You may need to see the doctor for your inability to stay on topic, old cooter.... because your points make little to no sense in the context of this thread or in response to my previous points. 

Seems that at least we had been attempting to discuss matters related to bitcoin's past, present or future price movements, but you started deviating into some other non-relevant topic(s).   

By the way, the use case for bitcoin is whatever the fuck people figure out regarding how they want to use bitcoin.. that is part of the  point of permissionless decentralized immutability.... they don't have to ask and make sure that cooters like you or anyone else agrees, as long as they can get it to work for themselves and/or the people they deal with....  Thank you Satoshi... 

>>>>>>since it is lower than current cost ($~950) fully expect it to happen but not sure how soon<<<<<<


What do you mean by "current costs?"   Are you talking about your own current costs or some other way of coming to $950 for "current costs?"

Even at the time of the rage quit, likely a good 80-90% of the folks  in these threads who are quasi-educated about bitcoin recognized the Hearn statements to be nearly complete nonsense and attempts at causing a negative impact.

Nonetheless, we couldn't really affect the market reaction, which was also coupled with timing that helped to exacerbate the negative affect on prices. 

And, yeah, thereafter, it took a couple of months (probably until late March or early April before it began to kind of sink in that the rage quit and the hype over classic was not substantial and largely a ploy. 

Now, it is beginning to look as if the realization over such nonsense is going to go down in history as a kind of turning point for our next bubble - to the extent that we remember these playing out of events 10 years later?

I wonder if I should even respond to your nonsense.....

Yes, it's called fundamentals if you even considered facts beyond mere superficial quibblings around the word itself.  Fundamentals for bitcoin includes permissionless immutable decentralization that has been built upon quite extensively, which is a set of fundamentals that no other coin can meaningfully claim.  Yes, there are some coins that attempt some forms of decentralization and attempt to make meaningful improvements to bitcoin (such as monero and dash), and many claim decentralization in a kind of in-name only way, such as Ethereum, but many, including Ethereum, still do not have a decentralized proof of work infrastructure that secures a public ledger and presets value in such a manner that has been extensively time tested and attacked (like bitcoin has).

Your inability to call bitcoin by it's proper name, here, also goes to show that you are not even attempting to consider actual technical or use case facts.. because your goals appears to be denigrate, distort and make superficial and self-selective assertions.




What is bullshit, is you.  There may be a lot of folks who use bitcoin for legally questionable activities, yet you defy adult logic with your attempt to suggest that merely because there is quite a bit of questionably legal or even illegal activities within bitcoin, that the totality bitcoin has no legal purpose.



I doubt that we have enough information regarding this point, but you could be correct that bitcoin companies are not making money.  I personally would imagine that several of the exchanges have a lot of potential to make decent money.. but I don't really claim to know particulars, except for an understanding that frequently early venture capitalists will have difficulties monetizing within new industries.  That is not unique to bitcoin, and remains a so fucking what, because there are still companies investing into the space, and the space is still growing, so there remains decent potential to figure out various profitable business models within the bitcoin space.





You sound like a fucking old disgruntled and out of touch person-bot, here with your non-specifics... it's just "staggering", "staggering."    And, whatever, even if your assertion regarding "staggering" has some accuracy, bitcoin should not be condemned as a whole because of the fact that a large number of companies have run off with funds that were entrusted to them and easily able to transport without detection.  I doubt that you have any studies that would make any kind of statistically significant comparison to establish that bitcoin is worse than other industries in which large sums of money had been given to company owners.

In other words, you are just talking out of your ass with what you had read in your anti-bitcoin shill playing book.





Bitcoin is much more diverse than China..... why don't you provide some support for your xenophobic claims.



likely not associated with any kind of meaningful commercial use, because it remains too much of a newbie and lacks liquidation avenues (even though some ETH liquidation avenues are currently growing, they are no where near bitcoin's liquidation abilities at this time).






who gives a shit about.. your attempt to distort a backstory with selective emphasis on negative aspects...




Yeah, you can look at one day here and there, and so fucking what?  The lack of establishment in ETH is going to make that downside quite hurtful when it does take place.  Bitcoin has already gone through several of those early day stages of extensive negative price performance.

Another problem with ETH is that after some of the hype wears off, a large number of folks are probably going to come to realize that there really wasn't much of any there, there, in spite of a lot of the pie in the sky hype regarding ETH and DAO etc...

Yeah, of course, there is a bit of there, there, but it is no where near the level of fantastical hype.





You seem to be wrongly implying that I am making some kind of complement?  Part of my point is "buyer beware."  Sure it is possible that ETH could experience another 2x, or 5x or even 10x, but even if it does experience these kinds of additional pumps, there still seems to remain considerable issues regarding what's behind the curtain and can it actually deliver without considerable downfallings... I am already amazingly surprised that it was able to be pumped beyond $5, so I don't really claim to know or understand what some of the finanancial forces behind the pump and whether they may be losing money to sustain such an ETH pump and until what point they will continue to engage in such pumping.  I know banks and even governments such as the usa government has an enormous budget to be able to pump such a stupid ass deceptive concept such as ETH, but it does not mean that I am going to invest in such ridiculousness or even recommend such, even though people could profit from such seemingly nonsensical and foundation lacking speculation.

You are just on and on about Ethereum, and it seems that you don't even believe the bullcrap that you are spouting.

Who the fuck knows about short term price directions of ETH?  I'm sure they can continue to pump Ethereum for a while, but there is just a lack of fundamentals - at least in respect to the decentralized aspect of it, and at some point it is going to have to come cascading down. 

Yeah, they can keep pumping it, but when there is a lack of some of the fundamentals, then sooner or later people are going to recognize the lack of there, there. 

That's a pretty decent article, Fakhoury.


One thing that I find interesting about the 4th point is that the assertion is that the price went up because there was a lack of liquidity on exchanges, so a low number of buyers were able to push the price up.


That's a bunch of bullshit as an explanation, even though it is technically true; however, the actual practice is that bitcoin's are much easier to move than fiat.  Accordingly, if people wanted to move their bitcoins to the exchanges to sell them for a "higher" price, then of course they could easily accomplish such in an hour. 

The fact of the matter seems to be that either bears are running out of coins, and/or regular folks are not wanting to sell at these prices when they see the prices continuing to go up.

Anyhow, it is a bit of a laughable and misleading explanation, even though it does give some insight regarding what happened over this past weekend.. and which seems likely to continue... at least at this point, unless we start to see an increasing number of folks wanting to sell coins (either bearwhales or regular folks), yet it seems that there continues to be upward price pressures, which could change at any moment, but for now, upwards is still looking good.

Actually, I can relate a little bit to your desire for rest.  Last night was the worst for me because I was awoken twice by my bitcoin alarm, and I tried to just take intermediate and quick measures in response to the upwards price movement (first to $706 and second to $720), which were kind of half-assed measures and sleepy.

Maybe some day, when we are rolling more in profits, we will be able to sit back and say, "I remember when bitcoin was very volatile, and I was struggling to accumulate and to get my BTC holdings in the black.. ... blah blah blah.  Those were the days."      

It is interesting to see the value of my portfolio change so quickly in recent weeks, when it had been stagnant for an extended period.. well at least moving negative a lot prior to August 2015. 

In September 2015, I was nearly 60% in the red.  Then in late May 2016, just a few weeks ago, I was floating around the break even point, and now my portfolio is a bit over 50% in the black.

Honey badger doesn't care....


     

Desperate bears and shills are looking for any opportunity that they can find to get folks to sell on the way down and to create more down.  good luck with that, we remain in a very good place with a decent amount of UP potential.

What is the reason that you want to wait until the exact top? 

If you are nervous, shed a bit.  You don't have to go 100% one way or another.. just shed 10% or 50% or whatever other amount may be comfortable for your situation.

You are crazy if you believe some kind of pie in the sky utopia for bitcoin...

Of course, as market cap increases, the extremities of the highs and lows in the volatility are going to be less... and less

But bitcoin remains a bit of a baby in terms of market cap..   In the upper $600s bitcoin is under $11billion market cap.   In this respect, Bitcoin prices are very likely to continue to overshoot like it has done in the passed, so even though you may expect it to stop at $2,500, it will go to some amount that is likely overvalued in terms of support for that price, and then it will come crashing down.. probably even further than it should.. but we will again suffer with valleys and under appreciation of the asset, and there may even be a few scandals here and there.. stealing and FUCD spreading and possibly even some actual technical glitches... including potential governmental complications, too.

I certainly don't know any kind of exact future for bitcoin, but I do understand that you cannot wish away volatility, and the non-volatile scenario you describe likely has a less than 1% chance of occurring, that is if we reach those price levels, which is another if.

Well, the bull market started in August 2015, but probably we did not know it until about December after we had some corrective attempts... then such bull market was stalled by various FUCD spreading attempts.

It's not clear that it is going to take until September to experience an upsurge to $2500 or higher.

We have to see how this plays out in the $600 to $700 territory.

Actually, when we broke through $500, I thought that we would get to mid-$600s more quickly, but it kind of took its time
and then kind of only got a bit out of control over the past weekend from $580 to $725.  O.k... this price range could be reigned in, but if we get well into the $800s on this run, then it could well transform into an exponential growth to $3k to $5k within the 1 to 4 weeks... or some other variant that is much sooner than September.

I doubt that anyone really knows for sure, even some of the big-ass whales, and accordingly, we have to really see how this plays out, and whether we are going to have a price battle in the $600s and $700s or if there remain fewer sellers than buys, which will cause BBBBBAAAAAMMM!!!   

The logic above is nearly total nonsense.


The current price movement is not merely in respect to havening, but a variety of factors including bitcoin's development and clearing up of various FUCD spreading matters in the community with the realization that much of the FUCD spreading was nonsense.  Furthermore Bitcoin's price had been successfully repressed for nearly a year, so there was a need to return prices upwards, and this is the return of those prices.

Regarding the havening, you are suggesting that havening is a bearish event with some kind of implied logic that miners are going to have less incentive to mine, and this kind of logic is frequently passed around loudly and forcefully, as if the  more you repeat a lie it will become true.... In fact the havening is bullish, and it plays out over time rather than being a pump event, as you are stupidly asserting in your post.

I resemble that statement!!!!!!!!!!!


 

How can you be "in the hole" ?

 Did you sell low and then buy high?

That's a good one..  rightly opposite of Wyllie coyote

Exactly:   They were saying, "who's gonna pay $10 for internet play money?"  

By now, we know better.        

Quoted for posterity...



Never say never.

I'm not a technical person, so in some ways I rely upon the technical assertions of other people, and their various descriptions regarding bitcoin's security.

Accordingly, I am mostly referring to the hashing power, and the decentralized power of all of the computers that are securing bitcoin.  Also, my understanding is that there have been various unsuccessful attacks at the bitcoin's blockchain over the years, and none have been successful and additional security measures have been taken, too.

 So, in essence, I am relying on the technical claims that bitcoin is way too secure for its present value and the logical inferences that bitcoin computing infrastructure could fairly easily support a 30x or more increase in the secured value, and we could still rest assured that our coins would be safe.

We cannot really use Huobi or any of the other chinese exchanges (such as O.k. coin or BTCChina) as indicators regarding what is really going on, no?   I have my issues with Bitfinex too, but they seem to have been a bit more moderate in recent times, yet they also seem to be inclined towards exaggerated market performance, possibly due to some of the leveraged tradings (hopefully they are not employing fractional reserves, but you never know about that with any of these exchanges).