good morning, 200 in couple of weeks or so... just to remind the perma-bulls that trashed me before, this is the 3 years chart of Bitcoin's price (1W candles) tell me if it doesn't look like a bubble... and don't tell me this time is different:
Will this be the bottom? Or you expect less? you mean $370 ? nah, I think we are still far away from a bottom I expect coins between $150-200 this is why I sold all my stash between $580-630, but this is only my opinion and it is not a trading advice. |
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good morning, 200 in couple of weeks or so... just to remind the perma-bulls that trashed me before, this is the 3 years chart of Bitcoin's price (1W candles) tell me if it doesn't look like a bubble... and don't tell me this time is different: 
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Right know even ripple seems to be doing better than Bitcoin, which BTW reminds me about the ripple troll, where is he ? usually he shows up when the price is dropping...
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Well it's important to keep in mind that long term Bitcoin really is not only revolutionary, but also extremely useful. It's infrastructure is also becoming more and more robust on a daily basis. It's easy to panic while the price is dropping (which could be from the Alibaba IPO or huge mining operations dumping to pay their bills) but in reality Bitcoin itself has never been healthier.
The level of investment that has gone into bitcoin isn't going to disappear as these VC firms do multi year planning and know to expect a long struggle: especially in something as new as bitcoin. It took the internet awhile before it really kicked off as well- anyone remember the big tech bust of web 1.0?
Anyway, really we need to get people buying bitcoin as more than just an investment, although as an investment it's still probably fantastic in the long run. Our $10,000 coin dreams are based largely (I think) on bitcoin being adopted for remittances.
what fear got into you ?  just don't tell me you didn't sell anything when the price got to $1000 ? |
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in other words, I agree, gox fucked Bitcoin big time, when all the world was starting to get curious about Bitcoin and started watching, Gox had to go bankrupt, eventually this would happen sooner or later, but the timing was terrible.
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Honestly, I really still blame Karples for everything since $1200.
some people still think that MTgox is the reason of $1200, until we know what really happened with Mtgox we will never know what really happened with the price. |
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They turn off the miners and use the electric bill money to buy instead. They're in the Bitcoin business, mining is just a tool. That pressure will keep the price up.
Unfortunately, I think the mining business has moved from Bitcoin accumulators to Bitcoin sellers. People saw the $$$ signs and jumped in, pushing the believers aside. This is not necessarily a bad thing but I do believe it has had some effect in dampening the price rise we were seeing. if few thousands coins mined everyday (~3600 BTC) could constantly bring the price down, then maybe the price is not where it suppose to be, the price should be where demand and supply meets but consedering huge volumes because 3600 BTC is nothing... |
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I do expect prices lower than $200 before any new ATH. (in that matter the ATH will take a long time)
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you have to remember that there is more than 13 million Bitcoin in circulation
Well, most of those 13 million coins are locked up in cold storage. Roughly half of them are probably unavailable, since their owners no longer have access to the private keys. The amount of coins actually circulating on the exchanges or in the "greater Bitcoin economy" is somewhere in the tens of thousands, isn't it? Or maybe only in the thousands? Even with such a small supply, the demand still can't keep up. That gives us a valuable lesson about Bitcoin. We better start learning from that lesson. I don't know where did you get that from, but we have always assumed that the 1 million coin of Satoshi are unavailable and we assumed that around another million is lost ( I will explain further), and these coins being in cold storage doesn't mean anything... it took me 2 mins to spend my cold storage coins. - explaining why (I think) not half Bitcoins are lost: we all know that 68% of the coins in existence are held in addresses that contains between 1,000- 1,000,000 BTC  to make the job easier, you can check this site, first thing you will notice is that most of the richest 1000 addresses were created between 2013-2014 which simply imply to the owners still having control.  |
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If the price will not start to raise, and I mean REALLY raise, and REALLY soon, then it's game over. Just think about that.
It's game over for "get rich quick" kids. Bitcoin will be just fine if the price stays at $300 for a few years, just this thread will lack nonsense posted regularly. I am sorry to say, but you don't understand: if price goes down to $300, that will not be a stop. It will just generate another wave of people who will loose their faith in Bitcoin, another wave of people who will understand that the bubble period is over. All these will generate another wave of price going down, which will generate... I am sure you see the cycle here. There is only ONE chance to save Bitcoin only: price has to start to raise, and I mean REALLY raise, and REALLY soon, otherwise it's game over. No, you don't understand. There's a limit how much price can go down. Bitcoins are not produced out of the thin air, expensive electricity is invested to support the network. The supply can't get bigger after the price get's down to cost of electricity to produce a new BTC. After that point we enter the stability at the bottom, when it doesn't matter if someone is disappointed or not. you are wrong about this, not every BTC was mined today or yesterday, and mining is not that important when it comes to price discovery, you have to remember that there is more than 13 million Bitcoin in circulation, most of these coins are still profitable at today's price, in fact most of them are still profitable even if the price drop to $50, and this is one of the most logical explanations to "why are people not selling?" simply most of these holders are still way far from losing any money. |
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All these n00bs that don't remember 2011...
You remember what happened 2011 ? good because whoever were present should know better than anyone else what a long bear market means. |
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Forget the last bubble. If you knew a year ago that the price today would be around $400, would you be predicting the end of Bitcoin? Everything is going well. I don't know how much lower it will go, but I feel more comfortable holding now than if I had no position in BTC. I'll buy more if it goes lower and I really hope it does, but it feels cheap to me now.
from reading your posts that talk about your position, you seem to be a horrible trader, you bought and held when you supposed to be selling and you sold when you supposed to be buying... everything point to you losing so many Bitcoins/fiat to these moves. |
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What if those 2.8k at 420 were a real bid from a millionaire who chose that number because he is happy and stoned tonight? EDIT: While I was writing this, Loaded came up and posted a cryptic happy face again. Not implying anything here Since when we give a fuck about loaded ? I wouldn't be posting smiley faces when holding that amount of coins, his investment is losing value while he is watching, even if he bought @ less than $10... How did yesterday's Doge pump n' dump go? you were heading over there yesterday with much wow are you kidding me ? I have nothing to do with doge, and I never had. |
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What if those 2.8k at 420 were a real bid from a millionaire who chose that number because he is happy and stoned tonight? EDIT: While I was writing this, Loaded came up and posted a cryptic happy face again. Not implying anything here Since when we give a fuck about loaded ? I wouldn't be posting smiley faces when holding that amount of coins, his investment is losing value while he is watching, even if he bought @ less than $10...  Edit: I just realized that I accidentally answered an old post. |
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shit, once these sites started to appear you know what will happen to adoption, imagine your self as a person who've heard something about Bitcoin, your are curious, you want to learn more about it, you go to your search engine and type in Bitcoin, the result will be sites like this... |
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Good morning, will this be the weekend that we kiss $400 goodbye ? lets see what will happen.
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....
you are now just being a fucking moron, if those issues wont be fixed Bitcoin is not going to survive 20 years and neither will self distract in case of mass adoption..... these were my exact words, so please stop twisting them, period.
You and your camel  What area of engineering btw, IT related? Shows how bad this place has got when a troll is indistinguishable from a realist, by 20 years there will be so many potential improvements to crypto's that Bitcoin would likely need a complete rewrite at some stage (then the BS artists can do the whole "Bitcoin 2.0" thing again). Another crypto could take over at that stage unless it gets like email and too many people depending on it but more likely the trustless transfer of ownership thing will matter more than exchange rates before then. yep, IT...I always forget that I am just posting wrong things in the wrong section of the forum... I shouldn't bother so much... |
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Unemployed too it seems.
in fact yes, I am Unemployed , if you were here long enough you would know why... or let me tell you: I cashed out a shit load of money and did quit my job. thanks to Bitcoin ( and all the bull-tards that made investment worthwhile ) |
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This place would be so much better if everyone would just stop quoting idiot stolfi.
It's amazing you guys still don't get it. This isn't about Bitcoin. This is about him getting attention. All you are doing is feeding his need for attention. He will keep saying the opposite of what you say just to get attention.
Why don't you people realize this?
If this thread would be closed he would find another high traffic thread about a much talked about subject. He will read it and then start posting in a way that will make a lot of people reply to him. This can be a forum about candy, seals or trees. He doesn't care. He is obsessed with getting attention and you are giving it to him.
Actually he's a paid troll. He's paid to be here. As I'm sure there are others here as well... starting to think mmitech is a paid troll too, the way he blathers on and on ad nauseum... Well unlike most of idiots who talk about me being a troll, I actually owned Bitcoin and I actually made good profits and that was achieved by using so commonsense and objectivity. I am not a Bitcoin die hard cultist and if Bitcoin would crash down and burn that wouldn't change my life style allot... I have a profession that I can start using again anytime, I was(am) a successful engineer even before I know about Bitcoin. You're really going to come on a pro-bitcoin forum, drag out 4 years old, tired counter-arguments about how Bitcoin is doomed to fail and here are the valid reasons, pat yourself on the back and tell everyone else they lack the objective thinking of your brilliant mind?? That sir, is the purest definition of TROLL that I can think of. ALL HAIL THE BRILLIANCE OF MMITECH! you are now just being a fucking moron, if those issues wont be fixed Bitcoin is not going to survive 20 years and neither will self distract in case of mass adoption..... these were my exact words, so please stop twisting them, period. |
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Two more:
9- The average wait time for 1 confirmation is about 10 minutes; and, in a significant fraction of cases, can be 30 minutes or more. That is too much even for internet payments, and is unacceptable for shopping at brick-and-mortar stores. (In contrast, verification and payment with a chip-enabled credit card, which is the standard here in Brazil, takes less than 1 minute.)
10- There is no way to correct mistakes (like sending bitcoins to the wrong address) or to recover stolen coins.
There is also the question of security against theft, but I am tired of arguing the obvious there...
As to 9: Why do you spew this garbage? You know damn well that the first confirmation is instant. The average wait time for the first confirmation is less then 1 second. This instant confirmation is checked by 1000's of computers verifying that the transaction is valid. An invalid transaction will not be propagated by the nodes. This instant confirmation is much better then the chip card because the chip card transaction can be reversed for 30 days. Even bank transfers can be reversed within 14 days with no hassles and up to 30 days. There is a reason that large sales in the real world use 30 day escrows, ie buying a house. With bitcoin you would get the same 30 day escrow safety within an hour. Holy fuck....are you kidding ? a first confirmation is when your Transaction is included into a block, a block needs to be solved first, and incoming unconfirmed transaction is one thing and a confirmed transaction is another thing. I cant believe you just said that. |
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