It's happening! --- 3̶6̶0̶$̶ 4̶5̶4̶$̶ 502$ - page 10.

nwfella

legendary

Activity: 1610

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Well hello there!

Quote from: NotLambchop on November 20, 2014, 02:11:14 PM

Quote from: ?? on ??

...
If Bitcoin hits 100, it will be game over for sure. ...

I doubt it will be "game over." Sure, there might be some weirdness with confirm time if it's a sudden plunge & miners shut down their farms en masse. And it might be "game over" as far as Pinky and the Brain world-domination fantasies that permabulls keep trotting out. But, as long as there are a few guys mining, Bitcoin will serve the purpose for which it was created--small-scale blackmarket commerce. $100/BTC is just about right for that.

If bitcoin even reaches sub $200 level's it is certainly the beginning of the end imho. Once you start having miners literally shutting down their rigs en masse it's only a matter of time until BTC has it's blockchain successfully forked by some unscrupulous player.

We are much closer to Andreas Antonopolous's new book "Why Bitcoin failed" becoming a best seller than most people realize or are willing to admit at this point sadly :/

NotLambchop

sr. member

Activity: 378

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Quote from: cr1776 on November 20, 2014, 03:28:13 PM

...
Many, many, many people. The technology itself is very impressive as are the non-blackmarket uses. It would be useful for those who doubt the uses to do some research and reading on it!

The same FUD has been going on here (and elsewhere) since (at least) fall 2010. "Bitcoin will never hit dollar parity, it is a fad, a ponzi, unfairly distributed, not useful, will crash, won't get miners...etc".

I'm not arguing that the technology isn't impressive. It's a workable, though somewhat Goldbergian solution to a riddle. But a world currency it is not.

Many here don't understand what money is beyond "the evol banksters print it out of thin air and I'm getting screwed!" Economic Luddites who want to unwind centuries of progress and return to some ancap/liber hypothetical ideal that falls apart at the first sight of reality.

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: erre on November 20, 2014, 03:19:02 PM

Quote from: NotLambchop

Does anyone honestly believe otherwise?

Me.
I am honest. I think that satoshi couldn't imagine such an evolution for bitcoin, and couldn't imagine the black market thing.
I sometimes think that he just took this as an experiment, just some more than a joke, and that he in fact lost the private keys for his btc stash... but I never think that he created btc to buy weed online

I was being a bit facetious, what I actually think is pretty dull, and goes like this:
Bitcoin was initially an experiment, a troll on the established notions/preconceptions of what money is. That's what originally drew me in--it was both clever and hilarious, what's not to [geek] love? But he certainly never set out to create dominant currency of the world--that sort of thinking came much later, from the penny stock speculator crowd.

cr1776

legendary

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Quote from: NotLambchop on November 20, 2014, 03:13:54 PM

Quote from: erre on November 20, 2014, 03:01:18 PM

Quote from: NotLambchop on November 20, 2014, 02:11:14 PM

Quote from: ?? on ??

...
If Bitcoin hits 100, it will be game over for sure. ...

I doubt it will be "game over." Sure, there might be some weirdness with confirm time if it's a sudden plunge & miners shut down their farms en masse. And it might be "game over" as far as Pinky and the Brain world-domination fantasies that permabulls keep trotting out. But, as long as there are a few guys mining, Bitcoin will serve the purpose for which it was created--small-scale blackmarket commerce. $100/BTC is just about right for that.

Do you really think satoshi created bitcoin for small-scale blackmarket online commerce?

Does anyone honestly believe otherwise?

Many, many, many people. The technology itself is very impressive as are the non-blackmarket uses. It would be useful for those who doubt the uses to do some research and reading on it!

The same FUD has been going on here (and elsewhere) since (at least) fall 2010. "Bitcoin will never hit dollar parity, it is a fad, a ponzi, unfairly distributed, not useful, will crash, won't get miners...etc".

erre

legendary

Activity: 1680

Merit: 1205

Quote from: NotLambchop

Does anyone honestly believe otherwise?

Me.
I am honest. I think that satoshi couldn't imagine such an evolution for bitcoin, and couldn't imagine the black market thing.
I sometimes think that he just took this as an experiment, just some more than a joke, and that he in fact lost the private keys for his btc stash... but I never think that he created btc to buy weed online

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: erre on November 20, 2014, 03:01:18 PM

Quote from: NotLambchop on November 20, 2014, 02:11:14 PM

Quote from: ?? on ??

...
If Bitcoin hits 100, it will be game over for sure. ...

I doubt it will be "game over." Sure, there might be some weirdness with confirm time if it's a sudden plunge & miners shut down their farms en masse. And it might be "game over" as far as Pinky and the Brain world-domination fantasies that permabulls keep trotting out. But, as long as there are a few guys mining, Bitcoin will serve the purpose for which it was created--small-scale blackmarket commerce. $100/BTC is just about right for that.

Do you really think satoshi created bitcoin for small-scale blackmarket online commerce?

Does anyone honestly believe otherwise?

erre

legendary

Activity: 1680

Merit: 1205

Quote from: NotLambchop on November 20, 2014, 02:11:14 PM

Quote from: ?? on ??

...
If Bitcoin hits 100, it will be game over for sure. ...

I doubt it will be "game over." Sure, there might be some weirdness with confirm time if it's a sudden plunge & miners shut down their farms en masse. And it might be "game over" as far as Pinky and the Brain world-domination fantasies that permabulls keep trotting out. But, as long as there are a few guys mining, Bitcoin will serve the purpose for which it was created--small-scale blackmarket commerce. $100/BTC is just about right for that.

Do you really think satoshi created bitcoin for small-scale blackmarket online commerce?

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: ?? on ??

...
If Bitcoin hits 100, it will be game over for sure. ...

I doubt it will be "game over." Sure, there might be some weirdness with confirm time if it's a sudden plunge & miners shut down their farms en masse. And it might be "game over" as far as Pinky and the Brain world-domination fantasies that permabulls keep trotting out. But, as long as there are a few guys mining, Bitcoin will serve the purpose for which it was created--small-scale blackmarket commerce. $100/BTC is just about right for that.

erre

legendary

Activity: 1680

Merit: 1205

Quote from: ?? on ??

Quote from: thms on November 20, 2014, 01:52:30 PM

I've been telling you noobs, we are going to see 1 BTC < 100USD soon. That's when you must buy. Because after falling to <100USD, it will bounce back to multi thousand dollar value.

I agreed completely until the second part of the last sentence. How delusional can you really get? This is again this flawed idea that another price rise to 1000-ish dollar MUST happen, and that it is a GIVEN fact. Which it is not, as that is simply relying on history and at the same time disregarding any competition out there for Bitcoin. Competition that can be seen as very mature by now, as there are a handful of 2.0 alternatives that are superior to Bitcoin in functionality.

If Bitcoin hits 100, it will be game over for sure. All that remains is a long, painful grind back to 0. The fanboys will remain as bagholders in the long run, only to be confronted with a very sobering reality.

I agree only with the second part of the sentence

So, I suppose we two both agree about the fact that it's really unlikely that btc price remains like that: in a few years btc will success, and so price will go to the moon, or fail, and so it will be worth nothing. Go bitcoin go!

erre

legendary

Activity: 1680

Merit: 1205

Quote from: thms on November 20, 2014, 01:52:30 PM

I've been telling you noobs, we are going to see 1 BTC < 100USD soon. That's when you must buy. Because after falling to <100USD, it will bounce back to multi thousand dollar value.

Why?

thms

sr. member

Activity: 427

Merit: 250

I've been telling you noobs, we are going to see 1 BTC < 100USD soon. That's when you must buy. Because after falling to <100USD, it will bounce back to multi thousand dollar value.

njcarlos

sr. member

Activity: 280

Merit: 250

Quote from: ?? on ??

where's the bottom?

You'll know when we're sideways for 6+ months.

Coinshot

hero member

Activity: 521

Merit: 500

Quote from: Addition on November 19, 2014, 05:29:31 PM

Quote from: Coinshot on November 19, 2014, 05:08:20 PM

It was a big correction, but its getting good support at this level.

It will remain volatile, its still a emerging market. I think it will remain within 300-500 for now.

Pretty wide range Cheesy

but yeah, think you're right! We'll be trading in this range short term (3weeks, my guess). Suits me, I like buying around here Wink

500 looks somewhat high, but when it rallies the momentum is too much so it may go upto that. I think we will remain in this range for this year.

Addition

full member

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Quote from: NotLambchop on November 19, 2014, 11:25:24 AM

Quote from: CoinCidental on November 19, 2014, 11:15:44 AM

Quote from: NotLambchop on November 19, 2014, 10:06:53 AM

^
The point is it ain't happening Undecided

It is Happening, allbeit slower than most btc owners would like but still getting there

There's actually a story behind this gif. It was made when Bitcoin was trying to break 480. It's now trying to break 380.
Not sure about slowly; it's happening, but in the wrong direction.
So ...unhappening?

You funny lambchop Grin

good man!

though Volume is still pretty high compared to rest of the year, so that's kinda still happening.

Addition

full member

Activity: 238

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Quote from: Coinshot on November 19, 2014, 05:08:20 PM

It was a big correction, but its getting good support at this level.

It will remain volatile, its still a emerging market. I think it will remain within 300-500 for now.

Pretty wide range Cheesy

but yeah, think you're right! We'll be trading in this range short term (3weeks, my guess). Suits me, I like buying around here Wink

Coinshot

hero member

Activity: 521

Merit: 500

It was a big correction, but its getting good support at this level.

It will remain volatile, its still a emerging market. I think it will remain within 300-500 for now.

Oldminer

legendary

Activity: 1022

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Please change the OP topic heading. Its now @ $376

thanks

yayayo

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Quote from: leen93 on November 19, 2014, 12:07:39 PM

I guess we'll still see 600$ this year

I don't think this year. More like in the first or second quarter of next year. The new silk road coin auction will lead to some (unreasonable) market fears.

Just be patient and hodl. The rocket must be fueled before ignition. Actually I think it's great to have a period with a bit less extreme volatility, so the bitcoin ecosystem can develop quietly without being pushed by inflated expectations from the maniacs.

ya.ya.yo!

ravenjt

full member

Activity: 215

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Quote from: leen93 on November 19, 2014, 12:07:39 PM

I guess we'll still see 600$ this year

In the past that would have been a pretty reasonable statement, but now it's starting to look quite bullish.
We have been bouncing around in the 350-400 range, with a few outliers (275, 480 etc) for a few months now, since the big September decline, so breaking out to 600 would be quite an event. It would require a growth surge at least as strong as that in May 2014, and probably more akin to November 2013.

That would surely require some news event.

What do you think could trigger that?

leen93

sr. member

Activity: 616

Merit: 250

I guess we'll still see 600$ this year

Topic: It's happening! --- 3̶6̶0̶$̶ 4̶5̶4̶$̶ 502$ - page 10. (Read 36886 times)