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Bottom line, bitcoin was designed to be cracked. Price won't change from a collision here and there.
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What effect will that have on the bitcoin economy?
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I sense a crash coming. Share your floor predictions.
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How much (PM please  ) |
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Will there be any more group buys for this model?
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I wanted to ask any professional traders or people with more experience what they do when markets stop moving and there isn't much activity going on. I realise this is a pretty noobish question but I'm teaching myself how to buy in a disciplined way because I've found I always keep making life harder for myself by panic buying into an altcoin. Do you think it's a good idea to just hang back and observe the prices rather than just rush in and wait for a sensible low price to pop up or is it sometimes worth the risk if you think there's going to be a surge of buyers coming in? For me I've found that a price rise never usually happen fast and when I buy in at what I think is a new low it always drops further meaning I have to wait longer in order to make any money but I don't like the idea of a price spike suddenly happening and me not being there for the profit taking.  Work hard at a job and invest when it crashes. Has worked for me for 2 years. |
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This belongs in Speculation.
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I hope so but some people don't like changes and BTC prices are too unstable for it to take over. What if your transfer drops 10% in value before it reaches its destination?
Banks can control losses and gains if they use Mt Gox. If a person wants to do a bitcoin wire for sending $100USD to another branch of the same bank, then the bank does the bitcoin transaction internally and has great control over the losses and can guarantee the that $100 will be given on the other end. Plus they make up for any anomalies by charging a fee. The Block chain message service could also be used to direct bitcoin transactions to accounts of other banks, wells fargo --> bank of america for example. |
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 Nice ruse, OP. This is an Error Level Analysis, it measures the amount of JPG artifacts left behind by additions to the image. You can see the QRCode has a high level of artifacts caused by it being photoshopped into the image. |
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The thing about bitcoin is that it's easier to truely "wire" currency, compared to old fashioned bank wire (which will go extinct soon).
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If Bitcoin was adopted by a country as an official currency, could the Bitcoin network handle it?
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Could you imagine what would happen if someone buys 3 houses with money that he lent from his bank and then house prices collaps ? It would be catastrophic. Could you imagine what would happen if the gov bans gold trading or makes a 80% tax? nothing is safe. if you have no money, you have less worries ;-) I never doubted Bitcoin's ability to be traded. Governments who ban gold would be foolish and would miss out on a lot of economic activity. I question Bitcoin's ability to be reliable down to the machine code, can we trust bitcoin's reliability vs the element Au? When it comes down to it, will Bitcoin be here in 20-30 years? |
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Don't you ever step back and look at the big picture? We are putting our faith into a complex mathematical equation, nothing but encryption to guarantee a transaction among liquid currencies. So far the algorithms within Bitcoin are holding up while guarantees/shares/bitcoins, equal to billions of dollars, are floating around in the ledger. Could you imagine what would happen if someone found a way to crack the encryption and forge bitcoins? It would be catastrophic.
Instead of putting our faith in gold, we are putting our faith in algorithms.
This worries me because remember Internet Protocol version 4? We thought the algorithms within IPV4 would hold up for the future when in fact it did not and we ended up developing a bunch of hacks like NAT so that the internet could handle more than 4 billion hosts.
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This is getting exciting  |
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It seems that most people are not selling and just riding it higher. This seems to be the best strategy right now. I wonder how high it can go if most people don't sell and just a few coins are really put on the market.
At one point when the momentum stops and people start to sell it is highly questionable if the money will be there for all the people who want to cash out.
I think most normal people are simply not buying and it must be some big investor trying to corner the market or something.
If what you say is true, then the market is at the mercy of the sellers/holders, which usually makes a nice storm when the bubble is popped. We are reaching the point of market saturation where there are no more buyers left in the current bitcoin adopter pool. This realization will cause most people to panic and try to reach for that big pot of gold at the top of the bubble. I find it very likely now that we will hit no more than $2k and panic selling will be the next big news item. |
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I've been around during the last 3 bubble bursts. Seeing the current state of the bitcoin economy today, it looks like the bubble is about to burst, probably around $2k is when it seems ridiculous and then everybody starts to sell off in the next couple weeks. Some of you may not be able to smell the smoke, but I do.
If 1000$ doesn't seem ridiculous and people keep buying then nothing will change at 2000$. See you at 10000$.  Yeaaaano... I look forward to the end result. |
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you still got 67btc, right?
Got me $300 last year, was proud of it and still am proud. Unfortunately I didn't recognize that investments need to be long-term to get the maximum benefits. thats a shame...... no point looking back bro. I am very tempted to just blow $22k on a certain miner because I now know what bitcoin is capable of. |
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you still got 67btc, right?
Got me $300 last year, was proud of it and still am proud. Unfortunately I didn't recognize that investments need to be long-term to get the maximum benefits. |
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I've been around during the last 3 bubble bursts. Seeing the current state of the bitcoin economy today, it looks like the bubble is about to burst, probably around $2k is when it seems ridiculous and then everybody starts to sell off in the next couple weeks. Some of you may not be able to smell the smoke, but I do.
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