 Show Posts
|
|
Pages: « 1 [2] 3 »
|
The most convincing argument against mass Bitcoin adaoption to me is this:
1. The average human IQ is 100. Let that sink in for a while: 100 is average.
Think about what a massive challenge that represents.
You could have used that argument against the mass adoption of computers 30 years ago... |
|
|
|
Ok DavidZ imagine price moves up violently and breaks 900. Your move? Not saying it does or will, but it sure as hell can  I doubt that; but even if it does it will be followed by an similar correction. |
|
|
|
On bitstamp (not including bitfinex orders):
10k btc to $500
20.26k btc to $400
34.24k btc to $300
On gox:
19.75k btc to $500
38.14k btc to $400
54.55k btc to $300
That's only 0.8% of all bitcoins holding up the price above $300. Workings: ((34.4 + 54.55) * 1000*100)/11E6 |
|
|
|
I think the collective of newly wealthy bitcoiners with fiat sitting on exchanges, alone, is enough to buy out all of the bitcoins at $50 or so. $10 would not even be physically possible, without some change in fundamentals. I don't even see 300 happening. Look at all the orders at 400-500.
How do you look at market depth that far down? I'm using btce and bitcoinwisdom. bitcoinity.org/markets trading.i286.org All I see at bitcoinity is that 400 can be sold until the price goes below 582. 400 btc out of 11 million. |
|
|
|
I think the collective of newly wealthy bitcoiners with fiat sitting on exchanges, alone, is enough to buy out all of the bitcoins at $50 or so. $10 would not even be physically possible, without some change in fundamentals. I don't even see 300 happening. Look at all the orders at 400-500.
How do you look at market depth that far down? I'm using btce and bitcoinwisdom. |
|
|
|
Negative net volume means sellers are now controlling the market and it is start of a bear market with lots of bumps.
What's negative net volume? |
|
|
|
Cashing out is a big no no in such an uptrend market. You will miss buying opportunities thanks to our banking system.
It depends on your time horizon. There are hourly swings in price, daily swings in price, weekly swings in price ... It is unclear to me when this will bottom before reaching a new ATH. When I see the buy signal I will be back in. This could bottom at $10 then swing back up to $300 at which point I may buy back in and own twice the coins I did before. The price could then increase to $2000. I'm not saying buying and holding isn't a bad thing to do. I just see may strategy as a good way to minimize risk and maximize profit at the same time. I think a more realistic scenario is if the price bottoms at $300 then goes back up to $600. And then what? Wouldn't you have liked to put in your buy order now?
No; I just sold for this price.  Something has to go catastrophically wrong for us to hit $10. Off the top of my head, I can't think of anything like that.
I can: an unknown unknown. |
|
|
|
Maybe Keynes was right?
Perhaps a currency that loses value is better?
Why do you think that? I don't. But Keynes thinks we should all lose wealth to big corporations that have first dibs on new money before it loses value. Yep, I don't like Keynesianism either; a most fraudulent economic system. It has caused a lot of harm. |
|
|
|
Maybe Keynes was right?
Perhaps a currency that loses value is better?
Why do you think that? |
|
|
|
a good way to minimize risk and maximize profit at the same time.
You mean the risk of the bank taking all of your fiat (especially the ones that like to freeze Bitcoin users accounts)? That only happened to the directors of Coinjar here in Australia. There have been no instances of members of the public having their accounts closed for buying bitcoin here that I am aware of. Though I do accept that this is possible so I may create an account with another bank to mitigate this risk. Or the risk of the dollar collapsing? You know...that whole $20 trillion debt and QE infinity...
This is another risk also of which I have taken steps to minimize. Maximize profit? The value of Bitcoin has gone up by at least 1000% yearly...I would hate to be stuck with fiat.
Past performance is no guarantee of whatever... |
|
|
|
You got to hang out with Bitcoin for a while to tell this is actually just a phase in the adoption cycle before the price does its usual  Quite likely, but as has been pointed out I am new to bitcoin investing. Whatever happens will be enthralling to be part of and I do believe cryptocurrency is a truly revolutionary technology. |
|
|
|
Cashing out is a big no no in such an uptrend market. You will miss buying opportunities thanks to our banking system.
It depends on your time horizon. There are hourly swings in price, daily swings in price, weekly swings in price ... It is unclear to me when this will bottom before reaching a new ATH. When I see the buy signal I will be back in. This could bottom at $10 then swing back up to $300 at which point I may buy back in and own twice the coins I did before. The price could then increase to $2000. I'm not saying buying and holding isn't a bad thing to do. I just see may strategy as a good way to minimize risk and maximize profit at the same time. |
|
|
|
That could be 2 - 3 months from now and this could bottom sub 100.
and? ... whoop de do we went from the unbelievably vertigo inducing price of $32... to $3 so $100 would be meh, not that I expect it to go much under $400 really So if you sold now and bought back in at $400 you would then own %50 more bitcoin than you have now. |
|
|
|
So oneŽs background in trading is now judged upon amount of time spent on Bitcointalk? YouŽd make lovable financial advisor.
not in the least, but those of us who have been around here for a while have been through this umpteen times, there are just more zeroes after the numbers now in percentage terms this "crash" is small potatoes compared to the rollercoaster we have ridden these last few years yawn, wake me up when we break 1K again That could be 2 - 3 months from now and this could bottom sub 100. |
|
|
|
WHOA!!
guy with 19 posts, been here 6 weeks is bailing
STOP THE PRESSES!!!
SELL! SELL! SELL!
So all the way up to the moon from here then?  |
|
|
|
Dont be a little pussycat. If ur out dont ever return. Get rich or die tryin
Idiotic, emotive argument. |
|
|
|
I've cashed out but this is not the end. If one examines the one day chart of btc at http://bitcoinwisdom.com/markets/btce/btcusd one can clearly see that we are in the midst of a steep multi-day down-trend. There are still opportunities for profit for day traders but I will be having a break from that for a while. |
|
|
|
|
Bitcoin could be superseded by another technically superior cryptocurrency. Smart analysts could be rewarded handsomely by being early adopters of such a currency. Technological lock in could help keep bitcoin "numero uno" for some time however.
|
|
|
|
He's a troll and I believe you've made good points.
Thank you but I don't know if he is a troll. To me a troll is someone that types nonsense in all caps. People that disagree with you are not necessarily trolls. He is just pushing for centralization of control of the money supply which is not something I would support until I see valid arguments for it. He obviously is trying to scare people away from cryptocurrency. |
|
|
|
|
