Bitcoin Forum

a single bored millionaire could dump 14M USD into bitstamp right now and send the price to 1000 USD,
and of course everyone would say bitcoin is great and is the next best thing.

on the other hand Mark Karpeles could dump 22k bitcoin and send the price to 40 USD,
and everyone would cry that bitcoin is dead.

the price means nothing in a market with such a low volume, the only thing that matters right now is the adoption rate.

Well said.

I agree. But adoption is held back by such volatility in the downward direction.

People invest life savings into bitcoin

OP says price tracking is pointless.



Really well done OP.

good job in investing all of your life savings into bitcoin.

i recommend the nobel prize of economics for all these people :)

wait ... and you see.

bitcoin is not a crappy financial circle with black hole on the bottom ...

if you have bitcoin, it's like have asset ... real asset.

so, time is the key at the end.

How do you propose to trade a commodity without knowing what the price is?

im not saying the price should be censored, my point is that with the current market volume its not an indicator of bitcoin's health.

that's right, tracking the price with the current volume is pointless.
i believe anyone who invests in bitcoin today will do very well in 10 years, but today the market volume is too small for the price to be an indicator as to bitcoin's fundamental strength.
like i said, any single bored millionaire can move the price significantly, yet that doesn't mean anything about the bitcoin economy has changed.

Warren Buffett said Bitcoin won't be around in 10 years.

and i always listen to senior citizens when evaluating new technology.
seriously though, how much do you get paid for shilling here?

Yep, im sure you were out in full force warning everyone at 1K that price didnt matter, right hypocrite ? Right ?

Storytellers still tryin' to reel you in. Pathetic.

i wasn't here back then but if i was, yes i would.

Bitcoin is already dead, haven't you been reading the posts here lately? :D
In fact, it was declared dead already in 2011, 2012, 2013, it's still dead.

BURN!!!

Anybody want some burnt t-bone?

So your saying Buffet is never wrong?
Just don't mention Tesco to him. :D

When the price is out of sync with "fair" value, you will see volume increase. So the current price mean something.

bitcoin is rat poison and a mirage and will not be around in 10 years, even 5 years is unlikely.

until then we will trend down with some minor, false recoveries along the way.

bitcoin has no utility and has no usefulness to consumers, that it is why is has been around for years, and the OP is saying that we shouldn't even bother tracking the price, because the market cap is so small!

there should be a light bulb going off in your heads right now. If not, you've become married to your investment and are blinded by dollar signs. I tell all my shareholders each year that small, steady gains are the key to wealth building. Bitcoin is funny money, avoid it like the plague!

--Warren Buffett

Least you've learnt to spell his name correctly now. :D
By the way, how's your Tesco investment going Buffett? :D