Where will Bitcoin be on 9/4/2018?

Quote: Evenbob

I called this from the gitgo, it had Ponzi written
all over it. Buy in early, get out before it collapses..

I mostly agree with you about Bitcoin but I wouldn't call it a Ponzi scheme. Bitcoin is a tulip, a Beanie Baby, something people buying into knew could pop any time. At least I would hope they could figure that out. A Ponzi scheme is more deceptive. It's dressed up like a legitimate investment but new money just goes to people who got in earlier and to enrich whoever is running the thing. Ponzi schemes are illegal and those who run them deserve to die in jail. Bitcoin was at least transparent. Everyone who bought in knew they were gambling. I feel no sympathy to anyone who lost money on it. Ponzi victims I do have sympathy for.

Quote: Wizard

Bitcoin was at least transparent. I feel no sympathy to anyone who lost money on it.

It was a transparent Ponzi. Amway is a Ponzi.
When people on the ground floor make
money on the people who invest later, that's
a Ponzi.

Pon·zi scheme
ˈpänzē ˌskēm/Submit
noun
a form of fraud in which belief in the success of an enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

Quote: Evenbob

It was a transparent Ponzi. Amway is a Ponzi.
When people on the ground floor make
money on the people who invest later, that's
a Ponzi.

Pon·zi scheme
ˈpänzē ˌskēm/Submit
noun
a form of fraud in which belief in the success of an enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

No. Amway is a pyramid scheme, not a Ponzi scheme.

12:30am and BC is at $6000 even, and dropping
like a stone.

3am and $5900

Quote: Evenbob

3am and $5900

I'm not sure which website you are looking at but I had 3am and $6050.
At any rate it is back up to $8500

"Who steals my purse steals trash. 'Tis something, nothing: 'Twas mine, 'tis his, and has been slave to thousands."- Iago

Quote: Pacomartin

I'm not sure which website you are looking at but I had 3am and $6050.
At any rate it is back up to $8500

It was 5900 a couple days ago. What's
happening is, it drops way down like
it did to 10K, then goes back to 12k
for a period, Then it drops down to
6k and goes back the the 8000's for
awhile, where it is now. They say
it's being wildly propped up by the
big investors, who want one more run
so they can cash out at a big profit.

Quote: Evenbob

They say it's being wildly propped up by the big investors, who want one more run so they can cash out at a big profit.

I think that is true of any market.

Ethereum does not seem to be making any real gains on Bitcoin. They seem to be moving up and down together

Bitcoin $138.6 billion $8,224.70 / BTC
Ethereum $78.7 billion $807.01 / ETH

Four crypto currencies correspond to 70% of the entire market of 1510 coins
1) Bitcoin
2) Ethereum
3) Ripple
4) Bitcoin Cash

BC reminds me of penny stocks. They go
up and down constantly with people
pumping and dumping for short term
profits. Right now they're pumping to
keep it around 8000, to restore confidence.
People will buy and it will go to 10K, and
they'll dump again, making it fall to 5000.
They'll keep doing this till interest in the
whole thing is exhausted.

When the European Exchange Rate Mechanism (ERM) was set up in 1979, the United Kingdom declined to join. Although the UK had not joined the ERM, from early 1987 to March 1988 the Treasury followed a semi-official policy of 'shadowing' the Deutsche Mark. On 8 October 1990, Thatcher entered the pound into the ERM mechanism at DM 2.95 to the pound. Hence, if the exchange rate ever neared the bottom of its permitted range, DM 2.773, the government would be obliged to intervene. With UK inflation at three times the rate of Germany's, interest rates at 15%, it could be argued that the conditions for joining the ERM were not favorable at that time.

Black Wednesday occurred in the United Kingdom on 16 September 1992, when John Major's Conservative government was forced to withdraw the pound sterling from the European Exchange Rate Mechanism (ERM) after it was unable to keep the pound above its agreed lower limit in the ERM. In 1997, the UK Treasury estimated the cost of Black Wednesday at £3.4 billion. George Soros made over £1 billion in profit by short selling sterling though he avoided an insider trading scandal.