Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28749. (Read 26623469 times)

Date Registered:   August 02, 2011, 06:04:41 PM
Total time logged in: 106 days, 13 hours and 42 minutes.

Extrapolating against a factor of complex or questionable relationship to the dependent variable is a fairly weak case.  That's why I prefer to extrapolate on the basis of the moving average over the number of active wallets in the past 24 hours.  This is a sound number, and the dependency relationship is adequately explained by metcalfe's law.  The mechanisms of  value growth are more directly understood in the latter case.

Mooncake... Is your point that people could gravitate over to an IMF -type coint.. yeah right.. no one is really going to have confidence in any government sponsored coin... so they would definitely have to be manipulative,  tricky and coercive in order to get people to adopt it.. but NO real people are really gonna trust it.. so bitcoin will still win over some kind of government sponsored alt coin.

YOU are still making sense though.. .Just dont fall asleep on the SELL, SELL, SELL button - b/c then we will all be in trouble.   

Even though you are all over the place with your prediction, I am feeling it to some extent.  My ranges would have been a little more narrow... but generally an upward trajectory.. I doubt that we are going to have as many crazy ass wild swings once bitcoin is more established and once it has a larger market cap... but we may be in for a few heavy duty challenges that will truly attempt to undermine the whole thing, along with prices going down to accompany such attacks on bitcoin.

Actually, I agree with some kind of a priceline similar to the graph that you provided, and I suppose my long-term bullish sentiment regarding bitcoin is why I got in when and how I did. 

I had heard about bitcoin, but I had NOT really given it very much thought, so I did NOT really know details. 

Then in about early to mid November 2013, I had gotten into an investment and quasi-political discussion with someone who had bought about 60 or so bitcoins when the price was $30.  He was bragging to some extent about how smart of an investment bitcoin was, and that I needed to hedge against the dollar.  Actually, some of his understandings about investments seemed to be misplaced but he was very passionate about bitcoin.  I knew that my current investment portfolio was in need of hedging regarding the dollar.. 

While he continued to brag about that the fact that bitcoin had gone up so much that it was going to continue to go up.  I certainly took those kinds of claims with a grain of salt b/c I have this sense that if something has been going up a lot, then that may NOT be a good time to invest in that particular asset class. 

Therefore, I began to read up on bitcoin over the next couple of weeks.. while the price was continuing to go up.  That is why I ended up buying in the end of November, but I was convinced that the fundamentals of bitcoin was making it a good investment from the materials I had been reading, but I was NOT necessarily convinced that it would be a good short-term investment.. in the end of November 2013...   

That is why I started my exploration of BTC with only $1,500 off of localbitcoins.com, which at the time was about 1.24 BTC... and little by little from there on.. even though I had more than $20K that I could have invested, I did NOT want to put in my total fiat at that time.... b/c at that point, I was still trying to learn about the buying and selling vehicles process, as well... and I was skeptical about getting into something too heavily that had just had an amazing run in November 2013.

Maybe as soon as one or two weeks, we will be in the $700 territory, again... .. but yes it is possible that we could linger in these lower numbers for weeks or even months.. due to the little amount of money that is needed to manipulate such a segment with such a small market cap... BTC is only at 7 billion currently... and probably less than 10% of that is being traded or otherwise actively used.

It may or may not be planned. At current moment, unplanned seems more likely.

It means ASIC and non-ASIC are able to mine, thus encouraging decentralisation.

Slower confirmation poses a problem to the support of transaction volume.

The only point I agree to. Imagine today IMF announces its cryptocurrency and all the governments support it, many bitcoin use cases like remittance will be irrelevant. A few like inflation-resistance will still be relevant though.

am gonna go have a few more beers, puke and then hit the hay, Can't wait for monday morning! LOL ohhh ya

Lifes good!
you only live once

yadi yadi ada

buy som fucking bitcoin!

 

People are drun.k and tired in North America, we will go to sleep soon and people are waking up in Asia, they will take over


I understand that you think it will still go down, I disagree

rapidly vanishing supply now. looks like an uptrend for at least 6 hours

 

Everybody know's that it's a strong buy signal when adamstgbit becomes an alcoholic because of the depression he gets from HODLing when price is dropping

A 5MVA facility can be engineered quite easily.

The largest primary service available where I work is 6MVA.

I would say a 10MVA facility would be what your talking about...upper level government approvals would be required to get a facility of that size off the ground since transmission voltages would be required.

lol so drunk can hardly type

BUY BUY BUY
 

amen brother

all i can say is bitcoin is a crazy bull and its Up and Down CRAAAZzzzy Dride but the Long Term is very bullish,

could be next year its 250 then the next 3000

could 5000
could be 100,000 in 3 years

lik it could be 98$ in 3 years then make a crazy comeback in 2020 and start a 12 year bull run to 1,000,000$ a coin,....

no one knows but most people agree butcoin long term is up up up

asic-resistance is nonsense and any coin touting it will not succeed.

the massive hashrate of the Bitcoin network on ASIC devices is key. If financial entities and professional mining firms are to arise it would be insane for them to be based on hodge-podge GPU mining. ASICs create a slick, powerful design and are already creating a market with good competition, and mining power is truly being dispersed worldwide.  (The cost of saboutauge goes up and up, including the inability to covertly do it because of the huge power draws required making it easy to pinpoint the greater mining firms in a few years from now.

It would be stupid at this point to build a 50-million-dollar, 5,000kW facility in order to attempt to overthrow the blockchain.  A year ago that would have been a real possibility

I think that such a succession will NOT be planned, as your hypothetical seems to suggest; however, I think that we would see it coming in such a way that we would be able to transfer our BTC assets from BTC into the new coin... without taking too heavy of a beating.. unless we wait too long before we were to accept such transition that ends up being inevitable .. and some people see the writing on the wall early and others are more difficult to convince.. and still have their my space accounts...