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Author Topic: Rally!!!!!  (Read 77027 times)
Vladimir
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June 15, 2012, 07:01:38 PM
 #521

maximum pain theory in action

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jojo69
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June 15, 2012, 07:02:00 PM
 #522

holy christ

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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June 15, 2012, 07:04:44 PM
 #523

maximum pain theory in action
I have been predicting this since it was clear that Bitcoinica had no database backups. It took quite a a while, but it was destined to happen.

Edit: wow, look at my post count. Grin

"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
Vladimir
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June 15, 2012, 07:07:59 PM
 #524

maximum pain theory in action
I have been predicting this since it was clear that Bitcoinica had no database backups. It took quite a a while, but it was destined to happen.

well that was a nobrainer.

The only way to end this without a court battle is to liquidate short positions at 5$ and liquidate long position at 6$ (or whatever the market price is at the time of liquidation or announcement of liquidation). Anything else and half of your customers are going to sue you and for a good reason.

...

Now just look how some big party desire to have the price to return to 5$ to avoid legal problems will effectively ensure that Bitcoin will never ever see 5$ handle again.

Damn markets have this ugly habit of inflicting maximum possible damage. It will now probably rally just to make the matters even worse.

...



And here is another interesting question. With that lending bubble going on GLBSE, how all those who borrowed from Pirate and Ko are going to repay BTC denominated loans? Watch for mass BTC denominated loan defaults that will only further fuel the exchange rate up.





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June 15, 2012, 07:10:35 PM
 #525

maximum pain theory in action
I have been predicting this since it was clear that Bitcoinica had no database backups. It took quite a a while, but it was destined to happen.

well that was a nobrainer.

The only way to end this without a court battle is to liquidate short positions at 5$ and liquidate long position at 6$ (or whatever the market price is at the time of liquidation or announcement of liquidation). Anything else and half of your customers are going to sue you and for a good reason.

...

Now just look how some big party desire to have the price to return to 5$ to avoid legal problems will effectively ensure that Bitcoin will never ever see 5$ handle again.

Damn markets have this ugly habit of inflicting maximum possible damage. It will now probably rally just to make the matters even worse.

...




lol!  good one.
notme
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June 15, 2012, 07:10:51 PM
 #526

maximum pain theory in action
I have been predicting this since it was clear that Bitcoinica had no database backups. It took quite a a while, but it was destined to happen.

Edit: wow, look at my post count. Grin

Quick! No more posts Tongue.

https://www.bitcoin.org/bitcoin.pdf
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June 15, 2012, 07:13:30 PM
 #527

this thread makes me feel that bitcoin is kind of drug, when the rally comes, people are high here.

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June 15, 2012, 07:29:57 PM
 #528

this thread makes me feel that bitcoin is kind of drug, when the rally comes, people are high here.
Sounds like an accurate description.

@Vladimir
If it was such a no-brainer, then why did it take weeks for the price to rise? Clearly we were in the minority here. Tongue

I disagree with this lending bubble thing because my impression is that the large borrowers/lenders are diversified well enough if they have exposure to pirate, so, in my view, there will be no masses of huge defaults on bitcoin loans for that reason. A few, yes, but nothing huge. It might happen because of an extreme price ramp, though. In contrary, a pirate default might actually be a short term bearish event considering how much of the BTC community seems to be invested. There would be lots of lost trust, just like with the MtGox hack.

If you look at the lending section, it will become apparent that people treat the pirate investment differently, especially when people ask if the other party has any exposure to pirate.

"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
Vladimir
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June 15, 2012, 07:31:16 PM
 #529

just watch how over next few weeks Bitcoin forms so called http://www.thestockbandit.com/cup-handle/ cup and handle pattern with handle around 7$, then explodes up to 15-20$

@Blitz­ clearly, lol

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June 15, 2012, 07:36:47 PM
 #530

just watch how over next few weeks Bitcoin forms so called http://www.thestockbandit.com/cup-handle/ cup and handle pattern with handle around 7$, then explodes up to 15-20$

@Blitz­ clearly, lol

Not that I really want bitcoin to be that explosive right now, but if you're right than all this buying I've been doing over the past few weeks, and intend to continue doing, will certainly have been worth it.
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June 15, 2012, 08:01:59 PM
 #531

just watch how over next few weeks Bitcoin forms so called http://www.thestockbandit.com/cup-handle/ cup and handle pattern with handle around 7$, then explodes up to 15-20$

@Blitz­ clearly, lol

Not that I really want bitcoin to be that explosive right now, but if you're right than all this buying I've been doing over the past few weeks, and intend to continue doing, will certainly have been worth it.

IMO, we wont "explode", we'll start to rise slower and slower, 8$ could take 2 weeks, 10$ 4 months, 14$ 1 year

but the bull run wont stop their,  with a little luck and a lot of hard work, 1 year later a slow and steady rise to 14$ will be accompanied by new innovations in the bitcoin world ( maybe bitcoincard? maybe a new game that uses bitcoin as its currency? ). Adoption hits critical mass, a new wave of buyers comes into play 14$ / BTC is now REQUIRED to satisfie the number of transactions, speculators predict that demand will only grow, and we get a speculative bubble that's Starts at 14$. The bubble hits 100$ per bitcoin (huge amounts of bitcoins are SOLD), but doesn't POP! it fucking stabilizes!  2 months later the world sees bitcoin as a safe way to store wealth, the game is over, world wide people rush to convert their savings to bitcoin, fait is dead over night, 1 year later all we know of the exchange rate is that 1 Big mac cost 0.000001btc  or 5.74BTC_v2

Cheers!  Cheesy

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June 15, 2012, 08:03:10 PM
 #532

I thought as much, I just wasn't sure, ty.

EDIT: HOLLY SHIT BATMAN WALL just appeared at $5.7 of 40k BTC

holy motherfucking shit, y'all! that's really sumth'n.

I can't tell if you are being sarcastic or not, but either way I think 40k BTC is something amazing to witness appear.

to be honest, I wasn't sure myself. I was sincerely astonished as someone obviously having $200.000 on gox. On the other hand I might've well made a sarcastic remark like that about "wall-gasping". So I figured I just leave it stand in ambiguity... it worked Wink

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notme
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June 15, 2012, 10:03:32 PM
 #533

this thread makes me feel that bitcoin is kind of drug, when the rally comes, people are high here.
Sounds like an accurate description.

@Vladimir
If it was such a no-brainer, then why did it take weeks for the price to rise? Clearly we were in the minority here. Tongue

I disagree with this lending bubble thing because my impression is that the large borrowers/lenders are diversified well enough if they have exposure to pirate, so, in my view, there will be no masses of huge defaults on bitcoin loans for that reason. A few, yes, but nothing huge. It might happen because of an extreme price ramp, though. In contrary, a pirate default might actually be a short term bearish event considering how much of the BTC community seems to be invested. There would be lots of lost trust, just like with the MtGox hack.

If you look at the lending section, it will become apparent that people treat the pirate investment differently, especially when people ask if the other party has any exposure to pirate.

Deleting old posts to stay leet are we?

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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June 15, 2012, 10:06:32 PM
 #534

If my predictions are correct $7 is now approaching FAST.
mccorvic
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June 15, 2012, 10:50:09 PM
 #535

If my predictions are correct $7 is now approaching FAST.

And if my predictions are correct we are fast approaching taco.

But seriously, please slow down my bitcoin!  We don't need the shadow of another $30 and bust to prove our detractors right.

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Vandroiy
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June 15, 2012, 10:50:29 PM
 #536

EPIC RALLY!

This is awesome. Can it really be... Bitcoin's recovery? Or is it just a second Echo Bubble?

I really don't know this time. It could be the real deal! Wheeee~!
Red Emerald
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June 15, 2012, 10:52:59 PM
 #537

Back to THIRTY!!!

proudhon
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June 15, 2012, 10:56:57 PM
 #538

Back to THIRTY!!!

Please, no.
mccorvic
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June 15, 2012, 10:59:20 PM
 #539


This this this this this.  Anyone who wants BTC at $30 or close any time this year should GTFO these forums.

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Red Emerald
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June 15, 2012, 11:01:00 PM
 #540


This this this this this.  Anyone who wants BTC at $30 or close any time this year should GTFO these forums.
Then to FIFTY!

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