We'll be back to $13-14 by end of week. Know how I know?

[OgNasty]

P.S. If you have a 401k or something like that, you are not an investor, you are a follower.

Foolish comment of the day.  What investor doesn't have a 401k?  One without a job would be my only guess...  The investors I know all have 401k or 403b, IRA, Roth IRA, brokerage & money market accounts...

[1715183279]

1715183279

[1715183279]

1715183279

[1715183279]

1715183279

[EconomicOracle]

skyhigh, the reason I'm saying the issue is minor is that while there has been 50%+ inflation, we've had a 1000%+ inflation of new Bitcoin adopters. There is no reason to be so skeptical as to assume we won't have growth during the next 6 months for example. With the adoption growth we've had, the price is rightfully much higher than it was in the past. How high it's "supposed to be" no one knows, it's obvious it isn't $1 or $30 but something in between.

The price should be around $13-$14 right now to sustain the level of growth we've had so far but clearly we're in a slump with low adoption rates and a ton of bad news. So, basically the main factor to take into account regarding inflation is the adoption rate and the other factor is how much miners believe in Bitcoin or how much they can afford to save.

In the current situation I'd say the price is not going to go below $9, perhaps not even below $10. More bad news is required for another slump like that. The demand for cheap coins at the $9-$11 range is quite decent and many think that price is lowish for selling.

Where it will go from here depends on many things, as I already said in my last post. It might stay here for a while but I don't think so. With all the bad news people will show strong support for good news if they come and if good news come, there will at least be a small rally. With lots of good news we will see a very strong rally. But that's all speculation, we might see quiet stagnation and more occasional bad news and the price will not go up, might even go down.

It's also true that for the functionality of Bitcoin it doesn't matter what the price is, but I personally care about Bitcoin in many different ways, as a miner, as an investor, as a supporter and in the future probably as a merchant as well. For some of my interests the price does matter.

"L^{ooks like Bitcoin is blasting off again!" - MtGoX}

[RodeoX]

P.S. If you have a 401k or something like that, you are not an investor, you are a follower.

Foolish comment of the day.  What investor doesn't have a 401k?  One without a job would be my only guess...  The investors I know all have 401k or 403b, IRA, Roth IRA, brokerage & money market accounts...

Most people have no idea what they are investing in with their 401k. A guy in suit at work handed them a form and they picked a few menu items.  I'm not saying that a 401k has no merit as an investment vehicle, but if you don't know what specific companies your managers are investing your money in then don't fool yourself into thinking your Gordon Gecko.

[ampirebus]

P.S. If you have a 401k or something like that, you are not an investor, you are a follower.

Foolish comment of the day.  What investor doesn't have a 401k?  One without a job would be my only guess...  The investors I know all have 401k or 403b, IRA, Roth IRA, brokerage & money market accounts...

Most people have no idea what they are investing in with their 401k. A guy in suit at work handed them a form and they picked a few menu items.  I'm not saying that a 401k has no merit as an investment vehicle, but if you don't know what specific companies your managers are investing your money in then don't fool yourself into thinking your Gordon Gecko.

compared to a pension, a 401k/roth ira is a scam. under ronald reagan nearly every worker had a pension. reagan and the wall street guys changed that. now less than 15% of workers have a pension and are stuck with someone else managing their entire livelihood... bring back the pension. but that will only happen with increased union membership and as long as republicans and center/right democrats are in office there wont be more pensions or unions there will be less stomped out 1 by 1. my grandparents wouldnt be alive without their pensions or would probably be eating dog food.


no sane person would  pick a 401k over a pension without being completely ignorant. You can have money for the rest of your life at a set ammount that only you manage, or you cvan have money locked away that you cant ever control...

[SgtSpike]

P.S. If you have a 401k or something like that, you are not an investor, you are a follower.

Foolish comment of the day.  What investor doesn't have a 401k?  One without a job would be my only guess...  The investors I know all have 401k or 403b, IRA, Roth IRA, brokerage & money market accounts...

Most people have no idea what they are investing in with their 401k. A guy in suit at work handed them a form and they picked a few menu items.  I'm not saying that a 401k has no merit as an investment vehicle, but if you don't know what specific companies your managers are investing your money in then don't fool yourself into thinking your Gordon Gecko.

compared to a pension, a 401k/roth ira is a scam. under ronald reagan nearly every worker had a pension. reagan and the wall street guys changed that. now less than 15% of workers have a pension and are stuck with someone else managing their entire livelihood... bring back the pension. but that will only happen with increased union membership and as long as republicans and center/right democrats are in office there wont be more pensions or unions there will be less stomped out 1 by 1. my grandparents wouldnt be alive without their pensions or would probably be eating dog food.


no sane person would  pick a 401k over a pension without being completely ignorant. You can have money for the rest of your life at a set ammount that only you manage, or you cvan have money locked away that you cant ever control...

Ugh, pensions and unions.  Blegh, ugh, blegh.  Talk about an economy killer.

Anyway, let me get this straight.  Relying on a 401k that you can spread across MANY different mutual funds, depending on their performance, thus encouraging the people who are managing your money to make sure it performs well, is worse than putting all your eggs in one basket via a pension?  What happens if the company who is handing out the pension goes under?  Then you have NOTHING.

Sorry for being "completely ignorant", but I would 10 times rather have a 401k than rely on ANY company to still be around to give me a pension 40 years from now.

[grod]

no sane person would  pick a 401k over a pension without being completely ignorant. You can have money for the rest of your life at a set ammount that only you manage, or you cvan have money locked away that you cant ever control...

As I understand it a pension requires working at the same company for a very, very long time.  That negates the ability to shop around if you're valuable and leaves you vulnerable to layoffs if you are not.  In my industry staying at one job for over 2 years results in an ever increasing earnings hit, and being independent can more than double earnings.

Pension plans are managed by the exact same people managing 401ks.  They're typically invested in the same stocks, bonds, etc as other mutual funds focusing on low risk and asset preservation over growth.

And finally, most of my 401ks have been rolled over into IRAs at an institution where I can trade the funds myself.

[skyhigh]

skyhigh, the reason I'm saying the issue is minor is that while there has been 50%+ inflation, we've had a 1000%+ inflation of new Bitcoin adopters. There is no reason to be so skeptical as to assume we won't have growth during the next 6 months for example. With the adoption growth we've had, the price is rightfully much higher than it was in the past. How high it's "supposed to be" no one knows, it's obvious it isn't $1 or $30 but something in between.

The price should be around $13-$14 right now to sustain the level of growth we've had so far but clearly we're in a slump with low adoption rates and a ton of bad news. So, basically the main factor to take into account regarding inflation is the adoption rate and the other factor is how much miners believe in Bitcoin or how much they can afford to save.

In the current situation I'd say the price is not going to go below $9, perhaps not even below $10. More bad news is required for another slump like that. The demand for cheap coins at the $9-$11 range is quite decent and many think that price is lowish for selling.

Where it will go from here depends on many things, as I already said in my last post. It might stay here for a while but I don't think so. With all the bad news people will show strong support for good news if they come and if good news come, there will at least be a small rally. With lots of good news we will see a very strong rally. But that's all speculation, we might see quiet stagnation and more occasional bad news and the price will not go up, might even go down.

It's also true that for the functionality of Bitcoin it doesn't matter what the price is, but I personally care about Bitcoin in many different ways, as a miner, as an investor, as a supporter and in the future probably as a merchant as well. For some of my interests the price does matter.

I don't know what I should tell you. So I will just say, yes you are right and I am wrong.  I guess you know better then me, price should be around $13-14. Ignorance is a bliss.

[ProfessionalGoogler]

I'm from the FUTURE.....

[molecular]

I'm from the FUTURE.....

welcome. Feel right at home in the past.

What action do you suggest to us having remained here, waiting for you?

[manselr]

This is absolutely insane. Pumping threads like this is good from time to time, it shows historical evidence of weak hands selling too soon.

Anyone knows if OP bought back eventually? I would be devastated to look at back at this thread if at least i didn't manage to buy back again to be honest.

[Ted E. Bare]

You did great OP

[MiladMax]

Fuck me! Why did you bump this thread??!! 

[proudhon]

This was appropriately bumped. We'll be back there soon. All the data is pointing to an epic crash to round out the long term downtrend we've been in.

[slap]

This was appropriately bumped. We'll be back there soon. All the data is pointing to an epic crash to round out the long term downtrend we've been in.

Wow, you're like the anti-hodler lol
Any tech/charting to back your statement?
Or... just cynical, idk cant tell.. :/

[JimboToronto]

This was appropriately bumped. We'll be back there soon. All the data is pointing to an epic crash to round out the long term downtrend we've been in.

Wow, you're like the anti-hodler lol
Any tech/charting to back your statement?
Or... just cynical, idk cant tell.. :/

Proudhon? Just a comedian.

[slap]

This was appropriately bumped. We'll be back there soon. All the data is pointing to an epic crash to round out the long term downtrend we've been in.

Wow, you're like the anti-hodler lol
Any tech/charting to back your statement?
Or... just cynical, idk cant tell.. :/

Proudhon? Just a comedian.

Thanks for clearing that up. And yes, he's doing a great job, comedy gold.

[Wolf Rainer]

Poor the guys of this thread, a lot of suicides. Is not like the pizza bitcoins guy but they dont have nothing to envy.

[bit1]

skyhigh, the reason I'm saying the issue is minor is that while there has been 50%+ inflation, we've had a 1000%+ inflation of new Bitcoin adopters. There is no reason to be so skeptical as to assume we won't have growth during the next 6 months for example. With the adoption growth we've had, the price is rightfully much higher than it was in the past. How high it's "supposed to be" no one knows, it's obvious it isn't $1 or $30 but something in between.

The price should be around $13-$14 right now to sustain the level of growth we've had so far but clearly we're in a slump with low adoption rates and a ton of bad news. So, basically the main factor to take into account regarding inflation is the adoption rate and the other factor is how much miners believe in Bitcoin or how much they can afford to save.

In the current situation I'd say the price is not going to go below $9, perhaps not even below $10. More bad news is required for another slump like that. The demand for cheap coins at the $9-$11 range is quite decent and many think that price is lowish for selling.

Where it will go from here depends on many things, as I already said in my last post. It might stay here for a while but I don't think so. With all the bad news people will show strong support for good news if they come and if good news come, there will at least be a small rally. With lots of good news we will see a very strong rally. But that's all speculation, we might see quiet stagnation and more occasional bad news and the price will not go up, might even go down.

It's also true that for the functionality of Bitcoin it doesn't matter what the price is, but I personally care about Bitcoin in many different ways, as a miner, as an investor, as a supporter and in the future probably as a merchant as well. For some of my interests the price does matter.

I don't know what I should tell you. So I will just say, yes you are right and I am wrong.  I guess you know better then me, price should be around $13-14. Ignorance is a bliss.

I'm from the FUTURE.....

Well it is clear that the present when referring to it at that precise moment can be considered the future as in this case when you speak of a fact that belongs to the past, certainly few people knew about of that, as its use has become a little more generalized the price has grown in the same proportion, Besides what has to be a fact is who sold at that price, He/She must have come back later, maybe that's indicating something or maybe not, the thing is that sometimes the story seems to repeat itself , it's now funny see the boy lamenting for not having bought to $8 when it was on $9-11 range or the other guy advising to him   about why not keep some USD on mtgox balance, just in case?,  that shows why everyone should make their own decisions.            

[pennywise]

This was appropriately bumped. We'll be back there soon. All the data is pointing to an epic crash to round out the long term downtrend we've been in.

Wow, you're like the anti-hodler lol
Any tech/charting to back your statement?
Or... just cynical, idk cant tell.. :/

Proudhon? Just a comedian.

No, no no. You're reading it wrong.

Proudhon is our greatest contra-indicator! When he sais it's gonna sink, it's actually blast-off time.

To the moon!!

[molecular]

This was appropriately bumped. We'll be back there soon. All the data is pointing to an epic crash to round out the long term downtrend we've been in.

Lol, proudhon, you're back! Congratulations on taking me back to the old days

Still overly insanely bearish, I see.

You've been missed.