I just don't get it. | Bitcointalksearch.org

MtRev

sr. member

Activity: 448

Merit: 250

Quote from: Bitobsessed on March 09, 2013, 05:53:25 AM

Quote from: MtRev on March 09, 2013, 05:32:21 AM

Looking back at my old post and reading your comment, i guess you were wrong.

Personally, I see support within the $25-30 range.

Don't get me wrong though, I do feel that Bitcoin will gain more in value, but not until there a pull back from people taking in profits.
Everyone so hyped about the news, it's just being overbought.

However, I do believe in a few years down the line, 1 BTC will = $500 or maybe even $1,000.
If BitCoin was to fail, I think it would had already done so by now.

Once these coins fully distributed, the value of these coins will rise even higher.

I remember when Paypal was just beta and I was trying to get referrals.. . everyone laughed at me and asked "wtf is a PayPal?"
When Paypal got a bit more popular, you see them on some home business type websites and people just saw them as "cheap" or non-legit websites -- its now 15 years later (damn, I wish i stocked up when they went IPO) and look where they are at today! Just about every website accepts them as a form of payment! Hell, I even recall seeing a PayPal opton at Home Depot and Ace Hardware! 15 years may seem like a long time, but if you think about it.. . when paypal was just beta, it feels like it was just yesterday.

I really see the same thing happening to for BitCoin, the only difference is that it will pick up much faster since the newer generation is more willing to accept this new concept.

EDIT:

I forgot to note, please don't be an idiot taking out a mortgage or any type loan to invest in Bitcoins.
Invest a 'small' % of your monthly income instead.

If you missed the first opportunity, sell now.

Looking back at my old post and reading your reply.. .
I guess you were wrong.

zkay

full member

Activity: 126

Merit: 100

Quote from: MtRev on March 09, 2013, 05:32:21 AM

Personally, I see support within the $25-30 range.

Don't get me wrong though, I do feel that Bitcoin will gain more in value, but not until there a pull back from people taking in profits.
Everyone so hyped about the news, it's just being overbought.

However, I do believe in a few years down the line, 1 BTC will = $500 or maybe even $1,000.
If BitCoin was to fail, I think it would had already done so by now.

Once these coins fully distributed, the value of these coins will rise even higher.

I remember when Paypal was just beta and I was trying to get referrals.. . everyone laughed at me and asked "wtf is a PayPal?"
When Paypal got a bit more popular, you see them on some home business type websites and people just saw them as "cheap" or non-legit websites -- its now 15 years later (damn, I wish i stocked up when they went IPO) and look where they are at today! Just about every website accepts them as a form of payment! Hell, I even recall seeing a PayPal opton at Home Depot and Ace Hardware! 15 years may seem like a long time, but if you think about it.. . when paypal was just beta, it feels like it was just yesterday.

I really see the same thing happening to for BitCoin, the only difference is that it will pick up much faster since the newer generation is more willing to accept this new concept.

EDIT:

I forgot to note, please don't be an idiot taking out a mortgage or any type loan to invest in Bitcoins.
Invest a 'small' % of your monthly income instead.

Any more opining on this? Do you see the profit taking occurring at or around $50 like last time?

Bitobsessed

sr. member

Activity: 291

Merit: 250

Quote from: Bitobsessed on March 09, 2013, 05:53:25 AM

Quote from: MtRev on March 09, 2013, 05:32:21 AM

Personally, I see support within the $25-30 range.

Don't get me wrong though, I do feel that Bitcoin will gain more in value, but not until there a pull back from people taking in profits.
Everyone so hyped about the news, it's just being overbought.

However, I do believe in a few years down the line, 1 BTC will = $500 or maybe even $1,000.
If BitCoin was to fail, I think it would had already done so by now.

Once these coins fully distributed, the value of these coins will rise even higher.

I remember when Paypal was just beta and I was trying to get referrals.. . everyone laughed at me and asked "wtf is a PayPal?"
When Paypal got a bit more popular, you see them on some home business type websites and people just saw them as "cheap" or non-legit websites -- its now 15 years later (damn, I wish i stocked up when they went IPO) and look where they are at today! Just about every website accepts them as a form of payment! Hell, I even recall seeing a PayPal opton at Home Depot and Ace Hardware! 15 years may seem like a long time, but if you think about it.. . when paypal was just beta, it feels like it was just yesterday.

I really see the same thing happening to for BitCoin, the only difference is that it will pick up much faster since the newer generation is more willing to accept this new concept.

EDIT:

I forgot to note, please don't be an idiot taking out a mortgage or any type loan to invest in Bitcoins.
Invest a 'small' % of your monthly income instead.

If you missed the first opportunity, sell now.

That was fun.

Kupsi

legendary

Activity: 1193

Merit: 1003

9.9.2012: I predict that single digits... <- FAIL

Quote from: justusranvier on March 05, 2013, 10:53:09 AM

This is what Excel predicts:

This is to slow. Try to use the market cap instead Cheesy

https://blockchain.info/charts/market-cap?showDataPoints=false&show_header=true&daysAverageString=1×pan=all&scale=1&address=

Bitobsessed

sr. member

Activity: 291

Merit: 250

Quote from: MtRev on March 09, 2013, 05:32:21 AM

Personally, I see support within the $25-30 range.

Don't get me wrong though, I do feel that Bitcoin will gain more in value, but not until there a pull back from people taking in profits.
Everyone so hyped about the news, it's just being overbought.

However, I do believe in a few years down the line, 1 BTC will = $500 or maybe even $1,000.
If BitCoin was to fail, I think it would had already done so by now.

Once these coins fully distributed, the value of these coins will rise even higher.

I remember when Paypal was just beta and I was trying to get referrals.. . everyone laughed at me and asked "wtf is a PayPal?"
When Paypal got a bit more popular, you see them on some home business type websites and people just saw them as "cheap" or non-legit websites -- its now 15 years later (damn, I wish i stocked up when they went IPO) and look where they are at today! Just about every website accepts them as a form of payment! Hell, I even recall seeing a PayPal opton at Home Depot and Ace Hardware! 15 years may seem like a long time, but if you think about it.. . when paypal was just beta, it feels like it was just yesterday.

I really see the same thing happening to for BitCoin, the only difference is that it will pick up much faster since the newer generation is more willing to accept this new concept.

EDIT:

I forgot to note, please don't be an idiot taking out a mortgage or any type loan to invest in Bitcoins.
Invest a 'small' % of your monthly income instead.

If you missed the first opportunity, sell now.

MtRev

sr. member

Activity: 448

Merit: 250

Personally, I see support within the $25-30 range.

Don't get me wrong though, I do feel that Bitcoin will gain more in value, but not until there a pull back from people taking in profits.
Everyone so hyped about the news, it's just being overbought.

However, I do believe in a few years down the line, 1 BTC will = $500 or maybe even $1,000.
If BitCoin was to fail, I think it would had already done so by now.

Once these coins fully distributed, the value of these coins will rise even higher.

I remember when Paypal was just beta and I was trying to get referrals.. . everyone laughed at me and asked "wtf is a PayPal?"
When Paypal got a bit more popular, you see them on some home business type websites and people just saw them as "cheap" or non-legit websites -- its now 15 years later (damn, I wish i stocked up when they went IPO) and look where they are at today! Just about every website accepts them as a form of payment! Hell, I even recall seeing a PayPal opton at Home Depot and Ace Hardware! 15 years may seem like a long time, but if you think about it.. . when paypal was just beta, it feels like it was just yesterday.

I really see the same thing happening to for BitCoin, the only difference is that it will pick up much faster since the newer generation is more willing to accept this new concept.

EDIT:

I forgot to note, please don't be an idiot taking out a mortgage or any type loan to invest in Bitcoins.
Invest a 'small' % of your monthly income instead.

OhShei8e

legendary

Activity: 1792

Merit: 1059

Quote from: Piper67 on March 05, 2013, 09:13:01 PM

Quote from: justusranvier on March 05, 2013, 08:15:57 PM

The changes needed to make Bitcoin scale aren't conceptually difficult. The only problem is that for some reason people are opposed to allowing Bitcoin to succeed.

Only those heavily invested in some altcoin or other. The rest of us know what needs to happen.

Good to know.

ArticMine

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Activity: 2282

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Monero Core Team

Quote from: massivebitman on March 04, 2013, 06:05:01 AM

Why does the price of bitcoin keep going up???

I'm pissed now that I sold all of mine.

It's gone up nearly $8 since I jumped ship.

I think about buying back in but I keep thinking it it is a high risk, and hard to make a decent profit at this price... Could it really get into the $60+ range?

I find it hard to believe.

So seriously... What is it?

What are the factors at play here.. Help me make an informed decision.

I just can't figure this thing out.

Here is a possible explantion. They need and are able to hire because they are processing more and more Bitcoin transactions. https://bitcointalksearch.org/topic/bitpay-is-hiring-5-full-time-positions-open-atlanta-149573

Piper67

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Quote from: justusranvier on March 05, 2013, 08:15:57 PM

The changes needed to make Bitcoin scale aren't conceptually difficult. The only problem is that for some reason people are opposed to allowing Bitcoin to succeed.

Only those heavily invested in some altcoin or other. The rest of us know what needs to happen.

johnyj

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Activity: 1988

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Beyond Imagination

Quote from: justusranvier on March 05, 2013, 08:15:57 PM

The changes needed to make Bitcoin scale aren't conceptually difficult. The only problem is that for some reason people are opposed to allowing Bitcoin to succeed.

Technically there is no problem, but that is not a technical problem, it is a split at much higher level

Just like compare Iphone with Adroid phone, some people like this, some people like that

creativex

sr. member

Activity: 434

Merit: 250

Quote from: proudhon on March 05, 2013, 08:20:46 PM

Quote from: justusranvier on March 05, 2013, 10:53:09 AM

This is what Excel predicts:

I actually lol'd when I saw that. Thanks for the laugh.

If you think that's funny you'll love this new all time high thingy...

$40.90

Edit:

Make that:

~~$40.90~~ $41.10

proudhon

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Quote from: justusranvier on March 05, 2013, 10:53:09 AM

This is what Excel predicts:

I actually lol'd when I saw that. Thanks for the laugh.

justusranvier

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The changes needed to make Bitcoin scale aren't conceptually difficult. The only problem is that for some reason people are opposed to allowing Bitcoin to succeed.

OhShei8e

legendary

Activity: 1792

Merit: 1059

Quote from: Monster Tent on March 04, 2013, 05:23:30 PM

Its yet to be seen if bitcoin can scale given the block size issue and a hard fork managed badly could seriously put a dent in confidence.

There are good reasons to be cautious.

Any news on this? I'm curious how it works. But too lazy to read the developer list. ;-)

Jutarul

donator

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Merit: 1000

I wanted to add that divide and conquer also applies to economy... and thus the velocity theory of money.

I don't think it's the people's fault. Watch the movie "end of road". It explains nicely how the situation of the common family slowly eroded throughout the last 40 years, until a point at which they had to take credit to keep up their standard of living. This game has ended now. There's no leverage anymore. The inflation machine has squeezed the economy dry.

Spaceman_Spiff

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₪``Campaign Manager´´₪

Quote from: Jutarul on March 05, 2013, 11:53:53 AM

Quote from: johnyj on March 05, 2013, 11:39:57 AM

But why the velocity is down is much more difficult to analyze. I think it is largely due to money concentration caued by technology advance and globalization/ and less and less future demand

or.... it is a natural phenomenon whenever money accumulates with a few very rich. They just can't spent fast enough, as the remaining 99.9% would.

Or people feel uncertain about being fired in a bad economy, thus logically save more for a rainy day...

Jutarul

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Quote from: johnyj on March 05, 2013, 11:39:57 AM

But why the velocity is down is much more difficult to analyze. I think it is largely due to money concentration caued by technology advance and globalization/ and less and less future demand

or.... it is a natural phenomenon whenever money accumulates with a few very rich. They just can't spent fast enough, as the remaining 99.9% would.

johnyj

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Activity: 1988

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Beyond Imagination

Quote from: DeathAndTaxes on March 04, 2013, 05:56:09 PM

The FED only know one way to stimulate the economy and that is to pour dollars on everything like gasoline. The M2 has "only" expanded 60% or so in the last three years. Why? The FED can't directly change the amount of money in circulation. It can only create conditions where banks increase debt which produces more money. However banks have found this great loophole. They borrow money from the FED for essentially 0% dump it into Tbonds for 2% to 3% and collect a nearly risk free return.

Still 60% M2 inflation in three years is pretty huge. You may be wondering if the number of dollars has increased by 60%+ why haven't prices almost doubled. Well velocity has fallen off a cliff.

Thanks for sharing this chart. I think the decrease in money velocity is the real problem behind the scene, it seems after 2000 the total consumption is decreasing most of the time, and this just showed that economy can not grow forever

But why the velocity is down is much more difficult to analyze. I think it is largely due to money concentration caued by technology advance and globalization/ and less and less future demand

Jutarul

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There are physical limits to where the price can go in monetary terms. I expect first one to be the gold price barrier: ~ 500g Gold/BTC
Please note these physical limits don't exist with paper currencies like the USD, because they are infinitely inflatable.

Grouver (BtcBalance)

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Quote from: justusranvier on March 05, 2013, 10:53:09 AM

This is what Excel predicts:

If you draw that line from the start via the average of June 2011 it would have been $1000000~ now lol.

Topic: I just don't get it. (Read 10681 times)