Well, I guess this was a fun little dip for the bears to enjoy with their #alphanumeric accounts.
lol, to me, this is just some small dip... not some big crash mentioned by those #alphanumeric accounts... I think it will get back to $750... We'll see... Of course it will get back to $750 and beyond. That's a given. How soon is the only question and my guess is fairly soon. As for the #alphanumeric accounts, let's not forget the 6-character random part. "Unknown04" is alphanumeric but it's 9 characters long and it's hardly random. #sixcharacterrandomalphanumeric  |
|
|
|
People need a real reason to use bitcoin over fiat, and so far I haven't seen really compelling reasons. That's heresy, I know, but to me bitcoin works much better as an investment tool and store of value than as a currency to be adopted for spending. But we'll see.
Indeed, spending is not an important use for Bitcoin at this time. Its value as a medium of international transfer is however very real. When people sell their hard-earned dollars for Bitcoin to send overseas, it's to save time and transfer fees. Even the tx fees people bitch about are minuscule compared to bank or Western Union fees. Likewise, even if it takes longer than expected for the transaction to be verified a sufficient number of times by the network, it's still just hours and not a week of banking days. These are very real, very compelling reasons. |
|
|
|
|
You make some very good points about the different reasons for increased adoption.
I'm still of the mind that the number one motivation for people buying their first bitcoins is as a medium for international transfer and as a safe haven from government capital controls and bank bail-ins etc.
Sure, the majority of bitcoins are held and traded for speculation but these are often the same coins being traded back and forth.
Obviously beyond mere speculation, the reasons for Bitcoin use have changed over the years. At first it was as much a proof of concept as much as anything. Buying a couple of pizzas in Florida with bitcoins from someone in Britain was a landmark moment as it established Bitcoin not only as a system of commerce but also underscored its international nature.
Then came Silk Road and Satoshi Dice which established it as an international pseudonymous unit of trade in black/grey markets.
With the Cypriot banking crisis in early 2013 a new market was opened up. As we've seen, this extended to China, India, Italy, etc.
In my own experience, when I visit one of the local BTC ATMs, I see people of visible minorities with limited English language skills lined up to buy modest amounts of Bitcoin, presumably to send home to families in their native countries.
These are not speculation coins. These are bitcoins performing real-life financial tasks. These are the coins that (in my opinion) have caused the price to rise upward despite the ups and downs of the speculative market, and will continue to do so.
|
|
|
|
...bulltards...
 ^^^^^^^^^^^^^^
Leave me alone!
All of you are trolls.
HAR HAR Ask/talks_cheep/kwukduck  I love days like this. Traders get to brag about the imaginary zillions of dollars they "earned" shorting, while real investors get to accumulate more coins at a lower price before the inevitable rise. |
|
|
|
|
I was going to post this in the "We reached $1000CAD again!" thread but it seems to be locked so I'll post it here instead.
_____
Today's little dip not only dropped us back to triple digits, it took us all the way down to $973CAD. That was a drop of more than $50.
Now we're back up to over $991 and rising. Hopefully we'll be back over a grand tonight.
That $1000 represents 80% of the ATH. Onward and hopefully upward.
|
|
|
|
|
Today was a good time to buy Bitcoin.
Hopefully you already did it, preferably a couple of hours ago.
If not, don't wait too much longer. It's already on its way back up.
|
|
|
|
smoked the private keys.
Bro, when they say "paper" wallet, they don't mean Zigzag.  |
|
|
|
|
Just got back from buying all I could afford on a Sunday... half a coin.
Looks like I may have caught the bottom.
At times like this I get nostalgic for when I could take $500 bucks and go buy 5 coins but as I said on the last buyable dip, half a coin is better than no coins at all.
|
|
|
|
Gotta love this place. We dip to above where we were 4 days ago and instantly a bunch of noob trolls with random 6-character alphanumeric user names start troll threads. LOL Bears just love dumps. They remind them of home.  |
|
|
|
|
Good morning Bitcoinland.
So we finally got our first real correction/profit-taking after a week of pretty steadily rising prices.
Up $70 and down $30... all the way to $737 (Bitcoinaverage)
Not too bad for a weekend dump but nowhere close to what I'd call a buying opportunity.
Maybe next time.
|
|
|
|
|
I won't comment on the ridiculousness of $100k in 2017 but if it reached say $10k by 2020, I'd probably spend a few coins to buy some dollars to trade for what I couldn't buy with bitcoins.
The rest would stay where it is now, safe and sound in offline wallets.
|
|
|
|
|
Good morning Bitcoinland.
Slowly grinding through the $750 resistance... currently $751 ($1015 CAD).
Slow, but better than downwards.
|
|
|
|
I don't want to destroy anyone's illusions, but if I may ask, what are the sources of the news about Italy?
I've seen many people in here attributing this rally also to reasons tied to Italy, but as an italian who is living in Italy let me tell you, there has been nothing new regarding our economy or politics coming out recently, I really don't know what this fuzz is all about and what you international folks have heard about Italy in the past days.
This perhaps? https://cointelegraph.com/news/bitcoin-bull-run-alert-italy-to-begin-banking-bail-in |
|
|
|
I think this increase in the price are due to India and also the uncertainty with the Trump presidency.
I think you're right about India (as Lauda pointed out yesterday) but Italy probably also has contributed. As for the regime change in the USA, I doubt it makes that much difference. We saw how long the election night rally lasted. People in China, India and Italy have more important things to think about. Sometimes people get too distracted by speculators constantly buying and selling the same coins over and over again. This isn't what drives the price up. It's the newcomers (especially from countries instituting capital controls) acquiring their first coins who are most responsible for the ongoing price rise. |
|
|
|
|
A pleasant morning to all Bitcoinlanders.
Still scrapping over $750 I see.... $749 to be exact (Bitcoinaverage).
Seems the massive correction was short-lived and we're about where we were last night.
The good news for all the Canucks here is that we're still in quadruple digits... $1006.
Onward and upward. (Sure is nice not to say "sideways".)
|
|
|
|
Yeah, we hit about $1010 momentarily in June, touched $1000 on Nov3 and again briefly on Nov9, but in this last day we seem to have broken through. It's been solidly over $1000 for quite a few hours now and when it touched $1013.64 tonight, that was the highest it's been in almost 3 years. This shows the value of Bitcoin. We not only earned from Bitcoin increasing in value, we also earned from keeping our money elsewhere than fiat currency. As the loonie tanked, our bitcoins kept growing. Woohoo indeed. Cheers.  |
|
|
|
|
Show Posts
