Quote from: BrightAnarchist on March 31, 2013, 04:23:13 PM

Quote from: lebing on March 31, 2013, 04:13:26 PM

Quote from: BrightAnarchist on March 31, 2013, 04:07:45 PM

in financial markets if you reach the point where everyone knows something, then the exact opposite is usually about to occur.

Right because when everyone bought the google IPO because they knew it was an amazing company, it failed instead.

Did people sell their houses and put all the proceeds into google shares? I think you're misunderstanding the degree of conviction I'm conveying here that occurs in people's minds at major tops... i.e. contrarianism only works at the very extremes of psychology

I dont think anyone is selling a house they need to live in to buy bitcoins and then rent. I saw someone put up a house in canada that was a relatives, most likely as a marketing ploy and it sure as hell worked.

People are using it as a store of value, which is what it was designed for. This isnt "top behavior", its knowledge and corresponding logical action.

I invested 80% of my savings almost a year ago because I knew this rise would happen (just as I know for fundamental reasons it will continue). Was that top behavior?