But I still think Bitcoin is currently overvalued.  , outside speculation, bitcoin is only supported by silkroad. Imagine speculators leaving, and silkroad shutting down.  https://en.bitcoin.it/wiki/Trade |
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so is it going up or down?!  sidewayz Up, it's been undervalued for weeks now. Bitcoin does whatever the fuck it wants.  TheKoziTwo, you are an artists: funny gifs, songs... Did I tell you I'm your fan?  |
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so is it going up or down?! sidewayz Up, it's been undervalued for weeks now. Bitcoin does whatever the fuck it wants. |
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Something is wrong with that chart. I have seen many log charts (for example the one at bitcoincharts.com) but they all look different. The first thing that's wrong about that chart is that it's pulled out of the OP's ass. He was drawing a line based on "Mmmm, right about there". ok then. Plotted using sigmaplot. regression analysis in genstat stats package (version 12) minus bubble data. bitcoin price (logged) = -0.0635+0.0013791*time predicted price= $24.24 when I first saw this, I sold everything. edit: all bitcoins  Nice, so you actually didn't pull your prediction out of your ass, but used (polynomial) regression on historical data (not sure if it's wise to exclude bubble data/outliers, though). I respect that. But do you want to know what is the single biggest assumption Dude, you either don't know the math behind what you do, or you're willfully obstinate to make a point: if you run a simple regression analysis like you did, you de facto work from the assumption that there is one and only function underlying those data points. Otherwise, you "identified" jack shit. I'm only showing that there's an extremely strong underlying trend outside of bubble data, which predicts a bitcoin price much lower than it is now. No need to get antsy eh, sorry. my field (well, of sort) is foundations of mathematics, so I can get worked up over not knowing the (formal) premises of a method one uses. anyway, I'm not even completely denying your point. I'm extremely cautious right now, and far from ruling out price will drop further. But I still consider it a distinct possibility that the fundamentals and public perception have changed enough for growth to continue from (roughly) where we are now. Time will tell. ok truce. FYI, I'm a statistical modeller. Biology? Bioinformatics? Behavioural biologist, but don't judge me. Why would I? I'm a mildly formal philosophy person, basically  EDIT: sorry for the off topic conversation. it's just that nothing happens right now.  |
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And it's closure had nothing to do with affiliation to the notorious Liberty reserve and ability to withdraw funds from the same? All the same, these are centralised enterprises. Bitcoin is run from private computers, the people, all over the world.
Of course, but you can't ignore the effect exchanges currently have on bitcoin. Well, sure but this is mostly FUD saturated, nervous speculators which affect the price so much. I still have all my Bitcoins, a good 10% of my net-worth and not planning to sell them during these growing pains of the currency. This new attention is likely the apparent threat to the USD that cryptocurrency represents. Once all the negative news tails off, I fully expect a breakout in price and volume transition to whichever exchanges or 'trading station's that are left. Seriously though, if the US gov was going to shutdown MTGox, they would of done it already. Everyone just needs to chillout and enjoy the gravy train. Why did they wait 2 years to shut down liberty reserve? It takes time to build a case. |
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And it's closure had nothing to do with affiliation to the notorious Liberty reserve and ability to withdraw funds from the same? All the same, these are centralised enterprises. Bitcoin is run from private computers, the people, all over the world.
Of course, but you can't ignore the effect exchanges currently have on bitcoin. |
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Bitcoin, kanskje litecoin. XRP er hysterisk overpriset med en markedcap som overstiger bitcoin.
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When we see that banner on the mtgox domain , i'm sure the market cap will explode into a huge market CRAP.
FTFY. IF this happens, there will be a market shock but once there is an exchange that fully complies with regulations, it will have monopoly; much like MTGox does right now. Bitcoin isn't just MTGox, fully decentralised... remember? You mean being "fully licensed" like eCardOne, who, by the way, got their domain seized today?  Mtgox should just order that new domain already, and relocate from japan to a less US friendly environment |
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When we see that banner on the mtgox domain , i'm sure the market cap will explode into a huge market CRAP.
FTFY. |
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^^ Nah. Just time to give up using .com domains. And buy namecoins maybe  |
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Technocash may be in trouble and scared after the LR case, they are known to serve payment processors such as solidtrust pay, which are heavily used for ponzi schemes and other illegal activities. "Profitable Sunrise" funds apparently went through their systems.
.... and now the price is falling...
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rule #2 of investing: defend the assets you own! What do you mean? |
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Imagine selling all your BTC and then seeing the price just leave you behind, forever...? having to buy in at a massive loss or just accept it's game over, buy that ferrari you never really needed and not look back? Bitcoin is so... revolutionary... it's like being back in the early 90s before the internet took of... like buying shares in google, apple or facebook before mainstream adoption... I can't stomach staying out of this, bitcoin is my wildest fantasy coming true... this is why I am the careful type and hold 100% BTC It's better losing some fiat (temporary) than to end up with sellers remorse. I was like that. All in. Then my wallet's worth suddenly became worth just about a few decades of fiat savings with my job.  Then April crash came. I couldn't sleep anymore. I was getting ill and turning into a zombie. So I had to sell some coins. Take out what I put in - plus a proper premium for the hassle. Which I'm shopping for real estate with. I know I miss on potential bigger gains. But if I'm unwell and die before becoming a big BTC millionaire all my waiting will just have been a sad mistake. My coins are not coming in the grave with me, for fuck's sake. I still have a lot invested in crypto. But I can sleep at night. And I can laugh at price drops. And be here for the lulz, siding once with the bears and once with the bulls. Never invest what you can't afford to lose, so true and I had to learn the hard way. I've been through a similar situation, in fact, I tried to capture that very feeling in this song I wrote about the crash. I'm not going to lie, the price swings affected my life to the point of obsession, and still isn't completely healed, but it's only a phase, things tend to get a little out of hand...but once it cools off, it's all good again Same happened back in 2011, but now it's forgotten. I've been able to sleep well at night, but I totally see where you are coming from, and why you made that decision. Instead of selling I have distanced myself from my bitcoins, in the sense that, I don't watch the price and thinks like "oh, there goes one year worth of salary". Rather, I set a price target in mind, and tell myself we'll keep cool until then, and along the way, i'll just pretend I don't have those bitcoins. Then, like you, laugh and have fun regardless of where the price goes, or at least not take it all that serious. I may not have been entirely successful in distancing, but at least I have not lost sleep thus far. My thought process is like this: There will likely be massive changes and rapid growth now that we're entering mass adoption phase, it will likely turn around in 3-5 years. What's 3-5 really? It's nothing. I'm young and can afford to take a huge risk. I don't think I'll ever see an opportunity so golden as this again in my life. If I just don't chicken out now, and keep holding, this will be my best shot ever at becoming wealthy enough to never have to worry about work again in the shortest possible time frame, or lose everything. Well you know what, being so lucky that I can take part in one of human history's greatest inventions, I'm not going to let this opportunity pass me by. Even if there will be nights without sleep, and weeks with poor work habits. I'm holding this motherfucker  |
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I hope it was worth it selling into that wall at 115 yesterday. Enjoy your evening, bear cubs.
 Oh SNAP. |
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Looking at past action, you would always do well to hold (unless you can call those tops and bottoms like a pro - but do you want to get caught with your pants down considering what we are talking about with BTC?)
Interesting... If really you want to be the careful type, shouldn't you wait on the sideline with your fiat ready, as price has a tendency to fall faster than going up? There's always the fear of a black swan event rocketing bitcoin into the sky. I don't know why, but I think many bulls have this fear including myself. I don't like to sit on the sidelines for too long, I can sit out a weekend but that's it really. Imagine selling all your BTC and then seeing the price just leave you behind, forever...? having to buy in at a massive loss or just accept it's game over, buy that ferrari you never really needed and not look back? Bitcoin is so... revolutionary... it's like being back in the early 90s before the internet took of... like buying shares in google, apple or facebook before mainstream adoption... I can't stomach staying out of this, bitcoin is my wildest fantasy coming true... this is why I am the careful type and hold 100% BTC It's better losing some fiat (temporary) than to end up with sellers remorse. |
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Det skal nok en rimelig stor revolusjon til før jeg tør å sette ben i USA men fint for de som er amerikanere, fra det jeg har sett har de fått seg en fin community i nærheten av keene området. Skulle vært noe slikt i europa. |
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