there's absolutely no way in hell i'd be buying eth and forgetting about it for the long term. these guys are making it up as they go along and there are no doubt giant holes waiting to be found. still, that never stopped anyone pumping it so if you can get in and out fast enough then it's fine.
Good advice. I can't imagine holding long term especially when there still is no hard cap or rule regarding the maximum amount of coins that will be produced. |
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Thanks for the advice amacar. I've noticed ether has been bleeding downwards lately so I'll wait. You think ether will contain to go down as bitcoin continues to rise?
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Seems like a good time to buy it price wise, but I don't like that there isn't a hard cap on the number of coins that will be produced. Are most of you just buying it short term and flipping it?
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I wonder when we will see the prices of bitcoin raise above 1k. There has been some negative news about bitcoin influecing the price in the past so 2016 was not the best year.
But hoping for a better year in 2017 where we see high values and then the wait finally pays off.
For now 2016 has imo been a very successful year.Remember last year around that time we had been in the 200s!Now we are in the 600s!That's 3x up my friend!! Regarding the $1000 we will see them again.It's a question of time that's for sure. It might not happen this year anymore but I'm pretty positive somewhere around 2017 we can reach it again and maybe build a new ATH. Keep in mind that the core devs are working hard and SegWit + compact blocks is around the corner. Bitfury and Acinq have together made the first steps in terms of lightning routing! Other companies are working on similar or different implementations like Thunder and Falcon for intance. So in terms of technological progress we are moving forward. And that has to be the first step for more and more adoption which will create higher values. So have a bit patience my friend.For a fully working, secure and decentralized network on a big scale, things have to be done properly! Also, the halving that took place a few months ago will continue to put a constant upward pressure on the price  . I am with you all the way, Denker, and you beat me to the punch on some of the matters that you addressed. Regarding the next ATH, you are correct that it could take sometime to evolve into such and could take place in 2017, yet it could happen at any time.. It is really difficult to know for sure. Sure at this point, there seems to be various resistance in the $600s and $700s, but at the same time, that resistance can melt away very quickly when certain mile stone announcements are made in terms of the various developments that you outlined that kind of revolve around seg wit technologies. Also, as you imply, seg wit does not really solve any kind of scaling issues on its own in order to facilitate greater adoption, but it certainly puts wheels in place to allow for more and more developments that could cause a variety of "killer apps", and yeah, the market responds in weird ways and at weird times to attempt to price in these future developments at a time that they become more clearly solidified, but probably before the rest of the folks realize the positive impact of such solidifications. TLDR: We got a lot of factors in place that are placing considerable upwards price pressures on bitcoin that could cause rapid exponential growth, yet it could also just grow more slowly, too, even though the upwards price pressures seem to be fairly solidly in the mix of our current bitcoin place. Also, the halving that took place a few months ago will continue to put a constant upward pressure on the price . |
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I'm becoming convinced that our poor Fakhoury bro got abducted by ISIS.  I was thinking a space alien abduction😆 It's unfortunate but if I remember correctly he said he quit posting because some person(s) were giving him crap over his articles. I wish he'd come back too though. |
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Thank you for this Denker! That was a very good read and very exciting. I'll have to start looking for some good articles to post here too to keep this thread alive . |
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perform a holding period of 2.5 years was extraordinary action.
I really wonder what is the average age or investment experience of the Bitcoin population. Is it all just gambling for a quick buck? 2.5 years is very short term 'investing', it is nothing compared to stocks / bonds / pension funds etc. Buy bitcoin (or any investment really, diversify) and forget about it till the date you want to retire. Then start spending 4% per year and you will have a financial perpetuem mobile. wow, good advice there. That is preferable than just saving to banks. With bitcoins, you can either hold in your local wallet or invest it to some good altcoins and forget it until you reach your desired price goal and cashout. Investing for a short period of time oftentimes gives much stress and disappointment due to volatility unless you know what you are doing. The reason I've been holding for "only" 2.5 years is because the first bitcoin I bought was 2.5 years ago - can't fast forward 10 or 20 years  |
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Unless you really need the money, I don't see the point in selling. A bunch of money sitting in your checking account doesn't do any good. The people who feel compelled to sell are most likely over invested. I was for a little while and really had to fight the urge to sell. Just don't over invest and you'll feel much more relaxed and won't fret over temporary pumps and dumps.
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I started buying in January or February 2014 around 600 a coin, and kept doing so until March 2016. Never sold any of them, and I'm up well over 200 bucks a coin.
Another case in point that if you just have patience, wait, and keep emotion out of it you'll do well in the long run.
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What happened to Fakhoury?  |
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the only reason that you can see people being sad and disappointed in the current bitcoin price is that those people were hoping to become rich in a week after they bought bitcoin and since that dream has not yet happened they are mad at bitcoin.
Actually when price pumped to $780 before the halving people started to expect that now $1k will be easily achieved and hoping that they started to buy coins, but unfortunately price started to drop after that. I was even seeing people thinking the price to reach $2000 and up. That's how a hype works. It makes people buy into the momentum, even though the price was nearly at it peak as soon as it went over $700-$750 back in June. I am glad nearly all people have calmed down and lowered their predictions. And yes, there are still some people here thinking the price will reach $1000 this year. Agreed. Unless you're a good day trader it's foolish to buy when the price is shooting up. Now is the time to buy, or when the price is dropping, or flash crashing. I do think we will see a slow steady upward trend/pressure on the price over the next several months though just because we have half the number of new coins being mined per day now. |
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Boredom already? We've only been stuck in the upper 500s for less than a month. We spent nearly a year in the 200s. Come on people.
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People who expected to get rich over night are idiots. I'm sorry, but that's true. Nothing is guaranteed. Sure, it could happen, but you can't count on it.
Bitcoin will chew you up and spit you out if you don't know what you're doing. That's why I always buy to hold long term (spend money you won't need for years) or be a damn good day trader.
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G-unit, that's a pretty good summary of what happened, and it's true and concise. So I think if we stay at this level for a while--or a long while, maybe--it's not a bad thing. People were hoping for ridiculous fantasy prices of $1000-10,000, and that ain't gonna happen. There's still strong demand for bitcoin, but you would have to have absolutely massive demand to drive the price up that high.
Thanks Pharmacist! True, but I do believe 10K plus will happen, just not nearly as soon as people would like. It bitcoin ever becomes mainstream one day, it could easily be worth 6 digits a coin. |
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So why is everyone freaking out about a "low price"? Because everybody thought bitcoin halving = doubling difficulty = doubling the price of bitcoin. I'm one of them to be completely honest with you guys. When it pumped to 785$, I was all like "Okay, the pump is just starting." Until it went lower and lower and now we're stuck in this price which is much better anyway compared to the price before the pump. At least you are honest and not sour. I guarantee if you hold for 2 years you will see a nice return. I'm living proof of it. I would take advantage of the depressed price at the moment to be honest. |
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OP, that is a good assesment. It is also a reason to think that BTC will stay below $600 until the end of the year or more. The problem now is when will BTC rise again? According to your assesment it was because of the anticipation of the halving that BTC rose to $700+. So maybe the next rise will be after 4 years in anticipation of the next halving?
It will be sooner...either by late 2016 or early 2017 I'm guessing. People are still waiting to see where the price lands. Every smart buyer wants to buy bitcoin at the best price possible. Eventually people get tired of waiting for a lower price and buy. Price rises a little. Others say "ok, this is the time now". Price goes up more. We get a chain reaction and a price spike. Also, before long the decrease in the supply being produced will start to put upward pressure on the price. |
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this is a good point but the reason for this low price at this level is that the price was pushed down not a normal decline after a big rise.
you forgot about the bitfinex hack and the okcoin situation, these things keep the price down and if they weren't available the price would have risen by now.
True, but we would still be below 650, 700 for sure, without the bitfinex hack. Okcoin situation is old news. Anyways, we would still be in a post-halving correction regardless. |
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I believe last summer the price was even less than $350 as you said. the price was very low before the big pump that happen at the beginning of October and November
I meant the price was approximately $350 lower at this time last year, as in, actually price was in the low 200's . |
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So we had the halving hype and lot's of people pouring money into bitcoin in anticipation of the halving. This pumped the price to $785 a coin which was pretty much expected or at least not surprising. Once people realized that the "halving run-up" was over, they profit-booked, causing an expected correction. It took a while to find a consolidation range, but it seems we may have finally found it ($550 to $600). This has happened with all other halvings in other cryptocurrencies.
So why is everyone freaking out about a "low price"? We are up $350, give or take, from the price at this time last year.
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I'm going to be completely honest right now; there is a small, small chance that Ethereum will be able to recover from the hack. The community that exists right now is more or less going to be the community it will have for the rest of its lifespan, and that's because those who are still here are the ones that have confidence in it after all the events over the past two months.
I am not trying to spread FUD, but when a crypto gets hacked at the network level, where control is basically lost, it typically collapses due to people leaving and the loss of trust completely. If you can name a crypto that has recovered from a hack that was as in-depth as this one and managed to walk out relatively unscathed, I'd like to read about it.
This. I was torn about buying ether and leaning toward doing it before this hack. This hack has easily made up my mind. Never going to buy something like this unless it drops to less than $1. |
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