Topic: Why do people still think we can make it past 1000 anytime soon? (Read 5677 times)

no, because noone has the exclusive right to print money, unlike now.

The unfair wealth distribution will even off, instead of getting worse. At first the early adopters (including us) will be pretty rich, but once we spent our money, it's spent, and we have to earn new money again. Main while whoever offered us goods or services will get a fair payment.

There will be no free rides, or at least a lot less than with fiat.

We are dropping folks. 500 and soon below it. 2014 year of the bitcoin destruction

@ Z

A few things...

 - Your opinion about the "anonymous criminals" dumping Bitcoin and hurting a respected exchange is foolish. Banks love criminals, always have... Somebody would make millions in mere moments on the arbitrage opportunity. Pennies on the dollar...

 - Gold was used as untraceable money since the earliest periods of human history, modern day paper money is also untraceable, this nanny state mentality about knowing the financials of everybody else is toxic. Only in the last few decades has humanity had the tools to efficiently track money. The ability to deprive somebody the use of their money is the assertion of power over another; it's a claim of ownership, basically slavery. I don't care if the money belonged to a drug dealer, it's none of my business to ask and it defeats the purpose of money. If I traded a service and couldn't collect payment just because the money was "tainted" I would choose a different currency and never look back. Money is broken when it's not fungible.

 - Manipulation in any market is negative, gold or Bitcoin. Sadly, many crimes are committed by "trusted" people. Using fake money to manipulate a market is cheating. Cheating is never right, not even when you are the one printing the fake money. For every winner there is a loser, when you create losers by manipulating a market you are not "trustworthy" in my opinion and the reason isn't "good enough". At least with Bitcoin the people who manipulate the price have a limited amount of Bitcoins; at least we all play by the same uniform set of rules...

 - I just spent $230 last week on groceries that would cost $90 back in 2005. Look at the world for what you see, not what they tell you... Stability is a joke, they are laughing behind your back because you believe in "stability". I agree that stability is important in a currency, if only I could find one...  At least Bitcoin *Might* have a future; I don't believe our legacy financial system will outlast it. Honestly I don't...

 - Bitcoin is trending downward, it will trend upwards, then downwards, so on and so forth. Bitcoin has lost no security, the perception of insecurity is weak. You might feel insecure walking across a bridge, or being high up in a building. Your emotions don't affect the integrity of the structure one little bit... Bitcoin is just as secure now as ever, if you don't own your private keys you don't own Bitcoin. Lessons in security...

 - Bitcoin might not be the most popular crypto in the future, but if it's ever replaced you can be sure it will be replaced by something better and not by something we're simply told to use... Bitcoin opened the door, now we can pass through it and see what happens in time.

 - Never go full fiat...

I think that if someone could effectively market bitcoin in south- and central-America, then we could really get 1BTC 10,000$+. I think that this region would be the biggest and most suitable market yet. What troubles me, is that I see no progress of this development. I think that with proper contacts and funding you could make bitcoin very popular there. I was certain during December that bitcoin will enter south-America in spring, but will of development I have began to loose faith for future potential. Without conquering new ground, bitcoin will just slowly die without any new booms.

I haven't thought about Middle East because I think that using Bitcoin will create confusion on it's suitability with Sharia.
But give me Mexico, Brazil, Venezuela, Argentina and Colombia and I'll start posting train pics.

I have no beef with btctalk and I think that their ban was justified. It was just an unfortunate outcome of me not responding well to threats.
I'm hardly championing the current market conditions. My tactic is simple, but has proven itself effective - sit in fiat and only jump in, if there is a strong reason to jump in and be ready to jump out when the time is right. This is the nature of this current market - rises are fast but weak and temporal. There needs to be some market development to raise new trust before this bear market is over. You can't just draw a line and expect that everything will be good because last years pattern showed that it was good. Last years patterns are caused by real reasons, not the other way around.
Bitcoin biggest holders (in all probability the exchanges), should unite to create an more trustworthy market system, with constant internal audits and transparency to the public. Only then would smart investors feel safer investing back into crypto. You can't just draw a line and expect that the investors will believe it without reason, only sheep follow these meaningless lines.

I've been following news on Latin America and Middle East ... I think bitcoin will expand on these areas, while been lite stagned on EU/US ...

PS-> Sounds like in Latin America elections is preaty much reassembling "cold war" times where you should choose to be either libertarian or Statism; btw its' reminds me ...

A story that might not be a story, and a recent reminder from Satoshi.
https://bitcoinfoundation.org/forum/index.php?/topic/745-a-story-that-might-not-be-a-story-and-a-recent-reminder-from-satoshi/page__hl__venezuela

Wow. You have to be a real fucktard to get banned on btctalk. Congrats on that one.

At least you admit you champion the current market conditions. Whatever you think lines your pockets the most I suppose. Maybe just maybe there are enough idiots out here for you to influence to scrape a few dollars more of the top of the ask and bid price to make it worth your while.

My previous username got banned for disagreements with an certain individual. If you have been an active reader of this forum, then you can probably guess the answer with ease.
With investments, I mostly support the side that has more strength. When bulls have more strength, then I'm bullish, when bears, then bearish. I would so try to say things, that would make bitcoin look good, if I had any reality based support to do this. I'm not the kind of guy who goes bullish with the support of denial and empty hopes. Give me new bitcoin exchanges with decent volume in new geographical locations, and I'm as bullish as can be. But for the previous months, there haven't been a single strong reason, that would give me assurance of bitcoins strenght. And I'm not happy about it, because I would earn a lot more if bitcoin would be rising.
I just don't see that denial and building false hopes are a very effective methods to guide your investments. Sorry.

Lol. What was your username pre-3/14/14?  I have a few guesses.

You are like bear troll 101. Straight out of the fud-to-bring-price-low while pump-to-get-price-high handbook.

Right now you love LTC. No coincidence that you arrived right before the LTC houbi buy the rumor sell the news pump and dump.

You'll be gone from here in another week or so. And will be forgotten. He'll, they probably already miss you over at the btc-e troll box.  

Meanwhile, for the rest of us, life goes on as normal.

People who can't understand the value of currencies price stability and security, are the ones who learn finance from youtube videos, and who think that schools are evil, because they aren't fun and easy like the youtube videos they prefer. The best "educational" videos are made by guys whose username is something like Bitcoin$$Playa and who can confirm that bitcoin is especially secure because of it's speculative value without an anchor. So, everyone should buy now to become Ze New w0rld l33tz.

People who think that bitcoin should be fixed to some practical everyday resource are the ones who learn about bitcoin, economics, and finance from people who know little about any of the three.

I'd say you seem to be more emotionally attached to Bitcoin than anyone else posting in this thread...alas a negative attachment.

As for your drug dealer bogeyman dumping 1mil btc on the market - it has been proved beyond reasonable doubt that the only entity controlling that much btc is satoshi (and his btc have never moved). DPR probably still has lots of coins even after the seizure but he probably won't be dumping any time soon Of course it is in the realm of possibility that one entity has indeed amassed 1mil btc somehow and they can, of course, dump them on stamp or wherever to crash the price. They'd have to be extremely stupid or nefarious to do that and all of these factors combined make for a pretty small possibility imo. Bitcoin has far greater threats to withstand than theoretical drug lord billionaires dumping btc until it goes to zero.

Oh well, I dislike "cultists" myself for they make onlookers focus on something else besides the core technology which is what it important here. But your way of presentation doesn't help any sort of rational case either  

EDIT: oh and to stay on topic - given past history and Bitcoins current phase of development, as well as its market cap...it's not unreasonable at all to expect 1000$/btc, even this year. It makes for only a 10billion+ USD market cap, which is STILL a very small pool of liquidity (given that most of the coins are not for sale at any given time) for the purposes btc could be used.

You are saying $10,000 later this year (before 2015)
Isn't that a bit optimistic?

LOL..

10 000 U$ before 2015.. Because Bitcoin is so awesome.. Peoples just dont realize yet !

I used to think any prediction of $1,000+ was crazy.
When we had the China Bubble from ~265 to ~1,200 I (re-)learned how amazing these Rallies can be.
The next one will take time, but it will happen.

Of course they are manipulating the gold market, like most other markets are manipulated by large holders who are artificially restricting supply or simulating demand. What makes a difference with bitcoin, is that these sides are known and their interests are known and trusted. They know that they have to keep their methods refined, so it won't create too big of an outcry. People in finance know this and they trust these manipulators to be stable and subtle enough because they have a known history. With bitcoin, you don't know the players who could turn the game, and that is not knowing one of the most important things that you should know when investing.

I'm going to sleep for today. I hope that you really needed this explanation and you weren't just trolling me with pretending not to understand the difference.

First there was:


Then the next post was:


Why has no one else pointed this out yet?

Please tell me more about the large gold price manipulation by gold cartels.

The small gold holder doesn't matter as long as an overview can be made over the biggest holders of the market. For instance, if already 9mil. of bitcoins would be accounted for, then you could let the other 3,5mil slide, and just hope for them to be hoarded up in some legit storage. It would still be a risk, but with a much lower factor. The current evidence, or you could rather say the lack of evidence, about ownership, is the thing that makes buying bitcoin risky to an man with financial experience. Investing smart, means learning as much as you can about the field and knowing all the important factors that could influence the market price. Bitcoin was an high-risk/high-gain investment, but now it has become too bloated for that. All thee the previous risks remain, making it now an high-risk/low-gain investment.

That's what I'm trying to tell here, that there is no point in getting your hopes up with ETF. Please don't start telling me things that particular gold holder anonymity, is comparable the anonymity that is the biggest part of the bitcoin market. It's senseless to ignore the long history, that gold has with human civilization, and the trust that this history brings into the equation.
When dealing with wealth, then it's all about trust. Wealth flows into people or places that can be trusted..

particular gold holders

Not an ETF.