This is ridiculous. Bitcoin price is afaik a true market price. Unlike the beloved currency of the gold bugs, i.e. gold. Which is imho the most rigged game that is.
And about crashes: Why does everyone think that gold is exempt from things like the dreaded Bitcoin crypto breaking? Gold consists of protons, neutrons and electron, just like dirt. Gold can be produced artificially in significant quantity, just not economically at current prices. It is but a small invention of economic production of gold to crush gold to nothing, once and for all.
Topic: Fair price of bitcoin after a crash - page 4. (Read 5200 times)
We're not really going to see single digit btcusds again.
We will. There are just no way to avoid that.
Mark thread: Extremist Bears Only.
Don't get me wrong. I strongly believe in bitcoin success. In twenty or may be ten years it can reach $50 again. But with current level of volatility it cost nothing.
how is volatility related to the actual cost of bitcoin. Based on your statement, due to the current level of volatility bitcoin cost nothing?
Let me educate you for a minute about economics and finance kid.
The reason bitcoin has such levels of volatility is because the bitcoin market is still small (about 525,000,000 U$S) so it's still very easy to manipulate. Think of it as a PINK sheet stock or penny stock... that can go up 500% in a day and then crash drastically due to big players pumping and dumping....
the more adoption bitcoin achieves, the less volatility the market will have due to more players being in the game and the distribution of wealth will even out. We are talking in probably the next 4-5 years.
bitcoin prices are driven by investors, miners, difficulty (how hard it is to produce one BTC) and other factors.
Thinking that bitcoin is going to go back to the prices posted in the poll is just daydreaming at its best. Unless MTGox gets hacked, or a MAJOR! and I mean MAJOR flaw is found such as a hacker finding a way to steal wallets or something like that, then you can forget about BTC being at 2012 values anymore.
Remember, the curve to generate bitcoins will only get steeper, and the money will start circulating more and more as more people adopts the coin which will drive the value up.
The fact that there can only be 21,000,000 million of it is HUGE too
Think that if only 1% of the US population adopts BTC, then that's 3.3 million people that will want to have at least 1 BTC (a whole one!!!)
and that's the US alone!
If you happen to be right, then hats off to you. But I think you're SO wrong that I'm willing to bet ALL my BTC that the coin will never see single digits this year!
Thread is pointless, the current price of bitcoin is as artificial as [insert commodity]'s price is.
We're not really going to see single digit btcusds again.
We're not really going to see single digit btcusds again.
Mark thread: Extremist Bears Only.
Don't get me wrong. I strongly believe in bitcoin success. In twenty or may be ten years it can reach $50 again. But with current level of volatility it cost nothing.
We're talking about Litecoin, right?
Mark thread: Extremist Bears Only.
We all know what current bitcoin price is artificial. But even a MtGox can't maintain it for a long. Don't know if bitcoin can touch $50 in next several days, but following crash is inevitable.
Because the real value of bitcoin have not changed in the last two years since bubble begun to grow (come on, even a drug-dealers still not use bitcoins), we are going to the same basic level about 0.8$. So, the question is where exactly it will stop to remain still?
Because the real value of bitcoin have not changed in the last two years since bubble begun to grow (come on, even a drug-dealers still not use bitcoins), we are going to the same basic level about 0.8$. So, the question is where exactly it will stop to remain still?
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