Topic: Calling $20 solid floor - page 2. (Read 2697 times)

Well you see, I will never "have" to buy BTC back because it will never bee a NWO currency. It can't be as it is too difficult for 99% of population to get into and then risk losing because of ZERO regulation. My prediction is that it WILL test $127 within then next week and if that does not have a rally from there....LTFO because he comes the $20's.

Actually this is based on simple charting combined with ZERO positive news.

Hold on a second...

    Comparing Bitcoin to the widespread adoption of the Internet would be akin to the following analogy.

----  We went from Internet being "expensive" to Internet being "cheap" and now we're going from Bitcoin being "expensive" to Bitcoin being "cheap".

    How could this be?

    Well, in the early days, maybe you paid $29.99 a month for 300bps access to CompuServe or Prodigy or God forbid AOL dialup.
    As the supply of bandwidth increased -- your cost went down.

    Now you can buy 50Mbps for $50/mo. in some markets of the US and the prices are better or worse in other markets.

----

    Back to Bitcoin.

----

    Supply and demand economics say we're going to evaluate the November 2013 price of Bitcoin purely due to high demand and limited supply.
    Let's ignore the short cycle of the market.
    When the reward halving happens and the emission curve diminishes yet again we shall see a similar but exponentially greater increase in the price of Bitcoin.
    The reason the next reward halving will have an impact an order of magnitude greater is due to the market hopefully having grown thus the demand side of the equation will be much more broad.

----

    This is where the comparison to the Internet stops dead in its tracks.

    You can't increase the Bitcoin emission without breaking the social contract and its economic model and Money Supply.
    You can forever add more networks and fabric to the backbone of the Internet which stabilize the monthly ISP subscription fee.

    One day, Bitcoin will either be a dead blockchain archived forever in a future Encyclopedia or it will be a commodity which has reached depletion and is being heavily traded by all peoples for any type of transaction.

Kind Regards,
-Chicago
    

But what if you are wrong and someday you will have to buy back the amount that you sold off at much higher price. The point that I want to state is that we can never so accurately predict what is going to happen next.

1. You have weak hands.
2. It won't drop that low.

Yes, it will happen now 

We are going up.

It should hit $127 within a week. I sold my remaining BTC and will be back in NEVER. BTC is a bust. NO SECURITY, NO REGULATION and at this difficulty and price, NO incentive to mine.\ Buy gold. It has been here forever and will stay here forever. It is at the beginning of another bull market.

nothing is over
I see people calling death to bitcoin coz its price dropped. Price dropped because of a bubble burst not because something wrong with bitcoin itself. Bitcoin has seen several bubbles before and will probably face more bubbles in future.

The internet blew up overnight? This couldnt be further from the truth.
When compared to internet or email or other major technologies that required mass adoption the time has been 10-20yrs (depending on criteria and when did it start) and shrinking. In todays world everything happens faster.
2019 is 10yrs for bitcoin, if we assume it will happen faster... 2017?


@OP, I kinda feel the same way, lots of fkin regret from not going out earlier... However 20$ seems a little far fetched. Also the logic that market cap should equal transaction volume seems a lil flawed.

It had its chance to go down to $20 or whatever many months after crashing from $266.  If we go that low again its cause its over.

hm.. I think it took decades for internet to get from a laboratory network to a world wide web. Bitcoin is spreding very fast compared to the Internet. Altho not nearly as fast as bitcoin bubble pumpers would hope

funny, because before.. everyone was comparing bitcoin to the internet, and focusing on how the internet blew up overnight. now bitcoin's going to take decades to get off the ground? i'm not so sure.. and i never bought into the the internet comparison.

Very few people use bitcoin right now. It is still new and unknown technology.
You may see daily transaction volume
https://blockchain.info/charts/estimated-transaction-volume-usd
Market cap should be about this size

I do beleive that bitcoin (or similar decentralized currency) is going to be used by billions of people all over the world in not too distant future. But today bitcoin is still very new and unknown to the world and this is why current BTC prices are too damn high. Its a bubble which is bursting right now

there are too few bitcoin, to be worth so low, if everyone would have 1 btc it must be worth thousand of dollar, this isn't about reason it's simple math, it can't have such low value or it die

what makes you think this way?
I personally think bitcoin should worth $20 because of current transaction volume. It may not be a good investment tool due to its hight price volatility. This is my reasoning. What is yours?

I don't see world financial system collapsing any time soon. US Dollar is not going to lose 90% of its value in a couple of months unlike bitcoin

cost that much? righ now the market cap is ridiculous low, bitcoin is super undervaluted

You do realize the real world financial system can collapse any second right?  What good does going all in on fiat do then?  This is why Bitcoin is worth something, the alternative is as bad or worse.

there is no reason for BTC to cost that much. The only reason BTC may hold its value is by being a transactional tool. Less and less people will be keeping it as an investment. According to current transaction volume bitcoin will not fall below 7$ if nothing disastrous happens (like the end of the world or smth)

I've seen it but I didn't pay much attention. I wish I did since I was holding a considerable amount of BTC and now I regret alot I didn't sell it earlier
I know some people keep their life savings in BTC. I know it is painful to sell now. But you are going to wish you've sold today at a current ($180-ish) rate in a week from now.