Topic: Do you really belive that you won't be able to buy at 20$ again? (Read 3332 times)

I need to up my own topic.

Shame on me and enjoy the ride!

With a portable nuclear power plant 

this x 1000 

To me this did'nt look like a rally yet.. just the knowledgeable and wise that are anticipating the real power of bitcoins..  wait for the mass to realize..

To get a more realistic view of this, we must use Log Scale Charts.. and look to history

Few years ago, I sold more than 5k BTC under 1$..

Charts where looking like this at this time..  (Always using log scale for more realistice point of view)



I got in at 0.15  Selling @ 0.90 was a 5 fold increase..  Going from 0.15 to 0.90 use half of the scale.  Going from 1 to 10 uses the other half of the scale, wich is a 10 fold increase.

Look at this chart, Log scale, last 6 month..  It just double, and a bit more.. 2 fold increase, same time frame..



Did those charts look similar ?  The 0.15 to 1$ looks exactly like the 10 to 20 part of the actual chart..



Bitcoins are still unkonwn from 99% of the poeples...

Imagine a 2 fold from now, its 40, 5 fold from now its 100, and this shit is doomed to go mainstream... watch out, we are still the early adopters...

In a decade or so, I may be able to buy a car for my child, paying with BTC, for a price tag under 50 BTC !


I still buy BTC, and will do so, at market price, all the way under 100$, maybe more !  Just hope to have enought fiat, to cash in BTC before it pops to its real stabilized value !

that much hashing power will be included in my 2019-model smartphone

By far the most beautiful ASIC layout



This remind me of the time when every company use their own design to make various computer boards 20-30 years ago

Easy Camaraderie: Your scars have scars, don't they?

Personal Experience: I've only been in the game 6 months (still kicking myself for not starting in early 2011 when I first heard about it) and I'm already getting a bit jaded.

Zen Answer: "The tide will keep coming in, but it comes in waves."

Paranoid Technobabble Analysis of the Zen Answer:
When looking at this analogy the population of people using bitcoin can be roughly compared to a fraction of the mass of the Moon based on a coefficient with bitcoin market capitalization numbers divided by the number of suspected users. The Mass/MarketCap/User coeficient, based on an assumption of an eventual $1000 value being equivalent to the full lunar mass at 21M coins used by 9 billion people, would mean 7.34767309×10^22 kilograms/2.1x10^10 = 3.498x10^12 kg / 9*10^9 = 388kg/person of "tidal influence" on the bitcoin market.

So with our current assumed population of 100,000 users (I've seen all sorts of guesses, I don't know how right/wrong this one is) and value of $22.32, we are only exerting ~9*10^15kg worth of tidal influence currently. Only 0.0000123% of the full tidal pull we will have "someday", but you now know that the bitcoin moon grows by 388kg/$/person, so everyone you tell adds 8,660kg right now, and more in the future.

It's also interesting that our gravitational theory of zen finance methodology has revealed that the impacts we are likely to feel are caused by events, like wind swept waves, rather than our gravitational influence, but as the body increases in mass it will serve to stabilize the price trajectory as well as increase the general movement towards increased values and thus more mass in a feedback loop. The real question is, will we realize the moon is too big and stop before it crashes into the planet and destroys all life?

The Dude: The Dude abides!

I could rephrase your question as this: Did you really believe that you won't be able to sell above $2 again?

My answer is: I did, panic is a universal sentiment and no one is completely immune from it.

Thanks!!!

WISDOM!!!

step 1: add 7200 btc per day to a 0 btc economy
step 2: add 3600 btc per day to a 10,000,000 btc economy
step 3: add 1800 btc per day to a 15,000,000 btc economy     <- this is going to be fun!

The price jump recently makes more sense then past jumps. I think miners have probably triggered it, most are probably holding the coins they mine along with investing in btc rather then new equipment. They will probably continue doing it until ASIC's are easily purchasable. There has also been a lot of publicity lately, just today I ran into a BTC accepted ad while checking for new movies to download at icefilms.info This kind of thing makes me optimistic of the new prices. I don't see a major sell off under $20 at this point.

People want this nice and steady price rise. That's all fine and dandy. But I don't think popularity works that way. Justin beiber went from being relatively unknown to being famous rather quickly. It's not a linear thing...... just IMHO

Assuming it does come back to 20, why would I want to wait until then? How about make some enjoyable profit by buying more now and then selling higher? Let it drop back to 20 and perhaps buy more then.

The market ALWAYS overshoots. Was $31/BTC justified in June 2011? no, but was $4 coin justified in early 2012? I don't think so.

Right now, I think $22 is reasonable, but slightly over-valued, but I believe we will see a lot higher price before we see a significant spike down. I think we will definitely see $30+ again before this rally fades.

Not hard to understand, given that the 'real world's economy' consists (literally) of certain parties with the right to wish money into existence with no limits.

Many things like gold worth a lot simply because people believe it worth a lot, and that belief might come from history, culture, woman, hype...

If majority of the BTC owners believe that one BTC worth at least $1000, then before price reach $1000, there will not be a major sell off, everyone just hoard their coin, the supply is only 3.6k per day (and most of them were hoarded), and the popularity is gaining everyday

I think there are many such true belivers of BTC here, they even believe the BTC is going to take over the real world's economy

i'd put 100 people or less worldwide in the "true believers" category

i remember that *exact* feeling of fear when it went to $2.50 after being relatively stable around 80c - $1

just imagine how you'll look back on this moment in 2 or 3 years.

I keep reading that but it's not necessarily correct. A "true believer" will most likely spend a certain percentage of each paycheck on Bitcoin. At 22 USD / BTC there's about ~2.4 million USD worth of Bitcoin being mined each month. With for example 10,000 "true believers" worldwide that would mean "only" 240 USD per month to make the price rise all by itself.
Now, how realistic these assumptions are is of course debatable but it's simply not true that new investors are absolutely required for higher prices.