Bitcoin to the moon? | Bitcointalksearch.org

Pecunia non olet

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Quote from: Lexi Price on January 29, 2015, 01:16:39 AM

Q1 - so have we found the bottom yet or is that still up in the air?

Q2 - might be a dumb question but please keep in mind I'm not a trader* so I don't quite understand most of this, but is there anything bitcoin users or "the community" per se can do to prevent or insulate the market from "pump and dumps"? It makes me think the market will always be at the mercy of traders so this can go on indefinitely keeping things volatile.

Q3 - is there somewhere I can go to learn how to understand all these charts like at bitcointicker.co/bitcoin tracker? I have this one bookmarked and check it daily just to see what the price is but the chart itself I have no clue.

Thanks!

A1: bottom is calculated with costs of the network vs new money coming in. You calculate price of btc times bitcoins found by mining to get the cost. Once these costs are smaller or equal to the new money coming in (substracted the money going out) we will have found a bottom. I think bottom will be double digits based on my calculations.

A2: nothing can be done about Pump and dumps other than you don't buy into it and sell into it instead. (counterintuitive trading, makes money too)
Volatility is only in parts caused by the traders but in large parts also by the miners. So Bitcoin is inherently volatile due to the high inflationrate.

tss

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Quote from: dakota neat on January 28, 2015, 02:19:55 PM

Quote from: tss on January 28, 2015, 02:16:09 PM

haha no. regardless of how much good news we get. the cost to mine btc regulates the price they sell for. at the moment hardware manufacturers are at an advantage and thus have a say in what btc price is. and believe me they are making a killing. if i can profit on mining currently then they can profit selling at even half of todays price.

Yeah, sure. That's the reason why the difficulty is going down.

mining equipment manufacturers are not turning anything off. actually their pool hashrates are growing. the retail buyers are the ones shutting down as they barely make anything to make it worth their time and efforts.

kwukduck

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A1 - Who knows, the economy right now is very speculative.

A2 - Any moves in the market from whales can create massive swings either up or down. The only thing that can prevent this is if the ratio speculators/users changes in the favor of actual users in great numbers. The moves by the whales will be absorbed by a market much more easily if it's a big one.

A3 - There are many guides online on how to read these charts and indicators. It's important to realize these are either purely mechanical, statistical or psychological. Whatever indicators you use, it is still speculation and there is a risk it will go in the other way you expected it to go based on your analysis. (Don't speculate with money you can't afford to lose)

If you just like bitcoin for it's function as a currency, use it as such, get bitcoin when you plan to use it relatively quickly, and don't hold onto it as speculative asset.

Lexi Price

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Live Free Or Die

Q1 - so have we found the bottom yet or is that still up in the air?

Q2 - might be a dumb question but please keep in mind I'm not a trader* so I don't quite understand most of this, but is there anything bitcoin users or "the community" per se can do to prevent or insulate the market from "pump and dumps"? It makes me think the market will always be at the mercy of traders so this can go on indefinitely keeping things volatile.

Q3 - is there somewhere I can go to learn how to understand all these charts like at bitcointicker.co/bitcoin tracker? I have this one bookmarked and check it daily just to see what the price is but the chart itself I have no clue.

Thanks!

rosh

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The effect of coinbase already seems to have worn off. Grin

dakota neat

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Quote from: tss on January 28, 2015, 02:16:09 PM

haha no. regardless of how much good news we get. the cost to mine btc regulates the price they sell for. at the moment hardware manufacturers are at an advantage and thus have a say in what btc price is. and believe me they are making a killing. if i can profit on mining currently then they can profit selling at even half of todays price.

Yeah, sure. That's the reason why the difficulty is going down.

kwukduck

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coinbase is going to drag us to 1k per 10btc yes...

tss

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haha no. regardless of how much good news we get. the cost to mine btc regulates the price they sell for. at the moment hardware manufacturers are at an advantage and thus have a say in what btc price is. and believe me they are making a killing. if i can profit on mining currently then they can profit selling at even half of todays price.

MadGhost

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Why are we always want BTC to the moon ? Slow and stable growth is better and sustainable rather than few days pump and crash.

Aemon

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Well, I meant 0 in the rounding way. If its .005 cents. I consider that 0 dollars. After a year of consistently going down I don't know if we will see it go back up again. I am truly hoping I am wrong I just am not 100% sure of what will happen.

NotLambchop

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Quote from: ensurance982 on January 28, 2015, 12:07:04 PM

... makes me quite calm what the threat of this happening is concerned.

To be clear: Bitcoin is unlikely to ever reach zero. As long as there's one guy with a netbook running a couple of nodes, it'll have *some* value.
I've also been hearing much prognostication re. price: $10k by last Christmas was pretty common, one (certified & institutionalized, recently released) lunatic even promised $300k.
Sadly, those numbers were reached as often as $0 Undecided

Madness

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Quote from: rememberme on January 26, 2015, 03:40:42 AM

is coinbase going to make us reach 1k this week?

No it won't and nothing will for the moment . Bitcoin will eventually go to the moon but not anytime soon if you ask me .
It will inscrease the price slowly slowly till it reach the next Halving block reward then it will riiiiiiiise like hell Grin

Less supply + demand = more value

ensurance982

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Trust me!

Quote from: Aemon on January 28, 2015, 12:01:52 PM

Quote from: ensurance982 on January 28, 2015, 11:59:45 AM

Quote from: NotLambchop on January 28, 2015, 11:55:53 AM

Quote from: ensurance982 on January 28, 2015, 11:50:44 AM

I think we'll go up this time...

-But Bullwinkle, that trick NEVER works! Angry

-This time, FOR SURE!

It's nothing but a game of recognizing the real bottom, really. It could be any of the large dips, actually. And I am putting my money (figuratively and literally) on this dip being the one. Sure, I may be wrong and advise everyone to make their own decisions, but you can't win if you don't take a risk.

What if the real bottom is 0? That is where it looks like it is heading more and more each day.

Well, in that case sell all your coins and go on with your life. The mere fact that people have been saying this a couple of times over the last 5 years - and were wrong each and every time - makes me quite calm what the threat of this happening is concerned.

NotLambchop

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Quote from: ensurance982 on January 28, 2015, 11:59:45 AM

...you can't win if you don't take a risk.

Isn't that from a Lotto ad?

Aemon

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Quote from: ensurance982 on January 28, 2015, 11:59:45 AM

Quote from: NotLambchop on January 28, 2015, 11:55:53 AM

Quote from: ensurance982 on January 28, 2015, 11:50:44 AM

I think we'll go up this time...

-But Bullwinkle, that trick NEVER works! Angry

-This time, FOR SURE!

It's nothing but a game of recognizing the real bottom, really. It could be any of the large dips, actually. And I am putting my money (figuratively and literally) on this dip being the one. Sure, I may be wrong and advise everyone to make their own decisions, but you can't win if you don't take a risk.

What if the real bottom is 0? That is where it looks like it is heading more and more each day.

ensurance982

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Trust me!

Quote from: NotLambchop on January 28, 2015, 11:55:53 AM

Quote from: ensurance982 on January 28, 2015, 11:50:44 AM

I think we'll go up this time...

-But Bullwinkle, that trick NEVER works! Angry

-This time, FOR SURE!

It's nothing but a game of recognizing the real bottom, really. It could be any of the large dips, actually. And I am putting my money (figuratively and literally) on this dip being the one. Sure, I may be wrong and advise everyone to make their own decisions, but you can't win if you don't take a risk.

NotLambchop

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Quote from: ensurance982 on January 28, 2015, 11:50:44 AM

I think we'll go up this time...

-But Bullwinkle, that trick NEVER works! Angry

-This time, FOR SURE!

ensurance982

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Activity: 518

Merit: 500

Trust me!

I think we'll go up this time. We could dip a bit lower, but the dumps over the last day experienced some counter-pressure, as well. Bears try their best to short now, but it seems their best isn't enough anymore

sethminer14

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I remain bullish as well. It will get back up sooner or later. I'm not completely sure about 1k but If it does, that's fine with me.

HarmonLi

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Honest 80s business!

Quote from: ajareselde on January 28, 2015, 10:36:36 AM

Quote from: rememberme on January 26, 2015, 03:40:42 AM

is coinbase going to make us reach 1k this week?

no, it wont.
furthermore , it wont go to 1k this year judging by market movements.
sit back and wait, it will happen sooner or later.

Yeah It's much too early to tell when we will enter the next big bull market. I still think it really could be this time! But it's not a given. It may take a few months or could even only happen later this year. I remain bullish, though

Topic: Bitcoin to the moon? (Read 4312 times)