Highly doubt this would happen, sorry to say but your prediction is WELL OFF!
How can you know the future until it has happened? Don't be silly. Hear hear sgbett on writing a bullish post for a change. To a newbie or lurker happening upon the forum by chance they would probably think bitcoin 'the project' is dead and buried. That the price is the only measure of bitcoin's success and it is 'game over'. It is doom and gloom because in recent months the price hasnt gone up. No mention of the fact that the price is up 4x from the previous year! When the price turns back upwards and the pent up demand from sellers and newbies and institutions alike drives the next mania, posters like exocytosis and xiaoxiao will have missed out again. That is if they are not wiped out playing with leverage in a volatile market. Amazing how difficult some people find it to simply invest a % of your wealth in something which has huge potential speculative gains and hold on to it. |
|
|
|
I'll buy more if it goes lower and I really hope it does,
Yeah, let's hope so. That way even more sell pressure will be created, and even more people will stay away from Bitcoin. We know one thing. You cannot create any sell pressure yourself. |
|
|
|
Checking back in and despite the salivating bears and leveraged traders we have gone nowhere. Difficult to exert a market effect if you are already short or have sold eh guys? I will continue to buy daily until we rise above 400 or my fiat is dwindled. Yep the price could be pushed down another 50 or 100 dollars for a brief moment but ultimately if miners are selling coins to pay bills it is not in their interest to wreck the technicals and prolong the bear market a second longer than necessary. In six months or a year someone will post a thread from this forum from around now and everyone will be saying I wish I'd had the chance to buy in..what was everyone thinking?  |
|
|
|
Some chinese billionare use bitcoin to convert their yuan to usd without any limit, so btc price could go under the mining cost ( + 10-20 % ) in short term ( ask yourself how many billionare live in china and how many of them want to convert their yuan to usd and how many of them enough to keep the price down by dumping btc on usd exchanges) (+ otc buying and exchange selling)
Where is the buying on Chinese exchanges to support this theory? |
|
|
|
I build senior housing complexes, they range from 7 to 40 million, obviously I have been fortunate in other aspects and it's not all bad. Here is my true unqualified look at what a pro trader would look at, obviously some here may not look at a weekly chart, but depending if look at a linear or non linear chart we are in a major downtrend chanel, we are half way to this last leg where if you draw lines it will lead you to upper 200 range, however that does not mean we will go that far, it might just as well stop here and we bounce to upper trend line of this downtrend which is mid 5xx. That's my dollar!
You are trying to catch a falling knife. Look at the one-day chart. See if you can't get out at a face saving price on volatility. Don't ruin your life. You know what they say about the worth of advice from an unknown internet poster! |
|
|
|
A slight bit of technical relief in the past hour, but we have a falling knife on our hands, here. I am saying nothing, here, about Bitcoin's long-term value. I am saying that this market event is going to pick up, again. There was a small reprieve on the news, but, that failed to hold the market up. Also, the buy back volume is complete dog s---. Don't try to catch a falling knife.
Weren't you caught wrong footed by the last move? Predicting short term market movements is a mugs game.. |
|
|
|
Lot of wishful thinking from bears on here today given the price has 'dipped' all of nothing. Careful with your shorts boys. Is at least one of you going to be honest and admit you were either stopped out last week in the sudden run up or took a margin call? Yeah, incredible bull run is happening, market is rock solid. Even I was on the way to think that some bears are getting equal delusional like bulltards, but you are topping always all of the dudes. Worse than a troll (like me). Where did i mention a bull run happening? The price is the price. But it is obvious the momentum has left the selling. Ultimately very low prices benefit noone except leveraged shorters. |
|
|
|
I will be interesting to see how this situation will play out.
I don't think BTC or the idea of a decentralized currency is a bubble in itself, but its price certainly was (is).
Important questions we need to ask ourselves:
If BTC dies, will all decentralized cryptocurrencies die too?
To be honest if ApplePay starts to become utilized by the masses and BTC and all cryptocurrencies will be forgotten (and with them all the advantages that cryptos have over traditional means of payments), well, then we will know there's no hope for humanity.
You are asking big questions about the long term outcome of bitcoin based upon very short term market movements, fluctuations really. Far too early to tell how the project will play out. To quote batman from the lego movie, "this is not how batman dies". The price will turn up. All real selling pressure has left the market, we are just drifting and range trading. When the price fails to keep making major falls and the market turns like it did on a sixpence last week then leveraged shorts are going to be burned badly. Not that they will ever admit it |
|
|
|
Lot of wishful thinking from bears on here today given the price has 'dipped' all of nothing. Careful with your shorts boys. Is at least one of you going to be honest and admit you were either stopped out last week in the sudden run up or took a margin call? |
|
|
|
|
Volume pitiful. Women and children first eh abercrombie?
A quick look at bitcoinwisdom shows the price is still 400.
|
|
|
|
You should rather get job as a physic, if you inherited some gift from your mother, then as troll.
Weren't you listening? He doesn't have an agenda! |
|
|
|
Good morning, will this be the weekend that we kiss $400 goodbye ? lets see what will happen.
I think we have a few more days to go before that happens, but who knows. i give it 80% chance we are at 350 or lower by end of next week, and 20% chance we are at 500+ So no chance the price is stable |
|
|
|
|
Looks like booze could have been involved!
|
|
|
|
I must be psychic too, because I concur Do you even understand that your examples are all services? You can switch to another service in seconds and the cost of doing so is nearly zero. However, ipv4 had a first mover advantage against other packet transfer methods, inclidung vastly superior ipv6. That is the analogy that anybody who understands anything about bitcoin would make. You don't, so really, just go somewhere for 5 years.
The best analogy I can think of is: Bitcoin is like UUCP, which was invented in 1978 and was actively used for 20 years, then when TCP/IP Internet got popular, UUCP usage dropped, but one of the last legacy UUCP services was shut down only in 2012, although very few people used it since 2000. Bitcoin now is like UUCP in 1994 when PPP connection protocol was standardized. It can still grow, but not at its prior rate, and new emerging protocols and technologies are on the rise to make it obsolete within a few years. Or even faster than that, as the time it takes to develop technologies has contracted, as numerous examples of late show. How about this analogy? What do any of the newer alt coins do that bitcoin does not? What evidence do you have that any alt coins whatsoever are gaining ground on bitcoin? I guess half a billion dollars of VC funding didn't get the memo . Anyway bitcoin isn't even the first electronic cash system to exist. |
|
|
|
Paypal integrating bitcoin as justification for future success and price rises is wishful thinking? Not sure I agree with you there.
Of course crypto 2.0 coin could rise up and win the race. But as it stands bitcoin has a huge first mover advantage, huge network effect advantage and is the only crypto being built into internet payment systems globally. It may fail but its upside potential are undeniable.
To say it has reached its potential as we are on the cusp of going mainstream, with huge VC infrastructure investment ongoing, suggests you either sold already or cannot handle the volatility of a long term bull market.
AltaVista had first mover advantage against Google, MySpace had first mover advantage against Facebook. Nokia had first mover advantage against iPhone. I see that everyone here believes what they want to believe and opinions catering to personal biases are favored, others dismissed. I won't post here again. I have no agenda, just posted the message. Do what ever the fuck you want. The first mover advantage would make sense in context if Bitcoin had large numbers of users. Bitcoin is only estimated to have 500K-2M users.. I would be singing a different tune if Bitcoin had 10 or 20 million users but doesn't. Bitcoin pioneered the initial innovation but the torch is slowly being passed to the 2.0 coins. It is the underlying bitcoin network that gives bitcoin its network effect not simply the number of users. No altcoin is currently even close. |
|
|
|
Lol, I never said no one would like to be his own bank. You, for one, clearly do. I'd advise against it for now, though. For now, just focus on learning the difference between statements of fact and overbroad generalizations.
Ok, who is saying who is guilty of overboard generalizations here? I never said I wanted to be my own bank. Nor did I say that you thought nobody would want to be their own bank. My comments weren't even directed exclusively at you. Check that vanity. The point I was making, is that while you and some other individuals enjoy easy access to credit, or might not be interested in being their own bank, there are others without all the same services and conveniences that would find the prospect to do so very liberating and highly beneficial. Making an argument that bitcoin has failed; it has no use; every function is already sufficiently provided for by another service so nobody could possibly want it is a very short sighted, ill-conceived point of view. Before you can feel accused once again, I'm not implying those perspectives are your own, but they are present here and using parts of your comments served to illustrate a point. Taking a line out of context "to illustrate a point" you knew I wasn't making? Manipulative and dishonest  *If you do not wish to be your own bank, Bitcoin, as a payment method, is probably not for you. I apologize for assuming you wished to take banking into your own hands, as you feel the great unwashed should. Speculating about Bitcoin's hypothetical future advantages to the poor and teh undertrodden is fun, but those are just that--speculations ungrounded in fact. We might as well speculate about Bitcoin's hypothetical future usefulness to our Beneficent Lizard Overlords. Thus far, neither the poor nor Our Mighty Lizard Rulers (Long may they reign!) are flocking to Bitcoin.
On top of all that, the poor and undertrodden with smartphones, net access and laptops aren't so poor, and are likely to have better access to conventional money services.The quoted line, restored to its proper context, suggests that USD crashing to zero would be a cataclysmic event, while BTC tanking would, at worst, cause srs lulz.
Did I suggest the inevitable demise of USD... No, you did not. The intended recipient of the line you quoted did. That's why context is so important. Without it, easy to get confused Wrong. The trend of cheap tech permeating even into deepest darkest Africa is both obvious and irreversible. Legacy banking will never penetrate into these places. Infrastructure such as roads and phonelines are absent yet mobile dumbphone use is ubiquitous. Soon cheap smartphone use will be near universal globally. If you cannot see that whichever monetary system which can be transacted via a phone, used to store value via a phone safely backed up in the cloud then you are not looking at the big picture. Bitcoin has existed for five years but the technology distribution to free the globe by exposure to the internet and the protocols running over it such as bitcoin is only now being realised. It is an exciting time. Personally I think getting a bitcoin wallet app (with a memorable recoverable seed option) on every new mobile being created around the world is something the bitcoin foundation or wallet designers should be pushing really really hard. Even a Samsung wallet would be great..this will happen for sure in the next five years. |
|
|
|
even though the bulls look pretty weak, i think we can expect somewhat of an upside correction over the next couple days. the bear momentum fizzled out. i don't think we'll get too far, but wouldn't want to be opening shorts here.
My thoughts exactly. Risk reward ratio has shifted away from shorting with the crowd relatively safely. There is a lot of cash on the sidelines from those traders who sold already and are looking to get back in. There are also thousands of short contracts which must be bought back with any sustained buying that develops. The last price jump was a test and it worked. Shorts are now doubting the continuation of the trend, more experienced traders have extricated themselves already. Not long til denzel Washington gif is posted again |
|
|
|
This place would be so much better if everyone would just stop quoting idiot stolfi.
It's amazing you guys still don't get it. This isn't about Bitcoin. This is about him getting attention. All you are doing is feeding his need for attention. He will keep saying the opposite of what you say just to get attention.
Why don't you people realize this?
If this thread would be closed he would find another high traffic thread about a much talked about subject. He will read it and then start posting in a way that will make a lot of people reply to him. This can be a forum about candy, seals or trees. He doesn't care. He is obsessed with getting attention and you are giving it to him.
Actually he's a paid troll. He's paid to be here. As I'm sure there are others here as well... starting to think mmitech is a paid troll too, the way he blathers on and on ad nauseum... Well unlike most of idiots who talk about me being a troll, I actually owned Bitcoin and I actually made good profits and that was achieved by using so commonsense and objectivity. I am not a Bitcoin die hard cultist and if Bitcoin would crash down and burn that wouldn't change my life style allot... I have a profession that I can start using again anytime, I was(am) a successful engineer even before I know about Bitcoin.You're really going to come on a pro-bitcoin forum, drag out 4 years old, tired counter-arguments about how Bitcoin is doomed to fail and here are the valid reasons, pat yourself on the back and tell everyone else they lack the objective thinking of your brilliant mind?? That sir, is the purest definition of TROLL that I can think of. ALL HAIL THE BRILLIANCE OF MMITECH! Unemployed too it seems. |
|
|
|
note: i was permabull until recently. I turned bear just few days ago after seeing how it dumps on paypal-news. Paypal was ment to take this to 5k$
Now what does it do?
Price leads sentiment smalltimer, not news events. Half a billion dollars of VC investment into infrastructure by the end of the year, widespread global merchant adoption and integration, large funds such as GABI entering the market, regulatory engagement, a potential ETF to be approved (opening up a huge potential capital pool of investors) suggests that bitcoin has enormous global future potential. Ask yourself why all this trouble for what is probably only a million active bitcoin users at present. Patience! "patience" means: 'be ready to hold during stagnation until it halves' Until the halving occurs? Unlikely but possible. Also possible an ETF is approved by December and insider buying drives BTC up to 700 dollars in a week before it explodes through early 2015 with an influx of easy capital. |
|
|
|
|
Show Posts
