look at all that volatility...

[old_engineer]

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

[1713305007]

1713305007

[adamstgBit]

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]

pirate

inb4 shitstorm

[phorensic]

You seriously only bought (nice) scotch with your profits so far?  Jeez.  "First world problems" as my brother likes to say, lol!

[jojo69]

lol

[cheat_2_win]

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]

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]

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.