my intuition says: we're sitting on a rocket about to be ignited

[conspirosphere.tk]

BTC will only take off once there is a killer use for it. Either mobile payments or electronic payment on the Internet. Before that, it will remain somewhat of a curiosity.

There several already: drugs, and asset protection (tax evading included). More than enough to back our funny money and then some.

I am instead worried by the attention of the "authorities" (witnessed by the ECB paper): if they are able to cap the world price of gold and silver for decades, just figure what they could pull out to kill BTC.

I suspect that even the weird Nefario's sudden paranoia may be related to it ("they" are probably beaming some mind control ray straight into his skull 24/7 from the black copters).

[adamstgBit]

a rocket about to be ignited

the only way is down or side ways for 2/3 months, dear OP deal with it

My same tought.
Eventually, the price will rise anyway.

my guess is you will see a 10,000 coin dump hardly move the price and you'll still be in denial

short squeeze, coming right up! 

[molecular]

BTC will only take off once there is a killer use for it. Either mobile payments or electronic payment on the Internet. Before that, it will remain somewhat of a curiosity.

There several already: drugs, and asset protection (tax evading included). More than enough to back our funny money and then some.

I am instead worried by the attention of the "authorities" (witnessed by the ECB paper): if they are able to cap the world price of gold and silver for decades, just figure what they could pull out to kill BTC.

I suspect that even the weird Nefario's sudden paranoia may be related to it ("they" are probably beaming some mind control ray straight into his skull 24/7 from the black copters).

It's not like they will securitize (is that the right word for putting a paper layer on something?) bitcoin and sucessfully suppress the price by naked-shorting the crap out of that bitcoin paper. In addition to that: there would be no "gold price" if gold was used as money throughout. Demonetizing gold and silver is a lot easier than demonetizing bitcoin, because bitcoin has lower transaction cost and risk than paper. It worked well with the metals because people preferred paper receipts because they are easier to carry around and more divisible (read: transaction cost is lower). It's interesting in this regard to read something about "imposing minimum reserve requirements on virtual currency schemes" in the ECB paper. Sorry, went off on a tangent here.

I agree these are powerful people bitcoin is up against and I also agree they will try to hit bitcoin hard at some point (not within the timeframe I suggested in OP, 1-3 months) - probably in many different ways. I said specifically "hit bitcoin" and not "hit us", because they can threaten all the Nefarios they want, there will still be the dread pirate roberts.

The most effective weapon they could use would kill themselves, too, btw: rollout of a sound money standard

[molecular]

a rocket about to be ignited

the only way is down or side ways for 2/3 months, dear OP deal with it

oh, don't worry 'bout me. I have to deal with my intuition being wrong all the time. I specifically hedge against that.



whoops? where 'd the fat dude go?

[FreeMoney]

With the halving only 6 weeks or so away, I quite surprise the price hasn't started to go up.
Guess no-one cares.

More like T-3weeks!

[molecular]

With the halving only 6 weeks or so away, I quite surprise the price hasn't started to go up.
Guess no-one cares.

More like T-3weeks!

yep, we're half way through the current difficulty adjustment period. Only one more to go after that.

http://bitcoinclock.com/

[steamboat]

I'd like Bitcoin to stay right where it is until we've had a few more years ramp-up in regards to infrastructure. If "they" can control world financial markets, what makes you think they would bat an eye at spending billions to save the profit centers making them trillions? As soon as the banks realize Bitcoin is a threat, the jig is up. If we don't have a massive network already in place with measures to protect it, we're boned.

[adamstgBit]

I'd like Bitcoin to stay right where it is until we've had a few more years ramp-up in regards to infrastructure. If "they" can control world financial markets, what makes you think they would bat an eye at spending billions to save the profit centers making them trillions? As soon as the banks realize Bitcoin is a threat, the jig is up. If we don't have a massive network already in place with measures to protect it, we're boned.

what about W.O.W. gold?
shouldn't they worry about that threat too?

lol bitcoin is FAR from being a threat...  

[ArticMine]

I'd like Bitcoin to stay right where it is until we've had a few more years ramp-up in regards to infrastructure. If "they" can control world financial markets, what makes you think they would bat an eye at spending billions to save the profit centers making them trillions? As soon as the banks realize Bitcoin is a threat, the jig is up. If we don't have a massive network already in place with measures to protect it, we're boned.

This assumes that Bitcoin is actually a threat to banks and the banking industry. There are enough Microsoft Windows users out there with computers infected with all sorts of malware to keep the banks very profitable should Bitcoin become mainstream. These users will deposit their Bitcoins with the banks for the same reason people in the 18th century deposited their gold with the Rothschilds: Fear of theft. In many ways the impact that Bitcoin will have on banking is to turn back the clock say 100 or 200 years and may ironically end up saving many banks and bankers.

[molecular]

I'd like Bitcoin to stay right where it is until we've had a few more years ramp-up in regards to infrastructure. If "they" can control world financial markets, what makes you think they would bat an eye at spending billions to save the profit centers making them trillions? As soon as the banks realize Bitcoin is a threat, the jig is up. If we don't have a massive network already in place with measures to protect it, we're boned.

what about W.O.W. gold?
shouldn't they worry about that threat too?

lol bitcoin is FAR from being a threat...  

ECB paper:

W.O.W gold: type 1
linden $: type 2
bitcoin: type 3

type 3 == problem

as steamboat says: we're only getting stronger with time. Maybe there's a point of no return.

[myself]

so the weekly macd say down



SS also say side ways or down




rsi say up or side ways

adx already say the past trend is dead




because OP did hold 300 000 bitcoins and he say UP UP have no connection 
http://www.spiegel.de/netzwelt/netzpolitik/hacker-waehrung-bitcoin-geld-aus-der-steckdose-a-765382.html

[ElectricMucus]

 

so the weekly macd say down

But Adam says we are going up.

SS also say side ways or down

And Adam says we are going up.

rsi say up or side ways

And Adam says we are going up.

adx already say the past trend is dead

But Adam says we are going up.

[Yuhfhrh]

so the weekly macd say down

But Adam says we are going up.

SS also say side ways or down

And Adam says we are going down.

rsi say up or side ways

And Adam says we are going up.

adx already say the past trend is dead

But Adam says we are going down.

FTFY lol 

[ElectricMucus]

Oh I see, that is becoming more complicated than I thought 

[adamstgBit]

would a few weeks of trading toward 11.50 change any of these indicators?
I   THINK   SO!  

[Yuhfhrh]

would a few weeks of trading toward 11.50 change any of these indicators?
I   THINK   SO!  

He has spoken. BUY. 

[Cluster2k]

One 'killer use' might be Greek and Argentinian citizens smuggling money out of the country after a currency devaluation.  This requires them to buy bitcoins before the collapse however, which no one really knows the date of.  Value of bitcoin goes up.  Greeks buying ASICs and mining doesn't help the value of bitcoin, as they would look to sell ASAP to pay for the hardware purchases.

A negative side effect of this however would be Europe and possibly its allies (USA, etc) putting pressure on bitcoin exchanges to not take 'illegal' funds from nations where currency controls are present.  MtGox et al are near useless without integration into the global banking system (how else does one transfer money to MtGox?).  Does MtGox being in Japan make it more immune to outside influence?  No, as the USA just needs to remind Japan who it is that provides security guarantees for the nation.

[nobbynobbynoob]

One 'killer use' might be Greek and Argentinian citizens smuggling money out of the country after a currency devaluation.  This requires them to buy bitcoins before the collapse however, which no one really knows the date of.  Value of bitcoin goes up.  Greeks buying ASICs and mining doesn't help the value of bitcoin, as they would look to sell ASAP to pay for the hardware purchases.

A negative side effect of this however would be Europe and possibly its allies (USA, etc) putting pressure on bitcoin exchanges to not take 'illegal' funds from nations where currency controls are present.  MtGox et al are near useless without integration into the global banking system (how else does one transfer money to MtGox?).  Does MtGox being in Japan make it more immune to outside influence?  No, as the USA just needs to remind Japan who it is that provides security guarantees for the nation.

+1 Good post.

I've been wondering about this. Clearly the exchanges are Bitcoin's Achilles heel, and the points states could attack/overregulate if they so wished - the exchanges doing their darndest to be AML/KYC compliant is exceedingly sensible. However, are there countries such as, say, St Kitts & Nevis, Costa Rica, etc. where such services could be established relatively free of hassle, along the lines of online gaming?

[ElectricMucus]

One 'killer use' might be Greek and Argentinian citizens smuggling money out of the country after a currency devaluation.  This requires them to buy bitcoins ...

You are clearly delusional.

But keep up the good work!  

[ninjarobot]

BTC will only take off once there is a killer use for it. Either mobile payments or electronic payment on the Internet. Before that, it will remain somewhat of a curiosity.

There several already: drugs, and asset protection (tax evading included). More than enough to back our funny money and then some.

Agreed. Services that protect your privacy are another great match for bitcoin.

In fact, yesterday I was shopping for a VPN service and settled on https://torguard.net/ - I was pleasantly surprised to see them offering Bit-Pay as an option. First time I ran into a site accepting bitcoin in the wild (without looking for it specifically). It is moments like that when you realize that bitcoin is here to stay.