Now I'm thoroughly convinced they are grade A morons.
Haha. I often say: "Most people are fucking stupid".
I thought you were just of the random dudes that spat out a negative opinion, but you actually had knowledge to back it up, good on you!
You know the stupid sayings when a soccer team loses 1-2 for instance and one supporter says to the next, haha - I knew your team would lose, how fucking stupid are you! I don't condone that kind of sillyness.
However, at the moment, you're right in everything you say. But at the same time, some people will always not go for the best bargains. You will find people go on saturday evenings to buy expensive pizza on a gas station, while they could've bought it for almost half the price during the week in a normal super market. That's also pretty stupid, but people still do it.
Many people buying bitcoins now actually have more faith than most current forum members. They dont care shit about price. Bitstamp was hitting $77 last thursday. If I had had money and the volume were there (both negative) I would have bought also. Who knows if the price will dip and how much it will dip, and if the lag allows to trade etc.? I would have never suspected a ->50 shakeout would happen, at the max I would have been able to buy at $65 average rate during the weekend. Who cares really. The outcomes are
BTC>1000 and
BTC<100 in a few years. The first is a success, the second is a fail. There is no middle ground.
Well, I fail to grasp what exatly makes people
sell at $50 but I am sure they had their reasons. Margin call could be one.
Over 10k or under 100, but otherwise agree completely.