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old_engineer (OP)
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July 25, 2012, 03:28:40 AM |
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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 |
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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adamstgBit
Legendary
 Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
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July 25, 2012, 03:31:45 AM |
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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 |
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nimda
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July 25, 2012, 04:34:04 AM |
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phorensic
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July 25, 2012, 04:55:29 AM |
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You seriously only bought (nice) scotch with your profits so far? Jeez. "First world problems" as my brother likes to say, lol!
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jojo69
Legendary
Offline
Activity: 3164
Merit: 4345
diamond-handed zealot
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July 25, 2012, 05:44:43 AM |
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lol
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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.
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cheat_2_win
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July 25, 2012, 06:10:07 AM |
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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? |
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old_engineer (OP)
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July 25, 2012, 11:40:19 PM |
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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 |
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elux
Legendary
Offline
Activity: 1458
Merit: 1006
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July 26, 2012, 11:50:46 AM |
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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. |
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