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Author Topic: All classic sings for another drop soon.  (Read 4044 times)
quartz92
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November 06, 2011, 09:12:24 PM
 #41

I wouldn't be surprised if it did..
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November 06, 2011, 11:45:21 PM
 #42

Prices are probably headed to $0.25 per coin or lower.  There is no functional economic use for bitcoin as a medium of exchange in society at this time.  The only thing it has going for it is the stability of the platform, but even that is shadowed by the ease of theft and long transaction delays (compared to the 5ms secure transactions for trading other types of commodities or currencies).  On the bright side, the decline will become more gradual below the $1.00 level, which is about the time speculators started buying into the market.

When a bubble pops, it pops all the way.  We're seeing that with housing right now - whether the government spends $1 or $10 trillion, it doesn't matter - housing indexes will reach the level of the 1960s, whether that happens in 2015 or in 2040.  You can't stop the inevitable trough of the wave.  Japan's real estate bubble took two decades to fully deleverage, and it's smaller than the U.S. real estate bubble.  The same thing happens with markets as well - we saw it (at least most of the people on the forums hopefully remembers) with the dot com crash - companies without any revenue stream being valued in the billions disappeared overnight - only later in the mid 2000's did tech reach proper valuations.  Ultimately, the bubble collapse, or correction, helps establish the true valuation of an asset.  Bitcoin's underlying worth is basically zero due to its uselessness, lack of implementation, and inherent self-limitations.  $.25 is a maximum estimate for a bottom.
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November 07, 2011, 12:23:49 AM
 #43

...
On the bright side, the decline will become more gradual below the $1.00 level, which is about the time speculators started buying into the market.

When a bubble pops, it pops all the way.  We're seeing that with housing right now - whether the government spends $1 or
...
Bitcoin's underlying worth is basically zero due to its uselessness, lack of implementation, and inherent self-limitations.  $.25 is a maximum estimate for a bottom.

I'm not sure what you are trying to mean by 'lack of implementation' (I suspect you are trying to glue random word together to be honest), but in fact it has held up remarkably well given the technical problems it seeks to address.  Even the some of the primary developers seem to be somewhat slack-jawed about that.  As long as that holds, I would anticipate a steady increase familiarity and in utilization for various things, and subsequent increase in demand.  If there are shocks to our existing mainstream monetary systems, I could see Bitcoin going into another rapidly increasing demand cycle.


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November 07, 2011, 12:49:54 AM
 #44

When a bubble pops, it pops all the way.  We're seeing that with housing right now - whether the government spends $1 or $10 trillion, it doesn't matter - housing indexes will reach the level of the 1960s, whether that happens in 2015 or in 2040.  You can't stop the inevitable trough of the wave.  Japan's real estate bubble took two decades to fully deleverage, and it's smaller than the U.S. real estate bubble.  The same thing happens with markets as well - we saw it (at least most of the people on the forums hopefully remembers) with the dot com crash - companies without any revenue stream being valued in the billions disappeared overnight - only later in the mid 2000's did tech reach proper valuations.  Ultimately, the bubble collapse, or correction, helps establish the true valuation of an asset.  Bitcoin's underlying worth is basically zero due to its uselessness, lack of implementation, and inherent self-limitations.  $.25 is a maximum estimate for a bottom.

This is a bad analogy.  Housing is a product wherein the utility is well known -- houses are homes for living in.  People hardly ever buy them for any other purpose (other than to resell).
The dot.com "bubble" is a bit different, but more similar to this bad housing analogy than to Bitcoin.  People knew what websites were for and what their purposes were and to a large extent, what the purposes would be.  The main problem with the dot.com "bubble burst" was that tech wasn't advanced far enough to facilitate websites to fruitfully fulfill all the purposes they were intended to fulfill until recently.
Everybody that embraced the WWW in its early years assumed that just having something out on the Web meant it was going to get a lot of attention -- they overestimated the capacity of the technology at that time, and in a similar vein, Bitcoin still has alot of work to be done for sure.
Housing never had any other purpose to fulfill, and that's why the housing market IS a speculative bubble.

Bitcoin is way different that the housing bubble, and pretty different from the "dot.com" thing too -- it is an entirely new thing, built around an entirely novel concept.  There's no telling what might be done with it at this point -- anyone calling bitcoin dead at this point is likely going to end up looking extremely foolish in retrospect.

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November 07, 2011, 01:21:52 AM
 #45

In some way bitcoin strikes me as similar as the historical silver bubble in 1980, at least the slopes are different and the frenzy is.
The cause may be something else... but the end result the same, at some point if it is not abolished it will rise in price again.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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November 07, 2011, 09:31:07 AM
 #46

Stupid question:

Where do you guys "view" these bidwalls? I've been looking on bitcoincharts and bitcoinity but can't see these huge walls that people talk about...

Mother of no children. Part-time idiot. Full-time douche.
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November 07, 2011, 09:49:08 AM
 #47

Stupid question:

Where do you guys "view" these bidwalls? I've been looking on bitcoincharts and bitcoinity but can't see these huge walls that people talk about...

http://mtgoxlive.com
Dan The Man
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November 07, 2011, 06:26:49 PM
 #48

This is a good weekend to go outside and do something other than watch the price of Bitcoins stay the same. I am predicting that we will come out on Monday somewhere between 3.00 and 3.20

Called it bitches

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November 07, 2011, 06:39:31 PM
 #49

This is a good weekend to go outside and do something other than watch the price of Bitcoins stay the same. I am predicting that we will come out on Monday somewhere between 3.00 and 3.20

Called it bitches

You da man!

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November 30, 2011, 11:56:30 AM
 #50

At $2.80 it doesn't seem to be much of a "drop" with strong support at the $2.60s.
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November 30, 2011, 06:10:06 PM
 #51

At $2.80 it doesn't seem to be much of a "drop" with strong support at the $2.60s.

Unless it does what the high school senior dude does on prom night when he realizes he forgot the condom

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RyNinDaCleM
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November 30, 2011, 06:13:35 PM
 #52

At $2.80 it doesn't seem to be much of a "drop" with strong support at the $2.60s.

Unless it does what the high school senior dude does on prom night when he realizes he forgot the condom

Say "Eff it"?

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November 30, 2011, 06:51:55 PM
 #53

At $2.80 it doesn't seem to be much of a "drop" with strong support at the $2.60s.

Unless it does what the high school senior dude does on prom night when he realizes he forgot the condom

Punch her in the stomach after? I dont really see how that applies.
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November 30, 2011, 07:04:47 PM
 #54

Oohh! Pulls out  Cool
I see what you did there.

So, he says Effit, and does it anyway, then pulls out, and for good measure, punches her in the stomach after. Like the good ole' double tap.
 Cheesy Cheesy Cheesy

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November 30, 2011, 07:06:04 PM
 #55

Alternatively, he fucks her in the ass. That might also be a good analogy.

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November 30, 2011, 07:58:20 PM
 #56

At $2.80 it doesn't seem to be much of a "drop" with strong support at the $2.60s.

Unless it does what the high school senior dude does on prom night when he realizes he forgot the condom

Tells her he's going to pull out and doesn't?

Has a kid in August?

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November 30, 2011, 08:00:20 PM
 #57

At $2.80 it doesn't seem to be much of a "drop" with strong support at the $2.60s.

Unless it does what the high school senior dude does on prom night when he realizes he forgot the condom
Sit at his computer with a bag of cheetos, watching the bitcoin rate on his left screen, and porn on the right screen, and using a sock for lack of condom?

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