Hi all, I am new to the bitcoin scene. I am interested in investing but should I invest in BTC or LTC? I am no expert but isn't LTC value dependent on the performance of BTC? Let's say BTC value drops to $0 would LTC value be the same?
In advance thanks for the help.
If btc's value drops to 0 then ltc's value will drop to 0 as well. The difference right now is that if bitcoin doubles in value litecoin has a small chance to lets say triple its value because some people consider bitcoin expensive and altcoins cheap. It 's a bet so if you feel like speculating you may want to try litecoin. |
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The article is not so bad. I mean clearly the writer doesn't believe in bitcoin but it's an article focuses on volatility and volatility is a fact in bitcoin.
Apart from the title everything else is fine with me.
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Not a Bear or Bull,but I still find it surprising BTC has retained its current value during this cycle.
I 'll share the same surprise if the price stabilizes or even better if the downtrend gets reversed. For now i 'm still kinda scared.  |
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Of course they banned it.
You will risk imprisonment if you use it, but they can't let the Westerners know that. They need to be careful about what they state in their public releases. I would expect the chinese exchanges to slowly be closed down or at least have to go through a more vigorous "bribes (red envelope)" process.
In the crackdown on QQcoins, lots of people went to jail. Yet QQcoins are still traded today.
The notice explicitly states that online exchanges may continue to work normally although with strict anti money laundering rules. |
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Yes its people realizing that the bank of china notice it's serious because baidu already stopped accepting bitcoins. Add some "bitcoin is banned in china" fud and voila.
Yes, but there are some good news as well, tommorow will be interesting What are the good news? The bank of america 1300$ thing? I don't see it having any impact whatsoever. |
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I know many people that are pleased with all this loop thing because they think that helped the price not to collapse completely.
I don't think that it made any difference. I mean those who are going to panic they 'll panic sooner or later.
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The takeaway from that should be that when BTC captures even more of the value that is currently held in other commodities, such as gold, that BTC will continue to increase in value. Which are easier to store & transport...bitcoins or gold bars & coins? Which are easier to use for commerce directly? Bitcoin only has a tiny fraction of the total value held in other commodities, and has the capability of becoming far more useful. So, of the two, an oz of gold seems rather overpriced to me now and a bitcoin seems like an astounding bargain even at current prices.
While i agree with what you said, i was talking about comparing bitcoins with ounces of gold. The comparison is meaningless. There is no point on comparing bitcoins with ounces or grams or kilograms or whatever... If you want to compare 1 out of 21m bitcoins with 1/21000000 of the total weight of gold in earth then ok. It will make much more sense. Value as such is meaningless, for there is no such thing as objective value in itself and by itself. It exists only in our heads, and our conceptions about it differ at any given time (that's what makes exchange of goods possible). Whether you like or not, people will compare the price of a bitcoin with that of an ounce of gold because it is the subjective value that matters... Actually no they will not. Some people will use it as a pr buzz but most of us understand that means nothing. Of course retards will compare it but it can't be helped anyway. |
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by the time you get your machine, their bitcoins double in price, they make profits.
You can only say this for fact in hindsight. at 1000/btc it's hard to imagine it doubling by March. I don't like long term predictions for bitcoin but do you believe that anyone was thinking that bitcoin will go from 200$ to 1200$ in one month? Absolutely noone. Even the more bullish among the bulls couldn't have thought of such a rise. True. But then there is a day like today where BTC drops 30%! Glad I physically couldn't get my money in early this week. Hopefully by next week my LTC miners should be here if people don't stop buying the damn video cards  Bitcoin dropped 50% or even more actually but what can you do when you have officials like the bank of china saying that bitcoin should not be used as a currency. (Whatever that means anyway) |
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plenty of other coins with more or lesser improvements to take its place  No idea if such a thing could ever happen.. noooo it will not. you cannot kill what doesnt bleed Everything that brought the price down, applies to alt coins as well  |
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It really depends on the coin. CPU mining Litecoin is generally faster that with a GPU. OP was talking about gpus and asics so i supposed he is talking about bitcoins anyway. |
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The volatility of bitcoin is over the top. 5 days ago i thought of 600 as something impossible and now i 'll be happy if the price stabilizes around there.
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Hi, I am in China at this moment and I can tell you that banks and bankers are buying bitcoins at lower price at this moment!
Although i want to believe you it looks like a desperate attempt to mitigate all that fud that it's going on around in the forum.  |
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http://www.bloomberg.com/news/2013-12-04/greenspan-says-bitcoin-a-bubble-without-intrinsic-currency-value.htmlFormer Federal Reserve Chairman Alan Greenspan said Bitcoin prices are unsustainably high after surging 89-fold in a year and that the virtual money isn’t currency. “It’s a bubble,” Greenspan, 87, said today in a Bloomberg Television interview from Washington. “It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.” The man who was the most wrong about everything in economics with the possible exception of every other Fed chief says Bitcoin is a bubble and has no intrinsic value. We must be on to something here. So if Greenspan is wrong about everything else, that automatically disqualifies him as giving a valid opinion on BitCoin? What if he is right, have you considered that, or does that not fit in with your worldview? No but the fact that probably he doesn't know what he is even talking about it does. I bet someone told him that bitcoin is an online currency that no central authority controls or issues and he decided that it's a bubble. In any case time will tell |
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In some countries those that pay taxes as they should are considered weak and even fools. People are bragging that they managed to avoid taxes with off shore companies etc.
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a load us would just buy from all the idiot panic sellers and reap the rewards.
Losing your temper and calling panic sellers idiots doesn't look like you believe to much on what you say. Just saying |
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Price can't go to $50 unless a catastrophic news, period. they have been pumping and dumping and making millions from that alone. when they feel the market can't bear more, why not dump and abandon all? what does it matter to those who have made a hundred million already?
Please provide some facts. I can't because you quoted something that another guy said under my name fix it please |
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Oh?! Baidu accepting 1.5 BTC for preorders on a single cell phone drove this market here? Wow, never thought that 1.5 btc could have such an effect, I had better sell all now while there is still hope!
Ignoring the fact that baidu helped the price explode is as ridiculous as thinking that bitcoins are banned in china. |
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Why are you even doing a poll about that? It's not a matter of oppinion China classified bitcoins as a commodity and said that it should not be used as a currency. Nothing more nothing less. |
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As many people posted before the this kind of loop isn't the first time that is happening so i guess we should have know better already.
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