Topic: SecondMarket CEO: Wall Street Will Put 'Hundreds of Millions' Into Bitcoin - page 2. (Read 4668 times)
December 12, 2013, 10:08:54 AM
It takes time for people to research Bitcoin and learn how to store it, etc. You think people are just going to see the news and know what the hell to do to make a secure wallet? That they even comprehend what Bitcoin is after seeing it in a news article? It takes several weeks at minimum, and the price just rose nearly an order of magnitude. These are seismic wealth increases for holders so they are being sold into, as should be well expected. Do you expect an early adopter to maintain a 90% crypto portfolio, and then a 99% one, without rebalancing!? Until the media hype overpowers that effect, and it does look like this past week may be getting there (meaning a boost a few weeks from now), the price will consolidate.
December 12, 2013, 09:18:24 AM
Are people with a ton of Bitcoin slowly selling theirs, making this a type of Ponzi scheme after all?
http://www.youtube.com/watch?v=7u4F8cpzqao
December 12, 2013, 09:03:22 AM
They are insane and they have trillions.
I love this! Hope you are right
December 12, 2013, 04:15:28 AM
Why isn't the value of Bitcoin going up quickly right now?
People who have recently become surprisingly rich will naturally sell some of their bitcoins. doesn't mean they're not into the project, just balencing things out a bit. As these people get more comfortable with how many bitcoins they own they'll stop selling and the price will start creep up again. I'm guessing that there is a lot of big money waiting on the sidelines for a bottom before they start buying in. Where's the bottom before the next leg up? Who knows.... December 12, 2013, 04:04:11 AM
I think it's funny when people say big investment funds wouldn't put people's money into bitcoin. These are the same people who bought greek debt and collateralised sub-prime mortage products. They are insane and they have trillions.
December 12, 2013, 03:46:45 AM
Are people with a ton of Bitcoin slowly selling theirs, making this a type of Ponzi scheme after all?
what? how selling by early adopters equates ponzi in your mind?
many people who bought cheaper are taking profits when they see the moment is right (before a serious resistance), and that same thing happens in *every* market, why the hell would that be a ponzi? do you even know the definition? December 12, 2013, 03:44:30 AM
Why isn't the value of Bitcoin going up quickly right now?
Bitcoin got 25x more media attention last week than ever before, public awareness is skyrocketing, everyone from Coinbase to BTC-E to Bitpay are saying they are seeing drastic increases in the number of people signing up for their services and investing money in the Bitcoin economy, etc. Yet the value is going down the last couple days?
Are people with a ton of Bitcoin slowly selling theirs, making this a type of Ponzi scheme after all? Or are people simply cashing out already because they are having second thoughts? I am just confused from an economic standpoint as to how a ton of new money can be streaming in, yet prices are going down.
right now as we speak , price is falling but only because of some kind of playing with market.Bitcoin got 25x more media attention last week than ever before, public awareness is skyrocketing, everyone from Coinbase to BTC-E to Bitpay are saying they are seeing drastic increases in the number of people signing up for their services and investing money in the Bitcoin economy, etc. Yet the value is going down the last couple days?
Are people with a ton of Bitcoin slowly selling theirs, making this a type of Ponzi scheme after all? Or are people simply cashing out already because they are having second thoughts? I am just confused from an economic standpoint as to how a ton of new money can be streaming in, yet prices are going down.
We will rise again soon because of fundamentals
December 12, 2013, 03:08:10 AM
Why isn't the value of Bitcoin going up quickly right now?
Bitcoin got 25x more media attention last week than ever before, public awareness is skyrocketing, everyone from Coinbase to BTC-E to Bitpay are saying they are seeing drastic increases in the number of people signing up for their services and investing money in the Bitcoin economy, etc. Yet the value is going down the last couple days?
Are people with a ton of Bitcoin slowly selling theirs, making this a type of Ponzi scheme after all? Or are people simply cashing out already because they are having second thoughts? I am just confused from an economic standpoint as to how a ton of new money can be streaming in, yet prices are going down.
Bitcoin got 25x more media attention last week than ever before, public awareness is skyrocketing, everyone from Coinbase to BTC-E to Bitpay are saying they are seeing drastic increases in the number of people signing up for their services and investing money in the Bitcoin economy, etc. Yet the value is going down the last couple days?
Are people with a ton of Bitcoin slowly selling theirs, making this a type of Ponzi scheme after all? Or are people simply cashing out already because they are having second thoughts? I am just confused from an economic standpoint as to how a ton of new money can be streaming in, yet prices are going down.
December 11, 2013, 09:15:04 PM
I find it hard to believe that any legitimate financial intuition will allow peoples retirement fund to be put into Bitcoins.
I find it hard to believe that you were around during single-digit BTC prices and are not retired on an island somewhere.
the thing you new guys need to understand is that when btc was single digits we actually had to convince ppl that conning someone out of btc was illegal and immoral. that is, it was NOT the same as doing so on eve online or some other video game currency. and there were few legal ways to spend. no gyft no bitpay with 10k merchants. with that perspective you may start to understand why early adopters were not investing 10k usd and early miners were happy to get 2 to 10 bucks per coin.
Yup, those times were a lot different. Plus a fall from $30 to $2, when just months before bitcoin was fractions of a pennies. I mean, you literally could buy thousands for almost nothing. A $1.00 seemed to be where it would finally stabilize at. A good bet to almost double your coins than buying at $2.00.
It is easy to say now when bitcoin is $1000 a coin that I was crazy not to buy in the single digits.
The recent booms were partly because years passed and the government didn't shut it down, it didn't get hacked etc. There were all things to worry about at the time. You sure wouldn't want to throw 10K into it.
Although, I still think the prices right now are unsustainable.
December 11, 2013, 08:52:28 PM
lol, this is coming from 2nd Market CEO, not reliable.
Why?
Wouldn't getting caught in a big fat lie hurt his little fund which has done fantastic so far? It seems like a big risk to take when you are already doing quite well.
Then again... humans! LOL.
I agree, these type of wallstreet guys always meet up with their friends who are also in the same type of business.
His friends are obviously going to ask him about his type of work and show interest in it because the guy just made fortunes with the run to $1000.
Are these other hedge fund guys really going to start putting large portions of their clients money into bitcoins, probably not.
Especially with the price of bitcoin slowly dropping from high of 1200's to now 800's. Doubtful that any of them are going to consider bitcoin a good investment when it was only $13 dollars earlier this year.
Not large portions, but 1-3%? Sure, why not. That's all we need for a huge increase in price.
December 11, 2013, 08:52:08 PM
I find it hard to believe that any legitimate financial intuition will allow peoples retirement fund to be put into Bitcoins.
I find it hard to believe that you were around during single-digit BTC prices and are not retired on an island somewhere.
the thing you new guys need to understand is that when btc was single digits we actually had to convince ppl that conning someone out of btc was illegal and immoral. that is, it was NOT the same as doing so on eve online or some other video game currency. and there were few legal ways to spend. no gyft no bitpay with 10k merchants. with that perspective you may start to understand why early adopters were not investing 10k usd and early miners were happy to get 2 to 10 bucks per coin.
There is a thing called vision.
December 11, 2013, 08:50:24 PM
I find it hard to believe that any legitimate financial intuition will allow peoples retirement fund to be put into Bitcoins.
I find it hard to believe that you were around during single-digit BTC prices and are not retired on an island somewhere.
the thing you new guys need to understand is that when btc was single digits we actually had to convince ppl that conning someone out of btc was illegal and immoral. that is, it was NOT the same as doing so on eve online or some other video game currency. and there were few legal ways to spend. no gyft no bitpay with 10k merchants. with that perspective you may start to understand why early adopters were not investing 10k usd and early miners were happy to get 2 to 10 bucks per coin.
December 11, 2013, 08:47:51 PM
lol, this is coming from 2nd Market CEO, not reliable.
Why?
Wouldn't getting caught in a big fat lie hurt his little fund which has done fantastic so far? It seems like a big risk to take when you are already doing quite well.
Then again... humans! LOL.
I agree, these type of wallstreet guys always meet up with their friends who are also in the same type of business.
His friends are obviously going to ask him about his type of work and show interest in it because the guy just made fortunes with the run to $1000.
Are these other hedge fund guys really going to start putting large portions of their clients money into bitcoins, probably not.
Especially with the price of bitcoin slowly dropping from high of 1200's to now 800's. Doubtful that any of them are going to consider bitcoin a good investment when it was only $13 dollars earlier this year.
December 11, 2013, 08:29:26 PM
lol, this is coming from 2nd Market CEO, not reliable.
Why?
Wouldn't getting caught in a big fat lie hurt his little fund which has done fantastic so far? It seems like a big risk to take when you are already doing quite well.
Then again... humans! LOL.
Well... if it's not true, I would call it a big fat lie! LOL!
He's not hyping. Fidelity clients can invest through Second Market as of today. And some other large funds as well. I think he is being honest about what he is saying. Is he optimistic? Sure, but with the massive influx of funds theyve gotten so far, why shouldnt he be?
You betting against Wall Street coming into Bitcoin? If so, ok, but I'll bet the other side of that.
December 11, 2013, 08:04:11 PM
lol, this is coming from 2nd Market CEO, not reliable.
Why?
Wouldn't getting caught in a big fat lie hurt his little fund which has done fantastic so far? It seems like a big risk to take when you are already doing quite well.
Then again... humans! LOL.
Well... if it's not true, I would call it a big fat lie! LOL!
He's not hyping. Fidelity clients can invest through Second Market as of today. And some other large funds as well. I think he is being honest about what he is saying. Is he optimistic? Sure, but with the massive influx of funds theyve gotten so far, why shouldnt he be?
You betting against Wall Street coming into Bitcoin? If so, ok, but I'll bet the other side of that.
December 11, 2013, 08:02:10 PM
lol, this is coming from 2nd Market CEO, not reliable.
I was wondering where this information was coming from. What is 2nd market and why is it not reliable?
I find it hard to believe that any legitimate financial intuition will allow peoples retirement fund to be put into Bitcoins.
Dude, have you ever stopped and thought that MAYBE, JUST MAYBE the ideas that are in your head that make things about Bitcoin seem "hard to believe" are false ideas? That maybe you are wrong, have been wrong and if you continue to not reevaluate your thoughts, are going to continue to be wrong?
I read that whole thing you wrote about "I would have bought if Bitcoin had gone back to $1". You know what? The REASON it didn't go back to $1 is because everyone wanted it at that price. Just like LTC didnt go back to $1 a couple of months ago. Because everyone wanted it at that price.
To make strong investments you have to be slightly ahead of the curve and your "ideas" limit you from doing that. Its a real shame.
Instead of admitting that you had "false" ideas and make bad decisions because of it, you just cling on to your same old ideas and waste your time on here.
The fact that you can't believe that "any legitimate institution" would allow Bitcoin investments and that you havent heard of Second Market, well, it just shows how little you truly know about BTC.
December 11, 2013, 07:52:08 PM
lol, this is coming from 2nd Market CEO, not reliable.
Why?
Wouldn't getting caught in a big fat lie hurt his little fund which has done fantastic so far? It seems like a big risk to take when you are already doing quite well.
Then again... humans! LOL.
Well... if it's not true, I would call it a big fat lie! LOL!
December 11, 2013, 07:39:05 PM
lol, this is coming from 2nd Market CEO, not reliable.
Why?
Wouldn't getting caught in a big fat lie hurt his little fund which has done fantastic so far? It seems like a big risk to take when you are already doing quite well.
Then again... humans! LOL.
December 11, 2013, 07:34:03 PM
lol, this is coming from 2nd Market CEO, not reliable.
Why?
December 11, 2013, 07:31:18 PM
I find it hard to believe that any legitimate financial intuition will allow peoples retirement fund to be put into Bitcoins.
I find it hard to believe that you were around during single-digit BTC prices and are not retired on an island somewhere.
Jump to: