacking a few dollars onto your electrical bill is hardly massive losses.

You realise that in most european countries you are talking 60-100 dollar *a month* for a simple rig with two cards?

[stryker]

60-100 euro for a rig with two cards??? so how many ghash/s do you get from each card on your planet? 

100 euro lol

[bitclown]

60-100 euro for a rig with two cards??? so how many ghash/s do you get from each card on your planet? 

I think he's referring to Europa as in Jupiter's moon.

[Cluster2k]

60-100 euro for a rig with two cards??? so how many ghash/s do you get from each card on your planet? 

100 euro lol

Many users on these forums with cheap power reside in the USA, and pay 10c/kWh or less.  They can't imagine anyone paying any more.

In Australia I'm paying around 24c to 27c, depending on usage and season.  That's 25 to 28 US cents per kWh.  I had a dual 6950 1Gb card system with 1 stick of RAM, 80Plus PSU, AMD 145LE CPU and an SSD.  It chewed through 420w of power (measured, with power factor correction).  That's 10kWh per day, or around US$2.80.  US$84 to run one dual card system putting out about 670Mhash/s (no OC).  Yeah, I stopped mining quite a while ago.

100 Euros is a bit much, but 60 is realistic.

[The_Duke]

~20ct per KwH in a lot of european countries. 750Watt PC for two mining cards, 24/7 running, you do the math.

Just realised I made an error by stating it in euro, I meant dollar. So  40 - 70 euro.

[blatchcorn]

This is why you should ignore bears

[oda.krell]

Holy  necro.

And agreed  on what is probably the sentiment that's behind your decision to resurrect this thread...   that those  who are now  getting to the point of declaring our little experiment a failure are as wrong as they always were...

That said, the 2011 bear market wasn't really the best example for "just buy and hold" either. It seems almost trivially easy, compared to today's situation, to identify the turning point. And if you traded accordingly you had the chance to increase your coins by a factor 10. The market was a lot more "naive" back then, I'd say.

[Tzupy]

This is why you should ignore bears

If you would have been thorough, you would have noticed the context: that day the price dropped from 12$ to 9$, and the next days just below 6$.
During the next 3 months it dropped down to 2$. So his bearish views were confirmed on a medium term. Someone who ignored the bears back then made a big mistake.

[inca]

This is why you should ignore bears

If you would have been thorough, you would have noticed the context: that day the price dropped from 12$ to 9$, and the next days just below 6$.
During the next 3 months it dropped down to 2$. So his bearish views were confirmed on a medium term. Someone who ignored the bears back then made a big mistake.

A big mistake really? If they just held then they probably did better than 99.5% of the 'traders' on this forum, you included?

[Torque]

This thread will be even funnier to necro in about 2 years from now.  

Also, you know what I find interesting?  Many of the accounts that posted on this thread in 2011 are still active, many have logged on to bitcointalk even today.  But they don't post in the Speculation sub any more.  Many of them still log in, but haven't posted anything in a year or two.

So what does that tell you?  It tells me that either they are now rich from holding (unlikely), or have probably pissed away all their coins from back then and are now pretty bitter about it.

[ssmc2]

Two can play at this game,


If you believe they are so valuable, why don't you buy mine at $15 a piece.

Does this offer still stand? 

[Febo]

This thread will be even funnier to necro in about 2 years from now.  

Also, you know what I find interesting?  Many of the accounts that posted on this thread in 2011 are still active, many have logged on to bitcointalk even today.  But they don't post in the Speculation sub any more.  Many of them still log in, but haven't posted anything in a year or two.

So what does that tell you?  It tells me that either they are now rich from holding (unlikely), or have probably pissed away all their coins from back then and are now pretty bitter about it.

I think each of them already made their personal coin. 

[ArticMine]

Two can play at this game,


If you believe they are so valuable, why don't you buy mine at $15 a piece.

Does this offer still stand? 

The more relevant question is does GeniuSxBoY have any BTC left to sell? One of the fears at the time was that pirateat40 would suddenly pay off his BTC debts sending the BTC/USD rate into the cents.

[seleme]

It was much more legit to be bear back then than it's now.