Gentlemen, i think it's safe to say we're the new halving elite

[fearlesscat10]

You guys really think so?  I was hoping to buy more coins before the rise. Would it still be okay to buy now?

[1714116919]

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[1714116919]

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[Dilla]

yes, we are still at the bottom long term

[futureofbitcoin]

So what is overpriced for you? The actual price we are dealing with?
A price of $500-$600?
There is no answer to that imo. What you consider as too expensive might be a cheap and good entry point for others.

The point isn't what I think is overpriced or what YOU think is overpriced. I think bitcoin can be worth $200,000 and not be overpriced.

But what matters is what the WORLD thinks is overpriced, and currently, it seems they think $300+ is overpriced.

Bitcoin's demand is a function of the price point it's at.

i don't believe this is the reason why average joe are not buying bitcoin

the reason are more to do with its instability(1200-200 that happened) and general security, about losing their coins too easy, for whatever reason

i say this because when there was the 1200 run up, many and many normal traders or even big noobs, were buying at prices like 400-600-800-1200 etc...without even thinking

Average joes are stupid, they don't have an opinion. And you can certainly bet that they won't suddenly start buying bitcoins when the halving comes.

[r0ach]

Average joes are stupid, they don't have an opinion. And you can certainly bet that they won't suddenly start buying bitcoins when the halving comes.

The only purpose of Bitcoin is a hedge against legacy financial systems imploding.  If they were stable and functioned, there would be no reason to switch.  Since the legacy financial systems are mathematically doomed, a good bit of transfer of wealth is likely to move to Bitcoin.  You're basically front running the transfer before the average Joe is forced to change, like in Venezuela how they became super interested in Bitcoin as their currency implodes.

[r0ach]

The shorts tried and failed, didn't go below 260.  I've been to the mountain top and I've seen the coming of the glory of the coin and this is what it said:

http://www.youtube.com/watch?v=cF4ZTcuhixc

[zby]

The halving in LTC does not inspire much hope for bitcoin.  There was some nice anticipation rally - but the halving itself did not stop the crash and looks like it will not get it back high neither.

[r0ach]

The halving in LTC does not inspire much hope for bitcoin.  There was some nice anticipation rally - but the halving itself did not stop the crash and looks like it will not get it back high neither.

Probably because most people in the altcoin section don't believe Litecoin's market cap is warranted compared to other alts?  Litecoin price has nothing to do with Bitcoin price.  Litecoin could easily go to 1/10th of it's value while Bitcoin goes to 10x it's current value.  There's nothing to compare between the two.

[zby]

The halving in LTC does not inspire much hope for bitcoin.  There was some nice anticipation rally - but the halving itself did not stop the crash and looks like it will not get it back high neither.

Probably because most people in the altcoin section don't believe Litecoin's market cap is warranted compared to other alts?  Litecoin price has nothing to do with Bitcoin price.  Litecoin could easily go to 1/10th of it's value while Bitcoin goes to 10x it's current value.  There's nothing to compare between the two.

The mechanism of halving is the same in bitcoin and in litecoin - if it did not work for LTC then it will not work for BTC.

[bitebits]

The halving in LTC does not inspire much hope for bitcoin.  There was some nice anticipation rally - but the halving itself did not stop the crash and looks like it will not get it back high neither.

Probably because most people in the altcoin section don't believe Litecoin's market cap is warranted compared to other alts?  Litecoin price has nothing to do with Bitcoin price.  Litecoin could easily go to 1/10th of it's value while Bitcoin goes to 10x it's current value.  There's nothing to compare between the two.

The mechanism of halving is the same in bitcoin and in litecoin - if it did not work for LTC then it will not work for BTC.

And it did work for LTC. It went from 1 dollar, to 8 dollar, to 3 dollar. So the price more than doubled tripled even after the halving bubble deflated.

[r0ach]

And it did work for LTC. It went from 1 dollar, to 8 dollar, to 3 dollar. So the price more than doubled tripled even after the halving bubble deflated.

I was expecting $400 from Bitcoin halving, but I'll take $600.  There was always the chance of when the media reports Bitcoin is up 50% from halving it creates a new bubble anyway.

[pattu1]

And it did work for LTC. It went from 1 dollar, to 8 dollar, to 3 dollar. So the price more than doubled tripled even after the halving bubble deflated.

I was expecting $400 from Bitcoin halving, but I'll take $600.  There was always the chance of when the media reports Bitcoin is up 50% from halving it creates a new bubble anyway.

Yup, these kind of reports create a self-fulfilling prophecy.
The run up in 2013 was partly driven by such reports. So we can expect a lot more excitement closer to the reward halving time.

[Amph]

The halving in LTC does not inspire much hope for bitcoin.  There was some nice anticipation rally - but the halving itself did not stop the crash and looks like it will not get it back high neither.

has brought a x2 anyway in price, and it was a different halving, from 50 to 25, so miners should've a bigger margin in profit, vs 25 to 12.5

for this i think the bitcoin halving that it is coming should have a better impact on the price

[Mickeyb]

The halving in LTC does not inspire much hope for bitcoin.  There was some nice anticipation rally - but the halving itself did not stop the crash and looks like it will not get it back high neither.

Yes, but isn't Litecoin like a dead coin with no future? On all of the forums everybody keeps repeating this and the price drop and development activity suggest this.

On the other side, Bitcoin has dropped in price a lot but not 48 times as the price of Litecoin. Also I don't even need to repeat about all of the investments, etc in the Bitcoin ecosystem. It's strange to me to compare Litecoin halving and Bitcoin halving.

[coinplus]

The halving in LTC does not inspire much hope for bitcoin.  There was some nice anticipation rally - but the halving itself did not stop the crash and looks like it will not get it back high neither.

Yes, but isn't Litecoin like a dead coin with no future? On all of the forums everybody keeps repeating this and the price drop and development activity suggest this.

On the other side, Bitcoin has dropped in price a lot but not 48 times as the price of Litecoin. Also I don't even need to repeat about all of the investments, etc in the Bitcoin ecosystem. It's strange to me to compare Litecoin halving and Bitcoin halving.

Nothing wrong in comparing the trend situations of litecoin which faced it's first halving recently. Litecoin prices jumped more than double then settled on double to make sure the miners profit regardless of half mining rewards. Why not same will happen to bitcoin....

[LMGTFY]

Nothing wrong in comparing the trend situations of litecoin which faced it's first halving recently. Litecoin prices jumped more than double then settled on double to make sure the miners profit regardless of half mining rewards. Why not same will happen to bitcoin....

I guess it makes sense to compare two crypto-currencies at similar points in their history, e.g. LTC just before the block reward halving with BTC just before its first reward halving. I'm much less convinced that we can gain much insight from comparing BTC now (i.e. before its second halving) with LTC (before it's first and only halving). 70% of total BTC is already mined - the remaining 30% will be distributed over the next 200 years. In contrast, LTC still has (over?) half its total still to be mined. I'll be disappointed if BTC's next halving results in similar results to LTC's first halving.

[zby]

The halving in LTC does not inspire much hope for bitcoin.  There was some nice anticipation rally - but the halving itself did not stop the crash and looks like it will not get it back high neither.

Probably because most people in the altcoin section don't believe Litecoin's market cap is warranted compared to other alts?  Litecoin price has nothing to do with Bitcoin price.  Litecoin could easily go to 1/10th of it's value while Bitcoin goes to 10x it's current value.  There's nothing to compare between the two.

The mechanism of halving is the same in bitcoin and in litecoin - if it did not work for LTC then it will not work for BTC.

And it did work for LTC. It went from 1 dollar, to 8 dollar, to 3 dollar. So the price more than doubled tripled even after the halving bubble deflated.

That is ignoring that it first dropped from 55 dollars to 1 dollar. Even without halving I would expect some dead cat bounce.

[spazzdla]

The halving in LTC does not inspire much hope for bitcoin.  There was some nice anticipation rally - but the halving itself did not stop the crash and looks like it will not get it back high neither.

Too many people insta selling LTC for BTC for it to be looked at for a comparison.  BTC is sold for Fiat not alt coins it's a different animal.

[maokoto]

The halving in LTC does not inspire much hope for bitcoin.  There was some nice anticipation rally - but the halving itself did not stop the crash and looks like it will not get it back high neither.

Too many people insta selling LTC for BTC for it to be looked at for a comparison.  BTC is sold for Fiat not alt coins it's a different animal.

Agree. Those two halvings cannot be compared in equal condicitions.

But I think that price is still to go up a bit due to the halving. Miners are likely to wait a little before getting hold of their Bitcoins yet.

[r0ach]

Such coin wow

[r0ach]

Took picture of chart too soon, it went up more.  If we break $300 anytime soon, the halving is gonna go way beyond my initial speculation of $400-450.