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Jixtreme
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September 16, 2011, 08:26:51 PM |
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Getting a good laugh is never a waste of time.
Oh don't worry... If you're not planning on getting in, I'll be laughing soon enough. |
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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Cluster2k
Legendary
 Offline
Activity: 1692
Merit: 1018
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September 17, 2011, 07:37:10 AM |
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Getting a good laugh is never a waste of time.
Oh don't worry... If you're not planning on getting in, I'll be laughing soon enough. I have no doubt that some people are keen to talk the price of bitcoins down because they're jealous of missing out on bitcoins at 50c each. But many other people are trying to talk the price up for their own gain. For example, Jixtreme claimed to have bought bitcoins at $9.80 in late August. It's not pleasant to have an investment fall 50% in less than a month, but that's the risk one takes. Any comments along the lines of 'get in now or miss out!' or similar have to be seen in light of how much money the poster has lost on the falling price so far. |
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piramida
Legendary
Offline
Activity: 1176
Merit: 1010
Borsche
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September 17, 2011, 08:59:23 AM |
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I'm in a special position here because I have twice as much BTC now as I bought but they are worth twice as few USDs as I invested. So help me decide, am I losing or not?  Sure, there is some unrealized loss but I'm still bullish on BTC, playing quick sell/buyback with the falling market, and I could not care less if the total value of that risky investment in USD is down - it's too short term to even worry. I'm more interested in generating more BTC on volatility and what the price will be in several years, daily fluctuations are just noise. |
i am satoshi
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RyNinDaCleM
Legendary
Offline
Activity: 2408
Merit: 1009
Legen -wait for it- dary
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September 17, 2011, 05:15:35 PM |
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I'm in a special position here because I have twice as much BTC now as I bought but they are worth twice as few USDs as I invested. So help me decide, am I losing or not? Sure, there is some unrealized loss but I'm still bullish on BTC, playing quick sell/buyback with the falling market, and I could not care less if the total value of that risky investment in USD is down - it's too short term to even worry. I'm more interested in generating more BTC on volatility and what the price will be in several years, daily fluctuations are just noise. ^This^ I have twice the BTC at half the $/BTC + cash in Gox! So, I'm fine with the risk! Trading on noise can be futile, but I've been doing pretty well! |
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Minsc
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September 18, 2011, 12:35:09 AM |
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If bitcoin goes back to $8, everyone will be all "wow price is up, good time to unload coins for a profit" and selling, selling, selling till it's down to $3 again.
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1DcXvfJdeJch9uptKopte5XQarTtj5ZjpL
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RyNinDaCleM
Legendary
Offline
Activity: 2408
Merit: 1009
Legen -wait for it- dary
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September 18, 2011, 02:22:21 AM |
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If bitcoin goes back to $8, everyone will be all "wow price is up, good time to unload coins for a profit" and selling, selling, selling till it's down to $3 again.
This would likely happen! Though, if it got there, hopefully people would settle down and wait, to see if it'll keep going! By then, it'll tank because of some dumbass dumping 10k to the highest bidder! |
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Minsc
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September 18, 2011, 03:36:27 AM |
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If bitcoin goes back to $8, everyone will be all "wow price is up, good time to unload coins for a profit" and selling, selling, selling till it's down to $3 again.
This would likely happen! Though, if it got there, hopefully people would settle down and wait, to see if it'll keep going! By then, it'll tank because of some dumbass dumping 10k to the highest bidder! After the crash from $30, people are waiting for it to hit $1-2 so it can finally stabilize before they'll buy coins and then they will be wary. They do want to invest, but don't want to buy coins till it has finally hit bottom so they won't lose 90% of their money. |
1DcXvfJdeJch9uptKopte5XQarTtj5ZjpL
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piramida
Legendary
Offline
Activity: 1176
Merit: 1010
Borsche
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September 18, 2011, 06:07:08 AM |
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But since nobody (besides you? ) knows where the bottom is, judging by your logic everybody would start buying once the price moves somewhat up, creating an avalanche effect (rally). I think, short term we may fall even further but I am not selling ATM, too risky. The breakout can start any week now. If the price falls to 2-ish region, I'm doubling my position, sending more money in Here's something to think about: this is a graph of bitcoin money volatility, how much old money moved around. Obviously, the activity is not slowing down. Something is cooking. http://banana.mine.nu/daysdest.html |
i am satoshi
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