Welcome back $700 BTC ...

[antimattercrusader]

haha 10k USD. I was just making fun of someone who said 1M by end of 2015 then I realized that releveant to the paper trash USD that may end up happening. Course a loaf of bread may require a truckload of cash at that time as well.

In today's purchasing power, however, I better get soem advil for the headache I'll have from that cryochamber.

[Dafar]

Seriously, we are excited about $700 now? We were over $1000 just 3 months ago... we are aiming too low my brothers

[Armis]

Seriously, we are excited about $700 now? We were over $1000 just 3 months ago... we are aiming too low my brothers

BTC in all reality has an true market value of $400, it's unreasonable to appraise it any higher on practical grounds.    Given that the gox matter is not finally resolved we are exremely lucky it isn't on a perpetual downward slide.  The simple fact is most of btc's success is hype driven driven so hard it stuck (no one does it better than dodgecoin), if you remove the media hype and all other hype btc is worth $400. 

What do you think raised the market value from avg $565 to present avg $685?  Certainly not the app, it was three things:
1) the market movement,
2) the hype ABOUT something new to come
and
3) to a far less degree the app

The market responded MOST to NOTHING -- was was actually people trading because the market was rising, and responded least to the actual app, what a shame that the news about 'something about to be announced' garnered more market appreciation than the actual news -- the very definition of anticlimactic.   You could expect the market to shave off some %s in the coming days unless there is sustained hype until some meaningful changes is applied to the protocol or how exchanges are fundamentally doing business.

[dani]

Seriously, we are excited about $700 now? We were over $1000 just 3 months ago... we are aiming too low my brothers

BTC in all reality has an true market value of $400, it's unreasonable to appraise it any higher on practical grounds.    Given that the gox matter is not finally resolved we are exremely lucky it isn't on a perpetual downward slide.  The simple fact is most of btc's success is hype driven driven so hard it stuck (no one does it better than dodgecoin), if you remove the media hype and all other hype btc is worth $400.  

What do you think raised the market value from avg $565 to present avg $685?  Certainly not the app, it was three things:
1) the market movement,
2) the hype ABOUT something new to come
and
3) to a far less degree the app

The market responded MOST to NOTHING -- was was actually people trading because the market was rising, and responded least to the actual app, what a shame that the news about 'something about to be announced' garnered more market appreciation than the actual news -- the very definition of anticlimactic.   You could expect the market to shave off some %s in the coming days unless there is sustained hype until some meaningful changes is applied to the protocol or how exchanges are fundamentally doing business.

requote this soon.

[Dafar]

The market responded MOST to NOTHING -- was was actually people trading because the market was rising, and responded least to the actual app, what a shame that the news about 'something about to be announced' garnered more market appreciation than the actual news -- the very definition of anticlimactic.   You could expect the market to shave off some %s in the coming days unless there is sustained hype until some meaningful changes is applied to the protocol or how exchanges are fundamentally doing business.

I completely disagree with you.


And the bold part, that's how ALL markets are

[Dr. LY]

Seriously, we are excited about $700 now? We were over $1000 just 3 months ago... we are aiming too low my brothers

BTC in all reality has an true market value of $400, it's unreasonable to appraise it any higher on practical grounds.    Given that the gox matter is not finally resolved we are exremely lucky it isn't on a perpetual downward slide.  The simple fact is most of btc's success is hype driven driven so hard it stuck (no one does it better than dodgecoin), if you remove the media hype and all other hype btc is worth $400. 

What do you think raised the market value from avg $565 to present avg $685?  Certainly not the app, it was three things:
1) the market movement,
2) the hype ABOUT something new to come
and
3) to a far less degree the app

The market responded MOST to NOTHING -- was was actually people trading because the market was rising, and responded least to the actual app, what a shame that the news about 'something about to be announced' garnered more market appreciation than the actual news -- the very definition of anticlimactic.   You could expect the market to shave off some %s in the coming days unless there is sustained hype until some meaningful changes is applied to the protocol or how exchanges are fundamentally doing business.

Did you just pull $400 out of your rear or something? Why $400? Why not $380? Why not $182.25? Why not $5.75?

[Armis]

The market responded MOST to NOTHING -- was was actually people trading because the market was rising, and responded least to the actual app, what a shame that the news about 'something about to be announced' garnered more market appreciation than the actual news -- the very definition of anticlimactic.   You could expect the market to shave off some %s in the coming days unless there is sustained hype until some meaningful changes is applied to the protocol or how exchanges are fundamentally doing business.

I completely disagree with you.


And the bold part, that's how ALL markets are

There were many things that the btc market, with baited breath, was anticipating: some hoped for a revelation about Mark, one hoped for news about a big bank endorsement of btc, and I hoped for an announcement about a btc protocol security upgrade ...

That bank endorsement would have given btc a large hype boost, my suggestion would have provide a true market value boost, and the first option would have probably gotten a longer lasting positive market reaction than the app.

Hype is the primarily driver of btc market prices, has been since it broke $100, now that one tire is flat (the protocol security issue) the standard hype just doesn't go as far anymore.   The exchanges need to announce massive improvement to their business models, and the btc protocol must be significantly enhanced, if you want long-term sustainable growth.

Poloniex just got robbed, made a responsible public announcement which included draconian measures, including a forced loan from all btc holders (12%+ btc value) to help them recover.    Given the Mt Gox situation the community essentially welcomed the announcement with open arms -- mass PTSD.  



 

  

 

[galbros]

I was just sorry it could not sustain the 700 USD level for any meaningful amount of time.  I hope it's back up again soon.

[Armis]

Seriously, we are excited about $700 now? We were over $1000 just 3 months ago... we are aiming too low my brothers

BTC in all reality has an true market value of $400, it's unreasonable to appraise it any higher on practical grounds.    Given that the gox matter is not finally resolved we are exremely lucky it isn't on a perpetual downward slide.  The simple fact is most of btc's success is hype driven driven so hard it stuck (no one does it better than dodgecoin), if you remove the media hype and all other hype btc is worth $400. 

What do you think raised the market value from avg $565 to present avg $685?  Certainly not the app, it was three things:
1) the market movement,
2) the hype ABOUT something new to come
and
3) to a far less degree the app

The market responded MOST to NOTHING -- was was actually people trading because the market was rising, and responded least to the actual app, what a shame that the news about 'something about to be announced' garnered more market appreciation than the actual news -- the very definition of anticlimactic.   You could expect the market to shave off some %s in the coming days unless there is sustained hype until some meaningful changes is applied to the protocol or how exchanges are fundamentally doing business.

Did you just pull $400 out of your rear or something? Why $400? Why not $380? Why not $182.25? Why not $5.75?

Here's essentially what I did, I took the organic growth (meaningful development not influenced by gratuitous hype) of btc and projected it forward.    .  

Last month that number was $500, now it's $400, next week it will be $380.

It dropped from $500 to $400 because two of the vehicles I counted as meaningful developments for long-term sustainable btc growth proved less effective then what should reasonable be expected.  The first was the Bitcoin Foundation - a major development for btc which lost significant credibility when TWO of its founding directors resigned under clouds.  And the BitcoinTalk forum - a major development for btc (and the whole cryptocurrency community).  However, the community came up short in 3 ways:

1) the petition to remove Mark from the board should have gotten at least 1% of the membership within a week, it didn't
2) After Gox stopped withdrawals, organized efforts should have resulted in substantially less financial loss for the community,
3) the ongoing inability of the community to get from the blockchain what it needs to be reasonable informed, and subsequently being unable to receive adequate accountability, transparency, and security from the exchanges.

As of last week, everyone knows or should know that what occurred to Mt Gox could easily reoccur multiple times, yet there has been not meaningful upgrades to the btc infrastructure.  Nor has the exchanges filled in that 'insecurity gap' with assurances, guarantees, bonding, insurance, certification, proof of solvency, etc ... as such the $400 will decrease to $380 next week.   Follow that forward, without meaningful change in a month the true value of btc will be $100.

A valuation based on empirical evidence, critical thinking and logical reasoning makes sense.

[bananas]

There is nothing going on other than massive dirt on bitcoin name, the tendency is of value decline.

[Dafar]

A valuation based on empirical evidence, critical thinking and logical reasoning makes sense.

And non of that was seen in your post. You are talking out of your ass

[Armis]

A valuation based on empirical evidence, critical thinking and logical reasoning makes sense.

And non of that was seen in your post. You are talking out of your ass

you're a moron ... what was it that you didn't see?

- you didn't see the valuation?
- you don't understand what "based on" means?
- you need someone to spoon feed you charts, and links to media and forum hype? 
- do you even know what 'critical thinking' and or 'logical reasoning' is?


don't even bother to answer you're on ignore ...

[Dafar]

A valuation based on empirical evidence, critical thinking and logical reasoning makes sense.

And non of that was seen in your post. You are talking out of your ass

you're a moron ... what was it that you didn't see?

- you didn't see the valuation?
- you don't understand what "based on" means?
- you need someone to spoon feed you charts, and links to media and forum hype? 
- do you even know what 'critical thinking' and or 'logical reasoning' is?


don't even bother to answer you're on ignore ...

Lol you upset? It's not my fault you are incapable of a decent analysis after all that typing

[rohnearner]

Yawn.... Wake me up when BTC is $10k

haha now thats optimism , and i like it..! btw its still in between 650$-700$.

[frobley]

Seriously, we are excited about $700 now? We were over $1000 just 3 months ago... we are aiming too low my brothers

BTC in all reality has an true market value of $400, it's unreasonable to appraise it any higher on practical grounds.    Given that the gox matter is not finally resolved we are exremely lucky it isn't on a perpetual downward slide.  The simple fact is most of btc's success is hype driven driven so hard it stuck (no one does it better than dodgecoin), if you remove the media hype and all other hype btc is worth $400. 

What do you think raised the market value from avg $565 to present avg $685?  Certainly not the app, it was three things:
1) the market movement,
2) the hype ABOUT something new to come
and
3) to a far less degree the app

The market responded MOST to NOTHING -- was was actually people trading because the market was rising, and responded least to the actual app, what a shame that the news about 'something about to be announced' garnered more market appreciation than the actual news -- the very definition of anticlimactic.   You could expect the market to shave off some %s in the coming days unless there is sustained hype until some meaningful changes is applied to the protocol or how exchanges are fundamentally doing business.

Did you just pull $400 out of your rear or something? Why $400? Why not $380? Why not $182.25? Why not $5.75?

Here's essentially what I did, I took the organic growth (meaningful development not influenced by gratuitous hype) of btc and projected it forward.    .  

Last month that number was $500, now it's $400, next week it will be $380.

It dropped from $500 to $400 because two of the vehicles I counted as meaningful developments for long-term sustainable btc growth proved less effective then what should reasonable be expected.  The first was the Bitcoin Foundation - a major development for btc which lost significant credibility when TWO of its founding directors resigned under clouds.  And the BitcoinTalk forum - a major development for btc (and the whole cryptocurrency community).  However, the community came up short in 3 ways:

1) the petition to remove Mark from the board should have gotten at least 1% of the membership within a week, it didn't
2) After Gox stopped withdrawals, organized efforts should have resulted in substantially less financial loss for the community,
3) the ongoing inability of the community to get from the blockchain what it needs to be reasonable informed, and subsequently being unable to receive adequate accountability, transparency, and security from the exchanges.

As of last week, everyone knows or should know that what occurred to Mt Gox could easily reoccur multiple times, yet there has been not meaningful upgrades to the btc infrastructure.  Nor has the exchanges filled in that 'insecurity gap' with assurances, guarantees, bonding, insurance, certification, proof of solvency, etc ... as such the $400 will decrease to $380 next week.   Follow that forward, without meaningful change in a month the true value of btc will be $100.

A valuation based on empirical evidence, critical thinking and logical reasoning makes sense.

this 2 month old account should know,
recorded for posterity

[Armis]

Come on $700, come to daddy ...