Bitcoin will plummet to $10 by first half of 2014

[tee-rex]

So I think first half of 2014 is really over now.

More than a month ago actually and it seems that we will be heading up in July.

You must be a programmer.  The first six months are 1 to 6, not 0 to 5. 

It doesn't matter how you count them, there are still 6 months in half a year ("six of one and half a dozen of the other"), and the last of them ended more than a week ago. So it was a false prophecy by a false prophet.

[JorgeStolfi]

So I think first half of 2014 is really over now.

More than a month ago actually and it seems that we will be heading up in July.

You must be a programmer.  The first six months are 1 to 6, not 0 to 5. 

It doesn't matter how you count them, there are still 6 months in half a year ("six of one and half a dozen of the other"), and the last of them ended more than a week ago. So it was a false prophecy by a false prophet.

Check the dates on those quotes.  On July 3rd, the first half had not ended "more than a month ago", only 3 days earlier.

[tee-rex]

So I think first half of 2014 is really over now.

More than a month ago actually and it seems that we will be heading up in July.

You must be a programmer.  The first six months are 1 to 6, not 0 to 5. 

It doesn't matter how you count them, there are still 6 months in half a year ("six of one and half a dozen of the other"), and the last of them ended more than a week ago. So it was a false prophecy by a false prophet.

Check the dates on those quotes.  On July 3rd, the first half had not ended "more than a month ago", only 3 days earlier.

Did I pretend it had? I was just telling that it didn't matter how you enumerated those months (0 to 5 or 1 to 6), since there are still 6 months that make half a year.

Let's call it a day finally!

[dadugan]

Let this thread fade away gracefully.

[Bit_Happy]

Let this thread fade away gracefully.

I would consider closing it might be a good idea, but at bitcointalk.org most topics get left open.
It stands as evidence showing how wrong the Bears can be. 

[Buffer Overflow]

Let this thread fade away gracefully.

Nice try professor. 

[boumalo]

Let this thread fade away gracefully.

I would consider closing it might be a good idea, but at bitcointalk.org most topics get left open.
It stands as evidence showing how wrong the Bears can be. 

OP should come back and say he was wrong and mods should CLOSE IT down

[blacky90]

[blumangroup]

Let this thread fade away gracefully.

I would consider closing it might be a good idea, but at bitcointalk.org most topics get left open.
It stands as evidence showing how wrong the Bears can be. 

This professor could not have been more wrong about this one.

[JorgeStolfi]

This professor could not have been more wrong about this one.

Well, he could have said "50,000 USD by the end of Q2". 

[tee-rex]

Let this thread fade away gracefully.

I would consider closing it might be a good idea, but at bitcointalk.org most topics get left open.
It stands as evidence showing how wrong the Bears can be. 

Who could have thought at the beginning of 2008 that the price of oil (yes, even oil) would fall from incredible $140+ to miserable $30 something within less than a year (that is more than 4 times). Could we consider this as an example proving how right the Bears can be?

[Adrian-x]

This professor could not have been more wrong about this one.

Well, he could have said "50,000 USD by the end of Q2". 

For practical reasoning being wrong it's about as effective a doubling your 0 Bitcoin investment every day.
At least professor Bitcoin had enough doubt in his competency to actually invest USD and buy some Bitcoin.

[JorgeStolfi]

For practical reasoning being wrong it's about as effective a doubling your 0 Bitcoin investment every day.
At least professor Bitcoin had enough doubt in his competency to actually invest USD and buy some Bitcoin.

I don't stay bitcoin-free because I trust my competency, but because (among other things) it seems to turn those who own it into religious fanatics, obnoxious salesemen, or worse...

[Adrian-x]

... religious fanatics, obnoxious salesemen, or worse...

You can spot them a mile away so avoid those people, but putting you faith in the likes of the IMF who make a precondition of lending $3.5 billion on condition you start a civil war and create income inequality as a business makes me think the obnoxious bitcoiners are the heavenly in comparison.

[JorgeStolfi]

You can spot them a mile away so avoid those people, but putting you faith in the likes of the IMF who make a precondition of lending $3.5 billion on condition you start a civil war and create income inequality as a business makes me think the obnoxious bitcoiners are the heavenly in comparison.

I grew up and still live in a country that was plundered by the IMF, with corrupt banks and politicians, and all that.  I have experienced runaway inflation, high taxes, stupid prohibitions, rotten public service, unfair justice, and more.  But I would still choose all that to the libertarian "Mad Max" utopia, and I put more trust in my government than in the Shrem Karpelès & Pierce Global Cryptobank Inc.

[Adrian-x]

You can spot them a mile away so avoid those people, but putting you faith in the likes of the IMF who make a precondition of lending $3.5 billion on condition you start a civil war and create income inequality as a business makes me think the obnoxious bitcoiners are the heavenly in comparison.

I grew up and still live in a country that was plundered by the IMF, with corrupt banks and politicians, and all that.  I have experienced runaway inflation, high taxes, stupid prohibitions, rotten public service, unfair justice, and more.  But I would still choose all that to the libertarian "Mad Max" utopia, and I put more trust in my government than in the Shrem Karpelès & Pierce Global Cryptobank Inc.

Who selling a mad max Utopia, or an economic system under control of Karpeles? I'm working towards better than we have now and Bitcoin is a great platform to do that. Be the Chang you want to see in the world don't focus on fighting the things you don't want fight for the things you want. Where your focus goes is where your energy flows.

If you can afford to invest in 1 Bitcoin now's a good time to hedge. Worst case you're giving money to some Mad Max best case you're taking it away from him.

[JorgeStolfi]

There were the same haters when bitcoin was less than $1. Now that the price has multiplied by 500x how many of those haters do you think have changed their tune? When the price hits $100,000 and they missed the boat, they will bash bitcoin even more still, because they will be so angry they missed out. Just makes me smile

This user seems to be copy-pasting old posts of other users.  Reported.

[SHA255]

This professor could not have been more wrong about this one.

Well, he could have said "50,000 USD by the end of Q2". 

but that was not what he was predicting. He was predicting that bitcoin would crash this year. It is did not. He was wrong.

[forsakenpnut]

I highly doubt bitcoin will crash this low. It will crash in the mid 300-400's then go to 6000$'s.

[JorgeStolfi]

This professor could not have been more wrong about this one.

Well, he could have said "50,000 USD by the end of Q2". 

but that was not what he was predicting. He was predicting that bitcoin would crash this year. It is did not. He was wrong.

The point is that his prediction "10$" was 1/60 of the actual price at the end of Q2 (~600$).  If he had said "50'000$", that prediction would be 83 times the actual price.

So his error woudl have been much bigger (in relative terms, that is, log scale) if he had said "50'000$" rather than "10$".  But in that case no one in this forum would have opened a thread to ridicule him, would they?