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Author Topic: Bitcoin slowly dying out?  (Read 8183 times)
podyx
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October 04, 2014, 10:00:06 AM
 #1

Something about this bearmarket just seems terribly off to me.

I would never believe the person who said we'd be at $350 at this time back in the beginning of 2014.
If bitcoin were to ever fail, now would be the time, not when we have rallied and peaked at $5k+.

I know there's a saying who goes that we should buy when there's blood on the street but there really isn't blood on the street. Just an asset dropping price and nobody willing to buy. We're hitting record average lows even with all this "hype" and good news.
I really can't see bitcoin come back "harder then ever" which is what we need...

Also Stupid trolls like falllling and co. have been right all along while smart people have been wrong. Something is off.
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Dalmar
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October 04, 2014, 10:03:20 AM
 #2

No, it's not. This is quite normal market behavior:



I would only worry if bitcoin drops below $85 (wave 4 low and max target of C).

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hyphymikey
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October 04, 2014, 10:12:31 AM
 #3

This thread is a drop of blood in the street. Just one more drop along with many other posters who have lost faith.
podyx
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October 04, 2014, 10:19:19 AM
 #4

This thread is a drop of blood in the street. Just one more drop along with many other posters who have lost faith.

Believe me, i'm a buyer

I am considering taking huge loans at $280
It's just that i'll be incredibly fucked if it goes wrong

But you seem to have it all figured out. Maybe you can tell me if bitcoin were to EVER fail, when would it happen? Would we revisit the ATH ($1200) before we go down to $0-$10 again??
Will it be a long slide down and bitcoin just fading out with no bull traps?? Or will it be a bumpy ride going up a couple hundred dollars, down and up again till it finally dies out maybe some time in 2016?

You seem to imply bitcoin has a 100% chance of suceeding (If technical fails and broken protocol would never occur that is)

Btw, that bitcoin will die out seems highly unrealistic for me too
zeroday
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October 04, 2014, 10:20:46 AM
 #5

This thread is a drop of blood in the street. Just one more drop along with many other posters who have lost faith.

I'm getting ready and uploading more fiat to my stamp account Smiley

podyx
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October 04, 2014, 10:24:03 AM
 #6

If I take loans and invest 'em and this goes right, then geez... I would make alot of fuckin money (Prices are so ridicolously cheap right now)

I can't imagine going from a broke retard to dollar millionaire in less then a month (the time it would take for a bubble to pop)
Wandererfromthenorth
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October 04, 2014, 10:25:09 AM
 #7

This thread is a drop of blood in the street. Just one more drop along with many other posters who have lost faith.

Believe me, i'm a buyer

I am considering taking huge loans at $280
It's just that i'll be incredibly fucked if it goes wrong
Don't, just don't.

Close your eyes and picture yourself in financial ruin for a second (a very possible scenario considering the state of BTC market right now if you buy with those loans).
You don't want to go there.
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October 04, 2014, 10:25:28 AM
 #8

If I take loans and invest 'em and this goes right, then geez... I would make alot of fuckin money (Prices are so ridicolously cheap right now)

Why won't you buy now? This is not cheap enough?  Huh

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Wandererfromthenorth
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October 04, 2014, 10:26:00 AM
 #9

If I take loans and invest 'em and this goes right, then geez... I would make alot of fuckin money (Prices are so ridicolously cheap right now)
This is the thought pattern of a pathological gambler. Stop right there sir, I'm serious.
podyx
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October 04, 2014, 10:27:45 AM
 #10

Well huge loans might be a exaggeration

I'm thinking like $20k
Wandererfromthenorth
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October 04, 2014, 10:27:57 AM
 #11

Guys, seriously, are you fucking out of your minds?

"If it goes wrong I'll go live under a bridge, but it it goes right imma be rich!"   HuhHuh


Some of you are just asking for trouble, this is not a fucking game.
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October 04, 2014, 10:30:55 AM
 #12

Also Stupid trolls like falllling and co. have been right all along while smart people have been wrong. Something is off.

Calm yourself podyx.

What is more likely, that this is a technical bear market following a 100x bull run being gamed by big players who are building large positions for the impending rise into the mainstream that half a billion dollars of VC funding, impending US regulation and an ETF about to be approved will bring. Or that in a sea of increasing adoption, rapidly growing infrastructure globally, growing merchant adoption, rising transactions and volumes bitcoin is suddenly dying and every single person on bitcointalk other than trolls, newbies who dont know better and technical bearish traders failed to get the memo.

The trolls are just sockpuppet accounts for traders who are short trying to exaggerate downward momentum by manipulating emotions and encouraging selling. A few posters state that influencing sentiment on this forum has no effect upon the price. I would say that manipulating the price and also manipulating sentiment on this forum in a coordinated fashion will exaggerate price movements. If there are only 300,000 to 1 million users with double digit holdings of bitcoin and only 50,000 btc on the exchanges setting the price then convincing a few hundred people with weak hands to sell could make quite a difference to the orderbooks. This is the most viewed and visited bitcoin forum on the internet I believe.

If you are getting emotional either partially or completely sell at a loss to reduce your anxiety, turn off the computer for three months or view this as a buying opportunity and purchase a greater % of the bitcoin network when you feel the price is bottoming.

The reason the quote about buying when blood is in the streets is true, is that human emotion at price extremes like this (and it may get more extreme) makes a normal person want to sell and run, also known as the fight or flight emotional response, when if they thought rationally they should be heavily accumulating. It is that irrational feeling that the price could literally fall to zero you must control. It is no surprise that the trolls are loudly calling for double digit bitcoins and the price falling to $1.

An interesting metric posted in the last few days is the top 100 bitcoin addresses and their balances. These real superwhales are not selling or reducing their coins, they are increasing them on this price weakness. Also bitcoin days destroyed have not spiked suggesting long term early adopter holdings are not being moved to exchanges or moved.

Few bitcoin bulls or holders would have predicted the severity of this bear market but what the features and potential of bitcoin that made it attractive at 400 - 1166 have not changed.

COI: Bitcoin long term holder.




gizmoh
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October 04, 2014, 10:32:06 AM
 #13

Podyx u've been conned by snake oil salesmen..

How Ripple Rips you: "The founders of Ripple Labs created 100 billion XRP at Ripple's inception. No more can be created according to the rules of the Ripple protocol. Of the 100 billion created, 20 billion XRP were retained by the creators, seeders, venture capital companies and other founders. The remaining 80 billion were given to Ripple Labs. Ripple Labs intends to distribute and sell 55 of that 80 billion XRP to users and strategic partners. Ripple Labs also had a giveaway of under 200 million XRP (0.002% of all XRP) via World Community Grid that was later discontinued.[29] Ripple Labs will retain the remaining 25 billion"
podyx
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October 04, 2014, 10:34:45 AM
 #14

Guys, seriously, are you fucking out of your minds?

"If it goes wrong I'll go live under a bridge, but it it goes right imma be rich!"   HuhHuh


Some of you are just asking for trouble, this is not a fucking game.

Lol Grin It's just how I do things. I either go all in or nothing
It's just my nature. I'm having a hard time having any form of balance in my life because of this
podyx
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October 04, 2014, 10:35:37 AM
 #15

Also Stupid trolls like falllling and co. have been right all along while smart people have been wrong. Something is off.

text


appreciate the post
DeadCoin
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October 04, 2014, 10:43:02 AM
 #16

This thread is a drop of blood in the street. Just one more drop along with many other posters who have lost faith.

Believe me, i'm a buyer

I am considering taking huge loans at $280
It's just that i'll be incredibly fucked if it goes wrong

But you seem to have it all figured out. Maybe you can tell me if bitcoin were to EVER fail, when would it happen? Would we revisit the ATH ($1200) before we go down to $0-$10 again??
Will it be a long slide down and bitcoin just fading out with no bull traps?? Or will it be a bumpy ride going up a couple hundred dollars, down and up again till it finally dies out maybe some time in 2016?

You seem to imply bitcoin has a 100% chance of suceeding (If technical fails and broken protocol would never occur that is)

Btw, that bitcoin will die out seems highly unrealistic for me too

Very bad idea. Taking a loan on something so speculative and uncertain is a deep stage of gambling addiction.
You should seek help.

About the other part, whatever bitcoiners think, there's just not enough people out there willing to pay $500 or $1000 for a bitcoin.
Bitcoin might not die, it might stick around and succeed as a marginal currency with price in a single or double digits, but even in 100s is enough to screw you big time.

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October 04, 2014, 10:49:04 AM
 #17

Just look at bitcoinity. We are at the turning point. What happens next will determine the fate of bitcoin.

1. Price goes up. Renewed interest in bitcoin. Mass media attention. Influx of new users brings success to all the startups.

2. Price hovers where it is today. Mass uncertainty. Some startups will die out due to lack of growth.

3. Price crashes. Hash rate plummets. Startups fail. Companies stop accepting btc. Mass panic. Suicides.

Mark this date on your calendar gentlemen: October 10th. For on the 11th we will have already headed down one of these paths.



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saddampbuh
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October 04, 2014, 10:53:57 AM
 #18

never have and will never sell my btc for fiat but i have lost faith, its all about miners dumping at whatever price they can get and no new money has come in all year, the hedgefund money we keep hearing about doesnt seem to materialise

Be radical, have principles, be absolute, be that which the bourgeoisie calls an extremist: give yourself without counting or calculating, don't accept what they call ‘the reality of life' and act in such a way that you won't be accepted by that kind of ‘life', never abandon the principle of struggle.
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October 04, 2014, 10:54:33 AM
 #19

Just look at bitcoinity. We are at the turning point. What happens next will determine the fate of bitcoin.

1. Price goes up. Renewed interest in bitcoin. Mass media attention. Influx of new users brings success to all the startups.

2. Price hovers where it is today. Mass uncertainty. Some startups will die out due to lack of growth.

3. Price crashes. Hash rate plummets. Startups fail. Companies stop accepting btc. Mass panic. Suicides.

Mark this date on your calendar gentlemen: October 10th. For on the 11th we will have already headed down one of these paths.

3.

If you hate me, you can spam me here: 19wdQNKjnATkgXvpzmSrkSYhJtuJWb8mKs
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October 04, 2014, 10:56:27 AM
 #20

Guys, seriously, are you fucking out of your minds?

"If it goes wrong I'll go live under a bridge, but it it goes right imma be rich!"   HuhHuh


Some of you are just asking for trouble, this is not a fucking game.

But going leverage short in this price area is a safe game, right? Lol

"To know death, Otto, you have to fuck life in the gallbladder"
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"These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi
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