I believe the price will be going up and here's why

User705

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Quote from: notme on November 22, 2013, 07:24:55 PM

Quote from: alexmarkley on November 22, 2013, 05:47:58 PM

I'm not an economist, but aren't there better reasons to believe BTC are going up in the long term sense?

I'm thinking of the deflationary nature of the currency, the intrinsic value in the unique attributes of cryptocurrency, the decreasing stability of fiat issuers, etc.. ?

Just remember, Bitcoin monetary base is currently inflating faster than USD monetary base in percentage terms. In the long run, this inflation will fall below USD supply inflation, but it is still well above it.

You and your logics here. Lots of people buying at this run up are the following.
https://bitcointalk.org/index.php?topic=343836.0;topicseen

btcprice

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Quote from: notme on November 22, 2013, 07:24:55 PM

Quote from: alexmarkley on November 22, 2013, 05:47:58 PM

I'm not an economist, but aren't there better reasons to believe BTC are going up in the long term sense?

I'm thinking of the deflationary nature of the currency, the intrinsic value in the unique attributes of cryptocurrency, the decreasing stability of fiat issuers, etc.. ?

Just remember, Bitcoin monetary base is currently inflating faster than USD monetary base in percentage terms. In the long run, this inflation will fall below USD supply inflation, but it is still well above it.

What is your definition of the term "monetary base"?

Tzupy

legendary

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Not to mention that 'inflation' in the ask side of the order books can reach 1000% overnight.

notme

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Quote from: alexmarkley on November 22, 2013, 05:47:58 PM

I'm not an economist, but aren't there better reasons to believe BTC are going up in the long term sense?

I'm thinking of the deflationary nature of the currency, the intrinsic value in the unique attributes of cryptocurrency, the decreasing stability of fiat issuers, etc.. ?

Just remember, Bitcoin monetary base is currently inflating faster than USD monetary base in percentage terms. In the long run, this inflation will fall below USD supply inflation, but it is still well above it.

btcprice

sr. member

Activity: 434

Merit: 250

Quote from: alexmarkley on November 22, 2013, 05:47:58 PM

I'm not an economist, but aren't there better reasons to believe BTC are going up in the long term sense?

I'm thinking of the deflationary nature of the currency, the intrinsic value in the unique attributes of cryptocurrency, the decreasing stability of fiat issuers, etc.. ?

Long term yes. I was talking about short-term price increase.

Should be an interesting night of fireworks once again.

alexmarkley

newbie

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I'm not an economist, but aren't there better reasons to believe BTC are going up in the long term sense?

I'm thinking of the deflationary nature of the currency, the intrinsic value in the unique attributes of cryptocurrency, the decreasing stability of fiat issuers, etc.. ?

Skybits

newbie

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Why not buy half now and dollar cost average on the way down...if you believe it will go down. If the price goes up then you make some money.

eindbaas

member

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umad?

ok

btcprice

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Plenty of people were hearing about tulips and previous bubbles and blowoffs and sorts. When we went parabolic and hit 900 and then started going down, people were afraid of having the price crash down to below 200 or even 100.

But the price bounced at 475. By then many people sold at between 500-600. Since I believe this market is manipulated just like any other market, this means that more bitcoins were available at 500-600. The manipulators were able to get a good deal at that price, especially when they will manipulate it above 1000 eventually (rather shortly I believe).

The frightened people who sold at between 500-600 will be left holding the bag.

Topic: I believe the price will be going up and here's why (Read 1446 times)