Who else sold out?

[elggawf]

It is great to have people like you, because you guys produce some cool stories.
One of the best example is https://bitcointalk.org/index.php?topic=137.0

Yeah, and while none of mine are as cool as that, there was a guy on Reddit commenting about that thread saying how stupid the guy was.

My personal answer was that the whole "coulda shoulda woulda" around that particular case is just dumb - without the first few people trading them for things or USD, the market wouldn't be where it is today. Someone has to be the guy to get rid of their stuff. I think the exact example I used was "if I would have just saved all my allowance until I was 18, I could buy a ferrarri!" - it's just dumb to think like that.

The guy got two pizzas and an awesome story out of what was at the time essentially worthless - that's cool as shit, regardless of how much those coins would be worth today.

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[bitconformist]

I sold out my dollars to buy Bitcoins. I was sick of this...

Now plot that against income.

FWIW, inflation is a good thing if you're in debt to someone.

[niko]

This is not a troll thread. I ask a simple question, if you start spewing crap about this being a troll thread then you are the troll. This is a legitimate question and I see no reason why it doesn't have a place on this forum.

How many of you guys have lost faith in Bitcoin and sold almost all of yours?

This thread is useless.  It should have been a poll.

[teflone]

Lost faith.. no..


Sold.. whats that ?

[Revalin]

My chief objection to your last statement is that much of what we've learned, we only had to re-learn it because we disregarded the learnings of the last few centuries of economics.

I agree in regards to economics, though it's been an interesting experiment to see how an economy behaves at a small scale.  (So far: it's an awful lot like a penny stock, and there aren't any really big surprises if that's what you expected early on.)

There are other things we're learning, though.  The technical proof-of-concept is great.  Seeing how people react to confirmation delays is interesting.  People would never put the work into more advanced clients if we didn't have a functional network to motivate them, and I'm eager to see how light clients really pan out.  An ATM in this kind of world is an interesting challenge.  There's a lot of stuff like that that that we're learning.

[Otoh]

My trading history

Bought 3 Aug 2011 Britcoin

1 @ $10.33
1 @ $10.00
5 @ $9.84

Bought 6 Aug

50 @ $8.70
70 @ $8.22
8 @ $8.53

Bought 7 Aug

10 @ $6.58
13 @ $6.56

Bought 15 Aug Mt.Gox

145.19 @ $11.2

Bought 16 Aug

0.525 @ $11.1

Sold 27 Aug Mt.Gox

145 @ $8

Sold 27 Aug Britcoin

145 @ $8.19

Total Btc atm: 13 @ $6.50 = $84.50
Trading loss atm: $493 from $3270, about 15%

I wonder if this would be tax deductable, can't see why not

lost faith - nope, lost money - yep

[Technomage]

Lost faith: no
Sold: yes
Bought back: just now

Bitcoin is still Bitcoin, nothing has changed. It's great. If you lost faith now because the price is down then you had faith in the wrong things to begin with. The price is not the most relevant factor for Bitcoin and neither are any of the stuff that has happened with 3rd party services. Bruce Wagner ain't Bitcoin either.

Bitcoin is Bitcoin and it's still doing well. There are no real issues that are causing Bitcoin itself trouble at the moment so why lose faith?

[cbeast]

I will start reselling Bitcoin to friends and acquaintances when I have a simple off-line solution for printing key pairs as QR codes. BTW, what happened to bitbills?

[elggawf]

I will start reselling Bitcoin to friends and acquaintances when I have a simple off-line solution for printing key pairs as QR codes. BTW, what happened to bitbills?

They used MyBitcoin as their payment provider, and haven't found a new one yet.

[Rassah]

The value of myholdings dropped quite a bit, since I've bought between $6 and $17, and one large purchase at $20, but I'm still buying. May buy another $3k worth in a week or two.

[hmongotaku]

I'm selling out... don't know if it's manipulated or wut.. but been dropping steadly at .5 incroments, these last few days.. 10,... 9.5....9.....8.5...8...7.5....7...now 6.5... great...

[Otoh]

Technical chart trends point to down:

http://blog.bitcoinwatch.com/

$6 was nearly breached today from $7.5, I think that we may see a slide to $5 quite easily & with Fin CEN, KYC for MSB on 27th Sept being bearish

[Synaptic]

Technical chart trends point to down:

http://blog.bitcoinwatch.com/

$6 was nearly breached today from $7.5, I think that we may see a slide to $5 quite easily & with Fin CEN, KYC for MSB on 27th Sept being bearish

I have been watching that site for month, and it's just pathetic.

His "technical analysis" is nothing but common-fucking-sense, and he keeps saying LONG TERM: UP, like some idiot with a sales pitch.

What a joke.

[Synaptic]

Technical chart trends point to down:

http://blog.bitcoinwatch.com/

$6 was nearly breached today from $7.5, I think that we may see a slide to $5 quite easily & with Fin CEN, KYC for MSB on 27th Sept being bearish

Actually, he's been consistently WRONG throughout the bubble deflation.

I remember right after the Gox scandal he was predicting that it was going to rise large very soon.  Then after the first big crash he predicted a huge rebound. Then again during the second big crash.

Anyone who follows his "technical analysis" ascribing any credibility are just as psychologically damaged and transparent as the author...

[newMeat1]

The price is only gonna go so low. I mean, there are still a lot of people who are interested in and use bitcoin. It's perfect for Craig's List-style trading. There's no way it's going under $2.

Well, let the real commerce begin. Can anybody make me a deal on some 26 x 1.5 bicycle inner tubes? I want about 10, if the price is right.

[bitconformist]

The price is only gonna go so low. I mean, there are still a lot of people who are interested in and use bitcoin. It's perfect for Craig's List-style trading. There's no way it's going under $2.

Well, let the real commerce begin. Can anybody make me a deal on some 26 x 1.5 bicycle inner tubes? I want about 10, if the price is right.

26"? Pfft. Real men ride 700c, peewee.

[gw4tt]

as it gets into this range the resistance gets higher and higher to go lower. Unless people completely give up on the idea of bitcoin I can't see it going much below $4.

[Synaptic]

as it gets into this range the resistance gets higher and higher to go lower. Unless people completely give up on the idea of bitcoin I can't see it going much below $4.

Why?

Why can't bitcoin still have a vibrant economy and it be worth < $1?

I'll tell you why this is the perception: because Bitcoin has and always will be nothing but a bullshit pyramid scam, and people think that the price MUST be above $1 somewhere for bitcoin to be relevant.

But I ask you this:  How is Bitcoin anymore important than the GDP of ENTIRE FUCKING NATIONS who's currency is denominated much lower than 1 USD?

Is Bitcoin more important than Japan's economy?

India's?

Mexico's?

Estonia's?


NO, NO OF COURSE NOT YOU GODDAMNED XXXXX.

[N12]

But I ask you this:  How is Bitcoin anymore important than the GDP of ENTIRE FUCKING NATIONS who's currency is denominated much lower than 1 USD?

lrn2 market cap, the units differ in scarcity.

[Synaptic]

But I ask you this:  How is Bitcoin anymore important than the GDP of ENTIRE FUCKING NATIONS who's currency is denominated much lower than 1 USD?

lrn2 market cap, the units differ in scarcity.

Relative to their respective economies?


LOL, lrn2 fail less.