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> What can you do? > Like our favorite author here at Tibanne says… Don’t Panic! > “Panic-selling is a wide-scale selling of an investment which causes a shar

by skore 14y ago

> What can you do? > Like our favorite author here at Tibanne says… Don’t Panic! > “Panic-selling is a wide-scale selling of an investment which causes a sharp decline in prices.[...]” (Source: Wikipedia) But... But I want it to crash! Just a little! So I can finally buy lots of bitcoins myself!

lucb1e 14y ago
I want it to crash too! Like, drop to half the price and then http://3.bp.blogspot.com/_JZ0rN-zdg2M/TU_NRnvhGfI/AAAAAAAAAF8/XqZUhPrSz90/s1600/dagobert_duck.jpg http://3.bp.blogspot.com/_JZ0rN-zdg2M/TU_NRnvhGfI/AAAAAAAAAF...
- viraptor 14y ago
  I don't think it can crash anymore. Not like the last time anyway. Too many people know that the price will go back again and want this to happen. (me included) What that means in practice is that some people will buy after 5% drop, more after 10%, even more after 15%, etc... I don't believe anymore that we can have a proper crash in this situation. If we do, the price will bounce back in a matter of seconds. I'm probably not the only one keeping an open order to buy as many bitcoins as possible at below £5. Lack of sell-stop orders on mtgox also means there's nothing to balance them out (apart from automatic trading).
  - davidw 14y ago
    A lot of people wanted tulip prices to rise again, as well.
    - buro9 14y ago
      Any day now
    - viraptor 14y ago
      I agree on the bubble phase being similar, but disagree on what would happen afterwards. Tulips becoming cheap meant that everyone suddenly had access, but the amount was still more limitted than in case of BTC. Also the time of each transaction was not even close to what happens at mtgox. There are thousands of orders just waiting to be filled the moment the price moves. On the other hand physical goods shipment took weeks/months. So while both events may have a similar cause/progress... there's a huge difference in how the market itself works.
      - eterm 14y ago
        Actually they would trade tulip futures and, critically, options, which allowed for quick trades and leveraged speculation.
  - curtisholmes 14y ago
    to me, the surest sign of an impending crash is when people start to think something is infallible
- saraid216 14y ago
  You should really photoshop those dollar signs into bitcoin symbols.

by skore 14y ago

lucb1e 14y ago

I want it to crash too! Like, drop to half the price and then http://3.bp.blogspot.com/_JZ0rN-zdg2M/TU_NRnvhGfI/AAAAAAAAAF8/XqZUhPrSz90/s1600/dagobert_duck.jpg http://3.bp.blogspot.com/_JZ0rN-zdg2M/TU_NRnvhGfI/AAAAAAAAAF...

viraptor 14y ago
I don't think it can crash anymore. Not like the last time anyway. Too many people know that the price will go back again and want this to happen. (me included) What that means in practice is that some people will buy after 5% drop, more after 10%, even more after 15%, etc... I don't believe anymore that we can have a proper crash in this situation. If we do, the price will bounce back in a matter of seconds. I'm probably not the only one keeping an open order to buy as many bitcoins as possible at below £5. Lack of sell-stop orders on mtgox also means there's nothing to balance them out (apart from automatic trading).
- davidw 14y ago
  A lot of people wanted tulip prices to rise again, as well.
  - buro9 14y ago
    Any day now
  - viraptor 14y ago
    I agree on the bubble phase being similar, but disagree on what would happen afterwards. Tulips becoming cheap meant that everyone suddenly had access, but the amount was still more limitted than in case of BTC. Also the time of each transaction was not even close to what happens at mtgox. There are thousands of orders just waiting to be filled the moment the price moves. On the other hand physical goods shipment took weeks/months. So while both events may have a similar cause/progress... there's a huge difference in how the market itself works.
    - eterm 14y ago
      Actually they would trade tulip futures and, critically, options, which allowed for quick trades and leveraged speculation.
- curtisholmes 14y ago
  to me, the surest sign of an impending crash is when people start to think something is infallible
saraid216 14y ago
You should really photoshop those dollar signs into bitcoin symbols.