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Let me guess. You own ripple and are short bitcoin. You also called bitcoin a pyramid scheme bizarrely to support your argument in some way.
GTFO.
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Similar protocols exist today (like Ripple), if they won't be the future specifically, something else that works in very similar ways, will.
..
And I know that you don't wanna hear stuff like this because you wanna get rich quick with the pyramid scheme aspect of Bitcoin... At least don't lie to yourself.
Take poorly disguised ripple spam to another forum please. |
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Direct quote from the book: "Returning to the issue of the future of Bitcoin, in the short to medium term – barring a major upset – the most likely scenario for the Bitcoin market is more of the same but with the market lurching towards maturity. The Bitcoin market will continue to grow, but in a fitful manner with one boom–bust cycle after another before settling down as the growing size of the market makes manipulative attacks more difficult and the exchanges’ risk management continues to improve." |
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-pathetic trolling-
Internet forums are wonderful things aren't they? You can noisily fill the forum up with lies about being a millionaire trader and accuse others of being broke. While ironically this forum is chock full of actual millionaires, many enriched by the very financial instrument you try and bash so badly. You really are a sad little creature! That's the great thing about being a millionaire trader. You've got lots of free time to spend all day spamming FUD on forums and telling everybody how rich and successful you are. Quite. That means NotLambChop is worth tens of millions! |
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Why do you keep droning on about pricing bitcoin based upon 'demand for use in payments'? Clearly this has never, nor will be for a long time, a decent measure of how to price btc.
Sigh. Do I need to count the posts in this thread that claim that the price must go up "soon" because "adoption is booming"? Please take issue with those who say so... Adoption != using bitcoin for payments. You are trying to price bitcoin in this manner even though the price is supported by speculative investment. Last week 50,000 coins were snapped up private investors. Despite 3,600 coins being created daily and a horrific bear market the price is still ~$350 dollars. Your continued puzzlement over why bitcoin has value will not stop the next price surge either. |
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Wow you must really think gold has stopped going down lmfao... That's what you think about bitcoin too??? Bouncing off the bottom huh???
LOL! If you don't want to speculate & just want to say "2 DA MOON" then go to a different section.
No wonder you guys are so broke, the facts are in front of you, & you still continue to think you're smarter hahahhahh
Internet forums are wonderful things aren't they? You can noisily fill the forum up with lies about being a millionaire trader and accuse others of being broke. While ironically this forum is chock full of actual millionaires, many enriched by the very financial instrument you try and bash so badly. You really are a sad little creature! |
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JayJuanGee ... Hey JJG... I'll sell you some coins for $1,000+
Hell, I'll give you a bargain and sell them to you for $1,000,000
Horrible pricing, I can easily do $300 cash each coin in NYC & $350 each coin out of the city. Many many people can beat my price, I am considered as "expensive", some people have coins in the hundreds easily It's always the poor schmucks with less than 1 BTC that are trying to sell for expensive prices, as you have proven now. lmfao Apparently he has 350 coins (lol) That's nothing, I've got 2 million coins, even more than Satoshi himself. Or don't I  I think it's safe to assume he has nowhere near the amount he's claiming, he's probably confused by btc vs bits. It's proven. Oh and he has made millions trading. Hmm. |
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Heard of Walter Mitty? Plonker. |
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I bought in:
- 2nd half of 2011
- Fall 2012
- 1st half of 2013
and
- This week.
And sure, we may go down from here. I'm not arrogant enough to assume I can time markets perfectly; I just try to be on the right side of risk-reward, and the above time periods in the bitcoin market fit that description in my opinion.
So basically you are still losing money & you are arrogant enough to keep buying... Like warren buffet said, you shouldn't keep trying to patch leaks on a boat that keeps leaking... Better off buying the dips in gold or something actually worth it The dates Melbustus mentioned are all in heavily in the green... I bought mid 2012, the first two months of 2013, and I've just started buying again last month. Posts like this from the senior posters are worth 10,000 posts from newbie fools like 'fewcoins'. |
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JayJuanGee ... Hey JJG... I'll sell you some coins for $1,000+
Hell, I'll give you a bargain and sell them to you for $1,000,000
Horrible pricing, I can easily do $300 cash each coin in NYC & $350 each coin out of the city. Many many people can beat my price, I am considered as "expensive", some people have coins in the hundreds easily It's always the poor schmucks with less than 1 BTC that are trying to sell for expensive prices, as you have proven now. lmfao Apparently he has 350 coins (lol) |
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If we assume that adoption drive prices, then a metric of adoption would be the price itself. This will tell you that adoption has not grown in the past year.
If instead, we assume that adoption doesn't drive prices then the discussion is irrelevant for future prices.
I believe that demand for use in payments, by itself, would not support 100 $/BTC, maybe not even 10 $/BTC. What keeps the price up is speculation: people buying BTC to hold for weeks or years, waiting for better prices. That locks up most of the existing 13 million BTC, and makes them scarce on the exchanges. Assuming that BitPay processes 1 million $/day, I would guess that the total traffic for e-payments now may be perhaps 5 million $/day. Let's say that bitcoins bought for that purpose stay out of the market for 5 days on the average, before being sold by the payment processors. Then, at any time, that use would lock up 25 million $ worth of bitcoins. If there was no speculation, and all 13 million BTC were on the exchanges, that demand would perhaps support a price of 2 $/BTC. Why do you keep droning on about pricing bitcoin based upon 'demand for use in payments'? Clearly this has never, nor will be for a long time, a decent measure of how to price btc. Bitcoin is held as a speculative store of value. That is why there are only a tiny float of coins being traded back and forth on the exchanges. Other than constantly insinuating that the price of bitcoin is too high, why do you insist on this line of pointless thinking? Do you question why amazon has a massively high price earnings multiple and go screaming from the hills that it is overpriced as a stock? The single interesting metric you have posted is the number of addresses containing > 0.1 btc. You can cite a reference before we take that one seriously, too. |
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With the immediate news of Microsoft accepting Bitcoin for digital goods on the Windows Phone and Windows Store marketplace it was amazing to see that China lead the pump. This was something I have not seen in a while and was fun to be a part of.
There is only one problem....
It went up about $17 dollars... If this was 2011/2012 we would of seen the price skyrocket Mt. Gox style. So - with that indicator. I knew China was going to dump before their work shift ended (4PM China time) and here we are back to the $350 level. Why is that? I think the reason has to do with people that entered the pump were shorting the whole time (sub 350) and re-entered the market. That action is all we got. At the end of the day - there is no new money coming into Bitcoin otherwise the price would be steadily climing this morning with the news. Its 10AM EST as of this post and price is moving sideways.
TLDR; There is no new money. Expect this to go down before or on the weekend.
Microsoft recently add one more way to accept USD from bitpay company, however many fake news about "it is accepting bitcoin" came out and some of us buy this troll, The bitcoin price is going to crash even harder after this "delay" caused by fake news same as PayPal made their announcement, you know what happened about the price crash Microsoft does not accept bitcoin Microsoft does not hold any bitcoins you pay to bitpay company Crash incoming! the flaw in your logic is that you think that any business or company who accepts bitcoin needs to hoard it and that if they do not hoard the coins then it is a bad thing. And the flaw in yours is assuming that events like microsoft allowing kids to buy xbox games with bitcoin is only going to result in selling bitcoins, entirely missing that increasing utility drives adoption. |
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<faintly plausible bearish crap>
Keep trying.. |
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I think polls like this are flawed. Every bitcoin fan thinks they would buy buy buy if the price gets to 100. And perhaps if it is manipulated in some fashion it could. But sentiment would be absolutely at rock bottom and most people would be too afraid to act. Now it is far more likely that we retest a low 3xx number, that is when most people will buy, and the reason why I think we will never get anywhere near 100  |
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The question is are you prepared for if it hits $800 in an hour?
When the price hits my alarms I will calmly log in to Circle and buy a large quantity of BTC (in either direction). Otherwise it is accumulation time! |
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I think the amusing thing is that OP expects anyone to believe he has 300 coins..
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I personally don't care about short term price volatility. I will pick up a handful of coins every month until we all know what will happen eventually occurs. If the price inexplicably crashes before we move higher I will buy a lot more coins (->cold storage) which for me is just rebalancing %'s in a portfolio.
I think in a few years this year will be viewed the same as the 2011 bubble high and bear market wanderings thereafter in 2012. Except this time the price is a lot higher and infrastructure, VC funding, utility and ease of obtaining the currency are massively higher than before. With the benefit of hindsight one can imagine it being as obvious a buy as google or amazon was a few years ago.
Intelligent people who understand the superior mathematical properties of bitcoin over conventional fiat are those who will continue to buy and store bitcoins speculatively. What is interesting is the next price surge and wave of adoption could come from an ETF and US investment funding, or it could come from the current demographics or even a younger cohort (say those born in the noughties who want to changetip or send money between each other or buy xbox or steam games)..
Exciting times to be accumulating bitcoin..
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With all this big bear flags... I'm sorry but I can't be bullish about bitcoin price in the short/mid term. It is probably going to retest lower levels again.
Right now there is more downside potential than upside, unless an ETF hits the market.
I disagree that it has more downside than upside potential. I see a drop of $100 from here as a small chance of happening but $100 rise could happen at any point. However if your constantly watching charts and are ready to make a move when the market does then you can easily limit risks on both scenarios. We just had something huge like Microsoft accepting bitcoin and all what happened is a $27 pump (Only $13 remaining at the moment). I don't think another $100 pump is easy at all.This is just showing us how weak bitcoin price is right now. Of course I will gladly go long if it starts rising with strength, but IMO that's really unlikely. The price was manipulated more than 100 dollars higher last month because a suspected 3bn hedge fund was rumoured to be using one of the exchanges to trade so your point is clearly wrong. Until a US exchange opens with decent depth this thin market volatility will continue. But ultimately demand will overrun even a few forex jokers with twenty thousand coins colluding the price up and down at will. |
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The price has been stuck between the denial and fear phase for too long. I'm still waiting for desperation and fear..
This, my buys are in the $310-$320 range. Usually before a big climb there is a crazy crash right before. And if I miss it...meh, that's all good too. Though we have been through so many different reasons why Bitcoin is going to fail and reasons why Bitcoin is going to the moon that I'm not sure what sort of news could do either. The 3 month chart suggests that we might already be in capitulation or even depression. It could be interpreted as a trend reversal going on since early October. But the $320 should be retested to confirm I could of course be high on hopium. News has less and less influence. The freaking Microsoft announcement did almost nothing. Zoom out. Relax. |
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