Bitcoin Forum

Well...

It went up 50% ($100) in one week!

it doubled in 1 month!

I say it will  shoot up to $400, take a breather for a few days, then will close over $450.00 by Friday 11/15/2013.

Just sayin.

Its basically impossible to predict ha.  But I think we will see some pullback soon...I think the price will start to slow and flatline for a bit now that the hype is nearly over...but long term shes a winner

yes impossible to predict, but considering the chinese participation, the lack of DDOS attacks, and the news media reporting the bubble belivers were wrong along with the new highs, I think there will be new highs mixed with short periods where everyone catches thier breath.

when everyone sees the new level of stability more and more money will flow into it -- rinse, repeat!

$450 in 7 or 8 days!

Take a look at some of the trading sessions pushing the coins up tens of $ with only a few hundred trades.

There is a MASSIVE bubble forming, it is being driven by sites trading futures and naked short selling of the coins, and the  recent 3 pronged dumping of the coins in the last week.

If you can ride it and get out just before the crash… then good luck.

This.

NOTHING rises forever.  It will correct at some point over the next few weeks.

its at 400. my forecast may have been bearish. revising to 500 by next weekend.

like i said, not for the faint at heart....

i tripled in one week  10k to 30K  im smiling

I don't mean to sound pompous, but there are so many naive investors in bitcoin right now. What's happening now is speculation, pure and simple. A lot of fanatics were saying in April that it would just keep rising until it hit thousands of dollars, and they were completely serious. And now we're accusing the moderate commentators who declared bitcoin a bubble to be in the wrong? They were absolutely right! And it still IS a bubble. Until anyone can show a legitimate reason that 1 bitcoin is worth $350+ as of right now, it's the very definition of speculation.

I'm not saying it can't reach $400 or even $500 in the coming weeks, but it will come down hard before long -- have no doubt of that -- because there is nothing right now to base that value on (and don't say because the Chinese are also speculating on it). If bitcoin does eventually become a major payment service, then it won't be a bubble anymore. But that's yet to happen, and nobody can foretell with any certainty whether it actually will or not.

since when does speculation = bubble?

you dont sound pompous, just uneducated. your logic is weak at best. some of the finest business minds in the entire world strongly disagree with you. and put their money where their mouth is.

If you feel this way, think how much money you can make by shorting bitcoin! tell us about your profits so far or go back school.

I dont think the big correction comes soon, still the demand is high and adoption continues,  11/15/13 we might even see $500+

Laughing at the pompous newbie that doesn't understand the power of bitcoin to revolutionize money or the logarithmic adoption curves that go along with that.

So Gold has a market cap of 7 Trillion market cap because it is a major payment service? Right?

(oh, I forgot, its because of its myriad industrial uses. Correct?)

(oh, I mean, its because it's been considered valuable off and on by different cultures for thousands of years. That's why, right?)

Wait a minute, are you actually comparing a digital currency used (but mostly hoarded) by a small group of Internet enthusiasts to gold?  ::) LMAO... Put the mouse down and step away from the Internet...

I never said it couldn't revolution currency, but it's not poised to that in it's current incarnation and the current valuation of $300-$350 per coin is ridiculous given the lack of a wide user base, the technical and security challenges that will need to be overcome and ultimately the pesky little fact that it can't even be used anywhere (aside from Reddit and other minor players).

What the bitcoin zealots on this forum seem to overlook is the fact that wild, runaway speculation of an asset does not equal success of said asset. The test is yet to come, and we could very well see the value of bitcoin plummet to zero over the next few years.

I dont own or watch tv regularly and have not for years. So one day im sitting in a restauartnt watching tv and notice all of the commercial have a FACEBOOK logo in them. Im like WTF!?

There was a time when face book was scoffed at. Same with twitter. People spoke of the the same way schmucks speak about bitcoin today

One major commercial insitution makes an announcement, next we will be seeing the Bitcoin logo on superbowl commercials. Then we can start talking about a bubble.

$400 bitcoin will be the good old days and bitcoin will be $5000 or $10,000 or who knows what. Yeah im speculating, but my point is simple. If you have any  brains at all, BUY!

Runaway speculation always leads to an economic bubble. All I did was merely point out that it's already happened twice with bitcoin and is poised to happen again within the next week or two. Apparently pointing out the obvious is akin to blasphemy around here.

do you even know what a bubble is?? so how much bitcoin have you shorted? since you are so sure?

shouldnt you be looking at your governement bond charts or something/

I'll tell that to the guys who invested early in Microsoft, Google and Apple.  I'm sure that Bill Gates, Paul Allen, Sergey Brin, Larry Page, Steve Wozniak and Steve Jobs will be very upset to find out that their billions are actually a "bubble" that was due for a correction and that they shouldn't have held their stock, that it was a stupid idea.

To triple ($) you have to sell. Have you sold?

i scrape a some of the top, periodically however the value of my account has about  tripled in the last week.

waiting for bitcoin to break the Gox $400 resistance level and take a run at $500. will cause my triple to double.  I speculate 7 to 10 days for this to happen.

Microsoft and Apple produced software and computers; Google produced an Internet search engine. If you now buy stock in any of the three, you're investing in some of the largest companies in the world. There is underlying value in those companies that warrant value in their stock.

With bitcoin, you're investing in a digital currency which holds the possibility of becoming mainstream and one day making you rich. What I'm saying is, the current value of one bitcoin does not represent any real infrastructure and is merely speculation on the part of thousands of people who hope to become rich quick.

What you and others fail to realize is, people buy Apple stock because it's a hugely valuable company that's used by millions around the world and deserves to be valued at billions of dollars. Bitcoin has the *potential* to be that way somebody, but it has a long ways to go before it genuinely deserves a 3 billion dollar market cap. Everyone here wants so badly to put the cart before the horse and declare that bitcoin has "made it" merely because it's expensive right now, which is a logical fallacy.

I'm with you on this one, BTC people get blind on each new unexplicable price spike. I don't believe the current prices will stand and stay above 300 in the next weeks.

Are you just trolling now? Look at April. You would call $266 to $60 in the matter of one day.... what exactly? That's not a bubble?

We already had a signifiant drop from ATH and a very strong slowdown. Even if we get another drop, who will be scared? Cause I ain't

fuck no that was not a bubble. there is a difference between a CORRECTION and a BUBBLE.

how can a bubble follow a bubble that has burst a few months later genius??

i bet you are a really wealthy guy....

further it was a correction caused by external sources - DDOS attacks

Of course I am. They are both stores of wealth. That's the obvious point you are missing as you chime on about how bitcoin isn't an established currency.

OF COURSE it's not an established currency. That will take years.  But what it IS today is a STORE OF WEALTH. Just like gold. Right gold - that "precious" metal that you gave no reason as to why has any real value, except speculative.

A bubble/crash/"correction" ... these all mean the same thing (ie. the valuation of an asset outpacing its true value followed by rapid devaluation) but if "market correction" is less likely to offend your delicate bitcoin sensibilities then by all means go for it. And why do you keep attempting to instigate this ad hominem line about my wealth? Because I'm not a millionaire that somehow makes my point about bitcoins invalid?

I'm sorry if I've offended your faith in bitcoins somehow. I've never said once here that they flat out won't be successful, but someone around here has to be in charge of rationing out doses of reality here and there.

This message board can act as an echo chamber with everyone trying to psych each other up and creating wild market forecasts with little basis in reality. If guys like me don't come around and remind everyone that there are still years and many hurdles to overcome before we enter a bitcoin global economy, we're all going to start believing our own bullshit.

THEY DO NOT MEAN THE SAME THING. THATS MY POINT. DUDE, YOU ARE IGNORANT AND TRYING TALK LIKE YOU ARE EDUCATED. YOU HAVE NO CREDIBILITY. YOU HAVE NEVER TRADED OR INVESTED IN ANYTHING IN YOUR LIFE. THANK YOU FOR YOUR PATHETIC REMINDER. NOW GO HOME. LOL

bubble = no recovery

correction = recovery possible

...Says the guy writing in all caps.  ::)

So now you're trying to tell us that the United States housing bubble means that real estate will never reach 2008 levels again? After all, a bubble means that there is no chance for recovery, right?

Only the market will say whos right. All I believe it wont go under 200 for sure, the recent dumps and fast recovery convince me

TBH there were no serious recent dumps

the real estate market will take DECADES to reach 2008 levels! If it ever ever does again!

look, its not my responsiblity to you about business, investing and economics.  In case you have not noticed, the USA economic system is toast. Get it?! That is a huge part of what makes bitcoin so attractive to us speculators. And im not stickin around to see the grand finale. I taught myself portugues and am moving to brazil.

so you stick around watching your reality tv shows and playing videos games or whatever it is that you do that qualifies you to make your petty little reminders ....im leverage trading bitoin on ICBIT and MT4/ BTC-E and planing for the future.  If you want to know more its $400 per hour for consulting.

I'm unaware of these sites.  I've been thinking of the impact of naked shorting BTC for a few weeks.  Because BTC trades on different exchanges and venues with big price differences that no one can apparently arbitrage currently, I do not feel naked shorting at this point is very relevant.  If prices were the same on all major exchanges or at least very close one could surmise that there is arbing and one exchange going down would have a large impact on BTC price.  An exchange or bucket shop could naked short and easily blow up; it wouldn't affect the other trading venues or average BTC price other than the investment money allocated towards BTC being lost.  But then there are bucket shops and exchanges running off with customer funds right now and, for all we know, they are long only and not naked shorting.

Wouldn't you prefer bitcoin, since the whole US economy is going belly up soon?

You are funny as you are investment savvy.

are you missing "Family Guy" or something?

Google is an interesting example because they produced a free search engine.

If you look at the combined valuation of the Googles, Facebooks and Twitters of this world - companies whose main business model is to give away free services funded by advertising - it's not at all clear that the Internet advertising market is big enough to support these valuations.

The fact that these stocks made a bunch of people rich doesn't mean they're not in a bubble.

roy

Bitcoin is still extremely expensive for a dream. I love a free market.

You don't seem to understand investing. The fact that the price is $380 when this group is small is exactly why it will have to rise immensely higher ($500,000 to $1M) if it is adopted. If everyone were already using Bitcoin like gold, there would be no upside to be made. The idea of investing is to identify what will be big BEFORE it's big. Not after.