Welcome to the global poker

[USAEmmett]

Quick fact check.

Bitcoin trading is a massive game of poker. Everyone is trying to play the game of being smarter than the next guy. Everyone is looking at exactly the same information trying to figure out how much more money there is to come into bitcoin. Everyone is trying to work out who is in, and who is out, and who is planning to get in. After this exercise has been conducted en-masse, 90% of traders will loose money to 10% who gain. Once all the money has moved off the sidelines into the market, the market stops going up. The participants in this game are by and large fellow forum posters and readers.

Yes, fact checking exercise for you few delusional folk who are going to get burned hard (if you weren't the first time). The wall st money is not in bitcoin. The only money that is here on the exchanges is your fellow small time traders, mainly students, small-businesses owners and small time employees (maybe a few retired folk).

Despite 90% of traders loosing, it seems 90% of people posting on the forums seem to be adamant they are amongst the few who have succeeded. Such is human nature I guess, and one would do well to learn a lesson from this that may profit them in their own personal endeavors. One does get tired of this particular aspect (can you call it "pride" ?). Over the years, the one thing that doesn't seem to change is, well, it has always been human beings involved.

Let's agree that the big bucks have still yet to arrive, and it would take a sizeable world event for that to happen. I will go out on a limb now and say, despite the exceptional global economic circumstances, If you're predicting established wall st funds moving into bitcoin, you are insane. Categorically insane, since nobody knows what the future is and the probability of such an event (as can be rationally calculated based on human history) is miniscule.

So to conclude this quick fact check, let's be in agreement. You are trading with logically insane people. If you are holding anything more than a small (dollar-wise) amount of bitcoins right now, you are insane. Full stop. And you that bad things happen to insane people who put money on the line, right?

Using the above assumptions, I call, based on these assumptions, a high probability this latest rally a massive dead cat bounce. No new money coming in, just a rush of cash that was already in brokerage accounts - or the bank accounts of old bitcoin traders - back into bitcoin. The rally continues until the last sucker is back into bitcoin, everyone realizes there's no new money, and then bam it finishes as fast as it ends.

Criticism will be accepted if it is constructive.

[Melbustus]

1) You just described every market, from the NYSE, to real-estate, to bitcoin. Everyone trades because they think they are making a smart decision relative to the current market consensus. Everyone from Goldman Sachs to the widow next-door. More than half of the money can never be right, in any market.

2) Watch: http://www.youtube.com/watch?v=NERAN-89j8M

3) Read: http://dealbook.nytimes.com/2014/01/21/why-bitcoin-matters/
And:
http://www.circle.com/2013/10/30/digital-currency-and-the-arc-of-the-internet/

[fewcoins]

Very well written! We will see when everyone realizes the whales are manipulating this price up on NO volume!!! Trying to suck us in! 

[MoreFun]

3 options for this 1 hour old member:
- OP is paid to post this FUD;
- OP is jealous to people owning BTC and strongly doesn't want it to be succesful;
- OP is retarded.

OP please identify yourself.

[alexeft]

Is everyone nuts in this thread???

[alexeft]

Quick fact check.

Bitcoin trading is a massive game of poker. Everyone is trying to play the game of being smarter than the next guy. Everyone is looking at exactly the same information trying to figure out how much more money there is to come into bitcoin. Everyone is trying to work out who is in, and who is out, and who is planning to get in. After this exercise has been conducted en-masse, 90% of traders will loose money to 10% who gain. Once all the money has moved off the sidelines into the market, the market stops going up. The participants in this game are by and large fellow forum posters and readers.

Yes, fact checking exercise for you few delusional folk who are going to get burned hard (if you weren't the first time). The wall st money is not in bitcoin. The only money that is here on the exchanges is your fellow small time traders, mainly students, small-businesses owners and small time employees (maybe a few retired folk).

Despite 90% of traders loosing, it seems 90% of people posting on the forums seem to be adamant they are amongst the few who have succeeded. Such is human nature I guess, and one would do well to learn a lesson from this that may profit them in their own personal endeavors. One does get tired of this particular aspect (can you call it "pride" ?). Over the years, the one thing that doesn't seem to change is, well, it has always been human beings involved.

Let's agree that the big bucks have still yet to arrive, and it would take a sizeable world event for that to happen. I will go out on a limb now and say, despite the exceptional global economic circumstances, If you're predicting established wall st funds moving into bitcoin, you are insane. Categorically insane, since nobody knows what the future is and the probability of such an event (as can be rationally calculated based on human history) is miniscule.

So to conclude this quick fact check, let's be in agreement. You are trading with logically insane people. If you are holding anything more than a small (dollar-wise) amount of bitcoins right now, you are insane. Full stop. And you that bad things happen to insane people who put money on the line, right?

Using the above assumptions, I call, based on these assumptions, a high probability this latest rally a massive dead cat bounce. No new money coming in, just a rush of cash that was already in brokerage accounts - or the bank accounts of old bitcoin traders - back into bitcoin. The rally continues until the last sucker is back into bitcoin, everyone realizes there's no new money, and then bam it finishes as fast as it ends.

Criticism will be accepted if it is constructive.

That was a quick fart check!!! Not a fact check!

[dasein]

This is the typical analysis of someone who understands everything about markets and nothing about the blockchain.  

[Melbustus]

Very well written! We will see when everyone realizes the whales are manipulating this price up on NO volume!!! Trying to suck us in! 

Uhh, the volume during this uptrend has been *multiples* of what it was on most of the downtrend days.

Furthermore, if you think what the OP wrote was "Very well written!" then you must simply be impressed by (mostly) correct grammar and a decent vocabulary.

The *content* of what OP wrote was 1) A misunderstanding of markets overall (since he/she incorrectly considers the bitcoin market a special case), and 2) A grossly ignorant position with respect to the asymmetric opportunity presented by bitcoin. I provided a few introductory educational resources for OP. I suggest you watch/read them as well.

[culexevilman]

Blockchain technology is part of the new movement in global decentralized computing solution.

[Elwar]

I tried to connect to the blockchain and it was shut down because of price. When will it be back up?

[fewcoins]

I tried to connect to the blockchain and it was shut down because of price. When will it be back up?

No idea what you mean but I can't connect to block chain either... what happened?

[JimboToronto]

Very well written! We will see when everyone realizes the whales are manipulating this price up on NO volume!!! Trying to suck us in! 

Talking to yourself again I see.

[JimboToronto]

I can't connect to block chain either

Can't connect to the block chain? What BTC client are you using? Mining or just transferring coins?

[KJO]

Quick fact check.

Bitcoin trading is a massive game of poker. Everyone is trying to play the game of being smarter than the next guy. Everyone is looking at exactly the same information trying to figure out how much more money there is to come into bitcoin. Everyone is trying to work out who is in, and who is out, and who is planning to get in. After this exercise has been conducted en-masse, 90% of traders will loose money to 10% who gain. Once all the money has moved off the sidelines into the market, the market stops going up. The participants in this game are by and large fellow forum posters and readers.

Yes, fact checking exercise for you few delusional folk who are going to get burned hard (if you weren't the first time). The wall st money is not in bitcoin. The only money that is here on the exchanges is your fellow small time traders, mainly students, small-businesses owners and small time employees (maybe a few retired folk).

Despite 90% of traders loosing, it seems 90% of people posting on the forums seem to be adamant they are amongst the few who have succeeded. Such is human nature I guess, and one would do well to learn a lesson from this that may profit them in their own personal endeavors. One does get tired of this particular aspect (can you call it "pride" ?). Over the years, the one thing that doesn't seem to change is, well, it has always been human beings involved.

Let's agree that the big bucks have still yet to arrive, and it would take a sizeable world event for that to happen. I will go out on a limb now and say, despite the exceptional global economic circumstances, If you're predicting established wall st funds moving into bitcoin, you are insane. Categorically insane, since nobody knows what the future is and the probability of such an event (as can be rationally calculated based on human history) is miniscule.

So to conclude this quick fact check, let's be in agreement. You are trading with logically insane people. If you are holding anything more than a small (dollar-wise) amount of bitcoins right now, you are insane. Full stop. And you that bad things happen to insane people who put money on the line, right?

Using the above assumptions, I call, based on these assumptions, a high probability this latest rally a massive dead cat bounce. No new money coming in, just a rush of cash that was already in brokerage accounts - or the bank accounts of old bitcoin traders - back into bitcoin. The rally continues until the last sucker is back into bitcoin, everyone realizes there's no new money, and then bam it finishes as fast as it ends.

Criticism will be accepted if it is constructive.

Here's a constructive criticism...FUD should at least have some factual basis. Your fud is so incorrectly presumptuous and non factual that it triggers a strong "comical" effect and nobody takes it seriously. I encourage you to study the works of the greats and work harder to become the great fudder I know you can be someday.

You have only one post. You should first make a few bearish trolls on the newbies discussion and then move on to the big boys but right now, we can't take you seriously brah, too much imagination and not enough substance. You are just concocting fairytales in your head.

[romneymoney]

I have some advice for anyone who doesn't know the difference between loose and lose

CUT YOUR LOOSES!!1

[JimboToronto]

I tried to connect to the blockchain and it was shut down because of price. When will it be back up?

You're not a noob so I assume you know the difference between the blockchain (which you used) and the website called Blockchain.info.

Both are working fine for me.

Edit: Maybe I need to adjust my sarcasm meter.

[JimboToronto]

I tried to connect to the blockchain and it was shut down because of price. When will it be back up?

You're not a noob so I assume you know the difference between the blockchain and the website called Blockchain.info.

Both are working fine for me.

He is using sarcasm to suggest that Bitcoin will continue to function regardless of the exchange rate.

Thanx. You were posting and I was editing at exactly the same time.

[thezerg]

Bitcoin is not a zero or negative sum game.  Every time someone makes a payment or remittance in BTC someone gains 3-10% relative to the cost of other payment methods.  And for international payments, the payer saves a lot of time as compared to wire transfer or WU.

But sure, if you are day trading, this small positive sum "generated" by Bitcoin's efficiency won't make much difference compared to your trading fees.

[fewcoins]

OP, some people use Bitcoin for more than just speculation. Ignoring them could be harmful to your ability see things for what they are.  

Really?? Please clue us in to who these people are

[btcney]

OP, some people use Bitcoin for more than just speculation. Ignoring them could be harmful to your ability see things for what they are.  

Really?? Please clue us in to who these people are

People who want to buy drugs?