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Author Topic: I have been warning you tards long enough. When will you learn?  (Read 3373 times)
Edward50
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August 06, 2011, 12:02:47 AM
 #1

It isn't even funny anymore watching you guys lose money. Even after all the flamming and troll calling you have done.

For like 2 months I have been warning many of you that the price will fall and that you should sell your bitcoins. Even during the recent run to $8.70, I told you it would rise to maybe $11 or $12, and then fall even lower. I told you to sell during this mini-rally.

My reasons varied why I said bitcoins are not worth $30, or even $20, or even $8 dollars.

However, the main reason is that there are way too many miners dumping thousands of bitcoins on the market every single day. buyers of bitcoins are few and far between, why buy when most people mine them for free anyway. The buyers of bitcoins can not afford to pay all those thousands of miners to mine.

Just think about it logically, all these miners want to make hundreds of dollars a week, however, who the heck is going to turn around and pay them for something that has no actual use. You can't use it for anything, it is for the most part totally worthless, and now it keeps losing value like there was no tomorrow. To make it even worse, bitcoins are very unsafe to hold and store. It is a matter of time before your bitcoins are stolen in my opinion. I am sure many buyers do not feel safe taking thousands of dollars of their cash, and then holding it in bitcoins. Personally if I had any significant amount of bitcoins I would be deathly worried that they will get hacked.

The other problem you guys face is that I really do believe the big market players have pulled out already after trying to hold the market higher, and lost thousands of dollars trying to do so. There are almost no buyers on the market, except a fake build wall at $9.00 right now.

If all the bitcoins that were mined today were sold, it would push the price of bitcions all the way down below $7.00 right now, assuming that $9.00 bidwall is fake.

So stop being stupid and blind. The money miners make comes from the buyers of bitcoins, but the buyers of bitcoins don't have nearly enough money to subsidize the whole bitcoin mining industry. And with the continuous fall of bitcions over the last months, it will get even worse.






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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Oldminer
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August 06, 2011, 12:06:47 AM
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August 06, 2011, 12:09:08 AM
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August 06, 2011, 12:13:52 AM
 #4

i would not eat them in a house, i would not eat them with a mouse.  i do not like green eggs and ham, i do not like them sam i am.

newMeat1
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August 06, 2011, 12:18:00 AM
 #5

What are you talking about? The price doesn't have to stay high to make money. It just has to change

Clipse
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August 06, 2011, 12:26:07 AM
 #6

It isn't even funny anymore watching you guys lose money. Even after all the flamming and troll calling you have done.

For like 2 months I have been warning many of you that the price will fall and that you should sell your bitcoins. Even during the recent run to $8.70, I told you it would rise to maybe $11 or $12, and then fall even lower. I told you to sell during this mini-rally.

My reasons varied why I said bitcoins are not worth $30, or even $20, or even $8 dollars.

However, the main reason is that there are way too many miners dumping thousands of bitcoins on the market every single day. buyers of bitcoins are few and far between, why buy when most people mine them for free anyway. The buyers of bitcoins can not afford to pay all those thousands of miners to mine.

Just think about it logically, all these miners want to make hundreds of dollars a week, however, who the heck is going to turn around and pay them for something that has no actual use. You can't use it for anything, it is for the most part totally worthless, and now it keeps losing value like there was no tomorrow. To make it even worse, bitcoins are very unsafe to hold and store. It is a matter of time before your bitcoins are stolen in my opinion. I am sure many buyers do not feel safe taking thousands of dollars of their cash, and then holding it in bitcoins. Personally if I had any significant amount of bitcoins I would be deathly worried that they will get hacked.

The other problem you guys face is that I really do believe the big market players have pulled out already after trying to hold the market higher, and lost thousands of dollars trying to do so. There are almost no buyers on the market, except a fake build wall at $9.00 right now.

If all the bitcoins that were mined today were sold, it would push the price of bitcions all the way down below $7.00 right now, assuming that $9.00 bidwall is fake.

So stop being stupid and blind. The money miners make comes from the buyers of bitcoins, but the buyers of bitcoins don't have nearly enough money to subsidize the whole bitcoin mining industry. And with the continuous fall of bitcions over the last months, it will get even worse.

Put your money where your mouth(ahum, keyboard) is.

Pay me $30 per BTC (total of ~2500BTC) and I will stop mining immediately.

Show us just how much you care about us(me).

...In the land of the stale, the man with one share is king... >> Clipse

We pay miners at 130% PPS | Signup here : Bonus PPS Pool (Please read OP to understand the current process)
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August 06, 2011, 01:06:38 AM
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foggyb
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August 06, 2011, 03:47:40 AM
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It isn't even funny anymore watching you guys lose money. Even after all the flamming and troll calling you have done.

I bet U wanted to be a miner and missed out, so you're bitter.
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August 06, 2011, 03:50:04 AM
 #9

I WANT TO BUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUY!

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August 06, 2011, 03:55:38 AM
 #10

Sorry, I won't learn my lesson until bitcoin is long dead and buried. Fool, this is not about the money. This is about an amazing technology and the awesome community that is supporting it.

wallet.dat
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August 06, 2011, 03:55:50 AM
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Edward50, you're a moron if you think the only way to make money is by the Bitcoin gaining in value.  I've made over 40% of my stake in Bitcoins the past 3 days alone, and you had absolutely nothing to do with it.

"MOOOOOOOM! THE MEATLOAF!!! F**K!"
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August 06, 2011, 05:27:34 AM
 #12

This guy is 100% plant. He just joined forum on june 09.

This is his 1ST POST:

Please link me if there is another post like this.

I was thinking of building a mining rig and need recommendations on the parts. I want to know the best bang for the buck. I will buy used only if it is easy to buy the components used and quickly. If you can send Newegg links for the recommended parts that would be great also.

Please list if it is better to go with 2 3 or 4 video cards, or 2 separate computers with 2 video cards each.


Its a bullshit post. He's a paid shill. If you read between the lines, you can tell he knows exactly the answers to his questions.

Then his 2nd post his SECOND POST!!!! he starts trashing bitcoin, THE NEXT DAY, after talking about building a mining rig. Every friggin' post, he trashes it up and down. NO EXECPTIONS! He doesn't mention building a mining rig again!!! And pure negative BS from that moment on, before any of the bad bitcoin mishaps started happening (except for the drop from $30).

I agree there will be a correction in the price. I think there are many more new coins coming into the market then speculators or people who need the currency will buy. When the price stagnates for a few days people will try and take some profits.

For the people who own thousands of these coins, they were crazy if they did not sell some of their bitcoins when the price was over $30.

I think the bitcoin has potential, but the prices are just far too high with so many coins out there, and the risk of someone so easily dumping all their coins.

DISINFO AGENT.

And you know if there's one, there's a hundred.

DrYe5
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August 06, 2011, 05:38:32 AM
 #13

The other problem you guys face is that I really do believe the big market players have pulled out already after trying to hold the market higher, and lost thousands of dollars trying to do so. There are almost no buyers on the market, except a fake build wall at $9.00 right now.


The word "troll" gets tossed around allot on these forums. You sir, are the real deal.

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August 06, 2011, 06:03:48 AM
 #14

Aha so you are the one who was going to hack mybitcoin and sell tens of thousands of coin overnight? And you warned us but we didn't listen. You should have been more specific, should have disclosed your plans to delete bitomat's wallet too.

i am satoshi
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August 06, 2011, 07:10:49 AM
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The way I see it is this:  There is not enough real market activity to justify the current price of bitcoins.  I am talking about commerce/trade, not daytrading, derivatives and other nonsense.  Artificial scarcity has been created by hoarders and speculators but is in a downcycle that will continue with selloff.  This volatility will continue in up and down cycles until the value of bitcoins is supported by the demand based on trade of actual goods.  This real value at the moment is low due to the inherent mistrust built into the system.  People are generally too afraid to trade because of the potential fraud.

I'm not predicting the death of bitcoins, only the eventual adjustment down to a reasonable exchange which is prabably around the 1$ level.  But I am just guessing.

2c
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August 06, 2011, 07:55:01 AM
 #16

The way I see it is this:  There is not enough real market activity to justify the current price of bitcoins.  I am talking about commerce/trade, not daytrading, derivatives and other nonsense.  Artificial scarcity has been created by hoarders and speculators but is in a downcycle that will continue with selloff.  This volatility will continue in up and down cycles until the value of bitcoins is supported by the demand based on trade of actual goods.  This real value at the moment is low due to the inherent mistrust built into the system.  People are generally too afraid to trade because of the potential fraud.

I'm not predicting the death of bitcoins, only the eventual adjustment down to a reasonable exchange which is prabably around the 1$ level.  But I am just guessing.

2c

Yea someone gets it.

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August 06, 2011, 07:55:37 AM
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The way I see it is this:  There is not enough real market activity to justify the current price of bitcoins.  I am talking about commerce/trade, not daytrading, derivatives and other nonsense.  Artificial scarcity has been created by hoarders and speculators but is in a downcycle that will continue with selloff.  This volatility will continue in up and down cycles until the value of bitcoins is supported by the demand based on trade of actual goods.  This real value at the moment is low due to the inherent mistrust built into the system.  People are generally too afraid to trade because of the potential fraud.

I'm not predicting the death of bitcoins, only the eventual adjustment down to a reasonable exchange which is prabably around the 1$ level.  But I am just guessing.

2c
You just don't know what you're talking about do you? It takes most miners $8-9 dollars just to MAKE these coins. And we are going to give them up to you for $1?

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skyhigh
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August 06, 2011, 08:45:29 AM
 #18

Average cost is around $3.50 per coin, maybe more $3.00, but we can throw in extra 20% and agree on $3.50. If anyone disagrees please post your exact math for me.

If todays production cost per coin is $3.50, some of the early miners don't really care, because production cost for their early coins was considerably lower. (Example of the 10,000 coin pizza)

FlipPro you are right and wrong in what you saying. First noone ever said mining will always be profitable. Second if the production cost is $3.50, noone ever said miners will have a 300% markup for a product that right now has a very limited use.

You have to understand that prior April to June price boom, from $1 to $30, this whole community had like couple of 100 miners, who all together had 3 Th of power or about 3000 GPU they minted 4 million coins up to that point. When the $30 boom hit people started unloading left and right and this same process is still well under way.
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August 06, 2011, 09:02:31 AM
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The way I see it is this:  There is not enough real market activity to justify the current price of bitcoins.  I am talking about commerce/trade, not daytrading, derivatives and other nonsense.  Artificial scarcity has been created by hoarders and speculators but is in a downcycle that will continue with selloff.  This volatility will continue in up and down cycles until the value of bitcoins is supported by the demand based on trade of actual goods.  This real value at the moment is low due to the inherent mistrust built into the system.  People are generally too afraid to trade because of the potential fraud.

I'm not predicting the death of bitcoins, only the eventual adjustment down to a reasonable exchange which is prabably around the 1$ level.  But I am just guessing.

2c
You just don't know what you're talking about do you? It takes most miners $8-9 dollars just to MAKE these coins. And we are going to give them up to you for $1?

You don't know what you are talking about, I don't pay for electricity for my mining. In the end, in about a years time most miners will have a very low electric cost or none as me. And the ROI shouldn't be just a couple of months (that is crazy returns get it), it should be more. Giving all the information I have given in other treads, this gives a fair value that is much lower than today. Where that is is exactly is very hard to say, but it is fair assumption that we have at least a couple of dollars on the downside left and my first post with my price target of 5-6 dollars looks as a good first step.

Also another thing, the one dollar target someone here said is possible is very very unlikely, it's to much of a interest in the Bitcoin economy. That would set the whole value of Bitcoins at around 7 million dollars today. That is a very low number.
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August 06, 2011, 09:29:00 AM
 #20

Average cost is around $3.50 per coin, maybe more $3.00, but we can throw in extra 20% and agree on $3.50. If anyone disagrees please post your exact math for me.

$7.50 to create one bitcoin worth $9.50 here.  I won't post the maths, as I've posted it here many times before.  People paying 10c/kwh are the only ones capable of producing a bitcoin for $3.50.  Some people can do that, a lot can't.

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