Probably the only thing that will keep bitcoin alive is the illegal side of things  That "illegal side" is kind of what got BTC going, but that"illegal side" does NOT seem to be what is currently sustaining BTC prices in the upper $500s. Do you have statistics to show us? or a link(s)? Its just my opinion based on my observations in general, not something I can reference with statistics or a link.  Well, your current opinion seems to be based on last year's news... and you need to get updated in the information that apparently is causing you to come to those seemingly negative propagandistic conclusions. |
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But prices are too high right now, if we can get back to the $300s at least, all my friends at school who said "bitcoin is too expensive" will think about buying again. Right now we're still sticking around $580 because of all the holders who refuse to accept a loss, but there's not much buying pressure to support it. It's simply unsustainable, imho.
Then your friends at school are complete idiots, because they can buy any amount of bitcoin they can afford. They can buy $580, $58, $5.80, hell they can buy $0.58 or $0.001 cents worth. It's all the same, it's all bitcoin. Owning "whole coins" is illusory, it doesn't exist, it doesn't even matter. Even the idea of a single "bitcoin" is simply a meaningless abstraction. A bitcoin is simply an abstract unit of measure, with relative value that changes over time. Like the ounce is in the gold and silver world. No one goes around saying "Hey, I own X number WHOLE ounces of gold!!" No, they say "I own $6000 worth of gold." I think they realize that, but they told me it's not fair that earlier investors could by hundreds of bitcoins for pennies on the dollar and they need to pay $580 to buy just one. So for that reason, they're going to wait until prices come back down again. And then my math teacher said that bitcoin in a ponzi scheme, and that "true value" is only $10 per coin, because he read about it on the Internet. That's just how people think, I guess. YEAH, right. I shouldn't even be quoting your trolling superficial stupid-ass bullshit. |
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Feels like a bear trap. I'm still in fiat though. I need more convincing.
Good luck with your timing and your hesitancy.... and figuring out "when to get on the train." you seem like the kind of person who would likely get left at the train station and one who may be afraid of his/her own shaddow... sorry about that.  |
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Bring on the multi-year bear market. Let the true bit-leavers accumulate all the coins from the weak hands!
No thanks. And please quit with the weak hands myth. I don't get it. Last winter there were tons of people on here saying that if prices fell to $100 or $200 or whatever they would take loans out on their home equity, cash out their 401k, etc, to buy as many as possible. Don't we still want this? Of course NOT... why would we want BTC prices to be suppressed to such a low level.. that is ridiculous to even suggest it.. b/c such a low price would demonstrate an extreme low confidence in BTC value... and as we know, we got into the mid-$300s for a a day or so, earlier this year.. for our post ATH low... and absent some extreme news, it seems fairly unlikely that BTC prices are going to see the $400s again... But prices are too high right now, if we can get back to the $300s at least, all my friends at school who said "bitcoin is too expensive" will think about buying again. Right now we're still sticking around $580 because of all the holders who refuse to accept a loss, but there's not much buying pressure to support it. It's simply unsustainable, imho. Regarding your first part to incentivize your friends to buy at a lower price... Fuck your friends... if they are NOT buying now, then they are just looking for lame excuses... and fail to recognize that they may be left at the rocket launch pad holding their travel bags.... b/c they failed to hop on. On the other hand, your fucking friends will be able to catch the next rocket.. it is just going to cost a little more.. maybe in the $1800 territory.. after the price crashes down from the $3-$5k territory. Regarding your point about too expensive now or unsustainable, you seem to be living in a fantasy world.. of course it is sustainable at this price.. Do U even understand the exponential room for growth for bitcoin? Do you believe that Whats App should be perceived as more valuable than the BTC network... HELLO>>... snap back into reality and convince some of your school "friends" to get off their little fat asses... since they may be eating too much sugar and drinking too many colas too, with their holding onto fiat... |
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ZOMG Bitcoin fell $10! What happened, did China ban Bitcoin!?  no, they are just dumping it. rpietila mentioned 470 few days ago. masterluc noticed a bearish divergence. where are you guys placing your bids? high 400? Rpietila, just like every other person here, has no clue where the price will go. I DO ! I DO ! Bitcoin is going to go up a little bit, down a little bit , sideways a little bit, down a little bit, up a LOT down a bit, down a fair bit, up a little bit, down a bit , down a bit, sideways for a bit, then UP A LOT, then UP A LOT, then down a little bit, down a little bit, down a tiny bit, up a tiny bit,down a little bit , sideways a little bit, down a little bit, up a LOT down a bit, down a fair bit, up a little bit, down a bit , down a bit, sideways for a bit, then UP A LOT, then UP A LOT, then down a little bit, down a little bit, down a tiny bit, up a tiny bit, down a tiny bit, up a tiny bit, sideways a tiny bit, down a tiny bit, up a tiny bit,down a little bit , sideways a little bit, down a little bit, up a LOT down a bit, down a fair bit, up a little bit, down a bit , down a bit, sideways for a bit, then UP A LOT, then UP A LOT, then down a little bit, down a little bit, down a tiny bit, up a tiny bit, down a tiny bit, up a tiny bit, sideways a tiny bit, sideways a tiny bit, down a little bit , sideways a little bit, down a little bit, up a LOT down a bit, down a fair bit, up a little bit, down a bit , down a bit, sideways for a bit, then UP A LOT, then UP A LOT, then down a little bit, down a little bit, down a tiny bit, up a tiny bit, down a tiny bit, up a tiny bit, sideways a tiny bit, then UP A SHIT LOAD , then down a little bit , sideways a little bit, down a little bit, up a LOT down a bit, down a fair bit, up a little bit, down a bit , down a bit, sideways for a bit, then UP A LOT, then UP A LOT, then down a little bit, down a little bit, down a tiny bit, up a tiny bit,down a little bit , sideways a little bit, down a little bit, up a LOT down a bit, down a fair bit, up a little bit, down a bit , down a bit, sideways for a bit, then UP A LOT, then UP A LOT, then down a little bit, down a little bit, down a tiny bit, up a tiny bit, down a tiny bit, up a tiny bit, sideways a tiny bit, down a tiny bit, up a tiny bit,down a little bit , sideways a little bit, down a little bit, up a LOT down a bit, down a fair bit, up a little bit, down a bit , down a bit, sideways for a bit, then UP A LOT, then UP A LOT, then down a little bit, down a little bit, down a tiny bit, up a tiny bit, down a tiny bit, up a tiny bit, sideways a tiny bit, sideways a tiny bit, down a little bit , sideways a little bit, down a little bit, up a LOT down a bit, down a fair bit, up a little bit, down a bit , down a bit, sideways for a bit, then UP A LOT, then UP A LOT, then down a little bit, down a little bit, down a tiny bit, up a tiny bit, down a tiny bit, up a tiny bit, sideways a tiny bit, then UP A SHIT LOAD..continue until it stops. +1..... That's a great post.... .even though you seem to be repeating yourself.. (meaning that you had posted some semblance of that before....... he hehehe)...   |
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You've had 5 years for cheap coins. Wasn't that enough?
Not for Johnny-come-lately noobs. They remind me of the people who wanted the price to drop to pennies back in 2012 because they thought they'd missed the boat. Sorry. Those days are long gone. Get over it people and let's get the ball rolling again. Of course when the price is $10k, other noobs will be pining for a return to the $600 prices they read about. +1 Exactamente!!!!! This is just a dynamic with what noobs are going to want... HOwever, as you indicated, they can want it all that they like and wish and pray for it.. That wishing and praying and attempting to manipulate is NOT going to change the reality that the prices can only come down so far, and they better get on the rocket or risk missing it... b/c once this baby gets going, it moves quickly.. and does NOT wait for the whining opportunistic noobs.. who failed to act when they had a chance.... |
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I was hoping it to go lil low  560 and I'm ready with lil buy order now I guess its recovering back to where it is from last couple of weeks. So you're gonna risk losing out and probably panic buying at 600 because you want to save 20 bucks per coin? There are buyers not only investing their allowance of 20,00$ to accumulate 1 Bitcoin. For adult investors, investing +10,000$ it is a difference. But you can't grasp it... Yeah... we should NOT assume that posters here are adults. GROW UP, DUMP3ER!!!!!!!! Oh, you can't grown any faster than time allows... sorry about that. |
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Come on, again? Every time that i need to sell bitcoins the price goes down hard! Why? Im a bad luck guy.
B/c you need to plan ahead... something like a month should be good.. (but you need to find what can work for you in order to cause less stress... maybe 2 weeks or maybe 6 weeks would work better for your particular circumstances). You should NOT be so leveraged into any asset class as to be forced into buying or selling... With this post, you seem to recognize that you need to make an adjustment to your cushion... |
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Bring on the multi-year bear market. Let the true bit-leavers accumulate all the coins from the weak hands!
No thanks. And please quit with the weak hands myth. I don't get it. Last winter there were tons of people on here saying that if prices fell to $100 or $200 or whatever they would take loans out on their home equity, cash out their 401k, etc, to buy as many as possible. Don't we still want this? Of course NOT... why would we want BTC prices to be suppressed to such a low level.. that is ridiculous to even suggest it.. b/c such a low price would demonstrate an extreme low confidence in BTC value... and as we know, we got into the mid-$300s for a a day or so, earlier this year.. for our post ATH low... and absent some extreme news, it seems fairly unlikely that BTC prices are going to see the $400s again... |
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to be honest , I am not sure what to think, the price still doesn't seem right to me and the trend is just broken, I haven't been confused like this in a long time, I remember about this time a year ago I went all in and I can still remember the confidence I had about my decision... I just don't know why I don't have that anymore !!!
You are describing yourself as NOT having the confidence b/c you are trying to frame some credible story in order to downwardly manipulate the price... but instead you are pathetic.... There are just as many (and more) reasons to be optimistic about BTC this year as compared with last year.. so stop being so selectively blind by your own book and by your having had put a large sum of your BTC into LTC... sorry about your losses, but what a stupid gamble. In other words, you probably have good reason to be confused... b/c you seem to be a dumb ass.   |
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Price tanking hard again, what's up here? Any news triggering that sell-off or is it just another random dump or some miners that can't hold up their selling any longer? Not an especially beautiful sight I thought we already established that miners do NOT dump on the market.. these miners generally sell off market.. the dumpers on the exchanges are generally the manipulators.. or attempted downward price manipulators... |
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I actually hope that we stay flat like this for several more years, because each week my dad gives me $10 allowance and I like to put half of that toward bitcoin. In 4 more years, I can have 2 full bitcoin!
Hmm, that's a great model, isn't it? One can aford losing all, and can be always in a position buying when price falls. I failed to adapt that model. Pathetically, I bot too heavy during the peak. My remaining capital does not compensate if market falls further. What shall I do? I've got to hodl, and buy regularly to lower my average, with my affordable allowance. Any one give me some suggestions? Another troll like post... but i will entertain it... Yes, a rookie mistake to buy too much when the prices is high and to blow all your wadd in exuberance... yet with bitcoin, you will get your money back, sooner or later, as long as you do NOT attempt to trade... b/c you likely do not know what the fuck you are doing.. like most traders.. and attempt to continue to buy in ... in order to keep bringing down your average buy in price.... in the end (maybe a day or maybe 2 years) the odds are pretty great that BTC prices are going to go to a new ATH.. and then you can either cash out b/c you do NOT know what you are doing.. or just cash out some or just continue to stay in BTC... probably it is good for you to come to your own judgements about this and to continue to monitor the extent to which you want to get out or to redistribute your total investment portfolio |
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I actually hope that we stay flat like this for several more years, because each week my dad gives me $10 allowance and I like to put half of that toward bitcoin. In 4 more years, I can have 2 full bitcoin!
yes... made up and logically inconsistent facts of a troll... |
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Surprised by how well the Metcalfe's law price assumption works, for example when comparing the previous "plateau" phase (~100 USD) and the current one.
Looking at number of transactions (excluding 100 popular addresses), comparing the August 2013 average (25k) to the August 2013 average (60k), we get: ((60/25)^2)*100 = 576 USD.
Close enough, no?
Wow, really? So we'd need an increase in transactions now, right? (Aren't we already seeing one for a few weeks???) But what about the prediction that according to the transactions we should be at $2k already? I guess I've seen that around here somewhere... You should keep two things separate: how well the data is modeled, and how well the model predicts future data. For example, you'll note that the local peaks of the transactions (early 2013, late 2013) come well after the peak in price. And how to extrapolate from the transaction graph into the future is an entirely different question, imo. I picked the "plateau" phases on purpose. In my opinion, the price of around $100 last year was an important milestone. Took the market a while to understand that we won't go below it again for any substantial amount of time, but also that it takes some time to go above it. Feels similar now, with 500s instead of low 100s. (Subjective argumentation above, I know... Dismiss it freely ) Nah, I think it's a nice assumption! I like to see how people feel about current prices and whether they think that they're sustainable or we're even about to go higher. Then the whole Mt. Gox willy bot thing needs to be addressed. We haven't seen a bubble without willy yet, and some people claim we need that bot. But who knows... I'm not sure what to believe. But remain optimistic! Your rendition of the facts here seem questionable, namely: "We haven't seen a bubble without willy yet." That framing of the facts helps to support the fallacious argument that "we need that bot for a bubble." Seems like a fairly significant distraction in order to attempt to further entice peeps (weak hands) out of their coins. The willy bot may have facilitated that last bubble in terms of timing and magnitude... but even if so that facilitation does NOT mean that willy bot caused the bubble... accordingly, another bubble will be coming, with or without a willy-like bot b/c in the end, various downward price manipulators or only going to be able to keep prices down for so long... maybe they might be able to keep it down for another year.. but i really doubt it and probably they would be lucky to keep prices down more than another 4 months |
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This is where institutional investors come in. Bitcoin is making fiat look so volatile recently. I am glad to have my money in a safe currency Naaah, those are just some nice words flying around the forums for a week or two recently... Bitcoin is still the most volatile currency we currently have (apart from altcoins, maybe), and it still has a rather shallow market cap or order books. But yeah, we need institutional money or money from big risky investors. I think Bitcoin may not even be big enough for that I agree with the overall sentiment of your post.. but the Bold statement.... seems to be out of place, somewhat? I doubt that you really thought through that bold statement or really made a comparison between ALL currencies in order to suggest that there is some kind of ongoing negativity when it comes to BTC - b/c overall you seem to be suggesting that increasing BTC's market cap could be a partial solution to some of its volatility. I am NO currency expert, but I know that there are a lot of small country currencies that suffer incredible volatility and frequently that volatility of those small country currencies is to the downside.... bitcoin on the other hand has had a volatility record that tends to be to the upside.. at least if we take a longer perspective of BTC. |
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Probably the only thing that will keep bitcoin alive is the illegal side of things That "illegal side" is kind of what got BTC going, but that"illegal side" does NOT seem to be what is currently sustaining BTC prices in the upper $500s. Do you have statistics to show us? or a link(s)? |
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Ive mentioned it a couple of times on the forum already today, but I have it through very good sources that the majority of large miner coins that are being sold are being sold off exchange for a point or two premium by hedge funds.
A large miner recently confirmed that he had had several calls put into him by hedge funds looking to buy every coin he had. If they are tracking him down, their tracking others down as well. I think this is one of the reason selling has practically dried up relative to what it used to be. Big money is desperate not to have the price run up.
I have been dwelling on this analysis from Windic and of course it makes sense. If the miners go to market with the current volume, then they won't get the price they might from off exchange sales. But with these sellers and the corresponding buyers both off-market, then volume dries up. It also means the price is far more easy to manipulate by dumping a few every time it looks like creeping up and buying them back once the rise has been stopped. This will only change if off-market demand exceeds supply. But at first miners will just have more bidders and may just auction at higher rates, but still off-market. The only way this situation changes will be if the large off-market buyers see the premium asked by miners as excessive and break ranks. And these large buyers are not so stupid. So right now we stay in this equilibrium - large miners will not change it, they get guaranteed sales at market or slightly over and predictable, optimised cashflow. Miners not selling off-market are supplying about what the market wants right now, hence (relative) stability. So... what needs to change? Probably the point where it becomes inevitable that it WILL change. At this point miners may hold and ask a premium - large buyers see the cosy arrangement is not going to last and then they start to break ranks and just land grab on-market. So breakouts are being stamped on - it is inevitable it MUST be what is happening. Once it looks like this amazing accumulation 'party' is over, the shit will hit the fan. The longer it lasts the faster it will turn. And events, of course 'events' can be the calalyst for someone to blink. And so it will begin - we will have our choo choos again. I am all fine and dandy with that analysis... yet it seems that the time-line and stability of this arrangement remains unclear. This arrangement could continue for days or maybe even up to 4-6 months. .. let's say 4-6 months of about $2million per day in BTC being bought off line (3,600 x $600) That is only about $60million per month, and it remains unclear for how many months that will be a sufficient supply for accumulators. |
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I'm of the same opinion as the OP. It's like bitcoin is approaching a new level of growth that has yet to be comprehended IMO. I think people need to be extra careful with their coins because the scammers are on full alert I have no doubt.
yeah... agreed... as BTC increases in value.. which is likely to continue... there will be more and more methods and means to separate peeps from their coins. |
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Wishful thinking, first post or not, great start or not, if you don't like my posts, don't respond to them. I say I said BTC is doomed, a piece of fucking shit. What you dreamed you taught me a lesson, LOL I did not say that I did NOT like your first post, and even if I did NOT like your first post, I can still respond to it. So, WTVER. YOU can come and troll if you like and NOT add value if you like and people may or may NOT respond to your posts; however, those present and/or future posts turn out to be. So far, out of the two posts of yours that I have read, they do NOT seem to add much value to our discussion; however, maybe other people or trolls, may appreciate your apparently NONSUBSTANTIVE and emotionally laden input??? |
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