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savetherainforest
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June 20, 2016, 04:11:29 PM |
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Did any of you made even made a small thinking exercise, on the matter: What happens when BTCitcoin actually costs too much fiat paper to be bought?!?!!
How much is too much though? I mean people are buying ounces of gold at ~1400 per coin and kilobars at 42.000 per bar, so, there's definitely a looooooot of upside.
Then the spiral continues! .. and goes on.. and on.. and on!... Till fiat will be pointless... and we will have to throw Gold, Silver, Platinum, Copper, Diamonds, Marble ... on a trading platform (Crypto) BTCitcoin vs. limited Resources/Commodities/Services. Amen!
And don't worry about Debt & Derivatives! Those 2 things will disappear in the future! The Laws of reality will settle those disputes: If you can't physically hold it or touch it, you don't own it! |
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glorywhole
Newbie
 Offline
Activity: 42
Merit: 0
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June 20, 2016, 04:18:25 PM |
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By "the scaling and security direction of bitcoin," do you mean "lie about SegWit release dates & don't deliver anything," or? Also, any way for you to cut down on schadenfreude? Because that sort of thing tends to come back to bite you. *And yes, BTC price is dropping, and will continue doing so for the near future. So keeping things topical. |
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willope
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June 20, 2016, 04:21:15 PM |
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Soo.. is it a bear trap or a bull trap?  Cuz I'll not sell anything but waiting to buy at a price crash. So.. not doing anything, just waiting. I don't really know, it's like an 50/50 of chances. |
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DaRude
Legendary
Offline
Activity: 2778
Merit: 1791
In order to dump coins one must have coins
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June 20, 2016, 04:24:00 PM |
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Did any of you made even made a small thinking exercise, on the matter: What happens when BTCitcoin actually costs too much fiat paper to be bought?!?!!
Wow...I never thought of that. Whenever I purchase anything with bitcoins I must always use a full bitcoin. I know that's exactly how i feel when i want to buy a piece of gum but all i have is a 500€ note. That gum suddenly became was very expensive, damn inflation! |
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bitebits
Legendary
Offline
Activity: 2211
Merit: 3178
Flippin' burgers since 1163.
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June 20, 2016, 04:24:55 PM |
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Soo.. is it a bear trap or a bull trap? Cuz I'll not sell anything but waiting to buy at a price crash. So.. not doing anything, just waiting. I don't really know, it's like an 50/50 of chances. |
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JimboToronto
Legendary
 Online
Activity: 4004
Merit: 4466
You're never too old to think young.
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June 20, 2016, 04:27:32 PM |
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Good morning Bitcoinland. Still going basically sideways, I see. A couple of attempts to start a panic but after the first one, it was right back to $750 in less than 2 hours, and after the second, we're already back over $740 and climbing.  Pretty much where we were on Friday. After 3 consecutive Sundays of setting new 2-year highs, we got a low-volume continuation of the consolidation period preceding another shot at $780. This could take some time. |
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Alley
Legendary
Offline
Activity: 910
Merit: 1000
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June 20, 2016, 04:32:42 PM |
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I think we're topped out at $800 until the halving actually decreases supply.
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inca
Legendary
Offline
Activity: 1176
Merit: 1000
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June 20, 2016, 04:36:24 PM |
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Bears not breaking through, bulls not pushing higher either.
Not so convinced this is over yet. We may go sideways from here, but we need a retest of the 6xx's (or a decent correction) before pushing a lot higher I would say.
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julian071
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June 20, 2016, 04:37:31 PM |
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Alts are up and LTC is down. I took my profit on that falling knife and will wait, a second dump might be coming.
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savetherainforest
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June 20, 2016, 04:59:00 PM |
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Bears not breaking through, bulls not pushing higher either.
Not so convinced this is over yet. We may go sideways from here, but we need a retest of the 6xx's (or a decent correction) before pushing a lot higher I would say.
From what the candles speak to me.... "The Dragon" just bought 40.000 BTCitcoins!I'm not sure how many he needs to bleed and thirst the markets so he can make an easy upward gentle push through all the bullsh!t. |
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toknormal
Legendary
Offline
Activity: 3066
Merit: 1188
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June 20, 2016, 05:14:31 PM |
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We are starting to get mainstream breakthrough.  |
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noobtrader
Legendary
Offline
Activity: 1456
Merit: 1000
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June 20, 2016, 05:23:00 PM |
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inca
Legendary
Offline
Activity: 1176
Merit: 1000
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June 20, 2016, 05:30:29 PM |
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Very little chance of that happening on this run. |
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Karartma1
Legendary
Offline
Activity: 2310
Merit: 1422
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June 20, 2016, 05:42:41 PM |
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4 days out and it seems like I was off for 1 year. Can't keep up this way. My stop loss orders were devoured on finex.
Still, more than 700$ dollars is a really good price approaching the halving and the brexit. can't wait
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steven0021
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June 20, 2016, 05:51:05 PM
Last edit: June 20, 2016, 07:10:04 PM by steven0021 |
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WE ARE HERE!!!
Look: Funny how that looked like a whale  Very little chance of that happening on this run. I don't think we'll get another bubble like that one again. Unlike back then, now some people are bound to dump their btc at the slightest sign of bubble (like that one.) bursting. Besides, I think it'll be much better if the price raise steadily instead of going crazy like that |
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gentlemand
Legendary
Offline
Activity: 2590
Merit: 3013
Welt Am Draht
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June 20, 2016, 05:53:52 PM |
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Unlike back then, now some people are bound to dump their btc at the slightest sign of bubble (like that one.) bursting.
People like to think that they're older and wiser now, but they're always going to be prone to mania and squealing 'this time it's different'. Human nature doesn't change. And perhaps one day it will be different. Not yet though. The only people who will be dumping at the key moments are the ice men who are above such things and will always be with us pulling the strings. |
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