Bitcoin Forum
November 22, 2017, 07:21:50 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Poll
Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
1.  yes
2.  no

Pages: « 1 ... 612 613 614 615 616 617 618 619 620 621 622 623 624 625 626 627 628 629 630 631 632 633 634 635 636 637 638 639 640 641 642 643 644 645 646 647 648 649 650 651 652 653 654 655 656 657 658 659 660 661 [662] 663 664 665 666 667 668 669 670 671 672 673 674 675 676 677 678 679 680 681 682 683 684 685 686 687 688 689 690 691 692 693 694 695 696 697 698 699 700 701 702 703 704 705 706 707 708 709 710 711 712 ... 1558 »
  Print  
Author Topic: Gold collapsing. Bitcoin UP.  (Read 2011205 times)
blaaaaacksuit
Sr. Member
****
Offline Offline

Activity: 280

Who cares?


View Profile
October 04, 2014, 04:42:50 PM
 #13221

Welp...RIP BTC.  Nice knowin yall! Page 666 - very fitting.
1511335310
Hero Member
*
Offline Offline

Posts: 1511335310

View Profile Personal Message (Offline)

Ignore
1511335310
Reply with quote  #2

1511335310
Report to moderator
1511335310
Hero Member
*
Offline Offline

Posts: 1511335310

View Profile Personal Message (Offline)

Ignore
1511335310
Reply with quote  #2

1511335310
Report to moderator
Join ICO Now Coinlancer is Disrupting the Freelance marketplace!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511335310
Hero Member
*
Offline Offline

Posts: 1511335310

View Profile Personal Message (Offline)

Ignore
1511335310
Reply with quote  #2

1511335310
Report to moderator
1511335310
Hero Member
*
Offline Offline

Posts: 1511335310

View Profile Personal Message (Offline)

Ignore
1511335310
Reply with quote  #2

1511335310
Report to moderator
Adrian-x
Legendary
*
Offline Offline

Activity: 1372



View Profile
October 04, 2014, 05:01:40 PM
 #13222

Who says more numerous hands either? If prices are allowed to decline, then that is because of less numerous hands typically. Strong hands are few, they take the liquidity from the market and allow it to surge without resistance. The distribution happens in the bubble phase and the subsequent bull trap.

Accumulation = Many Small => Few Big Players
Distribution = Few Big => Many Small players

I'm not sure of the split, but you have a point, personally I started accumulating (a new hand) during the bear market of 2011.
And oda.krell point is valid too, It fits with my experience as I sold the vast majority of my stash at a profit befor the April growth spurt. (I didn't see the potential 1000% growth I was exposed too) but locked in profit for safety.

The bottom line is there are lots of investment strategies and there is growth potential on the up and down.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
Melbustus
Legendary
*
Offline Offline

Activity: 1638



View Profile
October 04, 2014, 05:14:59 PM
 #13223

Who says more numerous hands either? If prices are allowed to decline, then that is because of less numerous hands typically. Strong hands are few, they take the liquidity from the market and allow it to surge without resistance. The distribution happens in the bubble phase and the subsequent bull trap.

Accumulation = Many Small => Few Big Players
Distribution = Few Big => Many Small players

I'm not sure of the split, but you have a point, personally I started accumulating (a new hand) during the bear market of 2011.
And oda.krell point is valid too, It fits with my experience as I sold the vast majority of my stash at a profit befor the April growth spurt. (I didn't see the potential 1000% growth I was exposed too) but locked in profit for safety.

The bottom line is there are lots of investment strategies and there is growth potential on the up and down.


Yeah, likewise - I discovered bitcoin shortly before the 2011 run-up, and intentionally sat back and watched it happen without buying. I was new to the whole thing, and wanted to see how it played out before buying (ie, how far the market took the price, what happened after a crash/correction, etc). When price rebounded and stabilized after the Gox hack, I considered that fundamental strength in the ecosystem and support by those involved, which gave me the confidence to jump in a little.

As I subsequently learned more and more about bitcoin (and studied money in general) in the 2nd half of 2011, I was happy to keep making small purchases as the price continued to drop, since my education, and therefore confidence level in bitcoin as a tech/concept/money/asset just kept rising.

I imagine that once we find a bottom and stabilize, we'll see newcomers with similar approaches take positions for the first time. I don't think the more prudent/thoughtful investors (who probably have the most wealth in general) trip over the themselves to jump in during *either* a rapidly rising or rapidly falling market.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
Cryptoasset rankings and metrics for investors: http://onchainfx.com
Peter R
Legendary
*
Offline Offline

Activity: 1064



View Profile
October 04, 2014, 07:49:17 PM
 #13224

Good day my friends.  The problem with this crash is that it still hasn't shaken my optimism.  Perhaps that means we're going lower. 

Riffing on what Adrian and Melbustus said, my entry into bitcoin was similar although one growth-spurt later.  I bought my first coin at $49 in March 2013 after reading Satoshi's white paper and realizing the brilliance of this innovation.  I have a mathematical/science background, but had been an armchair economist and hard-money enthusiast for years, so the combination of math, technology, and a new better form of money was highly appealing to me.  For two weeks I didn't do any work, instead reading everything I could on bitcoin. 

I did the calculation that probably many of you did, projecting the potential market-cap of bitcoin, and concluded that its value was mid 4-figures simply as a hedge that it might succeed.  I couldn't build a position fast enough as the price climbed in late March and early April, I still didn't know if I was securing my coins properly, and I half-suspected cavirtex to be a scam (which it's clearly not).  I felt that I must have discovered this great new thing at the same time as the entire world.

The crash of April 2013 turned out to be a very good thing in hindsight.  I continued to build a position over the summer--fairly disinterested in the price and only paying peripheral attention to this forum.  I probably only checked the price every second day Wink at that point in time.  During the dip in July back to $60, I began to think that bitcoin might fade away but I continued to dollar-cost average in anyways.  It was the recovery from the July dip, and the strength through August and September that really made me confident. It's hard to explain it, but something changed inside my head and I knew that bitcoin was legitimate.  I actually made my largest purchases at a price significantly higher than the July 2013 low, six months after my first bitcoin purchase.

So, I suspect there's a new cohort of people very similar to me who've discovered bitcoin during the November 2013 growth spurt.  They're most certainly underwater (like I was), but I also suspect they hold less coins than they'd prefer and are are probably tepidly purchasing right now, uncertain about what the future holds.  Should we stabilize and rebound higher, and stay there for a while, the confidence of many new users will be rebuilt (who might also be at a small gain at that time).  If another growth spurt emerges, I think it will be catalyzed by additional purchases from this cohort of users who actually learned about bitcoin during the November media blitz.     




Run Bitcoin Unlimited (www.bitcoinunlimited.info)
Melbustus
Legendary
*
Offline Offline

Activity: 1638



View Profile
October 04, 2014, 08:11:15 PM
 #13225

Good day my friends.  The problem with this crash is that it still hasn't shaken my optimism.  Perhaps that means we're going lower. 

Riffing on what Adrian and Melbustus said, my entry into bitcoin was similar although one growth-spurt later.  I bought my first coin at $49 in March 2013 after reading Satoshi's white paper and realizing the brilliance of this innovation.  I have a mathematical/science background, but had been an armchair economist and hard-money enthusiast for years, so the combination of math, technology, and a new better form of money was highly appealing to me.  For two weeks I didn't do any work, instead reading everything I could on bitcoin. 

I did the calculation that probably many of you did, projecting the potential market-cap of bitcoin, and concluded that its value was mid 4-figures simply as a hedge that it might succeed.  I couldn't build a position fast enough as the price climbed in late March and early April, I still didn't know if I was securing my coins properly, and I half-suspected cavirtex to be a scam (which it's clearly not).  I felt that I must have discovered this great new thing at the same time as the entire world.

The crash of April 2013 turned out to be a very good thing in hindsight.  I continued to build a position over the summer--fairly disinterested in the price and only paying peripheral attention to this forum.  I probably only checked the price every second day Wink at that point in time.  During the dip in July back to $60, I began to think that bitcoin might fade away but I continued to dollar-cost average in anyways.  It was the recovery from the July dip, and the strength through August and September that really made me confident. It's hard to explain it, but something changed inside my head and I knew that bitcoin was legitimate.  I actually made my largest purchases at a price significantly higher than the July 2013 low, six months after my first bitcoin purchase.

So, I suspect there's a new cohort of people very similar to me who've discovered bitcoin during the November 2013 growth spurt.  They're most certainly underwater (like I was), but I also suspect they hold less coins than they'd prefer and are are probably tepidly purchasing right now, uncertain about what the future holds.  Should we stabilize and rebound higher, and stay there for a while, the confidence of many new users will be rebuilt (who might also be at a small gain at that time).  If another growth spurt emerges, I think it will be catalyzed by additional purchases from this cohort of users who actually learned about bitcoin during the November media blitz.     



Indeed. I suppose it makes sense that people need to *experience* a crash, stabilization, and subsequent re-escalation in order to be convinced of permanence/resilience. For most people, it's one thing to look at charts from years past and intellectually acknowledge it, and entirely another to experience it.

Right now we have a lot of people who think bitcoin might go away, despite the past evidence that these sorts of drops are status-quo for this asset-class. When it doesn't go away, they'll take another, far deeper look.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
Cryptoasset rankings and metrics for investors: http://onchainfx.com
NotLambchop
Sr. Member
****
Offline Offline

Activity: 378


View Profile
October 04, 2014, 08:31:56 PM
 #13226

BlindMayorBitcorn
Legendary
*
Offline Offline

Activity: 1064



View Profile
October 04, 2014, 09:23:51 PM
 #13227



Deleting posts. So evil Grin

Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
ssmc2
Legendary
*
Offline Offline

Activity: 1092


View Profile
October 04, 2014, 09:26:36 PM
 #13228

Who deleted it?
BlindMayorBitcorn
Legendary
*
Offline Offline

Activity: 1064



View Profile
October 04, 2014, 09:41:31 PM
 #13229

Maybe the moderator is a Mormon. My apologies I'm sure. Peace be unto you brother

Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
October 04, 2014, 09:55:40 PM
 #13230



Yawn
NotLambchop
Sr. Member
****
Offline Offline

Activity: 378


View Profile
October 04, 2014, 10:08:19 PM
 #13231

^
Sorta.  Had a few luls.  Your thread topic always gives me a giggle, but today...  Today was special.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
October 04, 2014, 11:23:02 PM
 #13232

^
Sorta.  Had a few luls.  Your thread topic always gives me a giggle, but today...  Today was special.

the whole equation has been special.  especially to the USD.
av123
Member
**
Offline Offline

Activity: 106


View Profile
October 05, 2014, 12:31:33 AM
 #13233

New article from Paul Krugman titled "The Long Cryptocon"

http://krugman.blogs.nytimes.com/2014/10/04/the-long-cryptocon/?module=BlogPost-Title&version=Blog%20Main&contentCollection=Opinion&action=Click&pgtype=Blogs&region=Body

He has no agenda of course...
inca
Legendary
*
Offline Offline

Activity: 1162


View Profile
October 05, 2014, 12:55:41 AM
 #13234


Roubini will be at it next. That quote about scientific breakthroughs not being agreed upon by the chief thinkers and scientists of the day but outliving them instead seems appropriate. It is the youth who will make cryptocurrency a part of global economy, not the old guard seeing the light.

Or perhaps even more appropriate from Upton Sinclair, "It is difficult to get a man to understand something, when his salary depends upon his not understanding it!".
NotLambchop
Sr. Member
****
Offline Offline

Activity: 378


View Profile
October 05, 2014, 12:10:29 PM
 #13235

^
Sorta.  Had a few luls.  Your thread topic always gives me a giggle, but today...  Today was special.

the whole equation has been special.  especially to the USD.

Mornin', cypherdoc!  How's it goin'?
InYourFace
Newbie
*
Offline Offline

Activity: 27


View Profile
October 05, 2014, 01:27:12 PM
 #13236


Mornin', cypherdoc!  How's it goin'?

lol  Grin 

I was also visiting this thread to see how the permabull will twist and twirl Wink
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
October 05, 2014, 01:41:46 PM
 #13237

^
Sorta.  Had a few luls.  Your thread topic always gives me a giggle, but today...  Today was special.

the whole equation has been special.  especially to the USD.

Mornin', cypherdoc!  How's it goin'?

LOL!  you trolls think you're so smart.

It's going great. All you're providing for me is cheap coins. Keep 'em coming!
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
October 05, 2014, 01:46:50 PM
 #13238


Mornin', cypherdoc!  How's it goin'?

lol  Grin 

I was also visiting this thread to see how the permabull will twist and twirl Wink

You guys have to try harder. This temporary pullback is nothing compared to this one:
https://bitcointalk.org/index.php?topic=48850.0

Can you imagine the pressure back then after 32 to 1.98? And I was the only one fighting off bears like you. Lol!

This is one big yawn. 
NotLambchop
Sr. Member
****
Offline Offline

Activity: 378


View Profile
October 05, 2014, 01:55:32 PM
 #13239

^
Sorta.  Had a few luls.  Your thread topic always gives me a giggle, but today...  Today was special.

the whole equation has been special.  especially to the USD.

Mornin', cypherdoc!  How's it goin'?

LOL!  you trolls think you're so smart.

It's going great. All you're providing for me is cheap coins. Keep 'em coming!

Wish I could, cypherdoc, wish I could.  Only a few left, keeping those.
Novelty value and all...

But hey, do keep buying.  Without folks like you, my coin'd be worthless Smiley
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
October 05, 2014, 02:04:09 PM
 #13240

Mylambchop, you have to keep them coming!

Many USD are lining up to take your BTC, as you can clearly see from those huge bid walls. I might actually be inside one of those! come get me!
Pages: « 1 ... 612 613 614 615 616 617 618 619 620 621 622 623 624 625 626 627 628 629 630 631 632 633 634 635 636 637 638 639 640 641 642 643 644 645 646 647 648 649 650 651 652 653 654 655 656 657 658 659 660 661 [662] 663 664 665 666 667 668 669 670 671 672 673 674 675 676 677 678 679 680 681 682 683 684 685 686 687 688 689 690 691 692 693 694 695 696 697 698 699 700 701 702 703 704 705 706 707 708 709 710 711 712 ... 1558 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!