kingcrimson (OP)
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August 06, 2013, 08:34:16 PM |
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I think $1000 is the price a lot of people are anticipating. It's high enough that much of the 'old money' in this economy will start to rumble and awaken from their slumber. I'm not sure if the price could reach a sustainable $1000, as it is the sweet spot for a lot of people. Thoughts?
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Walsoraj
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August 06, 2013, 08:38:05 PM |
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I think $1000 is the price a lot of people are anticipating. It's high enough that much of the 'old money' in this economy will start to rumble and awaken from their slumber. I'm not sure if the price could reach a sustainable $1000, as it is the sweet spot for a lot of people. Thoughts?
If it goes to $1000, it will hit $10,000 in a matter of hours. Maybe minutes |
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Chalkbot
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August 06, 2013, 08:41:52 PM |
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If it goes to $1000, it will hit $10,000 in a matter of hours. Maybe minutes
Obviously. |
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Jaxkr
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August 06, 2013, 08:42:44 PM |
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If it goes to $1000, it will hit $10,000 in a matter of hours. Maybe minutes
Obviously. Wait, why would this happen? I thought people would be dumping. |
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rampantparanoia
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August 06, 2013, 08:43:50 PM |
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If it goes to $1000, it will hit $10,000 in a matter of hours. Maybe minutes
Obviously. Wait, why would this happen? I thought people would be dumping. One man's dump is another man's treasure... and the cycle repeats |
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kingcrimson (OP)
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August 06, 2013, 08:45:44 PM |
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That is a good point. To reach $1000, you would start to see the beginning of institutional investors, and then whales following other whales. Could get crazy fast.
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terman45x
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August 06, 2013, 08:50:20 PM |
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I think $1000 is the price a lot of people are anticipating. It's high enough that much of the 'old money' in this economy will start to rumble and awaken from their slumber. I'm not sure if the price could reach a sustainable $1000, as it is the sweet spot for a lot of people. Thoughts?
Many are aware of this so sell right before $1000. So by this logic, $1000 will never happen |
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cp1
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August 06, 2013, 08:56:46 PM |
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If everyone cashes out, no one will be able to cash out.
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masyveonk
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https://bmy.guide
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August 06, 2013, 08:58:55 PM |
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If it goes to $1000, it will hit $10,000 in a matter of hours. Maybe minutes
Obviously. Wait, why would this happen? I thought people would be dumping. One man's dump is another man's treasure... and the cycle repeats Cycle? Seems like a pyramid when everyone try to sell at higher price than he bought at  |
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Heutenamos
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August 06, 2013, 09:09:00 PM |
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If it goes to $1000, it will hit $10,000 in a matter of hours. Maybe minutes
Obviously. Wait, why would this happen? I thought people would be dumping. One man's dump is another man's treasure... and the cycle repeats Cycle? Seems like a pyramid when everyone try to sell at higher price than he bought at Not everyone. Many buys because they need specific goods to be bought via Bitcoins And there are those who sell lower because they fear the price will go even lower |
yo
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ElectricMucus
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Marketing manager - GO MP
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August 06, 2013, 09:10:52 PM |
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I think $1000 is the price a lot of people are anticipating. It's high enough that much of the 'old money' in this economy will start to rumble and awaken from their slumber. I'm not sure if the price could reach a sustainable $1000, as it is the sweet spot for a lot of people. Thoughts?
If it goes to $1000, it will hit $10,000 in a matter of hours. Maybe minutes And graham's number within a few seconds. |
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nobbynobbynoob
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August 06, 2013, 09:13:01 PM |
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And at $10k+ per BTC there might be no need to "cash out" since bitcoin will be liquid enough by that time.
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jerelimZ
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August 06, 2013, 09:28:07 PM |
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I think $1000 is the price a lot of people are anticipating. It's high enough that much of the 'old money' in this economy will start to rumble and awaken from their slumber. I'm not sure if the price could reach a sustainable $1000, as it is the sweet spot for a lot of people. Thoughts?
If it goes to $1000, it will hit $10,000 in a matter of hours. Maybe minutes And graham's number within a few seconds. You got it wrong. It should be: If it goes to $1000, it will hit $100 in a matter of hours. $10 maybe minutes and zero within a few seconds. |
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marvinrouge
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August 06, 2013, 09:29:03 PM |
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But hey, that was you already !!!!!  |
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BitChick
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August 06, 2013, 09:48:19 PM |
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I don't know. Some will sell at $1000 for sure. I might sell some.  I think that as more people start hearing about Bitcoin and they see how much value there is in them more will want them and there will be less to go around and therefore the price will be sustained, even at $1000. Also, people are strange. As the price goes up more people panic and want to buy because they are fearful they might lose out on the next big rise. |
1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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Coinseeker
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August 06, 2013, 10:34:21 PM |
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Fundamentally, Bitcoin markets still have a problem. And that problem is that a few hold so many coins. It doesn't matter what small fish do, when whales start selling, everyone will follow because the small fish can not create enough buying pressure to stop it. We've seen that with every crash. Plus many small fish are weak hands and will follow whatever everyone else is doing anyway.
Bottom line, if whales sell at $1000, everyone else will try to sell too. And many wont get out in time, just like the $260 crash. If whales start big buying, so will everyone else. All the talk about new people and media attention, blah, blah, blah...is pointless. If they are not new whales entering the market, it won't do anything to change the trend created by the whales.
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If your ignore button isn't glowing, you're doing it wrong.
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kingcrimson (OP)
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August 06, 2013, 10:39:45 PM |
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The whales will have to be mega whales, Goldman Sachs and the like
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phatsphere
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August 06, 2013, 10:43:16 PM |
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we aren't even solid in the 100+ range (since bitstamp is below it) and you are already talking about the next order of magnitude? wise dumpers dump before that, so, no, that won't happen. it will be much longer until we reach 1000 than you think. much longer …
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SgtSpike
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Activity: 1400
Merit: 1005
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August 06, 2013, 10:56:02 PM |
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Fundamentally, Bitcoin markets still have a problem. And that problem is that a few hold so many coins. It doesn't matter what small fish do, when whales start selling, everyone will follow because the small fish can not create enough buying pressure to stop it. We've seen that with every crash. Plus many small fish are weak hands and will follow whatever everyone else is doing anyway.
Bottom line, if whales sell at $1000, everyone else will try to sell too. And many wont get out in time, just like the $260 crash. If whales start big buying, so will everyone else. All the talk about new people and media attention, blah, blah, blah...is pointless. If they are not new whales entering the market, it won't do anything to change the trend created by the whales.
Really we should be thankful any time that whales are selling out, because it means they are distributing their "hoard" of Bitcoins to many other people. |
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