Topic: An insider's opinion on the crazy Bitcoin market - page 2. (Read 5702 times)

Speaking of places you can spend it, rent seems like a fairly big deal. Rent in NYC seems like a HUGE deal...closely following AE Property Management in Memphis's announcement last week, an NYC company is now accepting Bitcoin: http://www.prweb.com/releases/2013/4/prweb10608334.htm

If things like this keep popping up, I won't be worried about the price going to 0, ever.

Ironically, I would say the opposite. Don't keep more money in fiat than you can afford to lose.
A week ago I lost the significant part of my wealth on European bank account after Cyprus thing. But my bitcoins are still safe and gained in value thirty-fold.

Don't ever hold more money in Bitcoin than you can afford to lose, and in general you should assume the whole thing will go to zero.

or they need to withdraw

doesnt say shit this queue #

Price will collapse but not now and not when 15.000 new user are waiting by Mt Gox for verification.
They all need bitcoins and are eager to buy some coins regardless of how much will be the market price which will be pushed by them higher and higher.

I don't say bitcoin will collapse, no. Price will.

entire post

Hehe... Insiders... They invented a currency which root is in absence of middleman and building economy on two central points of failure.

People still put Bitcoins in "bank"(hello instawallet), they still use intermediates like Bitpay to launder money for BFL process transactions "without risk". They still have ability to lend coins for short (play against own market).

Hey, Insiders! What actually did you change in this crazy world except making nasdaq-99 2.0?

DVC a good investment.

Currently the value of the coins is quite high, we can see that even the TRC (who is dead) 0.0056 BTC sale and all other currencies are as follows:

PPC: 0.00267 BTC
LTC: 0.02479 BTC
NMC: 0.00661 BTC
NVC: 0.02022 BTC
DVC: 0.00000199 BTC

Even as that NMC and TRC are dead market currencies and LTC and PPC are very new and overvalued currencies.

The current value of DVC is: 0.00000199
Let's be pessimistic and assume that value can reach 1/10 of the current value of the PPC or 1/20 of the TRC, that would leave the DVC in 0002, an increase of 1,000 times its value!

We can be very pessimistic and say that only go up to 100 times its value 0.0002 still a HUGE PROFIT MARGIN.

Do not know about you, but I'm going to get 1 BTC to DVC and leave the account frozen several months or a year, I am sure that in the worst case I will take 50 or 60 times my investment, and at best Where I can take over 100 even up to 1000.

Why do I assert this? Because we have seen how the currencies to be included in major markets disproportionately increase their value, as happened with LTC, TRC and PPC to be put in BTC-E, and MTGOX LTC plans to put on their market, which would make their price increased a lot and people tipping smaller coin (As happened to BTC), we get those coins smaller TRC and NMC have not already tested structure and be super unstable (TRC for several days does not process a single block ).

At MTGOX put LTC, and maybe PPC, BTC-E will be forced to put between their quotes DVC, which currently shoot its price is just ridiculous.

This is common mistake. They accept Bitpay - not Bitcoin. You claim you are insider, so you should know difference. Big difference.

Those who accept REAL Bitcoin now suffer from such volatility and get paralyzed.

You should add here that this 2-billion bubble only stays on two interconnected amateur companies - mtgox and bitpay. Bring down any - and everything will collapse.

1) A handful of "respectable" online merchants are now accepting Bitcoin, this proves that real businesses see the value in it. It's likely that others will follow.

That's probably the most level headed and objective piece of advice I have ever read on Bitcoin.
What you said was true two years ago, is true now, and will remain true a few years from now.
That would make great material for Bitcoin primers