Where do you see the BTC-USD exchange rate in month? - page 2.

rezin777

full member

Activity: 154

Merit: 100

Quote from: steelhouse on April 06, 2011, 04:48:35 PM

No offense but bitcoin is not backed by anything. There is no government forcing its use. How can bitcoin go to anywhere but to zero? What would be exciting if a country adopted it for its currency.

I consider bitcoin to be commodity money in a way. It derives value from it's properties, which are quite useful. As long as there are like-minded people, it will have value.

What would be exiting is if all states were to suddenly disappear! Cheesy

eMansipater

sr. member

Activity: 294

Merit: 273

Quote from: steelhouse on April 06, 2011, 04:48:35 PM

No offense but bitcoin is not backed by anything. There is no government forcing its use. How can bitcoin go to anywhere but to zero? What would be exciting if a country adopted it for its currency.

BitCoin is backed by the community of people who value it and accept it for goods and services. As long as that community exists, bitcoins will be worth something. Earlier this week the community successfully absorbed a 30,000+ BTC selloff and had prices back to the pre-sell levels within 48 hours--I'd say the community is doing a pretty darn good job of backing the bitcoin.

BitterTea

sr. member

Activity: 294

Merit: 252

Quote from: steelhouse on April 06, 2011, 04:48:35 PM

No offense but bitcoin is not backed by anything.

Neither is gold.

Quote from: steelhouse on April 06, 2011, 04:48:35 PM

There is no government forcing its use.

You consider this a bad thing?

Quote from: steelhouse on April 06, 2011, 04:48:35 PM

How can bitcoin go to anywhere but to zero?

Because Bitcoin is becoming more popular, while U.S. government continues to debase the dollar.

steelhouse

hero member

Activity: 717

Merit: 501

No offense but bitcoin is not backed by anything. There is no government forcing its use. How can bitcoin go to anywhere but to zero? What would be exciting if a country adopted it for its currency.

Megawatt

newbie

Activity: 17

Merit: 0

I'll throw a good business idea: the best way for such polls will be bets with bitcoins.

deadlizard

member

Activity: 112

Merit: 11

the rsi just moved into oversold territory and the candlestick broke out of the Bollinger band
it could still fall to 0.5 but I suspect the turnaround will be dramatic. I'm still adding to my position so to speak Wink

http://bitcoincharts.com/charts/mtgoxUSD#rg90ztgSzbgBzm1g10zm2g25zxzi1gRSI

if you care about the exchange rate keep an eye on http://blog.bitcoinwatch.com/

stakhanov

full member

Activity: 175

Merit: 101

Yeah, I'm just like you, I don't think the exchange rate is that important, except for the mood Grin

But I still think it's interesting to see what people think about its future evolution.

kiba

legendary

Activity: 980

Merit: 1020

Don't also forget that the community grown in the last two month. This is good for the fundamental.

kiba

legendary

Activity: 980

Merit: 1020

The price of bitcoin influences my mood but not my outlook.

In my opinion, the price of bitcoin is going to zigzag, go up and down, and so on. As long as new services and goods come into existence, then we will be just fine.

Don't forget that we rose to dollar parity in almost a vertical jump. Before that, we were in the 0.3 to 0.4 range.

stakhanov

full member

Activity: 175

Merit: 101

With the bitcoin to USD exchange rate falling steadily for one month now, I thought it would be interesting to know what people think about the future.

Topic: Where do you see the BTC-USD exchange rate in month? - page 2. (Read 6289 times)