Snorek (OP)
Legendary
Offline
Activity: 1400
Merit: 1001
|
|
June 17, 2016, 08:55:35 AM |
|
"Bitcoin is still undervalued by quite a margin, but we should not run the marathon before we can take our first steps either." That is the main thought of this article: http://www.newsbtc.com/2016/06/13/unnatural-bitcoin-price-growth-cannot-sustained-indefinitely/And here is my question. Do you think that bitcoin is undervalued, but we should wait for larger scale adoption, develop infrastructure and services around it first, before pushing it? or Bitcoin is undervalued, so it is perfectly fine as it is now and all we need is higher price to push it to the next level and adoption, recognition and userbase will come with it?
|
|
|
|
Wendigo
Legendary
Offline
Activity: 2604
Merit: 1036
|
|
June 17, 2016, 09:40:51 AM |
|
I think a lot of people are using Bitcoin as a store of their wealth and not as a digital currency and that's why we are seeing such abnormal jumps in the price. If Bitcoin became more popular among consumers I think the price would be less volatile and would have a more stable value. Because everyone is buying a lot of coins due to all the hype surrounding Bitcoin the price is going up but it could come crashing down when people start selling and I don't think this is what we all want. I think Bitcoin is overvalued and underused these days.
|
|
|
|
avikz
Legendary
Offline
Activity: 3136
Merit: 1511
|
|
June 17, 2016, 09:46:02 AM |
|
Bitcoin is considered as an alternate investment option and many people like me are just buying and accumulating. The market cap is increase due to huge buying of bitcoin and that is the primary reason behind the price increase.
However, a group of investors are also traders. So they will soon start to book their profit. Like every other trading currency, bitcoin price will see a sharp drop in price when the mass selling will happen. I too believe that the current price range of $730 is not sustainable.
|
|
|
|
thejaytiesto
Legendary
Offline
Activity: 1358
Merit: 1014
|
|
June 17, 2016, 12:29:37 PM |
|
Bitcoin is undervalued as hell, and Bitcoin can perfectly sustain more money coming in, it just means you have to pay an higher fee if you want your transaction to go faster. We are not going to rush things so we end up like ETH with their absolute disaster we have seen today. It's better to make progress in a slow, but solid fashion, than to rush things, so pay the fucking fees and let the coders keep doing a good job.
|
|
|
|
pedrog
Legendary
Offline
Activity: 2786
Merit: 1031
|
|
June 17, 2016, 01:21:08 PM |
|
3 transactions per second...
I don't see how it is undervalued.
|
|
|
|
Carlsen
|
|
June 17, 2016, 01:48:40 PM |
|
At the moment, the rapid increase of bitcoin makes me worry a little. That quick growth can not be sustainable. I think it's a bubble that will implode soon (halving day).
|
|
|
|
talkbitcoin
Legendary
Offline
Activity: 1372
Merit: 1032
All I know is that I know nothing.
|
|
June 17, 2016, 02:03:40 PM |
|
"Bitcoin is still undervalued by quite a margin, but we should not run the marathon before we can take our first steps either." That is the main thought of this article: http://www.newsbtc.com/2016/06/13/unnatural-bitcoin-price-growth-cannot-sustained-indefinitely/And here is my question. Do you think that bitcoin is undervalued, but we should wait for larger scale adoption, develop infrastructure and services around it first, before pushing it? or Bitcoin is undervalued, so it is perfectly fine as it is now and all we need is higher price to push it to the next level and adoption, recognition and userbase will come with it? bitcoin is surely undervalued , and there is no argument there. but this doesn't meant that the bitcoin is ready to have this much value right now and the current price rise is not because of adoption. so it needs a bit longer to reach that stage and have the real price rise because of adoption.
|
|
|
|
Daniel91
Legendary
Offline
Activity: 3374
Merit: 1824
|
|
June 17, 2016, 02:14:25 PM |
|
Bitcoin History tells us that this growth is not sustainable. There were a lot of ups and downs in the value of Bitcoin, and such trend will continue because it is inevitable. It's nature of any market, that value always depend of supply and demand. When demand decrease we will see decline in the value of Bitcoin.
|
|
|
|
alyssa85
Legendary
Offline
Activity: 1652
Merit: 1088
CryptoTalk.Org - Get Paid for every Post!
|
|
June 17, 2016, 02:26:55 PM |
|
I think a lot of people are using Bitcoin as a store of their wealth and not as a digital currency and that's why we are seeing such abnormal jumps in the price.
Yes - the consensus now is that bitcoin is an asset not a currency, and as a result it is behaving very similarly to gold.
|
|
|
|
aso118
Legendary
Offline
Activity: 1918
Merit: 1012
★Nitrogensports.eu★
|
|
June 17, 2016, 02:28:47 PM |
|
Bitcoin History tells us that this growth is not sustainable. There were a lot of ups and downs in the value of Bitcoin, and such trend will continue because it is inevitable. It's nature of any market, that value always depend of supply and demand. When demand decrease we will see decline in the value of Bitcoin.
History tells us that there are periods when rapid price increases have taken Bitcoin to new levels. From crossing $1 to crossing $100, there have been several landmarks. Whether the current run will result in a new landmark is debatable.
|
|
|
|
justdimin
|
|
June 17, 2016, 05:38:06 PM |
|
I don't see bitcoin as something undervalued, to be honest. I think the current value is just enough to accommodate the number of transactions being held and the number of users using bitcoin. It's just the fact that when bitcoin's value needs to grow, it would need bigger investors and more and more coins are being held and not into active circulation.
|
|
|
|
ekoice
|
|
June 17, 2016, 05:52:02 PM |
|
yeah some how this bitcoin today's price is overvalued and unnatural and every one must be scared of the time when people might start selling their bitcoins so that moment prices might get down which is not good so unnatural bitcoins price growth cannot be sustained indefinitely.
|
|
|
|
densuj
Legendary
Offline
Activity: 910
Merit: 1000
|
|
June 17, 2016, 06:00:36 PM |
|
It is time for sell all of my bitcoin, because the price of bitcoin will going down soon if i looked last halving block.
|
|
|
|
RodeoX
Legendary
Offline
Activity: 3066
Merit: 1147
The revolution will be monetized!
|
|
June 17, 2016, 06:07:49 PM |
|
I do not think bitcoin is undervalued and I have good reason to think so. Every moment of every day all over the world people are buying and selling at the exchanges. Anyone of us could ask for any price but if you chose a price above the market valuation then nobody is going to buy from you. That is because the price decided by the market is the fairest price and should be considered the "real" price. If a person's opinion is that bitcoins are undervalued then it is only their opinion and has no relationship to the actual market forces. So the value of a bitcoin is what others will pay for it. Not what we wish they would pay or what we think they should pay, what they will actually pay.
|
|
|
|
amacar2
Legendary
Offline
Activity: 1120
Merit: 1008
CryptoTalk.Org - Get Paid for every Post!
|
|
June 17, 2016, 06:18:42 PM |
|
Bitcoin price has been pumped so quickly this week but suprising thing is that we haven't seen much dip or dump like before whenever there was huge pump. If we remember price been pumping from november last year from 200-300$ range. So compared to that we are doubled and this can be consideered as good and reasonable price considering upcoming halving.
New news which can fuel this price run can be current DAO network hacked and more than 2 million eth is in hacker wallet.
|
|
|
|
Amph
Legendary
Offline
Activity: 3206
Merit: 1069
|
|
June 17, 2016, 06:54:46 PM |
|
unnatural price growth really? the dump that happened before that(the big dump from 1200 to 200) was much more unnatural to me, bitcoin should remain at least at 1k in value no less
there is no reason for bitcoin to remain at such ridiculous low level(<400-500)
|
|
|
|
log2exp
|
|
June 17, 2016, 07:23:10 PM |
|
It's relative term regard the growth is "unnatural" whatnot. Do you know how fast is the fiat press printing going? It seems perfect normal growth according to the current value.
|
|
|
|
kik1977
|
|
June 17, 2016, 07:29:54 PM |
|
3 transactions per second...
I don't see how it is undervalued.
It depends. Are those transactions people using or hoarding bitcoins? My feeling is that many people are simply buy for trading and will soon dump all their coins at the right price or at the sign of a downward trend.
|
We are like butterflies who flutter for a day and think it is forever
|
|
|
OnkelPaul
Legendary
Offline
Activity: 1039
Merit: 1004
|
|
June 17, 2016, 07:44:11 PM |
|
The recent price movement is most likely triggered by anticipation of the upcoming mining reward halving. I suspect that at least some part of the rise is caused by deliberate pumping activity (probably by miners who need to make sure that their mining rewards are sufficient to keep their operation running even after the halving). The risk with such a pumped exchange rate is that it can't be sustained, but in this case the pumpers don't have an incentive to become dumpers after the price rise, so it might stay around $700-$800 for a while. I don't really expect a true "to-da-moon" development, but as market participants are irrational humans, it may happen anyway... In that case, a hard drop is probably inevitable, but most likely it will fall to current levels, not much lower.
Onkel Paul
|
|
|
|
traderbit
|
|
June 17, 2016, 07:49:50 PM |
|
On that article is not specified how much does a bitcoin really worth, but i think that it is not undervalued much as it is keeping increasing day to day. If bitcoin is undervalued then how much worth based on your/their opinions.
|
|
|
|
|