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BlackSpidy (OP)
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March 08, 2016, 01:33:13 AM |
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This is why I have liquidated my position in Bitcoins. There is very little upside going forward. Block size limit is too low. No forward moves of late have any traction whatsoever and demand continues to lag. Way too little upside for such a risky proposition so my advice is to move into dollars. Only a significant change in the economy could alter this forecast.
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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ssmc2
Legendary
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Activity: 2002
Merit: 1040
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March 08, 2016, 01:43:47 AM |
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Oh Noes!  |
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The Sceptical Chymist
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Activity: 3332
Merit: 6826
Cashback 15%
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March 08, 2016, 01:53:43 AM |
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If I may be so bold, sir, what was the value of the position you liquidated?
I don't necessarily agree with your position. I think we could definitely go to $700 and beyond but it seems to me that a lot of interest in crypto is headed toward things like ETH and all of this 2.0 stuff. But I think bitcoin is a good way to store value. It's a horrible currency and I think people are realizing this, but $700 is on the horizon.
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jt byte
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March 08, 2016, 01:55:28 AM |
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I think you are wrong, the bitcoin is firstly not to predict so that is one reason why I'm not thinking the same.
Another reason is that the halving is coming and because of that it can reach this amount easily I'm very sure of that.
The last reason is you have to keep in mind the bitcoin is growing and the number of people that are investing is also so that is another one why it would be reached.
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Pab
Legendary
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Activity: 1862
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March 08, 2016, 01:58:03 AM |
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Maybe but will reach 650$ maybe even in April than we can talk next but move to dollar will be not rates rise
dollar will lose not to euro but to gold and btc
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7788bitcoin
Legendary
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Activity: 2282
Merit: 1023
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March 08, 2016, 03:15:45 AM |
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This is why I have liquidated my position in Bitcoins. There is very little upside going forward. Block size limit is too low. No forward moves of late have any traction whatsoever and demand continues to lag. Way too little upside for such a risky proposition so my advice is to move into dollars. Only a significant change in the economy could alter this forecast.
I agree that the blocksize debate has been limiting the increase in bitcoin price, even with the up-coming reward halving. However, if you believe in the purpose and objective of Satoshi creating bitcoin (I do believe), the blocksize issue will eventually be solved and you will expect the value of bitcoin in increase significantly. Have faith and remain active to contribute to the growth! |
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crossabdd
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March 08, 2016, 03:25:07 AM |
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how about this chart ?  source i think we will see biggest pump before halving  BIg rebound will come before halving done. |
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Chef Ramsay
Legendary
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Merit: 1001
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March 08, 2016, 03:34:25 AM |
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So, 7hun and out huh? I'm sorry to see longstanding and willing parties bail and not reap the true benefits of Bitcoin which are yet to come. Best of luck.
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BTCLovingDude
Legendary
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Activity: 1134
Merit: 1010
BTC to the moon is inevitable...
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March 08, 2016, 04:52:14 AM |
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what i see is a lot of sell happening which pushed the price back below $400 but that pressure was not even big enough to keep it below that and it is already $421 again right now. that is what i call big demand.
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--looking for signature--
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MNDan
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March 08, 2016, 05:12:34 AM |
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So, 7hun and out huh? I'm sorry to see longstanding and willing parties bail and not reap the true benefits of Bitcoin which are yet to come. Best of luck.
Yep - might as well prepare for a life full of regret as well. :-) |
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SFR10
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Crypto Swap Exchange
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March 08, 2016, 05:17:24 AM |
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I can't agree with you. $700 value is within reach in few months (mostly after July). Everything regarding block size limit have been discussed already and sure enough when is needed, there will be a raise. In terms of demand, it's getting higher and higher same time as supply getting harder and harder to achieve therefor price increase would be the likely outcome.
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nostal02
Member
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March 08, 2016, 05:24:26 AM |
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It will reach 700 for sure wait after the halving and we will see the price of bitcoin go sky high.
When bitcoin is hard to mine the price of it will surely go up.
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target
Legendary
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March 08, 2016, 06:15:21 AM |
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I'm already happy with the current value actually. even when it was yet $250 i was stun how great it could be while the others are just less than $25. if bitcoin had made it to 1200USD back then, it may still be back perhaps some other companies will invest to it as well. so $700 isn't far fetch.
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Laviathon
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March 08, 2016, 06:17:26 AM |
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I call shenanigans.
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a7mos
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March 08, 2016, 06:25:59 AM |
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Well, last year some people were saying that reaching $400 is to almost impossible and bitcoin reached it so I do not agree with you.
But why you chose 700 as your top point ? i.e. if you think btc has some problems, why did not you expect a lower level ?
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Red-Apple
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March 08, 2016, 06:26:05 AM |
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sad to hear a Sr. Member think like this.
we are all waiting for a big change in bitcoin ecosystem. the block size needs to be increased but before that there should be consensus reached among developers first.
but none of this makes me want to dump my bitcoins especially now that the price is at a good level and increasing.
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--signature space for rent; sent PM--
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BitcoinLover 1337
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March 08, 2016, 06:44:40 AM |
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Bitcoin will never die!   |
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spiderbrain
Legendary
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March 08, 2016, 07:05:05 AM |
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I agree the core devs are being dysfunctionally pedantic in terms of the block size issue and this has given the market jitters, but Bitcoin's market cap is still tiny compared to its potential global application (i.e. moving money internationally or simply holding it in private without having to trust anyone or ask permission) so I'm curious what your reasoning is to conclude that it will never get above $700 again? Who on earth can predict the price of bitcoin at all..? It's hugely volatile, but I'd still rather hold bitcoin than fiat with all the financial insanity going around at the moment.
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shintosai
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March 08, 2016, 07:17:09 AM |
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I'll waiting for what will happen to this coin this year because I'm just new and I have a better feeling that a possibility of reaching $700 is not impossible after reading prev updates and the popularity is getting wider I think if all of us here have same faith this amount can be reach or more than we expect.
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NorrisK
Legendary
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March 08, 2016, 07:22:40 AM |
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Bitcoin made a 100% price recovery in the past months back up from 200 and you call it very little upside going forward?
You should stop comparing bitcoin to the altcoins. The altcoins can make exponential moves because their market cap is tiny compared to bitcoin. This means that manipulation is even easier as it is with bitcoin. Anyone with a few hundred bitcoin can set the price for any coin they control most coins of (to avoid being dump hard on).
Bitcoin is making progress and when the blocksize issues are resolved and the halving is knocking on our doors, we will see another nice recovery in the direction of the ath.
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