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Question: Did this forum turn uberbullish?
Yes, will collapse any time now. - 14 (10.4%)
You ain't seen nothing yet, this party is just getting started! - 93 (68.9%)
The forum yes, me lonely bear Sad - 6 (4.4%)
Stop whining already! Just join the joyriiiiiiiiide... <insert Roxette> - 22 (16.3%)
Total Voters: 135

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Author Topic: Did this forum turn uberbullish?  (Read 2460 times)
mvidetto
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November 05, 2013, 03:16:33 PM
 #21

Last few days transactions have been totaling ~1m bitcoin (right now 1.1m btc) and if theres 12m bitcoins that means on average a bitcoin is being spent 30x a year.  I'm just not seeing how people are hoarding, the currency is being used to transact and currently at a rate faster than most others.  I believe that bitcoin will surge in this bubble and quickly fall back to about where it is now maybe 250-300.
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sgbett
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November 05, 2013, 03:20:18 PM
 #22

@sgbett and again, a process that follows an exponential growth must be plotted logarithmically to appear properly. And this definitely applies to BTC.

Thats the point of the chart bubba. Big move up now ends up looking like flat line in grand scheme of things. x

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BitchicksHusband
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November 05, 2013, 03:35:17 PM
 #23

I'm almost certain we'll see double digits before 2016 and single digits are a possibility.

The only way we will see double digits is if BTC is dead.

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BitchicksHusband
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November 05, 2013, 03:37:30 PM
 #24

I'm almost certain we'll see double digits before 2016 and single digits are a possibility.

Reasoning?

There's no virtually no demand except speculative demand (buying BTC on the belief they'll be worth more in the future), the technology is immature and the economy is practically nonexistent. Actual use (number of daily transactions) hasn't grown nearly in proportion to the rise in price. There's a lot of wishful thinking going around in the forum.

I'm not buying at these prices. Not selling either. I sold a portion of my coins in April for $192/BTC, and I do not regret that decision.

I'll be necroing this post when it reaches $1000.

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Nekrobios
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November 05, 2013, 03:39:03 PM
 #25

It's funny to me that the newcomers to Bitcoin are so much more fanatic/deluded than some like me who bought coins at <1 USD.
davidgdg
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November 05, 2013, 04:46:45 PM
 #26

It's funny to me that the newcomers to Bitcoin are so much more fanatic/deluded than some like me who bought coins at <1 USD.

If you've actually lived the history, it gives you a different perspective. Not necessarily the correct one though .....

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November 05, 2013, 04:50:52 PM
 #27

It's funny to me that the newcomers to Bitcoin are so much more fanatic/deluded than some like me who bought coins at <1 USD.

If you've actually lived the history, it gives you a different perspective. Not necessarily the correct one though .....

Last time we were here, Gox was lagging and getting DDOSed to hell. And it was the leading exchange.
Zangelbert Bingledack
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November 06, 2013, 03:50:59 AM
 #28

I'm almost certain we'll see double digits before 2016 and single digits are a possibility.

Reasoning?

There's no virtually no demand except speculative demand (buying BTC on the belief they'll be worth more in the future), the technology is immature and the economy is practically nonexistent. Actual use (number of daily transactions) hasn't grown nearly in proportion to the rise in price. There's a lot of wishful thinking going around in the forum.

I'm not buying at these prices. Not selling either. I sold a portion of my coins in April for $192/BTC, and I do not regret that decision.

"belief they're be worth more in the future" isn't a bad reason to buy unless there's reason to believe they won't be worth more in the future. The next reason you gave is "technology is immature," which can and likely will be remedied in the future, making it good to buy now.

Transactions don't matter yet because Bitcoin is more Gold 2.0 than Currency 2.0 right now. Not a problem; Gold 2.0 is worth an incredible amount to the people of the world, so that alone could drive the price up 1000 times.

Once we are above $10,000/BTC we can start to worry about transaction volume and merchant adoption.
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November 06, 2013, 03:52:23 AM
 #29

Forum has always been full of turbobulls.

They just got quiet for a while.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
notme
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November 06, 2013, 03:58:24 AM
 #30

Forum has always been full of turbobulls.

They just got quiet for a while.

We had to let the bears throw their tantrums so they could get it out of their systems.... and so we could have cheap bitcoins.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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AndrewWilliams
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November 06, 2013, 04:59:54 AM
 #31

Can't wait for Bitcoin to enter into it's "Beanie Baby" phase and hit $800 for a few weeks, then slump back down to $250-350. Smiley



Yeah, I said Beanie Baby. Cheesy
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