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Topic: Taking a step back - page 3. (Read 3256 times)

legendary
Activity: 1106
Merit: 1001
March 27, 2013, 10:57:10 AM
#12
Would love to see how you came to these numbers and ultimately your conclusion. Please lay that out for me with as many facts as possible because I've thus far failed to see what has caused a 500% move in valuation in less than 3 months. Burden of proof doesn't fall on me, I'm just asking for proof, everyone else is making the claim that this is all sensible movement.

Actually, since a BTC is currently selling for $88.40, the burden of proof to show why that shouldn't be so very distinctly rests on you  Grin
hero member
Activity: 518
Merit: 500
March 27, 2013, 10:54:53 AM
#11
Would love to see how you came to these numbers and ultimately your conclusion. Please lay that out for me with as many facts as possible because I've thus far failed to see what has caused a 500% move in valuation in less than 3 months. Burden of proof doesn't fall on me, I'm just asking for proof, everyone else is making the claim that this is all sensible movement.

I'm curious what you would consider proof.  I mean, you must not be reading the same forum I am because there is proof all over. No one will waste their time with you until you lay out what you are expecting.
full member
Activity: 182
Merit: 106
March 27, 2013, 10:49:32 AM
#10
Would love to see how you came to these numbers and ultimately your conclusion. Please lay that out for me with as many facts as possible because I've thus far failed to see what has caused a 500% move in valuation in less than 3 months. Burden of proof doesn't fall on me, I'm just asking for proof, everyone else is making the claim that this is all sensible movement.
legendary
Activity: 1106
Merit: 1001
March 27, 2013, 10:46:40 AM
#9
Oh, come on, don't let the facts get in the way of a good religion. Bitcoin is useless except to buy drugs and weapons on SR and maybe to do a spot of money laundering. The real value of a BTC is between $1 and $1.5  Grin
Couldn't that be said of Bitcoin speculators? They think BTC is embarking on global acceptance and is going to save the world in less than a month, and for these reasons it should immediately be valued at $10000/coin.

Global acceptance would put each BTC at roughly 1,000,000, not 10,000.

1% of Bitcoin's potential as either a currency, a store of value or a payment processor (the three sides of the Bitcoin, so to speak), puts us easily around $10,000, so from that perspective, we're correcting upwards.
full member
Activity: 182
Merit: 106
March 27, 2013, 10:43:49 AM
#8
Oh, come on, don't let the facts get in the way of a good religion. Bitcoin is useless except to buy drugs and weapons on SR and maybe to do a spot of money laundering. The real value of a BTC is between $1 and $1.5  Grin
Couldn't that be said of Bitcoin speculators? They think BTC is embarking on global acceptance and is going to save the world in less than a month, and for these reasons it should immediately be valued at $10000/coin.

The biggest claims to fame at this point are Wordpress (an open source CMS that most none-techies don't know or care about), and Namecheap (a niche registrar -- would be understandable if GoDaddy took BTC). Plus a handful of fly by night service providers and everyone is equating it to global acceptance.
hero member
Activity: 811
Merit: 1000
Web Developer
March 27, 2013, 10:42:24 AM
#7
We're going down to $5 again soon.  No one wants these stupid things.  Just in it for the paper. Roll Eyes
legendary
Activity: 1106
Merit: 1001
March 27, 2013, 10:41:10 AM
#6
Most definitely current super-growth will also peak out at some yet unknown value (triple digits, in my opinion), then gradually fallback to a lower level (above 32, but lower than 100), recuperate for a year or two, then a third huge wave would start, with a bottom of this year's high, whatever it will be.

Certainly below $32. There is no basis for a genuine price rise to $32. Bitcoin is not used much, except for speculation.


http://bitcoinmagazine.com/bitpay-exceeds-2-million-in-transactions-month-to-date/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+BitcoinMagazine+(Bitcoin+Magazine)

 Roll Eyes

Oh, come on, don't let the facts get in the way of a good religion. Bitcoin is useless except to buy drugs and weapons on SR and maybe to do a spot of money laundering. The real value of a BTC is between $1 and $1.5  Grin
full member
Activity: 280
Merit: 102
March 27, 2013, 10:38:14 AM
#5
Most definitely current super-growth will also peak out at some yet unknown value (triple digits, in my opinion), then gradually fallback to a lower level (above 32, but lower than 100), recuperate for a year or two, then a third huge wave would start, with a bottom of this year's high, whatever it will be.

Certainly below $32. There is no basis for a genuine price rise to $32. Bitcoin is not used much, except for speculation.


http://bitcoinmagazine.com/bitpay-exceeds-2-million-in-transactions-month-to-date/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+BitcoinMagazine+(Bitcoin+Magazine)

 Roll Eyes
hero member
Activity: 695
Merit: 500
March 27, 2013, 10:34:31 AM
#4
Most definitely current super-growth will also peak out at some yet unknown value (triple digits, in my opinion), then gradually fallback to a lower level (above 32, but lower than 100), recuperate for a year or two, then a third huge wave would start, with a bottom of this year's high, whatever it will be.

Certainly below $32. There is no basis for a genuine price rise to $32. Bitcoin is not used much, except for speculation.

As nobody can possibly predict what the current peak may be, the best possible speculation strategy still is "buy some when you can, buy lots when the price goes down".

You mean, sell all now, buy back not before half a year has passed and the price has stabilized. Whether it will stabilize at a single or double digit figure, nobody knows yet.

How much money do you think Wordpress or Namecheap takes in through their new bitcoin acceptance? Do you think the figures are in any reasonable relation to the current mountain of speculation money? Of course they aren't. Bitcoin is still not used much for any real economy purpose.

The price will continue to rise as long as enough new "speculators" stream into the market and part with their money. As soon as they are all in, the price will drop like a stone, too fast for practically all of them to sell at a gain. Mt.Gox will drop dead for the most part, as usual in extreme market movements.
legendary
Activity: 1946
Merit: 1006
Bitcoin / Crypto mining Hardware.
legendary
Activity: 1176
Merit: 1010
Borsche
March 27, 2013, 06:41:46 AM
#2
Most definitely current super-growth will also peak out at some yet unknown value (triple digits, in my opinion), then gradually fallback to a lower level (above 32, but lower than 100), recuperate for a year or two, then a third huge wave would start, with a bottom of this year's high, whatever it will be.

As nobody can possibly predict what the current peak may be, the best possible speculation strategy still is "buy some when you can, buy lots when the price goes down".
hero member
Activity: 699
Merit: 500
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