...
The next bubble could peak this July-August at $6000...  I know right.... The hubris I tell myself and I take from others, just too damn funny. That was my projection back in April. I plan to refit the model to the price or market cap data at the next bubble peak or year-end 2014, whichever comes first. Meanwhile, I have steadily bought more bitcoin - the most recent purchase from my local ATM two days ago. The model ... https://docs.google.com/spreadsheet/ccc?key=0ArD8rjI3DD1WdFIzNDFMeEhVSzhwcEVXZDVzdVpGU2cThat's not a model, that's wishful thinking. And stop using log scale ffs |
|
|
|
Anyway, clearly the adoption is slowing down or the new comers think Bitcoin is overvalued
Demand for use as currency in payments (a) seems to be much smaller than demand for hoarding (b) and speculation (c). If there was only demand (a), the price would probably be 10$ or less. The drop in price since the all-time high is mainly due to drop in demands (b) and/or (c).  |
|
|
|
|
You need your head examined if you believe this forum has any effect on the price.
People who are bearish and don't believe in bitcoin, when price is declining have confirmation that their beliefs are right,
and there is nothing better than knowing you're right and rubbing it in people's faces.
|
|
|
|
Actual production cost of one single bicoin is aroundt $530-$550. Any price below $500 is a steal. Buy now or regret years later. With difficulty ever increasing miners are getting screwed now cause anyone mining now is running at a loss.
It seems like the market doesn't agree with you. BTC has been way below 500 for several days now. There's more selling than buying going on. We'll be in the three hundreds a month from now. Good call |
|
|
|
Bulls have taken down Bitcoinwisdom because it was all in red.  |
|
|
|
the majority only lost money.
let talk about this in 5 years ...  And what exactly do you expect to happen in the next 5 years? Oh yeah, you hope new suckers will join the party and bail out the current losers? But then again, if bitcoin is $5000 in 5 years you will still have losers, just not the current ones, but the future ones who have yet to join. The point is there is always someone who loses. |
|
|
|
Besides the miners that HODL since the early CPU and GPU days, and a lucky few who bought and cashed out before the last bubbles had burst, the majority only lost money. Of course. Bitcoin is a zero-sum game. Bitcoin doesn't generate any revenue or produce anything. For every win, someone else loses. Exactly the same as gold. The same as stocks, the same as futures, the same of the universe, the same of the atoms... Welcome to the jungle baby, it's the survival of the fittest you guys are wrong. bitcoin is not a zero sum game, as ultimately it's use is when its converted to fiat for purchases. therefore if it gradually appreciates against fiat, the holders of bitcoin as a group would gain. The holders of the fiat would lose. But bitcoin would be a net winner. Wrong. Bitcoin is a zero sum game. All the purchasing power of bitcoin comes from fiat invested in it. And there is only so much fiat in it as it was invested. It's mathematically impossible for everyone to have more purchasing power than before. Someone has to lose. It only seems that everyone is winning while majority is holding and not trying to realize their profits. |
|
|
|
The rise from 2011 - 2014 will pale in comparison between the rise from 2014 - 2016. That is how exponential growth works.
More people than ever have been exposed to bitcoin now. It is only a matter of time before the explosion hits.
Price could increase by more than $1,000/day. Don't miss it.
 |
|
|
|
And it might be like that for years to come. In fact, now might be a good time to short BTC. This is the 1st year in which BTC has gone down. And a new trend might be setting in.  What the fuck, you said in your last thread that it would be the last warning you post. So why the fuck are you still doing it? Cut the shit no one cares what you think. This is older topic, check out the date on the post you quoted. Maybe you should have listened, bitcoin is 20% down since then. |
|
|
|
|
OP was embarrassingly wrong. This is why it is not a good idea to use logarithmic scale.
Only bull scammers and wishful thinkers use them.
|
|
|
|
Throughout the last year we have been inundated with use cases focused on "blockchain 2.0" technologies. The decentralized ledger being such a powerful idea, it is expectable that people would come up with such an overwhelming number of different use cases. This, I believe, has lead to a distraction from the true and original value proposition of Bitcoin : a better form of money. This phenomenon is easily observable. It has in fact become arguably the primary talking point of Bitcoin in the mainstream : "The blockchain is the real innovation" "Bitcoin is more than just money" "bitcoin is cool, but Bitcoin is the real deal" If you haven't watched this video yet, I cannot recommend it enough : https://www.youtube.com/watch?v=r1lqqNU3fQs#t=850First, Wences provides a remarkably insightful run down of the history of money and exactly what it represents in our society. Then, from 13:00 on, he presents his opinion about the 3 stages of growth of Bitcoin. This is what I want to focus on because I find his account to be one of the most credible and honest explanation of the dynamics at stake in Bitcoin's growth. Bottom line is : little to no one is buying Bitcoin to use as a currency. Bitcoin's store of value attributes is the reason we have gotten to where we are and it will remain, for awhile, the use case that will drive Bitcoin forward. For this reason, it is disingenuous to point to Bitcoin's "inability" to catch on as a currency as a reason for its failure. His analogy to email, while not particularly novel is very much correct. When only a couple of millions of people had access to email, it seemed far fetched to expect everyone to use it a method of communication. It remained far more convenient to use the phone or regular snail mail. It is only when everyone in your network had email did it become a prevalent method of communication. "I think that something the Bitcoin community has to be honest about, at least amongst ourselves is what Bitcoin is about today and what we would like it to be. Sometimes we make it look like it's about things we want it to be in the future. The truth is when we look at the volume of people buying the "stock" of Bitcoin and the flow of people buying their first bitcoin. It's mostly about buying & holding. It's totally fine, it's a decent use case. It's not a two-sided market : for me to buy & hold it doesn't require a counterparty to accept Bitcoin. I simply have to agree to a price that someone is selling. It has been working for 3 years and I think we can depend on that. It's not some theory, some hypothesis, it's working and it can keep working" Bitcoin will continue to grow organically with the help of its network effect and its value as a speculative store of value. Let's not put the cart before the horse people. Keep your eyes on the prize He's just trying to lure in new suckers. I laughed so hard at "bitcoin standard" and billion users worldwide, what a bunch of bs and fairy tales. You can only dream that. Yeah, wall street, general population and governments can't wait to jump in late in a expensive, volatile, unregulated, obscure currency which is owned by early miners and geeks who got it cheap. This is basically a sales pitch, with intention to make you feel good about your investment, and to convince new investors to join and continue inflating this speculative bubble. |
|
|
|
If any one want to tell different price they can post in reply,let see whose prediction is perfect.
Today btc price are $376.68
I'm giving a prize contest who guess the Bitcoin price nearest on October 14.Top two winner will be chosen and will get a price of 0.001btc each.
If someone will give answer like this-400to 500 than average will be taken,only one reply is allowed and winners will be announced on 14 Oct.gud luck.
Did you edit this post? I didn't see that in the beginning. So far I'm winning  |
|
|
|
|
"What will be the bottom price before the long climb? "
I can't answer because I don't believe there will be another long climb.
|
|
|
|
I'm hoping so. Or atleast $1300
Bought at $1200 by any chance?  |
|
|
|
I understand that most everyone here has put some money into Bitcoin, and you may not like this because of that reason, but why is the prevalent theory that Bitcoin should be worth thousands of dollars? I myself would be fine if Bitcoin was worth two dollars each, but was stable.
Thoughts?
Good point. But don't expect bitcoin cheerleaders to reply rationally. Bitcoin has a high velocity, there's no reason to price to be high, especially if considering that barely anyone is using it as u currency, price is mostly determined by speculation (holding and hoping it will go up). If it was up only to utility, price would be much lower. |
|
|
|
|
Any updates?
They're even cheaper now, did you buy more?
|
|
|
|
|
That's why bulls prefer log charts, to disguise the obvious bubble
|
|
|
|
|
Show Posts
