Huh, well there are some people who claim that the ETF is already priced in and people may even not be that interested in the ETF as much as everyone seems to think! If the ETF fizzles, the price will suffer even more. I for one am afraid of that ETF!
I don't know why people keep saying that the ETF is priced in, since that is logically impossible, the ETF itself is the mechanism by which that new money would be entering the bitcoin economy. On the other hand, the prevailing attitude that the ETF approval is a foregone conclusion, is certainly not the case. What happens if the ETF is not approved? The process of getting it approved seems endless. Is there a time limit on it? Article says Q4 2014. It also states “If Bitcoin can do the same thing for finance that the Internet did for communications and shopping, a single unit could be worth "hundreds of thousands of dollars" in 10 years."  |
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The ETF will take us there in 12 months if it gets approved.
wrong. this is a dangerous assumption. if anyone wanted to buy bitcoin, they would have done it by now. there is no money waiting on the sidelines for an ETF approval. they would have used an exchange or bought directly from a miner on contract if they wanted. That's the reason nobody trades in paper gold  ETF will make Bitcoin accessible to trading companies and make investing easier, safer and legitimate. |
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Adam, could you say more than that ? I would like to understand what you mean.
Market cap is current price per coin times number of coins that exist. But if someone actually tried to sell a significant number of coins, the market price would quickly collapse. The money "holding up LTC" is not equal to its market cap. A better indicator of the money holding up LTC would be how much demand there is for LTC at or near its current pricepoint. Exactly, the market cap is something people tend to get wrong. There aren't 6 billion USD invested in Bitcoin at the moment. It's less. If someone decided to sell a lot of Bitcoin, the price will go down, yes. I often don't get how people can be so obsessed with the market cap. On the other hand: If you see how much money there is in M1, M2, etc. you can only imagine what will happen if only a percent of that went into Bitcoin... I just answered the question to my best knowledge, I am not obsessed with marketcap. I agree that if people sell a lot the price will go down and the marketcap will plummet too. Reading your post it seems that there is no way to answer the question on how many USD is holding up LTC or BTC. |
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be worried. be very worried. bitcoin is going nowhere but down.  Why not post a completely crap trendline while your at it..... Like...  |
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Fun thing I have >50% of my money in Bitcoin, but this is only due to the rising price of Bitcoin. Hopefully I will soon (bubble) have 1000% more money in Bitcoin than fiat Currently I'm trading to earn more and have stopped putting more fiat in. |
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I think his estimated timeframe is a bit conservative, possibly in 2 years.
Next month would be fine with me  |
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The only time you should borrow money to invest is if you have insider information. So legally never.
Not quite true. If you trade using a trading platform and want to short you essentially borrow money. This does not dismiss the fact that you must at all times have enough margin on account to cover your losses. With correct money management it isn't a problem. Taking a loan from a bank and putting it into Bitcoin is a bad idea unless you want to be a debt slave the rest of your life. |
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Definitely not more than I can afford to lose! If we go down (i.e. sink completely) at this point, it will hurt. Quite a big bit, that's for sure. But I will still have conservative reserves, no outstanding debts to pay and am in no imminent danger of living in a cardboard box.
This sounds like someone with good mental health  |
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Investing money is one thing but being greedy is not good. Looking at the yes votes some people are in for a rough ride.
this is like the definition of investing tho, lol No a rough ride is having to sell off your investements because you cannot pay your rent. Investing in a smart and controlled way let's you sleep at night since you can still pay your bills and allow for some unexpected circumstances. |
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Funny that LTC seems to be pushing upwards and BTC isn't yet how many million dollars are holding up LTC? $ 171,525,000 (coinmarketcap.com) approx 2.72% of the marketcap of BTC. |
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Funny that LTC seems to be pushing upwards and BTC isn't yet |
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Investing money is one thing but being greedy is not good. Looking at the yes votes some people are in for a rough ride.
Bitcoin is high risk, high reward and I emphasize it to everyone I speak with. Other people I know marketed it to friends and family as a sure thing.
In this bear market a lot of people got burnt and still are waiting on recovery. Since I explained the risks and rewards to people they knew what they were getting into.
The people I know who didn't do that got an avalanche of shit on them.
You need to be a realist and realize that Bitcoin can still go two ways. Maybe the longterm is looking positive but there will always be prolonged periods of downtrends aswell.
Yes I am a true believer in Bitcoin, but to throw all your money at it is as your only hope is a very desperate measure.
Keep enough fiat in reserve so you don't have to sell off coins when your washingmachine or car breaks down.
Be smart, be a bit conservative.
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Dude i'll be like 35 in 2020. Can we go a bit faster?  I think it would be great if bitcoin will be valued 252,000$ in 2020, I don't have any problem waiting 6 years The real question is how much Gold will you buy with 1Bitcoin in 2020; today you can buy 5/13th of an once but in 2020 one once may be 50,000$ so you will only buy 4onces with one bitcoin if a bitcoin is 252,000$ so 8 times more than today A full bar |
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Central banks could CRASH the Bitcoin price simply by slowly accumulating BTC then dumping it all at once on the open market ...
It would be fun if Central Banks try this and fail. This due to the fact that people buy the coins at the extremely low prices. Effectively this would be a Central Bank committing suicide and surrendering to Bitcoin (POWER TO THE PEOPLE!!!) |
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kraken is all you need and if you live in belgium or the netherlands bitonic is even better if you need to buy/sell instantly (a bit higher fee, ofc) I use Bitonic. The only problem is that the coins run out when it's bubble time |
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Wow, this is really cool. Finally Coinbase is coming to Europe. Lets hope lots people and merchants will use Coinbase. And the great thing, if both the buyer and merchant are on coinbase they dont even use a blockchain transfer and you can safe on the blockchain fees as well (those might actually increase in time. And faster than having to wait for several verifications. Probably you would only need to use the block chain for transaction where the merchant uses a different payment processor. But then again, if they get a monopoly they could use internal transfers for basicly everything. Come to think of it, it would be basicly like PayPal. Just cheaper because its based on Bitcoin ... and, uhmm, doesnt use bitcoin internaly to avoid fees and have faster transaction. Hmm, but well, if you can skip that billion dollar mining industry you would safe a lot energy. Yeah, green, save the planet and things ... Hmm, yeah, this is cool. Right? So we're not basically praising a centralized solution for eliminating the caveats of our beloved Bitcoin technology? I guess we're doing something wrong here, then... Also, it is transaction fees. Blockchain fees sounds like blockchain.info gets a piece of the cake Bitcoin itself is decentralized. But I personally have no problems with newbies using a centralized (and easy) method of getting their first bitcoins. I remember back in 2012 I couldn't get anyone to sell me bitcoins for shit due to having no rep on the OTC. Having a few centralized places for newbies to get their bitcoins is good as it takes the risk away from having to deal with individuals online, especially since no one in their right mind would take paypal for bitcoins, that means they typically have to work even harder to get ahold of them (IE Moneypaks or Western Union) I believe there should be many (trusted) places you can get your BTC. They should be located in many different countries and should accept foreign orders. The reason for this is that you can't take down the Bitcoin economy by stopping just a few exchanges/resellers. This would make it decentralized. |
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gold can be manipulated easily because the same bar of gold is sold over and over.
a lot of people are (believe it or not) stupid enough to buy gold and leave it in a vault, only getting a paper claim on that gold.
Since the gold is often sitting for years or decades in the same vault, they can just resell the same gold and no-one is any wiser.
However, reselling the same bitcoin is pretty much impossible, as it's widely known rule #1 of bitcoin, if you don't own the private key you don't own the bitcoin.
Yep this is the reason the federal reserve doesn't allow countries to see their gold. It's been sold again basically making the Federal Reserve a Bernie Madoff like ponzi scheme. P.S. If the US Government disagrees i'd like a tour of the vaults. And will retract this statement  |
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Again a sizeable dump. No follow-through selling from panicked weak hands. If there is no one left to sell then perhaps the bottom is near.
Hopefully get to buy a few more coins at below 500 dollar prices..
It's good that there are no more weak hands. Hopefully there are a lot of panic buyers when a rally starts |
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I voted bullish but fear it will be neutral for a bit longer  |
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