Why would people collect old coins?
Artistic value, melt value, historical or cultural value, and/or investment value. Bitcoin is the first decentralized crypto currency.
And? Being first doesn't necessarily translate into collector value. Collector markets are highly dependent on buyers within that market. No buyers means no collector value. |
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are you unable to tell the difference among different things? your analysis of comparing it to things that it is not makes little sense.
Comparing btc to flooz makes as much sense as comparing an electronic cryptocurrency to physical coins with actual numismatic value, if not more. How much is it to be in your bear team?
People around here really need to loose this "us vs them" mentality. There is no "team", and I am not "against" anybody, I simply talk about where I believe the market is going....nothing more, nothing less. |
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Besides, even if Bitcoin crashes completely, won't it still have a collectors value a 1000 years from now being the oldest crypto currency in the same way people collect old coins?
Why would it? No one collects beenz or flooz or any other defunct internet currency. |
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Sure it doesn't...you just keep holding that bag all the way down, buddy.
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In your dreams perhaps.  People were saying that about double digits less than a week ago. They also said we'd never see 200, 150, 120, 100, etc, etc again. Believing the hype machine around here is a good way to go broke. |
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I'm waiting for Single Digits.
It'll happen soon enough. |
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Why bitcoin is so unstable. 32-2-265-50-165-79 ... next number are 300(bottom),1500(bottom),7500(bottom),40000(bottom),200000(bottom)
Bitcoin is unstable because of rampant speculation driven by media hype. I really hope you don't actually believe what you just typed, there is no reason to think those numbers hold any validity. |
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I wrote this a couple of time (I have to spam again). There are 7,000,000,000 people on the earth and only 11,000,00 btc now. It is impossible than 1% (70,000,000 people) can have 1 btc (because there is not enough Bitcoins)
This assumes that BTC will become the defacto world currency. That is an insanely huge assumption with no evidence to support it. Bitcoin will be worth more than $300,000 USD or crash to ZERO (no other choices)
Another big assumption. BTC could just as easily keep booming and busting like it is now, or stagnate around any given price. |
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Or simply that bitcoin is different than any other speculative asset?
This is exactly what people here actually believe. Just a month ago, every other thread was talking about bitcoin being the "new paradigm" (yes, people used those exact words), and how bitcoin was different from every other speculative tool/investment. |
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The psychological difference between owning 1 of something and owning 0.1 of something is the barrier.
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Weird, I've never been able to buy fractional stock.
But a higher price is NOT a barrier to entry for Bitcoin.
Discount brokers, I use Sharebuilder. Of course it is. Price always matters and will always have a psychological effect on buyers. |
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Stock splits exist because you can't buy half a stock.
Yes, you can definitely buy fractional portions of stock. I own 27.3347 shares of GE, for example. Stock splits occur because the price gets too high for people to easily buy complete lots (even though stocks do not have to be bought this way). The higher price becomes a barrier to entry. |
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Dude, what the hell.
I apologize. I guess I'm getting a bit sensitive from the constant dogpiles and argument baiting around here. Applied to our case: there is nothing wrong with using a log chart. In fact, looking over the price development since 2010, it actually looks strongly like exponential growth took place. You only need to be cautious if you start drawing some long ass line in a log chart and expect it to continue into the next year... then you set yourself up for failure.
I can agree with this...however, I don't see why a log chart is necessary when I am just providing a snapshot of the market to illustrate the rapid growth and volatility that we have seen in the last couple of months (as I was earlier in the thread) . Also, there seems to be this pervasive thought around here that linear charts are useless, which I strongly disbelieve. Both have thier place depending on what you are looking at or trying to illustrate. |
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*tired meme*
Why dont you try making a point instead of recycling stupid memes? Or do you have one? Because I already did, to which you simply answered I already addressed why that isn't feasible.
I'm pretty sure I also have already addressed why almost everything should be looked with a log chart. Somewhere. Sometime. Look up three posts above that: I'll give you a clue why I didn't use one....exponential growth is unsustainable, and the barrier to entry is greater with a higher price, even if percentage of growth is the same (which is one reason you see stock splits).
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aapl chart
Yeah, apple is in a bubble too (one that is popping as we speak). *tired meme*
Why dont you try making a point instead of recycling stupid memes? Or do you have one? I love that quote. Some mathematical truisms, applied to a poorly understood model of reality. To use your own words, "I'll give you a clue": Exponential growth happens everywhere. You disagree? Go argue with the bacteria then. What you actually mean is: exponential growth at the same rate will eventually become unsustainable. Big difference. Whether the growth of btc price is already unsustainable or not is up for debate. The kneejerk answer "u can never haz exponential growth!" however is utterly pointless. No, trying to make an unrelated semantic argument (when you clearly understood the point being made) is pointless. |
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Come to the light little bear.
I will...as soon as the bubble pops and we are back at a reasonable valuation. Just like last time. |
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Because you are interested in the relative change.
$1 increase when you are at $1, that's a huge deal.
$1 increase when you are at $120 is nothing.
Are you telling me that when looking at stocks charts, you use a linear scale?
I already addressed why that isn't feasible, and yes, I do use linear charts with stocks. |
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Quick. Tell me exactly why a log chart would be used here?
Come on, don't be shy.
I'll give you a clue why I didn't use one....exponential growth is unsustainable, and the barrier to entry is greater with a higher price, even if percentage of growth is the same (which is one reason you see stock splits).
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Why would you think it's the same person buying and selling?
This. |
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There is absolutely nothing slow or steady about bitcoins price rise in the last 4 months.  [/img] |
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