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Author Topic: Largest weekend discount so far :)  (Read 3123 times)
Crazy
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August 07, 2011, 08:31:47 PM
 #41

Edit: @grod

I saw your point entirely, and your assumption that I believe Bitcoin will become mainstream is misguided, and thus very wrong. If Bitcoin were condemned to be a perpetually underground e-currency, I'd be entirely content with that outcome.

To clarify, my implication was that Shinobi has female tendencies, i.e. letting emotion rule her day-to-day responses to stimuli, hence her charged and insulting responses to my otherwise tame quip about people getting infected by Bitcoin malware. Really? Of all things, BTC malware? And for that you direct anger at me? I'm well aware that intelligence has no gender exclusivity, and so I'm also well aware females are perfectly capable of securing their own home networks.

But I digress...

I don't believe Bitcoins will become mainstream within the foreseeable future, maybe ever. As long as its utility remains intact for my needs, and the needs of everyone else, whether that be for illicit purposes or other, there is no sense in arguing over the semantics of mainstream viability at such a premature stage. The argument thus far is that Bitcoin is "dead" or a "flawed currency" because it lacks market stability and a bunch of front-end useability for the laymen. My argument is it's perfectly alive as long as (a) the underpinnings of the protocol aren't compromised and (b) me and a select few of my peers agree that it holds value and can be exchanged for USD. I can avoid being severely impacted by volatility by making transactions and exchanges an immediate priority. For me, I'll do anonymous transactions all day and not think twice about whether BTC goes mainstream, because frankly I don't give a shit about that. Would it be nice? Yeah. Am I going to fret over it? No. BTC already addresses my needs. I'll let others worry about the viability and duties of building the infrastructure to address their needs.
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grod
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August 07, 2011, 08:40:56 PM
 #42

How about that, we're on the same wavelength.  I'm interested in BTC because of the utility it offers me.

But I'm also interested in its exchange rate vs. the $ because I've been getting a massive amount of entertainment out of the technerd casino.  Plus some pocket change.

I've been hearing so much about why bitcoin should be valued at the market cap it has because of its potential to go mainstream and increase in value by several orders of magnitude that I assume *everyone* has that mindset.  My bad.

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August 07, 2011, 08:47:59 PM
 #43

Put in a sell order for all my bitcoins at 8.49 and a buy order to get them all back at 6.01 before I went to bed last night.  Was happy to see they both filled while I was sleeping.   Grin

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piramida
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August 07, 2011, 08:59:34 PM
 #44

OP I hope you will wire as much as you can and bank on this $15 target. We need as many as we can get to put money where their mouth is. Every bull should be buying or adding at this discounted prices. If it was me, I would add more than I'm willing to lose, because $15 from $8 is worth the risk. Your math skills must be wicked !


Oh you bet I will Smiley Right now making some sweet profit (+70% during the last week alone) on this bottom-seeking swings, and am wiring as much as I already spent first thing tomorrow. And if BTC goes near $1, I'm going all in Smiley However, unfortunately, breaching $5 does not seem likely right now. We'll see.

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August 07, 2011, 09:00:34 PM
 #45

Bunch of Gordon Gekkos on this forum. I have seen numerous perfect trades since I joined. Everyone saying they making money left and right. One starts to wonder who is on the other side of the trade, since this is a zero sum game - fees. It would make my day that someone claims they filled 10k block at $6.00.
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August 07, 2011, 09:25:17 PM
 #46

Bunch of Gordon Gekkos on this forum. I have seen numerous perfect trades since I joined. Everyone saying they making money left and right. One starts to wonder who is on the other side of the trade, since this is a zero sum game - fees. It would make my day that someone claims they filled 10k block at $6.00.


skyhigh, even a monkey could have gotten +50% during the last week, with price jumping 7-9 and back like four times. I just did two swings. Who loses money? I suppose there are opposites, people who sell at 7 thinking we're going all the way down and then buy back at 9 thinking the rally started. But I don't hear them speak up here often, and frankly I don't want to hear from them, trying to filter out the overall panic and insanity of these forums and tune in to a few sane voices Smiley

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August 07, 2011, 10:41:28 PM
 #47

One starts to wonder who is on the other side of the trade, since this is a zero sum game - fees.
Which is why it's a pyramid scheme.
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August 07, 2011, 10:58:00 PM
 #48

Bill, have you looked at the BTC price history graph at all? Since the beginning of 2010. I urge you do so Smiley Right now is the 3rd "all is lost" region so far.

But the current downtrend is the most severe.  And beyond a two month duration (will be reached during the coming week), it will also be the longest.

Not to say that this downtrend can't reverse.  It has a corollary: what goes down can go back up. 

Once the bears are all squeezed out, price will snap back up.  The market will be consolidated into fewer hands each owning more BTC.  These wealthy individuals can remove ask walls, and they also have the USD to push the market higher with successive bid walls.  The bulls rush in after the reversal becomes apparent.

Or atleast that's what I'm betting.


I haven't done spectacular on these swings, about breaking even in USD terms.  But I am happy with the increase in my BTC holdings.

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piramida
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August 09, 2011, 12:28:53 PM
 #49

so this has been a tremendous weekend, congratulations to everybody else who had the balls not to panic and instead increased their BTC holdings Smiley now we fly.

i am satoshi
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