Bitcoin Forum
November 18, 2024, 04:54:42 PM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Poll
Question: Price Target for Nov. 30, 2024:
<$75K - 3 (3.8%)
$75K to $80K - 1 (1.3%)
$80K to $85K - 2 (2.5%)
$85K to $90K - 9 (11.3%)
$90K to $95K - 12 (15%)
$95K to $100K - 13 (16.3%)
>$100K - 40 (50%)
Total Voters: 80

Pages: « 1 ... 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 [1994] 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 ... 33956 »
  Print  
Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26498065 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
hlynur
Hero Member
*****
Offline Offline

Activity: 770
Merit: 501



View Profile
November 10, 2013, 08:27:27 PM
 #39861

.....so should i be buying? i sold some last night and hit one of my buy targets on the way down. not sure if i should keep holding dollars or get back all in... decisions, decisions.....  Huh

no daytrader here, but if you're unsure stick with 50/50 fiat/btc.
so far i never went wrong with that position.
Boxman90
Hero Member
*****
Offline Offline

Activity: 518
Merit: 500


View Profile
November 10, 2013, 08:27:55 PM
 #39862

My rule for buying back in after a bubble pop: Wait for it to stabilize. Not going to buy in mass panic/mania swings.
theonewhowaskazu
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250


View Profile
November 10, 2013, 08:29:15 PM
 #39863


Quote from: Tyler Durden

As Bitcoin Plunges 25% On Government Scrutiny, The First BTC "Fair Value" Reco Has A Stunning Price Target

Let’s use a broad guesstimate. One Bitcoin should theoretically be worth 700 ounces of gold or pretty close to $1,000,000, if we adjust existing supply of both to equal eachother. One BTC is currently worth 0.14 ounces of gold. That gives BTC an upside of 5000 times to equal the current price of gold, supply adjusted. Clearly, I and everyone else believes that Gold may well be much higher than here in the next 5 to 10 years, thus versus the US Dollar the upside for BTC could be multiples of that. Now, before you shake your head, simply go back to the chart of Gold versus the US Dollar and just recognise that it has risen 8750% since the 1920s. And just remember that Microsoft rose 61,000% from its IPO to it’s peak. Considering what we know about the world, I personally believe that Bitcoin may well explode in value as more and more people begin to use it. If you stuck $5,000 into Bitcoins and each Bitcoin did go up to a gold equivalent of let’s say, only 100 ounces of gold (not the potential fair value of 700), then at current prices your Bitcoin stash would be worth $3.3m.

http://www.zerohedge.com/news/2013-11-10/bitcoin-plunges-25-government-scrutiny-first-btc-fair-value-reco-has-stunning-price-




http://www.youtube.com/watch?v=l91ISfcuzDw

Wouldn't gold have to halve in price, though?
proudhon
Legendary
*
Offline Offline

Activity: 2198
Merit: 1311



View Profile
November 10, 2013, 08:31:09 PM
 #39864


Quote from: Tyler Durden

As Bitcoin Plunges 25% On Government Scrutiny, The First BTC "Fair Value" Reco Has A Stunning Price Target

Let’s use a broad guesstimate. One Bitcoin should theoretically be worth 700 ounces of gold or pretty close to $1,000,000, if we adjust existing supply of both to equal eachother. One BTC is currently worth 0.14 ounces of gold. That gives BTC an upside of 5000 times to equal the current price of gold, supply adjusted. Clearly, I and everyone else believes that Gold may well be much higher than here in the next 5 to 10 years, thus versus the US Dollar the upside for BTC could be multiples of that. Now, before you shake your head, simply go back to the chart of Gold versus the US Dollar and just recognise that it has risen 8750% since the 1920s. And just remember that Microsoft rose 61,000% from its IPO to it’s peak. Considering what we know about the world, I personally believe that Bitcoin may well explode in value as more and more people begin to use it. If you stuck $5,000 into Bitcoins and each Bitcoin did go up to a gold equivalent of let’s say, only 100 ounces of gold (not the potential fair value of 700), then at current prices your Bitcoin stash would be worth $3.3m.

http://www.zerohedge.com/news/2013-11-10/bitcoin-plunges-25-government-scrutiny-first-btc-fair-value-reco-has-stunning-price-




For 700 ounces of gold a BTC I'll sell a considerable portion of my Bitcoins.

I suspect that if BTC ever reached that valuation its dominance as an ideal form of money, and its acceptance across just about every industry from which you might want things would be so broad that you wouldn't want to sell any portion of your bitcoin for any other currency.  Instead, you'd just spend them for the things you want.
MoreFun
Legendary
*
Offline Offline

Activity: 1008
Merit: 1003


WePower.red


View Profile
November 10, 2013, 08:36:11 PM
 #39865

Spending is the same as selling from your standing point. When you spend you set the price as you value the thing you spend it for some price.
wachtwoord
Legendary
*
Offline Offline

Activity: 2338
Merit: 1136


View Profile
November 10, 2013, 08:41:55 PM
 #39866


Quote from: Tyler Durden

As Bitcoin Plunges 25% On Government Scrutiny, The First BTC "Fair Value" Reco Has A Stunning Price Target

Let’s use a broad guesstimate. One Bitcoin should theoretically be worth 700 ounces of gold or pretty close to $1,000,000, if we adjust existing supply of both to equal eachother. One BTC is currently worth 0.14 ounces of gold. That gives BTC an upside of 5000 times to equal the current price of gold, supply adjusted. Clearly, I and everyone else believes that Gold may well be much higher than here in the next 5 to 10 years, thus versus the US Dollar the upside for BTC could be multiples of that. Now, before you shake your head, simply go back to the chart of Gold versus the US Dollar and just recognise that it has risen 8750% since the 1920s. And just remember that Microsoft rose 61,000% from its IPO to it’s peak. Considering what we know about the world, I personally believe that Bitcoin may well explode in value as more and more people begin to use it. If you stuck $5,000 into Bitcoins and each Bitcoin did go up to a gold equivalent of let’s say, only 100 ounces of gold (not the potential fair value of 700), then at current prices your Bitcoin stash would be worth $3.3m.

http://www.zerohedge.com/news/2013-11-10/bitcoin-plunges-25-government-scrutiny-first-btc-fair-value-reco-has-stunning-price-




For 700 ounces of gold a BTC I'll sell a considerable portion of my Bitcoins.

I suspect that if BTC ever reached that valuation its dominance as an ideal form of money, and its acceptance across just about every industry from which you might want things would be so broad that you wouldn't want to sell any portion of your bitcoin for any other currency.  Instead, you'd just spend them for the things you want.

Why do you think I didn't say all? At that point I would no longer choose the most profitable investment strategy but the most risk averse one to avoid ever falling below they level of buying power I would have. If you double your buying power at that point doesn't change your life at all so it's not worth any sort of risk. Therefore you spread your portfolio.

Right now, I'm very focused Wink
the_sunship
Full Member
***
Offline Offline

Activity: 230
Merit: 100


View Profile
November 10, 2013, 08:42:49 PM
Last edit: November 10, 2013, 09:10:53 PM by the_sunship
 #39867

what's interesting is the psychological effect of these kinds of numbers. I mean if people get it in their head that bitcoin COULD be worth a million, then 1000 seems pretty realistic (especially now at 300+). And if/when we hit 1000, then the idea of going to 10 thousand seems realistic, and so on, and so on. I mean, if the idea gets seeded and people believe it, it does seem to become a self-fulfilling prophecy.

You know there's the story of the runner Roger Bannister - who broke the 4 minute mile when everyone said it wasn't possible. Even doctors at the time were saying that the human body could never function at that kind of speed. Within 46 days of him breaking the record, another person broke it, then another, etc. Today this is not so uncommon (although still amazing). The power of belief can't be underestimated here. The internet, which seems so obvious now, had it's firm disbelievers as well in 1993.

wachtwoord
Legendary
*
Offline Offline

Activity: 2338
Merit: 1136


View Profile
November 10, 2013, 08:44:16 PM
 #39868

what's interesting is the psychological effect of these kinds of numbers. I mean if people get it in their head that bitcoin COULD be worth a million, then 1000 seems pretty realistic (especially now at 300+). And if/when we hit 1000, then the idea of going to 10 thousand seems realistic, and so on, and so on. I mean, if the idea gets seeded and people believe it, it does seem to become a self-fulfilling prophecy.

You know there's the story of the runner Roger Bannister - who broke the 4 minute mile when everyone said it wasn't possible. Even doctors at the time were saying that the human body could never function at that kind of speed. Within a 46 days of him breaking the record, another person broke it, then another, etc. Today this is not so uncommon (although still amazing). The power of belief can't be underestimated here. The internet, which seems so obvious now, had it's firm disbelievers as well in 1993.



There is no spoon.
freethink2013
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
November 10, 2013, 08:44:32 PM
 #39869

what's interesting is the psychological effect of these kinds of numbers. I mean if people get it in their head that bitcoin COULD be worth a million, then 1000 seems pretty realistic (especially now at 300+). And if/when we hit 1000, then the idea of going to 10 thousand seems realistic, and so on, and so on. I mean, if the idea gets seeded and people believe it, it does seem to become a self-fulfilling prophecy.

You know there's the story of the runner Roger Bannister - who broke the 4 minute mile when everyone said it wasn't possible. Even doctors at the time were saying that the human body could never function at that kind of speed. Within a 46 days of him breaking the record, another person broke it, then another, etc. Today this is not so uncommon (although still amazing). The power of belief can't be underestimated here. The internet, which seems so obvious now, had it's firm disbelievers as well in 1993.



super post
Feri22
Hero Member
*****
Offline Offline

Activity: 748
Merit: 500


View Profile
November 10, 2013, 08:49:38 PM
 #39870

what's interesting is the psychological effect of these kinds of numbers. I mean if people get it in their head that bitcoin COULD be worth a million, then 1000 seems pretty realistic (especially now at 300+). And if/when we hit 1000, then the idea of going to 10 thousand seems realistic, and so on, and so on. I mean, if the idea gets seeded and people believe it, it does seem to become a self-fulfilling prophecy.

You know there's the story of the runner Roger Bannister - who broke the 4 minute mile when everyone said it wasn't possible. Even doctors at the time were saying that the human body could never function at that kind of speed. Within a 46 days of him breaking the record, another person broke it, then another, etc. Today this is not so uncommon (although still amazing). The power of belief can't be underestimated here. The internet, which seems so obvious now, had it's firm disbelievers as well in 1993.



There is no spoon.

 Grin
SheHadMANHands
Legendary
*
Offline Offline

Activity: 1168
Merit: 1000


View Profile
November 10, 2013, 08:52:48 PM
 #39871

what's interesting is the psychological effect of these kinds of numbers. I mean if people get it in their head that bitcoin COULD be worth a million, then 1000 seems pretty realistic (especially now at 300+). And if/when we hit 1000, then the idea of going to 10 thousand seems realistic, and so on, and so on. I mean, if the idea gets seeded and people believe it, it does seem to become a self-fulfilling prophecy.

You know there's the story of the runner Roger Bannister - who broke the 4 minute mile when everyone said it wasn't possible. Even doctors at the time were saying that the human body could never function at that kind of speed. Within a 46 days of him breaking the record, another person broke it, then another, etc. Today this is not so uncommon (although still amazing). The power of belief can't be underestimated here. The internet, which seems so obvious now, had it's firm disbelievers as well in 1993.



Very spot on.

I notice this every time I see a new "Did I miss the opportunity" or "Is it too late to get in" type of post.  These people are all thinking in the extreme short term.
ChartBuddy
Legendary
*
Offline Offline

Activity: 2366
Merit: 1820


1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ


View Profile
November 10, 2013, 09:01:37 PM
 #39872

hlynur
Hero Member
*****
Offline Offline

Activity: 770
Merit: 501



View Profile
November 10, 2013, 09:13:28 PM
 #39873

what's interesting is the psychological effect of these kinds of numbers. I mean if people get it in their head that bitcoin COULD be worth a million, then 1000 seems pretty realistic (especially now at 300+). And if/when we hit 1000, then the idea of going to 10 thousand seems realistic, and so on, and so on. I mean, if the idea gets seeded and people believe it, it does seem to become a self-fulfilling prophecy.

You know there's the story of the runner Roger Bannister - who broke the 4 minute mile when everyone said it wasn't possible. Even doctors at the time were saying that the human body could never function at that kind of speed. Within a 46 days of him breaking the record, another person broke it, then another, etc. Today this is not so uncommon (although still amazing). The power of belief can't be underestimated here. The internet, which seems so obvious now, had it's firm disbelievers as well in 1993.

good example.
same thing with hyperinflation.
Nobody can really imagine their children playing with hills of worthless fiat at some point in the future.
Perception of human brain is limited to the horizon of experiences it directly saved so far and can only be widened by absorbing passed on essays or stories of contemporary witnesses of different ages.
Empathizing these informations helps to see present age in the overall context of human history and sensitize to subliminal fundamental changes in its ecosystem,
no matter if they're taking years or decades.

Sword Smith
Sr. Member
****
Offline Offline

Activity: 406
Merit: 286


Neptune, Scalable Privacy


View Profile WWW
November 10, 2013, 09:23:59 PM
 #39874


Quote from: Tyler Durden

As Bitcoin Plunges 25% On Government Scrutiny, The First BTC "Fair Value" Reco Has A Stunning Price Target

Let’s use a broad guesstimate. One Bitcoin should theoretically be worth 700 ounces of gold or pretty close to $1,000,000, if we adjust existing supply of both to equal eachother. One BTC is currently worth 0.14 ounces of gold. That gives BTC an upside of 5000 times to equal the current price of gold, supply adjusted. Clearly, I and everyone else believes that Gold may well be much higher than here in the next 5 to 10 years, thus versus the US Dollar the upside for BTC could be multiples of that. Now, before you shake your head, simply go back to the chart of Gold versus the US Dollar and just recognise that it has risen 8750% since the 1920s. And just remember that Microsoft rose 61,000% from its IPO to it’s peak. Considering what we know about the world, I personally believe that Bitcoin may well explode in value as more and more people begin to use it. If you stuck $5,000 into Bitcoins and each Bitcoin did go up to a gold equivalent of let’s say, only 100 ounces of gold (not the potential fair value of 700), then at current prices your Bitcoin stash would be worth $3.3m.

http://www.zerohedge.com/news/2013-11-10/bitcoin-plunges-25-government-scrutiny-first-btc-fair-value-reco-has-stunning-price-



Hold on, guys! Zerohedge have been anti-bitcoin for as long as I can remember. having them onboard is a pretty big deal, right?
Walsoraj
Hero Member
*****
Offline Offline

Activity: 686
Merit: 500


Ultranode


View Profile
November 10, 2013, 09:29:53 PM
Last edit: November 10, 2013, 09:45:17 PM by Walsoraj
 #39875


Hold on, guys! Zerohedge have been anti-bitcoin for as long as I can remember. having them onboard is a pretty big deal, right?

A large portion of the doomsday prepper crowd blindly follow zerohedge. So, yes.
freethink2013
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
November 10, 2013, 09:30:49 PM
 #39876


Quote from: Tyler Durden

As Bitcoin Plunges 25% On Government Scrutiny, The First BTC "Fair Value" Reco Has A Stunning Price Target

Let’s use a broad guesstimate. One Bitcoin should theoretically be worth 700 ounces of gold or pretty close to $1,000,000, if we adjust existing supply of both to equal eachother. One BTC is currently worth 0.14 ounces of gold. That gives BTC an upside of 5000 times to equal the current price of gold, supply adjusted. Clearly, I and everyone else believes that Gold may well be much higher than here in the next 5 to 10 years, thus versus the US Dollar the upside for BTC could be multiples of that. Now, before you shake your head, simply go back to the chart of Gold versus the US Dollar and just recognise that it has risen 8750% since the 1920s. And just remember that Microsoft rose 61,000% from its IPO to it’s peak. Considering what we know about the world, I personally believe that Bitcoin may well explode in value as more and more people begin to use it. If you stuck $5,000 into Bitcoins and each Bitcoin did go up to a gold equivalent of let’s say, only 100 ounces of gold (not the potential fair value of 700), then at current prices your Bitcoin stash would be worth $3.3m.

http://www.zerohedge.com/news/2013-11-10/bitcoin-plunges-25-government-scrutiny-first-btc-fair-value-reco-has-stunning-price-



Hold on, guys! Zerohedge have been anti-bitcoin for as long as I can remember. having them onboard is a pretty big deal, right?

No they haven't. There have been people on zerohedge that are anti-bitcoin but I'd say that zerohedge as a platform is very positive on bitcoin.
spooderman
Legendary
*
Offline Offline

Activity: 1652
Merit: 1029


View Profile WWW
November 10, 2013, 09:31:24 PM
 #39877

This "burst" corresponds to march 7th IMO. Got a long way to go....got another bear trap in a week or so coming. Up to the thousands in a month or so....then pop down to 400s. (If last pattern repeats).
freethink2013
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
November 10, 2013, 09:41:29 PM
 #39878

honestly thought I bet gox wouldn't hit 266 again this week but looking back it seems like I said it wouldn't go below 300. Can't believe no-one took that offer up
jojo69
Legendary
*
Offline Offline

Activity: 3360
Merit: 4663


diamond-handed zealot


View Profile
November 10, 2013, 09:43:35 PM
 #39879



Perception of human brain is limited to the horizon of experiences it directly saved so far and can only be widened by absorbing passed on essays or stories of contemporary witnesses of different ages.


actually, there is another way...ever been to silkroad?
freethink2013
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
November 10, 2013, 09:47:26 PM
 #39880

btc-e going to hit 300 tonight by the looks of it (294 currently)

gox:332.5
stamp:314.5

bears: they don't justy shit in the woods they shit themselves everywhere.

where's the $1xx prices we were told about? huh bears?
Pages: « 1 ... 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 [1994] 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 ... 33956 »
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!