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Author Topic: Nagle  (Read 11669 times)
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December 19, 2011, 01:47:48 PM
 #1

Are you long yet? You are suspiciously quiet.

How do you guys not see the history and the cycle? It happens every single effing month. The price crashes by ~20 to 50%, people panic and say Btcoin is dead, It stays down for about a week then the price rises, and people all say that this is the turning point. Eventually the price falls in line with the same straight (log) line of slow decline that it has been on since the middle of the summer and everyone declares that Bitcoin has stabilized. Then it happens again. It happened first in June, it happened in July, it happened in August, it happened in September, it happened in October, and now it's happening in November yet everyone is surprised every month.
Right.

BTC/USD, last 5 months, with 30 day trailing moving average.

I've been saying "long, slow slide" for months.

It's still not clear what the endgame is. It hardly matters at this point, though. As I point out occasionally, if one business the size of a typical single supermarket used Bitcoins, liquidating their daily receipts would crash the market.  Bitcoin is now too dinky to be used as a currency.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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December 19, 2011, 02:08:36 PM
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if there are any other markets on the downside right now, almost certainly he's having a field day there.
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December 19, 2011, 02:38:24 PM
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if there are any other markets on the downside right now, almost certainly he's having a field day there.


+1. Our favorite trolls have all become less trollish or moved on to other markets Smiley

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December 19, 2011, 03:11:06 PM
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He must've bought all the coins he so desperately wanted for cheap.

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December 19, 2011, 03:14:42 PM
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Nagle hasn't posted since December 1.  18 days without Nagle.  Grin

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December 19, 2011, 05:12:24 PM
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December 19, 2011, 06:48:25 PM
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I have some dim recollection of him saying something like he did his buy-in at around $2.20.

I could be totally wrong, or thinking of a different person.  Whoever it was (if anyone) appears at present to have 'done good.'  I cannot say that I did since I had been grabbing at the falling knife for half a year now.  But the money I was putting in down in that range went farther, so break-even is coming into focus lately in spite of my relatively poor trading performance and strategy.

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December 19, 2011, 07:53:36 PM
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I have some dim recollection of him saying something like he did his buy-in at around $2.20.

I could be totally wrong, or thinking of a different person.  Whoever it was (if anyone) appears at present to have 'done good.'  I cannot say that I did since I had been grabbing at the falling knife for half a year now.  But the money I was putting in down in that range went farther, so break-even is coming into focus lately in spite of my relatively poor trading performance and strategy.


no, do not give him credit for that kinda foresight.  he said multiple times that Bitcoin was headed to the dustbin of history.
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December 19, 2011, 08:25:17 PM
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Naysayers always speak loud when things go the way they see it, when it does the opposite, they become all quiet. Wonder how it could be.. Smiley
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December 19, 2011, 09:04:10 PM
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I have some dim recollection of him saying something like he did his buy-in at around $2.20.  I could be totally wrong, or thinking of a different person...


no, do not give him credit for that kinda foresight.  he said multiple times that Bitcoin was headed to the dustbin of history.


Of course he 'said' that.  It means nothing.

I personally am a greedy SOB who wants as many BTC as I can get for as cheap as I can get them.  If I were 1) not troubled by being dishonest, and 2) vain enough to think I could make a difference, I would have been sowing FUD at double speed...prior to when I bought in of course.


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December 20, 2011, 04:49:36 AM
 #11

Poor Nagle! Sad

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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December 20, 2011, 04:50:22 AM
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Poor Nagle! Sad

Must've died from a heart attack just like Kim Jong Il

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December 20, 2011, 04:53:35 AM
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lonelyminer (Peter Šurda)
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December 20, 2011, 09:54:55 AM
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Nagle made some interesting points (e.g. about SEC, GLBSE) and I think these have merit. But he still does not understand what Bitcoin actually is, he's comparing it to stocks, which can lead to misleading conclusions. But I don't blame him, understanding the consequences of Bitcoin is very complicated, I have been researching it for about half a year and find out something new almost every day.

On the other hand, Bitcoin may still yet fail, however it wouldn't be for the reasons typically presented by Bitcoin detractors.

Let me quote one of my favourites:
Quote from: Murray N. Rothbard
It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.
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December 20, 2011, 10:25:07 AM
 #15

Poor Nagle! Sad

Must've died from a heart attack just like Kim Jong Il


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December 23, 2011, 09:59:48 PM
 #16

Seriously, how come he’s been so quiet now?

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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December 23, 2011, 10:37:40 PM
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Seriously, how come he’s been so quiet now?

because he's wrong.
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December 23, 2011, 10:37:58 PM
 #18

Seriously, how come he’s been so quiet now?
He payed for his internet connection with fully leveraged shorts on bitcoinica.

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December 23, 2011, 10:49:40 PM
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Seriously, how come he’s been so quiet now?
He payed for his internet connection with fully leveraged shorts on bitcoinica.

No, I think he lost his internet connection after being liquidated in the last ramp.
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December 23, 2011, 10:50:23 PM
 #20

I came to this thread specifically because of the title.  If we collectively consider him an anti-hero we could imortalise him with his own named chart - the "Nagle-chart".  I don't know what it looks like yet, but it shows doom and disaster just before being proven wrong.
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