Just let it crash Damn it!

[pureskull]

Im a new user who wants to invest on bitcoins and i feel the price for 1 bitcoin is absurd. Im certain is just this way because of some greedy chinese who took most bitcoin out of circulation and are waiting to cash out when they feel like. Right now it looks like a bull trap and deserves to crash to teach those chinese a lesson who will panic sell. Otherwise Bitcoin will fail simply because none in a mainstream society wants to deal with a currency based on decimals. example
how much is a tv?
0.1 btc wow that sounds stupid. Its already hard enough for a mainstream user to trust an exchange with their money to buy bitcoins. Now its even more hard to get 1 because of the price.
I am a mainstream user who heard about bitcoin in the news and although this post doesnt sound smart. This is how most mainstream users will think like and without our support it will unlikely get acceptance in our society.

[torusJKL]

Im a new user who wants to invest on bitcoins and i feel the price for 1 bitcoin is absurd. Im certain is just this way because of some greedy chinese who took most bitcoin out of circulation and are waiting to cash out when they feel like. Right now it looks like a bull trap and deserves to crash to teach those chinese a lesson who will panic sell. Otherwise Bitcoin will fail simply because none in a mainstream society wants to deal with a currency based on decimals. example
how much is a tv?
0.1 btc wow that sounds stupid. Its already hard enough for a mainstream user to trust an exchange with their money to buy bitcoins. Now its even more hard to get 1 because of the price.
I am a mainstream user who heard about bitcoin in the news and although this post doesnt sound smart. This is how most mainstream users will think like and without our support it will unlikely get acceptance in our society.

Do you usually buy 1kg of gold?
No I presume. You will buy more like 0.02kg, meaning 20 grams.
And still you are perfectly ok with this.

The same will happen with bitcoin.
Soon we will have to use mBTC as the unit.

[sweetNlow]

Im a new user who wants to invest on bitcoins and i feel the price for 1 bitcoin is absurd. Im certain is just this way because of some greedy chinese who took most bitcoin out of circulation and are waiting to cash out when they feel like. Right now it looks like a bull trap and deserves to crash to teach those chinese a lesson who will panic sell. Otherwise Bitcoin will fail simply because none in a mainstream society wants to deal with a currency based on decimals. example
how much is a tv?
0.1 btc wow that sounds stupid. Its already hard enough for a mainstream user to trust an exchange with their money to buy bitcoins. Now its even more hard to get 1 because of the price.
I am a mainstream user who heard about bitcoin in the news and although this post doesnt sound smart. This is how most mainstream users will think like and without our support it will unlikely get acceptance in our society.

Do you usually buy 1kg of gold?
No I presume. You will buy more like 0.02kg, meaning 20 grams.
And still you are perfectly ok with this.

The same will happen with bitcoin.
Soon we will have to use mBTC as the unit.

Very well said! I believe this is the whole reason of bitcoin going down 8 decimal places. As price goes up I think we will start trading in mBTC but who knows 

[BadBear]

Otherwise Bitcoin will fail simply because none in a mainstream society wants to deal with a currency based on decimals.

So what do you do in the store when something isn't exactly a dollar or two dollars? Give up and say it's too hard/complicated?

[pureskull]

wow stupid gold comparison. gold is on a whole different level. its like comparing a scion to a lamborghini. at least with gold i have the physical value to back it up and gold also is hit and miss when it comes mainstream acceptance. Also i never said the decimals make it hard i said its harder to get 1 whole bitcoin. Go and try to convince your friends to buy 0.1 btc as an investment and see how they laugh at your face. Now redo this.when the price hits 200 and tell them to invest in 1and youll see a different response. thats my point

[pureskull]

Bump
Today i seen a nice dip keep selling and we might hop back in when its at 200 or 300. Otherwise consider this currency dead and dont listen to those dumb fanatics who think this coin is worth 10k or will be worth 1 million. Question how can it be worth so much if some bitcoin miners mine 5btc per day. Im sure those guys will patiently wait till it gets till 10k value NOT. damn deillusional nerds nowadays. Btw ill be glad to eat my words if it at least gets to 3k after 5 months

[Argwai96]

it might be worth 1 million someday, but first, $300-400. 

[stormlighter]

Im kinda hoping it will drop to somewhere between $100-200 so it would lure more ppl in and they would start to use it for its real purpose. Alternative payments. Not a speculative currency

[pureskull]

Agreed Bitcoin should go up when its use also goes up. Not because some greedy chink decided to spend his life savings into it.

[Sindelar1938]

My sense all along was we would correct again

Though we are off the lows again, can't help feeling we might see 500 again...

[Argwai96]

Im kinda hoping it will drop to somewhere between $100-200 so it would lure more ppl in and they would start to use it for its real purpose. Alternative payments. Not a speculative currency

speculation is bitcoin's main purpose, deal with it.

[Gimmelfarb]

i'd be happy to see a nice crash. keep selling LOL, i want me some cheap coins!

[mybogusname]

I agree. let the price crash, then we can gather a ton, and the price will go thru the roof again... making us richer!! LOL

[Habeler876]

i hope it doesnt go so low that people start thinking bitcoin really IS a bubble..... better stay above 266!

[xkeyscore89]

At this rate, anything is possible.   

[Anon136]

wow stupid gold comparison. gold is on a whole different level. its like comparing a scion to a lamborghini. at least with gold i have the physical value to back it up

i hate it when people do this. its becoming my new pet peeve. this is COMPLETELY irrelevant to his argument. he was talking about how people have no problem buying 0.1troyounce coins of gold. whether bitcoin is better than gold or vice verca has NOTHING to do with his argument about how fractional denomination doenst prevent people from investing in gold.

as an aside does anyone know if there is a label for this specific form of logical fallacy or rhetorical trick or w/e it is?

[Sniperdude]

i hope it doesnt go so low that people start thinking bitcoin really IS a bubble..... better stay above 266!

im guessing you bought in at 266 lol

[Trizin]

wow stupid gold comparison. gold is on a whole different level. its like comparing a scion to a lamborghini. at least with gold i have the physical value to back it up

i hate it when people do this. its becoming my new pet peeve. this is COMPLETELY irrelevant to his argument. he was talking about how people have no problem buying 0.1troyounce coins of gold. whether bitcoin is better than gold or vice verca has NOTHING to do with his argument about how fractional denomination doenst prevent people from investing in gold.

as an aside does anyone know if there is a label for this specific form of logical fallacy or rhetorical trick or w/e it is?

Behold the magnificence of this handy cut-out-and-keep-on-your-wall chart!

https://yourlogicalfallacyis.com/poster

(http://utminers.utep.edu/omwilliamson/ENGL1311/fallacies.htm is also good)

[malaimult]

@ 200 300 will be perfect. remember when the price explode all major exchange websites and companies that use btc gone greedy and cheat or scam people.

[xkeyscore89]

I can't cashout the BTC I have fast enough to guarantee that I'd be able to re-buy at a lower price.  And yet, I don't have enough cash on hand to set a buy order. FML, I'm going to have to ride this out and hope for the best.

Anyone know if Gox is still repeating its sell order?