Money printing IS credit creation.
no, it isn't directly.. credit creation creates more debt money that gets cancelled out when debt paid, money printing is an absolute increase the money that is printed is for lending...... lending = debt debt=credit |
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Less than one million wallets (so less than one million users), and people think the price can't double again, let alone $10,000. Please... It's so far from being even close to widely adopted that really no one has any clue really what the price will do in the future. Only thing for certain is there is plenty of room for price growth, if bitcoin continues to be adopted and used as digital money.
It won't IMHO. I have been a naysayer for a long time though. When I got out I told my friends and family that it would blow into a huge bubble and then crash waaayyy down. Not to nothing but to something believable, like beanie babies and tulip bulbs. My brother in law basically says that it hasn't been blown as big as it is gonna get and that financial institutions are going to get in and give it a good pump, its possible but I dont see it happening. You're like the guy in the street proclaiming the end of the world. You're no longer just wrong. You're becoming a joke. Bitcoin price periodically goes through manias, but the four year log trend is remarkably clear. This is a technology with utility and it's being adopted at an exponential growth rate. This will continue (and the price will reflect that) until a superior technology is developed and deployed or until adoption approaches saturation level. The media are still pushing for ponzi scheme..... http://www.bloomberg.com/news/2014-01-30/bitcoin-ponzi-scheme-worry-sparks-estonia-central-bank-caution.htmlwe are far from the top and it aint gonna come back. |
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This should be interesting and worth watching.. personally I don't think it will go below 600usd
+1 but there will be no surprises. |
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How might bitcoins popularity grow (and altcoins) considering that the forex markets close on the weekends?
at BTCE you can trade the EURUSD over the weekends. that must be a first?
So if unexpected news was to affect a currency during the weekends, everyone on BTC-e would have an advantage.
This is a solution to volatile opening hours of the FX.... and a great way to separate yourself from the forex herd.
Is anybody already making money from this??
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will we ever know when a better coin comes out? the inventor will have to have a darn good case.....
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2586
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Economy / Speculation / Re: When will bitcoin reach 1,000, 2,000, 5,000, 10,000, 40,000, 50,000, 100,000
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on: February 01, 2014, 11:42:21 PM
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We saw this last year...  We saw and more this last year...  What do we see this year? $100K  have we ever seen more than a 10x bubble form? I dont think I can see more than 10K bitcoins this year..... |
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2587
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Economy / Speculation / Re: When will bitcoin reach 1,000, 2,000, 5,000, 10,000, 40,000, 50,000, 100,000
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on: February 01, 2014, 11:15:39 PM
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Come on, I want to get rich too... but 100k...? Not going to happen. Where is the money going to come from to support such a huge valuation? The days of enormous gains are behind us. Next rally might bring us to 2 or 3 grand, followed by maybe 5k by end of year. That's a bullish scenario. Really bullish. We might just end up oscillating around $800 for the whole year.
I hear you, but people used this argument when bitcoins were $100-200. "A thousand? Not for years, if ever. Where will the money come from? We'd need x amount every day for the price to stay stable." And here we are at $800 not even 6 months later. I love this stuff. there's tons of it all over the forum. but seriously, when we start talking trillions in market cap, then it begins to affect the entire world in rather large ways. from 0-15bln, thats still chump change. 500bln is possible, but not easy. 1trln is not probable but possible. |
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2588
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Economy / Speculation / Re: When will bitcoin reach 1,000, 2,000, 5,000, 10,000, 40,000, 50,000, 100,000
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on: February 01, 2014, 10:44:34 PM
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I could imagine Bitcoin having a market of about $25 billion which would be around $2000 each. But much more beyond that is hard to imagine. I can't imagine BTC permeating into the mainstream consciousness too much more this year; and I wouldn't know where another spike like with China would come from.
well, you know what they say..... it's a binary outcome. a market cap of 25bln will be useful to many market's. by then it will be very efficient for money transfer. firms will be saving a ton on international transfer fees. It will be an attractive investment to the fat cats. At this point local businesses will begin saving on fees and some may even be comfortable holding bitcoins. Word will spread among circles of the convenience, security and freedoms of dealing only in bitcoin. bitcoin will be used by tourists on holiday to third world countries, and the savvy locals will profit immensely. Soon after it will become a disadvantage if you do not accept bitcoin. easy software will be developed and gradually many will be driven to accept it and it will hence forth be a global currency. when Cyprus had a financial disaster people put their money into bitcoin. in the coming months/years the world could see a financial disaster of untold proportions. there will be panic and sovereign risk. in this case the only way bitcoin could go is up, simply because we are so close to the bottom. Still, harldly anyone holds bitcoin...... |
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I don't think at this early stage bitcoin is capable of slow incremental growth. I also think it's unrealistic to expect it to begin another bubble just a mere 2 months after the previous bubble. I think there will be another bubble but not for another 2-12 months from now
after the bubble before this one it spent quite a long time creeping along slowly. but yeah, it only need to creep along so much before the speculators come. that's the nature of exponential growth. |
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Great analysis. I really cannot wait to see institutional money coming in and see how it will all play out. Even Max Keiser is being somewhat conservative this year; on his twitter he feel BTC will reach 50bn market cap which means $3500-$4000/BTC. Good luck to us all.
" If the choice for the regulator is to permit money-laundering on the one hand, or permit innovation on the other, we are always going to choose squelching money laundering." --Benjamin M. Lawsky Dream on... US will eventually go the China path and ban financial institutions in dealing with bitcoin. it's really not that simple...... Bitcoin is like Napoleon, it will divide and conquer. Many great powers have fallen over history to unforeseen reasons, like rome. Bitcoin will bite the USA where it hurts. |
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hmm, well, he's right. i've been saying this for a long time. once the US government views bitcoin as a threat, they will ban it. of course, they can't shut down a decentralized network, but they will prohibit banks from processing bitcoin transactions, much like banks are prohibited from dealing with online poker tramsactions. it will be black friday again and likely unexpected when it happens. that's what they do. hopefully we have a couple years left at least until it happens.
I think one of the major points at the NY Finance Department hearings was that the USA cannot afford to stifle innovation. This is a major point of innovation in many sectors. furthermore, the FBI is about to auction BTC to legitimate investors. would it be wise to incriminate them? Besides, the USA could only delay the ultimate outcome of a decentralised network. |
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and if it becomes successful around the world - are you just gonna stand around and watch? incriminate your people?
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It's worse than that, you guys aren't calculating for hyperinflation, you have to bear in mind that all Bitcoin is really doing like Gold/Silver is honestly reflecting just how many dollars are being pumped into the system if you hold 10 BTCs and in theory the value rises to $10,000 then it will be like Zimbabwe where you exchange 1 Bitcoin for $10,000 dollars and then it turns out to cost $1,000,000 to buy what normally would be a cheap house. Have you seen the Japanese Yen? That's the kind of hyperinflation that I'm thinking of, the only good thing about this is it tells us what's going on in the markets for real and also it lets us still have a functioning economy no matter how badly governments fuck up their paper currencies this time round.
The real question is what will people think Bitcoin is worth after the initial frenzy and collapse happens.
yeah, what will it mean if governments stop printing money? USD will deflate. thats not good for bitcoin. possibly the rush out of the stock market will cause demand for bitcoins. but will the demand for bitcoins exceed the demand for USD? |
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I bought at $80 after the previous crash.
I see the same opportunity as I did then.
If I added to my position now the same capital it would increase my hodling by 10% lol.
but its a once in a life time opportunity......
what does one do?
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I see people are still completely pooping their pants and sell as soon as the price goes up just a few dollars. What is the current fear? Did i miss anything?
We are all scared of the Doge. wow such growth so mainstream much capital how stupid |
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2596
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Economy / Speculation / Re: When will bitcoin reach 1,000, 2,000, 5,000, 10,000, 40,000, 50,000, 100,000
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on: February 01, 2014, 05:15:42 AM
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Come on, I want to get rich too... but 100k...? Not going to happen. Where is the money going to come from to support such a huge valuation? The days of enormous gains are behind us. Next rally might bring us to 2 or 3 grand, followed by maybe 5k by end of year. That's a bullish scenario. Really bullish. We might just end up oscillating around $800 for the whole year.
bitcoin appeals to all markets. small market cap is 50billion. there will be no problem reaching 50 bln. it is likely to reach 500 bln. there is easily 500bln out there for bitcoin. there is 500 bln for mastercrd, visa and paypal. Bitcoin will represent many more markets. |
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Unfortunately I´m an late BTC adaptor (april 2013) and a member here since 2-3 months. I wonder, were this threads also like this 1-2 years ago? I mean, were people making threads with "will Bitcoin ever reach $10 or $100"?? I ask this because maybe we are awaiting too much grow from BTC at this point? I myself also cant imagine that 1BTC will be even worth $10.000.
Oh ya I have been bearish since 22 usd. and remain bearish BTC's valuation is totally unjustified its a tulip bubble. Please tell us when you turn bullish! The price has doubled more than 16 times, it can quite easily double a few more times. There will be so much money flowing from the stock market soon. dumb money and smart money. it will drive BTC to the moon. I was never involved for capital gain but social change when I realized that wasnt possible I abandoned it. Doubling isnt gonna happen. If you are getting in now you are a late comer. I got in at 12 usd per BTC and have bought and sold over 500 BTC. my neighbour hasnt even heard of bitcoin. none of my friends own any bitcoin. people are still trying to get their heads around a number of fallacies regarding scarcity, intrinsic value and security. we are early to the party! wall street hasnt opened doors yet. why cant it double again? I bet you said that 16 doubles ago. |
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2598
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Economy / Speculation / Re: When will bitcoin reach 1,000, 2,000, 5,000, 10,000, 40,000, 50,000, 100,000
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on: February 01, 2014, 04:58:01 AM
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When do you guys think bitcoin will reach 1-100,000 US dollars
People say buy march or april it will go up
What do you guys think.
I think it will go up from previous trends
One look at the log chart will answer all those questions. Just don't expect the rise to be parabolic past a few hundred thousand dollars. The s-curve will bend the other way before a bitcoin is worth a million dollars. At this point though, we're still a long way from the vertical. How long do you think? It probably won't go vertical until it passes $10k and that's probably at least a year away and the vertical won't last much past $0.5M. Long term (years away) it may surpass $1M. JMHO If it is indeed an exponential phenomena, the longer it takes to hit the s curve the further it will go I guess. those will be some exciting days. |
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Bulls are wrong. Bears are wrong. It's going to trade at $800 for the next month.
How and why? there is much tension. it only needs to break..... |
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2600
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Economy / Speculation / Re: When will bitcoin reach 1,000, 2,000, 5,000, 10,000, 40,000, 50,000, 100,000
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on: February 01, 2014, 04:39:36 AM
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When do you guys think bitcoin will reach 1-100,000 US dollars
People say buy march or april it will go up
What do you guys think.
I think it will go up from previous trends
One look at the log chart will answer all those questions. Just don't expect the rise to be parabolic past a few hundred thousand dollars. The s-curve will bend the other way before a bitcoin is worth a million dollars. At this point though, we're still a long way from the vertical. How long do you think? |
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