PermaBears

[smoothie]

So what do you mean as "perma-bears"?

People that were ALWAYS bearish on bitcoin?


I bought at $10-$12, started selling in december 2013 - january 2014 and after that started mostly trading the big moves since there was good margin trading, liquidity was a lot better and the bubble seemed to started bursting (so no point in blindly holding)

I mostly shorted this 2014, being pretty bearish all year aside from the predictable big $450-$680 short-term reversal-megapump.

At this point I am what you would consider a perma-bear. I don't have much hopes for bitcoin, mainly for reasons linked to its fundamentals.
The trend is down until proven otherwise. If there are signs of a strong reversal I might buy or go long but I doubt.

Am I a perma-bear or not?

Permabear meaning they are always bearish (well I would count someone being 98% bearish and 2 % bullish in their entire time involved in bitcoin).

You don't sound like a perm-bear...you sound like a cycles trader. You go where there is money to be made.

[1714961891]

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[1714961891]

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[1714961891]

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[1714961891]

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[smoothie]

I've seen Edward50 go bull. It was very short-lived, but he did it at least once.

If anyone can link to a post where Edward50 did go bull...that would be appreciated. Thanks in advance.

I am loathe to actually search through posts, but THIS one, I am very confident on. I wouldn't forget something like this, and I didn't.

No worries. Still if anyone has the link it would be awesome to see.

[piramida]

One of the major things that keeps me from turning into a bear is that the current financial system will eventually change/break.

The fiat system is flawed as governments/central banks around the world get SOMETHING for nothing (pretty much nothing except ink, printers, and paper)  

But if it does collapse, which is quite real, it will bring everything else with it; there won't be a happy transition to bitcoin. Internet infrastructure, electricity, everything will be gone.

I'm still hoping for a very slow gradual replacement, sector by sector, of non-digital services with cryptographic ones, over the next 20-50 years.

And about bears - the fact that they stick on to here means they are into bitcoin, so they are (mostly) not hopeless. They just think sub-yearly timeframes, that's all. It is pretty obvious from looking at price graphs that bitcoin price spends 80% of it's time slowly trickling down; so no wonder bears are well fed around here

[BTCtrader71]

So what do you mean as "perma-bears"?

People that were ALWAYS bearish on bitcoin?


I bought at $10-$12, started selling in december 2013 - january 2014 and after that started mostly trading the big moves since there was good margin trading, liquidity was a lot better and the bubble seemed to started bursting (so no point in blindly holding)

I mostly shorted this 2014, being pretty bearish all year aside from the predictable big $450-$680 short-term reversal-megapump.

At this point I am what you would consider a perma-bear. I don't have much hopes for bitcoin, mainly for reasons linked to its fundamentals.
The trend is down until proven otherwise. If there are signs of a strong reversal I might buy or go long but I doubt.

Am I a perma-bear or not?

Permabear meaning they are always bearish (well I would count someone being 98% bearish and 2 % bullish in their entire time involved in bitcoin).

You don't sound like a perm-bear...you sound like a cycles trader. You go where there is money to be made.

A permabear would be someone who perpetually thinks the price is going to drop to X, and then when it drops to X, thinks it will drop further, the logic being that if it dropped this far it will drop some more. Like this:

So when bitcion was well over $15 or $20, I was saying I would buy bitcions when they hit around $2.00's, that is when I said it was a good long term investment.
Now that it hit that point, I do not even want to buy them.

[piramida]

A permabear would be someone who perpetually thinks the price is going to drop to X, and then when it drops to X, thinks it will drop further, the logic being that if it dropped this far it will drop some more. Like this:

So when bitcion was well over $15 or $20, I was saying I would buy bitcions when they hit around $2.00's, that is when I said it was a good long term investment.
Now that it hit that point, I do not even want to buy them.

So basically someone without balls who does not consider his own previous decisions trustworthy, poor bears, they must get very little done with their lives.

[Odalv]

There are 7b permabears who do not own bitcoin. ... It is their problem, I'll have more bitcoins. :-)

[smoothie]

One of the major things that keeps me from turning into a bear is that the current financial system will eventually change/break.

The fiat system is flawed as governments/central banks around the world get SOMETHING for nothing (pretty much nothing except ink, printers, and paper)  

But if it does collapse, which is quite real, it will bring everything else with it; there won't be a happy transition to bitcoin. Internet infrastructure, electricity, everything will be gone.

I'm still hoping for a very slow gradual replacement, sector by sector, of non-digital services with cryptographic ones, over the next 20-50 years.

And about bears - the fact that they stick on to here means they are into bitcoin, so they are (mostly) not hopeless. They just think sub-yearly timeframes, that's all. It is pretty obvious from looking at price graphs that bitcoin price spends 80% of it's time slowly trickling down; so no wonder bears are well fed around here

I disagree. If the fiat system broke that wouldn't mean that everyday life would not go on as how it was prior to fiat currency. Yes it would be a shock but ultimately people want to use the currency that people accept. If people are not accepting USD because it falls to 0 value then there will be some other sort of mechanism (bit coin, gold, silver, or just barter) that will replace it.

Fiat currency and its system is not the heart of the entire market of the world in all goods and sources of commodities and services.

It is a bullshit system put into place so a select few people can get something for nothing.

Your bolded statement above makes me chuckle as most of the bears here want to make it appear that they truly are not interested in bit coin and just want to see it die yet they have bought it, used it, traded it... LOL

[smoothie]

So what do you mean as "perma-bears"?

People that were ALWAYS bearish on bitcoin?


I bought at $10-$12, started selling in december 2013 - january 2014 and after that started mostly trading the big moves since there was good margin trading, liquidity was a lot better and the bubble seemed to started bursting (so no point in blindly holding)

I mostly shorted this 2014, being pretty bearish all year aside from the predictable big $450-$680 short-term reversal-megapump.

At this point I am what you would consider a perma-bear. I don't have much hopes for bitcoin, mainly for reasons linked to its fundamentals.
The trend is down until proven otherwise. If there are signs of a strong reversal I might buy or go long but I doubt.

Am I a perma-bear or not?

Permabear meaning they are always bearish (well I would count someone being 98% bearish and 2 % bullish in their entire time involved in bitcoin).

You don't sound like a perm-bear...you sound like a cycles trader. You go where there is money to be made.

A permabear would be someone who perpetually thinks the price is going to drop to X, and then when it drops to X, thinks it will drop further, the logic being that if it dropped this far it will drop some more. Like this:

So when bitcion was well over $15 or $20, I was saying I would buy bitcions when they hit around $2.00's, that is when I said it was a good long term investment.
Now that it hit that point, I do not even want to buy them.

Even though he would be at a 1000+% profit if he bought at $20 back then and held until today.

 

[smoothie]

There are 7b permabears who do not own bitcoin. ... It is their problem, I'll have more bitcoins. :-)

I wouldn't consider the innocent ignorant who do not know about bit coin to consider them PERMABEARS.

[illyiller]

There's not that many perma bears that weren't just total trolls like fallllling. Even people like fonzie turned bull on occasion.

[BTCtrader71]

So what do you mean as "perma-bears"?

People that were ALWAYS bearish on bitcoin?


I bought at $10-$12, started selling in december 2013 - january 2014 and after that started mostly trading the big moves since there was good margin trading, liquidity was a lot better and the bubble seemed to started bursting (so no point in blindly holding)

I mostly shorted this 2014, being pretty bearish all year aside from the predictable big $450-$680 short-term reversal-megapump.

At this point I am what you would consider a perma-bear. I don't have much hopes for bitcoin, mainly for reasons linked to its fundamentals.
The trend is down until proven otherwise. If there are signs of a strong reversal I might buy or go long but I doubt.

Am I a perma-bear or not?

Permabear meaning they are always bearish (well I would count someone being 98% bearish and 2 % bullish in their entire time involved in bitcoin).

You don't sound like a perm-bear...you sound like a cycles trader. You go where there is money to be made.

A permabear would be someone who perpetually thinks the price is going to drop to X, and then when it drops to X, thinks it will drop further, the logic being that if it dropped this far it will drop some more. Like this:

So when bitcion was well over $15 or $20, I was saying I would buy bitcions when they hit around $2.00's, that is when I said it was a good long term investment.
Now that it hit that point, I do not even want to buy them.

Even though he would be at a 1000+% profit if he bought at $20 back then and held until today.

 

I think many "permabear" investors fall prey to the notion that if they don't catch the falling knife, that they have been made to look the fool; so they never invest, even if they fundamentally believe in bitcoin's long term prospects. So for example: if you buy now at 263 (current price), and you think there's a significant chance it will be 10k or more in 1 to 10 years, but there is even the slightest chance it might drop to 200 first, then you should wait, because damn, wouldn't you feel like an idiot if that happened. I think this is true of MatTheCat, and what's more, I think he knows it.

[Chef Ramsay]

I think ever sense trading became a bigger thing in the crypto world that you have more bearish mentalities when people are focused on trends and analysis affecting the price rather than focusing on where the tech will take us which is where the bulls come from and stay. just a thought

[JimboToronto]

Edward50

He watched the price go from $2 to $1200 and is still trying to break even.

How is that even possible? Kinda feel for the guy but it's also pretty funny

This guy ^ comes to mind when I think of the term "PermaBear".

Even Proudhon wasn't that bad.

From what I remember Edward50 was telling people to sell bitcoin at $2 in 2011 right?

Now on the down trend in price he is doing the same...

History repeating itself with the same guy?  

IMHO the difference between Proudhon and Edward50 is that Edward50 seemed to take himself seriously.

Proudhon always struck me as a playful troll looking for laughs.

[smoothie]

Edward50

He watched the price go from $2 to $1200 and is still trying to break even.

How is that even possible? Kinda feel for the guy but it's also pretty funny

This guy ^ comes to mind when I think of the term "PermaBear".

Even Proudhon wasn't that bad.

From what I remember Edward50 was telling people to sell bitcoin at $2 in 2011 right?

Now on the down trend in price he is doing the same...

History repeating itself with the same guy?  

IMHO the difference between Proudhon and Edward50 is that Edward50 seemed to take himself seriously.

Proudhon always struck me as a playful troll looking for laughs.

You are correct. I saw Proudhon the same way.

[Bit_Happy]

I am always Bullish about Bitcoin being important for many reasons, but any time the price spikes "way too fast" I will quickly become bearish since we are "way overdue" for a correction.

[Nagle]

Nagle?

More or less, yes. I still haven't seen a convincing use case for Bitcoin. The Silk Road and China bubbles only lasted until the relevant regulators could stop them. As a payment mechanism, Bitcoin is mediocre. Bitcoin for remittances didn't go anywhere.
Bitcoin never became the petty cash of the Internet. And Bitcoin is an ever bigger crook magnet than I expected. There's still no Bitcoin exchange with proper auditing, and the failure rate of Bitcoin exchanges is well over 50% now.

I was expecting Bitcoin to become a currency used for little stuff like music tracks and in-game purchases. That would be useful, but it never happened.

[gog1]

Nagle?

I thought Blitz would be one as well

[Melbustus]

Nagle?

More or less, yes. I still haven't seen a convincing use case for Bitcoin. The Silk Road and China bubbles only lasted until the relevant regulators could stop them. As a payment mechanism, Bitcoin is mediocre. Bitcoin for remittances didn't go anywhere.
Bitcoin never became the petty cash of the Internet. And Bitcoin is an ever bigger crook magnet than I expected. There's still no Bitcoin exchange with proper auditing, and the failure rate of Bitcoin exchanges is well over 50% now.

I was expecting Bitcoin to become a currency used for little stuff like music tracks and in-game purchases. That would be useful, but it never happened.

Clifford, is that you? http://www.newsweek.com/clifford-stoll-why-web-wont-be-nirvana-185306

These things take time. A lot more than 6 years. Sheesh.

(you're also wrong about various assertions, but I tire of dissecting your posts)

[Melbustus]

I had occasion to take a look at some of Edward's post history the other day. I posted this:

Here is OP posting on the exact day of the 2011 low:

I think most people have been holding off selling when the price dropped to around $3.00. But now that it has been dropping slowly from that price point, I think it will be very soon that people will start to dump their coins.

There will be some resistance around $2.00, Even with the manipulator trying to push it higher, he has failed. IT seems that the price will fall to about $1.00. I think that will be the bottom. Expect some bouncing, but each bounce is weaker and weaker.

Note that the bottom was *double* what he said it was gonna be... Oh, and the fact that he was making many of the same general arguments about bitcoin's doom and impending price collapse when the price was 100-fold lower than today.

Maybe we should have a rating system where if you're consistently wrong with testable predictions for years, you don't get to start new threads.

[Bit_Happy]

Nagle?

More or less, yes. I still haven't seen a convincing use case for Bitcoin. The Silk Road and China bubbles only lasted until the relevant regulators could stop them. As a payment mechanism, Bitcoin is mediocre. Bitcoin for remittances didn't go anywhere.
Bitcoin never became the petty cash of the Internet. And Bitcoin is an ever bigger crook magnet than I expected. There's still no Bitcoin exchange with proper auditing, and the failure rate of Bitcoin exchanges is well over 50% now.

I was expecting Bitcoin to become a currency used for little stuff like music tracks and in-game purchases. That would be useful, but it never happened.

Clifford, is that you? http://www.newsweek.com/clifford-stoll-why-web-wont-be-nirvana-185306

These things take time. A lot more than 6 years. Sheesh.

(you're also wrong about various assertions, but I tire of dissecting your posts)

The Newsweek article is awesome, thanks.  
How can one short article be wrong about so many details?