ndnh
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January 13, 2015, 04:20:42 AM |
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From this point of time it is $9. It cannot go lower than that. Unless something misplaces bitcoin, which is quite unlikely in current situations. If price hits say $25, you can expect people to buy in hordes of bitcoin for a chance to become a millionaire sometimes in the future. |
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"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
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adaseb
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January 13, 2015, 04:30:57 AM |
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From this point of time it is $9. It cannot go lower than that. Unless something misplaces bitcoin, which is quite unlikely in current situations. If price hits say $25, you can expect people to buy in hordes of bitcoin for a chance to become a millionaire sometimes in the future. Yes but its still a very bad price. Even if it stabailises there. Imagine the amount of people losing money on mining rigs and ASICs |
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Chef Ramsay
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January 13, 2015, 04:48:27 AM |
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From this point of time it is $9. It cannot go lower than that. Unless something misplaces bitcoin, which is quite unlikely in current situations. If price hits say $25, you can expect people to buy in hordes of bitcoin for a chance to become a millionaire sometimes in the future. No chance, in this range you're seeing next to the last bit of panic sellers doing their thing and we're down to a very small % that is willing to sell at this point and the traders are realizing that. Buyers are holding the 244$ range after the drop and the potential final purge into the low 200s will trigger shitloads of buyers of all kinds scooping up last call on the cheap coins. Like, backing the fucking truck up and going all in like we've never seen. I just bought myself a nice lot and reserving the bulk of my available fiat if it sinks to or below the 220 mark. The rebound may surprise people.  |
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twiifm
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January 13, 2015, 04:52:22 AM |
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With a technology shift, the coins will be concentrated to those who have invested in leading technologies, thus the rest of the people who want to get coin have no choice but to buy, thus push up the price dramatically. But this time when there is no large technology advance in horizon, the dramatic price swing might not happen again
I'm always curious as to why people without bitcoin have 'no choice' but to buy bitcoins from the few that own them. There are plenty of businesses that may want to use bitcoin, but from a customer's point of view the only really compelling reason to own bitcoins is to buy something that's illegal or restricted in their own country. It's a valid use that cannot be denied, but it's a relatively small one. Thanks for that. Because these lunatic cultists haven't thought of the obvious. |
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MemoryShock
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January 13, 2015, 05:06:43 AM |
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With a technology shift, the coins will be concentrated to those who have invested in leading technologies, thus the rest of the people who want to get coin have no choice but to buy, thus push up the price dramatically. But this time when there is no large technology advance in horizon, the dramatic price swing might not happen again
I'm always curious as to why people without bitcoin have 'no choice' but to buy bitcoins from the few that own them. There are plenty of businesses that may want to use bitcoin, but from a customer's point of view the only really compelling reason to own bitcoins is to buy something that's illegal or restricted in their own country. It's a valid use that cannot be denied, but it's a relatively small one. Thanks for that. Because these lunatic cultists haven't thought of the obvious. It should be noted that in the last auction the US MArshalls sent millions of dollars worth of BTC for about four cents. http://www.coinssource.com/81-million-bitcoin-transaction-erupts-social-media-into-speculation/BTC has use but the tech is what is being dealt with right now. Either sidechains create a BTC on steroids or another alt takes its place. At least that is my simplified opinion. |
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Nagle
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January 13, 2015, 05:07:29 AM |
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I'm always curious as to why people without bitcoin have 'no choice' but to buy bitcoins from the few that own them. There are plenty of businesses that may want to use bitcoin, but from a customer's point of view the only really compelling reason to own bitcoins is to buy something that's illegal or restricted in their own country. It's a valid use that cannot be denied, but it's a relatively small one.
Right. As I've pointed out before, Bitcoin has had two major bubbles - Silk Road and China exchange controls. Both existed only because Bitcoin offered what seemed to be a safe way to do something illegal or restricted. Both collapsed once the relevant authorities figured out how to stop it. Without a new large use case like those, it's downhill from here. |
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Nagle
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January 13, 2015, 05:09:43 AM |
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BTC has use but the tech is what is being dealt with right now. Either sidechains create a BTC on steroids or another alt takes its place. At least that is my simplified opinion. Ripple, Etherium, and Paycoin all tried to do that. How did that work out? |
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MemoryShock
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January 13, 2015, 05:16:27 AM |
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BTC has use but the tech is what is being dealt with right now. Either sidechains create a BTC on steroids or another alt takes its place. At least that is my simplified opinion. Ripple, Etherium, and Paycoin all tried to do that. How did that work out? Not a fair sample size...with regards to time and example. Personally, I don't think Ripple counts. Ethereum is still in development and I don't have too much hope for it - it needs BTC in order to sell their higher end product. Paycoin is a scam and nothing will convince me otherwise. I placed nothing in all three...and I still stand by my assertion. Note, I am not claiming that I have invested in any altcoin that might replace BTC...I actually believe sidechains will do it... |
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Melbustus
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January 13, 2015, 05:23:12 AM |
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I'm always curious as to why people without bitcoin have 'no choice' but to buy bitcoins from the few that own them. There are plenty of businesses that may want to use bitcoin, but from a customer's point of view the only really compelling reason to own bitcoins is to buy something that's illegal or restricted in their own country. It's a valid use that cannot be denied, but it's a relatively small one.
Right. As I've pointed out before... For those who don't know Nagle, here's some other stuff he's pointed out before....at almost exactly one-hundredth the current price: ... We might see $3. After each big drop, there's been some recovery. But each top was lower than the last, and each recovery lasted no more than three days.
no one's listening to you. Actually, I've received several private messages recently thanking me for keeping them from making a big financial mistake. Now let's have a look at "cypherdoc"'s track record: - September 3, 2011: "while the falloff has been dramatic, it appears to be stabilizing around this 8-10 range. i keep accumulating on the way down. just give it time. they can't stop it."
- August 4, 2011: "Re: $10,000 Bet that Bitcoins will outperform Gold, Silver by 100X !!! --- i happen to agree and i've staked my money on it!!!!"
- July 9, 2011: "i will also bet any or all of you btc bears/trolls in this thread 100 BTC each to be held in escrow that the USD price of 1 BTC will exceed $20 in one year."
If he's telling the truth, he's lost a lot of money in Bitcoin. Anybody fool enough to listen to him did, too. Those people you kept from "making a big financial mistake"....you actually prevented from making a 5000%-10000% return! A few more quotes: I've been saying "long slow slide" for months. That happened. Now we're seeing the endgame, which looks like the endgame for most penny stocks. The volume is low, around $50,000 per day. Some of that is 'bots running the same money back and forth; the actual volume out of the market is smaller. The price moves around whenever anybody makes a sizable transaction. I'm not expecting a big drop, just random noise with a long-term downtrend.
Bitcoin is now useless as a currency, because liquidating the day's receipts for one reasonably sized store would crash the market.
The end is coming not with a bang, but with a whimper.
...It's zombie mode, the fate of many startups. They're not going anywhere, they can't pay back their investors, but they generate just enough activity to keep alive.
And I just briefly looked at your post history cuz I remember your trolling from 2011. You have many months worth of posts predicting the "endgame" of bitcoin as a result of the 2011 ramp and fall. There are probably a good deal more blantantly wrong predictions/statements from you that one could dig up. A couple interesting quotes, though: ...
I'd like to see a digital currency that works well enough to compete with Paypal. I've seen Digicash, Beenz, and Flooz tank. Bitcoin isn't going to do much better.
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Bitcoin's innovation is not that it prevents double-spending. That was invented by David Chaum in the 1990s and formed the basis of DigiCash. Nor is "mining" new; that's from Hashcash in the 1990s. Bitcoin combines the two concepts. The end result is a lot like Digicash, but distributed.
Despite the fact that you seem to realize that bitcoin is the first decentralized digital cash (and hence, the first *actual* realization of the efforts of all those early digital-money guys from the 80s and 90s; ie, their "holy grail" of money), you dump it into the same bucket as Digicash, Beenz, and Flooz. THAT is possibly the core source of your intellectual errors. Bitcoin is indeed not the first digital cash system. It's just the first decentralized one, and therefore, the first ideal money for modern times. That makes it a different beast entirely. |
Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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ndnh
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New Decentralized Nuclear Hobbit
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January 13, 2015, 05:27:47 AM |
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From this point of time it is $9. It cannot go lower than that. Unless something misplaces bitcoin, which is quite unlikely in current situations. If price hits say $25, you can expect people to buy in hordes of bitcoin for a chance to become a millionaire sometimes in the future. No chance, in this range you're seeing next to the last bit of panic sellers doing their thing and we're down to a very small % that is willing to sell at this point and the traders are realizing that. Buyers are holding the 244$ range after the drop and the potential final purge into the low 200s will trigger shitloads of buyers of all kinds scooping up last call on the cheap coins. Like, backing the fucking truck up and going all in like we've never seen. I just bought myself a nice lot and reserving the bulk of my available fiat if it sinks to or below the 220 mark. The rebound may surprise people. You are right. I am only saying the worst possible scenario. Whales are not stupid enough to push the price to $50 or 100 or lower. They will push it to a small price and cause panic sell, then they buy them back in huge lots and make people go crazy on Bitcoin,... and the cycle goes on. The price has almost fell to the low. It is time for the whales to reverse their move and make profits from panic sellers. Hopefully, someday, the price of Bitcoin will depend purely on adoption and be real and not so easily manipulatable. |
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Chef Ramsay
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January 13, 2015, 05:30:47 AM |
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I'm always curious as to why people without bitcoin have 'no choice' but to buy bitcoins from the few that own them. There are plenty of businesses that may want to use bitcoin, but from a customer's point of view the only really compelling reason to own bitcoins is to buy something that's illegal or restricted in their own country. It's a valid use that cannot be denied, but it's a relatively small one.
Right. As I've pointed out before, Bitcoin has had two major bubbles - Silk Road and China exchange controls. Both existed only because Bitcoin offered what seemed to be a safe way to do something illegal or restricted. Both collapsed once the relevant authorities figured out how to stop it. Without a new large use case like those, it's downhill from here. Nah, safe and smart money will take us to new heights, way above where the bottom feeders can take us. Had to erase my next comment wish is probably too premature and/or classless at this point. |
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exocytosis
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January 13, 2015, 05:43:26 AM |
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...It's more fun to hang out with like-minded people!
Heard mentality confirmed. I think you mean, "herd," as in "a large group of animals that live, feed, or migrate together," not "heard," as in "I heard what you were saying, and I disagree." But it's a serious question. Let's say that I don't like Bob Dylan, for instance. What would motivate me to join a forum of Bob Dylan fans and spend hours and hours telling everyone that Bob Dylan has a whiny, nasal voice, and that he sings off key? Clearly true, but still, why devote big sections of your life to seeking out disagreement? You're suggesting that choosing to hang out with like-minded people makes me a herd animal, but I'm wondering if devoting ones life to going to Yankees ball games just to tell the Yankees fans how terrible the Yankees are isn't a terrible waste of time and energy. My brother-in-law likes old cars, and he goes to "Cars and Coffee" every Saturday morning. Imagine that some person started showing up every week to tell everyone there that old cars are stupid and worthless. I would wonder if that person had some kind of mental illness that made him go out of his way to be so disagreeable! It's a valid question. But some of us just enjoy watching cultists and bulltards in action, since it's rather funny seeing them fail to lure newbies into this imploding pyramid scheme. It's also fun to read their predictions about their imminent world domination and the collapse of all fiat currencies. And it's great fun to hear about their other delusions, like the one about "bitcoin ending all wars", or "the blockchain used as an intergalactic ledger", or "bitcoin completely replacing every other payment system", etc. It's great entertainment. |
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MemoryShock
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January 13, 2015, 05:50:43 AM |
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I wonder how many of us are factoring in these guys... We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers," says Woo. "Assuming Bitcoin becomes (1) a major player in both e-commerce and money transfer and (2) a significant store of value with a reputation close to silver, our fair value analysis implies a maximum market capitalization of Bitcoin of $15bn (1BTC = 1300 USD)."
http://www.businessinsider.com/bitcoin-debate-ramping-up-on-wall-street-2013-12At the peak of BTC price, Citibank released their report and claimed the above bold. I think they were wrong but looking at it from their perspective, from the perspective of people from an industry who lobbies millions on political campaigns for legislation that benefits them in the financial spectrum, they took notice of BTC when it was making waves. If we consider that they already have a huge ton of money that is considered disposable to them and that adoption wasn't widespread enough for the population to take control of BTC then why are we not assuming that there is a huge amount of money from fiat interests manipulating the market? BTC has the backing of some notable merchants and financial players but the fact of the matter is that Citibank released a statement saying that 1300 was a fair price and it never went higher. I think that the amount of money that has gone into development in various aspects of crypto is relevant so I am not worried in the end but this should be considered relevant information. |
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Sakarias-Corporation
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January 13, 2015, 12:46:06 PM |
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lowest possible price of everything is always 0. but i would never in a hundred year believe it would go that low.
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twiifm
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January 13, 2015, 09:03:15 PM |
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I wonder how many of us are factoring in these guys... We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers," says Woo. "Assuming Bitcoin becomes (1) a major player in both e-commerce and money transfer and (2) a significant store of value with a reputation close to silver, our fair value analysis implies a maximum market capitalization of Bitcoin of $15bn (1BTC = 1300 USD)."
http://www.businessinsider.com/bitcoin-debate-ramping-up-on-wall-street-2013-12At the peak of BTC price, Citibank released their report and claimed the above bold. I think they were wrong but looking at it from their perspective, from the perspective of people from an industry who lobbies millions on political campaigns for legislation that benefits them in the financial spectrum, they took notice of BTC when it was making waves. If we consider that they already have a huge ton of money that is considered disposable to them and that adoption wasn't widespread enough for the population to take control of BTC then why are we not assuming that there is a huge amount of money from fiat interests manipulating the market? BTC has the backing of some notable merchants and financial players but the fact of the matter is that Citibank released a statement saying that 1300 was a fair price and it never went higher. I think that the amount of money that has gone into development in various aspects of crypto is relevant so I am not worried in the end but this should be considered relevant information. That guy probably got fired for making such a dumb analysis |
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scat
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April 29, 2015, 12:10:55 PM |
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is possible bitcoin gonna be priceless? as far as i know the lowest price for bitcoin is $1 , am i right?
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gentlemand
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April 29, 2015, 12:14:41 PM |
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is possible bitcoin gonna be priceless? as far as i know the lowest price for bitcoin is $1 , am i right?
The first established price was around 1300 coins for $1 through new liberty standard in 2009. They priced it purely due to the electricity cost required to mine them. http://newlibertystandard.wikifoundry.com/page/2009+Exchange+Rate |
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alani123
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April 29, 2015, 12:18:50 PM |
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is possible bitcoin gonna be priceless? as far as i know the lowest price for bitcoin is $1 , am i right?
The lowest price bitcoin had was 0$... It didn't have any value for quite some time. After people started gaining interest exchanges were created and trading was taken there. There wasn't any serious price indicator or volume for most of 2010. |
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ensurance982
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April 29, 2015, 12:58:08 PM |
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is possible bitcoin gonna be priceless? as far as i know the lowest price for bitcoin is $1 , am i right?
The lowest price bitcoin had was 0$... It didn't have any value for quite some time. After people started gaining interest exchanges were created and trading was taken there. There wasn't any serious price indicator or volume for most of 2010. Yeah I guess we're talking semantics here... As long as no one pays for something, of course it doesn't yet have a definite nominal value, sure. I believe we should - in this thread - merely discuss about what the first accepted price of BTC was when it traded at meaningful volume. |
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scat
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April 29, 2015, 01:01:32 PM |
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is possible bitcoin gonna be priceless? as far as i know the lowest price for bitcoin is $1 , am i right?
The first established price was around 1300 coins for $1 through new liberty standard in 2009. They priced it purely due to the electricity cost required to mine them. http://newlibertystandard.wikifoundry.com/page/2009+Exchange+Ratenice source , and how about the biggest bitcoin price drop so far? is possible bitcoin gonna be priceless? as far as i know the lowest price for bitcoin is $1 , am i right?
The lowest price bitcoin had was 0$... It didn't have any value for quite some time. After people started gaining interest exchanges were created and trading was taken there. There wasn't any serious price indicator or volume for most of 2010. i know everything is started from zero. |
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