Anyone else getting the 'Told You So!' 'treatment' in work today?
Bitcoins 50% decline on front page of BBC. Can't even be bothered to answer most of them now.....just confirms my thoughts that we are all still early adopters and any price is a good price at the moment.
It amazes me how difficult some people find it in life to give credit where it is due. I guess it's just a lot of embarrassment kicking in now for the bulls who did nothing but mock bears for the past 2 months for attempting to be rational about the situation we were currently in. If anything this recent rally has taught me who in this thread is the day dreamers, the shit talkers and those who are blatantly blind based on their investment. Bitcoin does attract a strange group of folk, I must say.
So many bears in here its crazy. Please tell me one good reason that doesnt involve an imaginary line why the price is going to go down farther than it already has?
Edit:
Heres an imaginary line.
It's almost as if you're personally offended by the fact that we think price is going to go down further. Are you maybe a tiiiiny bit overinvested?
Re: your graph. Yes, I agree, that's a possible line of support. Will it hold? I don't know. I wouldn't bet on it
It's a common theme felt by 'bears' on these forums. Bulls are often offended at someone for being objective whilst evaluating the possible direction the price could be heading. I believe it was someone in this thread that said bitcoin has an amazing ability to exceed expectations both up and down. We should never allow our personal invested position to cloud our judgement when attempting to rationally evaluate the situation.
In response to lebing, As you are obviously a bit bullish, perhaps the burden of proof during this price decline is for you to prove to us, why we should start thinking the price will stop going down, and start going up? Something more helpful than an imaginary line would be nice!
does that mean that being bullish is not healthy? i thought that its been very good to be bullish and back it up with fiat, that's what is made most money to people?
Don't you dare stop shouting 'to the moon' gandhi, otherwise planes will fall out the sky and clocks will stop ticking. Your the bull that all the other bulls go to when they need a bull pep-talk!
Wow, spent the whole weekend up at the in-laws farm, no cell signal or internet, only getting snippets of the action every 2 hours when I held the phone up high and prayed.
Looks like you guy's have had some fun over the weekend.
I thought he had some sort of unbeatable strategy that he was selling for 111 btc
Aren't those big looses always fake? as in, the guy part owns the website so technically loosing to his own business and drumming up shit loads of free advertisement at same time?
"The watchdog has been studying virtual currencies for three months and is still considering whether they can or ought to be regulated. It has powers to ban them, though questions remain over how this could be done in practice."
Consumer protection, always. "We scare you, we protect you, oppose and we will crush you. The real question is, is bitcoin a risk for us?. Screw the public."
They have studied it for 3 months. That should be enough to "get it". They, as individuals, are probably now in load-up mode with borrowed money. 150 % BTC, -50 % fiat is the goal.
It has powers to ban them?
If it had any teeth to it's bark it wouldn't be allowing pay-day loan company's to get away with giving loans to children and charging people 5,853% APR. I wouldn't take them that seriously to be honest.
"The watchdog has been studying virtual currencies for three months and is still considering whether they can or ought to be regulated. It has powers to ban them, though questions remain over how this could be done in practice."
So I am contemplating to reduce/leave the forum for a few months. I have also other projects. Thoughts?
As a businessman who's priority is to make money money then the thoughts of some strangers on a forum should be irrelevant. If I were one of your client's I wouldn't be happy that you were neglecting your 'other projects' to engage with trolls on a forum
Even as a short-term bear I could see last night coming a mile away. It's a basic rule that the price crashes when everyones going to the moon, so with bitfinex totally shorted out last night and everyone expecting the drop, what was there left to do but buy back in when it didn't drop, now we're back up at the high 900's when we were almost finding a stable platform at high 800's low 900's. This bull/bear yoyo'ing could go on for weeks now because there wont be another rally for a while most likely.
I'd give it a day or two... THIS IS SPART... errr.. I mean Bitcoin.
I honestly can't see it Macsga, I mean the kind of mentality we have just now is like 'well we're up at ~900 now, so we may as well just rally up to 2k! lets go!', but in fact the rally which brought us to ~1240 and thus ~900 was several months of built up pressure and many positive factors including China, regardless of whether China was exploiting the ability to make quick bux through arbitrage or criminals were using it for laundering or just people in China getting on board. I think we have squeezed all of the juice out of this current 'bitcoin bull period' and to take it to the next level will require a slow period of a month or two to let the pressure build up again before the next explosion.
Hey, I remember this argument... at $600 after the first correction.
We have no idea how much "pressure" is left.
At $600 the 'trends' were still peaking (as much as I hate to depend on trends), the media was still pumping the bitcoin propaganda and people's interests were being piqued.
Now the trends are down, the media has been saturated (something thats hard for bitcoiners to accept, what people actually would just ignore our bitcoin arcitles???) and we are yesterday's news.
As far as not knowing how much 'pressure' is left. It's pretty obvious, we've been flapping off this ~1k resistance like a wet fish for for a while now, the only pressure that's left is in bull's heads.
Even as a short-term bear I could see last night coming a mile away. It's a basic rule that the price crashes when everyones going to the moon, so with bitfinex totally shorted out last night and everyone expecting the drop, what was there left to do but buy back in when it didn't drop, now we're back up at the high 900's when we were almost finding a stable platform at high 800's low 900's. This bull/bear yoyo'ing could go on for weeks now because there wont be another rally for a while most likely.
I'd give it a day or two... THIS IS SPART... errr.. I mean Bitcoin.
I honestly can't see it Macsga, I mean the kind of mentality we have just now is like 'well we're up at ~900 now, so we may as well just rally up to 2k! lets go!', but in fact the rally which brought us to ~1240 and thus ~900 was several months of built up pressure and many positive factors including China, regardless of whether China was exploiting the ability to make quick bux through arbitrage or criminals were using it for laundering or just people in China getting on board. I think we have squeezed all of the juice out of this current 'bitcoin bull period' and to take it to the next level will require a slow period of a month or two to let the pressure build up again before the next explosion.