finally got my bitcoin $
200 tomorrow and we rest for 3-4 days before hitting 250
Congrats on the 10k profit.
Bitcoin hits $100
- Thread starter lcver
- Start date
Congrats on the 10k profit.
Keep in mind that compounded risk-free interest also has a parabolic chart if viewed from a long enough time frame.
Bitcoin is surging in anticipation of widespread adoption. I would estimate there is a 5% chance that bitcoin will be a viable currency and coexist with greenbacks , especially with the help of VCs and Wallstreet. If that happens, bitcoin will be worth thousands apiece. Calculating the expected value yields a target in the 1000's, but due to scarcity issueS they cannot all be bought at once, so bitcoin will surge on a weekly basis until it converges to the expected value >1000.
When will it come down? People predicted numerous times that Walmart, Amazon, Dell ,AOL, Micorsof,t Facebook, Google would 'come down'..never happened (or at least not until those companies were worth billions, and many are still going up decades later)
They aren't contradictory statements unless I think that Bitcoin will
1. Stay at the current level indefinitely
2. Continue to rise until the end of time.
I don't think either conditions are possible.
I'm absolutely convinced we are in the beginning stages of price discovery now... But not Just for bitcoin... Something far larger than bitcoin is being considered by the mainstream public... The idea that they don't have to use the existing system anymore. (Freedom.)
Naysayers gonna naysay, but all of the big upswings on the bitcoin price chart, including today's, happen whenever there is scary news about a government stealing from their people.
Last week it was Cyprus, and that cooled down (mostly thanks to a bunch of DDos attacks) and then Japan's news moved the charts up a bit the other day and today Portugal's news sent it wildly upwards... These things keep happening and people keep getting scared of their establishments and running to bitcoin... Works like a charm.
So what this is, is price discovery of a far, far larger scale... A price discovery of economics in general without nations.
History books/reports/whatever are going to be devoted to this event for centuries... But bitcoin might not survive the decade.
There can be only one popular coin at a time, and it would be extremely difficult to change the dominant coin. (I'm thinking in decades here.)
LTC is useful for speculation/daytrading only.
And what happens if we 'discover' that it absolutely does?
You can't know this.
If the USG makes them illegal, no one legitimate will touch it.
If that happens, everyone will be inventing a new digital currency.
lol, someone always does this in a mania. They rationalize the moves as being indicative of a fundamental price level.
This is no different, albeit on a much smaller scale than what happened in 1999. Or 2005.
If you're going to play a sucker's game (I am too risk averse to do so), don't be the sucker...
If you were against BTC you officially missed an opportunity. It doesn't matter how you slice it.
Congratulations on the enormity of your success.
If you were against BTC you officially missed an opportunity. It doesn't matter how you slice it.
Congratulations on the enormity of your success.
Are you taking profit's on it yet? Or going to let it ride?
At this point it is nothing more than gambling. What goes up must come down.
You would be an idiot to short Bitcoin right now.
Ok you may not have any faith in them or even like them all that much but you cannot deny the fact that they do not appear to be slowing down any time soon.
