Do you have any analysis as to why this trend is unsustainable? It perplexes me why there are those on the forum who are only willing to accept slight success for bitcoin. What if a small country adopts bitcoin as their national currency? What if a major e-commerce site integrates bitcoin? Those that prophesy a downtrend because bitcoin adoption is unsustainable should at the very least back up their arguments with logic.
That's not to say a major flaw could be discovered tomorrow and the price tanks to $0. Both are possible, why do you think one is probable over the other, and what proof other than napkin logic and feelings do you have?
That's not to say a major flaw could be discovered tomorrow and the price tanks to $0. Both are possible, why do you think one is probable over the other, and what proof other than napkin logic and feelings do you have?
I should clarify, I mean the trend with relation to precious metals. I do not believe BTC will appreciate much farther against silver and gold. That's also what I meant by exit plan; in spite of new money, you can't eat bitcoins.
Why do you think it's unsustainable. It doesn't matter which relationship we are discussing. If it is a generalized belief, that's all well and good. This is the speculation sub-forum after all, and all opinions are welcome. I don't however, agree with statements like The trend right now is unsustainable. This is what we know.. We don't know this, and you haven't offered up any explanation as to why you feel this way.
As an aside, currency was not made to be eaten. If you are, you're doing it wrong.
In comparison to percentage gains and losses on logarithmic charts to the upside we are seeing a linear progression towards zero in silver/BTC. We know it's unsustainable because precious metals can never be worth zero. Especially an industrial metal like silver. The scary thing about the charts is that the progression is linear. It's not stopping. People will double and triple on these moves. Imagine investing just 150 BTC $35 into $28 silver. (203 oz.) When BTC falls back down to $20, and silver goes back to $38, which are just normal, expected technical points, you now have 386 BTC. More than 100%. We don't know when we will hit these technical points but we must expect to hit them to be honest traders. Otherwise, if there is no other news, no supporting macroeconomic picture, we're just gambling.
