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Author Topic: Bitcoin - The investment of the year  (Read 1505 times)
BCEmporium
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September 09, 2011, 01:43:13 PM
 #1

Bitcoin had been undoubtedly the investment of the year.
The late panic people is missing all the points and point out the major issues of bitcoin, the mind of many bitcoiners;

- When you do an investment for a year, 2 years, 5 years. Yet bitcoiners seams to want to do a 5 minute investment... with profit.

If you invested in bitcoins last September you'd bough them at 0.2 USD each, selling 1 year after you would get 5.37 USD, 5.35 USD of profit on each coin.
Now go to your bank and ask about the best investment for 1 year. You're looking at what? 5%? 6%? Not even gold got this up trend during the year, to not mention for gold you would need a lot more starting cash to get in.
And how about if you need the money 6 months from now? Ouch! You'll loose all interest and even pay a penalty.
«Oh! But my bank is warranted to give 5% interest» Is it? Read carefully the small letters, you may come in to a small surprise like "previous earnings are not a warrant of future earnings" or so (this means, last year we paid 5%, we expect to pay 6% this year, but... you may get 4% or even -something%).

- "Mining" difficulty. It simply DOES NOT matter, it goes down when "miners" switch off their rigs and up when they switch it on. To the best this measures the trust of a few nerds on bitcoin. To not mention many or most of them fit within the "5 minutes with profit investment" portfolio.

Now, seeing the current price plummeting of bitcoin, I've to say I'd been waiting quite long time for this. Time to ditch out the bad seeds, the "5 minute profit" traders and the massive deflation and inflation they caused. Time to built, finally, a bitcoin economy! I'm looking at all the projects I've on hold since btc jumped from 1 to 3$ then to 30$ USD.
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jongood
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September 09, 2011, 01:49:48 PM
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but when the price steadies wont they just buy back in with even more bitcoins?
BCEmporium
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September 09, 2011, 02:02:32 PM
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but when the price steadies wont they just buy back in with even more bitcoins?

Doesn't look like, if that would be so the price wouldn't be dropping so much and at such fast pace. "5 min traders" are simply going away.
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September 09, 2011, 02:18:22 PM
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day traders will eventually leave bitcoins
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September 09, 2011, 02:50:12 PM
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I dont see that, as long as it fluctuates there will be day traders
BCEmporium
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September 09, 2011, 03:06:47 PM
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I dont see that, as long as it fluctuates there will be day traders

The question for quite a while is that the price doesn't "fluctuate", it bumps hard up and down.
Day traders are like parasites, an economic disease. They cause massive deflation while entering and massive inflation while leave. This is actually because their actions have the opposite effect on the thing they're speculate about; while entering they inflate a bubble reducing the usability, and therefore the value  of such thing - EVERYTHING in this planet derives its value from the use people found on it, there's no intrinsic value at all -, while leave they promptly cause too much deflation, running like scared cows, and shift the value by offer overflow, whereas at some point the thing they're leaving actually already worth more than what they're getting.
We're standing over a bend point; either some of them notice the shift and reenter, infecting the market for a while more, or they just leave and bitcoin becomes more stable... at least until the next batch of parasites show of.
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September 09, 2011, 03:09:57 PM
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Day traders are a good thing, they slow rapid growth by selling high, and stabalize declines by buying...its the inexperienced who are hurting bitcoin selling low and buying high, making it really erradic
BCEmporium
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September 09, 2011, 03:48:05 PM
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Day traders are a good thing, they slow rapid growth by selling high, and stabalize declines by buying...its the inexperienced who are hurting bitcoin selling low and buying high, making it really erradic

Guess you might be right and I probably jump into swift conclusions, FOREX is filled up with day traders and it doesn't bump.
This inexperienced kind tend to be in a too much of low stack and high panic mood. A kind that looks to enter too late and jump out too early and anxious: «gold is good» BUY! BUY! BUY!... «oh my God! I'm loosing 1 buck!» SELL! SELL! SELL!
BTC is experiencing the same outcome of commodities - not quite currencies - lately as many inexperienced day traders join because "they saw in the news".

To the bottom end:
Experienced day traders works as sentinels on a currency/good.
Inexperienced day traders works as market bumpers.
CanaryInTheMine
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September 09, 2011, 03:54:40 PM
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day traders will eventually leave bitcoins

day traders leave nothing...

| In Default we Trust | Need gold/silver for btc? | Buy bitcoins |
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September 09, 2011, 04:07:36 PM
 #10

Day traders are a good thing, they slow rapid growth by selling high, and stabalize declines by buying...its the inexperienced who are hurting bitcoin selling low and buying high, making it really erradic

Guess you might be right and I probably jump into swift conclusions, FOREX is filled up with day traders and it doesn't bump.
This inexperienced kind tend to be in a too much of low stack and high panic mood. A kind that looks to enter too late and jump out too early and anxious: «gold is good» BUY! BUY! BUY!... «oh my God! I'm loosing 1 buck!» SELL! SELL! SELL!
BTC is experiencing the same outcome of commodities - not quite currencies - lately as many inexperienced day traders join because "they saw in the news".

To the bottom end:
Experienced day traders works as sentinels on a currency/good.
Inexperienced day traders works as market bumpers.


Central banks are in the FOREX market and please remind me the limit of currency they can buy or swap to manage the markets?

For the dumb and retarded a central bank can swap it's currency outside of the market with another central bank then use the funds to buy it's currency should the price fall too much too fast.

Bitcoins is WAY WAY WAY over sold look for a fast bounce.
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