BTC is an investment with HUGE systemic risk. Gold is an investment which has proven itself as a store of value for the entire duration of human civilisation. BTC has bottomed out (for now) in 2015 for sure. Gold may have just bottomed out, or may still be bottoming out. Whatever happens, providing you are thinking in terms of a 5-10 year investment, now should prove to be a tremendous time to buy gold. Down almost 50% on it's 2011 high! In terms of growth of profits, you are likely to see far more potential yield in the immediate future with Bitcoin, but if you fail to time your exit well, also far more potential for evaporation of profits. I believe we are entering the final wave of the 'fear cycle'. Expect massive market corrections in the next 18 months. Usually under these circumstances, hard assets or safe haven assets do very well, as the fear, uncertainty, and doubt, drive people away from investments with counter party risk, and into things which are 'solid'. If the market can be tricked into believing that Bitcoin is a 'hard asset', then we may see blistering gains in Bitcoin compared to gold, but the core difference will always remain, that gold is real, it is formed within a very narrow band of time in the final moments before a star goes supernova, hence it's rarity across the entire cosmos. Bitcoin on the otherhand, is vapour, and one day, it will be revealed to be nothing more than that, whethet that is 5 years, or 50 years from now. Gold is an insurance policy, BTC is about as highly speculative an asset as it gets. Do what makes you feel good/comfortable with yourself. Gold has been the best form of money for thousands of years but crypto can do some things better than gold, eg easier to store, easier to divide, easier to send. Market doesn't care that elements are created in the sun, only cares which is most efficient at filling the need for money. But yes crypto is still beta and in a huge experimental growth phase therefore much more speculative. |
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I'd favour bitcoin, I switched some of the yellow metal for more bitcoin when bitcoin was somewhere in the $200's. I will get more gold when bitcoin is much higher than now. I think it is a good idea to switch some for gold but not yet. This bitcoin bull has hardly started.
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The german and chinese stock markets crashed. Is the bit oin price going up because of that happening? I'm unexperienced in stock markets and economics.
Theres no one reason but that might be a factor. Others off the top of my head include countries devaluing their currencies, banks enforcing capital controls. Normal market forces of a disruptive new technology being adopted. Return to fair price after being oversold last year. Bitcoin supply due to be cut in half sometime later this year. .. |
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Reading over threads on this forum I've learned quite a bit about mining and the community in general.
But the reason I bought bitcoin has nothing to do with the former or the latter.
You see I'm one of a small percentage in the USA who reads/listens to news outside the USA. Most people I speak to have no clue what is happening in Europe, how the death of Petro-dollar is meaningful, ZIRP influenced stock market Bulls, overinflated housing valuations, trillions in student loan debt, Vehicle lending bubble, crashed Baltic dry index, emerging economy bond debts, low income per household, oil hedge covering by the Fed and Treasury, COMEX price rigging, overvalued dollar, FATCA, TPP, on and on.
Pretty much I've sounded like a crazy person to most but that's OK.
Why am I writing this?
Well its because people seem to have a brain around here so if anyone wants to hear some very interesting info Jim Willie (goldenjackass.com) gives some animated, resourceful and so far accurate underground info regarding government level corruption and how it will crash the dollar which chases wealth into other Venue's like gold, silver, BTC.
You see BTC isn't going up just because its the nextgen of wealth.
It isn't just going up just because working BTC commerce and investment platforms have surfaced (yet to fully mature).
BTC is also going up because people like myself don't want to play Yosemite Sam guarding home based Bullion, nor do we wish to gamble with TSA screening for metals. Bitcoin is perfect for its time and the incoming wealth is just beginning.
Well done and enjoy the ride (don't sell).
Btw BTC market cap of 7billion is nothing in grand scheme.
With Commerce support maturing I'm seeing 3-5k per coin (or per 100,000,000 Satoshi).
If retirement wealth comes around we are talking above a market cap of 1trillion.
This is a worldwide platform, very private, and very secure.
Nice one. Doubt you'll ever regret it. Crypto is not going to go away now, genie is out the bottle. I'm a big fan of the jackass, dont remember if he ever talked about bitcoin though. |
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Aside from bitcoin the only other crypto I'm currently holding is Dash. I personally really like the innovation in Dash, also very interested in Etherium. But there are just too many alts to be able to know about them all. Dash is exciting because it incentives people to run full nodes and has a budget and governance system so developement can be voted on and funded through the protocol itself. Currently the number of full nodes on the DASH network is growing and set to overtake bitcoin which is falling. In bitcoin a big problem is why run a full node?
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Based on previous times bitcoin hit new all time highs many alts also saw their own all time highs too. As OP states many have bigger % gains. It seems they tend to lag behind bitcoin when the bull run is getting going but then eventually they spike to their own peaks earlier than bitcoin has its own bubble blow off. Won't surprise me to see this happen again.
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Heres another projection   |
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Fasten your seat belts. This crash is going to be interesting. Make sure you have nothing invested that you can't lose.
TA shows this could be a new low.
I think kwuckduck actually nailed it this time. Obviously he must have meant the stock markets crash and worst start to a new year since the great depression. |
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History repeats  |
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Similar to my earlier post, might as well look at the recent litecoin halving too Litecoin had its first halving on 25 August 2015 https://www.coingecko.com/buzz/litecoin-first-block-reward-halvingMarked here with this orange vertical line on a chart of litecoin versus US$  This is quite different to the first bitcoin halving but in both cases there has been what looks like a large speculative bubble followed by higher price afterwards. In Litecoin's halving the bubble peaked before the actual halving date and was not enough to approach all time highs in litecoin. Although litecoin normally has its own all time highs roughly in sync with bitcoins movements, this halving occuring at a time when litecoin was already at a very depressed price and bitcoin is still well below its own all time high. But the essence of my idea remains that the halving may induce a bubble as part of the price discovery mechanism. |
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I'm not sure price has finished correcting yet, might still see another dip towards $400
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Maybe its priced in for the smart money who already knows about the halving but not for the speculators who hear about it late and jump in when price is already moving up? It then creates a snowball rolling getting bigger where more people jump on at the end just because they see huge gains, this is the bubble forming.
Now you've ruined it by letting everyone know!  Oops  |
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And if you are desperate to short, now is probably as good a time as any but I wouldnt think youll get fantastic return on it if it even works. I dont see it getting much below $400
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IMO going long is easy in a bull market and shorting is easy in a bear market. Bitcoin is in a bull
i also think so, the trend is bullish now, but apparently there are still some bears here and there that want to shift the trend again or they simply try to earn coins at every new range, in the run up... Christ sakes.. It aint about 'choosing sides'. It is about trying to position yourself on the right side.... I think Bitcoin is good for a $5 rise here....Lots of shorters will have lots of Stop Orders just slightly North from here, and 'they' are going to trigger them, and empty the Market Orders into thier own front running short positions. I didnt say you have to choose sides I said it works best once you identify the trend. Think of the trend as a river. In a bear market when you short the current is helping you. In a bull market when you go long the current is helping you. Figure out which way the river is flowing and let it help you. (and stop being abusive every time someone has a different opinion to you) |
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Someone offered me money to sell mine at one point
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IMO going long is easy in a bull market and shorting is easy in a bear market. Bitcoin is in a bull
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On my opening post I showed a rough projection of future price using some arrows. Note I included a kind of fake dead cat bounce. I think this is what this is we see now. Or put another way Bear trap. Price may drop further but not enough to satisfy bears and soon enough bull impulse will win. I doubt it will get far below $400. II could be wrong of course but my own money is where my mouth is and bitcoins I accumulated below $300 are not in danger now.
Meanwhile halving is drawing ever closer.
I think the price is quite stable now. It is difficult to accumulate below $300. Even if the price drop below $300, the volume will be thin. Ah maybe I wasnt clear. not waiting for price to drop below $300, I dont think theres much chance it goes below $400 in fact. I am thinking new speculative bubble is quite likely on the horizon. |
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Unreal. How many threads does kwuckduck need to say bitcoin is going down ?
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