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Please stop quoting the contrarian troll. Out shopping, time too scarce for bs rehashed arguments and ponies.
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all that talk about mass adoption and price skyrocketing, especially in 3rd world countries.
did any of you consider scenario where mass adoption leads to massive price decrease?
the more people use it to transfer value (transfer as opposed to hodl) less value it has.
Perhaps you can talk us through the precise mechanism whereby millions of people buy in to bitcoin but the price falls. |
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Well if bitcoin is driven by greed and insanity I don't think it will succeed.
I, on the other hand, think that that is the best guarantee for something to succeed ! It is the most powerfull drive on earth. Remember Nasdaq's Bernard Madoff? He conveyed a 30 year ponzi-scheme worth billions. He declared profits out of thin air. Profits that did not exist. And when people tried to cash them in - turned out their investments werent real and they had nothing. What will happen if say BTC reaches 10 grand/btc? Everyone will start selling. However, at some point exchanges will stop, because supply will be astounding and there will be no more demand. So there goes open market for bitcoins. Those price fluctuations are possible only because very few people have large amounts of bitcoin. As the price rises coins are distributed. It has happened with each successive price surge. The price does not jump from 300 to ten k. It moves there allowing people to sell along the way. Like a market. The people who own the coins if it ever reaches ten k will not be the people owning them now! |
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18k shorts on Bitfinex. Nothing to see here !
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Me too. Market sentiment definitely has reached the maximum fear level. Greed will now slowly building up.
There's never such a thing as 'maximum fear'. I've seen this sentiment again and again over the summer: People calling the final bottom and an imminent rocket launch. Nothing came of it. BUT: I gotta agree that I, too, am optimistic that we may see a real trend-reversal. $300 seems to be quite a strong support. Let's hope it doesn't become a resistance again! good point.. perhaps the new year can leave behind all the bearishness of 2014 and usher in a new uptrend.. god knows its long over due at this point. Well it is just unfortunate that the calendar year started as the price toppled from its previous bubble high. In the same way next year is starting from a much better entry and the headlines throughout the year could easily be 'bitcoin up 10, 20, 30, 40..100..500..n%' i hope thats what it looks like lol 2014 could easily go down in history as the most bearish year in the first decade bitcoin has been around.. if we are still looking at the S curve thing the bubbles could come faster and stronger right? We are still very early in terms of user adoption and coin distribution. Silicon valley have pumped nearly half a billion dollars into bitcoin in the last year, into a digital experiment with perhaps 650k users. I am not remotely concerned. Things are only just getting started. |
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Me too. Market sentiment definitely has reached the maximum fear level. Greed will now slowly building up.
There's never such a thing as 'maximum fear'. I've seen this sentiment again and again over the summer: People calling the final bottom and an imminent rocket launch. Nothing came of it. BUT: I gotta agree that I, too, am optimistic that we may see a real trend-reversal. $300 seems to be quite a strong support. Let's hope it doesn't become a resistance again! good point.. perhaps the new year can leave behind all the bearishness of 2014 and usher in a new uptrend.. god knows its long over due at this point. Well it is just unfortunate that the calendar year started as the price toppled from its previous bubble high. In the same way next year is starting from a much better entry and the headlines throughout the year could easily be 'bitcoin up 10, 20, 30, 40..100..500..n%' |
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Imagine living in a world where you are purposefully deaf to all criticism.
There is quite a difference between being deaf to criticism and choosing to ignore deliberate negativity. There are plenty of bears on here who I listen to. |
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I can't se the negative drivel you replied. I would wager it did not address any points in my post though!
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While I accept that trading is oftentimes more based on mass psychology than actual facts, I still find the "gox effect" to be puzzling.
If there were about 800k coins that either didn't exist or had already been stolen and were elsewhere, then there was 800k of fake liquidity in the market. Now depending on how you like to define total liquidity, that would have been anywhere between 5 and 20 percent of total liquidity.
When this was exposed, this should have had the effect on the market of bitcoin BEING 5 to 20 percent rarer, since the pricing up until then had been based on those coins being available.
I know the willy bot would have had some effect on ultimate highs, but I'm not convinced that in it's absence we wouldn't have seen 90% of the peaks at least, because really, independent traders would have been trying to work toward the same effect.
Anyway, I guess the mass confidence loss in the market due to gox shenanigans has had a big effect, thing is, when that confidence is back, that 5-20% of liquidity is still missing, so there seems to my mind a theoretical possibility that the market could see unprecedented rises.
True. But don't forget that people who bought vapour coins on gox currently have nothing. Lots of people. That is bound to have an effect. Willy is irrelevant as the last bubble was led by China and has never been confirmed. The major reason in my mind for this long bear market is that there were two bubbles in 2013 which drove up the price massively. It is understandable that the market is working through those gains now. For people who see the speculative potential of Bitcoin it has allowed some excellent opportunities for accumulation. If Bitcoin was a major technological disruptive revolution at 1000 dollars, then it is a major buy at 300. Nearly half a billion dollars VC funding has trickled into Bitcoin in the last year. Engineering a price rise in this thin market is trivial and if that is what it takes to bring in the next major wave of adoption for BTC then that is what will occur IMO. I see a lot of intelligent people question the use case for Bitcoin. For merchants it is a clear no brainer over reversible transactions like cc or PayPal that charge excessive fees. For the public I think it will be the first asset since gold that will function as a reliable and growing store of value with global utility as an Internet currency in the future. That is the selling point, the monetary properties that we all take for granted now, but were amazed with when we first discovered bitcoin. Expecting such a fantastic asset class to be owned and used by joe public to the exclusion of 'big money' is silly. For this reason I think we will see massive price rises front run by investment houses and high net worth individuals or funds, possibly facilitated by an ETF. Ignore the Bears and trolls like NotLambChop who sold very early and rue that decision every day, hoping for one more opportunity to get back in. They wouldn't be here day in and out if they didn't hold precisely the same belief in the potential of Bitcoin as everyone else. |
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Please stop quoting the resident troll picolo, please.
I suspect you will learn, as most have on here, that he adds nothing useful to the discussion, simply sows seeds of negativity and wastes your (more) valuable time.
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As more players enter the market it is natural that profit taking will happen after a lower threshold.
But Bitcoin remains very limited in supply and as adoption continues the price will still rise as it has in the past.
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"This user is currently trolling ignored."
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BTC has to fall a lot further for it to stop falling if that makes any sense. I've been saying this for a long time now. the numbers are pretty easy to calculate.
3600/coins a day mined at current prices = $1.1 mil. which equates to $33/mil/month. That much money needs to flow into BTC JUST TO BREAK EVEN. Miners and electricity are fawking expensive and they dump the coins to pay the bills.
The reward half will help but that's in 80 weeks! And even then 1600 coins will still be coming out for 4 years. So at current prices that would mean Still another $15/mil a month. This is to just cover the new coins. If anybody spends other coins then more money needs to come in to cover those.
It's really not that hard to see why BTC will be on a downtrend for a long time.
If you cannot see the obvious fallacy in this argument then just promise not to moan you didn't buy in when you had the chance. |
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Don't worry Trollchop. I used my OH's phone on circle and bought my weekly fix. Now the price can do what it wants this weekend.
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Why do we have "Buy Buy Buy" and "Sell Sell Sell" threads started on the same day?  People have such diametrically opposite views on Bitcoin. Simple explanation: Emotional people sell during a drop while rational people buy Emotional people buy during a rise while rational people sell. Thank you... This is how I make all my money! Great explanation  Where does your mindless booktalking diarrhoea fit in? |
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My motivation for creating this, if I had one, was to convince myself to let go of the HODL mindset. Investing in dollar? wow, very good idea. (sarcasm)
And it has a high potential for growth.
Trust me. $1 will never be equal to even $1.1 Grin
But
1BTC has a great chance to be at around $600. The key is to store your wealth where it will gain/retain the most purchasing power. Over the past year or so, the USD has beaten bitcoin at holding purchasing power. In previous years, it's been bitcoin by a long shot. In the future, who knows? Who knows. But perhaps selling after a 12 month bear market in a sea of good news is a bit silly. |
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broken my phone. cant buy bitcoins as no 2 factor grr.
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Tzupy perhaps you are taking the bearish victory too soon (most unlike you to be bearish, ha!). There has been no confirmation of a signal change from Oda yet.  |
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Enjoy the roller coaster pick up starting tomorrow You bought so bitcoin is now great. Hmm. Do we get an apology for the diarrhoea you have dribbled over this forum for the last few weeks trying to talk the price down? |
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Are you currently in the red or in the black? How much of your wealth have you put into Bitcoin?
Definitely black for now. I haven't calculated a break even but it is probably somewhere in the low 2xx's I would guess. Originally I put in about 1% but it must be easily over 10-15% now. I don't track it that closely, my other investments/assets yoyo up and down a lot and once you have enough savings to last a decade stashed away it all becomes a bit meaningless tbh. Far more exciting than Apple shares though. Blitz: any chance you can delete the bitscam thread fallling keeps reposting.. |
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