Mellnik (OP)
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November 18, 2013, 05:19:23 PM Last edit: November 18, 2013, 06:03:27 PM by Mellnik |
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BTC almost reached $700 on mtgox. Do you think that I should spend my money now for bitcoins or rather wait till it drops below 300 again?
When will that be or do you think that it won't crash?
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piramida
Legendary
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Activity: 1176
Merit: 1010
Borsche
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November 18, 2013, 05:24:14 PM |
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1. it will never be below 300, with a high probability 2. it will be below 600 sometime this year, with a high probability
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i am satoshi
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chrsjrcj
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November 18, 2013, 05:25:18 PM |
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Do your own diligence, but in my opinion, I wait it out one or two days. Too much upward movement the last day or so.
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dbanga85
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November 18, 2013, 05:25:33 PM |
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Idk but im rich as shit.. I cant believe it! Look Ma! I made it!
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Buy Low Sell HIGH is the Motto...
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NUFCrichard
Legendary
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Activity: 1218
Merit: 1003
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November 18, 2013, 05:25:57 PM |
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Not sure, but I thought the same thing at 400 and 500 but didn't buy!
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Nemesis
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November 18, 2013, 05:26:54 PM |
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what for crash?
I think you should invest in yourself first
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GigaCoin
Sr. Member
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Activity: 308
Merit: 251
Giga
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November 18, 2013, 05:31:15 PM |
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BTC almost reached $700 on mtgox. Do you think that I should spend my money now for bitcoins or rather wait till it drops below 300 again?
When will that be or do you think that it won't crash?
Too fast upward movement means high risk of correction in the coming days, however we had a dip today from $620 to $530, where they was a v strong buy wall. In my opinion, just buy and hold, even if the price corrects ignore it and wait, or if you'd like to you can place a "Stop loss" sell order to protect your USD investment and then rebuy at a lower price incase of a major correction. I don't see this stopping, even if it's a bubble this one will last longer, it's probably going to $1000 in the next 2 weeks.
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Mellnik (OP)
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November 18, 2013, 07:07:00 PM |
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Thanks for all replies except the one from Nemesis. I think I will buy now and hold for some years
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eindbaas
Member
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Activity: 70
Merit: 10
umad?
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November 18, 2013, 07:08:40 PM |
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sell youre house and but as many as you can.
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Mellnik (OP)
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November 18, 2013, 07:21:15 PM |
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sell youre house and but as many as you can.
Yes and meanwhile I will sleep on the street.
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chrsjrcj
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November 20, 2013, 11:08:27 AM |
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Did you wait for the crash OP? Looks like a good time to start (slowly) buying in.
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Flashman
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November 20, 2013, 11:11:17 AM |
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This morning, now, this minute, n-n-n-NOW!
I'm saying this was a bubble on a bubble and the major bubble has legs still.
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TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6
Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins.
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TheQuin
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November 20, 2013, 11:13:19 AM |
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^^^ Yep. Anywhere between 475 & 375, looking for 1100.
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lindatess
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November 20, 2013, 11:25:37 AM |
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If the hedge funds are using the fool.com method, then they are probably getting ready to dump large quantities of bitcoins. They should have come to the realisation that there won't be enough market share taken away to justify the current price of bitcoins. In the annual report Western Union conducts 2.5 million transactions a day. According to the blockchain size the maximum transactions per day should be 360,000. So we should go back and look at this chart and revalue bitcoin as $100 as it can only capture 10x less market share. http://www.fool.com/investing/general/2013/11/17/bitcoin-bubble-or-value.aspx$100 price target sounds about right considering bitcoin can't capture the market that people believe it will and the developers of bitcoin are unable to address this issue as the onus lies with the mining pools. Some people state that consider the transaction fees on bitcoin are 10x less than traditional means. This means they can only earn 10x less revenue. The price target can now only be $10 in the long run. These are good valuation methods proven by "value investors" such as Warren Buffet, undoubtedly also fool.com. However, we also know the maximum block chain for most mining pools is around 250kb which means only 90,000 transactions a day can be completed. This means that there is no way bitcoin will capture any of the money that western union makes and believe me Western Union Charges Ludicrous Fees to gain the amount of revenue that they do! Thus we have to take one quarter of the price target due to the 250kb limit, which now values bitcoin at $25 or $2.5 each using modern portfolio valuation methods. I'm guessing the hedge funds are waking up to this, after all they all use these methods.
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Tirapon
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November 20, 2013, 01:59:24 PM |
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$100 price target sounds about right considering bitcoin can't capture the market that people believe it will and the developers of bitcoin are unable to address this issue as the onus lies with the mining pools.
Some people state that consider the transaction fees on bitcoin are 10x less than traditional means. This means they can only earn 10x less revenue. The price target can now only be $10 in the long run. These are good valuation methods proven by "value investors" such as Warren Buffet, undoubtedly also fool.com.
However, we also know the maximum block chain for most mining pools is around 250kb which means only 90,000 transactions a day can be completed. This means that there is no way bitcoin will capture any of the money that western union makes and believe me Western Union Charges Ludicrous Fees to gain the amount of revenue that they do!
Thus we have to take one quarter of the price target due to the 250kb limit, which now values bitcoin at $25 or $2.5 each using modern portfolio valuation methods. I'm guessing the hedge funds are waking up to this, after all they all use these methods.
http://www.reddit.com/r/Bitcoin/comments/1mb27q/bitcoins_vast_overvaluation_appears_caused_by/cc7i6y8
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Mellnik (OP)
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November 20, 2013, 02:03:02 PM |
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Did you wait for the crash OP? Looks like a good time to start (slowly) buying in.
Yes, I bought 2 for 470 USD/BTC today.
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gamer4156
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November 20, 2013, 02:43:43 PM |
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Buy until the Winkels ETF goes live. Then see where we are at.
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antimattercrusader
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November 20, 2013, 02:47:59 PM |
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If the hedge funds are using the fool.com method, then they are probably getting ready to dump large quantities of bitcoins. They should have come to the realisation that there won't be enough market share taken away to justify the current price of bitcoins. In the annual report Western Union conducts 2.5 million transactions a day. According to the blockchain size the maximum transactions per day should be 360,000. So we should go back and look at this chart and revalue bitcoin as $100 as it can only capture 10x less market share. http://www.fool.com/investing/general/2013/11/17/bitcoin-bubble-or-value.aspx$100 price target sounds about right considering bitcoin can't capture the market that people believe it will and the developers of bitcoin are unable to address this issue as the onus lies with the mining pools. Some people state that consider the transaction fees on bitcoin are 10x less than traditional means. This means they can only earn 10x less revenue. The price target can now only be $10 in the long run. These are good valuation methods proven by "value investors" such as Warren Buffet, undoubtedly also fool.com. However, we also know the maximum block chain for most mining pools is around 250kb which means only 90,000 transactions a day can be completed. This means that there is no way bitcoin will capture any of the money that western union makes and believe me Western Union Charges Ludicrous Fees to gain the amount of revenue that they do! Thus we have to take one quarter of the price target due to the 250kb limit, which now values bitcoin at $25 or $2.5 each using modern portfolio valuation methods. I'm guessing the hedge funds are waking up to this, after all they all use these methods. Bitcoin is not a profit making company nor desires to be so
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BTC: 13WYhobWLHRMvBwXGq5ckEuUyuDPgMmHuK
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icem3lter
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November 20, 2013, 02:57:04 PM |
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However, we also know the maximum block chain for most mining pools is around 250kb which means only 90,000 transactions a day can be completed. This means that there is no way bitcoin will capture any of the money that western union makes and believe me Western Union Charges Ludicrous Fees to gain the amount of revenue that they do!
Thus we have to take one quarter of the price target due to the 250kb limit, which now values bitcoin at $25 or $2.5 each using modern portfolio valuation methods. I'm guessing the hedge funds are waking up to this, after all they all use these methods.
No there is 1MB block limit. When miners realize it is hurting USD/BTC price to only allow 250KB used, they will demand to increase it to 1MB or change pool
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