|
If bitcoin is still around in 3 years, I think $10,000 is a bit low.
the real problem here is the chance that it may not be around in 3 years.
Invest and educate yourself accordingly.
:edit to add percentage: 80%
|
|
|
|
take it all with a grain of salt of course, but if the price keeps doing what historically it's been doing, then it's a pretty solid plan. I plan on taking my second divesting at the 5000+ range, perhaps 4 or 5 coins to get a new car... (I choose to consider the coins I sold above 1K as my "first divesting". I purposefully ignore all the coins I sold from 10 to 200 because those kind of mistakes just eat you up inside.  |
|
|
|
I have a feb 18 order batch 2 avalon, haven't touched the firmware since I added a 4th card. I think. running firmware 20130821 I'm going to be setting this up in a remote location (bye bye to my first ASIC,  ) and I was thinking of upgrading the firmware before I drop it off. so of course I came here, and then there seems to be different firmwares for each model and it's a little confusing. I was getting about 100 GH/s reported at btcguild I think I was running at about 330 Mhz Should I even bother upgrading firmware? I don't like to touch a nicely running setup, but it's going to a new home now and I'd like to just run it on auto and have it at least somewhat quiet. (I've been running at 100% fans for almost a year now and I know the new caretakers of my baby will not put up with that.) any suggestions? |
|
|
|
Why is this not going below 400 or worse ? Here we are sitting like a rock at 440, which was unthinkable back in january. Is there any genuine short-term bull case, besides rockets and slogans ? I'm a tired bear, been at it for 5 months now, and tbh im worn out. I want to close my shorts, but i've gotta play the market. I see no reason to buy before May 10, and/or whatever deadline comes after that. I'll be needing some Bull rehab after this is done.  The longest bear market was June-November 2011, some 163 days. The current downtrend is 151 days assuming it is still intact and did not bottom out at $339 which would be 132 days. So maybe the trend is as worn out as everyone watching it. Won't be obvious until a decisive breakout is seen which is a return to the $550-$600 area. Time and depth lengths from trends of the distant past are proving again and again to be a bad way to analyze events in the present or predict events in the future. agreed. you think this MIT thing is gonna flop as bad as auroracoin? http://venturebeat.com/2014/04/29/mit-is-about-to-become-the-worlds-first-bitcoin-economy/it will be interesting, bitcoin transactions are not that easy, and it would be funny if they all just cashed out for beers and eats at the local pub that accepts it (you know there will be at least one) It's what I would do, back when I was in school  :edit: come to think of it, it's a pretty ballsy experiment. Throw half a million dollars worth of internet money at a bunch of young kids and see what happens. |
|
|
|
if they sold 380,000 btc for 3m, that would be $12 each. - must be a portion, or Im missing out on some seriously 'cheap coins' Well it's unlikely that they will sell 380,000BTC for the full $173M they are worth. Someone will get cheap coins Bitcoins are fungible, so even if they don't get dumped on the market, other coins that would have otherwise gone to the purchasers of the seized coins will get dumped on the market. Mathematically it is irrelevant if the result is selling pressure or lack of buying pressure. There is a downward price effect on the market either way. +1 Same goes for 200,000 Gox BTCs to be liquidated. And US goverment has now more than 500,000 BTC ?!? 30+k from Silk Road, 130+ personal Ullbricht stash plus 385k from this new drug dealer? This. The amount of seized BTC that has to be auctioned and dumped on the market is so high... At least 400K (GOX+Silk+others), if not more, probably sold well under $250 for each coin, ready to be dumped on the market at any point. Truth is, even a relatively small 20K dump could totally crash BTC's value to $50/coin. I could literally wake up one day and see BTC's value drop 50%. This will kill BTC's long term value, seriously scary stuffbold emphasis mine I don't think that the redistribution of a paltry 400,000 coins will "kill" bitoin's long term value. just another bump in the road (edit - ok "paltry" was a bad choice of words, what I should have said is "the redistribution of coins from the people that want to sell to the people that want to buy will not "kill" bitcoin. In fact, it is a good thing.") |
|
|
|
The 30 min chart on Stamp is looking like a downward red staircase today...as much as I like cheap coins, I am anxious for a turnaround.
zoom out to the 6hr chart. To me it just looks like a series of lower highs and lower lows since January. And I see no signs of a turnaround any time soon. (not that bitcoin needs a reason). From that chart it looks to me like we would at least need to re-test the 330-340 range on stamp before seriously turning around. by the way, does anyone know the price that the Winklebros bought in at? *EDIT* I drew some lines  |
|
|
|
Sad to see what has happened to your mind, Jorge.
Indeed. Like the other day when I suggested that stealing bitcoins by address spoofing would be a problem unique to bitcoin. That's not how exchanges work. It's also about 1000x more complicated and risky and public than it needs to be to accomplish the supposed ends of this unworkable scheme.
There are many other ways to pay a bribe of course. But suppose that person A in Shangai needs to transfer 250'000 yuan (say = 100 BTC = 40'000 USD) to person B in Beijing without the payment being spotted by the police. Any scheme that requires complicity a third person is risky because he could be an informant or a blackmailer. Can he use bitcoin exchanges for that purpose, without leaving a trail? Transfers of bitcoins are visible on the blockchain, so A cannot just buy bitcoins on an exchange, withdraw them, and transfer them to B: the conversions of BTC from/to yuan would be in the exchange's deposit/withdraw logs, they would connect to the blockchain transfers to trace the path. But if there were a way to transfer the yuan from A to B while they are inside the exchange, then... Try to imagine a scenario where bitcoin is accepted world-wide, where you never need to go through an exchange into fiat. Then you understand the potential of bitcoin, and the danger it poses to the status quo. |
|
|
|
|
From reading your post it seems like you have a pretty good understanding of what bitcoin actually is, as well as some of the main threats.
I'm not one to give advice, and others more qualified have already laid down some good foundation, but while I was trying to think of an answer to your OP I started thinking about big-picture-bitcoin. Do not take this as advice, it is simply the rambling of someone that is too drunk to shut up.
<tinfoil hat warning - crazy mode engaged>
We are currently witnessing the beginning stages of a world wide currency war.
If I had to stake everything I have on predicting the winner, at this point, I still think gold is the odds-on favourite. This doesn't mean I think bitcoin is a bad bet, it actually has the best upside, plus the fact that a world where bitcoin is the reserve currency and the main facilitator of international trade, there is very little room for fraud.
The current paper currency is outright, straight-to-your-face fraud, by design. Gold is better, but still leads to fraud in the difficulty of transportation and storage and the trust issues (will Germany ever get its gold back?)
bitcoin is of course the best option, but this by no means that it will win the war.
</crazy mode>
Anyways, welcome to bitcointalk, and just remember when you're thinking this -> "I dont wanna miss it next time when it goes from $500 to $1500..." -- there is always a chance that this will never happen.
|
|
|
|
I must agree with the OP. As the price continues to drop, I continue to bail the F out... of fiat!  |
|
|
|
Secure and reliable. Color = Green = You know what that means on the candlestick Charts right?? Oh Yeah.
Lucky day: Friday. Tomorrow is the first Friday in the Age of Taurus.
KARHU is going to kick your arse you infidelic pagan scum! KARHU will be eventually destroyed when PANTHERA the bull becomes enraged. proof -> https://www.youtube.com/watch?v=mUtIoN2xLqk |
|
|
|
Someones putting up a wall on Stamp, everyone is buying in front of it and then its getting pulled. Like three times now.
No there is someone putting limit orders well above the lowest selling price. The walls eats all the lowest asks until it has been filled. And they are instantly removing them after placing them and the price running up abit in front. Its very weird. almost seems like someone is trying to test the tendencies of the other bots... |
|
|
|
How low do you guys think stamp would follow Huobi? I would speculate after about 350 people might stop.
hell, virtex is still trading at 525-500.. and I'm thinking about cancelling a bid at 300 to put one in at 505..... scary |
|
|
|
are we gonna get another drop? 2 nights in a row!? sweeeeeet.  |
|
|
|
The only people buying now are people who sold higher. Look at the volume. Volume tells the story. We are very likely just at a consolidation stage on a trip back down. Don't get caught on the wrong side of the is/ought divide. China matters until it doesn't. Just because prices are stupid low doesn't mean they can't get stupider lower. Markets can stay irrational longer than you can stay solvent if you don't manage your capital wisely.
There are silver linings. The good news is that the FBI will probably not get much for their coins. When the Chinese people will discover in a year or two from now how badly the PBoC and their government screwed them out of a leadership roll in crypto, it may do more to foment revolution than Tienanmen Square.
Be smart. Be patient, and be in a position to scoop up bargains should they materialize.
You are basically advocating the following: * Some guy on the street is selling a $100 note (guaranteed to be non-counterfeit) for $10 * You tell your friend who wants to buy: No don't buy it. He might sell it for $5 if we wait a little bit! And then if the friend buys it anyway and the man is indeed selling the $100 bill for $5 the next day you mock him. It's not really relevant price can go lower (unless you use margin) Interesting point! I don't know about that, price is still relevant. he coulda bought twice as much if he had waited a day like his friend said. The price might have gone the other way and if he waited he could have only bought half as much... I think the price is always somewhat relevant. |
|
|
|
|
here's a question for you guys.
if china had never even let those exchanges start up in the first place, would the price be higher today? or lower?
|
|
|
|
here's a question, why doesn't this get more play around here? http://www.cnet.com/news/mt-gox-liquidation-given-go-ahead-by-tokyo-court/this effectively means that any and all assets of value will be sold to make a pile of money for the lawyers and accountants and all them, I would see this as cheap bitcoin flooding the market, but I have sometimes been know to see things which are not there. Not that it is much of my business, but... ...why is there no discussion anywhere that the BTC given to Mt.Gox for safekeeping are not that company's assets, nor loans to it? They belong to the customers as customer property (or customer funds). In liquidation, the customer property is returned to its owner and not commingled with company assets nor used to pay its lawyers. If the guardian has failed with safekeeping so that a part of the property is stolen, the loss should be prorated, especially if there is no mention in TOS. Actually it is my business (point: III). I decided to mention this once in every 500 posts. I agree with your interpretation of how the remaining assets of gox should be handled. Unfortunately for the holders, my *limited* understanding of japan's bankruptcy protocols, they will first liquidate all holdings into a common asset (most likely japanese yen) and then distribute from there... It may take many years. Such is the pace of the legacy system. Just an example how regulation only makes things worse. this fight is only starting... |
|
|
|
here's a question, why doesn't this get more play around here? http://www.cnet.com/news/mt-gox-liquidation-given-go-ahead-by-tokyo-court/this effectively means that any and all assets of value will be sold to make a pile of money for the lawyers and accountants and all them, I would see this as cheap bitcoin flooding the market, but I have sometimes been know to see things which are not there. |
|
|
|
And the idiots on stamp just keep on dumping. They have no clue what's going on but dump they must.
hey, now, in their defense... when you gotta dump, you gotta dump. |
|
|
|
F***ing bloodbath.
woot! blood on the streets is what we're looking for right? this is looking gorgeous on every exchange except cavirtex stupid Adam convinced all those silly Canadians to HODL! Damn you Adam!!! jk |
|
|
|
|
Show Posts
