Topic: If it goes to $275, are you going to keep faith or just give up save the little. - page 8. (Read 10313 times)

I add on news, not price. I think bitlicence will be crucial

To all those who think the sky is falling, aka chicken littles, aka fairweather friends, SELL IT ALL BEFORE YOU LOSE YOUR HOMES!!!!! then GTFO, leave this to the adults, kthxbye.

Thats correct, but where is the statistic that says, that most (or at least alot of) people think that 275 is a "magic" number? Link?

Correct. The market price is a reflection of buyers and sellers psychology (among other things). The numbers themselves dont mean anything, its how people react to them.

Same if it goes to 250 and then skyrocket. We are already at a level where miners shut down due to unprofitability, so in the long run the price of BTC correlates with the production cost.

/\retracement if it holds $275 and skyrockets..it might have a fighting chance. As it stands now it looks like there exists systemic fraud all over the place....stay tuned ! 

don't pick up a falling knife until it hits the floor! ~~~word to the wise


 : fyi  : the BTC experiment has been effectively cracked.

The point is, as by the technical analysis wizards, that if many people believe that some number is a signal of downtrend, it will be a signal of downtrend.

It can be true or it can be a nonsense. I do not care abouyt magic numbers as well and I am pretty sure we have many fundamental factors that affect btcprice every day, that it is not important.

But who will decide is the market. And on the market it will be not equally all the people, but people with money, who will decide if 275 or 10K price is important.

as long as we dont dip below the last low of ~$50 then we are still pointing up. I know $51 price now would seem like the sky is falling but really, technically that is possible (I think its pretty unlikely though considering the amount of buyers at much higher prices).

anyway, as long as the price stays above the previous low, then the market is still travelling up in the long term:


https://bitcointalksearch.org/topic/m.8445665

Price fluctuations is a temporary thing, Bitcoin is here to stay.

Will I buy more if price goes lower? Hell yeah!

On the market, that I understand, I bought some BTC for less than 100$/BTC and sold a few for 800$ (could have been 1200$) and invested some for 500$. Now I make some BTC on a regular basis, without doing anything. I don't mind if the price is 275. I would maybe start buying below 200 or even less.
Looks like you can easily explain why 275$ is such an important number. Please enlight me.

I don't know about that. Private key with all the bitcoins in it could have pretty handsome collectors value. After all, what many forget about, bitcoin made a solid mark in the history of money.


That was the bottom price in October, the lowest price since the major pump (December 2013). If it goes lower than that, it would be a clear signal that the general down trend continues.

Looks like you don't really understand how the market works 

ofc i will buy some BTC is the price goes down like crazy, is obviously, also i think most of theguys into the BTC will do the same.



exactly, thats why i say most of the ppl into the BTC world will buy if prices goes down, because they already understand it


Most of the ppl beleive that the protocol will never died, on the contrary, "we" really beleive that this system will grow up  ( i think ), so the strategy is simply as always, buy with low prices, sell with hight prices

because 275 is the first going down that is made of 3 prime numbers.

This is a good way of thinking imo. I am waiting with whole market for the 80 weeks mark.

But you miss two things:

1. Market already more or less counts with future certain events. If the reward will be half in 1&1/2 year and 1/4 in 5 years, market counts with it. My USD in bank make 0.1% p.a. My investment in Lending club makes 10%. My own investment where I must work and manage team of people makes 50-300% p.a. Compared to this is investment into btc where I plan to cash it out in 5-50 years high ROI investment. Not to mention that it is hedge of my fian money position.

2. While 30M/month might look like huge money, it is nothing. Look for how much stupid Twitch was sold: ~1bn USD, Skype was sold for 8.5 bn. Seeing from this perspective the value of all future bitcoins that will be yet mined and should be allocated through market, because as you point out miners must pay for electricity, is roughly 2 bn USD. There is a lot of free capital and it flowsinto much more shitty investments than into possible reserve currency of the world.

Amongst bitcoiners there are not just:
- oldschoolers
- bitcoin fans, who eat from parent's refrigeators and bet their credit from student loan on btc
- miners

There are also investors, who see what I just wrote. There are not so many people needed who can raise together 2 bn. Important for those people is what is written in this article: http://www.coindesk.com/firstmark-director-bitcoin-needs-entrepreneurs-understand-money

Sorry, but you really are an idiot and gambler. If youinvest even more than you have (credit), you are crazy. The worst what can happen to you is btc appreciation, because then you will continue doing the gamble in higher amounts and you will hurt many people b4 you finally bust in the next round. The ship can always sink. Anybody who thinks that he has a lock is totally off reality and btw. will never make and hold any money.

I have few hundreds btc, it is less than 1% of value of my property, but I feel it still as reasonably risky adventure. I will buy more, yes, if price drops. If it goes below 50 I will go over 1K btc probably. Yday I bought few more. Tomorrow I will accept another payment in btc and will not convert. It depends also on other cryptocurencies. There will be just one cc widely accepted as money, maybe two (one official, second for drugs and moneylaundering etc.), but nowehere is written it will be btc. It;s only advantage is that it is first.

We Choose the Moon

https://www.youtube.com/watch?v=EeGw32e5Em4

 

buy. start learning what BTC is and you understand the implications of that tech. 

First may I suggest you stop thinking in dollars, euros, yen or any of these.

Just count how much btc you have. Save as much as you can.

Too many people involved with bitcoin are trying to hurry things along and have bitcoin knock on the door of other world currencies or integrate itself into present financial sectors it was actually created to replace.   

Just sit back and relax. 

These sacred cows will need to knock on bitcoin's door sooner or later and with a few of the items I hear in the news related to some international markets I think it may be sooner vs. later although not all the knocks will be from the US. 

Also if you cannot think like I suggest and must think in dollars please remember less than 2 years ago 1 btc was what.....$30 ?

If your honest expectation is that bitcoin is going to be valued at anything like $5000 to $10000 for 1 btc anytime soon it may not happen.
You have to face that.  I would have no problem if it did happen but I think it very unlikely. 

I have said in the past and stand behind my prediction that by mid 2015 I would expect some price increases on the high end to maybe $3000.

Still this is just my personal prediction based on many things. 
The next real shot in the arm should come when each solved block only pays 12.5 btc +fees.

Try to think of bitcoin as a one way trip.  If you are thinking about selling bitcoin in the future for large dollar amounts per btc consider if there is hyper inflation ?  In a case like this even people who are millionaires would be no better off as those earning minimum wage. If a weeks worth of groceries cost you $100,000 what good would all the dollars be ?   The dollars would turn to dust in your hand.


Anyone who thinks it can't happen here , well I hope you are correct and I will be happy to be wrong.

I don't want it to happen.  It would be very hard for many people.  Still what we see in other nations of the world now are microism's of what our future may look like unless large drastic changes were made to many things that I do not ever see happening.  The last several presidential administrations in America have pretty much doubled the debt during their terms. For ever dollar the government creates since banks only need keep a small amount on reserve they can 'create' up to 90% more in 'new money' out of thin air.

This is not about party politics this is about kicking the can down the road.  Since the entire American economy is subject to manipulation from several powerful entities to a lesser or greater extent they may be able to kick the can down the road for a long time still.  How long I don't know.

It depends on many external factors.  Internal too. It could be 5 years, probably more like 30 years.  Maybe 50.  I think it  doubtful it can last 100 years or longer before there is a full blown financial collapse.   While many factors could delay this (like proposals to scrap the dollar and make a north american dollar to throw other countries into the fire too)   I don't think it can be delayed forever under the present system of fractional reserve banking , free trade and without the government issuing its own fiat currency vs. paying a private corporation ( the federal reserve) to do so.

It is no accident the Federal Reserve is in the white pages of the phone book not the blue pages , although many believe it to be a government agency it is a private corporation just like Apple or Starbucks.


To me one of the strongest long term properties of bitcoiin is that it will have the ability to protect people in the future from loss of their life savings to situations like I mentioned.



If you invested in bitcoin with money you cannot affort to tie up long term I can understnad your impatience.  I may suggest you speculate in something that is more likely to produce the short term gains you need for your investment since bitcoin , great as it is in concept and practice can offer no future price guarantees.