Does anyone think the price is unsustainable? Only bears please and seriousness. - page 4.

Bitcoin BEAR

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Quote from: torrentheaven on November 26, 2013, 05:11:57 PM

Funny how many think this price is unsustainable. I bet they hope for huge crash to two digits Cheesy

Funny how many thin this price is sustainable. I bet they stand a lot to lose which is why they are so delusional Cheesy

PS
The 52wk low is about $11.89
To an investor rich or poor, this is not the time they will be buying in

Crazy

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China and the US markets have essentially decoupled. This is for me, the clearest indication we've reached the apex of this bubble, or close to it. China was leading it, and now speculation is what's causing the US markets to act on their own accord.

Edward50

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We have some good posts going here and it is nice to hear some posts from people who are not ridiculously bullish.

I believe part of the reason why the price is so high is that it is very difficult to cash out bitcoins. If someone wanted to cash out say $200,000 worth of bitcoins then he would have to do a lot of research and may have to do it very slowly. This is causing a lot less sell pressure. There is no way that the Chinese or the bitcoin bulls will spend that kind of fiat dollars buying all those expensive bitcoins from the people who want to cash out.

Once this price boom stalls and starts to creep lower, the mass cashing out will start. That is when a lot of hell will break loose. Anyone holding a large amount of bitcoins are hopefully cashing out at least a small percentage.

I think it will hit $1000 though.

ElectricMucus

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Quote from: John999 on November 26, 2013, 07:25:27 PM

Quote from: Crazy on November 26, 2013, 07:20:32 PM

Quote from: Overcast on November 26, 2013, 07:00:47 PM

When BTC collapses it will do so quickly and countless online millionaires will suddenly be online bums. This will not be easy for them to take.

That's interesting, because I too believe the crash of this bubble will result in the first Bitcoin related suicides.

I sincerely hope not. It would be dramatic.

I am addicted to Internet Drama, of any kind so fuck your ethics!

Crazy

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Quote from: Overcast on November 26, 2013, 07:00:47 PM

When BTC collapses it will do so quickly and countless online millionaires will suddenly be online bums. This will not be easy for them to take.

That's interesting, because I too believe the crash of this bubble will result in the first Bitcoin related suicides.

Overcast

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I don't consider myself a 'bear' or 'bull'. Just an interested onlooker.

A few days ago I listed some of the problems which face BTC here: https://bitcointalk.org/index.php?topic=344492.0;topicseen

None of my concerns were well-answered.

I am very happy for people who bought at low prices, sold at high prices, and have realised big profits from their investment into cryptocurrency.

At the same time I think that cryptocurrency will prove to be just like regular money in that it ruins more peoples lives than it improves.

How do you think people will feel if and when they have dozens/hundreds/thousands of near-worthless BTC which they *could* have sold for nearly $1000? Or for $10,000 (if it rises that high)? They will be shattered, many probably suicidal.

I imagine that many BTC holders are reading this thinking 'If it collapses, I will get out just before it does'. Do you think the dudes jumping out of buildings on Black Tuesday didn't have the same plan?

When BTC collapses it will do so quickly and countless online millionaires will suddenly be online bums. This will not be easy for them to take.

pera

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バカ

Quote from: wobber on November 26, 2013, 05:19:59 PM

Yes it is unsustainable. Think of 4k coins daily and the money needed to buy all of those.

Actually, the price could go up some more or sideways for a few weeks. But bubblepop's time will come... Sadly...

I wouldn't say "sadly": since 2011 the price is growing exponentially, that's fantastic, but over the last 40 days we went double exponentially, that's madness, specially without some mass adoption supporting it (where mass adoption means mass use of bitcoin, not mass speculation)

phelix

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From my models price should be somewhere around $250. I really hope it will go for a stopover on planet earth for some refueling before it goes ttm. The Bitcoin reactor does not yet have the critical mass to self-sustain without media afterburner imho.

We are past the news peak according to Google trends...

fleabag

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Quote from: torrentheaven on November 26, 2013, 05:11:57 PM

Funny how many think this price is unsustainable. I bet they hope for huge crash to two digits Cheesy

if this goes to double digits now. its all over

wobber

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Yes it is unsustainable. Think of 4k coins daily and the money needed to buy all of those.

Actually, the price could go up some more or sideways for a few weeks. But bubblepop's time will come... Sadly...

ElectricMucus

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Quote from: torrentheaven on November 26, 2013, 05:11:57 PM

Funny how many think this price is unsustainable. I bet they hope for huge crash to two digits Cheesy

Fractional digits actually, not because I want to buy in at this price, but because the fallout would be hilarious. Still that doesn't affect how I speculate, if it goes up, fine I am a happy as long as I can siphon off fiat, I buy and sell all the time.

torrentheaven

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Funny how many think this price is unsustainable. I bet they hope for huge crash to two digits Cheesy

Ibian

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Quote from: fleabag on November 26, 2013, 04:57:20 PM

Quote from: Ibian on November 26, 2013, 04:52:14 PM

The only ones holding the bag will be the people with fiat. And at this point, I don't feel sorry for them.

Cash is king! I love cold hard fucking cash!

Me too. I never use plastic except for online stuff. But fiat is gonna crash, it's built into the system. Change is required for financial survival, across all of society including down to the individual level.

fleabag

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Quote from: Ibian on November 26, 2013, 04:52:14 PM

The only ones holding the bag will be the people with fiat. And at this point, I don't feel sorry for them.

Cash is king! I love cold hard fucking cash!

Ibian

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Quote from: ElectricMucus on November 26, 2013, 04:54:37 PM

Who the frack cares if it is sustainable?

I kind of do. As little as ten coins could enable most of us to live a nice work-free life for the next 50 years and still have a few millions left over. But only if it doesn't crash in the meanwhile.

ElectricMucus

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Who the frack cares if it is sustainable?

Ibian

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The only ones holding the bag will be the people with fiat. And at this point, I don't feel sorry for them.

fleabag

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The pyramid is going to collapse. Way too many bulls now. Someone is going to eventually have to hold the bag.
One reason I think it will fall is because fractional purchases of a full bitcoin should not move the price to the next bid. For example if I want to buy $100 worth of bitcoin the price should not move to the next bid until one full bitcoin is sold. Hypothetically if you have no human investors and only bots, the price will keep going up and up with .00001 buys and sells. so you have a .01 buy at $800 then a .01 buy at $801 .01 buy at $802 etc. but nobody is actually buying a whole coin, so how can there be all this money when the price can be increased buy putting in a $8 buy. Total false price mechanism.

MAbtc

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