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

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.

Quote from: MatTheCat on April 13, 2013, 04:18:25 AM

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Of course, what the hell do I know, I never seen the bull explosion coming so I dont know what makes me qualified to the near term future in Bitcoin now.