The inevitable collapse of hubris

[Vagnavs]

Soon, all the vested interests who were screaming at people to buy in at $1000, telling people to sell their houses, cars, shirt off their back to buy buy buy will be shouting 'SUCKERS!'.


I hope there are plenty of people who lose absolutely everything to this scam. And I hope their utter financial ruin will serve as a warning.

regardless of people's decision. Whether it is greed or not. I wouldn't be happy for someone in financial ruin (if that happens).

You probably hate yourself, so your happy when other people are in despair..

The type of person who if you didn't like the neighbor and his house burnt down. You would be happy.

[CoinGeneral]

Anyone who bought at 1200 is not very wise.  You never buy anything at the peak of a bubble. It's no surprise to lose money if so, that's a really dumb idea.

I forgot people had the ability TO KNOW WHAT THE PEAK PRICE IS

/sarcasm

[ElectricMucus]

Soon, all the vested interests who were screaming at people to buy in at $1000, telling people to sell their houses, cars, shirt off their back to buy buy buy will be shouting 'SUCKERS!'.


I hope there are plenty of people who lose absolutely everything to this scam. And I hope their utter financial ruin will serve as a warning.

regardless of people's decision. Whether it is greed or not. I wouldn't be happy for someone in financial ruin (if that happens).

You probably hate yourself, so your happy when other people are in despair..

The type of person who if you didn't like the neighbor and his house burnt down. You would be happy.

You forget those are the people calling for the collapse of modern civilization while they think to be Lord Humongous in the resulting dystopia.

A good deal of Schadenfreude is well deserved.

[Qoheleth]

By the time it does it will be by far the biggest (and possibly final) Bitcoin bubble.

The final bubble? That'd be nice. Wishful thinking, though; as much as I'd prefer a relatively stable valuation, people will surely overreact to new technology/infrastructure coming online.

You forget those are the people calling for the collapse of modern civilization while they think to be Lord Humongous in the resulting dystopia.

A good deal of Schadenfreude is well deserved.

Do you really think that everyone who got excited about Bitcoin late and made a big bet on it was some kind of face-stomping villain? That's an awfully cold assessment, in a world where nearly every cause - even noble ones - could stand to benefit from some extra cash in the bank.

[Logik]

People like the OP don't realise that the exchange rate is not bitcoin itself, but only one small part of it. It's currency speculation. That's it. It doesn't matter at all to bitcoin itself. In fact, every bubble brings more and more media attention and participation in the larger bitcoin world.

I think the problem is that the USD/BTC exchange rate is the only thing ever reported on by the media, and so people get an extremely skewed view of what exactly Bitcoin is about. Bitcoin isn't an investment fund or a company, and it really doesn't matter if the exchange rate is $1 or $1000.

An analogy is if I told you that I speculated on oil futures and lost heaps of money, then ran around telling people that oil was just useless and stupid and everybody is going to stop using it in their manufacturing processes because of all the bad publicity.

[spiderbrain]

An analogy is if I told you that I speculated on oil futures and lost heaps of money, then ran around telling people that oil was just useless and stupid and everybody is going to stop using it in their manufacturing processes because of all the bad publicity.

totally

[porc]

Reality check: Bitcoins are only "cheap"  when compared to the pyramid high price of 1200 dollars. They are nose bleed territory expensive, when compared to the few cents they were worth originally.

[geraFoerra]

Reality check: Bitcoins are only "cheap"  when compared to the pyramid high price of 1200 dollars. They are nose bleed territory expensive, when compared to the few cents they were worth originally.

Bitcoins were worth cents many years ago, but 1200 dollars recently. So more appropriate is to say Bitcoins are cheap now

[JimboToronto]

It hasn't finished crashing yet. By the time it does it will be by far the biggest (and possibly final) Bitcoin bubble.

LOLOLOL

Bubbles, bubbles, so many bubbles.



Mmmm, Cheap coins.

 

[Cluster2k]

I'm not sure hoping that speculators lose everything is a particularly kind world view.  It's rather destructive to the soul.

We've seen bubbles come and bubbles go, with each one inflating to a much higher price than before.  Maybe this one will reinflate too, but I'm thinking we're running out of suckers to tap.  We've had a go at the Chinese and they said 'mei you' pretty quickly.  If anything the Chinese have done us a favour and proven the long held theory that an effective way to destroy the value of bitcoin is not to attack the commodity directly, but to cut off the money supply to exchanges that trade in it.  Other governments have surely taken note.

[Zooey]

Kim Jong Un, is that you?

[Vagnavs]

I'm not sure hoping that speculators lose everything is a particularly kind world view.  It's rather destructive to the soul.

agree, now think of the elderly.. Things are slowing down for them, maybe not running on all cylinders. They decided to invest in the hopes of making some money. It's hard not to feel bad, rather than being happy OP.

[taenaive]

people don't get distracted by short term swings and emotions. Bitcoin always go up in long term.

[Stake]

As I've been watching, it seems like there's a wall ~500 USD.

[BittBurger]

Bitcoin was always going to collapse, and most of its most noisy supporters knew damn well it would.

When did Bitcoin "Collapse"?   Are you seriously retarded?

Its December 18.

We were at $208 ..... November 1.   That's what.  A whole month 1/2 ago?

China came .... we went up.

China left .... we go back down.   And not even all the way back down.

Common sense.

When Bitcoin hits $200, then crashes to $15 .....

At that point .... and only at that point ... will your words have any meaning.

Until then, a fucking $500 "stock" hasn't collapsed.

Unless you think Apple is in the shitter right now too ($550) .... Or Amazon.com currently at $375 .... surely they're going out of business.   You idiot ....

Your capability for rational thought is a total disaster "revans".

Please get some perspective.  

-Burger-

[Zooey]

I'm not sure hoping that speculators lose everything is a particularly kind world view.  It's rather destructive to the soul.

agree, now think of the elderly.. Things are slowing down for them, maybe not running on all cylinders. They decided to invest in the hopes of making some money. It's hard not to feel bad, rather than being happy OP.

Wait just a minute there.  What about...

http://www.youtube.com/watch?v=Qh2sWSVRrmo

[nanobrain]

The thing is in 2011 some people bought in at the top of the 'bubble'...it then crashed, they moaned and bitched but by April 2013 their investment had multiplied eight fold...which was when some other folk invested before it crashed again.  They bitched and moaned but the wise ones held and eight months later their investment had tripled.

So, if you bought in at $1200....just wait a while...you'll still get a better return than at your local bank.

[jballs]

Looks like the great Bitcoin pump and dump swindle is coming to its inevitable conclusion. Soon, all the vested interests who were screaming at people to buy in at $1000, telling people to sell their houses, cars, shirt off their back to buy buy buy will be shouting 'SUCKERS!'.


I hope there are plenty of people who lose absolutely everything to this scam. And I hope their utter financial ruin will serve as a warning. Bitcoin was always going to collapse, and most of its most noisy supporters knew damn well it would. Do you really think the Winkledouche twins believe their price projections? Not a chance. What about Max Keiser, the guy who has spent a decade complaining about dodgy financial products like derivatives, next thing he's promoting a Bitcoin derivatives market! Shysters one and all.

[ElectricMucus]

You forget those are the people calling for the collapse of modern civilization while they think to be Lord Humongous in the resulting dystopia.

A good deal of Schadenfreude is well deserved.

Do you really think that everyone who got excited about Bitcoin late and made a big bet on it was some kind of face-stomping villain? That's an awfully cold assessment, in a world where nearly every cause - even noble ones - could stand to benefit from some extra cash in the bank.

Here is the thing: Noble causes aren't pursued by people after this kind of gain.
No, besides a very few exceptions nobody in this community even thinks about the betterment of mankind, even more with the recent wave.

[BittBurger]

I woke up today to see Bitcoin back up, pushing 700 again .... and first thing I thought of was ... "I wonder how stupid revans feels right now?"

Our "collapse of hubris" isn't panning out like you (prematurely) ejaculated.  I mean predicted.