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This little upswing is merely a rush up to the castle walls. The real siege of $780 has yet to start.
As I was typing, Stamp got knocked down from the $770s all the way to $762 with walls set to slow down further advance.
Don't expect to see $800 just yet. The battle for $780 will be just as bloody as the siege of $750.
Isn't holding fun?
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Still creeping up... $771USD/$1028CAD.
Go btc go.
______
edit: $774/$1031
hard to keep up
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Helluva bear market I must say.
Some people think it's always a bear market.  Different strokes for different folks. I prefer when the market bears me a nice profit on my holdings. |
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things are moving a little. bitstamp is now lower than btc-e which don't happen very often. that might be a sign of further action.
Creeping up quite nicely... $765USD/$1020CAD at Bitcoinaverage. |
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In recent times, I have been making various attempts to avoid disclosing too many specifics regarding exactly how many coins that I hold, but surely, there is some information out there in which you could get ball park ideas.
Based on this post, and your earlier posts about your average cost per coin, here is my approximate estimate regarding the number of coins that you own.
Approximate amount invested: 4.53 x $750 = $3,400
Based on my foggy memory - estimated average cost per coin: $150
Approximate current number of coins held: $3400 / $150 = 22.67 ( 1/one millionth of the total BTC supply)
No. You've made some false assumptions. I won't be too specific because I also don't want to disclose too much. First off. When I said it would take 4-5 coins, I meant at $10k per coin to cover the total amount fiat I've currently spent. The $40k+ I've invested includes the $6k I paid for the 50 coins I lost at MtGox. The $150/btc figure was just a rough guess and a while back at that. There are all kinds of intangibles like the cost of my mining expenses versus the coins I mined, and the coins I received as tips/gifts and those I spent/donated. It has also risen to over $200/btc. I keep buying the dips but the dips keep getting higher (this is a good thing!). Let's just say I have over 100 and under 1000 bitcoins.  |
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Good morning Bitcoinland. I see we had a wee rise overnight... currently about $757USD/$1012CAD according to Bitcoinaverge. do you consider +1000 CAD per bitcoin good or bad news, from a personal perspective?
You often mention you are accumulating, so you want the CAD price to be as low as possible. Correct?
Or do you simply convert all your savings into bitcoins, no matter the CAD price? Any particular number you are aiming for?
Really, $1000CAD is no big thing, just an arbitrary number. I did however use CAD to buy my bitcoins, so there's double satisfaction in having earned from Bitcoin's rise and also from having used it as a safe haven from the loonie's decline. While some accumulators desire as low a price for as long as possible to keep accumulating as cheaply as possible, I'm happy to see the price continuing generally upward as long as I get fairly regular buying opportunities in the form of short-lived dips. If I need to buy some dollars for an emergency, I'm pretty much guaranteed to turn a profit. I don't convert my sayings into bitcoins. My Bitcoin holdings are my savings, more like a pension fund for my old age. When a buying opportunity occurs, I add as many bitcoins as I can afford without crimping my operating cash. A target number? I've thought that when (if?) it reaches $10k per coin, I'll spend what I need to buy back all the dollars I've spent on Bitcoins. Currently, that's between 4 and 5 coins. |
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Good morning ladies and gentlemen of Bitcoinland.
Not much change but what little there is, is in the right direction... currently $745USD at Bitcoinaverage.
At least we Canadians are back in quadruple digits... $1001CAD.
We're still basically where we were a month ago. I'd guess that $700 is a done deal.
Time to start moving up again. Let's put $750 behind us and get to work on $780.
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Good morning Bitcoinland, slept in a little today.
Still stuck pretty much where we've been for 2 weeks... currently $739 on Bitcoinaverage.
Understandably, conversation around here sounds like a bunch of bored people, a little rehashing of the block-size debate, mixed with random bullish enthusiasm and bearish trolling.
I'll be happier to get back to quadruple digits Canadian (currently $994CAD) but if I have to wait a little longer I won't lose any sleep over it.
November is almost over and it's looking like it'll end up where it began. Ho freaking hum.
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It is more stable and might just rise 20% every quarter.
Wow I thought I was bullish. Starting at $740 and compounding quarterly at 20%, in a year we'd be at $1535USD, a new ATH. That's $2075CAD at current exchange rates. Nice to dream about but I wouldn't bank on it. |
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I think we should more be focused about the recent drop that has happened these days, even now the price is dropping too much.
Maybe because people have spend lots of money on black friday and now are not interested in bitcoin until next month or next year.
The recent tiny dip? Not deep enough for me to buy into, a mere bump on the long road upward. Black Friday? That means nothing to people outside the USA. Do you think they care in China or India? Or the rest of Asia, or Canada, or Europe, or Africa, or South or Central America, or Australia? Sometimes some Americans allow themselves to get brainwashed into thinking that the world begins and ends in the Land of the Incarcerated and the Home of the Emboldened. |
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all I see right now is a 6-months long cup and handle formation  Which meeaans...? Onward and upward. |
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The ones who are buying bitcoins at that price are the ones who had black money in their pockets, because their government has banned higher denomination notes currently.
Not all people who choose to avoid banks are criminals and not all anonymous money is black. Probably the majority of the Indians' money flooding into Bitcoin recently was hard-earned. Only in certain cultures are banks considered to be the "normal" place to store wealth. Indians have always favored physical gold for example as a way to store wealth long-term. Not everyone lives (or wants to live) in the kind of oppressive regime where the government spies its citizens and monitors their individual holdings. |
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Good morning Bitcoinland. Slept in a little. Too busy to check in yesterday but I see we dipped a dime.... currently $739USD/$999CAD. That's the first time we slid back to the dreaded triple digits (CAD) since last Sunday's short-lived "crash" all the way down to $975. Was that the last bear trap before bursting on upward? _____ While I was pouring my coffee, it just went back up over a grand. Feels better already. |
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For all the wishful thinking and pipe dreams of the bears, it's pretty unreasonable for the price to be below $1000 by the end of 2017.
Of course some unforeseen event could drive the price back down to triple digits after it passes the ATH, but as more markets open up (as India has recently) the price has to go up.
You can dream about sugar plums and lower prices to your heart's content but in the real world, Bitcoin is being used as a safe haven for wealth and as an international transfer medium by more people in more countries all the time. To think the price would actually be lower is simply unrealistic.
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The main point is that the exponential growth cannot last endlessly.
There is always a limiting factor that stops it.
Take an example of colony of bacteria. They multiplicate exponentially, or nearly that, as long as there is enough food supply.
Once there is more bacteria than food, the exponential growth stops.
Yes. This is why it forms an S curve. It only grows exponentially until it goes "vertical" and then it tapers off exponentially to the saturation point. Luckily Bitcoin adoption is far from going vertical, let alone reaching saturation. Exponential growth a while longer is a reasonable expectation. |
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Good AM Bitcoinland.
Negligible change since yesterday... $749USD/$1011CAD (Bitcoinaverage).
It's been pretty flat this week. What will the weekend bring? Down before up? Simple move upward? More sideways?
Even if it dips, I seriously doubt it will go much below $720.
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Does gold scale? I don't think so.
I think it does. Given that the basic unit of gold is the 12.4 kg bar, a mere ounce translates to satoshis compared to a whole bitcoin. What are grams worth? Do we hear milligrams? Fiat currencies are much less scalable than either Bitcoin or gold. Any one still use mils? |
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>>> the price is rising because the mempool is overflowing<<<
Actually, isn't it the rising price that causes the mempool to overflow? (Ignoring partisan spamming, that is.)
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So hold it and wait for the $1000 price. But once it reach that amount, will be followed by a short term collapse again.
Every milestone brings profit-taking/correction. $1000 will be no exception. Wait until it hits $10k. that will be a serious correction. In fact at that point I may actually spend a few coins to buy some dollars to trade for stuff I can't buy with Bitcoin. Fun. |
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