Bitcoin Forum

CNN : Bitcoins are worth less than $15 apiece.
http://buzz.money.cnn.com/2013/04/05/bitcoin-bubble

Well, that the the economist's opinion.  Everyone has an opinion and everyone has a sphincter.  The only question becomes whether or not it stinks.

That is good financial advice. Sell your assets for $15 when the market is supporting $130+ sales.  ::)

http://i.cdn.turner.com/money/.element/apps/cvp/4.0/swf/cnn_money_384x216_embed.swf

CNN is trying to buy btc at cheap prices while doing FUD, shame on CNN.

Im feeling generous so Ill buy his bitcoins for 20 a piece...

My favorite quote:

"I could understand a long-term uptrend based on worries about paper money," he said. "But there's no real catalyst for the market to go up as vertically as it has."


Not to mention europe financial crisis.

lol, because the world economy is going so swimmingly?
And why $15USD? No explanation of that valuation. I guess that is just where his hand landed as he groped around his anus for a number.

And of course there's the "gold and silver prices should rise in tandem" speak, despite the fact the spot price is influenced by paper futures, not actual physical supply/demand on the street. Besides, it appears there's very little PMs "on the street" to begin with. Can't hoard something that stores don't sell.

+1

for "swimmingly"

the bitcoin is a bubble and the worlds banks are save and not corrupt! the financial crisis dont exists and everything is fine :)

shame on this experts and analysts, this lobbys are trying only to make the people afraid! take a look to the offshoreleaks now than you know where the world is going, i wonder every day more why all this bankster gangster guys are still not in prison.

I'll pay USD 22!

Was that the financial department of CNN or the joker department?

Lets go back to our kindergarten finance basics, CNN.

Basic rule of financial markets (or any market for that matter):

an asset is worth at a given moment what the market says it is worth at that given moment. No more and no less.

It doesnt matter a fig what financial analysts or CNN or anyone else thinks it "ought" to be worth.

Leave them fuck around. They all just realized this is the future of money and none of their so-called experts predicted shit. They have been boxed in their own little world of scam and fraud for too long. Now it hits them and they are trying their sly methods of pushing the price down, which will prove to be impossible looking at how valuable Bitcoin is as an asset.

I am honestly laughing my ass off here, watching the self proclaimed experts, bankers and financial guru being completely and utterly owned by Satoshi's invention of Bitcoin. Great show bankers, but we will take it from here  ;)

Maybe that CNN guy thinks BTC should be worth $15 so he can buy in at that price.

Haw I wish. I'd scoop up as many as financially possible. Since everyone is thinking this, the price will never drop that low.

Wonder if he's ever seen this?

http://blog.ponoko.com/wp-content/uploads/2007/04/hypecycle.png

The sphincter and anus comment jokes are hilarious. I laughed out loud.

id like to point out, aside from the obvious "Hes wrong", even if what he were hinting at were true... it wouldnt be 15$. it would have to be atleast 30$. within a month of the reward halving the price doubled. roughly~ supply cut in half, demand is the same, price doubles.

Not saying hes right, just that even in his view, his universe and his opinion hes still wrong.

well, if an individual with 155000BTC would cash out, we would get to $15 and I wish it would happen. This would distribute bitcoins into more hands. Knowing that bitcoin can only take off when we all part with some at some point, I sell small quantities to as many people as possible and restock if possible and such an event would hopefully get more people involved, not less but less is also an option.

Idiot.


What good is gold in Cyprus, with their stringent money/banking/border controls?  How do you sell it?  How do you get it out of the country without the risk of confiscation?

So, the guys advice was to wait until the price goes to $15 and then sell?

Therefore there are no arbitrage opportunities ever.

USD 23 here

It is over...I will pay $50 a piece.

That is actually a positive over last coverage in 2011 where many reports could not seem to see bitcoin have any real long term value.

Thing I have been wondering though, is what you can move bitcoins into if you think they are over valued but don't wan't fiat.

FTFY

People don't just unlearn what Bitcoin is.

He does make a lot of valid points and he does have a long history of having a proven track record on things like this.

Just like with all bubbles people who are riding it out or in love with it will refuse to admit anything bad could happen.  I wouldn't expect to see much less on a forum full of bitcoin fans like ourselves.

The bitcoin fan boy in me wants to say everything is going great and it's only going to get better.  The common sense in me though says that yes bitcoin shows all the signs of a bubble and bubbles rarely end ell.  Bubbles can last for years though (both the housing and tech bubbles were warned about 5-6 years before they crashed)  so it's very relaistic that bitcoin can continue to preform well.  But I do tend to agree that there is a bubble going on, and I really hope that is has a soft landing instead of a hard one.

Such as?  I'd appreciate being pointed to his record on things like bitcoin...

well, no he wasn't really saying to sell at a loss. But he was stating that the real price of a bitcoin is $15.  Apparently his opinion is superior to the voting with money that is going on at the exchanges.

It is,  he was cited by CNN so it must be the truth right?   LOL!  seriously this reminds me ALOT about circa 1994 when everyone started hearing about "Cyberspace" and this thing called the "internet"

Regradless of existing money, FED is printing 85 Billion new USD per month, and bitcoin has only 108K new coins per month, even just 1% of those new money goes into bitcoin, it is $7870 per coin  :)

This.

Not only do the "expert economists" (translation: bank-sponsored economists) fail to predict anything right like dinosaurs failed to see the asteroid, but they have a hard time understanding what bitcoin is because they cannot pidgeonhole it.
As Einstein once said: you do not solve a problem with the brains that created it.

I'm offering 100$ each !  who sell at this price ? the so called "expert" on CNN did'nt have any to sell anyway :(

He could have some of my bitcoins as long as he pays me back with interest in 3 months. (shorting)

i suppose you wernt around for the first bubble then? people were voting with their money then, and it crashed.

Id like to think everyone would be weary of another bubble. but allot of people seem to think its impossible... which makes it all the more likely to happen ~_~