"In the past month, the value has tenfolded.
In the past three months, the value has hundredfolded.
In the past fourteen months, the value has more than thousandfolded".
'Nuff said
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Topic: Keep it real now the investors are coming onboard - page 2. (Read 5681 times)
"In the past month, the value has tenfolded.
In the past three months, the value has hundredfolded.
In the past fourteen months, the value has more than thousandfolded".
'Nuff said
Paging Synaptic to this post
All these infernal speculators and none of them ever consider love and passion for a project as a driving force.
I'd say that's a driving force - hope. People want to believe in something.
I'd say that's a driving force - hope. People want to believe in something.
The 'love' got us into bitcoins, but it does not set the price. I got burned a few times with the thought that selling was treasonous to the community or my own values. But I hardened up. NO profitable investor will recommend you fall in love with an asset and CERTAINLY not a price!
send funds home without WesternUnion or whatever.
Interesting... if they could convert BTC to Zimbabwe dollars in the real.
Bitcoin is the Linux of currencies.... It's reasonable to assume that Bitcoin will eventually obtain a market share of currency similar to the market share Linux enjoys in the operating system market.
Worth quoting again, Billyjoeallen
yes but the chart analysis depends on mass psychology...(looks like math but is the analytic result of marketpsycology)
so the only influence are the media and the forum (what is not always positive)
and the more people analize, the more predictable is the course.
so the only influence are the media and the forum (what is not always positive)
and the more people analize, the more predictable is the course.
I always have had a soft spot for game theory, math and crypto - always seemed like an odd combination of interests until there was bitcoin
yes but the chart analysis depends on mass psychology...(looks like math but is the analytic result of marketpsycology)
so the only influence are the media and the forum (what is not always positive)
and the more people analize, the more predictable is the course.
so the only influence are the media and the forum (what is not always positive)
and the more people analize, the more predictable is the course.
That's what I find striking now about reading the grassroots opinion from the new investors and more mainstream media - they care and look at the price as a source of data, when really it is a reflector of data. Thus, the market looking into itself can find no new knowledge.
You figured out why chartism doesn't work. Now just try to explain that to all the guys staring at the charts babbling about reading the future out of it.
Indeed. Charts can be quite useful and we CAN pull a lot of good information from them, but it's always important to remember that, above all, charts are just a way of looking at data and the data does not drive itself. Data is driven by behavior and to understand the market - to really truly understand it - you need to understand the behavior. I've linked to charts in the past to back up my optimism but those charts merely represent the data which is the result of the behaviors that actually drive my optimism. Charts only show data and they can be manipulated to see whatever you want to see; only when they are used to express an underlying truth are they useful.
Bitcoin is the Linux of currencies. it is developed by amateurs and professionals who are working pro bono because they believe in the project, because they are excited about the project, and because the
It's reasonable to assume that Bitcoin will eventually obtain a market share of currency similar to the market share Linux enjoys in the operating system market.
It's reasonable to assume that Bitcoin will eventually obtain a market share of currency similar to the market share Linux enjoys in the operating system market.
http://falkvinge.net/2011/05/29/why-im-putting-all-my-savings-into-bitcoin/ and subsequent articles seems to be the origin point of those "drivers."
"In the past month, the value has tenfolded.
In the past three months, the value has hundredfolded.
In the past fourteen months, the value has more than thousandfolded".
'Nuff said
Haha I'm going to use that next time someone tries to compare the bitcoin network to 'folding @ home'.
http://falkvinge.net/2011/05/29/why-im-putting-all-my-savings-into-bitcoin/ and subsequent articles seems to be the origin point of those "drivers."
"In the past month, the value has tenfolded.
In the past three months, the value has hundredfolded.
In the past fourteen months, the value has more than thousandfolded".
'Nuff said
I've read a few articles saying the driving forces between value increase have been:
- international trade,
- illegal trade
- merchant use
- speculation
- international trade,
- illegal trade
- merchant use
- speculation
http://falkvinge.net/2011/05/29/why-im-putting-all-my-savings-into-bitcoin/ and subsequent articles seems to be the origin point of those "drivers."
That's what I find striking now about reading the grassroots opinion from the new investors and more mainstream media - they care and look at the price as a source of data, when really it is a reflector of data. Thus, the market looking into itself can find no new knowledge.
You figured out why chartism doesn't work. Now just try to explain that to all the guys staring at the charts babbling about reading the future out of it.
I've read a few articles saying the driving forces between value increase have been:
- international trade,
- illegal trade
- merchant use
- speculation
Well hang on! This is completely forgetting about why I personnally bought a load of Bitcoins - I love it.
All these infernal speculators and none of them ever consider love and passion for a project as a driving force.
I'd say that's a driving force - hope. People want to believe in something.
That's the first thing.
The second thing I see missed in these analyses is personal utility. A migrant worker can send funds home without WesternUnion or whatever. Travelers a no longer reliant on the VISA & Mastercard ATM networks, travelers cheques or cash. Paypal users... well we all know about that.
Love and hope I think can drive BC price to any level, it just depends on how brave people are feeling. If a law is passed somehow destroying it in one country, do people soldier on?
And that's the difference until now - was that crazy bubble spike pure speculation? I don't think so, the price that lead to it I don't think was.
That's what I find striking now about reading the grassroots opinion from the new investors and more mainstream media - they care and look at the price as a source of data, when really it is a reflector of data. Thus, the market looking into itself can find no new knowledge. To that end Bitcoin has really made the woes of capitalism clear. They are so obsessed with greed they can't see see the humanity behind the price.
When I read the news that BC was 200x more now I should have been unreactive. Instead my eyes spun like fruit machines. Very enlightening.
- international trade,
- illegal trade
- merchant use
- speculation
Well hang on! This is completely forgetting about why I personnally bought a load of Bitcoins - I love it.
All these infernal speculators and none of them ever consider love and passion for a project as a driving force.
I'd say that's a driving force - hope. People want to believe in something.
That's the first thing.
The second thing I see missed in these analyses is personal utility. A migrant worker can send funds home without WesternUnion or whatever. Travelers a no longer reliant on the VISA & Mastercard ATM networks, travelers cheques or cash. Paypal users... well we all know about that.
Love and hope I think can drive BC price to any level, it just depends on how brave people are feeling. If a law is passed somehow destroying it in one country, do people soldier on?
And that's the difference until now - was that crazy bubble spike pure speculation? I don't think so, the price that lead to it I don't think was.
That's what I find striking now about reading the grassroots opinion from the new investors and more mainstream media - they care and look at the price as a source of data, when really it is a reflector of data. Thus, the market looking into itself can find no new knowledge. To that end Bitcoin has really made the woes of capitalism clear. They are so obsessed with greed they can't see see the humanity behind the price.
When I read the news that BC was 200x more now I should have been unreactive. Instead my eyes spun like fruit machines. Very enlightening.
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