Bitcoin - Part 2

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Forgive my ignorance, but bitcoin seems to be a crypto currency liable to a currency crisis at the moment, if not an international currency crisis.
 
Belz... said:
Indeed, and as I said, based on a single, alledged mistake he made once. Nobody who's not an idiot ever makes mistakes, right? You wouldn't have ever made a mistake, would you?

This pileup of excuses to avoid admitting to being wrong are hilarious, but at least I know it's because you don't want to think of yourself as an idiot, according to your own logic.



Here it's my turn to ask you what you're talking about. Please present your evidence that I am worshipping him. This should be very amusing.
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Wow. This issue has really got you steamed.

I used phrases like "Nouriel who?" or "some guy on the internet" not because I was mistaken about his qualifications but because he makes comments about a subject that he clearly has not researched. I have seen many professional economists dismiss bitcoin over the years simply because it was the first time they had heard of it.

A true professional is somebody who does not think that playing the "expert" card is a substitute for research or sound arguments.
 
psionl0 said:
Wow. This issue has really got you steamed.
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I have a hard time seeing how me finding something hilarious is interpreted by you as me "steaming".

I used phrases like "Nouriel who?" or "some guy on the internet" not because I was mistaken about his qualifications but because he makes comments about a subject that he clearly has not researched. I have seen many professional economists dismiss bitcoin over the years simply because it was the first time they had heard of it.
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Well then your meaning wasn't clear to me. Carry on.

A true professional is somebody who does not think that playing the "expert" card is a substitute for research or sound arguments.
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I'm not aware that he's done this. Some poster here called him an expert, leading to your earlier response.
 
Eddie Dane said:
We're at $7171 now but touched $5850 earlier today.
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The price may not have bottomed out yet.

One thing about bitcoin that may be different today compared to the past is that it now has main stream media attention. Up until recently, most people had never heard of bitcoin but now it's all over the news. In fact, in the finance section of the daily local news, as well as quoting the prices of major stocks and currencies, the price of bitcoin is also included.

What effect this might have on future bitcoin prices is still anybody's guess though.
 
psionl0 said:
The price may not have bottomed out yet.

One thing about bitcoin that may be different today compared to the past is that it now has main stream media attention. Up until recently, most people had never heard of bitcoin but now it's all over the news. In fact, in the finance section of the daily local news, as well as quoting the prices of major stocks and currencies, the price of bitcoin is also included.

What effect this might have on future bitcoin prices is still anybody's guess though.
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$5500 was where the last big rally started, it may have been seen by investors as a rational point to step back in.

I think it will start to decline soon.

But there is no real way to predict where it ends. My prediction of $3000 is based on nothing but my guestimations.
 
psionl0 said:
... Up until recently, most people had never heard of bitcoin but now it's all over the news. In fact, in the finance section of the daily local news, as well as quoting the prices of major stocks and currencies, the price of bitcoin is also included.

What effect this might have on future bitcoin prices is still anybody's guess though.
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That newsworthiness is a perennial feature of speculative manias, and is in fact one of their defining characteristics. It's what makes this boom in Bitcoin different from the previous ones you have been comparing it with.
 
Fudbucker said:
Huh. So I'm just guessing when I predict the sun will set in the West, rather than the East?
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:thumbsup:

Unless there is a revolutionary paradigm shift! ;)

A group in charge of definitions and naming conventions may just decide to rename the West and call it East. Predictions are funny - just when you think you have spotted a trend, something messes it up.
 
Much like what happens when I bet in roulette, whatever I think is going to happen does not happen. I honestly thought BTC would be below 6k by this time and here it is rebounding to over 8k. I do notice that Samson has not chimed in on BTCs movement so I assume the algorithm didn’t have much to say about the current status. If I had bought when it was hovering at $6500 and sold right now around $8500, that would have been a nice percentage gain.
 
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