Bitcoin Forum
December 06, 2016, 10:01:59 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 4 5 6 7 [8] 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 »  All
  Print  
Author Topic: Bitcoin will never reach $20 again  (Read 36942 times)
jtimon
Legendary
*
Offline Offline

Activity: 1246


View Profile WWW
August 06, 2011, 02:56:32 PM
 #141

$8.01 now..about a 10% plunge in the last 20 minutes.

So bad that bitoption is closed...If you're right you can make a lot of dollars shorting bitcoin.
I think Ruxum is going to add derivatives, I'll let you know.

Seriously, I think is going down because of the attack on mybitcoin, the attacker probably sold it all.
Maybe bit-pay and BTCinch selling too much?
I don't think so, but that's going to be bullish for btc in the long run anyway.

2 different forms of free-money: Freicoin (free of basic interest because it's perishable), Mutual credit (no interest because it's abundant)
1481061719
Hero Member
*
Offline Offline

Posts: 1481061719

View Profile Personal Message (Offline)

Ignore
1481061719
Reply with quote  #2

1481061719
Report to moderator
1481061719
Hero Member
*
Offline Offline

Posts: 1481061719

View Profile Personal Message (Offline)

Ignore
1481061719
Reply with quote  #2

1481061719
Report to moderator
1481061719
Hero Member
*
Offline Offline

Posts: 1481061719

View Profile Personal Message (Offline)

Ignore
1481061719
Reply with quote  #2

1481061719
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481061719
Hero Member
*
Offline Offline

Posts: 1481061719

View Profile Personal Message (Offline)

Ignore
1481061719
Reply with quote  #2

1481061719
Report to moderator
BTC Economist
Member
**
Offline Offline

Activity: 112


View Profile
August 06, 2011, 03:08:51 PM
 #142

OK BTC Economist, so let me try this way.  Lets say I'm well off, nice house, cars, business, family. Business makes me $350k per year after tax for the last 15 years, still growing steadily 10% yoy. Price of bitcoin is at $5.00 and I have a buy order of 1k willing to add 1k every $0.50 down to $1.50 where I would stop adding to my position. I would hold forever. If all would fill I have $26k on the line, with practically small chance of ever make it back.

Do you think I would care what your opinion is? Who are you? Are you a top trader at SAC ? You ever work at least at GS ?? Do you own a $10 mill yacht and will fly me out and explain to me why I shouldn't risk this $26k I'm willing to put on the line, because I like this bitcoin idea? Why should I listen to you what I do with less than a month of profits?

Well if you are just gambling, do as you please.  You don't have to listen to me.

When BTC soars, you need to be READY!  PM me to learn more about my new e-book, How to Create and Profit from the Second Bitcoin Bubble available exclusively to BTC forum members!

17JzkreEBYNHQM9tMTiUKCHANofwzHRLhP
shmadz
Legendary
*
Offline Offline

Activity: 1428


@theshmadz


View Profile
August 06, 2011, 03:16:17 PM
 #143

Well if you are just gambling, do as you please.  You don't have to listen to me.

Ummm, aren't all investments a form of gambling? I mean, sure it might be informed gambling, but come on man.

if "investing" in a beta stage, open-source project isn't gambling, then I don't know what it is...

maybe "donating" to the cause? I mean, at this point, all investors in bitcoin are essentially funding a start-up project, with the hopes that it succeeds and they will get paid off in the end.




If you have more money in bitcoin than you are comfortable with losing, then I think you need to re-evaluate your "investment" strategy.

"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
skyhigh
Full Member
***
Offline Offline

Activity: 142


View Profile
August 06, 2011, 03:40:34 PM
 #144

Thing is, everyone who joined after April and put money on the line is gambling. Especially people who bought coins when the price was above $15.00 and still haven't sold. Bitcoin for the masses is still totally new. Most of us got here when the price boomed from April $1 to June $30. Some started mining on a low scale, some went big, some started day trading on MtGox and some invested for the long run.

Since price ran up from April $1 to June $30 everyone who ever traded anything in their lives KNEW this was a bubble about to pop. When it did pop a smaller % of them KNEW bubble needs to deflate and we are still in this process today. You and I will agree on that. What we might not agree on is the future of the bitcoin. You as far as I read or understand, you think bitcoin has no future and price will plummet down to sub $1 and probably stay there forever, eventually it will die. Me on the other hand see a potencial in the future.

You might be right that bitcoin price will never reach $20 again, but that kind of speculation is just outright stupid to say. I figure you probably follow stocks and thing is that in most cases, like 85%+ you would be right. Once the stock ran its natural course it will most likely stay within a certain range forever. Not many run up exponentially for a while then totally collapse and run up again  in the near future. But bitcoin isn't a stock, its fundamentals are different. There is no trailing P/E we could associate it with or has earnings or profit margin or anything like that.

Bitcoin is not an investment, it's a trading vehicle designed to work regardless of it's price in fiat money. It's functionality doesn't change if its worth $1 or $100. People greed wants it to be worth more. Eventually bitcoin price will get low enough so fresh money added to the market will be able to meet up with the supply. I'm almost 100% certain that will ultimately happen. I think it will happen in the range from $1 to $5.

I won't start buying before $6.00. I would rather miss the whole thing and forget about bitcoins all together then buy above that price or EVER chase it higher. But that's just me. When/if I will start buying, I know already the whole plan, which I might fine tune as we go along, but I won't ever go outside my comfort zone. I know exactly how much I will buy, when, how much it will cost me and when I will/might sell. There isn't anyone who could influence me in a way that I would change my plan drastically. I would/will still read what people are saying but not react on it unless the price/volume tells me so. That's how I made money in the past and will do so in the future.
BTC Economist
Member
**
Offline Offline

Activity: 112


View Profile
August 06, 2011, 04:04:22 PM
 #145

Well if you are just gambling, do as you please.  You don't have to listen to me.

Ummm, aren't all investments a form of gambling? I mean, sure it might be informed gambling, but come on man.

if "investing" in a beta stage, open-source project isn't gambling, then I don't know what it is...

maybe "donating" to the cause? I mean, at this point, all investors in bitcoin are essentially funding a start-up project, with the hopes that it succeeds and they will get paid off in the end.




If you have more money in bitcoin than you are comfortable with losing, then I think you need to re-evaluate your "investment" strategy.

Well what I was referring to was your previous post where you indicated someone might be investing an insignificant quantity of money in bitcoin that they don't care if they lose...that's fine.  However, most people don't have experience investing in junk bonds and that's basically what bitcoin is.  There's a huge difference between that and buying a mutual fund or share of Google.

When BTC soars, you need to be READY!  PM me to learn more about my new e-book, How to Create and Profit from the Second Bitcoin Bubble available exclusively to BTC forum members!

17JzkreEBYNHQM9tMTiUKCHANofwzHRLhP
old_engineer
Sr. Member
****
Offline Offline

Activity: 387


View Profile
August 06, 2011, 04:52:35 PM
 #146

maybe "donating" to the cause? I mean, at this point, all investors in bitcoin are essentially funding a start-up project, with the hopes that it succeeds and they will get paid off in the end.

This is exactly what I think of bitcoin "investing": as shares in a startup.  When a venture capital company gives $100M to a startup and takes a 10% stake, thus valuing the company at $1B, rarely is the company actually worth $1B at that point.  Like the 8 month old Square.com:
http://online.wsj.com/article/SB10001424052702304665904576383813592144744.html

And I can guarantee that Bitcoin has more users, more publicity, and more man-years of development than Square, and is more deserving of $100M in capital.

How much money has actually been put into the Bitcoin ecosystem?  I think MagicalTux said $6M in total transactions in June, so call it $4M in and $2M out, and perhaps $10M for the year.  Sure, some of that is going to speculators, but even if 1/10th of that is going towards supporting engineering effort, its comparable in money utilization to a startup.  So, sure, we might all be throwing our money away, but I think we all know that - we're in the speculation subforum, after all.
NetTecture
Full Member
***
Offline Offline

Activity: 140


View Profile
August 06, 2011, 05:09:12 PM
 #147

There is one stupid thing the OP overlooks Wink Bitcoin will definitely hit USD 20 IF the USD goes into hyperinflation. THey will hit USD 1 billion a piece when a coke costs 100 billion USD Wink

Not very likely, but: in the larger scale, USD 20 WILL be hit. NEVER say never to financial courses. They may not in 1-2 years, but hey - last time I checked, "never" covered longer timeframes Wink
TiagoTiago
Hero Member
*****
Offline Offline

Activity: 616


Firstbits.com/1fg4i                :Ƀ


View Profile
August 06, 2011, 11:36:43 PM
 #148

The lower it goes the faster it will go up once it bounces

(I dont always get new reply notifications, pls send a pm when you think it has happened)

Wanna gimme some BTC for any or no reason? 1FmvtS66LFh6ycrXDwKRQTexGJw4UWiqDX Smiley

The more you believe in Bitcoin, and the more you show you do to other people, the faster the real value will soar!

Do you like mmmBananas?!
BTC Economist
Member
**
Offline Offline

Activity: 112


View Profile
August 07, 2011, 12:05:32 AM
 #149

We are now around $6.50.  What a day!  Price has dropped about 60% since I started this thread.

When BTC soars, you need to be READY!  PM me to learn more about my new e-book, How to Create and Profit from the Second Bitcoin Bubble available exclusively to BTC forum members!

17JzkreEBYNHQM9tMTiUKCHANofwzHRLhP
kano
Legendary
*
Offline Offline

Activity: 1918


Linux since 1997 RedHat 4


View Profile
August 07, 2011, 04:37:10 AM
 #150

Bitcoin will go back up ...

Pool: https://kano.is BTC: 1KanoiBupPiZfkwqB7rfLXAzPnoTshAVmb
CKPool and CGMiner developer, IRC FreeNode #ckpool and #cgminer kanoi
Help keep Bitcoin secure by mining on pools with Stratum, the best protocol to mine Bitcoins with ASIC hardware
FlipPro
Legendary
*
Offline Offline

Activity: 1372



View Profile WWW
August 07, 2011, 04:37:54 AM
 #151

The lower it goes the faster it will go up once it bounces
Thats true...

Tweet For Coins http://uptweet.com
kano
Legendary
*
Offline Offline

Activity: 1918


Linux since 1997 RedHat 4


View Profile
August 07, 2011, 11:27:45 AM
 #152

Hmm its on the way back up a bit for a while today ...

Pool: https://kano.is BTC: 1KanoiBupPiZfkwqB7rfLXAzPnoTshAVmb
CKPool and CGMiner developer, IRC FreeNode #ckpool and #cgminer kanoi
Help keep Bitcoin secure by mining on pools with Stratum, the best protocol to mine Bitcoins with ASIC hardware
Cluster2k
Legendary
*
Offline Offline

Activity: 1512


View Profile
August 07, 2011, 11:41:46 AM
 #153

There is one stupid thing the OP overlooks Wink Bitcoin will definitely hit USD 20 IF the USD goes into hyperinflation. THey will hit USD 1 billion a piece when a coke costs 100 billion USD Wink

Some analysts say the USA is about to encounter a massive bout o deflation.  Japan has been trying to reinflate its economy for over 20 years, often with 0% interest rates.  Hasn't worked, won't work.  When debt is too high people won't borrow money even if it's free.

Some commentators such as at The Automatic Earth state housing in the USA will fall about 90% from peak to trough.  Only a quarter of the way there so far.

If US leadership does go nuts and has the Fed monetize all the debt, I would be invested in gold, silver and weapons.  No use holding a USB stick when hungry, angry, riotous hoards come visiting your middle class abode.

Do not send bitcoins to me: 16b8s7pBJ9rUmsExNW25qD5VUqVqRPZuXu
100% solar powered bitcoin generation
Piper67
Legendary
*
Offline Offline

Activity: 1008



View Profile
August 07, 2011, 01:37:39 PM
 #154

There is one stupid thing the OP overlooks Wink Bitcoin will definitely hit USD 20 IF the USD goes into hyperinflation. THey will hit USD 1 billion a piece when a coke costs 100 billion USD Wink

Some analysts say the USA is about to encounter a massive bout o deflation.  Japan has been trying to reinflate its economy for over 20 years, often with 0% interest rates.  Hasn't worked, won't work.  When debt is too high people won't borrow money even if it's free.

Some commentators such as at The Automatic Earth state housing in the USA will fall about 90% from peak to trough.  Only a quarter of the way there so far.

If US leadership does go nuts and has the Fed monetize all the debt, I would be invested in gold, silver and weapons.  No use holding a USB stick when hungry, angry, riotous hoards come visiting your middle class abode.

Heh... The JAPANESE won't borrow free money when they're already in debt...the Americans? They'll have inflation  Cheesy
kiwiasian
Full Member
***
Offline Offline

Activity: 168


View Profile
August 07, 2011, 03:21:12 PM
 #155

Heh, down to $6. To all those who called OP a troll: What have you say now?

Tradehill referral link, save 10% | http://www.tradehill.com/?r=TH-R12328
www.payb.tc/kiwiasian | 1LHNW1JGMBo2e7rKiiFz7KJPKE57bqCdEC
Bitcoin Swami
Full Member
***
Offline Offline

Activity: 168


View Profile
August 07, 2011, 03:37:25 PM
 #156

Heh, down to $6. To all those who called OP a troll: What have you say now?

I'll let you know when we get past "never"
skyhigh
Full Member
***
Offline Offline

Activity: 142


View Profile
August 07, 2011, 03:37:44 PM
 #157

Heh, down to $6. To all those who called OP a troll: What have you say now?

Can you read ?! Price $6 has nothing to do with what he said in the title or his opening post. Back to 1st grade you go.
Rassah
Legendary
*
Offline Offline

Activity: 1624


Director of Bitcoin100


View Profile
August 07, 2011, 04:53:19 PM
 #158

Heh, down to $6. To all those who called OP a troll: What have you say now?

Can you read ?! Price $6 has nothing to do with what he said in the title or his opening post. Back to 1st grade you go.

If the OP knew about the crash of MyBitcoin.com, Bitomat, Dwolla, and the issues with Euro bank transfers so far ahead of time, WHY THE F*CK DIDN'T HE WARN EVERYONE?!?!?!?!?!

RandyFolds
Sr. Member
****
Offline Offline

Activity: 434



View Profile
August 07, 2011, 09:00:10 PM
 #159

Heh, down to $6. To all those who called OP a troll: What have you say now?

Twat.

▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓
▓▓ ONEDICE.ME ▓▓▓▓▓ BEST DICE EXPERIENCE ▓▓▓▓ PLAY OR INVEST ▓▓▓▓▓▓
▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓
vulgata
Jr. Member
*
Offline Offline

Activity: 55


View Profile
August 07, 2011, 11:46:23 PM
 #160

You might be right that bitcoin price will never reach $20 again, but that kind of speculation is just outright stupid to say. I figure you probably follow stocks and thing is that in most cases, like 85%+ you would be right. Once the stock ran its natural course it will most likely stay within a certain range forever. Not many run up exponentially for a while then totally collapse and run up again  in the near future. But bitcoin isn't a stock, its fundamentals are different. There is no trailing P/E we could associate it with or has earnings or profit margin or anything like that.

Bitcoin is not an investment, it's a trading vehicle designed to work regardless of it's price in fiat money. It's functionality doesn't change if its worth $1 or $100. People greed wants it to be worth more. Eventually bitcoin price will get low enough so fresh money added to the market will be able to meet up with the supply. I'm almost 100% certain that will ultimately happen. I think it will happen in the range from $1 to $5.

I won't start buying before $6.00. I would rather miss the whole thing and forget about bitcoins all together then buy above that price or EVER chase it higher. But that's just me. When/if I will start buying, I know already the whole plan, which I might fine tune as we go along, but I won't ever go outside my comfort zone. I know exactly how much I will buy, when, how much it will cost me and when I will/might sell. There isn't anyone who could influence me in a way that I would change my plan drastically. I would/will still read what people are saying but not react on it unless the price/volume tells me so. That's how I made money in the past and will do so in the future.

This is a key observation sorely missed by all the naysayers who are comparing this to a penny stock.  My plan is very similar to yours.

Pages: « 1 2 3 4 5 6 7 [8] 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!