Quote from: marky89 on September 03, 2014, 05:21:29 AM

Quote from: Newbie1022 on September 03, 2014, 05:18:39 AM

Quote from: windjc on September 03, 2014, 05:12:06 AM

Quote from: Xiaoxiao on September 03, 2014, 02:44:47 AM

I'm going to make the call right now, and this isn't coming from some troll. But I believe bitcoin will hit sub $100, possibly sub $50 before anything further interesting develops. By all means, as a trader, I wish it hits $5000 or $10,000 in the next 3 days. But I just don't see exponential development in the near future... the long run, who knows though.

I mean, wall street thinks bitcoin is overbought, overpriced, unsustainable. The average citizen isn't crazy about bitcoin at all. You ask the average Joe if they plan on buying bitcoin in the future and you get a melancholy "no". You ask a smart ass in the streets about bitcoin and his answer is "the [expletivie] is that?" You explain it and his response is well that is "[expletive] stupid".

Institutions are already in on it. Speculators are looking to make a quick buck only. Then there are cultists, which is a super minority, and they believe in a whole bunch of unrealistic possibility. The problem with mass adoption is that why would someone go through all this trouble to buy bitcoins, only to spend it on a blu-ray player they could have just bought with their visa.

It seems like only select intelligent people truly believe in bitcoin, and intelligent people are few and far between in this world.

Then have you gone all in on a bitcoin short? Because if you really believe this you can make 90% return on your dollar. Since your a "trader" and all.

I actually did exactly that this afternoon.

while i think there's a good chance there is more down from here, i think it's very risky to short here. i had a short from low 510s and closed it too early, but i can't risk opening again down here. too many people shorting. gonna get squeezed.

Yea, I have a stop loss around 488 (I'll reassess then if we go up before we go back down)... not very high at all... I don't care to risk getting totally raped on a bounce back, but the general sentiment is down and if we drop hard enough margin calls will take care of the rest... so on the reward side it is pretty reasonable.