Quote from: gizmoh on March 28, 2014, 04:33:09 PM

Quote from: oda.krell on March 28, 2014, 04:16:13 PM

Quote from: billyjoeallen on March 28, 2014, 02:08:04 PM

Quote from: TERA on March 28, 2014, 01:48:38 PM

There has to be a counterbalance to all the cultish posts of the always-bullish people who think that prices are always going straight to the moon tomorrow regardless of any and all TA and that every unfavorable event is always made up.

It was us cultists who kept this project alive when it dropped from $32 to $3 and stayed there for a year. The fraction of investors like me who will willingly go down with the ship are the support base that gives BTC what some call "intrinsic" value. Without us, this really would be a Ponzi Scheme. Contributing to positive change in the world is just as important as ROI.

You know what? I give you that. I think it was Rampion who put it as something like "the hardcore (cultists) provide the base value, the traders/speculators add the volatility/spikes".

So, yes, those of you who are willing to go down with the ship, I pay my respect to you...

But this is the fucking speculation subforum. And, as you would expect by the name of it, speculators are not, by and large, interested in going down with the ship. And that's what pisses me off: not that the "cultists" are sitting this bear market out, but that they're shouting down those who discuss how to profit from the market conditions.

This reply deserves an award. GTFO from this thread noble cultists!

I have no problem at all with speculators with no ideological bent. The good ones add liquidity when it is valued and absorb liquidity when it's not. The bad one's give me and the good ones money. The beauty of Bitcoin is that you don't have to believe in it for it to work. However it you don't believe in it, then you are likely to bail when coins are too cheap and end up being a bad speculator.

As for profiting from market conditions, the market is sending a signal that may or may not be a false signal concerning Bitcoin's future in China. As time goes by, I think it is more and more likely that the signal is false. The PBoC has not confirmed or denied the rumor. I think denying rumors is probably lower on their priority list than confirming actual policy decisions so no news is likely to be good news. Now markets hate uncertainty and this definitely qualifies, so this may be a buying opportunity. Maybe.