Cassius
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Activity: 1764
Merit: 1031
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March 20, 2014, 09:30:08 PM |
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Elliot Wave is hocus pocus. You might as well throw darts at a board instead.
Even if elliot wave has any truth to it, it won't apply to bitcoin. Why? Bitcoin is not a fluid market. You have 100 people who control between 1/3rd to 1/2 of all coins, add another 200 people and that most likely jumps to 3/4th's. Basically, out of the estimated 500k bitcoin holders the absolute vast majority hold the equivalent of zero. Elliot Wave's won't work on such a manipulated market. Even die hard bitcoin believer's had no qualms about cashing out into evil fiat at $1200.
Why are you here? That's the second thread I've seen your trolling on in 10 minutes. |
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GigaCoin
Sr. Member
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Activity: 308
Merit: 251
Giga
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March 20, 2014, 11:16:01 PM |
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in times like these it certainly does feel nice and cosy to have ur fiat back at your bank account  its your decision ofcourse, I'm still holding my coins, personally i don't blame you or anyone for cashing out given the bleak circumstances |
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Ibian
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Activity: 2268
Merit: 1278
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March 20, 2014, 11:21:39 PM |
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Streets, blood.
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Look inside yourself, and you will see that you are the bubble.
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master-P
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March 21, 2014, 04:46:31 AM |
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If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.
Shusht! Be quiet! You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest! Looking at the threads on the speculation forum now. One is talking about $1000 BTC, another $10k, and a third mentions $1 million bitcoins. And there's a few people on there saying $1 million is a conservative estimate. I agree with your sentiments above. While I do see potential in bitcoin, a lot of people seem to be delusionally bullish. |
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Ibian
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Activity: 2268
Merit: 1278
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March 21, 2014, 01:06:45 PM |
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If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.
Shusht! Be quiet! You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest! Looking at the threads on the speculation forum now. One is talking about $1000 BTC, another $10k, and a third mentions $1 million bitcoins. And there's a few people on there saying $1 million is a conservative estimate. I agree with your sentiments above. While I do see potential in bitcoin, a lot of people seem to be delusionally bullish. Yeah, can you imagine reaching dollar parity? LOLOL! |
Look inside yourself, and you will see that you are the bubble.
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fcmatt
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Activity: 2072
Merit: 1001
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March 23, 2014, 06:00:19 PM |
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If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.
Shusht! Be quiet! You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest! Looking at the threads on the speculation forum now. One is talking about $1000 BTC, another $10k, and a third mentions $1 million bitcoins. And there's a few people on there saying $1 million is a conservative estimate. I agree with your sentiments above. While I do see potential in bitcoin, a lot of people seem to be delusionally bullish. Yeah, can you imagine reaching dollar parity? LOLOL! Speculators have an easier time, psych wise, dealing with a dollar per btc. They can work with that in their heads. They can also justify several or a few hundred dollars per btc. That is still low enough to suck in speculators to keep the price up or stable. But once you get past 800 dollars per btc you are talking a lot of money for a normal joe. Like a weeks worth of labor to buy a bitcoin. That is when fresh blood is hard to find unless mania sets in. Tulip mania. Look at lottery ticket prices in the US as a good example of what the market bears before tickets dont sell. Btc is very close to that. |
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Ibian
Legendary
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Activity: 2268
Merit: 1278
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March 23, 2014, 07:21:55 PM |
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If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.
Shusht! Be quiet! You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest! Looking at the threads on the speculation forum now. One is talking about $1000 BTC, another $10k, and a third mentions $1 million bitcoins. And there's a few people on there saying $1 million is a conservative estimate. I agree with your sentiments above. While I do see potential in bitcoin, a lot of people seem to be delusionally bullish. Yeah, can you imagine reaching dollar parity? LOLOL! Speculators have an easier time, psych wise, dealing with a dollar per btc. They can work with that in their heads. They can also justify several or a few hundred dollars per btc. That is still low enough to suck in speculators to keep the price up or stable. But once you get past 800 dollars per btc you are talking a lot of money for a normal joe. Like a weeks worth of labor to buy a bitcoin. That is when fresh blood is hard to find unless mania sets in. Tulip mania. Look at lottery ticket prices in the US as a good example of what the market bears before tickets dont sell. Btc is very close to that. Bullshit. Speculators make money by not being braindead like the rest of the masses. |
Look inside yourself, and you will see that you are the bubble.
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fcmatt
Legendary
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Activity: 2072
Merit: 1001
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March 24, 2014, 04:14:50 AM |
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If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.
Shusht! Be quiet! You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest! Looking at the threads on the speculation forum now. One is talking about $1000 BTC, another $10k, and a third mentions $1 million bitcoins. And there's a few people on there saying $1 million is a conservative estimate. I agree with your sentiments above. While I do see potential in bitcoin, a lot of people seem to be delusionally bullish. Yeah, can you imagine reaching dollar parity? LOLOL! Speculators have an easier time, psych wise, dealing with a dollar per btc. They can work with that in their heads. They can also justify several or a few hundred dollars per btc. That is still low enough to suck in speculators to keep the price up or stable. But once you get past 800 dollars per btc you are talking a lot of money for a normal joe. Like a weeks worth of labor to buy a bitcoin. That is when fresh blood is hard to find unless mania sets in. Tulip mania. Look at lottery ticket prices in the US as a good example of what the market bears before tickets dont sell. Btc is very close to that. Bullshit. Speculators make money by not being braindead like the rest of the masses. I dont think a non brain dead speculator would jump into this btc market right now. They would wait for a definite barrier being breached. In other words a clear rally to get in on the upswing. This means to me the price of a bitcoin lottery ticket is still too high. Joe Average aint gonna toss 500+ plus dollars around for a coin. Speculators arent excited yet. This train is heading south. Sub 500 in a few weeks easy. Pysch wise... The current price in this atmosphere is poison for bitcoin. |
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