|
1022
|
Economy / Speculation / Re: BitPay laid off nine employees yesterday.
|
on: January 11, 2015, 09:34:22 PM
|
|
Didn't Bitpay use a chunk of their VC investment to buy BTC? What price was that at? They also hold (speculate) with BTC processed for merchant payments (just watch the addresses you send to....), so I could see them hurting from this price action.
|
|
|
|
|
1033
|
Economy / Speculation / Re: POLL: Do you still expect a big rally in the next 60 days?
|
on: September 01, 2014, 09:09:50 PM
|
At the end of year I'm expecting Hashrate at 700 000+ Thash/s. so .... bitcoin price will be at least $1500/BTC
Do you base this purely on the expected hash rate? Do you have any charts/historic trends to back that up? I think there is more to consider here than simply the hash rate, to be honest. Cost of HW $4000[USD]/3[Thash/s] and electricity $500-$900 / BTC will drive price This is an argument that I never bought, personally. How does the cost of hardware and electricity drive price? Why would these costs produce demand (and new demand, at that)...? Maybe miners are just a bad investment right now.  If somebody invest into HW then it is demand. if some thinks it is bad investment then it does not confirm it is. There are people who can think few years ahead. But there has to be follow-through on the BTC/USD side of the equation as well. It's sort of like when a holder leverages long -- that is demand for BTC, but it is not confirmation that the market agrees with his already biased position. I suppose time will tell if investing in mining is a good idea right now. |
|
|
|
|
1034
|
Economy / Economics / Re: Why we give respect to Rich and no-respect to poor?
|
on: September 01, 2014, 08:47:36 PM
|
Being rich = inheriting, scamming, etc.
This could not be further from the truth. You become rich by working hard I'd like some of what you're smoking.  Putting aside the question of where their capital originated from.... the very idea that wealth is "inherited" is at odds with the idea of "working hard." Some people are just born into money, and they are lazy as hell. |
|
|
|
|
1035
|
Economy / Speculation / Re: POLL: Do you still expect a big rally in the next 60 days?
|
on: September 01, 2014, 08:43:10 PM
|
At the end of year I'm expecting Hashrate at 700 000+ Thash/s. so .... bitcoin price will be at least $1500/BTC
Do you base this purely on the expected hash rate? Do you have any charts/historic trends to back that up? I think there is more to consider here than simply the hash rate, to be honest. |
|
|
|
|
1036
|
Economy / Trading Discussion / Re: Bank account suspended for buying bitcoins?
|
on: September 01, 2014, 08:23:03 PM
|
|
I had the same problems with regular checks and wires in from online poker sites a couple years ago. I had a bank account closed. From what I can tell, having lots of movement in/out of your bank account -- as would be the case if one were "trading" on Coinbase, for instance -- you may have problems. The reality is that banks are fickle, and sometimes you just have bad luck with them. Pick up and move on.
|
|
|
|
|
1037
|
Economy / Economics / Re: Why are the exchanges so intertwined?
|
on: September 01, 2014, 08:19:03 PM
|
Users of exchanges will anticipate arbitrage. So if price changes a lot on one exchange, traders on other exchanges will move in that direction.
This is my position -- I don't think it's really arbitrage that does it in most cases. As fast as bitcoin moves, it's still not fast enough. So traders are filling the gap. More than anything, western exchanges follow moves on Chinese exchanges, expecting them to be followed across the market. |
|
|
|
|
1038
|
Other / Beginners & Help / Re: Thoughts about Bitcoin as a small country currency
|
on: September 01, 2014, 08:16:20 PM
|
Bitcoin is not really a currency. It's even more volatile that most FIAT currencies.
It is a currency and it's only volatile when you peg it to other currencies. No, it is also volatile when measured as the cost to buy things, for almost all merchants. Yes, it's not just when pegging it "to other currencies" but to purchasing power. That's what is important here. In that light, the dollar is relatively stable. Bitcoin is extremely volatile. |
|
|
|
|
1039
|
Economy / Speculation / Re: Professor Bitcorn is right, BTC to $10
|
on: September 01, 2014, 08:08:42 PM
|
We need to get below ten dollars to shake out all the weak hands. Only then can a true, sustainable growth phase begin.
If it will go below 10$ than will mean that bitcoin failed and will be replaced by something else. I'm not sure I follow. The success or failure of the protocol isn't really tied to the price. Sure, if we go back to single digits, it might be an indication that mainstream adoption is unlikely. But if mainstream adoption isn't achieved, that means bitcoin failed? |
|
|
|
|
1040
|
Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
|
on: September 01, 2014, 06:58:24 PM
|
The infamous DanV of Tradingview recently drew a Bitfinex chart where he predicted $100~ ... I think that is his lowest prediction yet. It's not Prof. Bitcorn level apocalypse, but it's getting there. Too bad I didn't save the link....
I am pretty bearish myself at the moment, but $100 sounds like total bullshit. You gotta take into account this: "who is gonna SELL his BTCs for 300$ - $200 - 100$"? Will there still be more people selling BTC for that kinda cheap price than people wanting to buy at that price?I highly doubt it. Well, I suppose in 2011 it went from $32 to $2. I know, I know, different time, different fundamentals. But while things are looking good for the fundamentals of BTC infrastructure (start-ups, merchants, funds), short/mid term price may be different entirely. Hypothetical: How do you think people will feel if we break below $260s? That never happened before (breaking below previous ATH). If people start thinking "bitcoin is dead" for real, you might be surprised what they are willing to sell for. I see what you mean, not saying it cannot happen (anything can happen with BTC ) i just have my serious doubts. Do you see what you did there, though? You straight up assumed that $340 was already the bottom. Why? We're still in steep downtrends on the daily and weekly charts. So the point still stands, IMO. |
|
|
|
|
Show Posts
