$100 to $125 still possible? - page 2.

CoinCidental

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Si vis pacem, para bellum

Quote from: exocytosis on January 29, 2015, 08:23:59 AM

Quote from: SirChiko on January 29, 2015, 04:57:09 AM

Quote from: exocytosis on January 29, 2015, 03:45:03 AM

Quote from: g-unit on January 28, 2015, 03:28:47 PM

I'd be surprised if we hit below $150 again...too many people won't be able to resist such cheap coins.

You're looking at this the wrong way. $150 coins aren't cheap. They're ridiculously overvalued. The only thing Bitcoin's "good" for is buying illegal stuff on the deep web. The blockchain can handle a whopping 2.7 transactions per second, which makes Bitcoin completely useless as anything resembling a mainstream currency. After this Gox bubble/speculation phase, Bitcoin will go back to a reasonable and sustainable value which reflects its potential as a deep web currency for criminals. That value is somewhere in the double or single digits.

Bitcoin had its fifteen minutes of fame.

Oh yeah for sure and that's why winkles are investing into this and working on this, cuz it's already doomed. Makes no sense Wink

u probably already sold right?

Large investors put money in Enron too, shortly before it went bankrupt. It's not uncommon for rich people to make bad investments.

it would only fail if we let it fail and i wont ,and i know many others who will continue using it and supporting it
its not a company that can go bankrupt
thats one of the mains strengths of btc ,there is no greedy CEO to make bad decisions

HarmonLi

sr. member

Activity: 350

Merit: 250

Honest 80s business!

Well, it's still possible of course, but double digits are still some time coins away, you should always keep that in mind. Sure, there are a lot of bears that will be shorting the current market, but there's no guarantee they won't be wiped out just like the bulls were before!

exocytosis

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Activity: 476

Merit: 250

Quote from: SirChiko on January 29, 2015, 04:57:09 AM

Quote from: exocytosis on January 29, 2015, 03:45:03 AM

Quote from: g-unit on January 28, 2015, 03:28:47 PM

I'd be surprised if we hit below $150 again...too many people won't be able to resist such cheap coins.

You're looking at this the wrong way. $150 coins aren't cheap. They're ridiculously overvalued. The only thing Bitcoin's "good" for is buying illegal stuff on the deep web. The blockchain can handle a whopping 2.7 transactions per second, which makes Bitcoin completely useless as anything resembling a mainstream currency. After this Gox bubble/speculation phase, Bitcoin will go back to a reasonable and sustainable value which reflects its potential as a deep web currency for criminals. That value is somewhere in the double or single digits.

Bitcoin had its fifteen minutes of fame.

Oh yeah for sure and that's why winkles are investing into this and working on this, cuz it's already doomed. Makes no sense Wink

u probably already sold right?

Large investors put money in Enron too, shortly before it went bankrupt. It's not uncommon for rich people to make bad investments.

SirChiko

legendary

Activity: 966

Merit: 1000

Quote from: exocytosis on January 29, 2015, 03:45:03 AM

Quote from: g-unit on January 28, 2015, 03:28:47 PM

I'd be surprised if we hit below $150 again...too many people won't be able to resist such cheap coins.

You're looking at this the wrong way. $150 coins aren't cheap. They're ridiculously overvalued. The only thing Bitcoin's "good" for is buying illegal stuff on the deep web. The blockchain can handle a whopping 2.7 transactions per second, which makes Bitcoin completely useless as anything resembling a mainstream currency. After this Gox bubble/speculation phase, Bitcoin will go back to a reasonable and sustainable value which reflects its potential as a deep web currency for criminals. That value is somewhere in the double or single digits.

Bitcoin had its fifteen minutes of fame.

Oh yeah for sure and that's why winkles are investing into this and working on this, cuz it's already doomed. Makes no sense Wink

u probably already sold right?

fearlesscat10

hero member

Activity: 686

Merit: 500

Quote from: knight on January 29, 2015, 02:50:18 AM

Quote from: Mobius on January 29, 2015, 02:19:05 AM

I think $130-$140 is definitely possible. I don't see double digits but that last rally was a trap. We're going back down.

Possible? Always was. But now it becomes more and more probable.

The downtrend is still evident. I think we'll drop to a lower bottom than $150 before the next rally. Not so sure we'll reach double digits, but it's possible.

exocytosis

sr. member

Activity: 476

Merit: 250

Quote from: g-unit on January 28, 2015, 03:28:47 PM

I'd be surprised if we hit below $150 again...too many people won't be able to resist such cheap coins.

You're looking at this the wrong way. $150 coins aren't cheap. They're ridiculously overvalued. The only thing Bitcoin's "good" for is buying illegal stuff on the deep web. The blockchain can handle a whopping 2.7 transactions per second, which makes Bitcoin completely useless as anything resembling a mainstream currency. After this Gox bubble/speculation phase, Bitcoin will go back to a reasonable and sustainable value which reflects its potential as a deep web currency for criminals. That value is somewhere in the double or single digits.

Bitcoin had its fifteen minutes of fame.

CoinCidental

legendary

Activity: 1316

Merit: 1000

Si vis pacem, para bellum

i like to watch the top 1000 adddreses (the whales ):
http://bitcoinrichlist.com/top100?page=1

you will see there many of the richest bitcoiners have been adding to their holdings during the last few months of depression
i see this as them probably getting stronger and they will eventuially relieve a lot of small timers of their coins before
pushing it to a new ATH and keeping it up there $$$$ ,maybe even $$$$$

stability will come after volatility but only when the big boys decide its time ,now theyre just greedily adding to their collections
at this time when the market is easily manipulated by FUD

sandykho47

sr. member

Activity: 252

Merit: 251

Knowledge its everything

$100 is still possible, but for now it's impossible.
It will happen if there are big dump & panic sells Sad

And my prediction said we can see $300 again soon

avw1982

hero member

Activity: 644

Merit: 500

It's always possible. I think it will only happens when the're is again a big hack somewhere with a lot of stolen bitcoins. Normally it wont hit the $100-$125 i guess.

knight

newbie

Activity: 22

Merit: 0

Quote from: Mobius on January 29, 2015, 02:19:05 AM

I think $130-$140 is definitely possible. I don't see double digits but that last rally was a trap. We're going back down.

Possible? Always was. But now it becomes more and more probable.

Mobius

hero member

Activity: 988

Merit: 1000

I think $130-$140 is definitely possible. I don't see double digits but that last rally was a trap. We're going back down.

tss

hero member

Activity: 742

Merit: 500

it is possible..

i would like to see someone who knows more about the costs and math involved than myself to calculate using asic manufacturer costs to show how much mining actually costs a producers of asic equipment to produce a coin over a 6-12 month period..

that would be very interesting.

TankHankerous

jr. member

Activity: 55

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At least I'll own a neat relic of the bitcoin fad- Trezor

flipstyle

sr. member

Activity: 406

Merit: 250

Quote from: Fabrizio89 on January 29, 2015, 12:40:24 AM

Quote from: kwukduck on January 28, 2015, 02:57:12 PM

Buy pressure? LOL, look at the order books, the only thing happening with buy pressure is it's reducing by the minute.

With current economy you pretty much have a guarantee we'll see $100 rather sooner than later.

Did you look at the volume at $155? It was the highest we saw in a long time, every other drop encountered just shallow demands and even sells weren't that big because people weren't scared enough. We had huge sells and buys during the last "bottom". Whether that was the bottom remains to be seen, but I'm pretty positive we won't go lower than $180 when this correction waves are over.

I'll go out on a limb and say the same 'record market volume' when it hit the $150 low were the same ones flipping for an immediate %50-100 profit upon the coinbase news. Yet another mini pump and dump cycle for immediate profits.

The real opposition bitcoin has to face now is how many of the people in it are solely in for investment purposes and not a true faith in the technology?

Market psychology will be an uphill battle, because so many of the current holders will be willing to dump at the first sign of a dip and pump. Having to overcome the psychology of an already popped bubble market without having the holders continually dump for profits makes it hard for me to ever envision this stuff hitting 1k again, let alone 500 bucks.

Fabrizio89

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Activity: 924

Merit: 1000

Quote from: kwukduck on January 28, 2015, 02:57:12 PM

Buy pressure? LOL, look at the order books, the only thing happening with buy pressure is it's reducing by the minute.

With current economy you pretty much have a guarantee we'll see $100 rather sooner than later.

Did you look at the volume at $155? It was the highest we saw in a long time, every other drop encountered just shallow demands and even sells weren't that big because people weren't scared enough. We had huge sells and buys during the last "bottom". Whether that was the bottom remains to be seen, but I'm pretty positive we won't go lower than $180 when this correction waves are over.

traderCJ

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Activity: 280

Merit: 250

Quote from: ajw7989 on January 28, 2015, 11:27:38 PM

Quote from: traderCJ on January 28, 2015, 10:18:01 PM

Quote from: ajw7989 on January 28, 2015, 10:04:18 PM

If it drops and stabilizes around $100-$150 the bitcoin economy is going to collapse. It might as well drop to $50 or less at that point. Most mining can not function at that price. We got a taste of this when a lot of cloud companies were shutting down when it hit $175 including most of bitmains miners. With CEX out of the picture difficulty will not shoot up for a while but bitcoin must stay above $200 unless the difficulty starts drops 10%+

Seems to me that the system will just re-establish equilibrium at a sustainable (lower) difficulty.

That is true but keep in mind that if difficulty is going to drop drastically (20-25%) it will take a very long time since block generation will be extremely slow due to diffculty and hash rate out there. It could essentially lead to a 2 week time for a change in difficulty which could do a lot of harm. Kind of like a domino effect. Difficulty drop is only beneficial when its in smaller amounts 5-10% mainly

Interesting. What is the rationale for difficulty adjustments taking so long?

dropt

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Quote from: ajw7989 on January 28, 2015, 11:27:38 PM

That is true but keep in mind that if difficulty is going to drop drastically (20-25%) it will take a very long time since block generation will be extremely slow due to diffculty and hash rate out there. It could essentially lead to a 2 week time for a change in difficulty which could do a lot of harm. Kind of like a domino effect. Difficulty drop is only beneficial when its in smaller amounts 5-10% mainly

At perfect equilibrium the difficulty change is supposed to happen every two weeks.

In my opinion the mining difficulty is a non-issue. The network survived the drop from $32 -> $2, it also survived the first halving which is effectively the same as an instantaneous drop in earnings by 50%

ajw7989

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Activity: 924

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Quote from: traderCJ on January 28, 2015, 10:18:01 PM

Quote from: ajw7989 on January 28, 2015, 10:04:18 PM

If it drops and stabilizes around $100-$150 the bitcoin economy is going to collapse. It might as well drop to $50 or less at that point. Most mining can not function at that price. We got a taste of this when a lot of cloud companies were shutting down when it hit $175 including most of bitmains miners. With CEX out of the picture difficulty will not shoot up for a while but bitcoin must stay above $200 unless the difficulty starts drops 10%+

Seems to me that the system will just re-establish equilibrium at a sustainable (lower) difficulty.

That is true but keep in mind that if difficulty is going to drop drastically (20-25%) it will take a very long time since block generation will be extremely slow due to diffculty and hash rate out there. It could essentially lead to a 2 week time for a change in difficulty which could do a lot of harm. Kind of like a domino effect. Difficulty drop is only beneficial when its in smaller amounts 5-10% mainly

traderCJ

sr. member

Activity: 280

Merit: 250

Quote from: ajw7989 on January 28, 2015, 10:04:18 PM

If it drops and stabilizes around $100-$150 the bitcoin economy is going to collapse. It might as well drop to $50 or less at that point. Most mining can not function at that price. We got a taste of this when a lot of cloud companies were shutting down when it hit $175 including most of bitmains miners. With CEX out of the picture difficulty will not shoot up for a while but bitcoin must stay above $200 unless the difficulty starts drops 10%+

Seems to me that the system will just re-establish equilibrium at a sustainable (lower) difficulty.

ajw7989

legendary

Activity: 924

Merit: 1000

If it drops and stabilizes around $100-$150 the bitcoin economy is going to collapse. It might as well drop to $50 or less at that point. Most mining can not function at that price. We got a taste of this when a lot of cloud companies were shutting down when it hit $175 including most of bitmains miners. With CEX out of the picture difficulty will not shoot up for a while but bitcoin must stay above $200 unless the difficulty starts drops 10%+

Topic: $100 to $125 still possible? - page 2. (Read 4782 times)