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empoweoqwj
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December 23, 2013, 05:05:39 AM |
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To me this feels a lot like it did after the first boom.
price shot up to 30, came back to ten, some people didn't want to believe it was over and it came back to around 15? and then down to 2.
I remember some pretty sobering times while the price just festered in the five dollar range.
Just to put up a guess, I think we are looking forward to an awkwardly long time in the 400-600 range. I would guess we won't see the next "skyrocket" until May 5 2014.
Love the "May 5" bit - got a problem with May 4?  May 5 is Monday  Gotcha |
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The trust scores you see are subjective; they will change depending on who you have in your trust list. |
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btcrich
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December 24, 2013, 04:19:44 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.
The rich in India will have a major impact. The poor will do what they can to hang on. What exchange will the Indian rich use? Is it easy to wire money in and out of India or are their restrictions like China? There was a thread on the forum about an exchange in India that had just launched. Guarav Burman is also bringing an exchange to India that will have credibility. http://economictimes.indiatimes.com/tech/internet/dabur-scion-gaurav-burman-bites-into-bitcoins/articleshow/27574053.cms$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.
The rich in India will have a major impact. The poor will do what they can to hang on. There is nothing stopping 200 million Indians from buying into sub-1 BTC quantities of Bitcoin ... however this will not do a thing to increase its overall price. Because of BTC's nearly infinite divisibility, theoretically an entire country could buy in mBTC's at a price of $650 and the value wouldn't go up even $1 USD. Don't you think it would be better for the future of Bitcoin to have 200 million people invest $1 each into Bitcoin rather than one person invest $200 million? How would the price not move in either case? |
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empoweoqwj
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December 24, 2013, 04:23:10 AM |
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It could take decades for 200 million people to invest $1 each. That's the only downside.
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btcrich
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December 24, 2013, 04:35:38 AM |
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It could take decades for 200 million people to invest $1 each. That's the only downside.
I was moreso questioning BittBurger's remark that price would not move if large populations bought only small quantities of Bitcoin. Of course you would be dreaming if you thought an Indian exchange would suddenly have 200 million users. Mt. Gox only reached 1 million users just a few days ago. How many users does btcchina have? I'm pretty sure it's not even close to 1 million. Even at 1 million, that would still be less than 0.1% of the population here. |
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piramida
Legendary
 Offline
Activity: 1176
Merit: 1010
Borsche
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December 24, 2013, 10:29:38 AM |
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People will never be bothered to register and buy at exchanges. However, 2014 would be the year of bitcoin ATMs being installed in hundreds around the world. That would help general public chip in, the first ever did over 1mil dollar business in just one month.
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i am satoshi
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empoweoqwj
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December 24, 2013, 10:57:57 AM |
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People will never be bothered to register and buy at exchanges. However, 2014 would be the year of bitcoin ATMs being installed in hundreds around the world. That would help general public chip in, the first ever did over 1mil dollar business in just one month.
Agreed. ATM machines installed in as many locations in as many countries as legalities allow will drive adoption, not dodgy web exchanges which few people appear to like in any way. |
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btcrich
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December 24, 2013, 11:54:51 AM |
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People will never be bothered to register and buy at exchanges. However, 2014 would be the year of bitcoin ATMs being installed in hundreds around the world. That would help general public chip in, the first ever did over 1mil dollar business in just one month.
Agreed. ATM machines installed in as many locations in as many countries as legalities allow will drive adoption, not dodgy web exchanges which few people appear to like in any way. Yes, totally. First one did 1 mil in the first month? That's awesome! I've been meaning to do a bit more research into what I'd need to do to set some up here in China. Hearing this, I should probably get moving on it. |
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piramida
Legendary
Offline
Activity: 1176
Merit: 1010
Borsche
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December 24, 2013, 12:03:31 PM |
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People will never be bothered to register and buy at exchanges. However, 2014 would be the year of bitcoin ATMs being installed in hundreds around the world. That would help general public chip in, the first ever did over 1mil dollar business in just one month.
Agreed. ATM machines installed in as many locations in as many countries as legalities allow will drive adoption, not dodgy web exchanges which few people appear to like in any way. Yes, totally. First one did 1 mil in the first month? That's awesome! I've been meaning to do a bit more research into what I'd need to do to set some up here in China. Hearing this, I should probably get moving on it. It's not as simple as buy one and install one; you have to already have some weight in local business circles to even start discussions with atm manufacturers. Being able to rent a good place for installation is most important. |
i am satoshi
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btcrich
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December 24, 2013, 12:20:17 PM |
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People will never be bothered to register and buy at exchanges. However, 2014 would be the year of bitcoin ATMs being installed in hundreds around the world. That would help general public chip in, the first ever did over 1mil dollar business in just one month.
Agreed. ATM machines installed in as many locations in as many countries as legalities allow will drive adoption, not dodgy web exchanges which few people appear to like in any way. Yes, totally. First one did 1 mil in the first month? That's awesome! I've been meaning to do a bit more research into what I'd need to do to set some up here in China. Hearing this, I should probably get moving on it. It's not as simple as buy one and install one; you have to already have some weight in local business circles to even start discussions with atm manufacturers. Being able to rent a good place for installation is most important. I have retail locations available in Beijing, Shanghai, and Shenzhen already. Also, I can't imagine the hardware being that difficult to acquire here. What I'm interested in is exactly how the transaction is performed and at what premium to the buyer. As long as it can be tied in directly to an exchange to avoid any exposure to the volatile market on my part, seems like a no-brainer. Either way, will research this. |
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suukool
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December 24, 2013, 01:05:57 PM |
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Ha ha! I just meant the way you phrased it "bullish until just after the double-top"... sounds obvious, get it?
But if you want to talk seriously about predicting bitcoin price movements... I admit it - it's a fair cop - I'm pretty crap at it!
Yeah...to me it was obvious. But apparently not to 80% of the 'HODL' phrase using retards on this forum. If you want to go find someone on here with an uncanny ability for pulling Bitcoin predictions out of his dreams n shit like that, go and search for a poster called zukool (or something like that). Bitcoin was charging up towards its first $1200 top when he came out and stated he had dreams where Bitcoin was back trading in $200 range. Sounded inconceivable at the time, but we got pretty close to that already and if William Hill (I assume you are from UK, Scottish even?) were taking bets on Bitcoin prices, I don't think that you would get great odds by betting on Bitcoin to hit $200 range before Jan 2014 is out. It's SuuKool...and thank you. Bitcoin is going UP not down. |
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