SheHadMANHands
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Activity: 1168
Merit: 1000
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November 18, 2013, 04:24:25 PM |
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Are you going somewhere with these arguments? What is the point?
I guess the point is that the price of 600 is simply unsustainable for Bitcoin, and not a lot of people understand this. Or, 600 is sustainable as long as you have 2 million dollars daily of new investments in Bitcoin. Why is unsustainable? Most people right now only buy Bitcoin as a store of value and as an investment. Is that wrong? Not at all. Most of us have no plans to sell for fiat in a long time (i bought a year ago and i have no plans of selling) I have heard price was not sustainable since $13/btc, and guess... we are at $640 and going up, and price will be sustainable at $1000 and $10000 because more people are buying that selling, that's pure logic. Bingo |
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ardana123
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November 18, 2013, 04:24:52 PM |
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waiting for the correction
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mb300sd
Legendary
Offline
Activity: 1260
Merit: 1000
Drunk Posts
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November 18, 2013, 04:25:12 PM |
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My productivity these last few days has been 0... All free time is spent staring at charts.
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chrsjrcj
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November 18, 2013, 04:25:29 PM |
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Litcoin breaks $7! The whole crypt-currency space is going parabolic.  Keiser put a $50 target on LTC. Pump, pump, pump it up! Glad I hoarded some LTC. +1 Me too! You do realize that long term wise you are losing money by holding LTC instead of BTC, right? At the moment, yes. That's why I only put a very small % of my BTC into LTC. No reason not to have a an alt-coin hedge. |
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Dargumin
Member
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Activity: 107
Merit: 10
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November 18, 2013, 04:26:08 PM |
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waiting for the correction
Do you have a bot that posts words to this effect every 3 hours? Getting really boring! |
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Crazy
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November 18, 2013, 04:26:32 PM |
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I have heard price was not sustainable since $13/btc, and guess... we are at $640 and going up, and price will be sustainable at $1000 and $10000 because more people are buying that selling, that's pure logic.
Do you know how much USD/day it will cost to sustain a price of $640? Or $1000? Have you done that math? You do know that BTC is still inflationary, right? |
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RoadStress
Legendary
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Activity: 1904
Merit: 1007
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November 18, 2013, 04:27:21 PM |
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I have heard price was not sustainable since $13/btc, and guess... we are at $640 and going up, and price will be sustainable at $1000 and $10000 because more people are buying that selling, that's pure logic.
Do you know how much USD/day it will cost to sustain a price of $640? Or $1000? Have you done that math? You do know that BTC is still inflationary, right? 3600 bitcoins per day * 640=2m$ per day to sustain it? |
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Coinseeker
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November 18, 2013, 04:27:41 PM |
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Litcoin breaks $7! The whole crypt-currency space is going parabolic. Keiser put a $50 target on LTC. Pump, pump, pump it up! Glad I hoarded some LTC. +1 Me too! You do realize that long term wise you are losing money by holding LTC instead of BTC, right? I'm a day trader. Thus ATM, Litecoin profits are dwarfing BTC. |
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ardana123
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November 18, 2013, 04:27:46 PM |
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How can you see the amount of coins left for sale on btc china?
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Carlor
Newbie
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Activity: 28
Merit: 0
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November 18, 2013, 04:28:17 PM |
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My productivity these last few days has been 0... All free time is spent staring at charts.
Haha. Sounds familiar  Do you have a bot that posts words to this effect eevry 3 hours? Getting really boring! Apparently somebody regrets selling all his btc's at 200 $ |
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Crazy
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November 18, 2013, 04:28:24 PM |
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3600 bitcoins per day * 640=2m$ per day to sustain it?
At least. That's new money, based entirely around speculative movement, not utility. |
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YoYa
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November 18, 2013, 04:28:46 PM |
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RoadStress
Legendary
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Activity: 1904
Merit: 1007
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November 18, 2013, 04:29:40 PM |
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3600 bitcoins per day * 640=2m$ per day to sustain it?
At least. That's new money, based entirely around speculative movement, not utility. Do we know how much money per day we had the last 3 weeks? 2m$ per day doesn't seem too much with this rapid increase. Many walls were eaten and if we consider that not all mined coins will sell the same day then it's a lot less. |
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Crazy
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November 18, 2013, 04:31:11 PM |
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3600 bitcoins per day * 640=2m$ per day to sustain it?
At least. That's new money, based entirely around speculative movement, not utility. Do we know how much money per day we had the last 3 weeks? 2m$ per day doesn't seem too much with this rapid increase. Many walls were eaten and if we consider that not all mined coins will sell the same day then it's a lot less. No I don't believe that $2m/day was a serious issue these past few days/weeks, but that's the nature of a bubble, everyone is rushing. But the more that rush in the more money it costs on a daily basis to sustain it and eventually, the new money won't feel safe. When that happens, the slow and steady decent will begin, or it'll come tumbling down. |
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BRADLEYPLOOF
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November 18, 2013, 04:31:16 PM |
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3600 bitcoins per day * 640=2m$ per day to sustain it?
At least. That's new money, based entirely around speculative movement, not utility. Do we know how much money per day we had the last 3 weeks? 2m$ per day doesn't seem too much with this rapid increase. Many walls were eaten and if we consider that not all mined coins will sell the same day then it's a lot less. Who in their stupid minds would sell off their mined coins? |
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Spaceman_Spiff
Legendary
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Activity: 1638
Merit: 1001
₪``Campaign Manager´´₪
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November 18, 2013, 04:32:06 PM |
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Are you going somewhere with these arguments? What is the point?
I guess the point is that the price of 600 is simply unsustainable for Bitcoin, and not a lot of people understand this. Or, 600 is sustainable as long as you have 2 million dollars daily of new investments in Bitcoin. man, you guys sound like experts in the 90ies figuring out that mobile phones will never take off since they use to much energy. Have I ever said bitcoin wouldn't take off? |
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Crazy
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November 18, 2013, 04:32:17 PM |
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Who in their stupid minds would sell off their mined coins?
Someone who has to pay the bill. They're not free to mine, you know that huh? |
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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November 18, 2013, 04:32:24 PM |
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3600 bitcoins per day * 640=2m$ per day to sustain it?
At least. That's new money, based entirely around speculative movement, not utility. this is why bears are going are getting killed bitcoin has no utility!? BAHAHAHAHAHAHAHA |
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Crazy
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November 18, 2013, 04:34:06 PM |
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this is why bears are going are getting killed
bitcoin has no utility!?
BAHAHAHAHAHAHAHA
Outside of turning "some money" into "more money," yes the utility is very limited. Hence why 99% of your day to day transactions don't occur in BTC. |
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RoadStress
Legendary
Offline
Activity: 1904
Merit: 1007
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November 18, 2013, 04:36:06 PM |
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3600 bitcoins per day * 640=2m$ per day to sustain it?
At least. That's new money, based entirely around speculative movement, not utility. Do we know how much money per day we had the last 3 weeks? 2m$ per day doesn't seem too much with this rapid increase. Many walls were eaten and if we consider that not all mined coins will sell the same day then it's a lot less. No I don't believe that $2m/day was a serious issue these past few days/weeks, but that's the nature of a bubble, everyone is rushing. But the more that rush in the more money it costs on a daily basis to sustain it and eventually, the new money won't feel safe. When that happens, the slow and steady decent will begin, or it'll come tumbling down. Why are you comparing regular models with Bitcoin? Why is this a bubble and not a mass adoption somewhere on Earth? What are the differences? How do you know now there are just people rushing in and not wider bitcoin usage? |
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