Quote from: MatTheCat on February 23, 2014, 11:33:27 PM

Quote from: alpha492 on February 23, 2014, 11:10:43 PM

You win some you lose some, don't blame the market for acting in a way you think isn't logical, it's a natural system and like anything else in nature you don't get to tell it what to do. Try and it will chew you the fuck up and spit you out.

U as much as anyone else must know that Bitcoiners are overly starry eyed about their little lines of computer code that consist of the digits in their wallets. Have a look back over practically every bear v bull poll on this forum since Jan 2014. Bulls outvote bears every single time by a large amount, yet the market keeps sliding down the way. This proves the old market adage of the majority of investors tend to lose money. This is because the majority are stupid, especially in Bitcoin. In this sense, it is no surprise at all that capital has piled into MtGox in order to take advantage of 'cheap coins'. Now we even have a secondary market where some dude (I presume) is willing to pay ~50% of the Bitstamp rate for Goxcoin.....which may be the reason for the Gox price being pulled back up to ~50% of normal BTC price. To me, the very best that can happen is that MtGox allows limited withdrawals....but this is the very most positive imaginable outcome. More likely is that they are insolvent are slowly drowning, but buying time to organise themselves and fill their pockets as much as they can before the curtains come down on MtGox once and for all. In this light people pouring capital into Gox is sheer insanity. My brother did once make a small fortune buying into crashing bank markets around 2007.....but he done so in belief that Governments would bail the banks out. Who is gonna bail Gox out? Has Karpeles made up Gox's shortfall enough by crashing his own market and arbing the fk out of cheap coins by taking them over to Bitstamp? Is he going to bail Gox out with his ill gotten gains?

The only healthy attitude of any trader in market other than an out and out bull-run, is to harbour a healthy disdain towards human stupidity and profit from it. That is how it is. Financial markets are nasty places. TERA has perhaps slipped up (as I would have also), by underestimating precisely how stupid and irrational this particular market is capable of behaving. Problem with Bitcoiners is that they can behave so dumb, that you have to pinch your arm to remind yourself that it's real. Most sensible people would have trouble bringing themselves to trade on the premises of a market behaving as dumb as the Bitcoin market can do and this in itself can be frustrating. That is all.

I'm going to run with that last point you made. For the longest time, people haven't been able to get fiat out of gox. Now people can't get BTC out of gox. Why did people on gox keep selling BTC right down to 1/5th of the price everywhere else?

They can't get the fiat out. So why sell?

My opinion is that this is a perfect example of the 'stupid and irrational' that you are talking about. That's where opportunity lies. I'm not going to pass on that chance.

The fact that the resident trolls are all coming out of the woodwork to make vitriolic posts that merely reveal a deep sense of self-loathing. That's another great indicator. You do well to be cautious shorting now.

There could be opportunity sure, and if you make some money doing so, then good on you. I hope you don't lose. That's the difference between me and people like revans. I don't need everyone else to lose to make myself feel better.