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This video is a pretty short (5 minutes) compilation of various bitcoin bulls providing rosey bitcoin price scenarios.
https://www.youtube.com/watch?v=fuH8tdQpWrU
This second video is a bit longer (20 minutes) interview with Vinny Lingham.. and of course he is a bitcoin proponent with rosey scenarios, also. He does seem to be have some decent and solid perspectives on the variety of topics that come up during this interview.
https://www.youtube.com/watch?v=KuLf3TbnXCk
He actually asserts that the volatility of bitcoin will likely come down, somewhat after prices go above $3k.. which remains uncertain regarding how long it will take to get there.
He also indicates that the best case scenario of bitcoin becoming a world-wide currency would be 3 years, and the most pessimistic scenario (which still seems optimistic to me) is that bitcoin would be a world currency in 10 years.
Here's a nice current article outlining various ways to get scammed in bitcoin.
Anyone invested in bitcoin should acknowledge and recognize that as the market cap continues to go up, there will continue to be increasing incentives to find ways to scam people out of their money....
https://medium.com/zebpay/your-complete-....ix5ma5f19
And, don't we kind of expect BTC prices to continue to go up?
Been doing pretty good in the last few months, so I am remaining on the alert for a correction (at least prior to mid $800s, and potentially we could get carried to upper $800s before experiencing a significant (15% or more - up to 25% is within reason) price correction.
I'm really not very sure about what to think about the below linked article.
http://www.financemagnates.com/cryptocur...n-trading/
In essence, this linked article is talking about recent leveraging going to very high levels in bitcoin, and I think that the reality of the matter is that the ability to leverage in bitcoin only came about (for the most part) after the November 2013 ATH.
In other words, prior to November 2013, there was no real ability to leverage or to margin trade bitcoin within various exchanges and other margin trade (shorting) tools.
Accordingly, we have gone from a bear market (January 2014 to August 2015) to a bull market (pretty much October 2015 to present).
I think that it is going to be fairly interesting to witness how the new leveraging tools plays out (and those tools are continuing to evolve in the bitcoin space).
There are folks who want to keep bitcoin down and there are folks who may be willing to leverage to considerable extents in order to attempt to get rich by pumping the price of bitcoin and then to use some of their other money to pump their long leverages (margins).
It is going to remain fairly interesting to witness such a price battle that includes leveraging, and to see how it plays out. Again, I don't really know how to read such leveraging possibilities because I am pretty sure that leveraging can cut both ways if you have folks who may be willing to bet more and more on their preferred BTC price direction (which ends up playing out as neither a pump nor a dump, but instead, potentially a big battle that causes exponential increases in trade volume.. that in the short term should get resolved one way or another sooner or later - and then maybe rinse and repeat).
This thread is great! I personally have some money in bitcoin in light of Brexit, Trump, Italy, etc. As some of you have pointed out Bitcoin is potentially a way to make money but let's not also forget it's good for the storage of money.
If it helps at all, I do "dollar cost average" into various investments. Think Bitcoin, stocks, peer to peer lending, etc.
(12-13-2016 04:08 PM)needhelp Wrote: This thread is great! I personally have some money in bitcoin in light of Brexit, Trump, Italy, etc. As some of you have pointed out Bitcoin is potentially a way to make money but let's not also forget it's good for the storage of money.
If it helps at all, I do "dollar cost average" into various investments. Think Bitcoin, stocks, peer to peer lending, etc.
Are your peer to peer lending investments at all related to bitcoin?
I know that there have been some peer to peer lending services created in bitcoin, and some of them have turned out to be scams (from my understanding), and in the end, I tend to be quite skeptical of peer to peer lending, and probably, there is just a need to budget in that you are going to lose a certain quantity of those funds due to non payment and/or scams.
I'm on Prosper. All I do is put a small amount of money in each account I have. I also stay alert to opportunities and threats.
(12-13-2016 04:56 PM)JayJuanGee Wrote: (12-13-2016 04:08 PM)needhelp Wrote: This thread is great! I personally have some money in bitcoin in light of Brexit, Trump, Italy, etc. As some of you have pointed out Bitcoin is potentially a way to make money but let's not also forget it's good for the storage of money.
If it helps at all, I do "dollar cost average" into various investments. Think Bitcoin, stocks, peer to peer lending, etc.
Are your peer to peer lending investments at all related to bitcoin?
I know that there have been some peer to peer lending services created in bitcoin, and some of them have turned out to be scams (from my understanding), and in the end, I tend to be quite skeptical of peer to peer lending, and probably, there is just a need to budget in that you are going to lose a certain quantity of those funds due to non payment and/or scams.
SunW 路 2016-12-13 18:06:00 路 #3190
(10-26-2016 02:38 PM)SunW Wrote: (08-04-2016 09:14 AM)SunW Wrote: (08-03-2016 08:36 AM)SunW Wrote: Bought 20 @ 521. Ridin the wave
Got 1000 ether at $8. My guess is year end, bitcoin will be 900+ and ether 25+.
Only 230 more to go for btc and 14 for ether with 2 months left.
Fuck, I was wrong about ether. Got some more @ $6 tho. I think I'll be right about btc at year end.
(12-13-2016 06:06 PM)SunW Wrote: (10-26-2016 02:38 PM)SunW Wrote: (08-04-2016 09:14 AM)SunW Wrote: (08-03-2016 08:36 AM)SunW Wrote: Bought 20 @ 521. Ridin the wave
Got 1000 ether at $8. My guess is year end, bitcoin will be 900+ and ether 25+.
Only 230 more to go for btc and 14 for ether with 2 months left.
Fuck, I was wrong about ether. Got some more @ $6 tho. I think I'll be right about btc at year end.
Yes. Ether seems to be having a tough time,recently, and surely they seemed to have been a pump and dump with a lot of centralization (internal manipulation) deals, even while purporting to be Bitcoin 2.0.
I personally think Ether is going to continue to suffer from a severe and ongoing bleeding, but you never know, there could be a few more pumps in them, even though they seem to have lost quite a bit of credibility with the DAO situation and their various reactions to that and their various subsequent forks (seeming to fork for forking sake - causing no one to want to actually use them or build upon them).. In other words, Ether seems to be turning more into speculation than even it had been a year ago (I always thought that they were kind of pie in the sky with their proposals, even though they seemed to have actual people working on various aspects of their projections).
Bitcoin remains another story (compared with Ethereum), and seems to have pretty decent legs (potential) in recent months.
As I stated several times, I don't consider $900 to be any kind of sticking point for BTC, but instead probably a point of resistance in the short term and probably a floor of support in the future, after the next bubble. Timing for either remains unclear. I could imagine BTC prices testing resistance in the mid-to-upper $800s before the end of the year, and then either a correction (which seems fairly likely) - or possibly price could just pass right through upper $800 resistance. Could call, however, SunW with picking up 20BTC during the August dip to $521 (I know that we dipped into the upper $400s, and even I was trying to buy some BTC at those prices, and I could not get my purchase to go through until about $507 or something like that.. so prices did not stay down in those ranges for very long).
I am citing this article because I like the way it starts.
Do you know where bitcoin is going?
I don't have the slightest idea.
hahahaha
I say that a lot, even though I post a lot of opinions, too, but in the end, "I don't have the slightest idea."
Hahahahaahahaha
https:[email protected]/bitcoin-....3v3l6ufosEven though the process of getting seg wit activated could take 4-12 months, it does seem to becoming more and more likely that it is going to get activated, because some of the seemingly hard baller anti-segwit proponents are softening up, somewhat (and at least for the moment)
https://www.reddit.com/r/Bitcoin/comment..._ver_have/I am glad that there are smart people working on a variety of technical solutions to current day potential problems, and yeah, of course, bitcoin continues to struggle from some of the user-friendliness challenges - that may be a part of the issue with any new technological system that is achieving as much that bitcoin achieves (such as immutable decentralized security).
In the below article, they assert that some kinds of technical additions to wallet services would be providing plausible deniability to whether you have access to certain bitcoins that you may own by allowing the creation of hidden wallets under various scenarios. Seems to still be in fairly early development stages, but interesting.
https://www.reddit.com/r/Bitcoin/comment...ccesses_a/The map in the link is really cool...
It shows how bitcoin's market cap has changed over time to become larger than the market caps of currencies of several countries. I am sure in the future that the number of countries that have currencies with market caps lower than bitcoin is going to increase, increase and increase.
https://bitcointalk.org/index.php?topic=...sg17194963The below linked document overviews a federal reserve governmental report about blockchain (and the actual federal reserve subcommittee report is linked in the beginning of the article).
https://www.cryptocoinsnews.com/federal-...-obsolete/
It seems to me that these kinds of reports demonstrate a certain level of bitcoin acceptance (even when there may be some concerns about the decentralized (or quasi-decentralized, depending on who you ask) immutable nature of bitcoin)
SunW 路 2016-12-16 17:09:00 路 #3198
(12-13-2016 09:42 PM)JayJuanGee Wrote: Yes. Ether seems to be having a tough time,recently, and surely they seemed to have been a pump and dump with a lot of centralization (internal manipulation) deals, even while purporting to be Bitcoin 2.0.
I personally think Ether is going to continue to suffer from a severe and ongoing bleeding, but you never know, there could be a few more pumps in them, even though they seem to have lost quite a bit of credibility with the DAO situation and their various reactions to that and their various subsequent forks (seeming to fork for forking sake - causing no one to want to actually use them or build upon them).. In other words, Ether seems to be turning more into speculation than even it had been a year ago (I always thought that they were kind of pie in the sky with their proposals, even though they seemed to have actual people working on various aspects of their projections).
Yeah, Ether has potential but will never be bitcoin. I kinda see 25-30 as its long term value.
(12-16-2016 05:09 PM)SunW Wrote: (12-13-2016 09:42 PM)JayJuanGee Wrote: Yes. Ether seems to be having a tough time,recently, and surely they seemed to have been a pump and dump with a lot of centralization (internal manipulation) deals, even while purporting to be Bitcoin 2.0.
I personally think Ether is going to continue to suffer from a severe and ongoing bleeding, but you never know, there could be a few more pumps in them, even though they seem to have lost quite a bit of credibility with the DAO situation and their various reactions to that and their various subsequent forks (seeming to fork for forking sake - causing no one to want to actually use them or build upon them).. In other words, Ether seems to be turning more into speculation than even it had been a year ago (I always thought that they were kind of pie in the sky with their proposals, even though they seemed to have actual people working on various aspects of their projections).
Yeah, Ether has potential but will never be bitcoin. I kinda see 25-30 as its long term value.
I would love to get into some kind of discussion of various ongoing developments of BTC - and even maybe how some macroeconomic factors may more or less affect BTC price. I tend to think that bitcoin is kind of on an exponential developing and adoption curve that causes it's immaturity difficult to compare with other mature assets - in other words, bitcoin is likely to rise in price, even if it may not be a better asset than some of the other traditional assets. It seems that you and I probably agree upon several of bitcoin fundamentals and that bitcoin will likely continue to go up in price, though we may have varying assessments concerning causal factors.
Regarding Ethereum, I don't want to get too much into your rationale that justifies ETH as a potential $25-$30 value because that seems to be more of a discussion that is getting off topic of this thread - and sure we could take it to the alt coin thread - but I am surprised by such a seemingly bullish assessment, mostly because there has been, and likely will continue to be too much human intervention in ETH that is likely going to undermine it's credibility (and continue to do so) and cause folks who had been investing into BTC to recognize that they were being played in a variety of ways with some of the ETH hype.
I personally think that the more likely scenario is that Ethereum is going to die on the vine, and likely not reach over $15 again.. including concerns about it's inflation rate and ability to be able to support such prices... In other words, the more likely scenario is down, but I don't really mind if I happen to be wrong (I just hate that some folks may lose money in that seemingly ongoing mess of a project)
This is a bit of a superficial (and possibly redudnant) overview post regarding bitcoin's performance in 2016 - but also a factor that some of the mainstream financial sector outlets are starting to put more and more effort into saying good things about bitcoin... I mean look at all the colorful posters in that Bloomberg press snapshot.
https://www.bloomberg.com/news/articles/...here-s-why
This article does a little bit of a compare and contrast to suggest that bitcoin is a growing (and arguably "maturing") trading platform.
https://news.bitcoin.com/fx-market-shrin...n-expands/Sometimes we need a bit of a rebuttal piece (see below linked article), when we are looking at various bitcoin perspectives (especially when confronting some of the negative Nancies that are out there, including some of the butt hurt bigblockers that you find on bitcoin.com, rbtc, anti-segwiters, and some of the alt coin pumpers that continue to assert that bitcoin is dying and their coin is better, blah, blah blah...)
https://news.bitcoin.com/lets-make-2017-year-bitcoin/Satoshi 路 2016-12-16 23:12:00 路 #3202
Fuck linked articles. I've one thing to say. Bitcoin rally is happening!!
(12-16-2016 11:12 PM)Satoshi Wrote: Fuck linked articles. I've one thing to say. Bitcoin rally is happening!!
Linked articles remains a way to discuss actual bitcoin substance, to the extent that anyone might be interested in such substantive discussions. From time to time, I find ones that interest me, and I present them to possible interested RVF guys for their consideration.
I agree about the decent rally, but the bitcoin price rally has really been happening since about August 2015, and largely the bull run started around that time - even though at the time it begins, it can be difficult to determine that it had begun, and it could have reversed, but it has not, so far. Seems like bitcoin is in a very decent position right now.. but we will see whether the rally continues or not, no?
I personally believe that we always need to be somewhat wary of mediocre volume "rally", because I get the sense that we could be dumped upon at any time, and without notice.
For example, we have not had any meaningful downward price correction for a few months, since about lower $600s, therefore it is certainly possible that we could experience a 15-25% correction at any time, and unexpectedly. I personally am tentatively thinking that such a correction has a decent chance of occurring before $900... and yeah, we have not gotten past $800, yet, either, which seems to have been in reach for nearly 2 weeks.
The below linked article is a prediction of future events that may have a positive effect on bitcoin, either today or tomorrow (and frequently there is a difference of opinion regarding whether these kinds of future events are already "priced-in", and probably partly, the answer to the "priced-in" question has to do with how well they are known or generally known by significant people already buying or those who have bought ahead with these considerations in mind.
https://cointelegraph.com/news/bitcoin-p...coin-value (12-16-2016 06:31 PM)JayJuanGee Wrote: Sometimes we need a bit of a rebuttal piece (see below linked article), when we are looking at various bitcoin perspectives (especially when confronting some of the negative Nancies that are out there, including some of the butt hurt bigblockers that you find on bitcoin.com, rbtc, anti-segwiters, and some of the alt coin pumpers that continue to assert that bitcoin is dying and their coin is better, blah, blah blah...)
https://news.bitcoin.com/lets-make-2017-year-bitcoin/
I recently kind of changed my outlook on Bitcoin in the sense I don't think mass adoption matters which in hte past was something I wanted to see.
Even if my local starbucks accepted bitcoin I dont think I'd use it there's no reason not to use cash or card imho.
I see bitcoin as a storage of value and a means of making large transactions, especially in "high risk" categories and or internationally. Outside of that I dont think btc is really needed for day to day commerce but it doesn't matter b/c bitcoin has value for the other reasons.
With India playing games with banking Bitcoin is a safe storage of value. When the Russian Ruble or Chinese Yuan is losing value, safe storage of value.
I do business iwth people in Africa Western Union will no longer let me send payments which it was always expensive anyway. They can't get paypal and bank wires are complicated banks dont like large international wires, bitcoin would be perfect.
If I were selling vapes or a high risk or high chargeback item again bitcoin rocks for that.
I think bitcoin has a ton of value and practical use but buying cofee and mainstream adoption for those types of things is not necessary.
I'm sure this argument has been made by others before but its something that just clicked with me