if Bitcoin succeeds (if!) then it must be worth much more than today - this is due to the velocity of money
with $2 or $20 or $200 bitcoins, it is impossible to conduct a reasonable amount of trade
if Bitcoin does not succeed, or another blockchain is the winner, then Bitcoin can drop to zero. I don't believe that will happen, though.
Topic: Where is the money going to come from to rally bitcoin? - page 3. (Read 4370 times)
I've said it before and I will say it again, Bitcoin at these high prices is a very bad investment.
Yeah I guess that's the best way to put it. Smart money is not going to be buying right now. They buy in before any media attention, there has been plenty of media attention actually much more than I could have ever imagined.
Think about what you are saying here,
The media attention has been negative. that means they sold before the media attention.
now they are buying before the next round of good media attention.
^^ THIS ^^
To answer the original question, wall street or organized crime, though those may be indistinguishable.
The IRS ruling has hurt bitcoin's ability to be used as a payment system. If you sold out and are happy then good for you! Right now, I'm holding in the expectation that a community innovative enough to develop bitcoin will be able to find a way around this latest issue.
The IRS ruling has hurt bitcoin's ability to be used as a payment system. If you sold out and are happy then good for you! Right now, I'm holding in the expectation that a community innovative enough to develop bitcoin will be able to find a way around this latest issue.
You guys should be focus on getting the "money in" from people actually using bitcoin as a currency for commerce rather than from "investors"!
investors must come first to set up the infrastructure. It cant happen the other way around.
I didnt say they would be buying the coins, and indeed they are setting up the infrastructure at an alarming rate. that IS the focus on getting the "money in"
Investors are none the less needed to take risks. Investors will cause the first wave.
It will be easy to get more investors and commerce to use bitcoins when this is complete.
You guys should be focus on getting the "money in" from people actually using bitcoin as a currency for commerce rather than from "investors"!
investors must come first to set up the infrastructure. It cant happen the other way around.
You guys should be focus on getting the "money in" from people actually using bitcoin as a currency for commerce rather than from "investors"!
investors must come first to set up the infrastructure. It cant happen the other way around.
You guys should be focus on getting the "money in" from people actually using bitcoin as a currency for commerce rather than from "investors"!
I think edward50 might go down in history as the man who watched bitcoin go from $2 to $5k and lost money
I will genuinely feel sorry for u if we'll see $5k this summer
I will genuinely feel sorry for u if we'll see $5k this summer
Your wrong and this is what people said about the last bubbles. Its always the end and its always impossible to go for another ATH. The same people who sit around saying bitcoin is dead are the same people who will panic buy on the way back up. Buy high sell low innit...
100% with you.
I have only seen one complete cycle, and I always wondered, how do these people give up every time. here we are on the dip, where we all were gonna buy just 3 monhs ago. but this time, bitcoin is dead for good!
the market cap is tiny!
Guys you have to remember the >$1000 price was largely driven by chinese speculators. Bitcoin will have a value no matter what, the minimum of it would be how much it cost to create new bitcoins (through mining), anything higher is artificial/speculative. Of course over time the price of Bitcoin would fundamentally rise due to its nature of limited supply and being increasingly difficult to mine, albeit slowly and perhaps boringly. Speculators just make Bitcoin the roller coaster ride that we're seeing now.
I think(and hope frankly) Bitcoin is stablizing. Those who bought at the current lows may be hoping to see it go up to $1000 again in a few months like how it was last year, but I don't think we're gonna see those kind of crazy rides anymore. After the mania stage that was december last year, the bubble cycle is now complete.
I think(and hope frankly) Bitcoin is stablizing. Those who bought at the current lows may be hoping to see it go up to $1000 again in a few months like how it was last year, but I don't think we're gonna see those kind of crazy rides anymore. After the mania stage that was december last year, the bubble cycle is now complete.
Your wrong and this is what people said about the last bubbles. Its always the end and its always impossible to go for another ATH. The same people who sit around saying bitcoin is dead are the same people who will panic buy on the way back up. Buy high sell low innit...
You are far better off placing your money in the stock market and betting on a single stock. At least you know your money is safe.
This would be what you are doing?
Guys you have to remember the >$1000 price was largely driven by chinese speculators. Bitcoin will have a value no matter what, the minimum of it would be how much it cost to create new bitcoins (through mining), anything higher is artificial/speculative. Of course over time the price of Bitcoin would fundamentally rise due to its nature of limited supply and being increasingly difficult to mine, albeit slowly and perhaps boringly. Speculators just make Bitcoin the roller coaster ride that we're seeing now.
I think(and hope frankly) Bitcoin is stablizing. Those who bought at the current lows may be hoping to see it go up to $1000 again in a few months like how it was last year, but I don't think we're gonna see those kind of crazy rides anymore. After the mania stage that was december last year, the bubble cycle is now complete.
I think(and hope frankly) Bitcoin is stablizing. Those who bought at the current lows may be hoping to see it go up to $1000 again in a few months like how it was last year, but I don't think we're gonna see those kind of crazy rides anymore. After the mania stage that was december last year, the bubble cycle is now complete.
OP, sounds like you recently unload a large sum of bitcoin, do you understand that you were able to do that because you are dead wrong?
congarufuckinglation.
congarufuckinglation.
It's Edward mate. He is here since 2011 and I doubt there is more than 1 digit posts of his where he doesn't say bitcoin is overvalued, even when it was in single digits.
Quote
So when bitcion was well over $15 or $20, I was saying I would buy bitcions when they hit around $2.00's, that is when I said it was a good long term investment.
Now that it hit that point, I do not even want to buy them. It seems that one thing consistant with bitcoin since it hit $30, was that it continues to drop.
Being one of the bigger bears about bitcoin, I am not sure now where the bottom is. Since I missed buying oil when it was $30, I was waiting for it to hit $20, I do not want to miss the bottom here.
Personally, I think I am going to wait this out for a long term stable price. I believe it should bottom out and stay at that price for a long time, like months, then it may gradually go up from there. But with gradual, I am saying, like 3-5% a year. Reason for saying this is that, 7,500 or so new bitcoins are coming to the market every day, this will have a stabalizing effect on bitcoin.
So I am going to sit this one out.
Remember, bitcoin always reaches its new lows, then it has a dead cat bounce. But the fact is that something like 50K-100K of bitcoins were sold to make it fall this low. These people now own these bitcoins. It only takes maybe 5K bitcoins to increase it back up a bit. However, 100,000 or so bitcoins are now sitting in these peoples pockets.
If they dump them they will make bitcoin fall further. They should also be less likely to buy future bitcoins, now that they own many of them.
Now that it hit that point, I do not even want to buy them. It seems that one thing consistant with bitcoin since it hit $30, was that it continues to drop.
Being one of the bigger bears about bitcoin, I am not sure now where the bottom is. Since I missed buying oil when it was $30, I was waiting for it to hit $20, I do not want to miss the bottom here.
Personally, I think I am going to wait this out for a long term stable price. I believe it should bottom out and stay at that price for a long time, like months, then it may gradually go up from there. But with gradual, I am saying, like 3-5% a year. Reason for saying this is that, 7,500 or so new bitcoins are coming to the market every day, this will have a stabalizing effect on bitcoin.
So I am going to sit this one out.
Remember, bitcoin always reaches its new lows, then it has a dead cat bounce. But the fact is that something like 50K-100K of bitcoins were sold to make it fall this low. These people now own these bitcoins. It only takes maybe 5K bitcoins to increase it back up a bit. However, 100,000 or so bitcoins are now sitting in these peoples pockets.
If they dump them they will make bitcoin fall further. They should also be less likely to buy future bitcoins, now that they own many of them.
Answering the question about where the money is going to come from, I think the money is going to come from the transacting potentials that will continue to come from bitcoin. The fact that Square Market is partnering with Coinbase will act as a somewhat of a catalyst for the price of bitcoin in a similar fashion that Overstock did. I wouldn't be surprised if Square takes a similar approach and keeps a certain cut of the revenue they make and leaves it in the form of bitcoin. That, it seems, would help to provide some of the backing for the next rally.
[As a quick note, the prices were still "dropping" when Overstock came into the scene. But that's because the conversion rate was just way too artificially high. I think we're approaching that point where the overall floor has caught up and the next rally won't be as high, but it won't be as unsustainable at the same time.]
[As a quick note, the prices were still "dropping" when Overstock came into the scene. But that's because the conversion rate was just way too artificially high. I think we're approaching that point where the overall floor has caught up and the next rally won't be as high, but it won't be as unsustainable at the same time.]
Those giant spikes up are caused by delusional dumb money (i.e. general public) during a media driven hype. Smart money buys low.
It wouldn't surprise me if bitcoin will be hyped up again after some kind of 2008-like financial crash, which is likely coming in the next year or two.
It wouldn't surprise me if bitcoin will be hyped up again after some kind of 2008-like financial crash, which is likely coming in the next year or two.
Thats why I do not think Bitcoin is going to go crazy this year. Sometimes next year it will take off again.
That is all speculation on your part that they are buying. There is no proof to that. Volume is very very low, and only seems to go up when people are panic selling. After the panic selling is over the volume is ridiculously low. I watch it a lot on btc-e. Nobody is buying anything substantial.
The price tends to creep up higher on low volume only. But when it does this, it is a matter of time before it falls right back down for a new low.
Bitcoin got too ahead of itself and priced in major world expansion. This is all falling apart now and yet the price still remains high. It is unsustainable at the present time. You still have a lot of people holding, there is still a lot of optimism and delusion. I don't know how long that will continue. The selling pressure should increase with time as it is obvious that a rally is not going to happen.
The price tends to creep up higher on low volume only. But when it does this, it is a matter of time before it falls right back down for a new low.
Bitcoin got too ahead of itself and priced in major world expansion. This is all falling apart now and yet the price still remains high. It is unsustainable at the present time. You still have a lot of people holding, there is still a lot of optimism and delusion. I don't know how long that will continue. The selling pressure should increase with time as it is obvious that a rally is not going to happen.
!!! it goes up when people panic sell? !!!
get your theories straight!!
I have evidence that large investors are buying;
-Risto is buying
-while the ban is genuine, coins are leaving the chinese exchanges causing a huge arbitrage in prices - yet the markets have all rallied since the confirmation. the buying pressure is fighting the full force of the ban. that is immense pressure.
The volume is low because there are no panic sellers left to sell in this price range. the coins are under-valued. They all know there are offshore investors injecting fiat into bitcoin right now, and they are moving their coins to other exchanges - but the price tolerates the selling pressure an is rallying.
There is blood in the streets, and the big invesors are buying.
OP, sounds like you recently unload a large sum of bitcoin, do you understand that you were able to do that because you are dead wrong?
congarufuckinglation.
congarufuckinglation.
I would never invest in bitcoin at these ridiculously high prices. I bought some bitcoins around $700-$900 at that time to gamble with alt-coins which I made money on. I then sold everything I owned when bitcoins were $800 because it was obvious that this was all going to fall apart.
I have my past posts to document all this, and I told everybody I was going to do that and how bad of an investment bitcoin was at that time and still is even at $500.
lol then I guess your never going to buy bitcoin again because $437 was the bottom
You may be correct but highly unlikely, but I deem the risk/reward not worth investing in at $437. I can place my money elsewhere that I deem a better risk/reward than bitcoin.
Then you should; I happen to disagree with you because I feel differently.
OP, sounds like you recently unload a large sum of bitcoin, do you understand that you were able to do that because you are dead wrong?
congarufuckinglation.
congarufuckinglation.
I would never invest in bitcoin at these ridiculously high prices. I bought some bitcoins around $700-$900 at that time to gamble with alt-coins which I made money on. I then sold everything I owned when bitcoins were $800 because it was obvious that this was all going to fall apart.
I have my past posts to document all this, and I told everybody I was going to do that and how bad of an investment bitcoin was at that time and still is even at $500.
lol then I guess your never going to buy bitcoin again because $437 was the bottom
You may be correct but highly unlikely, but I deem the risk/reward not worth investing in at $437. I can place my money elsewhere that I deem a better risk/reward than bitcoin.
Yeah I guess that's the best way to put it. Smart money is not going to be buying right now. They buy in before any media attention, there has been plenty of media attention actually much more than I could have ever imagined.
Think about what you are saying here,
The media attention has been negative. that means they sold before the media attention.
now they are buying before the next round of good media attention.
What are you talking about?
Smart money buys in before the media attention, then they sell at the peak of the media attention or the top of the bubble, way before all the negative media attention that you see now. That is why there is negative media attention and the price has been falling because the smart money cashed out a long time ago and are not buying anymore.
I do not understand how you completely turned around what I wrote.
I guarantee you, no insiders bought before the China ban news came out! but they did buy at the bottom!
The news has NOT been positive!
Large investors buy when there is blood in the streets, they are buying now.
That is all speculation on your part that they are buying. There is no proof to that. Volume is very very low, and only seems to go up when people are panic selling. After the panic selling is over the volume is ridiculously low. I watch it a lot on btc-e. Nobody is buying anything substantial.
The price tends to creep up higher on low volume only. But when it does this, it is a matter of time before it falls right back down for a new low.
Bitcoin got too ahead of itself and priced in major world expansion. This is all falling apart now and yet the price still remains high. It is unsustainable at the present time. You still have a lot of people holding, there is still a lot of optimism and delusion. I don't know how long that will continue. The selling pressure should increase with time as it is obvious that a rally is not going to happen.
Jump to: