Why do people still think we can make it past 1000 anytime soon?

[Zapffe]

Buffet once said - trading is process of redistributing wealth from least patient to most patient  

I like that statement for many reasons.

To the OP: If you agree with the fundamental improvement of bitcoin over our fiat systems it would be easy to see why its value and price is/will be over $1000/coin/

People who think that bitcoin can replace fiat are the ones who learn about finance from youtube videos.
To replace fiat, bitcoin supply should be fixed according to some practical everyday resource like oil, coal, corn etc. Only then it would have price stability. The pseudo-resource of fixed rate coin mining is a foolish way to control money. If bitcoin would become world currency, then unfair wealth distribution would increase tenfolds.

People who think that bitcoin should be fixed to some practical everyday resource are the ones who learn about bitcoin, economics, and finance from people who know little about any of the three.

People who can't understand the value of currencies price stability and security, are the ones who learn finance from youtube videos, and who think that schools are evil, because they aren't fun and easy like the youtube videos they prefer. The best "educational" videos are made by guys whose username is something like Bitcoin$$Playa and who can confirm that bitcoin is especially secure because of it's speculative value without an anchor. So, everyone should buy now to become Ze New w0rld l33tz.

Lol. What was your username pre-3/14/14?  I have a few guesses.

You are like bear troll 101. Straight out of the fud-to-bring-price-low while pump-to-get-price-high handbook.

Right now you love LTC. No coincidence that you arrived right before the LTC houbi buy the rumor sell the news pump and dump.

You'll be gone from here in another week or so. And will be forgotten. He'll, they probably already miss you over at the btc-e troll box.  

Meanwhile, for the rest of us, life goes on as normal.

My previous username got banned for disagreements with an certain individual. If you have been an active reader of this forum, then you can probably guess the answer with ease.
With investments, I mostly support the side that has more strength. When bulls have more strength, then I'm bullish, when bears, then bearish. I would so try to say things, that would make bitcoin look good, if I had any reality based support to do this. I'm not the kind of guy who goes bullish with the support of denial and empty hopes. Give me new bitcoin exchanges with decent volume in new geographical locations, and I'm as bullish as can be. But for the previous months, there haven't been a single strong reason, that would give me assurance of bitcoins strenght. And I'm not happy about it, because I would earn a lot more if bitcoin would be rising.
I just don't see that denial and building false hopes are a very effective methods to guide your investments. Sorry.

[windjc]

Buffet once said - trading is process of redistributing wealth from least patient to most patient  

I like that statement for many reasons.

To the OP: If you agree with the fundamental improvement of bitcoin over our fiat systems it would be easy to see why its value and price is/will be over $1000/coin/

People who think that bitcoin can replace fiat are the ones who learn about finance from youtube videos.
To replace fiat, bitcoin supply should be fixed according to some practical everyday resource like oil, coal, corn etc. Only then it would have price stability. The pseudo-resource of fixed rate coin mining is a foolish way to control money. If bitcoin would become world currency, then unfair wealth distribution would increase tenfolds.

People who think that bitcoin should be fixed to some practical everyday resource are the ones who learn about bitcoin, economics, and finance from people who know little about any of the three.

People who can't understand the value of currencies price stability and security, are the ones who learn finance from youtube videos, and who think that schools are evil, because they aren't fun and easy like the youtube videos they prefer. The best "educational" videos are made by guys whose username is something like Bitcoin$$Playa and who can confirm that bitcoin is especially secure because of it's speculative value without an anchor. So, everyone should buy now to become Ze New w0rld l33tz.

Lol. What was your username pre-3/14/14?  I have a few guesses.

You are like bear troll 101. Straight out of the fud-to-bring-price-low while pump-to-get-price-high handbook.

Right now you love LTC. No coincidence that you arrived right before the LTC houbi buy the rumor sell the news pump and dump.

You'll be gone from here in another week or so. And will be forgotten. He'll, they probably already miss you over at the btc-e troll box.  

Meanwhile, for the rest of us, life goes on as normal.

My previous username got banned for disagreements with an certain individual. If you have been an active reader of this forum, then you can probably guess the answer with ease.
With investments, I mostly support the side that has more strength. When bulls have more strength, then I'm bullish, when bears, then bearish. I would so try to say things, that would make bitcoin look good, if I had any reality based support to do this. I'm not the kind of guy who goes bullish with the support of denial and empty hopes. Give me new bitcoin exchanges with decent volume in new geographical locations, and I'm as bullish as can be. But for the previous months, there haven't been a single strong reason, that would give me assurance of bitcoins strenght. And I'm not happy about it, because I would earn a lot more if bitcoin would be rising.
I just don't see that denial and building false hopes are a very effective methods to guide your investments. Sorry.

Wow. You have to be a real fucktard to get banned on btctalk. Congrats on that one.

At least you admit you champion the current market conditions. Whatever you think lines your pockets the most I suppose. Maybe just maybe there are enough idiots out here for you to influence to scrape a few dollars more of the top of the ask and bid price to make it worth your while.

[knightcoin]

I've been following news on Latin America and Middle East ... I think bitcoin will expand on these areas, while been lite stagned on EU/US ...

PS-> Sounds like in Latin America elections is preaty much reassembling "cold war" times where you should choose to be either libertarian or Statism; btw its' reminds me ...

A story that might not be a story, and a recent reminder from Satoshi.
https://bitcoinfoundation.org/forum/index.php?/topic/745-a-story-that-might-not-be-a-story-and-a-recent-reminder-from-satoshi/page__hl__venezuela

[Zapffe]

Wow. You have to be a real fucktard to get banned on btctalk. Congrats on that one.

At least you admit you champion the current market conditions. Whatever you think lines your pockets the most I suppose. Maybe just maybe there are enough idiots out here for you to influence to scrape a few dollars more of the top of the ask and bid price to make it worth your while.

I have no beef with btctalk and I think that their ban was justified. It was just an unfortunate outcome of me not responding well to threats.
I'm hardly championing the current market conditions. My tactic is simple, but has proven itself effective - sit in fiat and only jump in, if there is a strong reason to jump in and be ready to jump out when the time is right. This is the nature of this current market - rises are fast but weak and temporal. There needs to be some market development to raise new trust before this bear market is over. You can't just draw a line and expect that everything will be good because last years pattern showed that it was good. Last years patterns are caused by real reasons, not the other way around.
Bitcoin biggest holders (in all probability the exchanges), should unite to create an more trustworthy market system, with constant internal audits and transparency to the public. Only then would smart investors feel safer investing back into crypto. You can't just draw a line and expect that the investors will believe it without reason, only sheep follow these meaningless lines.

[Zapffe]

I've been following news on Latin America and Middle East ... I think bitcoin will expand on these areas, while been lite stagned on EU/US ...

PS-> Sounds like in Latin America elections is preaty much reassembling "cold war" times where you should choose to be either libertarian or Statism; btw its' reminds me ...

A story that might not be a story, and a recent reminder from Satoshi.
https://bitcoinfoundation.org/forum/index.php?/topic/745-a-story-that-might-not-be-a-story-and-a-recent-reminder-from-satoshi/page__hl__venezuela

I think that if someone could effectively market bitcoin in south- and central-America, then we could really get 1BTC 10,000$+. I think that this region would be the biggest and most suitable market yet. What troubles me, is that I see no progress of this development. I think that with proper contacts and funding you could make bitcoin very popular there. I was certain during December that bitcoin will enter south-America in spring, but will of development I have began to loose faith for future potential. Without conquering new ground, bitcoin will just slowly die without any new booms.

I haven't thought about Middle East because I think that using Bitcoin will create confusion on it's suitability with Sharia.
But give me Mexico, Brazil, Venezuela, Argentina and Colombia and I'll start posting train pics.

[pungopete468]

@ Z

A few things...

 - Your opinion about the "anonymous criminals" dumping Bitcoin and hurting a respected exchange is foolish. Banks love criminals, always have... Somebody would make millions in mere moments on the arbitrage opportunity. Pennies on the dollar...

 - Gold was used as untraceable money since the earliest periods of human history, modern day paper money is also untraceable, this nanny state mentality about knowing the financials of everybody else is toxic. Only in the last few decades has humanity had the tools to efficiently track money. The ability to deprive somebody the use of their money is the assertion of power over another; it's a claim of ownership, basically slavery. I don't care if the money belonged to a drug dealer, it's none of my business to ask and it defeats the purpose of money. If I traded a service and couldn't collect payment just because the money was "tainted" I would choose a different currency and never look back. Money is broken when it's not fungible.

 - Manipulation in any market is negative, gold or Bitcoin. Sadly, many crimes are committed by "trusted" people. Using fake money to manipulate a market is cheating. Cheating is never right, not even when you are the one printing the fake money. For every winner there is a loser, when you create losers by manipulating a market you are not "trustworthy" in my opinion and the reason isn't "good enough". At least with Bitcoin the people who manipulate the price have a limited amount of Bitcoins; at least we all play by the same uniform set of rules...

 - I just spent $230 last week on groceries that would cost $90 back in 2005. Look at the world for what you see, not what they tell you... Stability is a joke, they are laughing behind your back because you believe in "stability". I agree that stability is important in a currency, if only I could find one...  At least Bitcoin *Might* have a future; I don't believe our legacy financial system will outlast it. Honestly I don't...

 - Bitcoin is trending downward, it will trend upwards, then downwards, so on and so forth. Bitcoin has lost no security, the perception of insecurity is weak. You might feel insecure walking across a bridge, or being high up in a building. Your emotions don't affect the integrity of the structure one little bit... Bitcoin is just as secure now as ever, if you don't own your private keys you don't own Bitcoin. Lessons in security...

 - Bitcoin might not be the most popular crypto in the future, but if it's ever replaced you can be sure it will be replaced by something better and not by something we're simply told to use... Bitcoin opened the door, now we can pass through it and see what happens in time.

 - Never go full fiat...

[thedarksun]

We are dropping folks. 500 and soon below it. 2014 year of the bitcoin destruction

[zimmah]

Buffet once said - trading is process of redistributing wealth from least patient to most patient 

I like that statement for many reasons.

To the OP: If you agree with the fundamental improvement of bitcoin over our fiat systems it would be easy to see why its value and price is/will be over $1000/coin/

People who think that bitcoin can replace fiat are the ones who learn about finance from youtube videos.
To replace fiat, bitcoin supply should be fixed according to some practical everyday resource like oil, coal, corn etc. Only then it would have price stability. The pseudo-resource of fixed rate coin mining is a foolish way to control money. If bitcoin would become world currency, then unfair wealth distribution would increase tenfolds.

no, because noone has the exclusive right to print money, unlike now.

The unfair wealth distribution will even off, instead of getting worse. At first the early adopters (including us) will be pretty rich, but once we spent our money, it's spent, and we have to earn new money again. Main while whoever offered us goods or services will get a fair payment.

There will be no free rides, or at least a lot less than with fiat.