There are insane dumps happening, some in Poloniex chatbox posted a blockchain address with 130K Bitcoins heading what appeared to be an exchange address...
+ ignore |
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If there were a mathematical formula to know the future price then we would all be rich.
If we all knew the future price no one would sell. A self-fulfilling un-prophecy, if you will. |
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Even knowing all the problems Bitcoin is facing and he is going to face, and even knowing it's very difficult for common folk to own Bitcoin.. he's not just being stubborn. He's losing the little credibility he has. He should just admit his mistake and admit that nothing like Bitcoin has appeared till today which would question Economy's theories.
I think some of these economists and Finance people are kind of like Butthurt because they were not the ones coming up with Bitcoin, solving some economic and finance problems.
So they are acting like "Know it all" people that dismiss Bitcoin as Nerd's money. Kind of like those who dismissed the internet, MP3, P2P, Facebook, you name it.
Hah, While I think bitcoin is innovative, I won't compare it to facebook or other social networking sites. Facebook is over value and doesn't solve any problems that can't be solved using other methods. Facebook is an annoying reality to me. Many people want it to go away. But you can't argue with success. It offers something million of people desire. That's how it compares to bitcoin. |
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Merchant adoption and getting people to USE the coin is fundamentally the pillar of BTC's success. If no one gives a fuck about actually buying things with it I don't see a bright future. The analogy with email is still correct but you are forgeting using email was free, with Bitcoin you have to put your fiat into it.
Buying bitcoin is not the only way to participate, and is not even a secondary function of any currency. In the case of bitcoin, investments happen to support price stability and increase adoption. However, the role that investing and trading play in bitcoin's success should diminish significantly over time. Accepting payment in bitcoin is free, and its probably the biggest reason bitcoin is so great and a game-changer. This is precisely the reason there is a steady flow of new companies accepting bitcoin. The barrier to entry is very low. There are reports of some employees now receiving salary in bitcoin. This could become the norm in a few years as bitcoin becomes what many foresee: a true currency of choice. The more saturation we see in the bitcoin space, the less price volatility we will see, (in terms of CPI, NOT exchanged against FIAT) especially if people are willing to transact mainly in btc. We should see the day when people commonly exchange btc to government fiat to pay taxes. If bitcoin acquires enough momentum to crush dominant fiat currencies, governments may be forced to officially accept bitcoin. Whatever happens, it is fascinating experiment to watch. |
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You don't lose until you sell.
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In that case, you'll be interested in my 100% guaranteed Toilet Fund. Here's how it works: 1. Convert the money to be invested into cash. 2. Deposit it into the toilet. 3. Flush. 4. ? ? ? 5. Profit. You will not lose a penny, as long as you remember not to sell. Welcome to my ignore list. |
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We hovered around 400 for a few days then shot up to 450 on 9.23.2014 and now we are back to 400 within a couple days. If that big injection had not happened on 9.23 would we be around 350 or even lower?
I know this is impossible to say for sure but I want perspective from those who try to quantify/model supply and demands affect on price.
Superstition is unlikely to be unhelpful for price analysis. If you hadn't stepped over that crack on the sidewalk, would bitcoin have survived?  |
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Nobody wants to jump on our sinking ship  You can call it that if you want.. I won't. I wouldn't mind if Schiff doesn't mention bitcoin - he was staunchly anti bitcoin all along. He had made one or two concessions recently towards bitcoin but he is still a Goldbug pure and simple. The takeaway point here is that QE and the dollar are fucked. At least he sees that! Bitcoin is very dangerous to trade. Its sensible for Schiff not to recommend it. Smart money figures it out on its own anyway. |
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The chance of another cryptocurrency replacing bitcoin is negligible. By saying it's negligible, I mean it won't happen. The chances are pretty much zero at this point. It doesn't matter if someone comes out with something better. This happens all the time with all kinds of products. Inferior products that get to market first and get a huge amount of momentum will run the better, smaller products out of business.
Nope Bitcoin only has 500,000 to 2 million users. While the internet back in 1989 had more users. Dot.com in the late 1990s had around 130 million. Paypal today has around 150 million users. Bitcoin is small fish (not even that it's more like plankton) and doesn't have any holding power and doesn't seem to be expanding its' userbase anymore, despite the good concept. IMHO - the future is the 2.0 crypto currencies with strong communities and good distribution. The first one to gain any momentum (it's only a matter of time) will shoot past Bitcoin's small userbase. if you want to compare bitcoin with the internet then we are at 1994/95 right now - the internet had around 5 million users at that time. the big bang is still to come I think its more realistic to compare internet DOMAIN growth data:  Internet users statistic is not as meaningful in practical terms. They typically aren't contributing anything, especially in the early days of the WWW. Domains is a better real world metric to see how the business side of things is growing. It takes capital to launch and develop a domain. As does owning bitcoin. Let's also look at number of bitcoin transactions per day. That is also a more useful statistic than number of users: https://blockchain.info/charts/n-transactions?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=Looks healthy to me. |
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Doesn't matter what the charts say.... we are going down until something significant happens
That's just like the perma-bull that says its going up no matter what. |
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"Pre Orders" an old latin phrase meaning "Free Money".
Anyone buying mining gear via pre-order is a complete fucking idiot. Or as I like to say, BFL-enablers.
Gluttons for punishment? |
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Bitcoin price recently has tried more than three times to break out but all failed, this showing the general market think bitcoin is over-price & over-value & should go down
If we don't go up soon then some big dumps can be expected, just like the last long sideways which crashed after failed to touch $620
This time bitcoin is going to flash crash down to $1xx - $2xx, however back up again is possible in the long term (may be 2016-2017)
Why don't you go ahead and quote yourself in every current ongoing thread? It seems like a sales pitch, you're selling us something. Something smelly. |
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He will be remembered. I offer my prayer for peace and rest to his family at this sad time.
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My response to this is that, unlike Bitcoin, Tulips had no value and no utility.
You can plant a tulip bulb, get a flower, and each bulb splits into two bulbs every year. That's some sort of [value exponential inflation, even if it's not a huge amount of negative value. |
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But didn't someone important, I think Anderson, say you should expect that bitcoin addresses could be tracked to individuals? I think that of bitcoin gains any sort of government "recognition" they will want to eventually know who controls which address. I guess the battle will begin then.
Sure, through plain old detective work. Matching transactions with online identities, and then to real world identities. That's if people are careless enough to leave a trail. Bitcoin can be as anonymous as an individual wishes to be. |
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Bitcoin ATMs are superlative. They are for people that can't use smartphones. Those idiots in that video didn't seem sober or smart enough to use either.
Superfluous? EDIT: Right, superlative works. Excessive. Not the most common meaning. |
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This is the most pointless thread ever.
Cryptopaths is an expert troll. |
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Im a socialist now because im broke, if BTC goes to 10K and im a millonaire I will be a "Libertarianist" as the corrupted and selfish human being I am (and everyone else supporting libertarianism here not admiting this fact).
This is just wrong. Wealthy people create business and jobs. Look around you, how do you think the economy works? Another clueless sheep parroting another pro-capitalism myth. Your use of large fonts and bright colors: A sure sign that you've mostly only read about this stuff and have little to no real life experience pertaining to what you're talking about. |
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Im a socialist now because im broke, if BTC goes to 10K and im a millonaire I will be a "Libertarianist" as the corrupted and selfish human being I am (and everyone else supporting libertarianism here not admiting this fact).
This is just wrong. Wealthy people create business and jobs. Look around you, how do you think the economy works? The more wealthy people there are, the better off everyone is. Wages go up, tax revenue goes up, more jobs are created. The benefits of wealthy individuals is irreplaceable. Governments cannot replicate this ecosystem. |
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well I've always been libertarian, why the heck were you a socialist?!
Because compassion is the noblest and highest form of wisdom. As I mentioned earlier in the thread, Homo Sapiens are neuro-biologically wired for compassion. Related: http://www.democracyjournal.org/16/6740.php?page=allThis is Sao Paulo, Brazil. It's a little glimpse of your "Libertarian Utopia" (read: wage-slave dystopia), capitalists: Those slums are what happens when capitalism (limited government, low taxation, entrepreneurship, and free markets) is repressed, big corporate lobbyists control the politicians, and government programs fail (inevitably). If we're wired for compassion, why do we kill each other non-stop for the last 3000 years of recorded history? |
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