Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17034. (Read 26586570 times)
June 09, 2017, 05:47:33 PM
This is what the initial run-up for Bitcoin must have felt like. http://hypecoaster.com
June 09, 2017, 04:08:16 PM
Trust me, it will get there. I wager we will see a $5K floor, yes floor, by the end of 2020. Supported by miners and by true long holders. Bitcoin will be seen as the only sensible crypto and the true value play. The price of bitcoin will of course continue to increase into the future, but likely more slowly over time. I guess we shall see. 99.99% people have yet to even buy some.
All the other shitcoins are supported by nothing but the pumpers and FOMO hype. When all that changes, and it will someday, the ICO market will get fully labeled as 'SCAM MARKET' and the sensible people will never return there again. They can only pull off the mega scam once.
All the other shitcoins are supported by nothing but the pumpers and FOMO hype. When all that changes, and it will someday, the ICO market will get fully labeled as 'SCAM MARKET' and the sensible people will never return there again. They can only pull off the mega scam once.
The supply of bitcoin by the end of 2020 will be at least 18 million BTC. That's 87.5%. The year after that is another block reward halving to 6.25 BTC per block. The year or two after that, another train or rocketship or moon or mars or whatever.
2030 is a much nicer year to forecast, it's in the middle of a block reward cycle and we will have 99% of all bitcoins, so ... bitcoins won't increase at that point (yeah, 1% over the next hundred years) but users will ....
ICO market is going to stick around at least another 2 or 3 years. Fortunes will be made (both by the founders as well as normal participants.) If not ICOs, then the "normal" altcoins that come about just by mining them, airdrops, country coins, business coins, and private coins.
The thing you forget about "sensible people" is that there are "non-sensible" people born every minute, or come into this space. I argue that my estimate of 2 to 3 years is conservative and as long as there are people, as long as they think "so, there's a chance" ... ICOs or some variation of them will continue to exist.
June 09, 2017, 03:42:36 PM
Parabolic != Exponential
Indeed. And logarithmic is the inverse of exponential, not parabolic. My bad for comparing parabolic growth to a log chart.
The chart I posted of Bitstamp's prices since 2015 is indeed exponential, just like compound interest.
June 09, 2017, 03:31:38 PM
I too have felt the sting of unrequited alt profits. Alas, they were not to be. But it still feels bad, man.
June 09, 2017, 02:57:18 PM
Bro, I've been in BTC longer than that chart... if it was truly parabolic my $50K investment in bitcoin wouldve made me a millionaire, not a lame thousand-air
This is slow steady growth, which I'm not complain about at all, I love it actually. But people are claiming that we are due for a huge crash... I mean what?? We haven't even had much fun yet! At least give me dat parabolic move BEFORE we crash and do a 50% retrace
Give me at least $5K/btc
Trust me, it will get there. I wager we will see a $5K floor, yes floor, by the end of 2020. Supported by miners and by true long holders. Bitcoin will be seen as the only sensible crypto and the true value play. The price of bitcoin will of course continue to increase into the future, but likely more slowly over time. I guess we shall see. 99.99% people have yet to even buy some.
All the other shitcoins are supported by nothing but the pumpers and FOMO hype. When all that changes, and it will someday, the ICO market will get fully labeled as 'SCAM MARKET' and the sensible people will never return there again. They can only pull off the mega scam once.
I agree, that's why I'm holding
Even though you assert that you are not complaining, you sure come off as such.
Gosh, maybe your average price per bitcoin is in the $300 area?
That would be $50k x $300 - about 166BTC, which would be about $466k.
It just seems a bit outrageous complaining that such price appreciation is not enough for you, while at the same time you are saying that you are content, but you just want more, and you are comparing your situation to alts and what you could have done, blah blah blah...
It seems to me that the relative security of bitcoin comes at a cost -that it is less volatile than almost all of the other alts, which yeah means less upside volatility...
But, what the fuck, bitcoin still remains amazingly volatile, and there are very few assets that can compare with it, especially if you zoom out over 8 years - Holy fucking shit!!!!!
O.k. sure it is possible that one or more of the alts may displace bitcoin, but I am not prepared to take that bet, even though there continues to be all kinds of hype in the alt coin community, especially about Ethereum. On the other hand, it is surely quite possible that the alts, including ETH could continue to be pumped into the stratesphere in the coming 6 months or longer, and if you believe in such a play, then maybe you should put some money into that. Again, I am not prepared personally to make such a bet, and I am o.k. with living with the consequences that bitcoin may perform a lot less than a number of alts.
June 09, 2017, 02:50:34 PM
I can definitely recommend watching the whole video. Actually, the whole Bitcoin 101 Blackboard Series by James D’Angelo:
https://www.youtube.com/playlist?list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q (A beginner's guide to all things bitcoin)
https://www.youtube.com/playlist?list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q (A beginner's guide to all things bitcoin)
Indeed. When people ask me about Bitcoin it's the first place I send them.
A few years ago I sent people Christmas cards with $5 worth of Bitcoin (smallest amount you could buy at an ATM) enclosed in a paper wallet.
I included three internet links... Satoshi's white paper, the Bitcoin 101 Blackboard Series, and BitcoinTalk.
It may be old now but it still remains valid.
June 09, 2017, 02:42:40 PM
Bro, I've been in BTC longer than that chart... if it was truly parabolic my $50K investment in bitcoin wouldve made me a millionaire, not a lame thousand-air
This is slow steady growth, which I'm not complain about at all, I love it actually. But people are claiming that we are due for a huge crash... I mean what?? We haven't even had much fun yet! At least give me dat parabolic move BEFORE we crash and do a 50% retrace
This is slow steady growth, which I'm not complain about at all, I love it actually. But people are claiming that we are due for a huge crash... I mean what?? We haven't even had much fun yet! At least give me dat parabolic move BEFORE we crash and do a 50% retrace
I've only been into Bitcoin since it had just finally broken out of single digits for good but if you look back to when it was worth less than a penny per coin you'll see that its growth has indeed been and still is parabolic. To really see it, look at the log chart for the last 7 years.
Sure, there was that anomaly back in 2014-5 when it dipped below the ascending line. Look at the log chart before or after that anomaly and you'll see they're both rising at a parabolic rate. That'd why I chose a chart starting in summer of 2015.
If you'd bought in 2012 or early 2013, your $50k investment would have already made you a multi-millionaire.
June 09, 2017, 02:41:54 PM
I can definitely recommend watching the whole video. Actually, the whole Bitcoin 101 Blackboard Series by James D’Angelo:
https://www.youtube.com/playlist?list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q (A beginner's guide to all things bitcoin)
https://www.youtube.com/playlist?list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q (A beginner's guide to all things bitcoin)
Indeed. When people ask me about Bitcoin it's the first place I send them.
A few years ago I sent people Christmas cards with $5 worth of Bitcoin (smallest amount you could buy at an ATM) enclosed in a paper wallet.
I included three internet links... Satoshi's white paper, the Bitcoin 101 Blackboard Series, and BitcoinTalk.
It may be old now but it still remains valid.
June 09, 2017, 02:32:09 PM
Bro, I've been in BTC longer than that chart... if it was truly parabolic my $50K investment in bitcoin wouldve made me a millionaire, not a lame thousand-air
This is slow steady growth, which I'm not complain about at all, I love it actually. But people are claiming that we are due for a huge crash... I mean what?? We haven't even had much fun yet! At least give me dat parabolic move BEFORE we crash and do a 50% retrace
This is slow steady growth, which I'm not complain about at all, I love it actually. But people are claiming that we are due for a huge crash... I mean what?? We haven't even had much fun yet! At least give me dat parabolic move BEFORE we crash and do a 50% retrace
I've only been into Bitcoin since it had just finally broken out of single digits for good but if you look back to when it was worth less than a penny per coin you'll see that its growth has indeed been and still is parabolic. To really see it, look at the log chart for the last 7 years.
Sure, there was that anomaly back in 2014-5 when it dipped below the ascending line. Look at the log chart before or after that anomaly and you'll see they're both rising at a parabolic rate. That'd why I chose a chart starting in summer of 2015.
If you'd bought in 2012 or early 2013, your $50k investment would have already made you a multi-millionaire.
June 09, 2017, 02:10:43 PM
Can recommend watching this oldie:
https://www.youtube.com/watch?v=qHUPPYzzZrI&feature=youtu.be&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q&t=321
https://www.youtube.com/watch?v=qHUPPYzzZrI&feature=youtu.be&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q&t=321
Why not watch the whole thing:
https://www.youtube.com/watch?v=qHUPPYzzZrI&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q&index=16
Because people are impatient. And I linked to the part supporting my argument.
But I can definitely recommend watching the whole video. Actually, the whole Bitcoin 101 Blackboard Series by James D’Angelo:
https://www.youtube.com/playlist?list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q (A beginner's guide to all things bitcoin)
June 09, 2017, 02:10:06 PM
Jimbo, please never ever use charts in linear instead of logarithmic mode. It gives some false sense of proportions.
I used a linear chart specifically because it does show the exponential growth. If I'd used a log chart it would show closer to a straight line.
When people talk about the price rise being parabolic, they are comparing it to linear. Using a log chart assumes parabolic growth.
June 09, 2017, 02:08:25 PM
F@cking ETH. 
Who knew?
Who knew?
June 09, 2017, 02:01:34 PM
Can recommend watching this oldie:
https://www.youtube.com/watch?v=qHUPPYzzZrI&feature=youtu.be&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q&t=321
https://www.youtube.com/watch?v=qHUPPYzzZrI&feature=youtu.be&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q&t=321
Why not watch the whole thing:
https://www.youtube.com/watch?v=qHUPPYzzZrI&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q&index=16
June 09, 2017, 01:57:27 PM
some action plz up or down whatever
Such impatience!!!!
We have been having all kinds of action.. sure you want more and more and more... and no need to worry that it is coming - because currently we are not in an agreeable place - even though sometimes there is a necessity for a little bit of consolidation and even faking outs
June 09, 2017, 01:50:35 PM
Jimbo, please never ever use charts in linear instead of logarithmic mode. It gives some false sense of proportions.
June 09, 2017, 01:47:01 PM
Blockchains can't scale. The market knows that already. No big woop.
Theer are some altcoin projects working on solving this issue. Let's see if they deliver.
Yeah, right.
It's all wonderful in theory, but has to be put to practice in order to understand whether it works.
So, yeah let the transaction volume go up and the spam attacks , and does the theoretical solution still work?
And if such a theoretical solution ends up working so greatly, then why would it not be implemented into bitcoin.
I guess I am in the denial of a problem camp and in that regard, there is no one in bitcoin opposing better solutions for the mere sake of opposition - so if a better solution seems to be technically feasible and then is tested out to be practically feasible, wouldn't such a solution be implemented - except for the obstructionists?
Segwit might be an example of this superior technical solution, and with the passage of time, we will see whether, if by hook or by crook, segwit ends up being implemented, maybe in spite of some seemingly strong and fakery political opposition to it on likely non-technical fakery grounds. In other words, seg wit seems pretty fucking likely to be implemented, even though it may take a bit more time, because it is largely viewed as a pretty major solution to the scaling issue that currently seems to exist - including having some ability to address spam issues, too.
June 09, 2017, 01:40:47 PM
Bro, I've been in BTC longer than that chart... if it was truly parabolic my $50K investment in bitcoin wouldve made me a millionaire, not a lame thousand-air
This is slow steady growth, which I'm not complain about at all, I love it actually. But people are claiming that we are due for a huge crash... I mean what?? We haven't even had much fun yet! At least give me dat parabolic move BEFORE we crash and do a 50% retrace
Give me at least $5K/btc
Trust me, it will get there. I wager we will see a $5K floor, yes floor, by the end of 2020. Supported by miners and by true long holders. Bitcoin will be seen as the only sensible crypto and the true value play. The price of bitcoin will of course continue to increase into the future, but likely more slowly over time. I guess we shall see. 99.99% people have yet to even buy some.
All the other shitcoins are supported by nothing but the pumpers and FOMO hype. When all that changes, and it will someday, the ICO market will get fully labeled as 'SCAM MARKET' and the sensible people will never return there again. They can only pull off the mega scam once.
I agree, that's why I'm holding
June 09, 2017, 01:39:34 PM
New ATH later today - so nice
I think its actually sideways... but who knows!?? Anything might be possible! (all that money that left UK again from their "Lira" ... needs to find their place somewhere!)
This old neckbeard comes out of his elderly mothers basement a few times a day to make statements of ZERO substance. All you do is post memes to communicate; its obvious that you're a home-schooled idiot.
Go back to your basement, troll!
June 09, 2017, 01:33:32 PM
Give me at least $5K/btc
Trust me, it will get there. I wager we will see a $5K floor, yes floor, by the end of 2020. Supported by miners and by true long holders. Bitcoin will be seen as the only sensible crypto and the true value play. The price of bitcoin will of course continue to increase into the future, but likely more slowly over time. I guess we shall see. 99.99% people have yet to even buy some. [...]You seem to contradict yourself. If you believe what you are saying, we haven't reached the vertical part of the S-curve yet.
Can recommend watching this oldie:
https://www.youtube.com/watch?v=qHUPPYzzZrI&feature=youtu.be&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q&t=321
June 09, 2017, 12:53:28 PM
This has been an impressive rebound indeed. The market sentiment proved to be more resiliently bullish than I had expected. I was expecting the correction from $2650 to drop down around the $1500 level. I am back on board the train for now since the market was showing impressive signs of resistance around the $2000 level. The rebound from $1810 to current levels ($2325) will further instill a bullish sentiment with most sane investors/traders, which will springboard us to new all time highs.
I expect new all time highs in a matter of a few weeks (or more likely less). But how high will we go in the near term?
At this point... I see reaching $3,000 as effectively being guaranteed to happen soon.
I see $3,500 being a likely possibility too.
Things starts to get murky for me at $3,500+ though. IMO, we are sure to see another correction in the $3,500 to $4,750 range... and it will be an even bigger correction than we have seen the past few days (over $1,000). At that point investors that got in as little as 2 weeks ago will be seeing a 75%+ increase on their investments, and investors that got in a year ago... an impressive 700%+ in about a year.
I think numbers like $5,000+ are unrealistic in the near term. Too many people will be taking profits before we see $5k. We need more buyers at $2,000+ before enough hodlers can be conceived to take us above $5k. The longer the price can stay above $2k without bubbling, the more likely it is that we reach the upper end of my speculation range, which is $5,000 in the bulliest of bull markets.
I expect new all time highs in a matter of a few weeks (or more likely less). But how high will we go in the near term?
At this point... I see reaching $3,000 as effectively being guaranteed to happen soon.
I see $3,500 being a likely possibility too.
Things starts to get murky for me at $3,500+ though. IMO, we are sure to see another correction in the $3,500 to $4,750 range... and it will be an even bigger correction than we have seen the past few days (over $1,000). At that point investors that got in as little as 2 weeks ago will be seeing a 75%+ increase on their investments, and investors that got in a year ago... an impressive 700%+ in about a year.
I think numbers like $5,000+ are unrealistic in the near term. Too many people will be taking profits before we see $5k. We need more buyers at $2,000+ before enough hodlers can be conceived to take us above $5k. The longer the price can stay above $2k without bubbling, the more likely it is that we reach the upper end of my speculation range, which is $5,000 in the bulliest of bull markets.
So far things are going about how I expected. We already reached the new all time highs, and it only took about a week. There was a bit more resistance at $2900 than I had expected, but it looks like we have already recovered from the bearishness. Barring some horrible news, then I think we are upwards and onwards to $3k+ in the next week. The market will recover faster and faster with each bear trap that passes.
I think the only thing holding us back now is that it is towards the end of the week and the infamous "weekend dip" is at play. I don't think we will see much blood this weekend though as the overall sentiment is still bullish, and I expect that we will be mostly sideways until Monday.
I think that some time next week we will see the Bitcoin value go over $3k. I expect the value will get somewhere in between $3k and $3.5k over the next few weeks, then I am expecting a decent sized correction. The reason I don't think we will go much higher than $3.5k in the near term is in my last post in this thread, quoted above.
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