Bitcoin Forum

Bitcoin really works on my nerves. The thing always goes up. I hope it crashes hard so I can buy coins cheap for fair price and laugh with all those permabulls and greedy panick buyers that have been pushing up the price way beyond adoption rate.  >:(

Fuck them. Crash sucker! $60 is all I need to load the boat.  ;D


For those who use reason when making investment decisions: If you look at amount of transactions (https://blockchain.info/charts/n-transactions?timespan=all&showDataPoints=false&daysAverageString=7&show_header=true&scale=0&address=) it's pathetic. It only doubled since 2012 (25k/day vs 50k/day today) yet price is 10 times more now in 2013 ( avg $10 in 2012 vs $100 this year).

If you look at 2011 (5k/day) vs 2012 (25k/day), transactions fivefolded. And indeed average price only doubled from 2011 ($5) to 2012 ($10). So you may say, we are just catching up?

Yet if you look at 2010, transactions were only 500 per day and average price $0.1. So what happened in 2011? Transactions indeed 10 folded to 5k/day, but the price went from $0.1 to an average of $5, that is fiftyfolding.

So, from what I see the first bubble in 2011 raised the price way beyond adoption. Than it corrected in 2012 and adoption catched up. 2013 we have again a bubble where the price has been going up way more as adoption. And I really hope we will see a correction again so that adoption catches up and for that eather price must stay around $100 for a year, or we must hit $60 within a few months.

Again, bitcoiners may say fuck you to fundamentals, so I'm not counting on it. But I'm hoping and I'm wishing all those not respecting fundamantals and pushing up price yet again will burn their greedy fingers. *insert devil laughing face*  8)

We are way to late for buying BTV for a fair price. We should've bought back in 2009 :(

Lol your own fault for missing the drop to $50 a few months ago.

Keep waiting for $60. LOLZ.

if it drops to 60$ it will be for like half a second before it starts recovering and climbing again

That's enough ;)

lol  ;D ;D

Yeah, well bitcoin being bitcoin, I'll likely get another chance.

Bitcoin is alright, it's those erratic emotional newbie speculators here that I'm gonna teach a lesson.

Buy all you want at $130, and dream about all the riches that will come to you.

I'll take your coins for half price when you start thinking about the gutter you might end up in if you don't liquidate some.  ;D

the price is always fair if you believe in the currency to rise...

Bullshit. In 2009 the thing was way to uncertain. Now we have a lot more evidence it's gonna be a good investment.

There was a fair and even cheap price in 2010, and in 2012. Likely we will get a fair and maybe even cheap price again in 2014.

Be patient!

And never if you believe in the currency to decrease

I would not count on it dropping to $60 atm. I think the price at 125 is already fair enough...

I believe in the long term it will rise, in the short term it will fall.

So if you invest for the long term only, then I agree the price is fair.

But most here also invest for the short term and then the price is TOO HIGH.

Keep waiting for $266. LOLZ ;)

It might decrease to 100 (support) though

Fair is one of the worst words ever invented for the English language.

Fair means you didn't do something someone else did and now you're spiteful

I don't mean it that way. In financial analyses, 'fair value' means a price that does not value the company too high, or too low. A price that corresponds with the profit margin it makes and the growth potential it has. The market influences that price, sometimes the market pays a lot less than fair, sometimes a lot more.

When valuing currencies, you cannot use profit margin, but you can use amount of transactions (actual growth), and potential growth. I think I show clearly in the opening post that based on amount of transactions we are not at 'fair value' but are overvalued. Since 'potential growth' is the same today as it was a year ago this is not a valid counterargument.

I'm not spiteful or jealous I think. I am pissed.

Pissed that you missed out. LOLZ.  :D

"Scared money don't make no money."

LOLZ :)

Ok, I'll admit, if my boat would have been loaded already I would not feel pissed with those greedy speculators ;D

Would still think it to be overvalued short term though  :-*

Next time however I DONT sell anymore!!!!!  ::)

Now be a good boy and CRASH!!!!  ;D

"After all, you only find out who is swimming naked when the tide goes out."

;)

I was personally a fan of the $100 bitcoin; it made for trivial currency conversions to USD.

Sub $100 dollar bitcoin is possible, but only after the next bubble pop. With all the pending developments in the short term, BTC is going to increase in price. If you can buy BTC sub $120, there is good profit to be made in the short term.   

Right now I think this year Bitcoin will not drop lower than $100 or rise above $200. I think people are starting to figure out a general accepted price/worth of Bitcoin.

Euhm, what pending developments?

Seriously?

It's not that amount of transactions is going up...

Just like 2011 bubble, I think it will take a year minimum before we see some decent innovation coming from the new players attracted by the recent bubble. I mean innovation that leads to increased usage of bitcoin, just like Satoshi Dice did in 2012.

So at best in 2014 somewhere. Until then down the tube with this sucker!!!

However, I have no clue what application that will be, you?

Please share, maybe I can become rich after all  8)

One development in the short term is the pending approval of the Bitcoin ETF. When that gets announced, you can expect a nice pop. Secondly, with the uncertainty in the middle east, ie. pending US attack, another pop. Thirdly, the devaluation of currencies around the world, ie. India. There are lots of things going on that is very favorable in regards to Bitcoin. Oh did I mention the microscope Bitcoin is under via Governments, and how to make it safer for the general population.

Oh, I see, I have a permabull on hands here. Rosy glasses.  ;)

Let me pop that bubble for you, one by one:

- Bitcoin ETF, no way this will be approved in 2013. Maybe by the end of 2014. M A Y B E
- Bitcoin does not go up due to political global events.  Don't believe for a second that price went up because of Cyprus, that's just plain BS. War will have zero influence on price of bitcoin. Deflationary collapse and bank defaults would only have a negative influence on bitcoin price in short term. If any... India currency collapsing and you think they will flee to bitcoin? Common, serious. You really believe that? Long term I agree, short term NOPE.
- Regulators clamping down on bitcoin a positive for short term price.  ??? Where do I even start here?

I'm getting the impression you are one of those suckers I address in my opening post. I guess you are all in, right?  8)

Keep hope alive buddy. Maybe take an economics class or too, as you clearly have a poor grasp on this subject and cause and effect.

That's a strong argument you are making there  ;D

Sorry to be In Your Face.

I just need to let go off some steam and you are the victim. I'm sorry.

Let me make up, I think you are wise to hold for the long term. Ignore my bitching and hold, I agree you will do likely very well.

I didnt win the game  (┛◉Д◉)┛彡┻━┻ Not fair


Done Trolling back to topic.

BTC are quick stable in the recent period (relatively). But with all those different nations' regulators chit chatting under the table, there are only two ends. They accept it, or they dont. And those will be big news and big effect on coin price, with the uncertainty now, I guess it is kinda a time for you to make a bet. What the result will be, that's left for you to guess.

No offence taken but your understanding of economics with regard to your statements above are a little lacking, if not ignorant to basic fundamentals.

So I'm wondering if my thread here is succeeding in convincing people to sell or not buy, instead of hold or buy?

After all, I want cheap coins  :D

Serious question though, I'm curious?

Now I understand. LOLZ. You want to spread FUD to get people to sell. Gotcha. I don't think it will work though.

You are not making an argument here.

You say bitcoin price will go up if war erupts. I say, no it won't go up if war errupts. And you respond saying I don't understand economics? Well, I think you don't understand economics.

Please explain why bitcoin would go up if war erupts in Syria? Or why bitcoin price would go up (in short term!) if Indian Rupee continues to drop?

War creates uncertainty within the country, as the banking sector and the economic structure is at risk of being destroyed. People need a safe place to put their currency fast, like what happened in Cyprus when the Govt. wanted to unilaterally take money from accounts. Some residents converted most of their Fiat to BTC, which drove the bubble in April.

When you are facing deflation of your dollar as the rupee is, people need to store their Fiat in other currencies, goods, gold/ precious metals, or now Bitcoin. Not all will, but a small percentage would have a big impact on BTC.

Govt regulations are not bad in terms of Bitcoin. If the Govt accepts it and does not ban it. The next step will be to make it secure through regulation, making it attractive to a broader market and investment portfolio.