Where will Bitcoin be on 9/4/2018?
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9 members have voted
December 15th, 2017 at 10:22:43 PM permalink | |
Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25010 |
The TwinkieVolks Bros laugh when people talk about BC busting. Don't you trust them? Just because they let Zuckerburg steal FB from them doesn't mean they're total idiots. They explain that the value of something, gold, for instance, has value because we all agree it does. If we all agree BC has value, they said, then it can be worth more than gold. I take it back, they may be idiots after all. If you take a risk, you may lose. If you never take a risk, you will always lose. |
December 15th, 2017 at 11:02:19 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 | There is no disputing that basic statement of human nature, but it is still essentially meaningless because people can change their mind very quickly. Of course there is a lot of history of people thinking gold was valuable. It wasn't that long ago in history that people didn't believe that paper money had value.
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December 15th, 2017 at 11:43:37 PM permalink | |
Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25010 |
Twinkledicks are hucksters, new money is something that doesn't catch on easily. They want to cash in before it tanks. Wait and see. If you take a risk, you may lose. If you never take a risk, you will always lose. |
December 16th, 2017 at 12:00:34 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
Isn't that the goal of every investor? I wonder if China has developed ways around the electrical usage plaguing Bitcoin, not to mention the long delays? It is not certain if Sweden will beat China. Some people feel that this tiny country of 10 million people is doing fine with commercial bank money and phone apps along with less than $600 per capita in banknotes and coins. They may not have much of an underground economy as prositution and most drug use is legal, but presumably it is primarily conducted with EURO banknotes.
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December 16th, 2017 at 12:21:59 PM permalink | |
OnceDear Member since: Nov 21, 2017 Threads: 11 Posts: 1504 |
Not for one second! I KNOW that at some future date, BC will crash. I see that as inevitable. Those BC billionaires are insane to not cash out a good chunk of their wealth. With the utility of money, what is the point in them holding indefinitely. They are fantastically rich now, by most standards. To never sell in the face of near certain oblivion is to risk being the biggest luzers of all time, and for what. I don't see my position as similar to trying to assess when a slot will hit. More like standing and using a defective ATM which is dishing out £5 bills at short interval, but with the display showing a message that the police have been called and I'll be dragged away and all my ill gotten gains confiscated soon, at any time. I'm enjoying a roller coaster ride, which is going upwards at the moment. All roller coasters end up at a low point. I have no problem with that. Don't know if / when / to what extent I'll liquidate profits. I don't fear the fact that the price is rising almost vertically on its exponential path. The chart always looked the same when re-scaled. If I were to stick a pin in the map, I'd say we will not see any serious down trend til $25k Total hunch though, based on gut assessment of media coverage. |
December 16th, 2017 at 2:30:40 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
Here is a chart of number of daily transactions over the last two years. It varies from 200K to a peak of nearly 600K but is currently 355,652 in the last day. https://blockchain.info/charts/n-transactions?timespan=2years Cost per Transaction (USD) $139.28 up from about $7 at beginning of the year. When the panic comes these stats will run off the board as millions of transactions are happening. I spent .4038 BTC ~$258.71 for a computer on Jun 30, 2014. It would be worth about $8000 today. DUMB DUMB Banknotes and coin in circulation (12/31/2016) Country Billions of Dollars United States $1,509 Euro area $1,218 Japan $916 BITCOIN $326 (Market Cap as of December 15, 2017) India $196 Russia $145 China ~ $1,000 but they don't report |
December 16th, 2017 at 2:32:43 PM permalink | |
OnceDear Member since: Nov 21, 2017 Threads: 11 Posts: 1504 | 20:20 hindsight. a wonderful but wicked gift. |
December 16th, 2017 at 2:39:59 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
It was around $100 in August 2013, over $1000 in early 2014 and dropped to $400. I sold it at $600 and bought one of those flat computers which I thought was cool. |
December 16th, 2017 at 2:50:06 PM permalink | |
Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25010 |
No, it wasn't dumb. Any currency that nobody spends, like BC, will always increase in value. So what. As soon as they start spending it, down it will go. This can't last forever, greed will get them in the end. They'll hang on and lose their shirts. In the collectibles biz, if there's 75 of something and all 75 are in collections, the value for one is huge. If 30 of them come on the market at one time, the value goes off a cliff. That's all BC is, a collectible. If you take a risk, you may lose. If you never take a risk, you will always lose. |
December 17th, 2017 at 10:02:45 PM permalink | |
Aussie Member since: May 10, 2016 Threads: 2 Posts: 458 |
This is true. When it last dipped 20% a couple of weeks ago my wife urged me to buy. I said I wanted to wait to see if it dipped further. We ended up buying the next morning when it had recovered half of the losses. When she admonished me for not listening to her I reminded her that if she had have listened to me when I first suggested buying in September we would have paid for the entire cost of next year’s 4 week European holiday with change left over. She doesn’t mention it any more. |