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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2010285 times)
cypherdoc
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February 03, 2015, 04:22:22 AM
 #20941

the most important thing during an accumulation is to not get overextended in case of a prolonged downturn, like we've had over the last year.

i've consistently said i have no debt, have real estate, and have a self owned highly profitable business that allows me the diversification and peace of mind to not get shaken out.  this bull mkt is vicious and has already shaken off most of its original bulls including guys like tvbcof (to whatever degree he will admit).
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February 03, 2015, 04:33:24 AM
 #20942

the most important thing during an accumulation is to not get overextended in case of a prolonged downturn, like we've had over the last year.

i've consistently said i have no debt, have real estate, and have a self owned highly profitable business that allows me the diversification and peace of mind to not get shaken out.  this bull mkt is vicious and has already shaken off most of its original bulls including guys like tvbcof (to whatever degree he will admit).

Oh brother.  You're not the only one with a solid business, and you're not the only one who made a killing.  I didn't start as early as you.  Most of the people here didn't.  We had to make our nuts on a compressed time frame.  Starting back in 2011, a chimp could have become a millionaire, let alone a human.  None of this changes the fact that you've been wrong the past year, big time, just like those who bought into PMs at their pinnacle.  Keep that ego in check, cypher  Kiss
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February 03, 2015, 04:38:49 AM
 #20943

if anything, the massive attempts of clowns like traderCJ, tvbcof, and the Not* brother trolls to discredit me tells me we are still very early on in the game.  they are how you tell we are NOT in a bubble.  the bearish sentiment has become overconfident.  that combined with over a year long pullback that can't take us consistently below 200 is a very good sign for Bitcoin bulls.  this down half of this latest cycle is way overextended in duration and most likely has bottomed.  the guys who got in early like me are still way, way UP.  you'll have to take it down into single digits to make me hurt.  good luck.  i'm reminded of the NASDAQ crash down into 2002.  what came after that has been glorious.

i'm looking forward to pouring in more fiat tomorrow when my funds arrive at the exchange.
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February 03, 2015, 04:46:02 AM
 #20944

if anything, the massive attempts of clowns like traderCJ, tvbcof, and the Not* brother trolls to discredit me tells me we are still very early on in the game.  they are how you tell we are NOT in a bubble.  the bearish sentiment has become overconfident.  that combined with over a year long pullback that can't take us consistently below 200 is a very good sign for Bitcoin bulls.  this down half of this latest cycle is way overextended in duration and most likely has bottomed.  the guys who got in early like me are still way, way UP.  you'll have to take it down into single digits to make me hurt.  good luck.  i'm reminded of the NASDAQ crash down into 2002.  what came after that has been glorious.

i'm looking forward to pouring in more fiat tomorrow when my funds arrive at the exchange.

Well cypher, I think about the only thing we can agree on is that paying taxes sucks.
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February 03, 2015, 05:02:57 AM
 #20945

you need to read more closely.

i have gladly paid my taxes
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February 03, 2015, 05:05:13 AM
 #20946

the most important thing during an accumulation is to not get overextended in case of a prolonged downturn, like we've had over the last year.

i've consistently said i have no debt, have real estate, and have a self owned highly profitable business that allows me the diversification and peace of mind to not get shaken out.  this bull mkt is vicious and has already shaken off most of its original bulls including guys like tvbcof (to whatever degree he will admit).

Admit?  Hell, I practically brag about it.  I set my 10x and 100x targets that I set when I was accumulating and have made myself stick to them.  In fact I didn't call any tops.  That I sold on one was really just a personal 100x-ish target.  But I did mention what I was doing.

All throughout, even when I was buying and saying that I didn't think it was a bad idea for some folks to take a position, I have made it plainly clear that I see risks, dangers, etc and taken the efforts to describe them.  If that is mistaken for 'bear' behavior, oh well.  I personally consider it simply being responsible.  I took the time a few weeks ago to outline the strategy and thought processes I used when I was accumulating for the benefit of those who might be accumulating now (which I think is appropriate for some to do) but that in no way makes me feel like I should not be pointing out the risks I see.  Just the opposite really.


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February 03, 2015, 05:08:29 AM
 #20947

you need to read more closely.
i have gladly paid my taxes

Loosen up 79, I don't think anyone on a Libertarian leaning forum "gladly" pays their taxes.  Begrudgingly, more like it.  And that's the way it should be.
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February 03, 2015, 05:18:27 AM
 #20948

the most important thing during an accumulation is to not get overextended in case of a prolonged downturn, like we've had over the last year.

i've consistently said i have no debt, have real estate, and have a self owned highly profitable business that allows me the diversification and peace of mind to not get shaken out.  this bull mkt is vicious and has already shaken off most of its original bulls including guys like tvbcof (to whatever degree he will admit).

Oh brother.  You're not the only one with a solid business, and you're not the only one who made a killing.  I didn't start as early as you.  Most of the people here didn't.  We had to make our nuts on a compressed time frame.  Starting back in 2011, a chimp could have become a millionaire, let alone a human.  None of this changes the fact that you've been wrong the past year, big time, just like those who bought into PMs at their pinnacle.  Keep that ego in check, cypher  Kiss

+1.  Well stated.  Best not to let one's head balloon to much about this.

Cyph does have a fair point that a goodly number of early adopters did sell out to quickly.  The guy who Thermos took over the forum from (cirius I think his name was) and who was one of Satoshi's very early collaborators claims to have sold out when he could afford an apartment.  He could have bought an entire city if he had not.  Another guy got desperate and hungry and sold out only to buy back in later (~elwar I believe, and I think he is a contemporary of Cyph and me.)  At any rate, it took a lot more of something to sit on one's stash than it did to develop one in the early days.  Of course anyone could be telling tales about their legacy (of fail) and there would be good reason to do so.  But still, I'm sure that cypherdoc is right here in all to many cases.

The people who really have my respect are those like Gavin and Garzik who gave away Bitcoin as a means of jump-starting things.


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February 03, 2015, 05:35:29 AM
 #20949

Starting back in 2011, a chimp could have become a millionaire, let alone a human.

you have no idea what you're talking about, not being anywhere around here during that time.  sentiment was WAY worse and this forum was crawling with a majority of trolls.  in fact, it was so bad that i started my first 2 threads in this Spec forum in an attempt to counteract the spiral down in sentiment.

Warning: How many of you Bears have ever been a victim of a Short Squeeze?

How many of you have been Zhoutonged?

those threads are filled with bear venom.  the risk of investing back then was MUCH higher than it is now.  why?  b/c we were so much closer to zero and total failure.  when it broke below 2 to 1.98, the large final capitulatory downstroke was completed as bears and bulls alike vomited up their last units.  we're nowhere close to that after a downturn over 3x as long.
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February 03, 2015, 05:38:44 AM
 #20950

Quote
Starting back in 2011, a chimp could have become a millionaire

actually before then the IQ around this place was highest anywhere on the web ... so, no chimps and chumps have only came along later.

Just like apple and microsoft stocks, you had to have knowledge more than luck at those levels, people whining about unfairness of coin distribution are, almost by definition, stupider than your average bear.

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February 03, 2015, 05:44:45 AM
 #20951

Quote
Starting back in 2011, a chimp could have become a millionaire

actually before then the IQ around this place was highest anywhere on the web ... so, no chimps and chumps have only came along later.

Just like apple and microsoft stocks, you had to have knowledge more than luck at those levels, people whining about unfairness of coin distribution are, almost by definition, stupider than your average bear.

the discussions of 2011 were of very high quality as those were times when we were trying to figure out basically what Bitcoin is; things like the BC being a "ledger", "gold-like", suitable to replace digital examples like M-Pesa, remittances, etc.  and my favorite Bitcoin: "A Self-Contained Financial System"
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February 03, 2015, 05:55:17 AM
 #20952

...
furthermore, buying Bitcoin starting @ $1.60 has also been extremely profitable, on paper.  ...

Smoothie should be along shortly to demand notarized copies of all your financial statements.



lol yes i would love to see proof cypher.

If you have any... Tongue

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smoothie
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February 03, 2015, 05:57:10 AM
 #20953

Long term Cypher has been right...

And he is right...some of us have made a pretty penny.  Wink

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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
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HeliKopterBen
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February 03, 2015, 06:25:32 AM
 #20954

Any seasoned trader/investor knows that one of the hardest things to do is hold onto large gains.  The temptation to sell and lock in profits at much lower prices and go against your original plan is perhaps harder than buying at times like these.  Fortunately, I still have over half my original stash left... and that is after panic selling a chunk during the march 2013 fork (tradercj would have sold all), getting goxed on a chunk, cashing out a chunk earlier on in this bear market, and speculating on some alts.  I put half in cold storage and vowed to not touch it unless I absolutely had to.  It is still there.  Actually, I'm back to about 75% after being given the gift of lower prices recently.

Counterfeit:  made in imitation of something else with intent to deceive:  merriam-webster
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February 03, 2015, 07:52:52 AM
 #20955

Hey tvbcof, we're going back up.

Well hopefully people haven't been taking your advice for the past year.  Unfortunately, I'm sure some did, and they have paid dearly.  Shame on you.

except i haven't been saying buy for the entire year.

shame on you for your buy recommendations on gold and silver.  they've performed miserably since 2011 and have been flat at best for the last year.

you must be frustrated.

Cypher, you've been nothing but bullish over the course of the entire thread's life.  In fact, you admitted that this is a place for you to troll to bears.  When it comes to PMs, I never said buy (to my recollection).  I'm not a salesman, unlike you.  I called you out on being wrong on gold vs Bitcoin for an entire year.  Hell, more than a year.  And although you probably do not recall, what I said about PMs was my shift to them from Bitcoin worked in my favor.  Furthermore, I have stated many times that gold and Bitcoin solve different problems.  Comparing the two from a functional standpoint doesn't make sense.  You, on the other hand, would rather preach the ultimate dominance of Bitcoin from your pulpit.  And like I said, this I'm sure has resulted in losses from those hapless people who have taken your advice over the past year.  It is your unmitigated arrogance that I take exception to.

Considering his call was made in 2011 when bitcoin was still nothing more than a curious token that had zero infrastructure around it, then the call has been wildly successful. The fact bitcoin is off from its peak doesn't change that. Today I buy PMs and bitcoin, but PMs have done nothing since 2011 compared next to bitcoin, that is the comparison point, not the latest peak.
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February 03, 2015, 08:12:13 AM
 #20956

Quote
Starting back in 2011, a chimp could have become a millionaire

actually before then the IQ around this place was highest anywhere on the web ... so, no chimps and chumps have only came along later.

Just like apple and microsoft stocks, you had to have knowledge more than luck at those levels, people whining about unfairness of coin distribution are, almost by definition, stupider than your average bear.

There is a reason the devs left bitcointalk years ago for the promise land of listserv and GitHub. They seem to see bitcointalk as nothing but a den of thieves and scammers at this point.

I've never understood why but the chimps and chumps (as you call them) never seem to be able to figure out how to use something as simple as a malling list, and so switching over to that medium tends to leave them behind.

Its sad but over the years every decent message board or comment section I've found has eventually been taken over by the chimps and lose its value as the original community slowly bleeds out.
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February 03, 2015, 08:22:17 AM
 #20957

Quote
Starting back in 2011, a chimp could have become a millionaire

actually before then the IQ around this place was highest anywhere on the web ... so, no chimps and chumps have only came along later.

Just like apple and microsoft stocks, you had to have knowledge more than luck at those levels, people whining about unfairness of coin distribution are, almost by definition, stupider than your average bear.

There is a reason the devs left bitcointalk years ago for the promise land of listserv and GitHub. They seem to see bitcointalk as nothing but a den of thieves and scammers at this point.

I've never understood why but the chimps and chumps (as you call them) never seem to be able to figure out how to use something as simple as a malling list, and so switching over to that medium tends to leave them behind.

Its sad but over the years every decent message board or comment section I've found has eventually been taken over by the chimps and lose its value as the original community slowly bleeds out.
We might as well go back to usenet. At least you can *plonk* trolls there.
edit: I see there is a group for devs. I don't go on dev lists because I don't dev. Troll slaying is my gig.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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February 03, 2015, 10:06:26 AM
 #20958

In the throes of currency wars, priced in almost everything but USD, gold has increased markedly in the last 6 months. Check it out in Yen, Ruble, Eur, Aud, Cad. Same effect has mitigated the decline in bitcoin prices. Outside of any market string pulling (paper market in GLD, whaleclubs in btc) comparative strength of the USD has been a killer.
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February 03, 2015, 10:41:43 AM
 #20959

The people who really have my respect are those like Gavin and Garzik who gave away Bitcoin as a means of jump-starting things.

Faucets and charity (esp. the FOSS coding) are all well and good, but what about us chimp chumps who spent our early BTC on goods and services?

IMO, increasing velocity/distribution by rewarding actual use cases did more to bootstrap the crypto-economy than sprinkling about proof-of-concepts.  With only philanthropists and hoarders participating, we'd have never gotten this moon rocket off the ground!

I laugh at your overpriced Ramen!
http://bitmunchies.com/index.php?cPath=29_22

Seriously? Theres a website selling ramen noodles for btc?

Sigh, I guess spending $5 coins pretty much counts as giving them away.   Cry

 Grin


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
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February 03, 2015, 04:22:11 PM
 #20960

like i said:



i'm really liking this:



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