Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 25207. (Read 26608818 times)

They were posted from the mid-300's, multiple times.

So you would agree the value of bitcoin could be  valued at $1 or $1 million.

Do you think buying 2 pizzas for 10,000 bitcoin was a ripoff or a bargain?  Those who bought at $1100 was that cheap?  

If there was not exchanges (China exchanges, btc-e, bitstamp, etc)  that DO "peg" btc to a fixed value (like the USD or Euro) btc price would still be in Limbo.  And these exchanges are only in for the money to be made.

The problem is the traders and speculators who think they can buy it like it is a lottery ticket and make profit if it goes up from the price they bought it from.

We are not at the "most people" phase. These violent swings and the uncertainty drive coin distribution.
You can subscribe to the theory that the manipulators and speculators always win, I don't.
For every winner there needs to be a loser. I doubt this is just small time speculators losing out. It will be both whales and smaller fish that win and lose

We're currently in a bubble for "users" though.

Companies with millions of users are bought up, with absolutely no idea how to monetize them.

Snapchat anyone? Value in the billions, absolutely ZERO revenue.

A lot of these companies are just VCs and investors playing hot potato, I invest $25m in the hope that somewhere further down the road a bigger fool will inject $250m and my stake is worth more than I paid. It's nearly a ponzi

A few top predators tend to keep an eco-system healthy; a sea full of sharks isn't going to be that attractive to most people.

1 BTC = 1 BTC

More than anything I expect these high volume swings to attract even more speculators ultimately increasing adoption

I still don't really feel like we've had blood in the streets.

No one posted a suicide hotline on r/bitcoin yet

They are obviously not trying to 'destroy' BTC (the manWhaleBear could have done it in 5mins yesterday) but are trading for profit.  As much as I would like to live in a fairer, more equitable and co-operative world, daytraders and speculators are part of the landscape. They will keep taking short-term profits.

As someone said here (hypheymickey?)....if you want rainbows, unicorns and happy-endings get over to the securities forum.

Back to the Under-300-World

Explanation

You are talking garbledy gook regarding some necessity to "peg" bitcoin.... that is just some distracting mainstream talking point that is used to confuse people regarding the value of it NOT being pegged.  The value of bitcoin is the users and the network and the infrastructure.... which is all still building and growing.

And i will keep repeating it as long as these idiots are trying to destroy Bitcoin.

I believe he is saying whatsapp is like investing in combustible fire

Just comparing the users of whatsapp are worth money to advertisers.

The users for bitcoin must increase from its current base to spread to survive.

Then comes the problem will value increase?  and why?  because of limited availability like a commodity?  which is opposite of what it was intended to be a medium for transactions with lower fees.

In the end I think btc needs to be pegged to some definite value to be worth anything.  Other than that the Fed is correct that it can only be a "storage" mechanism.

Yes, you have been warning us since $680, and people have been sending you PMs asking you advice about what to do... so you are here to warn us to Cut YOUR LOOSE!!!!!!

Traders taking their shitty profit and dumping on new users. These traders will soon be here wondering why the price just won't go up.

I like that quote (in the long term we will all be dead), though some people may NOT like it b/c it is attributed to Keynes.

Regarding what happens in the meanwhile:

A person can be a bit of a flip flopper, and a trader in the short term - but still be driven by either being a long-term bear or a long term bull... and long term can be shorter than the term of a person's life.

I characterize myself as a long-term bull for similar reasons to which JimboToronto referred, and that is the various ongoing BTC infrastructure investments that are being made.

Surely, I believe that in the short term BTC has remained one of these investment areas that needs to be monitored on an ongoing basis because it has been proven to be manipulated and volatile, and probably engaging in ongoing monitoring is NOT a healthy lifestyle - however, it remains my belief that as the market cap goes up, some of the volatility and manipulations should become less (or at least become much more costly to attempt to achieve). 

And, if bitcoin is able to achieve a sufficiently large market cap in the $500 billion plus arena, then at that point, maybe we will NOT need to monitor its price or to question its long-term survival with so much frequency b/c it will become more stable. 

By the way, a $500 billion market cap would put BTC prices at about 100x their current rate of about $32k per coin.  Nonetheless, a $5trillion market cap would be even more stable and more useful... which is at about $320k per coin... yet would this be long term?  Either of these are feasibly achievable in less than 5 years, but maybe more practically achievable in a "longer term." 

Maybe a question remains, as you suggested, whether the length of "long term" will be so long as to cause the death of bitcoin or to cause the death of the rest of us who are currently participating in this thread?

Be careful it could be that....