elux
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Activity: 1458
Merit: 1006
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December 13, 2016, 02:22:34 AM |
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Waiting for a breakout:
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PoolMinor
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Activity: 1843
Merit: 1338
XXXVII Fnord is toast without bread
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December 13, 2016, 02:28:51 AM |
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My money wont be in till Friday, need this thing to chill!
Has been ~18 months to get yer money in........
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Alley
Legendary
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Activity: 910
Merit: 1000
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December 13, 2016, 02:29:03 AM |
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But I thought circle said bitcoin never caught on?
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Fakhoury
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Activity: 1386
Merit: 1027
Permabull Bitcoin Investor
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December 13, 2016, 02:32:38 AM |
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But I thought circle said bitcoin never caught on?
By the way, most probably they are using Bitcoin but "Behind the scenes", in order to be mainstream, they must do this, at least for now.
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JayJuanGee
Legendary
Online
Activity: 3864
Merit: 11013
Self-Custody is a right. Say no to"Non-custodial"
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December 13, 2016, 02:33:02 AM |
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There has really been no big news (real or not) that would get people to enthusiastically rush to buy, thus causing a huge spike in price.
There is certainly upward pressure and optimism which is necessary for that but that is just one part.
I would say that the current upward momentum is due to the upward direction over the past year and the hopes that something big can push it higher. If the price were slowly falling over the past year there would not be this type of optimism. Even at this price.
Although I would love the price to jump to $3,000, I would rather have a solid price of $900-$1200 backed by adoption as opposed to short term speculation. If the price jumped to $3,000-$5,000 most people would be wanting to cash out into fiat at a huge profit. I would even consider doing so at such a high price. But then what do I have...a bunch of lousy fiat. I would rather have a solid decentralized cryptocurrency that I can spend in more places than being a fiat millionaire.
Markets do not work like the way you are wishing them to work. Sure it would be nice to experience a nice gradual price rise, but markets are violent, and we cannot change that aspect of speculation in such a bitcoin market that has already been created (and allows for a lot of crazy speculation, in both directions, as you already indicated).
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Elwar
Legendary
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Activity: 3598
Merit: 2386
Viva Ut Vivas
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December 13, 2016, 03:07:20 AM |
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Markets do not work like the way you are wishing them to work.
Sure it would be nice to experience a nice gradual price rise, but markets are violent, and we cannot change that aspect of speculation in such a bitcoin market that has already been created (and allows for a lot of crazy speculation, in both directions, as you already indicated).
A mature currency should eventually become less violent. In all reality the price is a lot more steady. While previous swings would be 50% of the price when it was under $5 to swings of 20% in the $100s...today 2-3% is significant. I used to day trade when the price was jumping around from $3 to $7. I was definitely not an expert. I learned my lesson then.
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JayJuanGee
Legendary
Online
Activity: 3864
Merit: 11013
Self-Custody is a right. Say no to"Non-custodial"
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December 13, 2016, 03:17:57 AM |
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Markets do not work like the way you are wishing them to work.
Sure it would be nice to experience a nice gradual price rise, but markets are violent, and we cannot change that aspect of speculation in such a bitcoin market that has already been created (and allows for a lot of crazy speculation, in both directions, as you already indicated).
A mature currency should eventually become less violent. In all reality the price is a lot more steady. While previous swings would be 50% of the price when it was under $5 to swings of 20% in the $100s...today 2-3% is significant. I used to day trade when the price was jumping around from $3 to $7. I was definitely not an expert. I learned my lesson then. O.k. I understand and accept your point that bitcoin has seemed to become a bit more stable and the violent price swings have seemed to become less violent, but even you know that bitcoin is no where near becoming close to serving as some kind of stable currency... and that can be determined by it's mere small market cap of less than $13 billion. We may have gotten lucky to experience some fewer bouts of extreme volatility, but it seems to be just wishful thinking to expect that bitcoin is in such a state that it could evolve in a kind of peaceful upwards trajectory.. It is just not going to happen.. The chances of such peaceful transition are probably quite lower than 1%, so why attempt to project such an unlikely scenario? Sure any increase in bitcoin's market cap is going to bring some additional stability, but bitcoin would need to experience far in excess of 100x increase in it's market cap to become less susceptible to volatility (maybe even 1000x could be in the minimum range?) Of course, every significant percentage increase in market cap does help to lessen bitcoin's volatility, and probably the greater diversification of exchanges help too, but I continue to think that it is going to take a while to reach a less volatile state (such as a kind that you seem to be referring to)
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Elwar
Legendary
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Activity: 3598
Merit: 2386
Viva Ut Vivas
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December 13, 2016, 03:23:25 AM |
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Markets do not work like the way you are wishing them to work.
Sure it would be nice to experience a nice gradual price rise, but markets are violent, and we cannot change that aspect of speculation in such a bitcoin market that has already been created (and allows for a lot of crazy speculation, in both directions, as you already indicated).
A mature currency should eventually become less violent. In all reality the price is a lot more steady. While previous swings would be 50% of the price when it was under $5 to swings of 20% in the $100s...today 2-3% is significant. I used to day trade when the price was jumping around from $3 to $7. I was definitely not an expert. I learned my lesson then. O.k. I understand and accept your point that bitcoin has seemed to become a bit more stable and the violent price swings have seemed to become less violent, but even you know that bitcoin is no where near becoming close to serving as some kind of stable currency... and that can be determined by it's mere small market cap of less than $13 billion. We may have gotten lucky to experience some fewer bouts of extreme volatility, but it seems to be just wishful thinking to expect that bitcoin is in such a state that it could evolve in a kind of peaceful upwards trajectory.. It is just not going to happen.. The chances of such peaceful transition are probably quite lower than 1%, so why attempt to project such an unlikely scenario? Sure any increase in bitcoin's market cap is going to bring some additional stability, but bitcoin would need to experience far in excess of 100x increase in it's market cap to become less susceptible to volatility (maybe even 1000x could be in the minimum range?) Of course, every significant percentage increase in market cap does help to lessen bitcoin's volatility, and probably the greater diversification of exchanges help too, but I continue to think that it is going to take a while to reach a less volatile state (such as a kind that you seem to be referring to) Agreed. It is wishful thinking on my part. A 1000x increase to become a stable currency is fine by me too Make it so.
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Vahnt
Newbie
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Activity: 49
Merit: 0
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December 13, 2016, 03:45:57 AM |
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Lol what a joke.
The moves on Huobi never fail to perplex me.
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Ted E. Bare
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December 13, 2016, 03:49:11 AM |
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Bull Vs. bear going on. My bet is on the bulls to win it.
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JayJuanGee
Legendary
Online
Activity: 3864
Merit: 11013
Self-Custody is a right. Say no to"Non-custodial"
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December 13, 2016, 04:12:55 AM |
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Markets do not work like the way you are wishing them to work.
Sure it would be nice to experience a nice gradual price rise, but markets are violent, and we cannot change that aspect of speculation in such a bitcoin market that has already been created (and allows for a lot of crazy speculation, in both directions, as you already indicated).
A mature currency should eventually become less violent. In all reality the price is a lot more steady. While previous swings would be 50% of the price when it was under $5 to swings of 20% in the $100s...today 2-3% is significant. I used to day trade when the price was jumping around from $3 to $7. I was definitely not an expert. I learned my lesson then. O.k. I understand and accept your point that bitcoin has seemed to become a bit more stable and the violent price swings have seemed to become less violent, but even you know that bitcoin is no where near becoming close to serving as some kind of stable currency... and that can be determined by it's mere small market cap of less than $13 billion. We may have gotten lucky to experience some fewer bouts of extreme volatility, but it seems to be just wishful thinking to expect that bitcoin is in such a state that it could evolve in a kind of peaceful upwards trajectory.. It is just not going to happen.. The chances of such peaceful transition are probably quite lower than 1%, so why attempt to project such an unlikely scenario? Sure any increase in bitcoin's market cap is going to bring some additional stability, but bitcoin would need to experience far in excess of 100x increase in it's market cap to become less susceptible to volatility (maybe even 1000x could be in the minimum range?) Of course, every significant percentage increase in market cap does help to lessen bitcoin's volatility, and probably the greater diversification of exchanges help too, but I continue to think that it is going to take a while to reach a less volatile state (such as a kind that you seem to be referring to) Agreed. It is wishful thinking on my part. A 1000x increase to become a stable currency is fine by me too Make it so. I'm just saying that if we wish for less volatility we need increases in the market cap, and even though upwards price pressures are looking really good at the moment and in the past couple of months - nonetheless, we cannot even rest assured that the upwards is going to come.. even though we want that part too. I think that we just need to prepare for both ways, and act in our own self interests. If prices shot up to $3k or $5k.. I am going to sell coins, but I am not very likely to sell all of them... I sell a little bit all the way up, and tentatively, the most that I would sell would be in the 60% territory.. but I already have money in both bitcoin and in fiat that is prepared for price movements in either direction.. I would like more upwards, certainly, but currently my BTC/dollar allocation is at about 93% bitcoin and 7% fiat.. and even though I feel protected, I still get nervous when the price moves in either direction, and thinking that I should have allocated more in one direction or another.. so I think that it is just better to have a plan and attempt to stick with it as much as possible while maybe making small tweaks here and there based on expected and unexpected periods of volatility in either direction.
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AlexGR
Legendary
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Activity: 1708
Merit: 1049
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December 13, 2016, 05:27:34 AM |
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In other news:
Bitcoin Difficulty: 286,765,766,821 Estimated Next Difficulty: 309,647,895,807 (+7.98%) Adjust time: After 282 Blocks, About 1.8 days
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JimboToronto
Legendary
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Activity: 4158
Merit: 4811
You're never too old to think young.
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December 13, 2016, 08:46:12 AM |
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Jeezuz Murphy. Just got home from the bar (no getting lucky tonight) to see I missed some serious drama.
Up to $793 and down to $765 on Stamp, similar on other exchanges. Now we're right back where we were when I went out... $782USD/$1027CAD (Bitcoinwisdom).
The battle for $780 continues. Entertaining isn't it? Almost as much fun as alcohol.
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unknown04
Full Member
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Activity: 219
Merit: 100
Art is the triumph over chaos
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December 13, 2016, 09:14:40 AM |
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Jeezuz Murphy. Just got home from the bar (no getting lucky tonight) to see I missed some serious drama.
Up to $793 and down to $765 on Stamp, similar on other exchanges. Now we're right back where we were when I went out... $782USD/$1027CAD (Bitcoinwisdom).
The battle for $780 continues. Entertaining isn't it? Almost as much fun as alcohol.
ure drunk bro... rest well, and wake up to see $800
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JimboToronto
Legendary
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Activity: 4158
Merit: 4811
You're never too old to think young.
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December 13, 2016, 09:53:38 AM |
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Jeezuz Murphy. Just got home from the bar (no getting lucky tonight) to see I missed some serious drama.
Up to $793 and down to $765 on Stamp, similar on other exchanges. Now we're right back where we were when I went out... $782USD/$1027CAD (Bitcoinwisdom).
The battle for $780 continues. Entertaining isn't it? Almost as much fun as alcohol.
ure drunk bro... rest well, and wake up to see $800 Thanx for your concern. Luckily I'm not really all that drunk... less than 20 beers and a few shots. Only the shots are even an issue and only because they were all different, one rye (Wiser's), one Irish (Jamieson's) and a shot of some kind of tequila. Needless to say, I didn't actually order any shots, they were all bought for me. I try to stick to beer, especially in my old age. Don't want to confuse the stomach with miscellaneous liquors. Now I'm on hangover prevention mode. I'm currently eating a nice flatiron steak with asparagus (Peru?) parsnip, yam, sweet potato, and Irish potato. $800 tomorrow? I certainly hope so. Tonight's obviously been a ride but we're already over $784USD/$1030CAD and rising. This ain't no silly little double top bouncing us back down. The assault on $780 continues. The walls are crumbling. Good night all. See you at the crack of noon.
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yefi
Legendary
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Activity: 2842
Merit: 1511
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December 13, 2016, 10:03:48 AM |
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Oo, ninja bears. Like a mini-boss. So YOU say. We know Rampion dixit'ed it, but we have no idea what ipse did! You don't wish to know the things Ipse gets up to with Tinky Winky, Laa-laa and Po when the cameras are off.
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madmat
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Activity: 966
Merit: 1000
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December 13, 2016, 10:16:21 AM |
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Thanx for your concern. Luckily I'm not really all that drunk... less than 20 beers and a few shots.
You don't need to be proud of your alcoholism.
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Ibian
Legendary
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Activity: 2268
Merit: 1278
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December 13, 2016, 11:06:11 AM |
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Thanx for your concern. Luckily I'm not really all that drunk... less than 20 beers and a few shots.
You don't need to be proud of your alcoholism. On the other hand you don't want to pass out after two beers either.
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600watt
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Activity: 2338
Merit: 2106
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December 13, 2016, 11:13:27 AM |
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Thanx for your concern. Luckily I'm not really all that drunk... less than 20 beers and a few shots.
You don't need to be proud of your alcoholism. On the other hand you don't want to pass out after two beers either. two of those are 6 liters. not sure if i could walk and talk with that.
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