Topic: I just don't get it. - page 2. (Read 10681 times)
Maybe Bitcoin is BRK.A on steroids
This is what Excel predicts:
We'd all be rich if excel could predict the price. This market has no precedent. I do hope it follows that line though.
This is what Excel predicts:
Bitcoin are the future for peoples.. more and more peoples are realizing it.
Fiat are so much debase, and it's only the begining of the realm where fiat are heading to toilet paper use..
World economies are in a so bad shape.. The future is not bright at all..
It took me more than a year to realize how much this thing (bitcoin) is great. Under 100$ it really undervaluated.. IMO, it will stabilize well over 1000$ !
Before realizing how powerfull bitcoins are, I've sold more than 5000 under a dollar.
This is not yet a bubble, look at all-time data log chart, you will see that we are'nt even entering in the bubble territory.
Bitoin are to money, what's email are to regular post and even a lot more.. welcome to the future..
When you'll pay 200$ for a week of potatoes, you'll understand.. those who are pilling fiat for their old days will regret so much !
Fiat are so much debase, and it's only the begining of the realm where fiat are heading to toilet paper use..
World economies are in a so bad shape.. The future is not bright at all..
It took me more than a year to realize how much this thing (bitcoin) is great. Under 100$ it really undervaluated.. IMO, it will stabilize well over 1000$ !
Before realizing how powerfull bitcoins are, I've sold more than 5000 under a dollar.
This is not yet a bubble, look at all-time data log chart, you will see that we are'nt even entering in the bubble territory.
Bitoin are to money, what's email are to regular post and even a lot more.. welcome to the future..
When you'll pay 200$ for a week of potatoes, you'll understand.. those who are pilling fiat for their old days will regret so much !
DoomDumas, I love your posts. Not only because we think alike and you're ultra-bull, but also because of your funny-as-hell english mistakes.
I want this part on a T-Shirt:
FIAT
are so much
debase
DoomDumas
bitcointalk
March '13
I do my best, happy to entertain you
Seems like normal growth to date..
This should double again and again !
Before the june 2011 bubble, price doubled few time in less than a month.. That's old data, not really to be compared to those days state of the coin !
After the long correction to 2, price doubled few time in a time frame from 1 to 3 month.. we are still in this trend..
0.1 0.2 3 weeks late 2010
0.2 0.4 1 week late 2010
0.5 1.0 less than a week feb 2011
1.0 2.0 less than 2 weeks apr 2011
2.0 4.0 less than 2 weeks may 2011
5 10 less than a month may 2011
10 20 less than a week june 2011
Bubble
Bubble pop
then again
2 4 1 month late 2011
4 8 1 month mid 2012
10 20 3 month not so long ago
20 40 1 month now !
So, IMO, it would be reasonable to call for 80/BTC within 3 month.. and easy way to 100 before 2014 !
Very reasonable, concidering BTC are just in the begining to be known, as 99% of the world population did'nt even heard of it yet. The 1% who knows about BTC, a small portion realize the power of it.
Very reasonable, concidering the progress made in the last years, are growing from an experiment to something more and more solid, trusted.
Just my opinion !
This should double again and again !
Before the june 2011 bubble, price doubled few time in less than a month.. That's old data, not really to be compared to those days state of the coin !
After the long correction to 2, price doubled few time in a time frame from 1 to 3 month.. we are still in this trend..
0.1 0.2 3 weeks late 2010
0.2 0.4 1 week late 2010
0.5 1.0 less than a week feb 2011
1.0 2.0 less than 2 weeks apr 2011
2.0 4.0 less than 2 weeks may 2011
5 10 less than a month may 2011
10 20 less than a week june 2011
Bubble
Bubble pop
then again
2 4 1 month late 2011
4 8 1 month mid 2012
10 20 3 month not so long ago
20 40 1 month now !
So, IMO, it would be reasonable to call for 80/BTC within 3 month.. and easy way to 100 before 2014 !
Very reasonable, concidering BTC are just in the begining to be known, as 99% of the world population did'nt even heard of it yet. The 1% who knows about BTC, a small portion realize the power of it.
Very reasonable, concidering the progress made in the last years, are growing from an experiment to something more and more solid, trusted.
Just my opinion !
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.
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.
More people want bitcoins than want to get rid of them. Bitcoin has the potential to be more important than any company on earth as it could become involved in a significant portion of all transactions around the world. With this in mind a bitcoin price in the thousands is quite possible. Consider the Market Cap of Apple and Divide it by 21 Million... Bitcoin has the potential to be way more important than Apple. Of course there is a good chance, it could replaced by another currency which works even better or it could have a flaw and go to Zero.
In my opinion Bitcoin as a speculative investment has more potential upside than any investment I have ever seen in my life. There is also a very high risk of it becoming close to worthless. I think a good strategy with this in mind is decide what small, or very small percentage of your net worth you want to expose to this risk and then buy and hold. If things work out you will probably do pretty well. If they don't you'll lose your small percentage of your net worth invested.
Hopefully that helps.
I dismissed it as "probably broken software" in May 2010 because my laptop hadn't mined even a measly 0.01 BTC which I would've expected. Stupid me for not looking harder and discovering the smallest unit to mine was a block worth BTC 50...
Yep, same. I downloaded blockchain, CPU mined for two days, got worried this crap is burning my laptop and not generating anything, checked forums and saw guys running around with topics like "100,000 bitcoins for 100 dolalrs any takers?", and uninstalled / forgot about it until June next year. Dumb.
Dumbness is being punished (not like in the "real" financial world). I like it. A bit less when it's my own dumbness, though.
I dismissed it as "probably broken software" in May 2010 because my laptop hadn't mined even a measly 0.01 BTC which I would've expected. Stupid me for not looking harder and discovering the smallest unit to mine was a block worth BTC 50...
Yep, same. I downloaded blockchain, CPU mined for two days, got worried this crap is burning my laptop and not generating anything, checked forums and saw guys running around with topics like "100,000 bitcoins for 100 dolalrs any takers?", and uninstalled / forgot about it until June next year. Dumb.
piramida, you repeatedly surprise me with nice fore-/insights.
thanks, it's easy to be right when the price goes in a straight line
just wish I spent more time thinking about what bitcoins really is back in 2010, dismissed it as monopoly money first and will never forget this silliness.I dismissed it as "probably broken software" in May 2010 because my laptop hadn't mined even a measly 0.01 BTC which I would've expected. Stupid me for not looking harder and discovering the smallest unit to mine was a block worth BTC 50...
You guys would feet better if you come to think of what an early adopter who dumped tens of thousands of BTCs back in 2011 would feel now.
Seriously, this is how Bitcoin and free market combined to achieve fairness of the distribution, we are all just pawns of the history.
piramida, you repeatedly surprise me with nice fore-/insights.
thanks, it's easy to be right when the price goes in a straight line
just wish I spent more time thinking about what bitcoins really is back in 2010, dismissed it as monopoly money first and will never forget this silliness.I dismissed it as "probably broken software" in May 2010 because my laptop hadn't mined even a measly 0.01 BTC which I would've expected. Stupid me for not looking harder and discovering the smallest unit to mine was a block worth BTC 50...
piramida, you repeatedly surprise me with nice fore-/insights.
thanks, it's easy to be right when the price goes in a straight line
just wish I spent more time thinking about what bitcoins really is back in 2010, dismissed it as monopoly money first and will never forget this silliness. 
lol
ALL YOUR DEBASE ARE BELONG TO US!
ALL YOUR DEBASE ARE BELONG TO US!
You win all of the internets lol
Yay! My very own interwebz!
http://www.youtube.com/watch?v=8fvTxv46ano
xxjs yes many people still look at bitcoin as some very risky HYIP, so they deserve to be punished by low profits or losses, as they sell low buy high.
As for current naysayers, somehow I feel we lost all of them during the stop at $30 level. They don't have any substantial coins any longer. So now the price will grow until the new breed of naysayers decides it is too high too soon and they should get off.
As for current naysayers, somehow I feel we lost all of them during the stop at $30 level. They don't have any substantial coins any longer. So now the price will grow until the new breed of naysayers decides it is too high too soon and they should get off.
piramida, you repeatedly surprise me with nice fore-/insights.
lol
ALL YOUR DEBASE ARE BELONG TO US!
ALL YOUR DEBASE ARE BELONG TO US!
You win all of the internets lol
Fascinating. Now what if Peter is removed and replaced with the FRBNY? How quickly is that new monopoly money that benji is cooking up being absorbed into the economy? Do you think Paul can help with that? What if he takes out a loan to buy a house? If banks aren't lending and/or people aren't borrowing while money(debt) is being destroyed through credit defaults then where's the mechanism that creates debt greater than previous debt? Cash for clunkers v2.0 anyone?
What you're suggesting is that either helicopter ben did not produce all those dollars seen in the chart above AND he's lying when he says he's printing(QE infinity) or those dollars have not yet trickled down to the peasants in the street yet...a function of velocity. It's this velocity factor that allows for both inflation and deflation to exist simultaneously. The economy of a country as large as the US is a complicated animal.
What you're suggesting is that either helicopter ben did not produce all those dollars seen in the chart above AND he's lying when he says he's printing(QE infinity) or those dollars have not yet trickled down to the peasants in the street yet...a function of velocity. It's this velocity factor that allows for both inflation and deflation to exist simultaneously. The economy of a country as large as the US is a complicated animal.
You gulp up lots of newspeak here, confusing every topic you touch, and use it to argue that I can not understand economy? If you think that inflation and deflation can exist simultaneously, does that make you a great economist?
Yeah your peter & paul story makes it very clear how firmly you grasp economic theory. Sorry to involve complex concepts...like credit. Clearly that doesn't exist either as otherwise peter or paul would've borrowed in your all encompassing epic.
The concept under discussion here is money velocity. I claim that this concept only tells the speed at which people change their minds, and it is not useful to decide the price of money. Only the number of money available, and the public's preferences for holding money decides the price of money.
IOW interest rates have zero bearing on the price of money. OKIE DOKE. We're done here.
Fascinating. Now what if Peter is removed and replaced with the FRBNY? How quickly is that new monopoly money that benji is cooking up being absorbed into the economy? Do you think Paul can help with that? What if he takes out a loan to buy a house? If banks aren't lending and/or people aren't borrowing while money(debt) is being destroyed through credit defaults then where's the mechanism that creates debt greater than previous debt? Cash for clunkers v2.0 anyone?
What you're suggesting is that either helicopter ben did not produce all those dollars seen in the chart above AND he's lying when he says he's printing(QE infinity) or those dollars have not yet trickled down to the peasants in the street yet...a function of velocity. It's this velocity factor that allows for both inflation and deflation to exist simultaneously. The economy of a country as large as the US is a complicated animal.
What you're suggesting is that either helicopter ben did not produce all those dollars seen in the chart above AND he's lying when he says he's printing(QE infinity) or those dollars have not yet trickled down to the peasants in the street yet...a function of velocity. It's this velocity factor that allows for both inflation and deflation to exist simultaneously. The economy of a country as large as the US is a complicated animal.
You gulp up lots of newspeak here, confusing every topic you touch, and use it to argue that I can not understand economy? If you think that inflation and deflation can exist simultaneously, does that make you a great economist?
Yeah your peter & paul story makes it very clear how firmly you grasp economic theory. Sorry to involve complex concepts...like credit. Clearly that doesn't exist either as otherwise peter or paul would've borrowed in your all encompassing epic.
The concept under discussion here is money velocity. I claim that this concept only tells the speed at which people change their minds, and it is not useful to decide the price of money. Only the number of money available, and the public's preferences for holding money decides the price of money.
Fascinating. Now what if Peter is removed and replaced with the FRBNY? How quickly is that new monopoly money that benji is cooking up being absorbed into the economy? Do you think Paul can help with that? What if he takes out a loan to buy a house? If banks aren't lending and/or people aren't borrowing while money(debt) is being destroyed through credit defaults then where's the mechanism that creates debt greater than previous debt? Cash for clunkers v2.0 anyone?
What you're suggesting is that either helicopter ben did not produce all those dollars seen in the chart above AND he's lying when he says he's printing(QE infinity) or those dollars have not yet trickled down to the peasants in the street yet...a function of velocity. It's this velocity factor that allows for both inflation and deflation to exist simultaneously. The economy of a country as large as the US is a complicated animal.
What you're suggesting is that either helicopter ben did not produce all those dollars seen in the chart above AND he's lying when he says he's printing(QE infinity) or those dollars have not yet trickled down to the peasants in the street yet...a function of velocity. It's this velocity factor that allows for both inflation and deflation to exist simultaneously. The economy of a country as large as the US is a complicated animal.
You gulp up lots of newspeak here, confusing every topic you touch, and use it to argue that I can not understand economy? If you think that inflation and deflation can exist simultaneously, does that make you a great economist?
Yeah your peter & paul story makes it very clear how firmly you grasp economic theory. Sorry to involve complex concepts...like credit. Clearly that doesn't exist either as otherwise peter or paul would've borrowed in your all encompassing epic.
My thoughts:
1) People with Bitcoins are not selling cause they know/think the price will get much higher in a couple of years.
2) This causes a price rise since the ammount of sellers is decreasing if the price is in a rally.
3) Cause of this rally and the good news more and more people want to jump in the boat, so the bids increase.
4) Cause the price is based on bid/ask (which gets out of balance) the price rises which throws us back at point 1 of this summary and explaining this rally.
1) People with Bitcoins are not selling cause they know/think the price will get much higher in a couple of years.
2) This causes a price rise since the ammount of sellers is decreasing if the price is in a rally.
3) Cause of this rally and the good news more and more people want to jump in the boat, so the bids increase.
4) Cause the price is based on bid/ask (which gets out of balance) the price rises which throws us back at point 1 of this summary and explaining this rally.
This is correct. It will continue until the market for bitcoins is saturated, then there will be pressure downwards because speculative gain is no more possible. Noone knows for sure when this will happen.
My thoughts:
1) People with Bitcoins are not selling cause they know/think the price will get much higher in a couple of years.
2) This causes a price rise since the ammount of sellers is decreasing if the price is in a rally.
3) Cause of this rally and the good news more and more people want to jump in the boat, so the bids increase.
4) Cause the price is based on bid/ask (which gets out of balance) the price rises which throws us back at point 1 of this summary and explaining this rally.
1) People with Bitcoins are not selling cause they know/think the price will get much higher in a couple of years.
2) This causes a price rise since the ammount of sellers is decreasing if the price is in a rally.
3) Cause of this rally and the good news more and more people want to jump in the boat, so the bids increase.
4) Cause the price is based on bid/ask (which gets out of balance) the price rises which throws us back at point 1 of this summary and explaining this rally.
It will keep going up until the growth dies out. And then it'll come down. The trick is to know when that happens. I figure it's smarter to only sell after it's already come down somewhat than to try to anticipate the peak.
My gut feeling is that the peak will be higher than $50 but lower than $300. Time will tell. After the peak we might come down back to single digits even.
If I had unwisely gotten out of bitcoin I sure as hell wouldn't be buying now, but I'd try to catch the next bottom. Whenever and at whatever price level that might be.
My gut feeling is that the peak will be higher than $50 but lower than $300. Time will tell. After the peak we might come down back to single digits even.
If I had unwisely gotten out of bitcoin I sure as hell wouldn't be buying now, but I'd try to catch the next bottom. Whenever and at whatever price level that might be.
It does not have to go down. It can stay on some level and be a useful and stable type of money. If the speculators are wrong, the price may overshoot before it settles. In the stable end-situation, hoarding for profit is not sustainable. Owning bitcoins in that stage does not produce profit or interest.
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