What do you mean with the term incompetent speculator? I started with Bitcoin about 2 weeks ago. I really liked the idea and started mining but had to realize that it is really not profitable. So I bought some bitcoins from MtGox. I didn't have any experience with shares except some things from my degree in finance. Of course nothing really applies to Bitcoin 
Still, after buying some Bitcoins, I more than doubled the money i put into MtGox without any experience in that area. Why do you think the same doesn't apply to many other "newbies"?
Still, after buying some Bitcoins, I more than doubled the money i put into MtGox without any experience in that area. Why do you think the same doesn't apply to many other "newbies"?I never said that. You can also get rich playing roulette in the casino if you're lucky. I'm only saying that such people cause fluctuations and lose money on average.
If people are having fun taking high risks, let them go ahead. They're all free to do what they want with their money. But I am allowed to call people who follow trends in an insane fashion or fail to use limit orders without burning 10% of their order incompetent. It's pretty safe to assume they don't make losses on purpose.
I'm not angry at anyone or telling them what to do; I'm a Libertarian after all, maybe some of them are right and I just don't get it. Nobody has to listen to me if they don't want to. That's the nice thing about free markets.
