Bitcoin Forum

It has been a tough year for us Bulls.

But the reality of the situation is that bitcoin fundamentals have improved massively this year and its just a matter of time before:
1) Wall Street gets in bitcoin
2) It becomes a mainstream form of payment.

Look at the charts and you will will see that bitcoin's price is characterized by bubbles.  We can't say when the next one will be, only that sooner or later another bubble will happen; it may be 1 month from now or 1 year or 10 years. But one day another huge rally will happen.

Until then, keep calm and hodl :)

Hold only if you can take the pain when it goes sub 300or 200$. It might get back to 600$ , but that could take another year or two. The bubbles before have been artificially created by non-existent MtGox USD.
There is no garantuee at all that we will see another ATH bubble. I have to say that we might get a bubble from 70$ to 500$ , if it should drop that far.  :)

If we go sub 500 this will be the first time ever that there was a bull trap of this magnitude, involving a crossing of major 3D/1W indicators occured, the bull market was denied, and the bear market was re-entered. It will truly be a first time experience for all bitcoiners and there will be nothing in bitcoin's past you could compare it to and comfort us with.

With trillions of dollars printed by the fFed, even more by PBOC,  negative interest rate by ECB,  time is on the bitcoin side.

Inflation is not a valid argument to support taking a high risk on a speculative asset. There are plenty of other assets to invest in to beat inflation such as real estate, inflation bonds, and stocks.

Go sell your bitcoin for them then  :P

Dear Blatchcorn.

I am writing to you to enquire whether you are the fuck aware or not, that being a Bitcoin bear, or bull, is a stance that one should take according to market action, or whether you actually believe being a Bitcoin bull or bear, was akin to supporting your local football team?

Do you sir, view your Bitcoin market stance as a form of patriotism?

Do you understand that it is perfectly acceptable and indeed desirable, to switch allegiances over to the winning team in this particular battle?

If inflation gets totally out of control to the public eye you can argue that Bitcoin, a digital currency that cannot be inflated by the State will benefit from it more than the other assets


Indeed but maybe it would be a short bear trap and we will go back quickly to 700 then higher

That's a nice list of risk free non speculative assets you got there.

Real estate is heavily taxed and risky since you often end up buying @ 10-20% more of the market price, it's illiquid and very costly to maintain

Inflation bonds don't protect against real inflation because they follow government numbers

Stocks can deliver well

At last !!

This is what I'm saying from ages.

Just give time some time and bitcoin will go viral.

It's a step by step and we are going in the right direction.

It's not HYPE that will die soon. This is an business system.

The only true defense against inflation is gold/silver. And bitcoin if it goes mainstream one day.

All other assets are investment and currently in a bubble. I would not buy them now.

I'm sorry, but I'm against "bitcoin if it goes mainstream" sentence.

It will go mainstream, we are not in a race or in a hurry.

Why do you rule out natural ressources, other precious metals, google, altcoins, land, art, wine, swiss franc, high dividend stocks?

Hope the community does kill Bitcoin before we will reach that level.

Wall street has already gotten into btc they have just been relatively quiet about it. Look at Second Market. When they get more involved, it's not like you can expect an announcement, they just little by little keep dumping money into the market..

"keep calm and hodl", I like that philosophy.  Real words to live by if you ask me.  That should be the mantra for all the panicky folks.

Can only become if people start receiving their salaries in BTC. Otherwise, they are too lazy and ignorant to convert, I mean average sheeple Joe.

Just cracked $600. Wasn't even 24hrs.

thanks for bringing that gems of stupidity out from under ignore cover :)

you are right. These are good. Except for google/ high dividend stocks. Don t bet on something tied to the economy right now.

I really like land and art.

But my point was, that the only true defense against inflation has always been gold/silver. Bitcoin ( and altcoins obv ) could become another once they would be mainstream.


You mixed very speculating asset and protection against inflation.

Currently, bitcoin is just at the beginning of the S curve (adoption of new technology). You can t compare it to gold. So many things could happen that will rule it out of the world right now. That s why it is a very high speculative asset.
I have a lot of bitcoins and i m bull, but better stay rational than fanatics.

This is really funny  :)
Seems we are in a consolidation period and the value will go up soon.

Yup Fonzie is an absolute idiot.  I would not even use his opinion on how to spend monopoly money

People forget how easy it would be for the government to put a serious quash on Bitcoin by telling businesses they are banned from collecting it (Coinbase or directly) which will kill mass acceptance. You're not out of the woods yet.

Don't even bother. People around here are religious in believing that bitcoin is a rapture which will suceed and become huge no matter what and they can't see past their ideals to listen to any kind of rational argument. All you're going to accomplish with these kind of posts is you are going to get run over by bulls, especially when the price starts rallying again.

Rolling...crushing...your flat!

There are some other possibilities for the BTC price to go up:

1. major EU country gets into difficulty with their debt (France, Italy) and at that time the threat of a public haircut will high. We've seen this with Greece and Cyprus.

2. The US starts to "attack" the financial position of some well known islands like Bahama's, Virgin Islands, ... They could tell banks that wire transfers in USD can no longer be executed with these countries since they refuse to divulge account information about US citizens. They already did this with Switserland and to my surprise it actually worked. There's boatloads of money there so if 10% of this ends up into bitcoins ...

Let me be the first to say thank you for aligning your signature to the right.

However, I think it would be best for most involved if everybody were a blind bull. Realism puts a damper on huge gainz.

"2) It becomes a mainstream form of payment."

Doubtful.

Crypto is presently too complex for the "mainstream" and without 100% of the population having internet access, "mainstream" will not happen.

Bitcoin will not be mainstream because:

1.) The common person highly prefers to use a sovereign-backed currency.

2.) The common person prefers to use a currency that they can hold physically and barter with without using a device or the internet.

3.) The common person is in poverty, lives paycheck to paycheck and uses debt to pay for everything.

4.) Businesses need a highly stable unit of account to conduct trade, manage finances, and integrate with other businesses, even if this stability involves a gradual decline of a few percent per year.  The few percent decline for year is extremely stable compared to bitcoin's volatility.

5.) The technology is too new and unproven to have too much trust put into by the bigger money. It's certainly too risky for the world's finances to hinge on and there are many technical questions that have been left unanswered.

That isn't to say there isn't a lot of room to grow from here though.

The global collapse of fiat will make Bitcoin a "mainstream choice" for people seeking better options.
It is just a matter of time.  :)

All of the reasons why bitcoin cannot become mainstream are not accurate at all.  Those are simply reasons why bitcoin is not mainstream today.  5-10 years time all of those things can change.  It is just a matter of time  ;)

The fiat world is worrying about Iraq and oil production while the BTC/crypto community is worrying about 51% attacks and the centralization of mining.  I think BTC would have continued up past 668 if Ghash.IO wasn't just giving us lip service.

Do not smile over a global collapse. If such a thing happens, everyone will suffer very bad and the LAST thing you will worry about is bitcoin or investments or money. You will be thinking of how to survive, what you are going to eat, and how many bullets you have left in your gun to fend off all of the attackers. Bitcoin will probably crash too once the world is in complete chaos, not rally. This is because all the channels to inject fiat will be broken except direct hand to hand barter, and I find it highly unlikely that suddenly Bitcoin will become a barter tool during global chaos when it was not already. Also it will require people have access to technology and the internet, which will also become unlikely. So it will become worthless.  Be careful what you wish for. So maybe there this small chance you bitcoins gain some value while your house is being burned and your friends are being killed by looters. It disgusts me that there is a smiley face attached to such a thing.

Chill out it is just hyperbole

A collapse can take many forms and can also take a lot of time. It won't be the first time fiat collapses, but it will be the first global one. I am prepared for the worst case scenario the way you are describing, but I believe and hope it won't get as ugly as that. I definitely want to see it collapse though because our fiat system is blocking the way towards a better world for future generations.

We would of seen a drop out to like $20 if this was true.

I don't think you really understand the game karples was playing, he lost, BTC won.

There is nothing fun about a USD collapse and the worse could happen but it will benefit the other currencies and the middle east or asia will still be a good place to live; I can see a scenario where the USD collapse but we don't see a world war, mass deaths and suffering; we will likely see power grid collapses, huge riots, martial law and ration coupons which are not fun

Let's hope internet and free minded people will be able to build a better world free of massive coerciveness

Keep caml  :D

Note the story in the FT from this morning about how the US government is considering forcing exit fees on individuals placing their cash into bond funds - essentially a wealth tax on savings in liquid instruments when they are sold. (or a cash grab depending on how you look at it)
I would post a link but its behind a paywall.

Perfect.

LOL

We had a Winchester in Toronto... a complete dive bar patronized by pugilistic tattooed country-and-western listeners who bragged about their prison time.

It was a great place to forget about things, if only out of a sense of self-preservation.

 :)