So they were right? Bubble did not deflate completely and it dropped 2.5 times further down?
Few people in the thread were entirely right. Nagle certainly wasn't.
I'm the original poster in this topic. I called the collapse of Bitcoin on June 11, 2011. I wrote "Bitcoin, the new "digital currency", looks like a Ponzi scheme. Only Ponzi schemes chart like that. When Ponzi schemes crash, they crash fast, and they crash all the way." "There's no revenue model here. All growth comes only from new investors. This is a bubble in its pure form."
It's been all downhill since then. The price was $17 then. It's dropped $4 per month for the last four months. It's at $2.52 now.
Our criterion for "Dead" on Downside was when the price was off 90% from the high. Bitcoin is now dead.
We warned you. You didn't listen.
If you have substantial cash in an exchange, get it out now. We're going to find out quite soon which exchanges have all the customer's cash and which don't.
He called bitcoin "dead" $0.52 and 30 days away from the two year low from which we haven't come remotely close to having seen again.It's been all downhill since then. The price was $17 then. It's dropped $4 per month for the last four months. It's at $2.52 now.
Our criterion for "Dead" on Downside was when the price was off 90% from the high. Bitcoin is now dead.
We warned you. You didn't listen.
If you have substantial cash in an exchange, get it out now. We're going to find out quite soon which exchanges have all the customer's cash and which don't.
This is the best call in the entire thread.
Of course... if either Nagle or Foo was confident in their predictive ability, they would've shorted btc at 5:1 leverage on Bitcoinica and made a fortune. They can still short if they're confident. But I'm guessing they prefer to make predictions without backing them.
Enjoy your euphemism. The rest of us are building stuff.
Enjoy your euphemism. The rest of us are building stuff.
