Is anyone worried how fast BTC is climbing in price? - page 4.

scarsbergholden

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Quote from: crazy_rabbit on October 21, 2013, 03:00:50 PM

Quote from: Luckybit on October 21, 2013, 02:54:38 PM

Quote from: Herp on October 21, 2013, 02:00:45 PM

This whole move started since Second Market entered the game. They can drive up price to 1k in no time as they have quite a few billionaire clients buying whatever they pitch and Bitcoin is their featured top investment right now.

I find it surprising people don't get it and come up with various crap explanations like "Silk road" this or "US gov shutdown" that.

Angry birds market cap sits at $7 billion. A revolutionary payment system like Bitcoin should sit somewhere at $200 billion atm and it barely touched $2billion. Bitcoin is hugely undervalued. Price should be somewhere around $20k/Bitcoin.

Bitcoin has a potential market cap in the trillions. Mastercoin built on top of it puts it at least at 5 trillion (Forex level). Readjust your calculations.

Wait, master coin does what?

(Disclaimer: I own master coins)

Other then that- YES I am VERY worried how fast the price is climbing. As thrilling as it all is, the faster it climbs the harder it crashes tends to be my thoughts. If it's going to be a trillion dollar thing, I'm more then happy to wait ten years for it.

exactly how i feel. we're going up so fast, it's starting to feel like april. gosh, watching it crash below 200 down to 50 was an incredible and sickening feeling!

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: Luckybit on October 21, 2013, 02:54:38 PM

Quote from: Herp on October 21, 2013, 02:00:45 PM

This whole move started since Second Market entered the game. They can drive up price to 1k in no time as they have quite a few billionaire clients buying whatever they pitch and Bitcoin is their featured top investment right now.

I find it surprising people don't get it and come up with various crap explanations like "Silk road" this or "US gov shutdown" that.

Angry birds market cap sits at $7 billion. A revolutionary payment system like Bitcoin should sit somewhere at $200 billion atm and it barely touched $2billion. Bitcoin is hugely undervalued. Price should be somewhere around $20k/Bitcoin.

Bitcoin has a potential market cap in the trillions. Mastercoin built on top of it puts it at least at 5 trillion (Forex level). Readjust your calculations.

Wait, master coin does what?

(Disclaimer: I own master coins)

Other then that- YES I am VERY worried how fast the price is climbing. As thrilling as it all is, the faster it climbs the harder it crashes tends to be my thoughts. If it's going to be a trillion dollar thing, I'm more then happy to wait ten years for it.

Luckybit

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Quote from: Herp on October 21, 2013, 02:00:45 PM

This whole move started since Second Market entered the game. They can drive up price to 1k in no time as they have quite a few billionaire clients buying whatever they pitch and Bitcoin is their featured top investment right now.

I find it surprising people don't get it and come up with various crap explanations like "Silk road" this or "US gov shutdown" that.

Angry birds market cap sits at $7 billion. A revolutionary payment system like Bitcoin should sit somewhere at $200 billion atm and it barely touched $2billion. Bitcoin is hugely undervalued. Price should be somewhere around $20k/Bitcoin.

Bitcoin has a potential market cap in the trillions. Mastercoin built on top of it puts it at least at 5 trillion (Forex level). Readjust your calculations.

rocks

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Quote from: Zangelbert Bingledack on October 21, 2013, 02:11:05 PM

There are quite a large number of possible drivers here. It could be almost all Second Market, with a dash of China. It could be almost all a few people's foreknowledge of IMF haircuts, with a dash of China. It could be just that some whales were holding off until SR got shutdown. There are so many big reasons. China is definitely at least a sizable chunk of it, though.

The large number of possible drivers is the reason that BTC is almost guaranteed to go up significantly over time. There are almost 200 countries, all with fiat issues, and anyone could have a populace that decides to use BTC to hide from inflation (hello Argentina). Or there are any number of new investment vehicles who could drive the price. Or speculative bubble could be driven from any part of the world. Or a new larger black market could be founded based on BTC.

The possibilities are endless. All though drive BTC adoption into more people, which auto-deflates the currency. And unlike conventional PhD "wisdom", deflation is good for currency holders...

Timzim103

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It's entertaining to watch the price climb. This time, I'm holding and will buy more when/if it crashes. I like to think I'm saving up for a sexy new Jeep but I'll probably end up buying a used mini-van. (need a kidmobile)

Zangelbert Bingledack

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There are quite a large number of possible drivers here. It could be almost all Second Market, with a dash of China. It could be almost all a few people's foreknowledge of IMF haircuts, with a dash of China. It could be just that some whales were holding off until SR got shutdown. There are so many big reasons. China is definitely at least a sizable chunk of it, though.

Herp

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This whole move started since Second Market entered the game. They can drive up price to 1k in no time as they have quite a few billionaire clients buying whatever they pitch and Bitcoin is their featured top investment right now.

I find it surprising people don't get it and come up with various crap explanations like "Silk road" this or "US gov shutdown" that.

Angry birds market cap sits at $7 billion. A revolutionary payment system like Bitcoin should sit somewhere at $200 billion atm and it barely touched $2billion. Bitcoin is hugely undervalued. Price should be somewhere around $20k/Bitcoin.

CEG5952

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Buy and sell bitcoins,

Quote from: nobbynobbynoob on October 21, 2013, 01:29:20 PM

Quote from: MAbtc on October 21, 2013, 12:20:37 PM

This has pretty much been my feeling, too. I don't think there is much adoption or real support backing this rally -- just wild speculation in the Chinese market. When the bottom falls out there, it'll fall out here too, I think. Who the hell knows what's going on over there, though?

Indeed, and what is so fun is that that could happen a week from now... or it might take more than five years. Grin

We just don't know, and we are mostly in the dark.

My personal opinion is that bitcoin is not particularly overpriced or bubblish right now, but if it suddenly decides to quintuple or more on little real news...

btcchina chart looks parabolic to me..... it's bubble time! Cheesy

nobbynobbynoob

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Annuit cœptis humanae libertas

Quote from: MAbtc on October 21, 2013, 12:20:37 PM

This has pretty much been my feeling, too. I don't think there is much adoption or real support backing this rally -- just wild speculation in the Chinese market. When the bottom falls out there, it'll fall out here too, I think. Who the hell knows what's going on over there, though?

Indeed, and what is so fun is that that could happen a week from now... or it might take more than five years. Grin

We just don't know, and we are mostly in the dark.

My personal opinion is that bitcoin is not particularly overpriced or bubblish right now, but if it suddenly decides to quintuple or more on little real news...

MAbtc

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Quote from: windjc on October 21, 2013, 12:17:20 PM

Well at this point China is dragging the markets along with it. It's really in the hands of the Chinese how far this rally goes and how long it lasts. If the Chinese want to take us to 10k cyn they can do that.

But long term this rally is unsupported by anything "real". I'd love for this rally to be occurring on the heels of the announcement of new bitcoin technologies or some larger retailers or Paypal implementation, etc.

Instead we are on a Chinese roller coaster. And trying to predict where it's taking us short term is simply impossible.

This has pretty much been my feeling, too. I don't think there is much adoption or real support backing this rally -- just wild speculation in the Chinese market. When the bottom falls out there, it'll fall out here too, I think. Who the hell knows what's going on over there, though?

Huh

windjc

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Well at this point China is dragging the markets along with it. It's really in the hands of the Chinese how far this rally goes and how long it lasts. If the Chinese want to take us to 10k cyn they can do that.

But long term this rally is unsupported by anything "real". I'd love for this rally to be occurring on the heels of the announcement of new bitcoin technologies or some larger retailers or Paypal implementation, etc.

Instead we are on a Chinese roller coaster. And trying to predict where it's taking us short term is simply impossible.

MAbtc

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Quote from: DoomDumas on October 21, 2013, 12:01:14 PM

I'm wondering.. Maybe it's not that BTC appreciate that much, but maybe more poeples are understanding that the actual fiat-printing-currency system is on the verge of total faillure (currently slowly falling appart).

No. I am quite confident that this is not what is happening, on any level. At all. We're a long ways away from there, I think.

DoomDumas

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Bitcoin

I'm wondering.. Maybe it's not that BTC appreciate that much, but maybe more poeples are understanding that the actual fiat-printing-currency system is on the verge of total faillure (currently slowly falling appart).

Maybe BTC will worth 10k$, but a bread will cost 120$ and we will earn around 300$ by hour of work.

If USD loses value, BTC gains by simple math. Add this to the fast evolution of business, coupled by the fact that less than 1% of the world population really know what BTC is..

Next years will be very very interesting.

Zangelbert Bingledack

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MtGox 1-year chart showing volume bars in USD (keep in mind that MtGox dominance has been dropping in terms of volume as well).

The curve looks a bit steep, similar to the middle of the last bubble rather than the beginning, so we may be in for a sort of half-bubble, where we go up only 5x or so before peaking. Or we might consolidate soon for a while, maybe with some corrections thrown in, and then continue to have an epic melt-up.

Hfleer

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Quote from: BitcoinAshley on October 20, 2013, 05:31:19 PM

There are still SO many people who think parabolic is the only possible shape for price increases. S-shape is a perfectly viable option. And seeing as we aren't at the bottom of the $13-$266 jump, that wasn't parabolic in the sense that most people use the word.

Yes S-shape makes good sense eventually, hadn't thought of that. I've seen it before a few times but have forgotten about it.

RodeoX

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The revolution will be monetized!

I'm not "worried", but I do think a crash of some kind will follow this rise. That is the nature of the game. No worries. Long term we look great right now.

Hfleer

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Quote from: trinaldao on October 20, 2013, 03:26:50 PM

Quote from: nobbynobbynoob on October 20, 2013, 03:08:15 PM

Nope, I don't trade bitcoin for "useless" fiat fraudster paper very often. I do flip altcoins, however. In future speculation I will keep a close eye on the gold price too, because if both bitcoin and gold are exploding versus USD, that is a clear sign of USD collapsing rather than commodities simply bubbling up.

You wouldn't want to buy my cold-stored bitcoin from me anyway because you can buy it on an exchange like Bitstamp or Coinbase for less than 0,1% of the price. Grin

(Put another way, by the time my time comes round to selling BTC en masse, there won't be any need to.)

But for gold it's easy to know whats happening now. Governments colude to keep it down to avoid panic. This baby (printing fiat like there is no tomorrow) will keep working as long as suckers are buying it. So far its the chinese, but there are a lot of other countries buying it to.

Yup printing fiat seems to be working real well for the Government, taxing alone is not going to cover the spending.

Hfleer

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Quote from: trinaldao on October 20, 2013, 02:53:00 PM

So,

Like 150 a day after difficulty goes up, 180 2 days later, heavy volume on MTgOX.

Is this not worrying anyone?

Who is injecting all this money anyway?

Is the ASIC producers in China trying to keep the value up to sell the miners?

It's looking like quite a bubble. And so far there is very little "Technical Analysis" type chart formatiations in the past. Maybe the daytraders are taking over?

We are losing stability here, I think.

Interesting theory about the ASIC producers, i'm not sure it's a viable strategy with all the competition though.

balanghai

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200 Mark is not too far! Shocked

maursader

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Disrupt the banking system!

No matter what the charts say, it's all about supply, demand, support and resistance, right? If there's too much resistance, that $1000/btc price will be a dream.. and $200, a reality. Just my $0.05 (since we don't have pennies in canada anymore!)

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