Why are you buying now when people will only hate you when you are rich?

[fewcoins]

If you continue chasing bitcoin riches, you will retire into a cardboard box and eat government ramen noodles!
[/quote]

Yes!!! People think they know better than the one insider who was dumping over $7mil worth of coins... That's how bad this community wants to get rich quick!

[cypherdoc]

I just find it annoying that bear trolls keep telling people to sell as if they're so concerned about other people's financial well being when they are clearly destroying newbies and those who do not understand how bitcoin works for their own selfish gain. These people could've put their life savings into bitcoin and wiping out their life savings just like that  by selling low, man that's the cruelest thing you can do to your fellow humans. I would not ask anyone to hold if they're so inclined to sell, hell it's their money not mine, but I'll try to talk sense and logic to those who would listen. Anyone who thinks buying high and selling low is actually a good idea, perhaps they really shouldn't be involved in anything financial at all and best for them to exit, rather than asking stupid questions like, 'when is bitcoin going to be $xxx' or 'should I buy or sell'. To quote Satoshi himself,

 “If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”

+1, although I do believe that people who listen to idiots do deserve it, I can see that when you are in despair and need any encouragement, even some trolls opinion on a messageboard might be enough to tip you over to making stupid decisions.

The only way that bitcoin can really grow in marketcap is in wider distribution and adoption, meaning Average Joes have to continue to exponentially buy in and hold.  And this has to continue, ad infinum, until market saturation.  This is how the exchange price increases over time.

But if the bearwhales scare away all of the Average Joes with their manipulation, and only end up buying and selling to themselves, then that is NOT distribution, it's consolidation of BTC into the hands of the very few.  And when the few are left with no more Average Joes to sell to, what happens to Bitcoin then?  The price will go nowhere, because not enough people own it, value it, and use it.  And then merchants will drop it, because no one uses it to purchase things.

well, if you watched the 30K BTC wall ingestion yesterday, you'd have seen hundreds of small buys eat the wall away; like a thousand little piranhas.  there was distribution to smaller hands.

[Torque]

I just find it annoying that bear trolls keep telling people to sell as if they're so concerned about other people's financial well being when they are clearly destroying newbies and those who do not understand how bitcoin works for their own selfish gain. These people could've put their life savings into bitcoin and wiping out their life savings just like that  by selling low, man that's the cruelest thing you can do to your fellow humans. I would not ask anyone to hold if they're so inclined to sell, hell it's their money not mine, but I'll try to talk sense and logic to those who would listen. Anyone who thinks buying high and selling low is actually a good idea, perhaps they really shouldn't be involved in anything financial at all and best for them to exit, rather than asking stupid questions like, 'when is bitcoin going to be $xxx' or 'should I buy or sell'. To quote Satoshi himself,

 “If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”

+1, although I do believe that people who listen to idiots do deserve it, I can see that when you are in despair and need any encouragement, even some trolls opinion on a messageboard might be enough to tip you over to making stupid decisions.

The only way that bitcoin can really grow in marketcap is in wider distribution and adoption, meaning Average Joes have to continue to exponentially buy in and hold.  And this has to continue, ad infinum, until market saturation.  This is how the exchange price increases over time.

But if the bearwhales scare away all of the Average Joes with their manipulation, and only end up buying and selling to themselves, then that is NOT distribution, it's consolidation of BTC into the hands of the very few.  And when the few are left with no more Average Joes to sell to, what happens to Bitcoin then?  The price will go nowhere, because not enough people own it, value it, and use it.  And then merchants will drop it, because no one uses it to purchase things.

well, if you watched the 30K BTC wall ingestion yesterday, you'd have seen hundreds of small buys eat the wall away; like a thousand little piranhas.  there was distribution to smaller hands.

Purchases in tranches of 1000's of coins at a time?  Average Joe buying?  Not likely, more like only smaller whales.  But still whales nonetheless.  Or a collusion of whales working together - one whale can also have multiple trading accounts on the same exchange, don'tcha know  

Anyone who still thinks that this market is not absolutely OWNED by the whales is just fooling themselves.  It'll take years and years of distribution for this market to stop seeing so much volatility.

[cypherdoc]

I just find it annoying that bear trolls keep telling people to sell as if they're so concerned about other people's financial well being when they are clearly destroying newbies and those who do not understand how bitcoin works for their own selfish gain. These people could've put their life savings into bitcoin and wiping out their life savings just like that  by selling low, man that's the cruelest thing you can do to your fellow humans. I would not ask anyone to hold if they're so inclined to sell, hell it's their money not mine, but I'll try to talk sense and logic to those who would listen. Anyone who thinks buying high and selling low is actually a good idea, perhaps they really shouldn't be involved in anything financial at all and best for them to exit, rather than asking stupid questions like, 'when is bitcoin going to be $xxx' or 'should I buy or sell'. To quote Satoshi himself,

 “If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”

+1, although I do believe that people who listen to idiots do deserve it, I can see that when you are in despair and need any encouragement, even some trolls opinion on a messageboard might be enough to tip you over to making stupid decisions.

The only way that bitcoin can really grow in marketcap is in wider distribution and adoption, meaning Average Joes have to continue to exponentially buy in and hold.  And this has to continue, ad infinum, until market saturation.  This is how the exchange price increases over time.

But if the bearwhales scare away all of the Average Joes with their manipulation, and only end up buying and selling to themselves, then that is NOT distribution, it's consolidation of BTC into the hands of the very few.  And when the few are left with no more Average Joes to sell to, what happens to Bitcoin then?  The price will go nowhere, because not enough people own it, value it, and use it.  And then merchants will drop it, because no one uses it to purchase things.

well, if you watched the 30K BTC wall ingestion yesterday, you'd have seen hundreds of small buys eat the wall away; like a thousand little piranhas.  there was distribution to smaller hands.

In tranches of 1000's of coins at a time?  Average Joe buying?  Not likely, more like only smaller whales.  But still whales nonetheless.  Or a collusion of whales working together - one whale can have multiple trading accounts don't cha know  

Anyone who still thinks that this market is not absolutely OWNED by the whales is just fooling themselves.  It'll take years and years of distribution for this market to stop seeing so much volatility.

no, it was being ingested by much smaller random size increments, oftentimes 0.05 BTC in size or less, with an occasional 1000BTC hit.

[nuff]

Sometimes I feel like the only person in the world that actually wants to see the people around him succeed.

I want all of my friends to make millions. It's inspiring.

99% of people want to see everyone around them fail miserably.

I hate humanity.

You want to make millions for yourself, and then you'd like to see your friends make millions as well.

And shouldn't you be saying that you'd like your friends to make a few bitcoins, since each one will be worth millions of dollars in a few years?

People get rich from hard work and wise, long term investing. Not buying a risky, digital asset, going underwater 50% or more, and then magically striking it rich a couple years later.

Very clearly you just think of bitcoin as some new-fangled digital fad akin to an up and coming website or whatever and you're a traditionalist, those who believe in paper money kept in the bank when the bank almost surely uses your money for their own investment without your knowledge but still think your money is 100% safe. When you put money into banks they own your money, not you, and can actually spend your money without your knowledge but none of you would want to believe that. Bitcoin is a way of storing your money safely (if you're not too stupid to safeguard it). The price in exchanges is irrelevant, because there is always the true value of bitcoin disregarding the manipulations that is happening now. The true value will always be how much it cost to actually mine a btc. Add that to the fact that the cost of producing btcs will only increase as difficulty goes up and that there is a fixed number of bitcoins ever to be mined, the value of btc can only ever increase over the course of time. But between now and then, there would be fluctuations although it has matured much, much more than say few years ago when you have daily fluctuations if not hourly. Still, the fundamentals of bitcoin stay, that it is deflationary in nature, and that it is the first mover. If you cannot understand what these two factors really means, then you just do not understand how cryptocurrencies work, and all I can say is, whatever floats your boat.

[Biodom]

People are always complaining that those lucky early adopters shouldn't be so rich, they don't think it's fair that they have so many bitcoins.

So now that you are buying bitcoins at such a low price, are you worried about the ridicule you will get when you buy your penthouse apartment with bitcoins and fund your next business venture completely with the bitcoins you are buying right now?

Do you feel guilty?

It is totally unclear if we are at the bottom yet, however it is possible.
Buying at 280 vs 340 makes almost no difference if you sell at $10K or even later.
For my taste, the recoveries are too fast and this is more a feature of a bear market than bull market.
Remember the 400 to $450 move and now $275 to $343 (currently).
I think that we will bottom when hashing rate growth will go to zero for a while or even decline, as it did in 2011, but I will be happy to be wrong on this one bacause my average price is higher than $340.

[Biodom]

Sometimes I feel like the only person in the world that actually wants to see the people around him succeed.

I want all of my friends to make millions. It's inspiring.

99% of people want to see everyone around them fail miserably.

I hate humanity.

You want to make millions for yourself, and then you'd like to see your friends make millions as well.

And shouldn't you be saying that you'd like your friends to make a few bitcoins, since each one will be worth millions of dollars in a few years?

People get rich from hard work and wise, long term investing. Not buying a risky, digital asset, going underwater 50% or more, and then magically striking it rich a couple years later.

Very clearly you just think of bitcoin as some new-fangled digital fad akin to an up and coming website or whatever and you're a traditionalist, those who believe in paper money kept in the bank when the bank almost surely uses your money for their own investment without your knowledge but still think your money is 100% safe. When you put money into banks they own your money, not you, and can actually spend your money without your knowledge but none of you would want to believe that. Bitcoin is a way of storing your money safely (if you're not too stupid to safeguard it). The price in exchanges is irrelevant, because there is always the true value of bitcoin disregarding the manipulations that is happening now. The true value will always be how much it cost to actually mine a btc. Add that to the fact that the cost of producing btcs will only increase as difficulty goes up and that there is a fixed number of bitcoins ever to be mined, the value of btc can only ever increase over the course of time. But between now and then, there would be fluctuations although it has matured much, much more than say few years ago when you have daily fluctuations if not hourly. Still, the fundamentals of bitcoin stay, that it is deflationary in nature, and that it is the first mover. If you cannot understand what these two factors really means, then you just do not understand how cryptocurrencies work, and all I can say is, whatever floats your boat.

I agree, but it means that, without considering cost of machines, BTC value is ~1/2 of current. If you input the cost of equipment, the value should be much higher as no publicly available mining equipment currently makes more btc than it costs.

[fewcoins]

Sometimes I feel like the only person in the world that actually wants to see the people around him succeed.

I want all of my friends to make millions. It's inspiring.

99% of people want to see everyone around them fail miserably.

I hate humanity.

You want to make millions for yourself, and then you'd like to see your friends make millions as well.

And shouldn't you be saying that you'd like your friends to make a few bitcoins, since each one will be worth millions of dollars in a few years?

People get rich from hard work and wise, long term investing. Not buying a risky, digital asset, going underwater 50% or more, and then magically striking it rich a couple years later.

Very clearly you just think of bitcoin as some new-fangled digital fad akin to an up and coming website or whatever and you're a traditionalist, those who believe in paper money kept in the bank when the bank almost surely uses your money for their own investment without your knowledge but still think your money is 100% safe. When you put money into banks they own your money, not you, and can actually spend your money without your knowledge but none of you would want to believe that. Bitcoin is a way of storing your money safely (if you're not too stupid to safeguard it). The price in exchanges is irrelevant, because there is always the true value of bitcoin disregarding the manipulations that is happening now. The true value will always be how much it cost to actually mine a btc. Add that to the fact that the cost of producing btcs will only increase as difficulty goes up and that there is a fixed number of bitcoins ever to be mined, the value of btc can only ever increase over the course of time. But between now and then, there would be fluctuations although it has matured much, much more than say few years ago when you have daily fluctuations if not hourly. Still, the fundamentals of bitcoin stay, that it is deflationary in nature, and that it is the first mover. If you cannot understand what these two factors really means, then you just do not understand how cryptocurrencies work, and all I can say is, whatever floats your boat.

I agree, but it means that, without considering cost of machines, BTC value is ~1/2 of current. If you input the cost of equipment, the value should be much higher as no publicly available mining equipment currently makes more btc than it costs.

Correction, No eqpmnt we buy at retail price will make any money... But the mining farms make profit even when BTC is in the double digits!!! Recalculate & be amazed...

[brand]

Its human nature to hate and dislike people what they dont have.

Its why when you see a nice car - you automatically assume the guy driving in it is an asshole just because he has it.