I used to think that Reddit was a place I didn’t like. I’d never really used the website before, but I was familiar with the system it used from being on Digg many years ago (just as an observer).
I used to say in reply as to why I don’t use Reddit, that I primarily didn’t use it because of the upvote/downvote system. I would explain that whilst it does bring interesting information to attention, having such a voting system censors individual opinion, and instead favors ‘witty one-liners’ that wouldn’t offend anyone (sanitized opinions).
Now that I’ve been using Reddit for a while, to goad the fools on r/Bitcoin, I’m more convinced than ever of what I suspected to be true.
Case in point:
The goyim never learn..
I remember after the last crash they rationalized that MtGox will be soon replaced by a multitude of reliable exchanges.
Welp, 7 months later and MtGox is by far the largest exchange (even without it’s foreign subsidiaries), with only 3 or 4 other major players (such as the shady East-European BTC-E)
Trade on p2p exchanges like LocalBitcoins is only equal to about 1% of MtGox’s trade volume
And surprise, surprise, MtGox is giving out 501 gateway errors and lagging by up to half a minute or so per trade again.
I get more and more bullish on silver by the day
I still think we’re pretty much at the bottom right now, at least going by what I see here (this is a chart set on weekly data)
The moving average is the only thing that makes me think otherwise. The 50-day moving average is still below the 200-day moving average which signals we’re still in a negative trend for some time to come.
Been so wrapt up in the Bitcoin discussion, I forgot about the Cyber Monday specials
Time to buy!
One of my posts made it to the r/Bitcoin front page
$860.. this could genuinely be it
Bitcoin down 22% off the high, below $1000 and dropping rapidly
Could this be it? It did go down to $450 from $900 before though, so only time will tell