I need bitcoin to be $690 to break even.....will I make it?

[dollarneed]

$690 it was easy for china, as we know that china has control of the price of bitcoin,by the way iam gonna sell my bitcoin to if come to $280 - $300 iam waiting for it

[GreenStox]

$690 it was easy for china, as we know that china has control of the price of bitcoin,by the way iam gonna sell my bitcoin to if come to $280 - $300 iam waiting for it

Why? C`mon bitcoin is not a pump and dump. It's a currency of the future, which offers alot of possibilities.

[LottoBooking]

$690 it was easy for china, as we know that china has control of the price of bitcoin,by the way iam gonna sell my bitcoin to if come to $280 - $300 iam waiting for it

Why? C`mon bitcoin is not a pump and dump. It's a currency of the future, which offers alot of possibilities.

If it was the currency of the future it wouldn't have slumpped massively from $800 to $200.

[Searing]

$690 it was easy for china, as we know that china has control of the price of bitcoin,by the way iam gonna sell my bitcoin to if come to $280 - $300 iam waiting for it

Why? C`mon bitcoin is not a pump and dump. It's a currency of the future, which offers alot of possibilities.

If it was the currency of the future it wouldn't have slumpped massively from $800 to $200.

when I got into mining oct 18th BTC was $150 usd ..then imho the china bubble ( a lot of Chinese trying to get 40 years of wealth out of china they could not do previous
in the form of BTC asap) and the authoritarian crackdown in 2014 from China and other countries on crypto and BTC and the bubble pop'd with the above and also
speculation was involved ...add mt. gox and other scandals and it is kind surprising it limped into 2015 to tell you the truth...

now it is 250 for btc more or less

if next year it goes say 350 etc that works for me too ...but BTC also will work as protocol for moving wealth world wide from 'not so enlightened' countries due to greed
war corruption etc to safe havens without banks/gov't involvement....that will come first...then as a method beyond this protocol the coin price will be based on how useful this network is for doing such..that perceived use will determine coin price for the next 5 years imho with hopefully adoption ticking up ..but adoption will tick up on the hopefully working
protocol and hopefully good press on the above working as I state (knock wood)

folk adopting something that they see in press and elsewhere as having a legit and unique use and the fact it is open source etc would go a long way to easing any fears
on price..the old saw "now I get it" then to 'lets also buy some btc' ah ha moment (i hope)

anyway badly explained but how i see it ..kinda sorta in a rough kinda way..

[LottoBooking]

but BTC also will work as protocol for moving wealth world wide from 'not so enlightened' countries due to greed
war corruption etc to safe havens without banks/gov't involvement....that will come first...

No doubt that's one of the biggest advantages of BTC but the problem is that many people would avoid using it if they know they can lose the value of what they're transferring by 10% or more in a matter of minutes or even seconds. Personally I wouldn't keep my life savings in BTC, it's just too risky (not only financially but also in terms of regulation, account can get hacked etc.)

[arallmuus]

the problem is that many people would avoid using it if they know they can lose the value of what they're transferring by 10% or more in a matter of minutes or even seconds.

This is not a big issue if you are a business owner that accepts BTC because you can always use some sort payment processor to convert the price into BTC equivalent with the current rate. However if you are merely pointing this in the point of view of a customer than it is a risk that someone should take if they are using BTC as payment method.

On the other hand, if you are dealing with larger amount of transactions then there is an advantages of using BTC which is that you will pay less fee for the transaction which is a good deal and of course no question asked even if you are dealing hundreds thousand of dollars overnight unlike FIAT transaction in a bank

Personally I wouldn't keep my life savings in BTC it's just too risky (not only financially but also in terms of regulation, account can get hacked etc.)

With the current volatility, it is pretty bad decision of course to relly on BTC as a life savings but if you are a fan of security then it is pretty much safer to relly on BTC rather than traditional banking system if you know how to secure them properly .
Not only that BTC is vulnureable to a hacking but a banking system could be hacked as well, it is a delusion to think that your life saving is save at a bank account because both is hackable but BTC is much better in term of security

[GreenStox]

Ah forget about bitcoin, buy altcoins.

With bitcoin you need to wait like 2-3 years to reach 690$, with altcoins you only need to wait 2-3 days.

Some altcoins give 600% returns in like 30 minutes.

[gentlemand]

Ah forget about bitcoin, buy altcoins.

With bitcoin you need to wait like 2-3 years to reach 690$, with altcoins you only need to wait 2-3 days.

Some altcoins give 600% returns in like 30 minutes.

You'd better choose yourself a coin with some proper market depth or your 600% gain will instantly turn into a 60% loss when you cash out a heady 0.1 BTC.

Alts can hit the spot but they're pure guesswork at the mercy of some totally merciless traders. I'd never bother with anything other than pin money again.

[Gimmelfarb]

If you're still valuing your bitcoins based on an exchange rate, you're doing it wrong.

i know this is an old post, but.... how else would we value them? i mean, i value them also based on future potential value, but that is in relation to the exchange rate. because the important thing IMO is, of course, purchasing power.

[arallmuus]

i value them also based on future potential value, but that is in relation to the exchange rate.

Your statement is quite contradicting each another ( the first and the second ). Basically if you are base-ing it on future potential value then you do not need to worry about the current exchange rate. With that being said, this is what most bag holder sees, they left out the current exchange rate and keep on holding because they do believe that BTC has a potential to go until 4 figures at least ( in term of price not value ). You are not doing it right because you are focusing yourself on the current exchange rate if you really value them by their future potential value

Also that you should note that there is a different between "value" and "price" . BTC with no doubt got some potential value in the future but that doesnt mean that this value will go along with its price

because the important thing IMO is, of course, purchasing power.

Standard things of economy, supply and demands. Which means that according to this theoretically , the price will increase in the future because the supply is fixed on 21M supply but only if there is a demands on it which means that mass adoptions is indeed needed for this. This is according to theory which alot of bagholder hold their principle on which is also the reason why they keep on holding and waiting despite that they could get some profit from a small rally or rebound

[odolvlobo]

There are two values: the market price, which is the amount you'll get right now, and the present value, which is an expected future market price with a discount rate applied.

I suppose that when people say that price and value are different, they assume that "price" means the market price, and "value" means present value.

Note that (assuming an efficient market) there is only one market price, but there is an infinite number of present values because each person can expect different future market prices and different discount rates.

[ifightformerkel]

Will I make it?

Any timeline?

5 years would be ideal... after that I might give up

If you're still valuing your bitcoins based on an exchange rate, you're doing it wrong.

How else would I measure its purchasing power? If I don't value it by its purchasing power how else should it be valued??

Are you serious? In 5 years the price will jump over 100 times higher then now.
But i knew it that you will sell your bitcoins at around 2000 Dollar and then repent it when it will be over 50.000 Dollar,
when you ask such questions like will be bitcoin break 690 Dollar.

[damiano]

Will I make it?

Any timeline?

5 years would be ideal... after that I might give up

If you're still valuing your bitcoins based on an exchange rate, you're doing it wrong.

How else would I measure its purchasing power? If I don't value it by its purchasing power how else should it be valued??

Are you serious? In 5 years the price will jump over 100 times higher then now.
But i knew it that you will sell your bitcoins at around 2000 Dollar and then repent it when it will be over 50.000 Dollar,
when you ask such questions like will be bitcoin break 690 Dollar.

Have to ask are you serious? You honestly think bitcoin will 100 times higher than it is now  So from $24,200, 100 times now to a sentence later you think it will go to $50,000 righto.

OP Pretty sure you would have reduced your average down by now from $690? Even if you have not I hold faith in the end you will be able to make a profit or at least get most of your investment back.

There are people in worse situations buying in $700+  all will be ok.

[arallmuus]

There are two values: the market price, which is the amount you'll get right now, and the present value, which is an expected future market price with a discount rate applied.

Right on the nail except for the discount rate so corrected them abit. Most people are focusing on the current market price while some other are focusing on the value of it which is why some people hold stash of BTC without even care about the current rate because they believe that someday their stash will have a value.
While on the other hand , there are peoples that are focusing on the daily rate and profitted themselves from each small rally and stuff. The "current price" has become a some standards for most people that are accustom to this

Also that the words value has a alot of meanings not only in term of the prices . Security is a valuable things to consider as well and with BTC you can provide yourself with a top notch security without having to relly on a traditional bank anymore. This is considered as value as well (well atleast for me)

[GreenStox]

Ah forget about bitcoin, buy altcoins.

With bitcoin you need to wait like 2-3 years to reach 690$, with altcoins you only need to wait 2-3 days.

Some altcoins give 600% returns in like 30 minutes.

You'd better choose yourself a coin with some proper market depth or your 600% gain will instantly turn into a 60% loss when you cash out a heady 0.1 BTC.

Alts can hit the spot but they're pure guesswork at the mercy of some totally merciless traders. I'd never bother with anything other than pin money again.

The swiss frank also had a merciless swing this january, is that a crappy currency with no market depth. It seems so.

This is the problem with speculation, no market is safer than others, so the only parameter left is % return, and i`d rather chose 600% gain in 1 day then 0.001% gain in 1 month

[arallmuus]

This is the problem with speculation, no market is safer than others

Indeed there is none, unless you know what you are doing exactly and not speculating on it

then 0.001% gain in 1 month

As always, it seems that you posting something without some facts again. Seriously stop getting into delusion that there is only 0.001 % in a month. How about checking on some facts before posting? Feel free to check this https://bitcoinwisdom.com/. It is 3.55 % in a month which is quite a decent amount considering that if someone is not really active in trading. The 3.55 % could actually be higher if you sell it on the right count because price has declined since the last rally .

Much better is that if you know how to take position and profitted yourself from each small rally or some rebounds. Basically this is what holder left out because it is too much trouble for them . Instead of limiting themselves with a stop loss. Most people keep on holding and when the price crashed all they still do is holding it and hope that the price could get better


On another count, the 600 % gain in altcoin that you stated is merely a delusion as well because it is not everyday that you could get it. Also that it is off topic to discuss about altcoin in this thread

[GreenStox]

This is the problem with speculation, no market is safer than others

Indeed there is none, unless you know what you are doing exactly and not speculating on it

then 0.001% gain in 1 month

As always, it seems that you posting something without some facts again. Seriously stop getting into delusion that there is only 0.001 % in a month. How about checking on some facts before posting? Feel free to check this https://bitcoinwisdom.com/. It is 3.55 % in a month which is quite a decent amount considering that if someone is not really active in trading. The 3.55 % could actually be higher if you sell it on the right count because price has declined since the last rally .

Much better is that if you know how to take position and profitted yourself from each small rally or some rebounds. Basically this is what holder left out because it is too much trouble for them . Instead of limiting themselves with a stop loss. Most people keep on holding and when the price crashed all they still do is holding it and hope that the price could get better


On another count, the 600 % gain in altcoin that you stated is merely a delusion as well because it is not everyday that you could get it. Also that it is off topic to discuss about altcoin in this thread

I was actually talking about forex markets not bitcoin. Yea on forex look for 20% earnings / year, so thats about 0.0000000001% / month (sarcastically).

However in Bitcoin, you can already see threads where you can invest and earn 200% returns in 1 hour. So its obvious which currency i would use

[dblink]

How else would I measure its purchasing power? If I don't value it by its purchasing power how else should it be valued??

I guess that is what exactly he meant, perhaps he meant that to see the bitcoin as an another more aspect such as programmable currency or replacement for fiat currencies and not limited to only for purchasing or exchanging values, this is my view of his comments.

[WhatTheGox]

If you look at the price of litecoin rise recently its quite amazing how it was around 1.20 to 1.40 and then all of a sudden it can sustain a rise to $3 and stay there.  Crypto can move up and sustain prices fast is the lesson.  You ill see those prices again OP dont worry

[Searing]

On a side note of all the bitcoin threads I hope the OP's Bitcoin to be $690 named thread TITLE ... here is sooooooo on the mark!

Just saying ....every time I see the thread title my little heart goes 'pitter pat'