|
atc cannot understand
This is not a stock
A bond
A share
A option
Its a currecny, its not a investment vehicle per se
Rather btc is a reorganisation of society.
A side effect is you wealth may be accrued who ascribe to this new paradgm sooner
It does not obey any analysis you know of or have used. Iron condors, copper crustations or any other psuedo babble you wallow in, come back to me with a physics level proof then i will listen
Even if analysis could be said to work, because anyone that could call event 0.5% consitantly would own the world in 5 years - 10 years.
Furthey the gulf for btc to grow into is all of human historys years of scams wealth dilution by QE etc for the benefit of the banksters....that is trillions upon trillions that are going to be gobbled up by btc or some other crypto.
There is only 2 ways this can go to infinty and beyond or zero.
No one has made an international currecny before, nor one that can be artifficaly manipulated, or the powerfull can just take.
This is a shift in soverignty from the state to the indivdual
|
|
|
|
|
Going to be a solo event! Eh!
|
|
|
|
http://www.eutimes.net/2013/03/russian-leader-warns-get-all-money-out-of-western-banks-now/A Ministry of Foreign Affairs (MFA) “urgent bulletin” being sent to Embassies around the world today is advising both Russian citizens and companies to begin divesting their assets from Western banking and financial institutions “immediately” as Kremlin fears grow that both the European Union and United States are preparing for the largest theft of private wealth in modern history. Start of the end? Hang on Hang on, wasn't the other way around not so long ago, it was the West saying the CCCP would take your property? Now Russia is defending property rights |
|
|
|
|
Seriously I called the top with at 75, and it was 74.90
time for BTC
|
|
|
|
I was replying to Adrian X implication....!
I was implying it's just going up, I thought I was playing a step in the market at $15 but it ran away from me. I don't think it will step down to the low $60's any time before $200. Anyway I have the same view as you for totally different reasons I think it is possible to see single digits within 2 years. well yeah you were "right" except how it went to $60 or less $ 50 something Ok did the big sell and now up we go |
|
|
|
I don't get the impression that most people here understand what fiat actually means. I think they like to act like fiat currency is the devil because they are Libertarian or something, and moaning about fiat money makes them feel more like a good upstanding libertarian. Personally, I can't stand libertarian economics, and one of the reasons why is that the hatred of things like fiat currency is completely irrational.
BTC, BTC lite and other cryptocurrencies are digital currencies. Cryptocurrency is not commodity currency, it is not fiat currency and it isn't representative currency, either. It is new. Economists call it digital currency. Treat it as something new, rather than trying to shoehorn it into some mercantile era jargon that you don't actually understand.
Describing it poorly is not only doing a disservice to your ability to use it, it is doing a disservice to anybody trying to learn about cryptocurrency. Giving a new person a bad analogy will confuse them enough to be suspicious of you, which will make them not buy or use BTC.
FIAT is a mechanism to get projects done with limited "commodity" eg gold, so you get promissory notes develop, and when these become delinked from, a commodity, they can be printed at will, That is FIAT should always be mentioned in the same breath as fractional reserve banking, and CRR the (capital reserve ratio) which is set by the Basel II accord. FIAT is not bad, rather it allows larger projects and enterprises to get off the ground because people come to believe in the value of their money But what happens is when the GOVT starts doing wasteful projects, acting in efficiently, eg almost everything they do or make stupid regulations/law (most of them), the FIAT loses it value, as people did things, but what they built no one needed, so their work was worthless, and fiat is devalued from it face value. But people see they need more FIAT to buy the same commodity because the actual value of FIAT has been sucked out, but they were still working for at the assumed rate of fiat. BTC short circuts this, it give the govt no where to hide their inefficiency. The other limb to this is the only way to get non cash money in to the system is by an approved deposit taking institution (bank) issuing a loans to the limit of their CCR requirement. The kicker is the only way to pay off these loans is the ADI has to issue more loans, or you have to increase the velocity of cash. So you get this massive ever increasing inverted pyramid, of endless executing loans to service prior loans. The only way you get paid (apart from cash) is some one stood infront of an ADI and executed a loan. Most people have no idea about this. FIAT is a mechanism to organize society BTC is another mechanism BTC is more efficient and harder to manipulate and cannot be artificially inflated to hide in efficiencies edit [this is the bit where you see your wages shrink versus cost of living, because your productive work is being siphoned of by banks / money printer who then award the money to themselves] for this reason it will suck the life out of FIAT |
|
|
|
|
Why does no one get that
BTC is backed by fiat to the value of FIAT at the time the transaction is done , and as soon as that backing is done, the BTC value increases inversly proportional to the inflation of FIAT.
See when I hand over state back FIAT for a Bitcoin, it goes some where some one uses that FIAT, but in the process I backed my fiat into that Bitcoin.
That FIAT at the time I payed for BTC, backs.
Then the BTC retains the value of the FIAT at the time it was backed and the FIAT value is inflated/taxed away.
This sets the floor for BTC value, the amount of BTC exchanged for Fiat at the time the FIAT was exchanged. The non moving coins yet to be sold for FIAT act as an unkown/divisor in this equation.
There is then the multiplier effect of the usefulness of BTC vs FIAT, being cannot be inflated, easy to transact in etc etc.
SO BTC is state backed to the value of FIAT that was exchanged for it.
BTC literally sucks the value out of FIAT, and stores it immutably
|
|
|
|
I see little chance of a larger correction to gold price unless the economy starts a miraculous recovery, which I don't believe in. Peak oil is still the most relevant problem that probably won't go away easily, next decade the earliest. Energy is the backbone of the whole economy and the gradually and slowly rising energy prices are a major source of friction in the economy causing everyone to take on more debt. Players in the economy are desperately trying to sustain growth while fundamentally there can be no growth because the energy to support that growth is simply not there.
Thus the problem is much deeper than many realize, in the current situation every time the economy "recovers" oil demand spikes and then oil prices spike causing another major crash. In fact the crashes get bigger every time, with the world being still so dependent on oil. I expect that what we saw in 2008 will be small once we hit the next cycle.
I expect the economy to do a larger fake recovery soon, but then we will go much deeper than in 2008. Simply because not enough has been done to reduce dependency on scarce resources such as oil. Global oil production hasn't increased since 2005 most likely, yet demand keeps going up thanks to China and other growing economies.
Gold bugs know all of this and will certainly feel more safe with gold than USD. Even though I'm quite bullish on Bitcoin long term, I still hold significantly more value in gold than in bitcoins. This could change but slowly, over a period of many years. Once I feel more confident about the economy and the state of Bitcoin I might consider changing more gold into bitcoins.
THORIUM REACTORS, AT HOME< THE SIZE OF A WASHING MACHINE END OF ENERGY PROBLEMS |
|
|
|
This is an exercise in futility!  You can't predict the value of anything unless you have at least some information on what is going to cause that growth. What we have at the moment is a very rough technical infrastructure with no legal or political backing. The more I look at bitcoin, the more I see a similar path to Linux developing. Its going to take a numbers of years before it gains momentum, and then, suddenly, every is using it, because they didn't realise they were. Everyone wants to see the numbers go to the sky, and to some extent they will, but without a time frame, and some idea of real growth drivers, your graph just looks very pretty! If you are going to make a nice graph, you need to build in a SWOT analysis to give you a far more realistic background which will help create a very useful guide of everyone on the future direction of bitcoin. no legal or political backing. << this is what make it strong |
|
|
|
Just finished reading the article a third time and besides being clear cut in the "good news" category, this is also a very sad day for Bitcoin.
For those of you wanting a return on your time and money invested in Bitcoin fine, you've just got it.
For those of you wanting Bitcoin to be decentralized and out of the control of international banking, this is the end!
1. Having an entity clearing all transactions in and out of Bitcoins for all Americans should make you wonder. The excuse of saving a few percent in bank transactions fees, should make you outright scream!
If you for a second let yourself allure into thinking that this is paving the way for Bitcoin adoptation and still preserving all it's strengths, you have not really understood what this is all about, and you could as well have invested in any other startup. Bitcoin is turning green, and I'm not talking about the lower power usage of ASIC miners, It's becoming the new Dollar, it is on the course to nationalisation of the worst possible kind.
2. Having a single business or a few, legally handling Bitcoin bank transfers in the US gives total government control of Bitcoin for all Americans.
I can't really understand that this forum where a lot of people would love to have less government control in general don't see the dangers of this.
3. Future Bitcoin users will conceive Bitcoin as an American legal alternative currency or asset and not as an international unregulated censor free internet cash payment system.
4. If Coinlab get's in trouble, do they get government backing or bailouts?
5. If a central entity handles money in and out of Bitcoin, how would that, with the help of marketing, not promote such an entity as the authority of Bitcoin?
Wake up, this is not the future you want for your children.
Your right but fortunately bitcoin will find a way to be more cheaply exchanged than the official exchange, if the offical exhange is in anywau ineffcent they will be arbitaged out of existance.... so they are doomed of they try anything funny |
|
|
|
The http://bitcoinstore.com/ front page's counter puts them at 12% of the needed goal of 850k in sales during the first quarter, the goal is needed to keep them at their current pricing. It is by far the most ambitious push for bitcoins mainstream acceptance we have so far seen. I myself have bought 364$ worth of sdd hardrives. Recieved them and am pleased with how everything went. Im browsing to find something more I could use as we speak, but I can only do so mch. If you care about bitcoin, have some and need any electronics now is the time to act. The counter currently stands at 110,964 / 850,000$. They are beating all or nearly all their competitors in prices, simply because their profit margin stands at what normally goes to creditcard companies. Seeing the counter as low as it is makes me sort of feel ashamed for this community. We really can and most certainly should do better. [disclamer: the poster is in no way more affiliated with bitcoinstore than being a customer, who cares deeply about their venture succeeding.] The time to act is now. deeply concerned - Isokivi People are not about to start spending btc when it is going up like this...! or until it stabilizes I am not telling anything new here, but you realize you can just buy extra bitcoins when you spend them, right? yes, and add the extra percentage that costs of buying more bitcoins and the fact that the price can move so quickly that I may have lost 10% more and the big fact that there is a 3000+ que long at mtgox, and it takes a while to get your money deposited there I am in another country, so to buy a bit coint has a 10% markup to its market value. if i was in the uq with pingit maybe You miss that it is a global currecny, and alot of players are outside the USA |
|
|
|
|
I called it at 75
Mt gox = 74.90000
can I haz my BTC now pls
16hijiSkt9NCpoUWCyiM57Y1VSWWpHcaRB
|
|
|
|
|
first part of prediction done
"And back to 60,
ok I think it will rally to 75 3 days"
|
|
|
|
|
yeah this has already been raised
|
|
|
|
|
I'm more interested in what the Chinese Govt thinks of BTC.
|
|
|
|
|
Pro tip whever there is news there is a world wide shortage of anything it means the opposite
|
|
|
|
i'm fond of memes. vokain and i came up with this one a coupla months ago:
The Attack of the Ribosomes
Bitcoin is like a virus. it mutates. it has it's DNA represented by the blockchain. and we, the community, are it's ribosomes that run up and down the chain crafting proteins for it's necessary functions.
Thats really good the BIT coin isn't about going up or being a currecny, its a new mechanism for re-arranging how society functions |
|
|
|
These boards are full of really weird people.
I like it here.
Heh thanks.... it just occurred to me in a flash of inspiration, yesterday!!! remember and wrote it down to day you saw it here first. |
|
|
|
The http://bitcoinstore.com/ front page's counter puts them at 12% of the needed goal of 850k in sales during the first quarter, the goal is needed to keep them at their current pricing. It is by far the most ambitious push for bitcoins mainstream acceptance we have so far seen. I myself have bought 364$ worth of sdd hardrives. Recieved them and am pleased with how everything went. Im browsing to find something more I could use as we speak, but I can only do so mch. If you care about bitcoin, have some and need any electronics now is the time to act. The counter currently stands at 110,964 / 850,000$. They are beating all or nearly all their competitors in prices, simply because their profit margin stands at what normally goes to creditcard companies. Seeing the counter as low as it is makes me sort of feel ashamed for this community. We really can and most certainly should do better. [disclamer: the poster is in no way more affiliated with bitcoinstore than being a customer, who cares deeply about their venture succeeding.] The time to act is now. deeply concerned - Isokivi People are not about to start spending btc when it is going up like this...! or until it stabilizes |
|
|
|
|
Show Posts
