Quote from: Technomage on October 18, 2011, 10:30:43 AM

What the bottom will be is a good question and it's an important question for many. We're reaching the stage where most of the bears are slowly starting to think about actually missing the bottom which means the bottom will undoubtedly be higher than what the majority of bears think it will be.

It never works like this. Nobody "worries" about missing a "bottom" any more than they "worry" about missing a "top." People generally follow the prevailing trend. Once there's an uptrend, people will start getting concerned about missing out on the ride up. Brownian motion near support and resistance levels doesn't matter.

I get a good laugh about you being concerned about revealing your positions. Nobody cares. And I can guess -- you mined and didn't sell, so are now long a few bitcoins at a buy in price of around $3 (factoring in hardware depreciation).

Even with free power there's the opportunity cost of not selling your mining hardware to buy bitcoins with it. Even now my 2x5830s, if sold for $80 each on ebay, would buy more bitcoins than they'll profitably mine at current levels. Expecting higher profits in the future is speculating and can be done through direct buy more efficiently. There's replacement cost for hardware failure. You may judge deepbit an invalid indicator of community sentiment but it's served me well so far.

grod

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