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Author Topic: Doomsday bears have their own interests in mind.  (Read 2467 times)
osmosis
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August 05, 2011, 01:47:08 AM
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They are trying to scare you out of the market..get you to sell at $9 thinking that it will go down to $5.
But after you sell, they will buy it, it will go up..then keep going up.
The worst is behind us.

Anyone who was being responsible knew that you shouldnt have your coins on mybitcoin.com.  I feel sorry for their loss, wish it wasnt so, and wish them the best. But there is no excuse for what they did, it was their own fault, and not a flaw in bitcoin. This situation was a known outcome. As a community we have all learned from it.

The market will continue with your regularly scheduled program.

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August 05, 2011, 03:33:41 AM
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They are trying to scare you out of the market..get you to sell at $9 thinking that it will go down to $5.
But after you sell, they will buy it, it will go up..then keep going up.
The worst is behind us.

People continuously talking up the market are guilty as well.  There was a chorus of miners on this forum who stated prices wouldn't fall below $20 after reaching the bubble peak of $30.  Miners have a vested interest in talking up the market regardless or whether anyone has a real use for bitcoins or not.

Anyone who was being responsible knew that you shouldnt have your coins on mybitcoin.com.  I feel sorry for their loss, wish it wasnt so, and wish them the best. But there is no excuse for what they did, it was their own fault, and not a flaw in bitcoin.

That's pretty harsh.  The same could be said for keeping money or bitcoins on any bitcoin bank or trading site.  MtGox could fold tomorrow and run.  There's nothing to stop that happening.  Bitcoin is unregulated, which is an advantage sometimes, but if a site chooses to cut and run there's precious little you can do. 

This situation was a known outcome. As a community we have all learned from it.

Known by who?  Have they contacted the police to provide information to make an arrest?

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August 05, 2011, 03:47:09 AM
 #3

The markets do as the markets please.  When people stop wanting bitcoin, bitcoin won't be worth anything.

Until then...

Code:
XMR: 44GBHzv6ZyQdJkjqZje6KLZ3xSyN1hBSFAnLP6EAqJtCRVzMzZmeXTC2AHKDS9aEDTRKmo6a6o9r9j86pYfhCWDkKjbtcns
zby
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August 05, 2011, 06:46:50 AM
 #4


They are trying to scare you out of the market..get you to sell at $9 thinking that it will go down to $5.
But after you sell, they will buy it, it will go up..then keep going up.
The worst is behind us.

said pot to kettle
osmosis
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August 05, 2011, 04:02:37 PM
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Well, we are either talking the market up or talking the market down in speculation. Or we keep our lips sealed. But as much as is humanly possible, I am trying to speak from my rational observations and predictions, and not simple wishful thinking for my own interestest.  If I believed it was going down, I would probably be selling right now.

Not trying to be harsh. I wish the victims full compensation. Bruce is the last person to deserve this. He himself also says there was no excuse. Understanding how this technology works, you need to be aware of 3rd party risks. There is a reason why most people in fact do not keep any more funds on exchanges then is necessary.

They are trying to scare you out of the market..get you to sell at $9 thinking that it will go down to $5.
But after you sell, they will buy it, it will go up..then keep going up.
The worst is behind us.

People continuously talking up the market are guilty as well.  There was a chorus of miners on this forum who stated prices wouldn't fall below $20 after reaching the bubble peak of $30.  Miners have a vested interest in talking up the market regardless or whether anyone has a real use for bitcoins or not.

Anyone who was being responsible knew that you shouldnt have your coins on mybitcoin.com.  I feel sorry for their loss, wish it wasnt so, and wish them the best. But there is no excuse for what they did, it was their own fault, and not a flaw in bitcoin.

That's pretty harsh.  The same could be said for keeping money or bitcoins on any bitcoin bank or trading site.  MtGox could fold tomorrow and run.  There's nothing to stop that happening.  Bitcoin is unregulated, which is an advantage sometimes, but if a site chooses to cut and run there's precious little you can do. 

This situation was a known outcome. As a community we have all learned from it.

Known by who?  Have they contacted the police to provide information to make an arrest?

osmosis
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August 05, 2011, 04:06:12 PM
 #6


They are trying to scare you out of the market..get you to sell at $9 thinking that it will go down to $5.
But after you sell, they will buy it, it will go up..then keep going up.
The worst is behind us.

said pot to kettle

Im not trying to persuade anyone to do anything. Im just speaking about what I see already happening. Tell me if there is a better way to do that.
osmosis
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August 05, 2011, 04:07:09 PM
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The markets do as the markets please.  When people stop wanting bitcoin, bitcoin won't be worth anything.

Until then...

On a long enough timeline, the survival rate for everyone drops to zero. 
(from zerohedge.com)
Piper67
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August 05, 2011, 04:10:14 PM
 #8

Yes, we should all do well to remember that:

1) For every BTC sold, one BTC is bought, and

2) Those who truly think bitcoin is a bad idea would not really be wasting their time on these forums.

 Grin
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August 05, 2011, 08:22:16 PM
 #9

I am certainly not buying any bitcoins as it goes down.  I feel like I am actually doing a public service telling people to get out of the market.  The house of cards is burning down and I'm telling you to run for the exit.

When BTC soars, you need to be READY!  PM me to learn more about my new e-book, How to Create and Profit from the Second Bitcoin Bubble available exclusively to BTC forum members!

17JzkreEBYNHQM9tMTiUKCHANofwzHRLhP
osmosis
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August 05, 2011, 08:28:50 PM
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I am certainly not buying any bitcoins as it goes down.  I feel like I am actually doing a public service telling people to get out of the market.  The house of cards is burning down and I'm telling you to run for the exit.

You know I dont really care, cause the sooner we bottom out the sooner we can start a good climb.  So burn burn burn.
BoomGoesTheDynamite
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August 06, 2011, 05:41:08 AM
 #11

I got a feeling we arn't going much further down this week. Might experience a little dipbecause of the weekend, but I'd bet a decent amount of money most of the panic selling is over for now. We'll see what happens monday/tuesday.
Oldminer
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August 06, 2011, 05:46:32 AM
 #12

Must

get

coins

into

exchange

to

sell

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
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Cluster2k
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August 06, 2011, 10:18:51 AM
 #13

They are trying to scare you out of the market..get you to sell at $9 thinking that it will go down to $5.
But after you sell, they will buy it, it will go up..then keep going up.
The worst is behind us.

So, you're saying the following:

Bears are bulls in disguise.  They want to drive the price down so they can buy on the cheap.  Bears are wrong.

Bulls are right as naturally they want the price of bitcoins to go up.


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skyhigh
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August 06, 2011, 10:42:38 AM
 #14

All this bulls and bears stuff is bullshit. Most of doomsayers are either broke or they won't buy coins even if they get super cheap.

Smart investor/speculator that heard/joined bitcoin in its boom days, is probably waiting for the price to get as low as possible. Why would they pay premium if the trend is still lower.

Example of a person who is willing to risk $15k into bitcoins

buys 1k at $5
buys 1k at $4
buys 1k at $3
buys 1k at $2
buys 1k at $1

he / she now holds 5k at an average price $3 and has put $15k at risk. If bitcoins are worth 0.00 in the future he/she lost $15k and walks away. They were smart and knew their risk. This $15k won't hurt them as much as might hurt $500 someone else. If coins are ever worth more in the future, he /she will eventually profit. Simple as that. Everything else all this bears/bulls  you are a troll or whatever else forum name calling is a pointless background noise.
Cluster2k
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August 06, 2011, 11:47:04 AM
 #15

he / she now holds 5k at an average price $3 and has put $15k at risk. If bitcoins are worth 0.00 in the future he/she lost $15k and walks away. They were smart and knew their risk. This $15k won't hurt them as much as might hurt $500 someone else. If coins are ever worth more in the future, he /she will eventually profit. Simple as that. Everything else all this bears/bulls  you are a troll or whatever else forum name calling is a pointless background noise.

Brilliant.  You either pump money into bitcoins or are a troll.  I need to suggest that on other forums where I have a vested interest in the price of my investment rising.

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Edward50
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August 06, 2011, 03:24:11 PM
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Do you seriously think that the few bears that actually continue to post negative (truth) about bitcoins actually have any influence what so ever?

I am one of those bears, just take a look at my posts, constant flames from everybody about what I think about bitcoins and their price. Every negative post about bitcoins is followed by almost total flaming and hate, then the posts about how I am wrong and bitcoins are going to be worth a small country.

Who was right in the end? Who had the guts to go out and tell everyone that bitcoins are not worth their current value and much less. Did anyone actually listen to me or any of the other bears? I seriously doubt it. However, I am sure there were a few people who listened.

When I was looking into mining during the jump to $30, when it was profitable, I did my research and read the few negative posts out there and determined the truth myself. That is the only good thing about alternative (bear) posts, is that it may help the few people who can think for themselves and not what the rest of the sheep are thinking, and determine where bitcoins are going.



Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
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August 06, 2011, 03:40:14 PM
 #17

so we took a dive, what is the problem? it's not an end of the world or bitcoin.. even if BTC goes to $1 or below it will still be functional and useful to people.
grod
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August 06, 2011, 03:44:53 PM
 #18

All this bulls and bears stuff is bullshit. Most of doomsayers are either broke or they won't buy coins even if they get super cheap.

Smart investor/speculator that heard/joined bitcoin in its boom days, is probably waiting for the price to get as low as possible. Why would they pay premium if the trend is still lower.

Example of a person who is willing to risk $15k into bitcoins

buys 1k at $5
buys 1k at $4
buys 1k at $3
buys 1k at $2
buys 1k at $1

he / she now holds 5k at an average price $3 and has put $15k at risk. If bitcoins are worth 0.00 in the future he/she lost $15k and walks away. They were smart and knew their risk. This $15k won't hurt them as much as might hurt $500 someone else. If coins are ever worth more in the future, he /she will eventually profit. Simple as that. Everything else all this bears/bulls  you are a troll or whatever else forum name calling is a pointless background noise.

What about the other side of the bull possibilities?

Bought 1k at $30 expecting $100 in August
Bought 1k at $24 expecting $40 in September
Bought 1k at $20 expecting $30 soon
Bought 1k at $17.5 'dollar averaging' down
Bought 1k at $15 because the price was stable
Bought 1k at $14 because this has to be the bottom
Bought 1k at $12 because it's a buying opportunity relative to $14
Bought 1k at $13.90 because the train is finally leaving the station
Bought 1k at $11 becase it's a better buying opportunity
Bought 1k at $9 because it can't go any lower, it's just mean bears talking BTC down wanting my bitcoins cheap
Bought 1k at $7.70 because I've already got a bunch at stake
.
.
.
Now I have a buttload of bitcoins at an average price well north of $10, and them trading at $1.  That's much worse than your scenario where the trader has 5k coins at 300% current market price.  At which point all the other bulls also out of money, looking for 1000%+ to break even and miners still producing around 7200 coins a day whether the difficulty is 10 million or 10 thousand.

Now granted, this is a pretty doom and gloom scenario, but IMO at least as likely as the pie in the sky bull one based on nothing but hope and prayer.



foggyb
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August 06, 2011, 03:58:26 PM
 #19


Who was right in the end? Who had the guts to go out and tell everyone that bitcoins are not worth their current value and much less.


This is the end? So, you're bullish at 8$.

When I was looking into mining during the jump to $30, when it was profitable


You were never going to mine, neither did you research it. You have one post in your history about mining.
skyhigh
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August 06, 2011, 03:59:41 PM
 #20

grod, I kind of posted an answer to this here https://bitcointalk.org/index.php?topic=27348.msg434229#msg434229  It's a bit offtopic, but if you would read the other thread you might get the idea.

But in general yes, you are right. There is always risk involved. The way I do it, it's a controlled, well planned risk.
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