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That's what happens when you screw over the general public in a giant pump and dump. There is just no more money left to steal. First time was for the early ado
by overcast 8y ago
That's what happens when you screw over the general public in a giant pump and dump. There is just no more money left to steal. First time was for the early adopters at $1000, second time was for the late majority at $19,000. You're not going to see that happen again.
- tom_ 8y agoWhat about $35 and $250?
- overcast 8y agoInnovators. No one really heard of Bitcoin prior to the $1000 pump.
- doubt_me 8y agoReddit heard plenty before 1000$ I was there the week it was released. Lost 100 bitcoins to a hard drive crash and never looked back. They use to literally hand them out like candy. Mt gox happened and I never took it seriously ever again.
- overcast 8y agoIf I asked my mother what Reddit is right now, she'd have no idea what I was saying.
- mcbits 8y agoIf your mother has never heard of Instagram, Netflix, eBay, or Yahoo, that doesn't mean nobody has heard of them. They're still almost as popular as Reddit.
- Max_Mustermann 8y agoInstagram, Netflix and Yahoo are world brands. Reddit is mostly anglophone.
- tomclive 8y agoI lost a batch on MtGox but it looks like I might get something back. I'm quite grateful the trustee sold off a few hundred million dollars worth at around $12k. At least there are some funds available to pay out to creditors.
- mawburn 8y agoSilk Road had been talked about plenty in the mainstream media before it even hit $50.
- nickik 8y agoI learned of it from this very website when it was 2.3$
- overcast 8y agoBy virtue of being of participating in this site, you are operating in a realm that is so far out of touch to most people. We seem to forget that we are definitely in a bubble here.
- arethuza 8y agoWhen was that - early 2017? In mid 2016 mass market newspapers in the UK were running stories about using Bitcoin for holiday spending money - I vividly remember having a discussion with my wife about it.
- charlesdm 8y ago2014-2015-2016 saw _A TON_ of stories about Bitcoin. I still remember reading the headlines "Bitcoin hitting $1,000!", "Bitcoin back to $150-200!" etc. Most people still don't care about crypto
- asdff 8y agoBeing in college around 2014, everyone knew bitcoin because that's how you got your ID for bars.
- booleandilemma 8y agoAt $250 I was explaining to my parents what bitcoin is. At $19,000 I was overhearing Starbucks baristas talk about it.
- mawburn 8y agoAt $4 I was trying to explain to my professor that my capstone project wasn't based on drug money.
- ryanmercer 8y agoAt 4$ I was pissed I traded 150 for WoW gold. AT 10k+ I was once again reminded the universe hates me.
- Brockenstein 8y agoI think that's why crypto-currencies will be doomed. Because too many people see it as something they can maybe buy for a pittance and at some point in the future cash out for a 5,000% increase. It's not currency, people don't want to use it like currency. They want it to be a viable get rich quick scheme. Because whenever you refuse to use it for normal commerce lest next week, next month, next year, you regret your purchase because of huge price swings. Everyone would engage in that sort of behavior and I'm sure it's not the basis for a healthy economy or currency.
- kurtisc 8y ago>AT 10k+ I was once again reminded the universe hates me. Why? You'd have sold them at 150.
- ryanmercer 8y agoMaybe, more likely I would have halved my amount each time I sold. Which is what I did with my cheap ETH.
- Symbiote 8y agoAt something less than 1¢ I was just playing with a thing I came across on some forum, or Usenet, or something. I found the hard drive from that computer a while ago, but there was no trace of the coins. There was no reason for me to keep them, after I'd finished playing with the software.
- strasse86 8y ago"You're not going to see that happen again." I've heard that during the last 4 bear markets. Give it some years it always comes back stronger to absorb fresh money
- parhamn 8y agoFinancial markets retract. Doesn't mean its a pump-and-dump.
- agumonkey 8y agoI know the feeling, but at one point you gotta stop repeating the same thing forever. Bitcoin is not a new thing that will repeat 1000% growth.
- charlesdm 8y agoYou are aware Apple was worth $1tn as a company? $150bn more or less in the grand scheme of things isn't a lot of money, which is about the size of the crypto market. I just don't see banks and institutions (i.e. Nasdaq and Vanguard) building out crypto capabilities to then not use them. They'll market the hell out of them at some point, and the cycle will repeat.
- agumonkey 8y agoOrange/Apple IMO That said I forgot banks were working on crypto currencies. Still I'm tired of bitcoiners ~analysis. Enjoy your ride
- thisisit 8y ago> I just don't see banks and institutions (i.e. Nasdaq and Vanguard) building out crypto capabilities to then not use them Let me start by saying that I agree there will be a repeat. But, the assertion that companies build some capability to always use them is wrong. What companies did was look into a hype cycle and bought into it as the next "cool thing". After sometime they will forget it even exists. And move on to the next "cool thing".
- 8y ago
- DJBunnies 8y agoWanna bet?
- wufufufu 8y agoAdd some volume statistics to this comment
- ojr 8y agoI sold around $14k after holding for years, and I was thinking about placing a short at $6500 but decided not to, the best traders in this space make money on the way up and down
- asdff 8y agoHow do you know how to position if up and down is determined by random bouts of speculative buying? Or in this case, egos clashing in a completely different crypto. There is so much more data and tangible information to guide you with traditional investments which may also have their speculative runs, but are more often based on the objective success of an asset that can be easily estimated, determined, and predicted.
- checkyoursudo 8y agoAt maybe $10k on the way up, my 70ish y.o. dad (40 years as SWE) said that all the young guys in his department were talking about something called Bitcoin. I said, dad, you better not. He said, don't worry, I won't. At $10k on the way down, I asked him if he did. He said he didn't, but a bunch of those young guys did. (I don't remember the exact value. Probably actually more like 12 or even 15.)
- otakucode 8y ago'Early adopters' at $1k. Haha. I can't help but laugh, after buying into bitcoin at $3.30.