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MatTheCat
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December 22, 2013, 02:33:03 AM |
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Next month? 2? a year? Speculate here..
After it has been smashed into the basement by the China wind down, and has spent a period of time trending in the doledrums. Anyone who thinks that this China thing is over, or that Bitcoin 'doesn't need China', and that the China effect has been priced into the market at $500 is delusional imo. A massive big glut of coins that WILL be getting sold on a Bitcoin exchange near you, and soon! If china sells there will be people screaming "shut up and take my money" everywhere. Just ask yourself now - would I buy at $200? I sure would, which means it won't go that low.
Yeah, cos you call the shots in this market! |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Ibian
Legendary
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Activity: 2268
Merit: 1278
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December 22, 2013, 02:39:08 AM |
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What's to stop the chinese gov from deciding that btcchina is their Silk Road, shutting it down and seizing all the bitcoins on the exchange? If they do that, they could then wait a few months, half a year or whatever, declare bitcoin Good and have a lot of them handy.
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Look inside yourself, and you will see that you are the bubble.
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EvilPanda
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December 22, 2013, 02:43:22 AM |
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Next month? 2? a year? Speculate here..
After it has been smashed into the basement by the China wind down, and has spent a period of time trending in the doledrums. Anyone who thinks that this China thing is over, or that Bitcoin 'doesn't need China', is delusional imo. A massive big glut of coins that WILL be getting sold on a Bitcoin exchange near you, and soon! If china sells there will be people screaming "shut up and take my money" everywhere. Just ask yourself now - would I buy at $200? I sure would, which means it won't go that low.
Yeah, cos you call the shots in this market! Thankfully you don't. I've seen some of your predictions and they are all extremely sceptical and pessimistic. The glass is always half empty, right? |
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damiano
Legendary
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Activity: 1246
Merit: 1000
103 days, 21 hours and 10 minutes.
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December 22, 2013, 02:43:46 AM |
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$300-450 is a good price for china not being able to buy coins.
No offense to India, but I have a handful of friends that live there and I have been told that majority of that country is very poor with a small middle class and a handful of the wealthy. I don't think the majority would put to much into bitcoins.
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MatTheCat
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December 22, 2013, 02:47:30 AM
Last edit: December 22, 2013, 03:50:37 AM by MatTheCat |
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Thankfully you don't. I've seen some of your predictions and they are all extremely sceptical and pessimistic. The glass is always half empty, right?
YEAH BUT GUESS WHAT!!! UP UNTIL NOW, I HAVE ALWAYS BEEN RIGHT! The only time I have been wrong in a way that made me lose money, was when I was too optimistic. (buying crash at $550 instead of $400....I panic sold on bounce). $300-450 is a good price for china not being able to buy coins.
No offense to India, but I have a handful of friends that live there and I have been told that majority of that country is very poor with a small middle class and a handful of the wealthy. I don't think the majority would put to much into bitcoins.
It is exactly these sort of places where the few who have money are looking to both hide and get their wealth the fk out the country. Wealthy people in these countries are those who will have the biggest hard-ons for Bitcoin. |
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empoweoqwj
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December 22, 2013, 03:39:13 AM |
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What would happen then? Price drop?
Honestly I'm not sure, but that's the assumption. I guess it depends on how quickly. How many people. How many coins. Is China still the thing propping us up? Remember: Before china we were at $150-200 pretty consistently. China took us from $200 to $1200 practically overnight. Now remove China completely from the equation. Will we go back to $200? Its probable that a lot more people got in over the last 2 months. Maybe enough to support a $300 price. Maybe $400. Maybe even $500. -B- The price has never been stable. There is always a news event to send coins one way or the other. Just have to wait to see if the next is good or bad. |
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outofservice
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Activity: 70
Merit: 11
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December 22, 2013, 03:47:09 AM |
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$300-450 is a good price for china not being able to buy coins.
No offense to India, but I have a handful of friends that live there and I have been told that majority of that country is very poor with a small middle class and a handful of the wealthy. I don't think the majority would put to much into bitcoins.
I worked overseas for 6 yrs and our company hired them as cheap labor. Lots of time and conversation with them (Hundreds of them coming and going over the 6 yrs), them mainly being from the South, East and West. Only a couple from the North. All of them, regardless of location, had about a nickle in their pocket. Very Poor! On top of being very poor they are also Very Tight with their money. I don't see them being a power player like China... unless and only if they designed some mining machines that blow away whats out there now. |
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empoweoqwj
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December 22, 2013, 03:53:18 AM |
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$300-450 is a good price for china not being able to buy coins.
No offense to India, but I have a handful of friends that live there and I have been told that majority of that country is very poor with a small middle class and a handful of the wealthy. I don't think the majority would put to much into bitcoins.
Agreed about India. It won't be India pushing the price up to new levels. |
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BitcoinSteve (OP)
Member
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Activity: 112
Merit: 10
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December 22, 2013, 04:04:42 AM |
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donations anyone for my great thread?  |
DRK: XtijFQdCcPpKXmtjKF4xdpy6vCvJTymfzw
BTC: 1LbPHiUfegA3Xjfg4YJkJqLNpaRWDcRPay
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empoweoqwj
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December 22, 2013, 04:57:15 AM |
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donations anyone for my great thread? Crikey - there's subtle and there's ..... that  |
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pbody
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December 22, 2013, 05:29:59 AM |
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2015
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BitcoinSteve (OP)
Member
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Activity: 112
Merit: 10
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December 22, 2013, 05:30:58 AM |
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donations anyone for my great thread? Crikey - there's subtle and there's ..... that lol whoops |
DRK: XtijFQdCcPpKXmtjKF4xdpy6vCvJTymfzw
BTC: 1LbPHiUfegA3Xjfg4YJkJqLNpaRWDcRPay
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Azeh
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December 22, 2013, 06:27:24 AM |
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What's to stop the chinese gov from deciding that btcchina is their Silk Road, shutting it down and seizing all the bitcoins on the exchange? If they do that, they could then wait a few months, half a year or whatever, declare bitcoin Good and have a lot of them handy.
The Chinese Government won't shutdown the exchanges; they don't operate like that. Next step, will be to shutdown CNY withdrawals from exchanges. This has already been rumored. Do you remember the last rumor? The one about banning 3rd party payment processors. Yeah, well that turned out to be true, and I believe this will as well. The end result will be an effective handcuffing of Chinese exchanges, without actually shutting them down. The government doesn't want to seem hostile towards Bitcoin and make any new enemies, so they will say it is only temporary, however this is BS. This way they still comply with the Dec. 5th report, which states Bitcoin is a commodity that individuals are free to hold and trade. How many will be left after this happens? Not many. This will cause a short-term price crash on all exchanges. Btc will effectively go underground after this point. If anyone wants to understand the philosophy behind the Chinese governments attack on Bitcoin, I suggest you read "The Art of War" by Sun Tzu |
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seleme
Legendary
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Activity: 2772
Merit: 1028
Duelbits.com
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December 22, 2013, 06:44:10 AM |
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$300-450 is a good price for china not being able to buy coins.
No offense to India, but I have a handful of friends that live there and I have been told that majority of that country is very poor with a small middle class and a handful of the wealthy. I don't think the majority would put to much into bitcoins.
Agreed about India. It won't be India pushing the price up to new levels. It wasn't China who did it except for hype & marketing purposes. Loads of China's traffic was fake or artificially pushed with no fees policy. And loads of their legit traffic was coming from Westerners trading there. China is used as hype to push the price up, it was, is and will always be The West who will make Bitcoin to shine. No CHina, India, Brazil or anyone can do for Bitcoin what one huge Wall Street Fund could do. |
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TERA
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December 22, 2013, 07:47:24 AM |
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Much psychology. Many trade.
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Dafar
Legendary
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Activity: 1330
Merit: 1000
dafar consulting
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December 22, 2013, 08:28:38 AM |
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It wont sky rocket as long as im holding btc because I NEVER have good luck with money or get lucky when i invest. Sorry if I ruined it for everyone else
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sinner
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December 22, 2013, 09:58:10 AM |
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Ah, of course thanks Satoshi and community, but I am still here =) Next entering point for me is in 2016-2017 year.
No legit target during few years. Fuck it, I go away.
i went through the 'analysis never ends' thread and a lot of his predictions are scary good. somehow i doubt he'll be gone for 2 years tho. |
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dg2010
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December 22, 2013, 10:08:06 AM |
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YEAH BUT GUESS WHAT!!!
UP UNTIL NOW, I HAVE ALWAYS BEEN RIGHT!
If you truly believed that you would have been trading the last few days instead of sitting it out. Most of my play btc went this morning as my sell orders got pinged at 660-670 which I picked up not even 7 hours ago at $570. The rally may have some more legs but I'm betting that it will cycle back down again. Seems to me from staring at the charts that although BTC China price is lower than MTGOX + BitStamp, China is still somewhat driving the markets. The rallys in China seem to push the mtgox/bitstamp prices up well before I see any movement there. Might be lags in my charts but whenever I see huge buys in china, stamp jumps up pretty shortly after. |
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btcrich
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December 22, 2013, 10:46:53 AM |
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Why would people here in China get rid of their Bitcoins if they feel that it might be more difficult to obtain them in the future? I certainly would not sell and would be hoarding them instead!
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empoweoqwj
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December 22, 2013, 11:11:55 AM |
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Why would people here in China get rid of their Bitcoins if they feel that it might be more difficult to obtain them in the future? I certainly would not sell and would be hoarding them instead!
I think the Chinese people that want to get rid have done so already. Hence the price has stabilised. You are right. Just like in the west, there will be a lot of hoarders hoping the coins are worth a lot more in the future. |
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