The terrible community surrounding it.
Sometimes I really think that if the community had any tact at all Bitcoin would have a chance of appealing to the real world. |
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I was about to confirm this thread, however my information is different. BTC is set to continue its upward spiral until it plateaus at roughly 100 DOLLARS per coin.
Why do you copy me? He is obviously indicating your claim is full of air. Dunno, I'd like to hear some specs from you too if you have some information other than what the doomist are spamming 24/7 anyway. Yeah I see that if he did it once, but he did it in another thread too which is pretty childish. |
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You are correct. People heard about BTC and said, "eh, no thanks." Now, we are facing a market with no new money flowing in. As miners slowly realize this, they will stop mining and liquidate their BTCs. We are set to see a supply overrun and with supply >>> demand.....BOOM!
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I was about to confirm this thread, however my information is different. BTC is set to continue its upward spiral until it plateaus at roughly 100 DOLLARS per coin.
Why do you copy me? |
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Not to be the bearer of bad news, but if the price is still above 10 in the coming days, you need to sell.
If that's your strategy, you should sell now no matter what. Then buy back if it drops below 10, or cash out if it doesn't. correct. |
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Market sentiment is down which I think is going to definitely harm the BTC market. A crash is not out of the question at this point. Unlike anything we have ever seen before (hack excluded).
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How is intrinsic value "weird shit"?
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Not to be the bearer of bad news, but if the price is still above 10 in the coming days, you need to sell.
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I was about to confirm this thread, however my information is different. BTC is set to continue its downward spiral until it plateaus at roughly 50 CENTS per coin.
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I wonder how Mt Gox would do.
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Contact me if you are interested in math tutoring (just about any subject) in exchange for bitcoins. We could exchange an online session if you are not local.
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The thing is you still can't buy much with bitcoins. It's just a battle of who is going to waste money on electricity and who will buy their bitcoins to recoup that cost. And don't tell me cause one restaurant in New York takes bitcoins that they are all of a sudden useful in reality. I don't need drugs, dont' need web design, and I can buy my burritos with cash.
You can buy anything on Amazon.com with bitcoins. This is news. How? Without first converting to USD? |
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So, you finally bought some?  now it must go UP UP UP =) I have held a position in BTC even while my near term outlook was negative. My long term outlook remains unchanged. |
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It's not really a store of value in the system it has now though - disregarding any possible future of it becoming more than it is right now, it's merely a game of hot potato.
All the speculation and valuation surrounding Bitcoin right now is from people looking at what could be not what is. If that "could be" disappears, and the groups of people who end up wanting Bitcoin dry up, value goes to the shitter.
By that assumption gold, which also really doesn't have much of an economy, can be considered a "hot potato," too. It's not just the economy of Bitcoin that we have to consider, but the market surrounding it. If some third-world country (or US) has its currency tank, and people decide to use Bitcoin to secure their savings, because buying gold is not an option, that "speculation" or store of value alone will keep its price up. In that case, Bitcoin can even survive and grow before any economy is actually built to use it as an actual currency (kind of like what it's doing now) Gold is not an appropriate analogy because it has been demanded as a show of opulence for centuries. Yes, gold does not have the practical use of a commodity like oil, but it is still useful (often in a mating context). This property of gold has actually been studied and various shows of opulence have existed across cultures through time. |
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USD/BTC exchange rate poised to escalate rapidly in the coming days. Excellent buying opportunity at the moment. Huge demand post Gox re-open bodes well for investors. Mining expected to become more difficult through upswing. Be prudent with capital expenditures.
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If no market for bitcoins develops, would you lose faith? Say the market for bitcoins continues to exist in its current state where there are limited products/services you can buy?
If all that Bitcoin ever has is a healthy exchange market, it will still work as a store of value similar to gold, and will still be ok. Even speculation by itself, in something that retains value and can be easily traded, has "intrinsic" value. That's interesting. It could essentially be a way to speculate on energy prices. |
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If no market for bitcoins develops, would you lose faith? Say the market for bitcoins continues to exist in its current state where there are limited products/services you can buy?
That would be a failure of the bitcoin movement to convince the general public, not a failure of bitcoin specifically. The question is not whether the technology will fail. |
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If no market for bitcoins develops, would you lose faith? Say the market for bitcoins continues to exist in its current state where there are limited products/services you can buy?
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My password wasn't on there, so I'll just throw it out there. My old mtgox password was 5kGrv3cM5-W_VKc9d6Zc. And no, I don't use it for anything else....
Edit: I've also started using 30 character passwords now too. All this talk about cracking 10 characters in 3 seconds has me paranoid!
I use the same password, what a coincidence. |
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Is there anything that would make you lose faith?
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