If my understanding is correct, most bitcoin bulls are on shrooms?

Or for $100. We'll see

That's why bulls prefer log charts, to disguise the obvious bubble

Bulls have taken down Bitcoinwisdom because it was all in red.

They will buy later... .. buy cars, yachts, houses, booze, hookers,
while losers will keep holding

Wrong. Most people want to have as much fiat as possible. They see bitcoin only as a tool to produce fiat, if it fail to do so, they'll simply leave it and forget it.

Bulltards reaction to your comment

Stop spreading FUD,

ChartBuddy = bear troll

lol, are you Slovenian? Your English is pretty bad considering most of the Slovenians speak English fluently.

I smell another dump in the air. I doubt 330s can be sustained much longer.

Interesting how popularity of this forum is so correlated with the price.
Meaning, people are more interested in bitcoin while it is more expensive than while it's cheap. Isn't that ironic?

Does that mean they're not truly interested in bitcoin, but only in dollars?

Spot on, this guy say how it is. As I can see by the comments here, delusional cultist weren't even able to watch the video to the end. Truth is too painful

That's a big "If"

Nobody knows for sure, market is to small and easily manipulated, but the problem is you WISH it will go up. You're not objective and you can't see the reality. The fact is there is a strong downtrend, it is more likely it will go down than up. I'd say there is 80% in favor of 200s to be see first than 400s which are about 20%.

Yep, you got me, it's a conspiracy

It'd be in single digits, where it was before the media hype and speculative bubbles.

In 10 years bitcoin will be in single digits or less, traders will be long gone with your money, and you'll be left holding bag.

Manipulation was the price increase. This corrections are market forces trying to go back to normal.

That awkward moment when on page 10 thousand people talk about being early adopters and bitcoin being a new thing.

Hodl like a boss is an oxymoron. If you're hodler you're by definition loser.

Hodling = injecting your money into system, without ever claiming it back.

They are, unless they sold their coins for profit, or bought something with them with their increased purchasing power.
If they were hodling all the time, if they never utilized the price increase, yeah they're losers until their realize their profits (but then again, if they do that, they're no longer hodlers).

So basically you're hoping new suckers join, so you can profit at their expense?

Even if you intend to spend them, you hope their purchasing power will be greater than fiat's you invested in it. So, then again, you hope newcomers will increase your purchasing power (=you profit at their expense)

World doesn't owe you anything, just because you're investing and taking risk it doesn't necessarily guarantee reward.
Apple and other companies at least actually produce value, pay dividends and legally exist, can be sued in case they do something wrong.
Same cannot be applied for bitcoin. It doesn't produce extra value from it's clients or consumers, all of its value comes exclusively from other investors and hodlers. It's mathematically impossible for everyone to profit, so if someone made a profit and got richer, someone else has to lose (even if he doesn't know it aka. hodling).

If you think bitcoin is correlated with macroeconomic events you're beyond delusional.
Are you one of those who believe April 2013 bubble was caused by Cypriot people fleeing to bitcoin, instead of that crisis being an excuse to make a pump?

That guy is among the most knowledgeable and most sane members in here.

Fiat or no fiat, people are always the same. They always try to abuse things and have profit to the maximum. Just human nature, believing bitcoin is any different is insanity.

Coercion and law is what gives fiat value. Maybe not moral, but surely gives more faith to average Joe than internet funny money like bitcoin scheme.

JimboToronto = local bag holder

It looks like 107 of us who voted <370 will be right.

If you wanna call reversal from this bear market, $470 (september levels) need to be broken at least, and to be sustained for at least a week. So far, 400s can't last even for a day, even after a pump.

Stop spreading FUD, you bear troll.

Ignored.

That mentality will get you nowhere in life. You're too emotional and you have gambling state of mind.

Right now, you're better off betting your money on a single number in roulette and get 3500% return on your investment if it hits, because chance of hitting a number is 2,7%, while chance of bitcoin being a $10k plus anytime soon is much less.

BitStomped

276.66

Coincidence?

15m chart on BTC-e looks very similar to 1w chart

Offtopic question,
How do I chose avatar picture on this forum? I tried to put Kodrić, Karpeles or Jeff Robinson on my profile picture but it doesn't work, how do I do it?

That explains why so many people are still stuck with exactly the same looking avatar, shiny looking bitcoin logo...

This forum is just a reflection of its subject.

There are more reasons to be sceptical about bitcoin than just a stupid avatar issue. If that is what lead you to be sceptcial about bitcoin, you're a bit slow. It was doomed already before that!

Bulls (bag holders, scammers, early adopters, cultists, trolls) want you to believe that.
Just look at this topic https://bitcointalk.org/index.php?topic=767255.0
There should be crazy strong buying pressure below 300, but guess what, nothing happens. Bubble is still deflating. Paying almost $300 for internet funny money is still ridiculously overpriced.

Lol, why is area below 0 also highlighted in green? To disguise the magnitude of bubble?

Unlikely. Permabulls have the same mentality as gold bugs, they're incapable of changing their beliefs or learning.
They have religious state of mind toward their investment, blame it on everyone else, come up with conspiracies and excuses, and usually are being arrogant and condescending to people who are trying to talk sense to them.

Bulls right now

You've been warned by many people here, but you ignored them and labeled them as trolls

There's no way he's Russian, from writing it's obvious English is his first language.

Here are some of the fiat supporters:

Currency is supposed to circulate, not to be hoarded or hidden under the mattress. It's not expected to rise in value.

You people should stop following Mises and Austrian economics. We're no longer in gold standard, you should learn how modern monetary system works before writing nonsense.
 

Myth #7: We’ll end up just like Weimar Germany or Zimbabwe.
Reality: Hyperinflation in both countries was caused by circumstances far different than ours.

The minute you challenge the assumption that the government should not spend when it has a large deficit, out comes the charge that we’ll get some horrible hyperinflationary outcome like Weimar Germany or Zimbabwe.

Yes, once the economy gets to full employment, then extra government deficit spending can start driving up prices. But what happened in Weimar Germany was very different. During that time, the government was forced to pay extremely large war reparations in foreign currencies which it didn’t have. So it had to aggressively sell its own currency and buy the foreign currency in the financial markets. This relentless selling continuously drove down the value of its currency, causing prices of goods and services to go ever higher in what became one of the most famous inflations of all time. By 1919, the German budget deficit was equal to half of GDP, and by 1921, war reparation payments represented one third of government spending. And guess what? On the very day that government stopped paying the war reparations and selling its own currency to buy foreign currency, the hyperinflation stopped.

In Zimbabwe, the situation is also very different from ours. There, the conditions for hyperinflation were caused by the destruction of nearly half of the country’s domestic food production via misguided land reforms, plus a civil war which eliminated much of the economy’s productive manufacturing capacity. In response to food shortages, the Bank of Zimbabwe used valuable foreign exchange reserves to buy imported food, leading to a lack of foreign currency to purchase essential raw materials. Manufacturing output collapsed, but the government used much of the remaining foreign exchange to dole out political favors, rather than adding to the country’s productive capacity. The end result was inflation and then hyperinflation.

In the US, hyperinflation will not be an issue if the government spends while it has a large deficit because with high unemployment and unused yet functioning factories all across the country, there is plenty of room to cut taxes and/or increase spending to get us to full employment. This is true no matter what the size of the federal deficit. Ultimately, inflation (and then hyperinflation) is about competing distributive claims over real resources, such as oil, gas, water, etc. A “sustainable” fiscal policy, especially with respect to hyperinflationary risks, then, is really about both the establishment of full employment and the implementation of well-crafted policies which deal with the constraints created by, for example, depleting natural resources.

~Marshall Auerback, Senior Fellow at the Roosevelt Institute and Rob Parenteau, sole proprietor of MacroStrategy Edge

MYTH #8: Government spending increases interest rates and ‘crowds out’ valuable private sector investment.
Reality: Banks can lend essentially without limit, and the Fed can hit any interest rate target it chooses.

Ask an economist what determines the interest rate, and she’ll probably mutter something about supply and demand or “market forces.” Ask the same economist what determines the level of saving and investment, and the answer probably won’t change very much. This is because most economists were trained using textbooks that have not been rewritten since the United States went off the gold standard after WWII.

Back then, we had a monetary system that really did limit the growth of the money supply, and too much government spending really could force rates higher and crowd out other forms of spending. It is all based on something economists know as Loanable Funds Theory, which describes a market in which there is some limited pool of savings available to satisfy the demand for credit. Thus, deficit spending required the government to compete (with private borrowers) for a portion of these limited resources. Because the capacity to lend was constrained under the gold standard, the added competition could drive borrowing costs (i.e. the interest rate) higher.

Decades later, the monetary system looks completely different. But economists continue to treat governments as if they are the users of the currency (as opposed to the issuers) and to treat banks as passive money lenders — there simply to broker deals between savers and borrowers. In truth, banks can lend essentially without limit, regardless of what the federal government is doing, and the Federal Reserve can hit any interest rate target it chooses.

~Stephanie Kelton, Associate Professor, University of Missouri-Kansas City, Missouri



Here is more about the subject:
http://my.firedoglake.com/selise/tag/stephanie-kelton/


Here interesting video in short if you don't have time to read much:
https://www.youtube.com/watch?v=zGen5o6vAmw

Well, he guessed the direction right, but timing was a bit off. Price is 70% down since then, so this is more accurate prediction than someone who predicted the price to still be in 800s.

I guess there are different definitions of cheap coins.

"I used to consider him a smart guy and I never, ever thought he would succomb to basically being brainwashed by a bunch of clueless idiots on the internet who seem to know absolutely nothing about finance or the real world. I don't know how familiar people are here with bitcoin but if you go to their subreddit, you will see exactly what I'm talking about. I started crying once reading my husband's comments worded slightly differently, repeated 100 times over. It was like I married a parrot."

Spot on.

Not much price action...

Someone should open a poll, and the result with more votes - the opposite will happen

 

You guys got opportunity to sell at a higher price, don't waste it hodling.

Lol, you read Zerohedge. They have a gold pumping agenda, there is 10% good stuff and 90% total doom porn crap. Joke of a site.

We should definitely listen to inca, he's got a good track record

I didn't say nasty things to you, just quoted you to make people aware whose advice they're taking.

Thank you for providing liquidity and injecting your fiat into this naturally occurring ponzi scheme. Bitcoin needs people like you (suckers).

How about you refute them? His points seem valid to me.

Went through your post history, bunch of MOON, CCMF, HODL in bold, large font and colored,
pictures of trains and rockets and other bullish spam.

You're the definition of troll, ignored.