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rohnearner
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February 13, 2014, 07:41:37 PM |
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Be prepared for BTC to approach single digits and possibly even fractions of a penny before this is over. They stand the theoretical probability to rebound once an agreement or framework is reached but this story is definitely over for a while. Be aware of what you are dealing with - for a period of time you may feel a BTC is worth $1000 but the market may only be giving you 1 penny.  One of your posts yesterday says you're riding BTC all the way to $8500. Which is it? may be high on some kinda drugs..! but we have to figure out what post was that.. |
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rohnearner
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February 13, 2014, 07:44:18 PM |
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someone should seriously plan to get a panic button on keyboard and sell them in this community we'll find many members whom we can gift that. |
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Gamer67
Sr. Member
 Offline
Activity: 294
Merit: 250
тσ ¢σιи σя иσт тσ ¢σιи?
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February 13, 2014, 07:45:42 PM |
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Hehe, guys I will humour you. You will read the story soon enough. I dumped in over $500,000 early last year when the size of the network was 600 Petaflops. I sold everything around $1142 on GOX at the highest point. I have bought back in marginally on every single dip since then. It is not a mystery what happened and now I will ride the push this year to over $8000 per coin. I planned to only buy back in at about $1.3M and was in the middle of doing so when I got gox'ed, so if all my money was lost I decided to start buying more if not everything I have back into coins and have almost done so hehe. Again I have recognized the situation. If everything I had was gone - there was no risk to put it all on the table at this point. I understood the $500k may go to zero, I do not see it as X million. I have probably pulled about $150k out. I see no reason to take anything out right now.
I am so frustrated that I know a few miners that had a lot more coins than me and he dumped them all at $10 long before I knew what a Bitcoin was. Now he works for me. Managing risk is what I excel at. Sorry that is hard for you to understand. Best of luck to you. Maybe you will get lucky with EarthCoin - it is a project I felt worthy of my attention. You never know...
I am not in the game for $500 or $1000 per coin my friend. I am willing to lose all of it. My time horizons are much different. I plan to sell from $6500 all the way up to $8500. Thanks for the advice though. |
"I am not Dorian Nakamoto."
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AlexGR
Legendary
Offline
Activity: 1708
Merit: 1049
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February 13, 2014, 07:48:52 PM |
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why would btc be worth more than an ounce of gold at this stage in December?
Because there are over 5 billion ounces of above ground gold and only 12 million bitcoins. |
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rohnearner
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February 13, 2014, 07:56:40 PM |
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why would btc be worth more than an ounce of gold at this stage in December?
Because there are over 5 billion ounces of above ground gold and only 12 million bitcoins. You can't explain if someone is not ready to look with newer perspectives and already made up there mind..! |
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Frost000
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February 13, 2014, 10:45:32 PM |
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What a BS original post. If you're not interested in BTC anymore because it's not profitable enough for you, then go ahead and stop using it... We won't stop you!
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hilariousandco
Global Moderator
Legendary
Offline
Activity: 3850
Merit: 2645
Join the world-leading crypto sportsbook NOW!
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February 13, 2014, 10:47:16 PM |
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What a BS original post. If you're not interested in BTC anymore because it's not profitable enough for you, then go ahead and stop using it... We won't stop you!
He's probably just a bored troll with little to no coins. |
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Frost000
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February 13, 2014, 10:48:37 PM |
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What a BS original post. If you're not interested in BTC anymore because it's not profitable enough for you, then go ahead and stop using it... We won't stop you!
He's probably just a bored troll with little to no coins. That description is half accurate for me as well...  |
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Lethn
Legendary
Offline
Activity: 1540
Merit: 1000
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February 13, 2014, 10:49:39 PM |
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Fool, I'm just going to wait patiently until all those global markets propped up by central bank money printing collapse one by one, the Japanese Yen and the Turkish Lira are just the beginning.
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hilariousandco
Global Moderator
Legendary
Offline
Activity: 3850
Merit: 2645
Join the world-leading crypto sportsbook NOW!
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February 13, 2014, 10:53:34 PM |
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What a BS original post. If you're not interested in BTC anymore because it's not profitable enough for you, then go ahead and stop using it... We won't stop you!
He's probably just a bored troll with little to no coins. That description is half accurate for me as well... Oh, well you've better try rectify that then or soon you'll get mad and jelly and surely turn into a troll  . |
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Frost000
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February 13, 2014, 10:57:28 PM |
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What a BS original post. If you're not interested in BTC anymore because it's not profitable enough for you, then go ahead and stop using it... We won't stop you!
He's probably just a bored troll with little to no coins. That description is half accurate for me as well... Oh, well you've better try rectify that then or soon you'll get mad and jelly and surely turn into a troll . Yeah, I'll probably freak out, create a few shitty threads and throw my coins away... |
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kireinaha
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February 13, 2014, 11:00:25 PM |
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He voted for bitcoin before he voted against it.
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Night gathers, and now my bitcoinwisdom watch begins.
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Lethn
Legendary
Offline
Activity: 1540
Merit: 1000
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February 13, 2014, 11:47:30 PM |
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why would btc be worth more than an ounce of gold at this stage in December?
Because there are over 5 billion ounces of above ground gold and only 12 million bitcoins. You can't explain if someone is not ready to look with newer perspectives and already made up there mind..! technically there could be even more gold if you count the precious metals that have been discovered in space ( and yes, that's a true fact ) while precious metals are certainly good for now because of the scarcity and the way they're created once we're a spacefaring species the fresh supply of precious metals could easily change all that so unless we end up accidentally discovering a precious metal even rarer than gold then it could end up crashing the markets and the "It's rare" argument goes out the window which is why having a currency that follows a strict logic is actually a pretty good solution. p.s. I also hope those 5 Billion ounces include the precious metals located in Afghanistan |
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AlexGR
Legendary
Offline
Activity: 1708
Merit: 1049
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February 17, 2014, 01:21:03 AM |
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why would btc be worth more than an ounce of gold at this stage in December?
Because there are over 5 billion ounces of above ground gold and only 12 million bitcoins. You can't explain if someone is not ready to look with newer perspectives and already made up there mind..! technically there could be even more gold if you count the precious metals that have been discovered in space ( and yes, that's a true fact ) while precious metals are certainly good for now because of the scarcity and the way they're created once we're a spacefaring species the fresh supply of precious metals could easily change all that so unless we end up accidentally discovering a precious metal even rarer than gold then it could end up crashing the markets and the "It's rare" argument goes out the window which is why having a currency that follows a strict logic is actually a pretty good solution. p.s. I also hope those 5 Billion ounces include the precious metals located in Afghanistan Above ground quantities are everything that is mined and not lost post-production (like gold in gold plated electronics that end up in the junk). They are estimated at 180.000 tons or ~5.7bn ounces. This quantity increases every year (mining) by around 80-90mn ounces. Gold is scarce because it's hoarded immensely in vaults etc. Silver is not considered that scarce (10x supply in nature than gold) yet above ground quantities are near 25bn ounces (a ratio of just 1:5). In practical terms the average person will have trouble finding the 1:5 gold ratio to silver because gold is soooo hoarded. You will see a home having a silver dish weighing 1 kg but you won't see them having gold of 200 grams because most of the gold is in the vaults. People might have 50 "silver eagles" but not 10 "gold eagles" of 1oz. The 1:60+ value of gold (due to its hoarding) prevents it. Essentially the hoarding is what makes gold so scarce. |
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EvilPanda
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February 17, 2014, 01:32:42 AM |
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why would btc be worth more than an ounce of gold at this stage in December?
Because there are over 5 billion ounces of above ground gold and only 12 million bitcoins. You can't explain if someone is not ready to look with newer perspectives and already made up there mind..! technically there could be even more gold if you count the precious metals that have been discovered in space ( and yes, that's a true fact ) while precious metals are certainly good for now because of the scarcity and the way they're created once we're a spacefaring species the fresh supply of precious metals could easily change all that so unless we end up accidentally discovering a precious metal even rarer than gold then it could end up crashing the markets and the "It's rare" argument goes out the window which is why having a currency that follows a strict logic is actually a pretty good solution. p.s. I also hope those 5 Billion ounces include the precious metals located in Afghanistan Above ground quantities are everything that is mined and not lost post-production (like gold in gold plated electronics that end up in the junk). They are estimated at 180.000 tons or ~5.7bn ounces. This quantity increases every year (mining) by around 80-90mn ounces. Gold is scarce because it's hoarded immensely in vaults etc. Silver is not considered that scarce (10x supply in nature than gold) yet above ground quantities are near 25bn ounces (a ratio of just 1:5). In practical terms the average person will have trouble finding the 1:5 gold ratio to silver because gold is soooo hoarded. You will see a home having a silver dish weighing 1 kg but you won't see them having gold of 200 grams because most of the gold is in the vaults. People might have 50 "silver eagles" but not 10 "gold eagles" of 1oz. The 1:60+ value of gold (due to its hoarding) prevents it. Essentially the hoarding is what makes gold so scarce. Finally someone appreciated the hodlers |
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Lethn
Legendary
Offline
Activity: 1540
Merit: 1000
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March 18, 2014, 10:30:15 PM |
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lmfao at the anti-Bitcoin trolls, I remember them saying this shit back when Bitcoin was at $150, there was some guy who was openly boasting about how he sold and then of course moments later another price surge happened.
It's not that Bitcoin is worth anything, it's that paper money has become so worthless, Bitcoin is simply an honest reflection of that sort of pricing.
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