How did we let this happen?

[crunchynut]

[MarketNeutral]

Ah, when I see posts like these it makes me even more confident that it's very near time to be buying like crazy.

John Templeton - Principle of Maxim Pessimism

Was going to post the same thing.

Wizard.

[Bramburel]

OP is clearly a troll. Although news on CNN with "experts" are making the same points. So are those knowitall news anchors with their experts trolls too? Or they are just ignorant?

[molecular]

I feel bad for all the people who got victimized and i think some effort should be made to put the creators of this bubble behind bars, too many have been victimized to let this slide.

Lol, dude. How about putting the banking cartel behind bars who hurt pretty much everyone with their stupid inflation.

[ChuckBuck]

OP is clearly a troll. Although news on CNN with "experts" are making the same points. So are those knowitall news anchors with their experts trolls too? Or they are just ignorant?

If you're on Bitcointalk, you should know the answer to this already.

I'll give you a hint, it's the opposite of knowledgeable.    

[~Coinseeker~]

OP is clearly a troll. Although news on CNN with "experts" are making the same points. So are those knowitall news anchors with their experts trolls too? Or they are just ignorant?

From what I've seen from the media, they may make mistakes like assuming "Gox is Bitcoin" but from an economics standpoint, most of the ones I've heard speak about Bitcoin, are far more knowledgeable than most people on this forum.  Seems if you watch a couple of conspiracy theory videos on the Federal reserve and shout "to the moon", you're some how an expert in currency, monetary systems and economics.  

They also have the advantage of not living in a Bitcoin "bubble", where anything contradictory to the zealot rantings, is merely dismissed as hating or ignorance.  Bitcoin is not rocket science and many of the critiques about Bitcoin are extremely valid.  Bitcoin still has a lot to prove.  There is nothing guaranteed about a digital, deflationary currency's prospects of success.

[bitcoiner49er]

Is bitcoin value (not necessarily price, although many seem to use that) higher or lower than when it began? Has the average value continually increased? Are there more people/businesses using bitcoin?
/end thread

[ChuckBuck]

Is bitcoin value (not necessarily price, although many seem to use that) higher or lower than when it began? Has the average value continually increased? Are there more people/businesses using bitcoin?
/end thread

You would've thought the CEO of BitCom offed himself, Gox stole all the Dogecoins, and Karpales took a dump in the ocean with all these reactionary sheep.

Think for yourselves for once, don't believe everything that comes out of media, government, and financial institutions as complete truths.

Remember these so called people in charge bailed out those corrupt bastards on Wall St.

These so called people in charge have a trillion dollar deficit, and basically your kids kids are screwed royally.  Retirement at 80 baby!

Not saying to break any laws, but do some research for yourself, and don't believe the talking heads on the TV screen.

Warren Buffett, hahaha.  Great Billionaire investor, doesn't even know how to use a PC.  Even the great dinosaurs went extinct...

[Drtrix]

I've always found it comical that people try to compare Bitcoin to the internet.  The key difference between the two is, the internet is immensely useful.  Bitcoin, not so much.  Kind of a one trick pony in comparison.  Please stop, you just sound ridiculous.  

How old are you kid? Did you know that 10 years ago your Facebook, Skype or Twitter didn't exist? Did you know that most of us refused to change to Google cos Altavista was number 1 search engine? lol Did you know that 15 years ago the Internet was basically this?

http://inetstudent1.francistuttle.com/dk0871558/lessons/itf/internet_timeline/images/usenet.gif

I can say I am 40+ and have been around since 2400 baud modems and 15 years ago which would have been 1999 the internet was NOT "basically this" as you say, as a matter of fact the Internet was graphical in late 1994 and maybe 1993 from what I recall...Win 3.1 was out and I had sites I was designing from 1994-1999 using basically text until tools came along...their was no WYSIWYG tools for making websites and everything was coded and took time.

Sites may not have been flashy or anything but their was alot of animations and <blink> tags being used and "Web Rings" but in no way was the internet all command line based and that my friend was more like 1993 and before so perhaps you need to do some research before commenting that because you do not have your facts straight, you are correct that Skype, Twitter and Facebook didn't exist however even in 1994 CU-See-me existed for videoconferencing and reflectors were all over and I know for fact because I was there...not sure where you were?

Any doubts about video conferencing before 1999 when you claim everything was command line? https://en.wikipedia.org/wiki/CU-SeeMe

Any doubts the Internet was not graphical before 1999? https://web.archive.org/

As for Altavista, your right it was the #1 search engine back then BUT it came out in 1995 and guess what? It wasn't command line based at all and could be used through the Netscape browser and better yet heres a list of browser release dates and by 1999 IE the shit browser was already at V5.0 https://en.wikipedia.org/wiki/List_of_web_browsers

Its one thing to comment on another's knowledge of the Internet and how things were "back when I was young" but make sure you have your facts straight because others have indeed been using the Internet since before it was graphical and did use Usenet and BBS' and it was way before 1999 or before your 15 years ago when you claim the "Internet was basically this"....it basically wasn't like that and I know for fact as I was designing sites before 1999, doing video chats using Cu-see-me and using IRC clients well before 1999 and not through command prompt.

I recall using modems in the 80's using a phone placed on a cradle basically like you see in the movie "War Games" to login to BBS' so my knowledge of the Internet and time frames is clear and what I know about 1999 and what you know is quite different, I have receipts showing me paying over $10k per month for bandwidth to host a pay site with over 10000 members and if you doubt that I can provide evidence to any mod here :-)

Oh, and the people visiting my site in 1999 were not using command line or dial up, site back then ran UBB forums and around 2000-2001 switched to Vbulletin and the server at the time if I recall were running 800 MHz dual processors with maybe 256 or 512 mb of ram and commercial servers like that would cost 7-10k at the end of the 90's ;-)

My version of 1999 seems quite a bit different that your mention of it being like Usenet, you need to study this all a bit more next time.

Also note by 1999 Usenet could easily be used with multiple clients that had a gui, command line would have been a waste of time for downloading series or rar's or par's etc...why bother when graphical clients existed.

[romang]

Now that the bubble is finally starting to collapse rapidly, i was pondering how we let this all happen...
What are the results of this 'experiment'/scam?
- A hand full of teens who are now multi millionaires.
- A whole lot of people that lost a whole lot of real money.

Even though we all got warned time and time again, by economists, professors and even a lot of libertarians, not to fall for the bitcoin.
How on earth was it possible that people spend $1200!!!! on literary NOTHING?! Is this pure greed or stupidity? What is going on here?

I feel bad for all the people who got victimized and i think some effort should be made to put the creators of this bubble behind bars, too many have been victimized to let this slide.

china is the bubble not bitcoin.

[jonald_fyookball]

Now that the bubble is finally starting to collapse rapidly, i was pondering how we let this all happen...
What are the results of this 'experiment'/scam?
- A hand full of teens who are now multi millionaires.
- A whole lot of people that lost a whole lot of real money.

Even though we all got warned time and time again, by economists, professors and even a lot of libertarians, not to fall for the bitcoin.
How on earth was it possible that people spend $1200!!!! on literary NOTHING?! Is this pure greed or stupidity? What is going on here?

I feel bad for all the people who got victimized and i think some effort should be made to put the creators of this bubble behind bars, too many have been victimized to let this slide.

china is the bubble not bitcoin.

China actually produces shit.  More like the dollar is the bubble

[chronicaust]

You kidding?

That's like saying the people who invested into the tech bubble should be compensated.

This is what happens when people buy shit that they have zero understanding of.

Yes a fool and his money are soon parted.

And it will always be that way.

[Bit_Happy]

...What is going on here?
...

Trading can be really hard.
The 2011/2012 Bear market took over a year to get moving back up again.
However, some of the (short-term) rallies were big and fast, and there was plenty of chances to make good trades.
Things will get better.

[g4c]

@OP:

The price function is behaving exactly as expected.

The graph below is plotted on a log scale, although I'm thinking that may be too difficult for you to understand  

So in short: relax, just keep sipping the kool-aid kiddo.  

[degxtra1]

Hi mate quite good graph,
would you create another one with additional data from mtgox from 2010 to Nov 2011?
This may give us much more view form beginning till today
thanks

[gitinahang]

I never understood why China dumps their bitcoins when news of bitcoins being banned hits. If China banks ban buying bitcoins with fiat doesn't that mean the bitcoins they're

holding become more valuable and therefore more reason not to dump?

[cbeast]

I never understood why China dumps their bitcoins when news of bitcoins being banned hits. If China banks ban buying bitcoins with fiat doesn't that mean the bitcoins they're

holding become more valuable and therefore more reason not to dump?

They don't have my derp coins, does that make them priceless?

[TopherB]

How much does one get PAID to write such stuff? Seriously.

Now on to the notion that anyone lost money. It is this kind of thinking that is seriously wrong with people in general these days and the OP is using this same mentality as propaganda. It's like when the housing bubble collapsed and people complained they "lost money". You only lose money when you sell. Otherwise, you need to think of it as, "I bought a house and I own 100% of that house. The value has dropped slightly but I still own 100% of that house." Housing prices are going back up and anyone who stayed in their home is now that much closer to paying off their original mortgage, which should have been the intent of every home buyer. Everyone else who bankrupted or walked away from their mortgages has to deal with the consequences now but they want to blame others for them buying something they could not afford in the first place.

Ahh, but that's it. They bought a home they could not afford but justified it by thinking the price was going to continue going up and they would be handsomely rewarded for their gamble. When it didn't work out that way, and they got to the point where they could no longer afford to make the payments, they blamed everyone else. They did the same thing with Bitcoin. These same types of people spent dollars they could not afford to lose then blamed everyone else when their gamble didn't pay off. If you bought at $1,200 and are still hodling then you likely bought them as an investment and I need to point out to you that at this point you have lost NOTHING. You still own the same number of bitcoins you had when you started. Now if everyone in the world stops using Bitcoin, then I'd say you lost money. Until then, keep calm and hodl on.

Good point about 'investors' blaming everyone else for their lack of research. On bitcoin though I notice very few complainers from bitcoin investors. Most of the complaints seem to come from those that have hated bitcoin from the get go. I suspect many of these just regret that they didn't get in when they first heard about it and so are continuing to justify their position.

The whole concept of buy low/sell high is doing just that. But 'dumb money' tends to high on the trend (high by the time they here of it) and panic on the first correction. Thus because they did not actual research they have no confidence and end up buying high and selling low. They blaming everyone else for their loses.

But if it weren't for those fool hearty (greedy and lazy) souls the rest of us would make a lot less money.

[nkocevar]

OP, just wait until a website like amazon accepts bitcoin... or something even more unbelievable like the USD failing happens. Then you'll be eating your words again.

[TopherB]

...What is going on here?
...

Trading can be really hard.
The 2011/2012 Bear market took over a year to get moving back up again.
However, some of the (short-term) rallies were big and fast, and there was plenty of chances to make good trades.
Things will get better.

Bear markets are what shorting was invented for. Research, foresight and understanding (work) is what makes the difference. The market condition itself is irrelevant.