ex-trader
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November 17, 2013, 08:46:14 PM |
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I opt for a crash. Price is purely dictated by chinese market. There was no adoption, no major company support and still the price trippled in just a month. China goes up and sudenly all other markets follow without thought. If they decide to sell, for whatever reason, whole world will sell in panic.
And that makes sense because? Chinese adopt it but there is no adoption...lol At best the Chinese are doing what everyone else in the bubble is doing; buy Bitcoins in the hope they make a profit. It is not adoption as a currency. At worst, well I have a paper I'm finishing on this topic. Synopsis: The Bitcoin 'exchanges' and the 'market' they supposedly create are a fraud. Price action is driven by non existent trades on the platforms. The manipulation is now so rampant across competing exchanges that the entire legitimate trading activity of the exchanges is drowned by a sea of fakery. There isn't a single exchange I examined for this research that isn't engaged in this activity. I totally agree with this. I buy Bitcoins because I think they'll go up not because they're any use to me. I totally believe that 99% of the bitcoin buyers are like this, does anyone really believe that all the people buying BTC through exchanges and forcing the price up are doing so because they want to spend it - really, how, where. The real truth that no-one wants to acknowledge is that the actual Bitcoin economy i.e. not gambling, mining or speculation is still virtually non-existent. If it were growing someone would be shouting about it, yet all I hear is silence....
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Jrock
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November 17, 2013, 08:50:51 PM |
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I opt for a crash. Price is purely dictated by chinese market. There was no adoption, no major company support and still the price trippled in just a month. China goes up and sudenly all other markets follow without thought. If they decide to sell, for whatever reason, whole world will sell in panic.
And that makes sense because? Chinese adopt it but there is no adoption...lol At best the Chinese are doing what everyone else in the bubble is doing; buy Bitcoins in the hope they make a profit. It is not adoption as a currency. At worst, well I have a paper I'm finishing on this topic. Synopsis: The Bitcoin 'exchanges' and the 'market' they supposedly create are a fraud. Price action is driven by non existent trades on the platforms. The manipulation is now so rampant across competing exchanges that the entire legitimate trading activity of the exchanges is drowned by a sea of fakery. There isn't a single exchange I examined for this research that isn't engaged in this activity. I totally agree with this. I buy Bitcoins because I think they'll go up not because they're any use to me. I totally believe that 99% of the bitcoin buyers are like this, does anyone really believe that all the people buying BTC through exchanges and forcing the price up are doing so because they want to spend it - really, how, where. The real truth that no-one wants to acknowledge is that the actual Bitcoin economy i.e. not gambling, mining or speculation is still virtually non-existent. If it were growing someone would be shouting about it, yet all I hear is silence.... +1 There's some true believers out there. Most are just in it for the profit though.
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r00tbg
Newbie
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Activity: 56
Merit: 0
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November 17, 2013, 08:52:39 PM |
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Each instrument has so on "psychological resistance". In Bitcoin, it was $ 100, then $ 200, then $ 500, ... now is $ 1,000. I guess will break it soon and then will follow a more serious correction (at least 30% correction). Up to $ 1,000 but do not expect correction greater than 10%. This is just my opinion and should not be taken into account regarding the buying or selling of *coins.
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MaxBTC1
Newbie
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Activity: 56
Merit: 0
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November 17, 2013, 08:53:07 PM |
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This is a bubble, and if you think otherwise you are an idiot to be frank. This is no 'organic growth'. Bitcoins rise is fuelled by media driven newbie buying who think they can get rich. The crash will come.
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adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
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November 17, 2013, 08:56:09 PM |
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This is a bubble, and if you think otherwise you are an idiot to be frank. This is no 'organic growth'. Bitcoins rise is fuelled by media driven newbie buying who think they can get rich. The crash will come.
no this is the market pricing in the future. its not a bubble, its a dream.
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r00tbg
Newbie
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Activity: 56
Merit: 0
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November 17, 2013, 09:07:59 PM |
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This is a bubble, and if you think otherwise you are an idiot to be frank. This is no 'organic growth'. Bitcoins rise is fuelled by media driven newbie buying who think they can get rich. The crash will come.
May be, may be not... Assuming that it is a bubble , it is still in its infancy . Each " financial bubble inflated " at least 2 years. Bitcoin at this " inflation " (assuming that the bubble ) started when the price for the first time crossed $ 200 . And when all your friends start talking about Bitcoin , when every newscast on television reports of how Bitcoin has risen in the last day , when the taxi driver who rides you boasted that he invested in Bitcoin .... only then we can talk for " financial bubble", and only then is the right time to sell your Bitcoin.
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smoothie
Legendary
Offline
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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November 17, 2013, 09:25:01 PM |
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I opt for a crash. Price is purely dictated by chinese market. There was no adoption, no major company support and still the price trippled in just a month. China goes up and sudenly all other markets follow without thought. If they decide to sell, for whatever reason, whole world will sell in panic.
And that makes sense because? Chinese adopt it but there is no adoption...lol At best the Chinese are doing what everyone else in the bubble is doing; buy Bitcoins in the hope they make a profit. It is not adoption as a currency. At worst, well I have a paper I'm finishing on this topic. Synopsis: The Bitcoin 'exchanges' and the 'market' they supposedly create are a fraud. Price action is driven by non existent trades on the platforms. The manipulation is now so rampant across competing exchanges that the entire legitimate trading activity of the exchanges is drowned by a sea of fakery. There isn't a single exchange I examined for this research that isn't engaged in this activity. Prove it. That's right you can't. Your claims are baseless.
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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revans
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November 17, 2013, 09:56:57 PM |
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I opt for a crash. Price is purely dictated by chinese market. There was no adoption, no major company support and still the price trippled in just a month. China goes up and sudenly all other markets follow without thought. If they decide to sell, for whatever reason, whole world will sell in panic.
And that makes sense because? Chinese adopt it but there is no adoption...lol At best the Chinese are doing what everyone else in the bubble is doing; buy Bitcoins in the hope they make a profit. It is not adoption as a currency. At worst, well I have a paper I'm finishing on this topic. Synopsis: The Bitcoin 'exchanges' and the 'market' they supposedly create are a fraud. Price action is driven by non existent trades on the platforms. The manipulation is now so rampant across competing exchanges that the entire legitimate trading activity of the exchanges is drowned by a sea of fakery. There isn't a single exchange I examined for this research that isn't engaged in this activity. Prove it. That's right you can't. Your claims are baseless. I will publish my research soon, there are just a few things I need to finish off, and also provide each of the exchanges mentioned and opportunity to address the findings prior to my going public with them.
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batcoin
Full Member
Offline
Activity: 238
Merit: 100
In Gord We Trust
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November 17, 2013, 10:29:40 PM |
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At best the Chinese are doing what everyone else in the bubble is doing; buy Bitcoins in the hope they make a profit. It is not adoption as a currency.
At worst, well I have a paper I'm finishing on this topic. Synopsis: The Bitcoin 'exchanges' and the 'market' they supposedly create are a fraud. Price action is driven by non existent trades on the platforms. The manipulation is now so rampant across competing exchanges that the entire legitimate trading activity of the exchanges is drowned by a sea of fakery. There isn't a single exchange I examined for this research that isn't engaged in this activity.
Do you have any bitcoins? If the exchanges are supposed to be providing fraudulent prices then how much would you say 1 BTC should go for? I may be interested in obtaining some from you. Maybe we could form our own exchange together and broadcast the REAL price to all of the internet. Maybe our real exchange with real prices will set all the others straight.
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If you have more than 0.01BTC and complain about early adopters, please consider donating to this address: 1P11Dz4mhDcJvetHqEJu35KNEVqSRmqo3b General Tips: 1P4YfrYwQKKtfwszzb2aHgLVLiWQCrJfwi
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revans
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November 17, 2013, 10:36:41 PM |
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At best the Chinese are doing what everyone else in the bubble is doing; buy Bitcoins in the hope they make a profit. It is not adoption as a currency.
At worst, well I have a paper I'm finishing on this topic. Synopsis: The Bitcoin 'exchanges' and the 'market' they supposedly create are a fraud. Price action is driven by non existent trades on the platforms. The manipulation is now so rampant across competing exchanges that the entire legitimate trading activity of the exchanges is drowned by a sea of fakery. There isn't a single exchange I examined for this research that isn't engaged in this activity.
Do you have any bitcoins? If the exchanges are supposed to be providing fraudulent prices then how much would you say 1 BTC should go for? I may be interested in obtaining some from you. Maybe we could form our own exchange together and broadcast the REAL price to all of the internet. Maybe our real exchange with real prices will set all the others straight. i do get tired of repeating this, pehaps I should put it in a signature. I sold all my Bitcoins at 200ish and donated the resultant fiat to good causes. I did not get involved with Bitcoin to make money for doing nothing, I was interested in a genuine alternative currency model, not the speculation which has taken over.
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Mjbmonetarymetals
Legendary
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Activity: 1096
Merit: 1067
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November 17, 2013, 10:37:55 PM |
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I think btc is going to glow red hot through $1000 reaching $1200 with a retrace back to $950.
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Bitrated user: Mick.
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smoothie
Legendary
Offline
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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November 17, 2013, 10:40:21 PM |
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I opt for a crash. Price is purely dictated by chinese market. There was no adoption, no major company support and still the price trippled in just a month. China goes up and sudenly all other markets follow without thought. If they decide to sell, for whatever reason, whole world will sell in panic.
And that makes sense because? Chinese adopt it but there is no adoption...lol At best the Chinese are doing what everyone else in the bubble is doing; buy Bitcoins in the hope they make a profit. It is not adoption as a currency. At worst, well I have a paper I'm finishing on this topic. Synopsis: The Bitcoin 'exchanges' and the 'market' they supposedly create are a fraud. Price action is driven by non existent trades on the platforms. The manipulation is now so rampant across competing exchanges that the entire legitimate trading activity of the exchanges is drowned by a sea of fakery. There isn't a single exchange I examined for this research that isn't engaged in this activity. Prove it. That's right you can't. Your claims are baseless. I will publish my research soon, there are just a few things I need to finish off, and also provide each of the exchanges mentioned and opportunity to address the findings prior to my going public with them. Oh so your claims are still baseless then right? You admit it by the fact that you still have no proof to share with all of us. If you had access to such information you would be able to make a boat load on knowing exactly when prices would go up and down. Just because Chinese person buys bitcoins for a profit does not mean that it isn't "adoption". In fact I could claim that it is temporary adoption if we want to get technical. AS they have possession of the coin(s) and thus have "adopted" it even if for a short period (in your presumed scenario that ALL the chinese are doing this and not just some LOL). Your definition of adoption is clearly different than what the market's believe that means. That is what your argument boils down to: a difference in definition of a word. Period.
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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tunctioncloud
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November 17, 2013, 10:46:01 PM |
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This is a bubble, and if you think otherwise you are an idiot to be frank. This is no 'organic growth'. Bitcoins rise is fuelled by media driven newbie buying who think they can get rich. The crash will come.
I have to agree, new price will be set around 200. But with more merchants accepting BTC, the price can rise with time
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smoothie
Legendary
Offline
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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November 17, 2013, 10:48:29 PM |
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At best the Chinese are doing what everyone else in the bubble is doing; buy Bitcoins in the hope they make a profit. It is not adoption as a currency.
At worst, well I have a paper I'm finishing on this topic. Synopsis: The Bitcoin 'exchanges' and the 'market' they supposedly create are a fraud. Price action is driven by non existent trades on the platforms. The manipulation is now so rampant across competing exchanges that the entire legitimate trading activity of the exchanges is drowned by a sea of fakery. There isn't a single exchange I examined for this research that isn't engaged in this activity.
Do you have any bitcoins? If the exchanges are supposed to be providing fraudulent prices then how much would you say 1 BTC should go for? I may be interested in obtaining some from you. Maybe we could form our own exchange together and broadcast the REAL price to all of the internet. Maybe our real exchange with real prices will set all the others straight. i do get tired of repeating this, pehaps I should put it in a signature. I sold all my Bitcoins at 200ish and donated the resultant fiat to good causes. I did not get involved with Bitcoin to make money for doing nothing, I was interested in a genuine alternative currency model, not the speculation which has taken over. So because there are speculators in bitcoin driving up the price you aren't for bitcoin? Did I misunderstand this? To be honest, until you prove you donated your fiat from those exchanged coins to good causes, it is basically the cheapest commodity to date (pretty much): TALK. I've learned one huge truth in life, is that TALK IS CHEAP.
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,╓p@@███████@╗╖, ,p████████████████████N, d█████████████████████████b d██████████████████████████████æ ,████²█████████████████████████████, ,█████ ╙████████████████████╨ █████y ██████ `████████████████` ██████ ║██████ Ñ███████████` ███████ ███████ ╩██████Ñ ███████ ███████ ▐▄ ²██╩ a▌ ███████ ╢██████ ▐▓█▄ ▄█▓▌ ███████ ██████ ▐▓▓▓▓▌, ▄█▓▓▓▌ ██████─ ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌ ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─ ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩ ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀ ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀` ²²² ███████████████████████████████████████
| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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drnick
Newbie
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Activity: 26
Merit: 0
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November 17, 2013, 10:50:37 PM |
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I totally agree with this. I buy Bitcoins because I think they'll go up not because they're any use to me. I totally believe that 99% of the bitcoin buyers are like this, does anyone really believe that all the people buying BTC through exchanges and forcing the price up are doing so because they want to spend it - really, how, where.
I believe that speculation solves a catch-22, notably, how do you get people on board a currency and use it, when there is nothing to use it on? Well...the speculators get on board first, whether it's driven by greed, or a dream, or whatever. But now that early speculators, or even investors that have produced large profits, have some wealth, they will begin to want to spend it. Why? Because, you have the choice of either cashing out your winnings and paying a hefty gains tax on it, or directly spending the coins into something you want. And the market will respond by offering items for those speculators that they can pay in bitcoins directly. And we're already seeing this happen: it's cumbersome, for the most part, at least for now, but remember, you can't solve the catch-22 otherwise.
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kireinaha
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November 17, 2013, 11:05:27 PM |
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You guys fail to see the real value of Bitcoin and why is rissing so fast.
Right now is a fantastic long term Store of Value, the currency side will start to grow in use after the price is more stable in a few years.
A currency that fluctuates anywhere from 10% to 80% in one day is a horrible store of value. It`s far too voiltile now to have any confidence in future valuations. In order for it to stabilize, people need to actually use it to purchase goods and services, not just speculate. I just don`t see the need for people to convert their fiat to bitcoin, costing them fees, so they can buy Subway sandwiches.
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Night gathers, and now my bitcoinwisdom watch begins.
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notme
Legendary
Offline
Activity: 1904
Merit: 1002
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November 17, 2013, 11:07:27 PM |
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You guys fail to see the real value of Bitcoin and why is rissing so fast.
Right now is a fantastic long term Store of Value, the currency side will start to grow in use after the price is more stable in a few years.
A currency that fluctuates anywhere from 10% to 80% in one day is a horrible store of value. It`s far too voiltile now to have any confidence in future valuations. In order for it to stabilize, people need to actually use it to purchase goods and services, not just speculate. I just don`t see the need for people to convert their fiat to bitcoin, costing them fees, so they can buy Subway sandwiches. Nobody who has held for 18 months or more has taken a loss.
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kireinaha
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November 17, 2013, 11:11:20 PM |
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You guys fail to see the real value of Bitcoin and why is rissing so fast.
Right now is a fantastic long term Store of Value, the currency side will start to grow in use after the price is more stable in a few years.
A currency that fluctuates anywhere from 10% to 80% in one day is a horrible store of value. It`s far too voiltile now to have any confidence in future valuations. In order for it to stabilize, people need to actually use it to purchase goods and services, not just speculate. I just don`t see the need for people to convert their fiat to bitcoin, costing them fees, so they can buy Subway sandwiches. Nobody who has held for 18 months or more has taken a loss. I`m sure a beanie baby collector in 1996 would have said the same thing.
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Night gathers, and now my bitcoinwisdom watch begins.
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Wilhelm
Legendary
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Activity: 1652
Merit: 1265
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November 17, 2013, 11:12:28 PM |
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You guys fail to see the real value of Bitcoin and why is rissing so fast.
Right now is a fantastic long term Store of Value, the currency side will start to grow in use after the price is more stable in a few years.
A currency that fluctuates anywhere from 10% to 80% in one day is a horrible store of value. It`s far too voiltile now to have any confidence in future valuations. In order for it to stabilize, people need to actually use it to purchase goods and services, not just speculate. I just don`t see the need for people to convert their fiat to bitcoin, costing them fees, so they can buy Subway sandwiches. We are at the dawn of a new era. Bitcoin needs to stabilize which it will someday but maybe not soon. Every currency, every stock starts off volatile and stabilizes at some point. That said people having fiat money need to spend it fast before it gets worthless whereas with bitcoin spending less will give you more.
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Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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notme
Legendary
Offline
Activity: 1904
Merit: 1002
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November 17, 2013, 11:22:44 PM |
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You guys fail to see the real value of Bitcoin and why is rissing so fast.
Right now is a fantastic long term Store of Value, the currency side will start to grow in use after the price is more stable in a few years.
A currency that fluctuates anywhere from 10% to 80% in one day is a horrible store of value. It`s far too voiltile now to have any confidence in future valuations. In order for it to stabilize, people need to actually use it to purchase goods and services, not just speculate. I just don`t see the need for people to convert their fiat to bitcoin, costing them fees, so they can buy Subway sandwiches. Nobody who has held for 18 months or more has taken a loss. I`m sure a beanie baby collector in 1996 would have said the same thing. Right, because beanies babies are useful, like a censorship resistant digital currency with a hard supply limit and bounded inflation.
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