old_engineer (OP)
|
|
July 25, 2012, 03:28:40 AM |
|
After sitting out about 6 months now, watching these $1+daily swings are making me want to get back in the game . Also, the shelf full of fine scotch funded from my prior "work" has thinned dramatically, and reinforcements will soon be needed. My totally uneducated opinion is: * halving of the block reward will increase future price * miners cashing out at the highest value since September 2011, 60-80% higher than the $5 stable zone, are dropping the price * the adoption of FPGAs will change the mining demographic, favoring those that plunked down a lot of cash and will want to sell their mined coins ASAP to defray risks, dropping the price * the ever-present smattering of big-money speculators buying in, and selling at random, make for big market moves at random times Summed together, I have no idea where the price is going, but my my my, that volatility looks delectable. I used to be more ideologically motivated about supporting bitcoin, but this time, I think it'll be about making a buck while reducing volatility. PS: all the triangle charting posts still look completely silly
|
|
|
|
|
|
The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
July 25, 2012, 03:31:45 AM |
|
After sitting out about 6 months now, watching these $1+daily swings are making me want to get back in the game . Also, the shelf full of fine scotch funded from my prior "work" has thinned dramatically, and reinforcements will soon be needed. My totally uneducated opinion is: * halving of the block reward will increase future price * miners cashing out at the highest value since September 2011, 60-80% higher than the $5 stable zone, are dropping the price * the adoption of FPGAs will change the mining demographic, favoring those that plunked down a lot of cash and will want to sell their mined coins ASAP to defray risks, dropping the price * the ever-present smattering of big-money speculators buying in, and selling at random, make for big market moves at random times Summed together, I have no idea where the price is going, but my my my, that volatility looks delectable. I used to be more ideologically motivated about supporting bitcoin, but this time, I think it'll be about making a buck while reducing volatility. PS: all the triangle charting posts still look completely silly Just put your bitcoins in pirates bank and enjoy an easy 7% weekly... lol
|
|
|
|
nimda
|
|
July 25, 2012, 04:34:04 AM |
|
|
|
|
|
phorensic
|
|
July 25, 2012, 04:55:29 AM |
|
You seriously only bought (nice) scotch with your profits so far? Jeez. "First world problems" as my brother likes to say, lol!
|
|
|
|
jojo69
Legendary
Offline
Activity: 3164
Merit: 4345
diamond-handed zealot
|
|
July 25, 2012, 05:44:43 AM |
|
lol
|
This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable. Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
|
|
|
cheat_2_win
|
|
July 25, 2012, 06:10:07 AM |
|
After sitting out about 6 months now, watching these $1+daily swings are making me want to get back in the game . Also, the shelf full of fine scotch funded from my prior "work" has thinned dramatically, and reinforcements will soon be needed. My totally uneducated opinion is: * halving of the block reward will increase future price * miners cashing out at the highest value since September 2011, 60-80% higher than the $5 stable zone, are dropping the price * the adoption of FPGAs will change the mining demographic, favoring those that plunked down a lot of cash and will want to sell their mined coins ASAP to defray risks, dropping the price * the ever-present smattering of big-money speculators buying in, and selling at random, make for big market moves at random times Summed together, I have no idea where the price is going, but my my my, that volatility looks delectable. I used to be more ideologically motivated about supporting bitcoin, but this time, I think it'll be about making a buck while reducing volatility. PS: all the triangle charting posts still look completely silly It has been calm since last couple of days. Might it be the calm before the storm?
|
|
|
|
old_engineer (OP)
|
|
July 25, 2012, 11:40:19 PM |
|
You seriously only bought (nice) scotch with your profits so far? Jeez. "First world problems" as my brother likes to say, lol!
Yep, I spent my profits on fine drink and women; the rest I just wasted. Twice I spent >$1000 at Bevmo - those were fun trips. Also hosted several dinner parties, too, feeding 20+ people each time with enormous primal cuts of meat (usually full 13-15 lb briskets), while people helped themselves to a cabinet full of liquor. Good times, and bitcoin was mentioned many times - good advertising, eh? There's no way I could have drunk all of those bottles myself, reinforcements were needed. Seriously, I don't think there's anything more important in life than to, y'know, live a little. Learned that bit of wisdom in Africa, actually: death might come at any time, don't save all your money, spend some of it, too, and enjoy life.</offtopic> So, it looks like Mtgox is still the only real game in town, so I'm transferring some USD to mtgox, will probably put some orders in the 7.7-7.9 range. No real rush to jump in the fray; I'll see if I can catch a dump in the next week or two and resell at ~8.5
|
|
|
|
elux
Legendary
Offline
Activity: 1458
Merit: 1006
|
|
July 26, 2012, 11:50:46 AM |
|
Yep, I spent my profits on fine drink and women; the rest I just wasted. Twice I spent >$1000 at Bevmo - those were fun trips. Also hosted several dinner parties, too, feeding 20+ people each time with enormous primal cuts of meat (usually full 13-15 lb briskets), while people helped themselves to a cabinet full of liquor. Good times, and bitcoin was mentioned many times - good advertising, eh? There's no way I could have drunk all of those bottles myself, reinforcements were needed. Seriously, I don't think there's anything more important in life than to, y'know, live a little. Learned that bit of wisdom in Africa, actually: death might come at any time, don't save all your money, spend some of it, too, and enjoy life.
I like you, your stories, and your style. Welcome back to Crazyland.
|
|
|
|
|