piramida
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Activity: 1176
Merit: 1010
Borsche
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January 05, 2014, 02:52:47 PM |
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I don't think there is any need to artificially try and breathe life into bitcoin economy. It will kickstart itself big time, and when it does, your alpaca socks would be not even funny. Most of the internet gaming would be using bitcoin by the end of 2014, that is a trillion dollar economy. You don't need to buy real goods nominated in USD-converted bitcoins, it's artificial and not really a bitcoin trade. The real thing is starting  All your online games, porn, poker, VPSes, every other digital good will be using stateless bitcoin and the prices would be set in bitcoin, and that's how it will all start Real goods will not be nominated in bitcoin at least another 10 years. Bitpay is an artificial way to pay in "kinda-bitcoin", while actually you are transacting in USD and bitcoin is just the transfer protocol, but it is not very different from paypal. Actual bitcoin trade is when you pay in bitcoin, the price is set in bitcoin (and dollar price changes depending on the ratio), and merchant receives and keeps bitcoin. This is only possible for digital goods, now. |
i am satoshi
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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T.Stuart
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January 05, 2014, 02:55:20 PM |
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I don't think there is any need to artificially try and breathe life into bitcoin economy. It will kickstart itself big time, and when it does, your alpaca socks would be not even funny. Most of the internet gaming would be using bitcoin by the end of 2014, that is a trillion dollar economy. You don't need to buy real goods nominated in USD-converted bitcoins, it's artificial and not really a bitcoin trade. The real thing is starting I bet my socks will still be funny!  Probably worth a lot as a collectible also in the future! But I do think that the faster speculation goes about the real value of a Bitcoin - which is what all this is about of course - the faster the Bitcoin economy needs to ... explode!  |
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Richard Branson
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January 05, 2014, 02:56:05 PM |
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The real gaming industrie will start accepting bitcoin soon.
zynga doesn't count. Zynga is a scam with micro payments and a lot of dumb people fall for it.
The non speculative part is still very small. There is nothing else than buy and hold...
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T.Stuart
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January 05, 2014, 02:57:16 PM |
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The real gaming industrie will start accepting bitcoin soon.
zynga doesn't count. Zynga is a scam with micro payments and a lot of dumb people fall for it.
Richard Branson I am starting to think you might be a scam... unless you let me test-drive your spaceship! |
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DieJohnny
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Activity: 1639
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January 05, 2014, 03:01:26 PM |
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I am not sure we have even seen full bear capitulation yet.... it is coming
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Those who hold and those who are without property have ever formed distinct interests in society
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T.Stuart
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January 05, 2014, 03:02:11 PM |
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I am not sure we have even seen full bear capitulation yet.... it is coming
No way |
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bitcryptonit
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Activity: 93
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January 05, 2014, 03:11:01 PM |
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I am not sure we have even seen full bear capitulation yet.... it is coming
yes, it is already happening with dollar, go and enjoy this. |
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arepo
Sr. Member
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Activity: 448
Merit: 250
this statement is false
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January 05, 2014, 03:14:50 PM |
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I am not sure we have even seen full bear capitulation yet.... it is coming
yup, we should see another capitulation event on the mid-term. this exponential minirally/bulltrap is a great setup for the dumpers. we're so far above the trendline now i'm dizzy... --arepo |
this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
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JimboToronto
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Activity: 4004
Merit: 4475
You're never too old to think young.
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January 05, 2014, 03:20:11 PM |
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I am not sure we have even seen full bear capitulation yet.... it is coming
This reminds me of last July when some bears clung to their hopes of $30-50 coins (or even cheaper) and predicted "no triple digits for 2013" as the price moved steadily upwards after capitulation at $66. Get over it. Capitulation was at $455 this time around. It's time to move on. Sure there will be dips and panics (like the Satoshi Dice sale or Silk Road bust) but the uptrend is on. |
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arepo
Sr. Member
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Activity: 448
Merit: 250
this statement is false
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January 05, 2014, 03:23:47 PM |
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I am not sure we have even seen full bear capitulation yet.... it is coming
This reminds me of last July when some bears clung to their hopes of $30-50 coins (or even cheaper) and predicted "no triple digits for 2013" as the price moved steadily upwards after capitulation at $66. Get over it. Capitulation was at $455 this time around. It's time to move on. Sure there will be dips and panics (like the Satoshi Dice sale or Silk Road bust) but the uptrend is on. this is simply false. there is a window of opportunity based on the classic bubble pattern about 3 weeks after the period of low volume right before the upwards correction. we saw the consolidation with low volume, and now we're seeing the upwards correction. the greed of short-term-memory-impaired traders will drive us to some ridiculous high (but fall short of a new ATH), the trend will exhaust, and the failure to break up towards a new ATH will spark a short, sudden, high-volume capitulation. where, in terms of price, this will take us is a much harder question but the fact remains that the price environment is begging for it. --arepo |
this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
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T.Stuart
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January 05, 2014, 03:26:27 PM |
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Get over it. Capitulation was at $455 this time around. It's time to move on.
Man I've said it so many times but $455 was so clearly rock bottom. |
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T.Stuart
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January 05, 2014, 03:28:06 PM |
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...there is a window of opportunity based on the classic bubble pattern about 3 weeks ...
blah blah blah blah blah. last May blah blah. 2011 blah blah. Have you not noticed what is going on right now in the Bitcoin world? |
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vendetahome
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January 05, 2014, 03:33:23 PM |
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Real goods will not be nominated in bitcoin at least another 10 years. Bitpay is an artificial way to pay in "kinda-bitcoin", while actually you are transacting in USD and bitcoin is just the transfer protocol, but it is not very different from paypal. Actual bitcoin trade is when you pay in bitcoin, the price is set in bitcoin (and dollar price changes depending on the ratio), and merchant receives and keeps bitcoin. This is only possible for digital goods, now. What about avalon chips? You could buy only for BTC and USB Block errupters using these chips costed about 0.06 BTC no matter how the USD/BTC moved |
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DieJohnny
Legendary
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Activity: 1639
Merit: 1004
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January 05, 2014, 03:34:54 PM |
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I am not sure we have even seen full bear capitulation yet.... it is coming
This reminds me of last July when some bears clung to their hopes of $30-50 coins (or even cheaper) and predicted "no triple digits for 2013" as the price moved steadily upwards after capitulation at $66. Get over it. Capitulation was at $455 this time around. It's time to move on. Sure there will be dips and panics (like the Satoshi Dice sale or Silk Road bust) but the uptrend is on. this is simply false. there is a window of opportunity based on the classic bubble pattern about 3 weeks after the period of low volume right before the upwards correction. we saw the consolidation with low volume, and now we're seeing the upwards correction. the greed of short-term-memory-impaired traders will drive us to some ridiculous high (but fall short of a new ATH), the trend will exhaust, and the failure to break up towards a new ATH will spark a short, sudden, high-volume capitulation. where, in terms of price, this will take us is a much harder question but the fact remains that the price environment is begging for it. --arepo Like i said we haven't seen full bear capitulation yet. Arepo and others will eventually spend all their fiat, my guess it will be when we go past 1250 to 1350 in a single day. |
Those who hold and those who are without property have ever formed distinct interests in society
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JimboToronto
Legendary
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Activity: 4004
Merit: 4475
You're never too old to think young.
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January 05, 2014, 03:36:00 PM |
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...there is a window of opportunity based on the classic bubble pattern about 3 weeks ...
blah blah blah blah blah. last May blah blah. 2011 blah blah. Have you not noticed what is going on right now in the Bitcoin world? Bears in denial? |
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JimboToronto
Legendary
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Activity: 4004
Merit: 4475
You're never too old to think young.
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January 05, 2014, 03:43:39 PM |
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Like i said we haven't seen full bear capitulation yet. Arepo and others will eventually spend all their fiat, my guess it will be when we go past 1250 to 1350 in a single day.
Sorry. I misread your post about full bear capitulation. I was thinking about full panicker capitulation where people sell at a loss, not bear capitulation where people buy back in at a loss. I just woke up. Time to grind some coffee beans. |
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Feri22
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January 05, 2014, 03:54:00 PM |
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I am not sure we have even seen full bear capitulation yet.... it is coming
This reminds me of last July when some bears clung to their hopes of $30-50 coins (or even cheaper) and predicted "no triple digits for 2013" as the price moved steadily upwards after capitulation at $66. Get over it. Capitulation was at $455 this time around. It's time to move on. Sure there will be dips and panics (like the Satoshi Dice sale or Silk Road bust) but the uptrend is on. this is simply false. there is a window of opportunity based on the classic bubble pattern about 3 weeks after the period of low volume right before the upwards correction. we saw the consolidation with low volume, and now we're seeing the upwards correction. the greed of short-term-memory-impaired traders will drive us to some ridiculous high (but fall short of a new ATH), the trend will exhaust, and the failure to break up towards a new ATH will spark a short, sudden, high-volume capitulation. where, in terms of price, this will take us is a much harder question but the fact remains that the price environment is begging for it. --arepo I think you are wrong  |
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bitrider
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January 05, 2014, 03:57:02 PM |
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I am not sure we have even seen full bear capitulation yet.... it is coming
This reminds me of last July when some bears clung to their hopes of $30-50 coins (or even cheaper) and predicted "no triple digits for 2013" as the price moved steadily upwards after capitulation at $66. Get over it. Capitulation was at $455 this time around. It's time to move on. Sure there will be dips and panics (like the Satoshi Dice sale or Silk Road bust) but the uptrend is on. this is simply false. there is a window of opportunity based on the classic bubble pattern about 3 weeks after the period of low volume right before the upwards correction. we saw the consolidation with low volume, and now we're seeing the upwards correction. the greed of short-term-memory-impaired traders will drive us to some ridiculous high (but fall short of a new ATH), the trend will exhaust, and the failure to break up towards a new ATH will spark a short, sudden, high-volume capitulation. where, in terms of price, this will take us is a much harder question but the fact remains that the price environment is begging for it. --arepo +1 Having watched this for a couple of years now, this is my read as well. $450 might be the new low, but I'm guessing we will test even lower to flush out the easy money players. Remember that there is plenty of big money that wants to get in the game and as long as there are weak hand players - and there are lots of new ones - they will make repeated efforts to drive the price to lower entry. This will be healthy for the long-term bull trend, but looks very scary if you don't know what is going on. That said, I'm not in fiat, and will take advantage of any big drop with new money. |
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arepo
Sr. Member
Offline
Activity: 448
Merit: 250
this statement is false
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January 05, 2014, 04:00:12 PM |
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I am not sure we have even seen full bear capitulation yet.... it is coming
This reminds me of last July when some bears clung to their hopes of $30-50 coins (or even cheaper) and predicted "no triple digits for 2013" as the price moved steadily upwards after capitulation at $66. Get over it. Capitulation was at $455 this time around. It's time to move on. Sure there will be dips and panics (like the Satoshi Dice sale or Silk Road bust) but the uptrend is on. this is simply false. there is a window of opportunity based on the classic bubble pattern about 3 weeks after the period of low volume right before the upwards correction. we saw the consolidation with low volume, and now we're seeing the upwards correction. the greed of short-term-memory-impaired traders will drive us to some ridiculous high (but fall short of a new ATH), the trend will exhaust, and the failure to break up towards a new ATH will spark a short, sudden, high-volume capitulation. where, in terms of price, this will take us is a much harder question but the fact remains that the price environment is begging for it. --arepo +1 Having watched this for a couple of years now, this is my read as well. $450 might be the new low, but I'm guessing we will test even lower to flush out the easy money players. Remember that there is plenty of big money that wants to get in the game and as long as there are weak hand players - and there are lots of new ones - they will make repeated efforts to drive the price to lower entry. This will be healthy for the long-term bull trend, but looks very scary if you don't know what is going on. That said, I'm not in fiat, and will take advantage of any big drop with new money. i agree with you but i suspect that $450 is a very solid bottom. |
this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
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piramida
Legendary
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Activity: 1176
Merit: 1010
Borsche
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January 05, 2014, 04:01:53 PM |
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I'm guessing we will test even lower to flush out the easy money players. Remember that there is plenty of big money that wants to get in the game and as long as there are weak hand players - and there are lots of new ones - they will make repeated efforts to drive the price to lower entry.
Not realistic. 72 million USD sitting in bids waiting on gox. Right now, these money are extremely anxious that they are not participating. They will buy out any dips immediately, so 50% correction is not happening yet, I doubt we will see anything larger than 20% in January. The bull must ride for a while. |
i am satoshi
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