The reason why bitcoin will never *stay* below 5000$ again. PROVE ME WRONG

[Blue9999]

Okay!

Listen:

If bitcoin stays under 5000$ by the end of 2018, I will eat a fried dead mouse and I will post the pictures on this thread.

Quoted this just in case.

Btw we are all waiting so let us know how it taste 

[1714857846]

1714857846

[1714857846]

1714857846

[1714857846]

1714857846

[quartzz]

Okay!

Listen:

If bitcoin stays under 5000$ by the end of 2018, I will eat a fried dead mouse and I will post the pictures on this thread.

Ahahah wtf

You took less risks than McAfee but still I'm looking forward to check that out!
https://twitter.com/officialmcafee/status/959399180111417344

[gentlemand]

Price is determined by the balance of supply and demand, not the cost of production, which the recent price crash has shown again.

People here often seem to refuse to believe that miners are followers, not leaders. They react to what the market forces on them, not vice versa. And that's how it was designed and that's how it should be. No one other than miners needs to care about the cost of production.

Anyway, this thread is yet another that has not aged well but let's hope a mouse doesn't have to die.

[ju34400]

Okay!

Listen:

If bitcoin stays under 5000$ by the end of 2018, I will eat a fried dead mouse and I will post the pictures on this thread.

with a good BBQ sauce it's tasty

[xtraelv]

Photos ? 

[Pursuer]

Price is determined by the balance of supply and demand, not the cost of production, which the recent price crash has shown again.

People here often seem to refuse to believe that miners are followers, not leaders. They react to what the market forces on them, not vice versa. And that's how it was designed and that's how it should be. No one other than miners needs to care about the cost of production.

Anyway, this thread is yet another that has not aged well but let's hope a mouse doesn't have to die.

this is a good point but not quite correct.
miners are neither "followers" nor "leaders", when you say they are "followers" you are exaggerating their involvement just as others are thinking of them as "leaders".
the fact is, miners are a part of this system like anybody else but they have more at stake compare to simple investors who only have bitcoin. because a miner both has bitcoin and has equipment. while a simple investor can sell and get out in a short time (as fast as he can transfer his coins to exchange and sell) the miner can't just get out if they want to because they have to shut down their miners and sell those to get out and you can't get back in as easy either because again it would require buying ASICs.

[Vaskiy]

The price has fallen sideways, and the same is not because of the manipulation. It is just a price fluctuation as it happens before, and this time the price was predicted to go $3200 or to ₹4200. Market went $4200 and the same assures the growth will happen reaching $6000 crossing the $5000.

[deisik]

Price is determined by the balance of supply and demand, not the cost of production, which the recent price crash has shown again.

People here often seem to refuse to believe that miners are followers, not leaders. They react to what the market forces on them, not vice versa. And that's how it was designed and that's how it should be. No one other than miners needs to care about the cost of production.

Anyway, this thread is yet another that has not aged well but let's hope a mouse doesn't have to die.

this is a good point but not quite correct.
miners are neither "followers" nor "leaders", when you say they are "followers" you are exaggerating their involvement just as others are thinking of them as "leaders".
the fact is, miners are a part of this system like anybody else but they have more at stake compare to simple investors who only have bitcoin. because a miner both has bitcoin and has equipment. while a simple investor can sell and get out in a short time (as fast as he can transfer his coins to exchange and sell) the miner can't just get out if they want to because they have to shut down their miners and sell those to get out and you can't get back in as easy either because again it would require buying ASICs

Well, your point is not quite correct either

As you seem to forget that miners are mining for a profit, while the cost of mining rigs is fixed. It means that just like with traders they have a breakeven point, and the longer they mine the closer they get to it (provided they are mining for a profit, of course). So in due course their profits start to exceed both the operating costs (i.e. electricity costs) and the cost of invested capital (i.e. the costs of equipment). From then on the cost of equipment becomes irrelevant apart from what they could sell their mining rigs for, naturally (but this works in their favor typically)

[Mister1k]

The current crypto market is persuasive even with a specific level of capital in light of the fact that there is no mindfulness in regards to the conduct of the market. This outcomes in the production of frenzy waves which are advantageous for the huge whales and institutional speculators. We ought to likewise consider the factor of the development of Bitcoin as far as utility instrument in the coming years.

[Idrisu]

Current Market cap is 120b $ (actually real market cap much lower than that due to lost btc and so on); that could be 1000 people with 120m$ hidden. Anyone who has approximately that amount of btc would be very able to buy the market would it temporarily drop significantly below 5000$ per btc, due to the very limited (and shrinking) actual supply of bitcoin and availability in the exchanges.

I think what we witnessed in last december will happen again and at a greater extent. Don't ask me when, but that's a given.

Bitcoin has been chosen.
Why? Possibly positioning.

Price won't give a fuck on whether it can be used everyday to buy stuff. Its purpose it for wealthy billionaires to keep part of their wealth inaccessible through offline wallets.
Whether tx take 1 hours to go and cost 10 bucks each.
Whether the nodes get a little bit more or a little bit less centralized.

All that matters is the one reason I stated above.
Everything else is just smoke for sardines.

This thread open long time ago and it is still relevant to the discussion in cryptocurrencies cycle today.  Bitcoin will do well in future but the current market is making people to lose hope on the market.  Bitcoin is currently below $4000 and many of us believe that it is currently undervalued.