Quote from: TwinWinNerD on August 02, 2014, 08:05:56 PM

Quote from: Razick on August 02, 2014, 06:51:38 PM

Quote from: Edward50 on January 03, 2012, 06:58:19 PM

I see too much blind optimism. Everyone thinks bitcoins will rise to the moon again.

Remember some points.

1) Bitcoins are as useless now as they ever were

2) Bitcoins are not a commodity, they are not consumed. Everyone who bought on the way up, needs to eventually sell them.

3) The market is very tiny, and is growing slowly at best.

4) 5,000-7000 new bitcoins come into existence every single day.

5) Most people sit with bitcoins on a rally, but eventually it will stall and they will start selling. This will push the price back down.

6) Obvious signs of price manipulation for the pushes. Is it someone using the push, rinse and repeat strategy playing on many of blind optimist suckers?

7) Now that the price has been potentially manipulated higher, will the manipulators keep shelling out their cash to try and hold the price high?

Cool

Anybody who wants bit coins already owns a substantial number of these useless coins. Will they keep buying more to help maintain a high price? Who are the new suckers coming into the market now and buying them?

9) Market depth supporting the now $5.00 price is looking very weak on mt. gox.

10) Last but not least, who the hell is stupid enough to pay $5.00 now for a bitcoin?

I have always been a bear, but I've never been more optimistic:

1. You couldn't buy a Dell computer pay the TV bill 6 months ago.

2. New buyers are always entering the market. I sold my friend Bitcoin a few days ago. He's a first time buyer.

3. The market is small, with huge potential for growth.

4. Which is probably the only thing holding the price down.

5. What do you think has been happening the past few months?

6. Maybe, but that doesn't mean much long term.

7. No, and manipulators don't profit by holding the price up. They profit by creating volatility.

8. I don't own much, and neither does my friend. I am buying every month and I've bought three times my normal monthly amount this month.

9. Woah, I didn't realize how old this post was! I'm referring to the current $600 pricing. I guess they weren't so stupid, huh?

10. I'll buy up to 21,000,000 BTC at $5.00 if you are willing to sell.

Do you guys just plainly ignore that the original post is from 2012? Huh

??

Nope, see #9. I noticed, but only after I was nearly done writing.