Lets get one thing straight: there will NOT be a run-up anytime soon

[Wilhelm]

The rally won't come before 80% has become bored and no longer thinks about Bitcoin's price. That's when we hit bottom.

We will have hit bottom when failllling stops posting

[Erdogan]

This is kind of unsettling to watch.

I couldn't be a bigger proponent of Bitcoin. I talk about it constantly, I gave a speech at work (biotech) about it to a pretty large group of folks. I've bored my wife to death for hundreds of hours talking about how wonderful the whole thing is. I'm even spending most of my free time developing a Bitcoin business.

Having said all of that, there's no reason for the price to be as high as it is right now. It's rampant speculation, bots to drive the price up etc... Bitcoin might literally only be worth $20 right now. It's going to big some day in the distant future but all of this is just a giant hype cycle that will eventually subside. I do feel bad for all the folks right now dumping too much money into it because it IS going to go down quite a bit. There will be blood in the streets but then it will recover and slowly but surely hit levels we can't imagine now.  

Those ere some nice calculations and graphs.

You don't need graphs to make a statement like "there's no reason for it to be as high as it is".  If I as one of the biggest fans of Bitcoin recognizes that people have just lost their minds, I don't need a graph to illustrate that.

Also, how do you calculate stupidity? Like, Look there's tons of stupidity and then a little less and a little less. This equation shows that we can expect a lot more stupidity soon so it's going to blow up for sure!


*I'd say look at my other posts, I'm clearly not a fudster.

Not only do you need a graph, you need a graph with lines on it. And you need to talk about tulips too or you lose all credibility.

More seriously, you may be overestimating your own relative level of fanishness. Do you think you are the only one who has spent real-time months reading and studying and tinkering? Has nobody else bored their family and anyone else who will listen to tears? Have you taken a loan to buy more before we go to the moon?

Back up your claims if you can. Or don't. I don't mind.

Hmmm my eye spy a run of the mill perma bull.

[oda.krell]

[snip]

It's sort of heady, but consider how a computer does math. It's a series of and/or gates. That's abstracted up to machine code, that's further abstracted to assembly, that's further abstracted to low level langauges like C, that's further abstracted to higher level languages like c# that's further abstracted up to things like SQL Databases. There are just too many layes of abstraction for anyone to guarantee anything. <- big period!

With NXT it was a double spend attack, too many details to go into here but one guy was able to spend money from account he didn't own.

Chiming in to say I get your point: you don't have evidence of a particular vulnerability, but experience shows that on a project this scale, some - possibly catastrophic - vulnerabilities are very much to be expected.

Case in point: If you would have suggested two years ago that a major exploit exists that allows an attacker to potentially read out plaintext password information in a widely used - widely used in financially sensitive applications, that is - open source SSL implementation, most here would have sneered at the idea. Yet, that's exactly what happened, and we're somewhat lucky how it was discovered (and fixed), with little damage, as far as I can tell.

[Sevvero]

The last rally was set by chinese investors. When china banned btc last year, it started the btc decline that has lasted a year. There won't magically be another rally out of nowhere just because there has passed 1 year. Like most of you deluded people think; "it's been a year soon since the first big crash, surely a new rally is around the corner". NO. Unless China drops all BANS on BTC, BTC will stay in the shadow of its former glory. And the other altcoins are pretty much dead with absolutely no chance of resurrection.

Yes, I admit I invested around a little less than 7Kdollars and basically lost it all but it doesn't really affect my conclusion

I agree to you. China did cause the rally and altcoins are shit. Still in long term there can be many other reasons for BTC to grow.

[Sevvero]

This is kind of unsettling to watch.

I couldn't be a bigger proponent of Bitcoin. I talk about it constantly, I gave a speech at work (biotech) about it to a pretty large group of folks. I've bored my wife to death for hundreds of hours talking about how wonderful the whole thing is. I'm even spending most of my free time developing a Bitcoin business.

Having said all of that, there's no reason for the price to be as high as it is right now. It's rampant speculation, bots to drive the price up etc... Bitcoin might literally only be worth $20 right now. It's going to big some day in the distant future but all of this is just a giant hype cycle that will eventually subside. I do feel bad for all the folks right now dumping too much money into it because it IS going to go down quite a bit. There will be blood in the streets but then it will recover and slowly but surely hit levels we can't imagine now.  

Those ere some nice calculations and graphs.

You don't need graphs to make a statement like "there's no reason for it to be as high as it is".  If I as one of the biggest fans of Bitcoin recognizes that people have just lost their minds, I don't need a graph to illustrate that.

You LITERALLY (not figuratively) NEED a Graph and EXACT DETAILED CALCULATIONS, which make you come to that conclusion. It means NOTHING that you are a fan and claim that. That's not technical anaylsis, good job at making you look like a debil.

[minerpumpkin]

It has become a bottom-fishing, really! The last rally or bubble, or whatever you want to call it, has proven to have failed. So now everyone's panicking and asking themselves where we're headed. At some point we'll have final capitulation and the real bottom will become apparent. Then we can go up again.

[staaaagnating]

Yeah, no way we're going up anytime soon! But we won't go down either, though! We will effectively stay at this level, that's certain!

[jjacob]

It has become a bottom-fishing, really! The last rally or bubble, or whatever you want to call it, has proven to have failed. So now everyone's panicking and asking themselves where we're headed. At some point we'll have final capitulation and the real bottom will become apparent. Then we can go up again.

Good for newbies who have just discovered bitcoin. 

[riiiising]

It has become a bottom-fishing, really! The last rally or bubble, or whatever you want to call it, has proven to have failed. So now everyone's panicking and asking themselves where we're headed. At some point we'll have final capitulation and the real bottom will become apparent. Then we can go up again.

Good for newbies who have just discovered bitcoin.  

Well, in some way it is. The lower we are, the more likely it is that people buying into Bitcoin just now are not facing severe losses if they really just go and hold their coins! But they, too, have to go through all those dangerous loops and price swings we've gone before and they will be shaken by the market like everyone else! But once we have reached this point, we will rise again!!! To new ATHs!

[minerpumpkin]

It has become a bottom-fishing, really! The last rally or bubble, or whatever you want to call it, has proven to have failed. So now everyone's panicking and asking themselves where we're headed. At some point we'll have final capitulation and the real bottom will become apparent. Then we can go up again.

Good for newbies who have just discovered bitcoin.  

Well, in some way it is. The lower we are, the more likely it is that people buying into Bitcoin just now are not facing severe losses if they really just go and hold their coins! But they, too, have to go through all those dangerous loops and price swings we've gone before and they will be shaken by the market like everyone else! But once we have reached this point, we will rise again!!! To new ATHs!

Yeah, they may be better off, but I have to disagree a tad: It's not certain at all that we will go up again at all, and on the other hand it's not certain they will experience the same swings we have experienced. It may be, but nothing's for certain. But I'm optimistic, as well

[Bit_Happy]

A huge Bitcoin Rally is forming (slowly) and it will happen "soon" enough.  

[sx100]

A huge Bitcoin Rally is forming (slowly) and it will happen "soon" enough.  

How soon?

[minerpumpkin]

A huge Bitcoin Rally is forming (slowly) and it will happen "soon" enough.  

Quoting you But yeah, you may want to provide some more information and reasons why you believe this to be the case But wait, that's not how things are done around here at the moment it seems, you're right!

[falllling]

A huge Bitcoin Rally is forming (slowly) and it will happen "soon" enough.  

How soon?

he is telling you that GABI fund will start buying lots of bitcoins at 9 am 01/09

[minerpumpkin]

A huge Bitcoin Rally is forming (slowly) and it will happen "soon" enough.  

How soon?

he is telling you that GABI fund will start buying lots of bitcoins at 9 am 01/09

Wouldn't it be awesome if they did? I don't believe it either, but just for the fun of it, what would you be willing to bet if they indeed did buy huge amounts of BTC then? This could be a fun bet

[dropt]

A huge Bitcoin Rally is forming (slowly) and it will happen "soon" enough.  

How soon?

he is telling you that GABI fund will start buying lots of bitcoins at 9 am 01/09

Wouldn't it be awesome if they did? I don't believe it either, but just for the fun of it, what would you be willing to bet if they indeed did buy huge amounts of BTC then? This could be a fun bet

Well if they do start on 9/1 they're probably going to buy otc, so you will prob not see anything on the exchanges

[pringbit]

Probably we will reach $450 and then rebound to $500 before rising again.

[sx100]

A huge Bitcoin Rally is forming (slowly) and it will happen "soon" enough.  

How soon?

he is telling you that GABI fund will start buying lots of bitcoins at 9 am 01/09

Wouldn't it be awesome if they did? I don't believe it either, but just for the fun of it, what would you be willing to bet if they indeed did buy huge amounts of BTC then? This could be a fun bet

Well if they do start on 9/1 they're probably going to buy otc, so you will prob not see anything on the exchanges

Won't they need to get loads of money first, before they start buying bitcoins?

[Ibian]

A huge Bitcoin Rally is forming (slowly) and it will happen "soon" enough.  

How soon?

he is telling you that GABI fund will start buying lots of bitcoins at 9 am 01/09

Wouldn't it be awesome if they did? I don't believe it either, but just for the fun of it, what would you be willing to bet if they indeed did buy huge amounts of BTC then? This could be a fun bet

Well if they do start on 9/1 they're probably going to buy otc, so you will prob not see anything on the exchanges

Won't they need to get loads of money first, before they start buying bitcoins?

That's what they have been doing for this past month.

[dropt]

Won't they need to get loads of money first, before they start buying bitcoins?

That's what they have been doing for this past month.

Most likely this.  The fund opened a month ago, but doesn't start trading until Tuesday afaik.