Yesterday, BlackRock Strategist Richard Turnill said there’s no inherent right or wrong Bitcoin price, no fair value.
This strategist's comment is so theoretical it's almost a joke. There is a right and wrong Bitcoin price. The test of that is whether anyone in the world would accept a bitcoin for any price above face (right now). Most people would accept bitcoin for a small premium because they'll have faith that the price would soon pass their buy price, but it's only a small amount of premium that would be accepted. Would you buy my 1 bitcoin for $10,000? No. You'd say "that's the wrong price!" This strategist just doesn't know how to value a currency that isn't backed by the GDP of a country. That's all it is. Correct the only fair value is the one people are willing to to pay for a bitcoin if at some point that value reaches 100,000 dollars or 1 dollar that is irrelevant that is what people are going to be willing to pay for it, so the current price is correct but as we know what can be considered a fair value changes everyday and that is fine, people are not used to a currency to move in this way but bitcoin is a new type of currency so it is natural that displays a different behavior as well. |
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Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?
They can try but at the end it is not going to be possible since they cannot enforce their rules they will need the cooperation from the users of bitcoin and that means that governments lose one of the greatest powers they have the power of coercion the power to make you do something you do not want, and if people decide to keep their bitcoin and not tell anyone there is nothing they can do against that person. |
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i do not think it will happen for now because of the volatility.
amazon is a giant and have a millions costumer,just imagine it if their costumer using it(Bitcoin) and the price is down.
what will happen ? mass complain will happen in the future.
at least for now they will not integrate it until it's a bit stable or until it find it place.
other than that the fees itself making it look so bad in costumer opinion and the seller themself,
they need to send a 'lot' of money in order to get one transaction,what will happen if they need to make at least 100 transaction everyday?
but for future it has a chance and has a lot of room to grow,
just keep holding it and we will be rewarded handsomely in the future.
The volatility is not an issue, people have uses services like bitpay for a very long time so I will not be surprised if amazon created their own in house solution similar to that to deal with the volatility, what has always worried amazon is the possibility of fraud that bitcoin creates since you can create a wallet with no id verification then that means that a person may claim to be anyone he wants and that is something that amazon is not going to like that much. |
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He is just trying to make headlines that is all, even the most enthusiastic person about bitcoin cannot believe that is going to happen, bitcoin is growing very rapidly but it is not growing at a speed that will allow it to reach that price in that time frame, so read the article and be positive about the future of bitcoin but do not deceive yourself thinking that bitcoin has any chance if achieving that price any time soon. |
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Yes or No? Doesn't Bitcoin unfairly benefit early adopters?
This kind of idea goes against bitcoin and what it represents, it is like saying that those that invested in apple when it was starting were just lucky or that they are getting unfair advantages, that is the way things work, people that invested in bitcoin when it was worth nothing took a risk and now they are getting the rewards by believing in this technology, do you want the same earnings then invest in an altcoin and hold. |
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I have been following bitcoin price's actions since August last year and one thing that is common is that price pattern do repeat itself. Event that happens in July to August this year is about to repeat itself again. I have been going through a lot of speculations threads and many of them are saying that bitcoin is going to clash after splitting but I disagree with that and for your information another pump is about to happen and this is going to push bitcoin price above $8,000. I have also see that this may happen before end of this year.
Following historical patterns I think is a mistake however you are not mistaken in your thoughts that bitcoin is going to touch the 8000 dollars mark but we do not know for how long it is going to remain there, at some point people need to grab their profits and that is going to create a correction in the market, however once bitcoin touches a price it is just a matter of time before bitcoin surpass it. |
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Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?
bitcoin only changes the economy for its users, if for the country level is still far away, the example of Indonesia, bitcoin users a lot, but not yet changed the Indonesian economy, only change the user's economy only. No I think you are wrong about bitcoin that it doesn’t change the economy to a country it only change the economy of a person from we observe that if a person economy become good so this is also a good thing for government because they will not work for that person to make his/her life because that person doing it own way. Yes I agree with you this is a question now a days countries are going to accept bitcoin so the question is why they are going to accept bitcoin because they know that bitcoin can play a big role in their economy as we know that bitcoin reduce unemployment in many countries so there is no doubt that bitcoin can play a role in economy. The bigger benefits of bitcoin are going to be for those countries that are early adopters, since they are going to receive huge investments and may receive even tourism from people that want to spend their bitcoins however as bitcoin becomes more mainstream and it is accepted all over the world those benefits are going to disappear as now you will be able to use bitcoin everywhere and not only in those countries. |
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hey guys im new with cryptocurrency market. i trade stocks. i want to invest in one small coin and chose SHIFT. do you think it can make me a millionaire or not? thanks
Since you know how to trade stocks you must know that is preferable to create a portfolio of coins rather than to invest everything in a single coin, shift is a good project but it is not coin that is going to make you a lot of money in the short term, you are going to need to wait for a lot of time before the project becomes a reality, so if I were you and had so much money I will invest in some of the most well known coins. |
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My point of view is by the following fork and getting some "Free" Btc gold the proce of bitcoin will decrease a lot
With a good price for btc gold. Well it will be more accurate if I said it MUST decrease after the fork
May I know your opinions?
I do not know why you thought that most of the members of the forum thought the price will go up after the fork, something that as we have seen happened, the only way for the price of bitcoin to get lower is if the community believes in the project and are willing to keep holding it and using this new coin but as we have seen people are only dumping bitcoin gold so the price of bitcoin was never going to go down in those circumstances. |
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lets check who can predict prefect price for segwit2x  I think 500 dollars is too low and 1000 to high I think something in the middle like 700 seems about right but as we know the price of those coins has a tendency to tank, but I think at the beginning is going to trade at very high prices then everyone is going to start to sell their coins and the price is going to go down, however the stable price of the segwit2x coin will depend on how much support it can actually gather since the support has been going down in the last weeks. |
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Cryptocurrency traders were having a blast Tuesday after bitcoin gained approval in the futures market, but not everyone was in on the party.
After CME said it would launch bitcoin futures before the end of the year, fears quickly arose that money would start cascading in, sparking dark comparisons with a financial crisis-like orgy of speculation.
"I have no problem with bitcoin. I like the concept," said Joe Saluzzi, a principal at Themis Trading. "I have a problem that on Wall Street the innovators are trying to package something up and put a derivative label on it when they really don't know what's underneath. It reminds me of the financial crisis all over again."Read more here... There is an ongoing party (figuratively speaking at least...though anybody can really throw a real Bitcoin party anytime anywhere much more so that the value is surging towards $7,500) right now as we are seeing a great surge for Bitcoin and there is that possibility that Bitcoin's value can be able to reach the $10K mark before the end of the year. The recent decision by CME to introduce their Bitcoin Futures to the market has been the spark that is currently fueling this big rise. But while many are celebrating we are also seeing some who are cautious about the possibility of Wall Street people entering the Bitcoin market. And we know that Wall Street had been embroiled in many financial crisis in the past. Do you see this development to be doing good for Bitcoin in the long haul? The more money there is in bitcoin the better even if this derivative market is created and it thrives bitcoin itself is not going to be affected, they are just trying to create another terrible financial product and make money with it, this is no different than all those people creating all of those useless tokens that no one is ever going to use, we have icos and the stock market has derivatives. |
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Who stays behind central banks? What is your opinion?
If you are implying that governments control central banks, that is correct. While central banks are theoretically supposed to be independent, very few central bank governors can survive in their posts if they don't have the support of the government. Indeed, it is controlled by the government, These central banks have massive lendings from the government, which are already impossible to pay back, so therefor at some day the bubble is going to burst, and some currencies are going to drop a hell of a lot, take for example the central bank of europe, where draghi is pumping out millions of euro's every day. The EU already has a debt of 11.656.129.521.903EUR That is not exactly correct, if I remember correctly central banks are both public and private corporations, they have investors and they get profits like any other shareholder, this is one of those things that remain hidden from public knowledge because if people knew that then they will begin to make all kind of questions regarding their fiat. Central banks at most of the western countries are not public corporations and are usually being operated by the local government. Why do they have to be operated by the local government? Because they have the ability to print new money, and they can not give the permission to do so at private. Central banks operating at public, as they have to, and I am pretty sure that there is a law enforcement about this thing./ That is a mistake look for the information, central banks are independent and have share holders, they are both a private corporation and a public institution, the public part is promoted to death while the private part is always hidden from the public, many people do not want to believe that information and that is because if that was true then that will mean that the whole economy is a fraud but the whole economy is a fraud that is the point. |
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It should be noted that Bitcoin is not the only potential reserve currency. All cryptocurrency is, especially more anonymous ones like Monero. A lot of people are switching to Monero as I type this, because it is actually 100% anonymous, whereas Bitcoin is only pseudo-anonymous which means if the government wants, they could track you, but with Monero it isn't possible.
But a reserve currency needs to be the most widely circulating currency and out of all the cryptocurrencies bitcoin is the most widely used so if another crypto wants to become like that it needs to surpass bitcoin and that is not something that is easy do to, while the anonymity of monero is great that is not the most important requirement from a reserve currency. |
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Hellow guys share your idea about this new altcoin now in market cap.
Should I hold this like what I did in BTC?
Really depends on what your personal outlook is. If you are a bitcoin holder then you should probably sell off your BTG for bitcoin when it is still quite valuable(this is what i'm doing at the moment). However if you are a big BTG fan, then go with BTG and sell your BTC for it. It is entirely up to you, but as i said, i don't like the project at all. I doubt there is any person in the forum with strong faith in bitcoin gold, at least with bitcoin cash you could see a few high ranked members having discussions about why they believed bitcoin cash was a better choice, so it had a small amount of followers but this is not the case with bitcoin gold and to be honest is very easy to see why that is the case, bitcoin cash is a different way to look at bitcoin while bitcoin gold is nothing more than a money grab. |
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Bitcoin price in India is hitting all records and now the price is moving towards the level of Rs. 500000 and its the signal of price correction. I think the next few days are crucial and we should be ready for a crash. In the bull run, the market captures positive news and ignores small negative news. When people starts selling to make profits, the prices goes down and every negative news are highlighted which can lead a crash. Market Needs Crash The market is going to correct itself, but to think it needs a crash you will need to determine that the demand for bitcoin is artificial and cannot be maintained and I think that is incorrect, just look at bitcoin, the increase in price seems to come from real adoption, have you forgotten that japan adopted bitcoin just some months ago? So I do not see any signals a crash is coming and instead I see many signals that bitcoin price is going to keep going up for some time. |
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Bitcoin is trending in Turkey, and the country’s central bank officials are starting to notice. This week President Murat Cetinkaya of the Central Bank of Turkey (CBRT) said the financial institution is monitoring bitcoin closely, and spoke optimistically about digital currencies. According to local news outlets in Istanbul, the president of the Turkish central bank, the CBRT, said officials from the region are researching cryptocurrencies. Murat Cetinkaya explains that the CBRT has formed a research group consisting of digital asset market participants, Turkish government officials, and regulators. The country’s banking regulator has explained current financial law does not apply to bitcoin, but has cautioned Turkish citizens against using the currency. Now in a more positive light, president Cetinkaya says cryptocurrencies like bitcoin could “contribute to financial stability.”
This does not seem like a good news, since he is actively encouraging citizens of his country to not adopt bitcoin and to not use it, then he tries to rectify a little bit saying bitcoin can contribute to the economy and that is right, but bitcoin is going to contribute to help the people and not the governments that are there only to steal from the hardworking people which are always taken advantage of by politicians and bankers. |
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Adams Smith wrote that the price of all things are equivalent to the human labor involved in their exploitation. The price of gold is determined by the cost in human labor to mine it. It can then be exchanged for another commodity which takes an equal amount of labor to create it.
Over time I have been able to find ways to place a price on stocks which I can use to evaluate what their value is to me. I can then buy and sell based on what I determine as value at any time.
I’m not a currency speculator but I also believe the US dollar is being killed. I don’t like having much of a cash position but would rather be fully invested. At this time what I see is a highly inflated value of the S&P 500. Any bonds other the very short term bonds come with too much risk tied to the Feds low interest rate policy and the increasing money supply along with quantitative easing which is placing too much fake money on the Feds balance sheet.
After many years I have developed a feel or intuition to tell me when prices are out of line. When it comes to bitcoin I am at a loss. I like the core concept of bitcoin and long term it seem like it will all work out but it’s value is another issue. I just don’t have a feel for what it’s worth in exchange for food, a house, a car, gold equivalent. It seem that it should be relatively close in value to the cost incurred by the bitcoin miners. How do I find out what the current cost is to mine bitcoins. It cost to mine a well know number kind of like the PE for a stork or index?
I have started to buy small amounts which I plan to hold but I really don’t like the volatility. It is also difficult to invest in something when I don’t really have any history to give me a clue of somethings value. I doubt I would hold if bitcoin went over 5000. It seems to be moving a bit too fast.
I do not remember where but I have read that is not the case and that theory has been disproved, let me give you an example, if you begin to paint the materials are going cost you a certain amount of money, however if you are not very good and you are not famous the art you create is going to be worth less than the materials used to create it but if you are good and you are famous the value of your painting is going to exceed the value of the materials used to create it. |
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hallo guys, i am new to trading btc. and days before the bitcoin gold fork, i was advice to sell my btc (which i did) because it was suspected to drop in price few days to come. But surprisingly, from then till this very moment, btc has been on a continuous rise. now btc is at $7000+ and we are getting close to the next fork in mid-nov. DO YOU GUYS ADVICE I BUY BACK BTC AT THIS CURRENT PRICE OR WAIT for a possible drop in price?
The first thing I would do is to look for the person that gave you that advice and say to him a thing or two, it was the consensus of most of the members of the forum that bitcoin was going to go up after the fork and even if it took a few days for that to happen at the end it happened and I have no doubt that as the next fork gets closer that is going to begin to affect the price as well. |
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I am always weary of ICO's that are willing to give out 50%, seems like they don't actually value their token at all.
It is more about stimulating early adopters. I wouldn't see it as giving away tokens that they don't value. I would rather see it as giving a lower price to early adopters. This way they have a big community backing it already from the first days/weeks of ICO. This worked very well for Electroneum, as sales increased massively everytime a certain bonus percentage was expiring. I expect the same to happen for Heardbeats as there is a very solid projec that is backed by a great proactive team But 50% as a bonus is going too far, I could understand 10% or even 20% but to go that far it really gives the impression they want to grab as much money as they can and do it fast, after all if they were so sure about their project they will not need such bonuses, and about the idea I think this is something novel and that is always a good thing but I do not know if it is going to work. |
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For those pro here what is the benefits of creating token ?
It depends on the token and the reason of why you are creating that token in the first place, I have seen many projects that the first thing I think when I see them is, why do we need a token for that? However there are some ideas that are worth it and it makes sense to create a token for that, an example of that are casino tokens, casino tokens are very close to shares that you have and receive a dividend depending on the amount of tokens you have. |
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