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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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Q7
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January 14, 2015, 12:28:18 PM |
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Instead of trying to turn this into a joke, I would like to be more reserved for those who had faith in bitcoin. Nobody would want this to happen in the first place and who would have thought it would be so drastic. I had the feeling that it will end up like today but not as bad.
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jubalix
Legendary
 Offline
Activity: 2618
Merit: 1022
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January 14, 2015, 01:01:20 PM |
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Step 1: Panic Sell: Quickly go to your exchange of choice (preferably one located in a country other than your own) and sell all your bitcoin. Don't even risk owning the smallest fraction of a coin. If you really want to commit to quitting, do it right and sell everything.
Step 2: Seek Validation on Your Favorite Bitcoin Forum: It is simply not enough to sell all your bitcoin. To ensure that you later don't have a "change of heart," it is required that you announce your departure. Regular bitcoin users also like to see who is leaving, so it is important for you to tell them. You won't believe how much strangers on the Internet care!
Step 3: Make Sure You Know Your Talking Points: People leaving bitcoin need to have a reason why. Make sure you have one in your pocket especially during step 2. Please choose one of these: "Price Volatility", "Centralized Mining", "Fixed Supply".
Step 4: Enjoy the Freedom from Bitcoin Shackles
Step 5: Do something else for awhile. Never pass up an opportunity to ridicule the idea of Bitcoin and those dumb enough to use it.
Step 6: Check back after six months, only to find that Bitcoin isn't dead after all.
Step 7: Check back again, only to find the price has inexplicably risen past your selling price. Complain bitterly, as the price continues rising relentlessly and inexplicably, about how "early adopters" get all the breaks.
Step 8: Buy bitcoin. Buy more bitcoin. Start dreaming of getting rich simply by buying Bitcoin.
Step 9: Put 90% of your net worth into Bitcoin. Make a post to /r/bitcoin about how you're in it for the long haul.
Step 10: Watch in horror as your "investment" drops by 50%, then 60%, then 70%.
Step 11: GOTO Step 1.
this is very good and very accurate! |
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picolo
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January 14, 2015, 02:55:41 PM |
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Instead of trying to turn this into a joke, I would like to be more reserved for those who had faith in bitcoin. Nobody would want this to happen in the first place and who would have thought it would be so drastic. I had the feeling that it will end up like today but not as bad.
Oh now you had the feeling "it would end up like Today" but you didn't say it would and you bought BTC at a higher price. It didn't ended up, the price just went down and it will likely recover. |
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herzmeister
Legendary
Offline
Activity: 1764
Merit: 1007
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January 14, 2015, 03:43:19 PM |
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time for a re-run   |
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picolo
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January 14, 2015, 10:27:39 PM |
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time for a re-run No the market needs at least a month of dispair then everyone will be very happy and hopeful when the price will be 400$. |
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sethminer14
Member
Offline
Activity: 98
Merit: 10
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January 14, 2015, 10:48:31 PM |
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It'll get back up... After it plummets to the ground first...
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wesk1212
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January 15, 2015, 12:28:39 AM |
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Most of the people writing here couldnt afford bitcoin in the first place it seems.
So regardless of the price and regardless of how much ubguys profit or lose from btc is barely a little.
But you guys talk a lot. Kinda lame if u think about it
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picolo
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January 15, 2015, 01:59:19 PM |
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It'll get back up... After it plummets to the ground first...
It could plummet to 130-140$ before it goes back up or one last dip at 160$ then it will go up. Maybe it will stay a month or two at 200-250$ but the future looks bright. |
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Flashman
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January 15, 2015, 02:02:03 PM |
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Most of the people writing here couldnt afford bitcoin in the first place it seems.
So regardless of the price and regardless of how much ubguys profit or lose from btc is barely a little.
But you guys talk a lot. Kinda lame if u think about it
Yup, the well of ignorance must be 100% proof, the way they all seem so drunk on it. |
TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6
Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins. |
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thejaytiesto
Legendary
Offline
Activity: 1358
Merit: 1014
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January 15, 2015, 04:17:17 PM |
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Step 12. When Bitcoin crashes down to $0, go to Home depot get some quality rope, tie a nice fat noose around your neck, find a nice sturdy chair to kick under you.  P.S. - Morbid sense of humor, nobody please off yourself, life's way too important. But if you invested 100% of your life savings without hedging, I guess it's an option...  I would need to buy 1K worth of BTC in pizzas if I want my skinny ass to induce enough weight in the rope to effectively kill myself to avoid a post-Bitcoin world. |
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BaselessBitcoin
Newbie
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Activity: 14
Merit: 0
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January 15, 2015, 04:56:48 PM |
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I think some peeps went into btc for the wrong reasons and should just hold for the long run instead of trying to play the markets. If you know how to trade by all means, but it is no surprise that the average joe loses so much.
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LiteCoinGuy (OP)
Legendary
Offline
Activity: 1148
Merit: 1010
In Satoshi I Trust
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January 15, 2015, 05:08:42 PM |
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Well, if we can't invest in oil anymore, where will all the investment dollars go?......bitcoin....?
i guess its also a great opportunity to buy oil in the next weeks/months if you look at the charts.  |
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Wendigo
Legendary
Offline
Activity: 2604
Merit: 1036
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January 15, 2015, 05:13:44 PM |
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time for a re-run The dude looks like a survivor from the Walking Dead |
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skinbrake
Newbie
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Activity: 40
Merit: 0
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January 15, 2015, 06:18:31 PM |
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Are there any people here who don't believe in all this negative rhetoric?
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crypto97
Newbie
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Activity: 55
Merit: 0
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January 15, 2015, 09:08:32 PM |
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All I see is opportunity! A few years from now we will all look back at this and laugh!
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picolo
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January 16, 2015, 01:38:42 PM |
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All I see is opportunity! A few years from now we will all look back at this and laugh!
Hopefully a few months from now we will look at this and laugh. |
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bornil267645
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January 16, 2015, 03:00:06 PM |
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Well at the moment, story line doesn't look so good. What if the bitcoin never responds like it was predicted, It will take it's place nicely in the pages of history.
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General_A
Member
Offline
Activity: 70
Merit: 10
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January 16, 2015, 05:00:19 PM |
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To be a millionnaire in Bitcoin at a price of 175$ 5714 BTC! Having 100 BTC means you could get 17 500$ if you run to the exchanges and the price is not lower by then.
It makes you think if the market is not manipulated by someone who desperately needs some cheap BTC to recover a loss.
Yeah Mt.Gox manipulated the prices upwards suggests they had BTC and no FIAT. Bitstamp COULD well be manipulating prices downwards, suggesting no BTC and plenty of FIAT. |
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LiteCoinGuy (OP)
Legendary
Offline
Activity: 1148
Merit: 1010
In Satoshi I Trust
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January 16, 2015, 07:55:07 PM |
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Well at the moment, story line doesn't look so good. What if the bitcoin never responds like it was predicted, It will take it's place nicely in the pages of history.
that could happen. its high risk tech and investment. welcome |
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