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Author Topic: I am predicting a spike above $3  (Read 9869 times)
mjcmurfy
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October 21, 2011, 01:01:21 AM
 #21

So you are saying that individuals should not pursue personal gain, but rather they should refuse to exchange money for other valued items at a variable exchange rate because it hurts the market.

What I am saying is people should stop trying to speculate on the future price of a currency in order to realize profit. Speculate all you want on assets for all I care, because I won't buy any of your over-inflated assets. But when you inflate and deflate the actual currency with speculation, it pisses me off, because I have to conduct business with the stuff. You don't have that issue to worry about.

Speculation is not productive, causes boom-bust cycles, and detracts from the real purpose of the bitcoin project. I.e an alternative monetary system. NOT the same one again, packaged slightly differently with a techno-ribbon perched on top.

Ok, you have convinced me that I should no longer speculate on the value of bitcoin. Since I have no other use for a virtual currency, I will be getting out of bitcoins alltogether. I will continue to buy my groceries with dollars because that's what I'm paid in and that's what the supermarket accepts.

I'm glad I have convinced you. We don't need people who have no use for bitcoin other than speculation. Now I can go to sleep happy.

If you realize in the future that there are many purposes for bitcoin other than speculation, remember that you can still earn those coins in a productive way by providing goods or services in exchange for them without breaking your promise not to speculate any more.

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worldinacoin
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October 21, 2011, 01:03:34 AM
 #22

I hope your predictions come through, but till now no signs of it Sad
Dan The Man
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October 21, 2011, 01:18:36 AM
 #23

I said 24 hours. Give me at least 12 before you start calling me wrong. And just in case it was unclear, I was being sarcastic to Mcjmurfy. I hope it is clear at least to others how ironic it is that he claims to have insight into the "true" purpose of bitcoin and advocates regulation over how it is traded, all within the context of a web forum called "speculation".

fivebells
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October 21, 2011, 01:25:45 AM
 #24

Well, there was a huge purchase a little while ago, so who knows?  You could be right.
mjcmurfy
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October 21, 2011, 02:12:09 AM
 #25

And just in case it was unclear, I was being sarcastic to Mcjmurfy.

If you have to point out your sarcasm, you didn't do it properly.

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cypherdoc
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October 21, 2011, 02:38:49 AM
 #26

thats entirely possible. people buying at current levels have a -10% to -15% tight stop loss at 2$ and higher return opportunities towards 3.5-5 $.

It just needs a trigger.


BOOM!  the gun just went off!
carlos
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October 21, 2011, 02:41:05 AM
 #27

2.7  ... seems like the guy was right... but where is the support now? Cheesy

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October 21, 2011, 02:44:18 AM
 #28

We might see $3.  After each big drop, there's been some recovery. But each top was lower than the last, and each recovery lasted no more than three days.
fivebells
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October 21, 2011, 02:49:09 AM
 #29

Yeah, Dan.  How'd you do it.  Even if we don't reach $3, that was a remarkably specific and accurate prediction.
carlos
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October 21, 2011, 02:51:59 AM
 #30

strange...

Buy 10000 BTC for 28448.97 USD

Can't fill complete order!
Sell 9007.01 BTC for 22337.85 USD

Dan The Man
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October 21, 2011, 03:01:33 AM
 #31

Yeah, Dan.  How'd you do it.  Even if we don't reach $3, that was a remarkably specific and accurate prediction.

I played a little game called spot the pattern. Add to that the fact that things seem to always jump or drop near the start of the weekend and I felt good that it would move by Friday. I also lost a bunch when the bottom dropped out so I kind of understand how people are skittish right now. They want to buy back in, but need a bit of time to see that the big fall is over and things will be a little more predictable.



cypherdoc
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October 21, 2011, 03:01:45 AM
 #32

We might see $3.  After each big drop, there's been some recovery. But each top was lower than the last, and each recovery lasted no more than three days.

no one's listening to you.
fivebells
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October 21, 2011, 03:05:18 AM
 #33

Thanks for the explanation,Dan.
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October 21, 2011, 05:44:12 AM
 #34

we also predicted this move in our subscriber service and issued a short term alert about this opportunity, and confirmed this rally potential in our weekly newsletter. the pattern was clear

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fivebells
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October 21, 2011, 09:17:15 AM
 #35

Yes but you only ever predict ralliies in the near-term, sometimes with amusing inaccuracy.  So you predictions are not very informative.
Are-you-a-wizard?
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October 21, 2011, 09:21:22 AM
 #36

http://bitcoinstatus.rowit.co.uk/

Looks normal at first glance but we can actually expect another big drop in price within the next 24 hours if my theory is correct.

I say we will be <$2 by this time tomorrow, feel free to quote me on that.
Dan The Man
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October 21, 2011, 11:54:01 AM
 #37

Ok, now you can start calling me wrong, but at least it was kind of close. I'll have to remember to keep my predictions more vague in the future.

Mousepotato
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October 21, 2011, 03:51:20 PM
 #38

Looks like it's gradually increasing, but I'd hardly call that a "spike".  Sucks too, I was hoping to pick some up for $1.5-1.6X.

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worldinacoin
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October 21, 2011, 03:56:26 PM
 #39

It is not really a prediction, more of a guess work. 
neptop
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October 21, 2011, 04:05:58 PM
 #40

We need a Bitcoin betting website where speculators can actually bet on prices and link their bets.

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