Meh, closed my long position at 644 on plus500.
Enough for today.
You're timing could be bad, we might break $650 today. I know.. But I have been trading before on "timing" and "speculating". For now it's working out for me trading whilst there is a pump.. and after that a small dump. Aslong as I hit my goal of $400 a day im happy! To make $400 daily on a price swing of $10/btc per day, you'd have to be playing with what, like 40 btc on the market? If you true, you are really brave. I couldn't risk trading that much.
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Meh, closed my long position at 644 on plus500.
Enough for today.
You're timing could be bad, we might break $650 today.
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In 10years, a middle class and even low middle class chinese will live like a King in holidays in the States
They already are. You should see the Chinese students at a local University in my neck of the woods. It's a fairly prestigious University, and costs a pretty penny to attend. The tuition has gone up astronomically in the last 15 years. Even as recently as 6 years ago there were very few non-Caucasians and minorities on campus. Now it's completely taking over by rich Chinese and Korean kids, driving around in their (paid for) Mercedes, Lexus, and BMWs. The campus is now unrecognizable, as Caucasians and all the other groups are now the minority there. You'd think it was a school just for Asians. The local high-end car dealerships say that they sell about 80% of their cars now to the Asian kids attending this University, and have even started to market directly to them.
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Venture Capitalist Tim Draper? The VC that has invested in over 1000 private companies since 1985 (Skype, Hotmail, Tesla, Baidu, etc.)? But isn't this guy really just a lowly, opportunistic day trader who's going to dump all of his 30K bitcoins on the exchanges the first chance he gets, tanking the current price??? At least that's what all the really smart bitcoiners were telling everyone last week??? I don't understand what's going on???
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Looking like a clever LTC bear trap to me.
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Looks like someone fat fingered something. Or is just stupid.
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They just transferred the entire amount, 29,656.51306529 BTC: https://blockchain.info/tx/9e95c3c3c96f57527cdc649550bf8e92892f7651f718d846033798aee333b0c3So either: 1) They are just moving them in order to get ready to pay the winners 2) They just paid the winner, one entity bought them all. Popcorn time. Let's see what happens next. Notice they kept a small amount of change, 2.28533471 BTC. from all the "donations" people have been sending them back for themselves. One entity. It's done. I hope it is also just one person, not a company. That would be awesome.
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Just use this app to play with some numbers: http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.htmlAny way you slice it, bitcoin rising to many thousands of dollars per coin is a no brainer. Even tens of thousands is not at all out of realm of possibility. It's not a matter of if, it is just a matter of when (think a few years, not decades).
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Orthogonal? Facebook wants money for things, like promoting pages, and there are a lot of people that make use of this.
OK, hadn't considered that aspect of Facebook but that's not general public. Not sure what effect. Just to add to the Facebook discussion, FB has around 1.3B (yes, that's Billion) active users per month. Many are teens and adolescents, but remember that these teens and adolescents grow up and become adults, get jobs, have/make money, etc. And their parents and grandparents are on FB now, as well as their friends and co-workers. Now just imagine seamless bitcoin integration with all that, when sending someone bitcoin is as simple as 1-2 clicks in their FB smartphone or tablet app. And tipping someone btc in Bits instead of just a "Like" (or maybe integrated with the Like function). Also, Merchants are already using the Facebook platform to advertise/market to their consumers. This is where FB makes their billions in revenue. The next logical step is shopping cart and payment integration. This could be game changing.
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Great insight, but you're talking years there... Bitcoin looses 40% in a few days...
....and gains it back a few days or weeks later. It can also gain 500-600% in one month. It also averages 8x-10x value year-over-year end. What else you got smart ass?
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holders have lost much of their wealth.
Not those who bought for less $100, let alone the early birds who paid pennies. Perhaps you misunderstand holding. It means not selling. Until you sell your coins, they are worth exactly what you paid for them, nothing more, nothing less. Only those stupid enough to sell for less than they paid have lost any wealth. Agree. But holding into bitcoin should be looked at a method of preserving wealth. What wealth do you preserve when it drops 30%? From 2002-2007 - The dollar fell 40% in value as the U.S. debt grew 60%. In 2009, the dollar fell 20% thanks to debt fears. How much lower is today's dollar value? In 1913 you could buy as much with a dollar as you can with $23.63 in 2014, more than 100 years later. By 1920, the dollar had lost about half its value, and was worth $11.48 in today's value. Deflation (the opposite of inflation) during the Great Depression of 1929 increased the value of the dollar to $13.43. By 1940, the dollar was worth even more -- it could buy as much as $16.40 could today. By 1950, the dollar's value had dropped even lower than before the Depression. It was worth only $9.53. It has fallen ever since: 1960 = $7.76 1970 = $5.92 1980 = $2.79 1990 = $1.76 2000 = $1.33 2010 - $1.05.
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OP, I'll give you an even simpler explanation. Maybe the simplest one of all. It's called an auction. An auction is an event where bidders try to outbid each other in order to win something, as opposed to underbid each other. auc·tion ˈôkSHən/ noun noun: auction; plural noun: auctions 1. a public sale in which goods or property are sold to the highest bidder.
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Well since September 2013 to last week, while I listened for months to retarded day traders talk about losing more money on the swings than winning and pretty much ending up with the same amount of coins or less than what they had back in September, I've quietly been accumulating like a mofo. I've increased my holdings 4x since Sept. 2013. What have they done in that same amount of time? Nothing but burn their earnings, if any were made at all.
So buy on the dips and hold, the only way to fly. Anytime you have the urge to sell in order to buy some stupid thing, go back and read forum threads from 2 years ago. There were guys cashing out 1000s of coins just to purchase things like computer parts, etc. And patting themselves on the back for how "smart" they were for making 1.5x their money. Now they are kicking themselves silly for not holding.
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I like how NewEgg announces bitcoin acceptance and the price gets a rise, but when Dish and Expedia do the same the price crashes.
Friggin' nerds.
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someone's got to spend some coins on Newegg
Didn't buy there in ages. Happy they take btc now, but... are they still a good place to buy hardware? Still pretty good though not as hungry as they once were and they charge the tax in my state. They have also started doing that whole "marketplace" nonsense that everyone seems to be doing these days. Two years ago I custom built a small media center computer with parts I sourced completely from NewEgg. They had great selection and prices compared to my local computer stores.
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keeping the bitcoins for B2B transactions ding, ding ... these will be the winners. do you guys know if there is the infrastructure there for B2B payments? as far as i know, all payment processors dont allow payments to be taken as btc and held as btc instead of converting to usd. Bitcoin will do for the B2B Financial Services industry what SOAP/XML and Web Services did for the B2B E-Commerce and B2C industries.
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The trendline growth chart hanging on my wall says we should be at $10K/btc minimum by mid-October 2015.
Growth is not a constant, ever increasing thing. Based on this, I guess it'll hit 1 trillion per btc at some point also? Let's come back in Oct. 2015 and revisit this comment, shall we? I'll PM you.
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The trendline growth chart hanging on my wall says we should be at $10K/btc minimum by mid-October 2015.
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Yay for NewEgg! Now watch the price crash.
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So far China has been like "Meh".
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