Topic: I need bitcoin to be $690 to break even.....will I make it? (Read 26258 times)

For sure. You must go to everyone person on this earth and talk with everyone about it. Then you must convince everyone of them that bitcoin is a big invention and have to many specifics that make it unique. You must convince them about its importance and about the future of it. You must convince them that everyone of them must have as much as they can bitcoin in their wallet for their benefit. In this way they will run to buy some. This will increase to much the demand for bitcoin and this increased demand will raise without doubt the price of it. Doing all this will be end of story. You will have not only your $690 price but much more and you will have not only your break even but even much profit.

I just finished crunching the numbers. Sorry

most people buying high and selling low, and then crying in a couple of years while asking to themselves why they sold an asset that has grown by more than 1000% every years since it's creation

The litmus test of whether you've invested too much is if you panic when price drops.  Invest only what you're willing to lose and stick with it the whole way through or until your exit strategy kicks in.

Just curious... what is your reasoning behind this? Is it because of those major banks like Barclays using the blockchain?

If the price dips just hold it until it rises, then sell if you want to get out. Investing in anything is always a risk, and btc is no different.

Yes it will happen within 1 year of OP posting date, 31 march 2016
2016 will be the year of bitcoin again like 2013 was

he can probably do it next year from 6 to 3 months before the halving, it's guaranteed that something will happen by then, and because everyone know it, they will make something actually happen.

With difficulty change according to mining hash rates which is actually getting change along with number of miners which has main attraction with current bitcoin price. So, everything come in one chain to get the price feasible at any level.

Ask not what bitcoin price appreciation can do for you but what you can do to help promote the adoption of bitcoin.

Hoping the price will go up will not help anyone. Building something useful with blockchain technology just might.

I would cut your losses once it goes back to $300 a coin. Bitcoin has become a lot more stable since it was $600 a coin. More states and countries have accepted or welcomed bitcoin, and I believe with more regulatory acceptance, the more stable the price will be. You may have to wait 5 years for it to get anywhere near that price, and thats a long time and a lot of risk to wait that long if you are trying to recoup those losses.

The price is insanely manipulated, the marketcap is tiny (which only shows the potential Bitcoin has to grow). It's a waste of time trying to mentally masturbate about the price too much, the best tactic is just to buy as much as possible monthly. If you study the technology and understand the context in history where Bitcoin has appeared it should be clear how it is destined to win. Of course everything can go to 0, but I would say there is a 20% chance vs 80% of it becoming insanely valuable in the next years.

Status: Newbie


Please go ------->

If you want to wait for many years, then maybe you can break even. But in near future, I don't think so.

So many years for growing BTC amount to $690 or even more....

Sorry, but the labor theory of value doesn't work here (or there). In fact, it doesn't work anywhere (despite its appeal)

When positive news flow into bitcoin market, the demand decide the bitcoin price like $1200. When negative news (like MT GOX collapse) flow in, the mining cost decides the bitcoin price. So, all the prices are break even as bitcoin has been designed like that with difficulty and together sharing mining capabilities.

thats a high price point to go for i believe.

ALL,

Thanks for all the messages, I read every one of them and you guys are very positive which is refreshing during this time.

But real talk, what the FUCK is going on with this sub $250-$300 price? (Edit- Actually the price is at $230 now, wow)... we are about to approach 2 years of bear market. You early motherfuckers used to see massive bubbles every year, now it's almost become a fantasy. What if there are no more bubbles? What if the block size debate and other limitations becomes the end of bitcoin? What if the devs decide to get rid of the 21million supply cap? There are so many things that are possible that could lead us to a shitty price....

Yet I still have hope. I'm almost positive we are in the extreme lows right now and the price will eventually rise by 2016 block halving. But I have my doubts about it reaching ATH again, or even $1000, or even $690 where I would break even (Update- I've been buying in the 200s and my price avg should be lower than $690... it's maybe about $630 now). It just sucks that I will probably have to wait another year to see any exciting action... I'm really sick of all the bad news and the bear market that never ends.




Excuse me?



Wow, 6 months ago.... and the price right now is $230, pretty sure it's lower than when I posted 
But still, I know bitcoin is going through rough patches right now....




That's what I'm thinking, about needing to hold for a few years....I don't forsee any kind of rally or exciting news anytime soon.





You are very optimistic, it's just hard to be when you see the kind of bullshit that's been happening over the last year. Any tiny uprising we see in price have been crushed by downward pressure. Any good news gets buried by all the bad ones. The sentiment and confidence in the community seems to be near an all time low, which is understandable because of this damn 2 year bear market. I just hope things turn around and go the other way for once

It's time to look at this graph and get some perspective:



Look how step the curve gets in the following 10 years.
We are still lucky to be here able to buy Bitcoins for this low price, so don't waste your time and get ready. We are still early adopters and we will be rewarded by time, just let Bitcoin develop and scarcity + demand will bring us victory.