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Bitcoins tredline is a growth of about 10x every year. 3 years then would have the price increase 1000x (if it continues on the trendline). Now I personally think that when it gets to high prices the growth will slow, but $10,000 is not that high (a capital injection of even a few billion dollars could spur a new bubble and send us there w/ ease), but after $10,000-20,000 or so I could see growth slowing
$10,000 in the next 3 years? VERY VERY FUCKING LIKELY (statistically, easily over 95%)
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I have seen this coming for weeks.
China is finally getting to the point where people in China would have to buy bitcoin off sources that function like localbitcoins.com (where people meet physically and trade cash in hand for bitcoin).
China can then try to ban that, but if they do and they fail to coerce people to stop buying bitcoin it undermines the power of the government (and they WOULD fail at that, so I would be interested to see if they really would try that).
edit add: This also wont stop massive Chinese millionaires/billionaires from buying. With that much power, they could trade assets/cash in China, for cash overseas and use that to buy bitcoin.
It almost makes me wonder if it is big chinese businessmen who are working in unison with the government in this to drive down prices in order to buy more... haha, I suppose that could be a spoke in the wheel
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ITT: OP doesn't understand economics or investing.
Some economic cliffnotes:
Investing is a RISK.
Money is a zero-sum game. It hurts EVERYONE to lose it, even the most wealthy people in the world.
Thus, when an individual, or group takes a risk and invests, they are investing the money in hopes of gaining a larger pie of the total money pool (again, money is a zero-sum game).
And here's a deep concept that many people never realize even to death-- ultimately, money and power is about responsibility.
And money should flow to those who are responsible, and altruistic (thinking of others, their family, their extended family, the health of the world, animals, planet, everything they love) (And I'm not saying the leaders of the world are perfect, nobody is, but they do a decent job (no nukes have been fired off in the past 50 years) ((and finally- if you think you can do a better job, then there's motivation and drive for you to get money and power--- and to make it go full circle- thats why I invest in bitcoin and dogecoin(most of my holdings are dogecoin-- because with strong confidence I believe I can gain a larger part of the zero-sum amount of money in the world by investing in those)
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This coin has a ton of potential to explode upward, it's like auroracoin was except it actually has a community-related cause related to the community and a catchy, inquisitive name
With a relatively small amount of volume it can go up 1000%....
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I have been thinking about this today. While bitcoin and digital currency does a lot of things, like, no fees for transactions, etc, one of the biggest, if not the biggest things it does is, in my opinion is:
no one has the ability of freezing accounts (no institution controlling them at large-- it's like cash or gold- but very easy to send long distances immediately (which previous cash or gold could not do)
-This is a major part of it I believe, bigger than the no fees part, prob 100x as important if not more
-it allows for a level of anonymity too, which may be more implemented in future currencies
thats basically it.
You can send long money distances (we had this before), but now, its 1) immediate and 2) unable to be controlled by a larger institution
thats huge....
------
But I want to hear your guys' feedback, am I missing anything else that is extremely revolutionary and powerful in what it does?
Let's hear your feedback
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With an alt coin, if the developer team lives, can an outside team come and take over the project (can they do it without the original devs team consent?
I guess my question is, are these open source like Wikipedia where anyone can edit the coin? or how does it work?
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Here's one for you OP.
Bitcoins trend: 4 years, went from approx. 1000:1 to $1000
Is a 1m times gain, in 4 years
Which is more than a 30x gain per year, which is 3000% return.
Which comes out to about a 1% gain per day (compounding daily).
So speak all the FUD you want, but 10k in, earns an average $100 per day.
and if you pick a good altcoin, like Dogecoin which should rise multiple times what bitcoin does in the next boom.
Well I'll leave you with something I remember from the book "reminiscences of a stock operator" (one of the greatest books on trading ever released)-- a stock was going down, and the young guns were telling an old trader that. The old trader said "maybe you are right, but I can't sell, its my position"
it is the same thing here. It doesnt matter if it goes down in the short term, it's my position -- and I understand its long term value, I'm not in the day-trading or swing trading game.
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Warren Buffett commenting on something he doesn't understand is unusual. He usually keeps his mouth shut regarding technology investments. He cares about 1 thing, making himself money. Him commenting on Bitcoin means that he believes it has the potential to effect his ability to draw in new investment and it probably scares the shit out of him. Enough for him to step outside his box and make a comment. EDIT: Buffett actually holds a huge position with Wells Fargo, who is one of the banks trying to get ahead of the Bitcoin movement. Unusual for him to make this statement while a company that he owns billions of dollars worth of shares is pro-BTC. It is contradictory to the point where it screams manipulation. http://www.finextra.com/news/fullstory.aspx?NewsItemID=25652EDIT 2: Buffett actually just boosted his ownership in Wells Fargo as well. Seems to me that his words say avoid Bitcoin, while his money screams BUY ME SOME BITCOINS! http://www.bizjournals.com/charlotte/blog/morning-edition/2014/02/warren-buffett-boosts-stake-in-wells-fargo-again.html?page=allFINAL EDIT: Buffett is famous for saying to be greedy when others are fearful. His actions show that he is not only afraid of Bitcoin, but is buying on his fear. I can't think of a more bullish sign. awesome comment, you are spot on. Also I might add, warren buffets investments haven't been performing at any extremely great levels recently. I feel like hes riding the broader wave of index-type return on investments. Thats not how he made his wealth though- he made his wealth by investing in things like bitcoin(massive return potential), its really quite sad that he doesnt understand the potential. I'm sure he will one day, hopefully soon. |
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So I have like 33 BTC and have a buy average of 705 USD as I got in the game late. Is it smart to just sell at a loss now in hopes the price will go down to the $400 to $500 range where I can get more btc for the price even though I will be still at a loss until like $650. I know a lot of you will be saying I should have sold earlier but I am a newbie and just kept hodling.
it already hit 710 today at stamp. keep your btc, donīt start day-trading now. the bear market is over, put the btc in cold wallet, wait some months and see itīs value rise week by week. it may feel bad to have temporarily "lost" some $. but i can tell you from experience: it feels much worse to day trade and end up losing coins. you do not only feel the pain of the actual loss, but in addition this hounting bad feeling about the potential future losses, since the coins you lost will keep rising in value... do not start trading now. and forget this altcoin sheit. sorry your late to the party, his question was posted yesterday when the price was $560-570. also, you seem to be new, or a novice trader. alt coins are the FUTURE. especially dogecoin. (I've spent many, many hours and analyzed virtually every other major coin, and went through about 200 of the top altcoins, dogecoin is the lowest risk, VERY VERY high potential, it has strong technical and fundamental support). Theres a big difference between 5x your money and 50x your money, but hey, you can't teach an old dog new tricks- unless he really wants to learn |
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So I have like 33 BTC and have a buy average of 705 USD as I got in the game late. Is it smart to just sell at a loss now in hopes the price will go down to the $400 to $500 range where I can get more btc for the price even though I will be still at a loss until like $650. I know a lot of you will be saying I should have sold earlier but I am a newbie and just kept hodling.
No definitely dont!! see my previous threads I made earlier today in the speculation section, the downtrend is breaking as we speak! and also, the smartest thing to do is buy Doge, best alt coin- low risk and VERY high reward, it should be at least 10x higher than it today, relative to bitcoin, based on the size and quality of the community! I hope you followed my advice in post #2 and saw my previous threads I made earlier as I mentioned to you https://bitcointalk.org/index.php?topic=497803.0and I would still stay put, once the next downtrend gets broken, the path is open to the heavens |
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It's up to 650-700 since about 14 hours from my original post. Haha, called that. And its taken off more than a lot of breakouts do (welcome to bitcoin) Tip me if you feel inclined, 1BwwMJZezZKpXm1mSVDmxLwd9T96am4Qyd I will also add, its testing its next major downtrend, as seen below. Once it breaks this there would be little downtrend movement from here on out! (AKA, once again, removing its weights), and I would estimate we would see $750+ quickly (the same as we saw it rocket off past $600) The question is whether a surge of buyers will come to break this trend, or if they'll let it coast down. I would also guess that this influx of buyers would come from China -- or those who lost funds from Mtgox-- either way, these are 2 parties of eager buyers so I would guess that that downtrend isn't survive for long.  |
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So I have like 33 BTC and have a buy average of 705 USD as I got in the game late. Is it smart to just sell at a loss now in hopes the price will go down to the $400 to $500 range where I can get more btc for the price even though I will be still at a loss until like $650. I know a lot of you will be saying I should have sold earlier but I am a newbie and just kept hodling.
No definitely dont!! see my previous threads I made earlier today in the speculation section, the downtrend is breaking as we speak! and also, the smartest thing to do is buy Doge, best alt coin- low risk and VERY high reward, it should be at least 10x higher than it today, relative to bitcoin, based on the size and quality of the community! |
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Economics.
Western countries, in general, where money flows to, like Bitcoin, like US, UK, Western countries.
Countries that dont like bitcoin (where investment money leaves, and flows to the west): China, India, Thailand, Vietnam, Russia, and probably most other countries where money flows out from
(and why is investment money leaving places like China, India, etc? because they are in a massive credit bubble, aka, their assets are overpriced while ours arent (like our real estate, which already crashed and is cheap-- their's is expensive as hell)
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this has been an awesome thread, thank you
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With Mtgox's collapse, bitcoin demands regulation, to protect investors.
This will lead to being overseen probably by the SEC.
Winklevoss' are already trying to make an ETF, and I'm sure others are.
Now it can be done as it's encouraged, again to protect US investors.
And here's the beautiful thing-
When an ETF is born, it is a VERY POWERFUL driver for the market price of a commodity
The same way silver and gold have been manipulated down in recent years, the price of Bitcoin can powerfully pushed up with an ETF, how? Because insitutional investors and the like will come to the ETF to invest, and thus constantly pushing up the ETF price (as opposed to the bitcoin price on the open market), this however puts upward pressure on all of the other exchange prices.
Say hello to our next bubble to be.
And the winners at large this time will be- you guessed it- alternate currencies. (like Dogecoin)
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See pic below, Looks like its takin off the weights dragging it down. One of the 2 major downtrendlines pushing it down are taken out, its testing the 2nd one right now. In my experience in trading and with its current momentum -- let's just say I wouldn't want to be short right now. It has the potential to rock off past these 2 downtrends and easily move to $600+ Although of course you/re never always right in the market, but this feels like a predictable move to me right now  |
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Some major points you're overlooking-
1) New markets, China, India, arab countries. Are you aware of chinese capital controls? Are you aware of their real estate bubble (theyre about the equivalent to where we were in 2007-- except perhaps 50%+ more inflated). We are talking about a 10 TRILLION dollar bubble. Further, it was in 2 short months, and out of NOWHERE that China alone moved the price of bitcoin up about $10 billion worth of market cap. Now digital currency is on the radar for the masses, and there are hundreds of billions of dollars stockpiled there each year looking for new investments. The Chinese are LOOKING for the best investment they can- their stock market is rigged, their real estate bubble is in an immense bubble, and they're VERY restricted from sending money overseas (even wiring more than $500 from a Chinese bank account to a US account is an extreme pain in the ass and raises eyebrows).
Also, digital currency allows the chinese to invest money easily or transfer money overseas with much greater ease than anything before. Yeah the chinese government hates it, as does india, as will arab countries (all countries where money is leaving will hate bitcoin, while, in general, countries where money will come to (like the US), will like bitcoin (you can see the Fed reserve's actions of passively acknowledging bitcoin(they realize its good, they dont want to publicly support it due to retaliation (esp from China/India).
2) Also, bitcoin may not have the kind of exponential growth as before- but these alt currencies very much can. Coins like dogecoin, or other novel small market cap coins. Dogecoin currently is around 50m, but should really be around $500m based off bitcoins current price just by the size of its community and volume(and note it is not even traded on btc-e yet where 80%+ of bitcoin and litecoin volume comes from). Not to mention, the community rocks.
Indeed, bitcoin had a good run but these alt coins can SURPASS bitcoins growth rate in the past few years-- this is why even in this current short-term downtrend I don't dare sell my position, because it is my position and it can take off at any moment (just like it did in Oct-Nov 2013)
Can you point me to any links (news etc.) related to the above? related to what part? also try google, all the info is online |
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Some major points you're overlooking-
1) New markets, China, India, arab countries. Are you aware of chinese capital controls? Are you aware of their real estate bubble (theyre about the equivalent to where we were in 2007-- except perhaps 50%+ more inflated). We are talking about a 10 TRILLION dollar bubble. Further, it was in 2 short months, and out of NOWHERE that China alone moved the price of bitcoin up about $10 billion worth of market cap. Now digital currency is on the radar for the masses, and there are hundreds of billions of dollars stockpiled there each year looking for new investments. The Chinese are LOOKING for the best investment they can- their stock market is rigged, their real estate bubble is in an immense bubble, and they're VERY restricted from sending money overseas (even wiring more than $500 from a Chinese bank account to a US account is an extreme pain in the ass and raises eyebrows).
Also, digital currency allows the chinese to invest money easily or transfer money overseas with much greater ease than anything before. Yeah the chinese government hates it, as does india, as will arab countries (all countries where money is leaving will hate bitcoin, while, in general, countries where money will come to (like the US), will like bitcoin (you can see the Fed reserve's actions of passively acknowledging bitcoin(they realize its good, they dont want to publicly support it due to retaliation (esp from China/India).
2) Also, bitcoin may not have the kind of exponential growth as before- but these alt currencies very much can. Coins like dogecoin, or other novel small market cap coins. Dogecoin currently is around 50m, but should really be around $500m based off bitcoins current price just by the size of its community and volume(and note it is not even traded on btc-e yet where 80%+ of bitcoin and litecoin volume comes from). Not to mention, the community rocks.
Indeed, bitcoin had a good run but these alt coins can SURPASS bitcoins growth rate in the past few years-- this is why even in this current short-term downtrend I don't dare sell my position, because it is my position and it can take off at any moment (just like it did in Oct-Nov 2013)
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I am pretty sure I have figured out what happened, I posted it in another thread so I thought I would share it with you guys-- apparently I am not the only one who has had coins recently stolen from them at poloniex--
what is going on is-
poloniex is being DDOS'ed, as well as cryptorush.io
I had the same robberies happen at both places. They are DDOS'ing the sites, taking the login info, and, for me, stupidly, I used the same login info for my email as my login there. So they logged into my email to confirm the withdrawls.
Now I have 2 way authentication and different passwords, I HIGHLY RECOMMEND EVERYONE DO THIS RIGHT NOW IF YOU HAVENT ALREADY
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