Bitcoin Forum

I think this is it.

It's going to go up from here. You can say all you want about capitulation and the "great dollar extraction" but, deep in your heart, you know that bitcoin is the future, and bitcoins will therefore inevitably go to $1,000+ USD per bitcoin.

Those of you who are waiting for another $10 drop, or another $20 drop... go for it, but you are risking more than you realize. This is not like 2011 where everyone thought the bitcoin "experiment" was over... today everyone thinks that bitcoin "or something like it" is almost certainly going to be the future of how human civilization engages in trade and storing of value.

A few more weak hands will sell in the next week or two, sure, but Coinsetter, Kraken, CryptoStreet, and dozens of other projects we haven't even heard about are in development and will be coming out soon.

tl;dr: everyone knows bitcoin is the future, even the bears who have sold and want to buy back... don't be the person who sold at the bottom

it's like we believe it's going to go up but know it's going to go down

Still at least 1 more halving to go. During a deflating bubble, fundamentals mean nothing. The price went up on psychology, the price goes down on psychology.

The Great Dollar Extraction. :D

No, I dont know that. I think bitcoin is a great thing to speculate and make money on though.

If I believed bitcoin was the future, I'd buy it and hold it.. but I dont. And most people are like me, and thats why the price goes up and down.

It will go up only when everyone will think bitcoin is doomed

Serious question: what do you think the future is? A different cryptocurrencies? The fiat status quo?

Every time I think this is the bottom, another large sell comes along.

Then it will never go up, because I will never think that bitcoin is doomed...

You, sir, need to study technical analysis more.  Perhaps you will get better at placing your bets.



I'm all bull.  Bears are insane.   https://bitcointalk.org/index.php?topic=245816.0

LOL, what a joke. Such a cult mentality.

You are not the only bull, there are plenty of people around who think the price will go up long-term. Some of us just realize the long-term and short-term can be moving in opposite directions.

Seems like an unsustainable situation though. Like I said, good luck not being the person who sold at the bottom.

I am definitely a bull.  I guess I realize that BTC could very well drop back down to $60 or so again.  It is a wild ride for sure, but I don't want to risk selling to buy back again because I have learned the hard way that we really do not know when the price will go up, and then keep going up never to return to same low again!  It seems better just to buy and hold at this point, especially if I believe, which I strongly do, that bitcoin will be well over the high of $266 at some point down the road.

At some point soon!

bear capitulation necessary

You cannot be the last person to sell at bottom, if you are never going to sell them below $100.
When I've bought my Bitcoins I've accepted that there is a chance of them to go to zero.

Good luck holding when you could have doubled/tripled/quadrupled/etc your coins. (See what I did there?  ;))

Pretty illogical to use that as a basis for ignoring sentiment and technical indicators. Many people realize that much more money can be made not using "buy and hold" strategy, which simply rejects countless opportunities to make profit.

Bitcoin has a use. It's the question of how wide that usage will become. Another entry into the tor drug market place has launched. Unfortunately the black grey market might be the only driving force for the future, but new technology has always been bootstrapped by the forces of Vice. The political fiat printers can obfuscate the exchange of coins into their currency, but unless they are willing to risk revealing the grand lie we live in a free society, they are handcuffed, bitcoin is just a hash that is rare, it's a piece of text, one can claim it's defended by Freedom of Speech, so maybe one day we will see a ruling by the Supreme Court, but that's a long way off.

@MAbtc: You realize you are in a crowded room full of bears at a tea party, speaking vocally about how the bitcoin cookies taste awful while simultaneously creeping towards the last bitcoin cookie. You are going to be a hungry, hungry bear.

Well, you can also invest your coins instead.

I think some people are great at day trading.  It takes some skill though and perhaps some great intuition as to what the market is doing.  I would think it would be wise to always hold on to some because we could wake up tomorrow and BTC could literally be $500 a coin.  All it would take is something that would trigger a panic buy with a large number of people.  I personally do not trust myself enough to risk my little stash.  I always seem to pick the worst times to sell, then I buy back too soon.  I have broken even with my day trading experience so I figure I may as well just sit back and enjoy the ride.  But I do envy those of you who manage to work the system so much better than I do!  Well done!  Wish I had the skills, but it is good to know what our weaknesses are and be patient.

Warren Buffet teaches that if you like it you should buy it and hold it and never sell.

Nobody is great at day trading. Some people are simply lucky over the short term.

Everyone will lose money day trading over the long term.

The best case scenario is that the early adopters hold for long enough, NEVER sell for fiat, then we can buy a new car for 0.001 BTC at some point. ;)

Like I said, I am definitely bullish on BTC!

Granted, I may be a little too much so.  Since I invested only what I can afford to lose, there is very little risk on my part though so I will just enjoy this ride.

Probably true.  I guess it takes wisdom to realize that it is going nowhere and decide to just hold.  But there may be some experts out there that realize that too and are really able to work the system.  It is a gamble though.

Buffet sells stocks all the time.

Again, telling people this doesn't make it so. You retaining this ominous tone that "you're going to miss the train" -- as the perma-bulls have been screaming for the past month as we slid from high 130s to low 90s -- isn't very convincing.

As for a being a hungry, hungry bear, I was happy to sell the last off my coins in the 130s and certainly am not selling at the bottom. I do not day trade and do not intend to panic. If I miss the bottom, whatever... my initial investment is recouped, I have profits locked in, and I certainly won't being buying in at a loss considering my past positions.

Let the bears have their time to make money.  ;)

Is that what you said about the internet?  ???

I hope you're just trolling; either that or you don't understand tech.

Bitcoin 'or something like it' is here to stay.

 Warren Buffet says you would invest in what you're passionate about. and the more money you have to more true that becomes, because you know maybe some big players in this market place we call life! aren't looking for a quick buck, their here for the same reasons i am, to Do Something Worthwhile!

^^This^^

Also, the price-swings make it more interesting. If you have some foreign coins to a country you might visit again, you put them in a drawer and don't think about them -Even if it's Zimbabwean notes. With BTC it's different, and that is one of the allures. It's half gambling, half future money and half geek-power. Thats 150%, more than enough reasons to follow BTC and be in/out according to the markets.

The fluctuations of BTC is a mayor selling-point for pinkies. Only thing that is missing is truly easy ways of getting in/out - easy as in Credit/debit Card and more places that accept it as payment. -Then everyone can speculate a little on price-fluctuations and discuss it over the water-cooler, and BTC might become the preferred method of paying online.

-Only bad thing is that when everyone wants to speculate, the price will become stable as BTC are traded at higher volumes and there will be a rush to buy if prices are a little lower than usual, and a rush to sell when prices rise too fast.

YES!

I keep reading articles about how people want to use their phones to pay for things.  The banks keep charging more fees for this, partially because of security issues and partially because they can make more money.  People will eventually get sick and tired of paying these fees and hopefully Bitcoin will be ready to come in and solve this major problem, as well as many other major problems, and we will see how Bitcoin is the future of how currency is traded.  It seems rather obvious and not a "joke."

The sooner the better I say.  Of course, we have banks and governments to struggle with first and it will not be that simple.

See bolded. Do you really believe that's the current state of affairs? It's not clear to me that more than an extreme minority of people believe this. Obviously you believe it. And what of everyone?

MAbtc... that's the point! SO FEW PEOPLE HAVE HEARD OF BITCOIN AND IT'S NEARLY $100 USD per BTC... that's extremely bullish in my opinion. Once more people know... the moon!

That just means it was massively over-hyped. You could have said the exact same thing at $266 -- bullish then, too? You can't have hype cycles and simply continue to go up, up, up.

I guess i agree.  I just don't find the "something like it" part reassuring... ::)

No, he didn't mean your grandmother or Paris Hilton.

Nearly everyone who is relevant has positive things to say about bitcoin technology.

Furthermore, opinions are just that. Many smart people have made silly predictions about technology that were precisely wrong. I look at what people are dong with bitcoin. Does it work, is it unique, is it useful, does it become more useful the more people use it, and does it have development potential? I believe all of those things are a yes. That's good enough for me, but it is always useful hear the opinions of experienced professionals from a spectrum of different fields.

Yeah, and "everyone who is relevant" has nothing to do with mass adoption. Funny how "everyone" and "the future of...human civilization" is now "everyone who is relevant" -- a bunch of tech geeks.

Digital P2P inflation-proof currency is absolutely in the future of human civilization. I'd take that bet any time.

These ideas are not going away. Deal with it.

BTC is like all the leaders of the tribe agreeing to make themselves richer. It is immune from what weaklings might say. Therefore in the 19th century it would have been an aristocrat, in the 20th a fascist and in the 21st it votes for Ron Paul.

Buy and hold.

Of course you can multiply your coins with daytrading. Here is how.

1. Look at the graph.
2. Travel back in time.
3. Buy.
4. Come back to present
5 Sell

Its like bicycling. It's easy when you have learnt it.

I'm not saying they are. I'm saying that the statement OP made was ridiculous, and you haven't done anything to disprove that assertion. I also thought it was worth pointing out since OP was using the old perma-bull "bitcoin is the future" bit to say people should buy in the short / medium term. It's a good reason to buy if you will simply buy and hold for the long haul (indeed, I am a long term bull), but it's quite irrelevant in the shorter term.

As far as my comprehension skills tell me, he said "bitcoin or something like it". I don't have to disprove anything, never said bitcoin was the future of mankind.


This has nothing at all to do with the working idea that is bitcoin. Its pure technology.

Bitcoin price speculation and markets are a whole other topic entirely.

Human 'tribes' do what you are describing all the time with fiat currencies. Bitcoin not required. I argue that over time, bitcoin is more resistant to people enriching themselves and their friends through inflation, compared to traditional currencies.

If you know of a better way, develop it and release it to the world. If its truly better, it should flourish.

CryptoStreet! go go go..  

orderbook.
"Refreshes every 10 seconds. Includes real-time pricing from Vircurex, BitStamp, BTC-e, and MtGox."

YES! mtgox  .. volume...     arrrrrr..

cant wait

You're missing it. He said "today everyone thinks that..." My point was that everyone does not think so; in fact, only an extreme minority of people think so. Hence, it's a really bad basis for his argument.

If there are only seven bananas on the island where there are 3 orangutans, that is a state of no inflation. if however we decide to start printing bananas, there is inflation. it is only in the former case where we see this kind of behavior. In the latter we only see confused orangutans asking the banana issuer when the 3D banana printer is coming.

interesting thought . . . not that it would affect usage much

Most people don't buy and hold?

I thought there were far more bitcoins being hoarded than circulated.

I haven't regretted a single time when I've bought BTC.

I haven't regretted a single time I've sold BTC either.

What I have regretted is that I didn't sell at around $20 in 2011. If I had, I would have a lot more money now.

I didn't want to make the same mistake twice, so this time I've sold above $190. That turned out great.

I know that feel...