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Boracic,
Also easy to forget that this is still in its infancy and as such very much a work in progress. The piecemeal nature of the many trading solutions being offered will need a few more years to be refined and without too much doubt there will be casualties along the way.
There is constant innovation taking place in the integration process so it's just a matter of time before efficiency and convenience begin to facilitate more aggressive mainstream adoption.
I agree completely, and in all fairness the system as it stands favours those who are investing in the technology, rather than speculating on accelerated gains.
Although, with the advent of ETFs and CFDs jumping on the Bitcoin bandwagon, more opportunities are opening up for short term traders which will only fuel the volatility we've seen so far.
As has been said by others though, if you believe in the long term prospects of Bitcoin, then the short term swings are of little consequence.0 -
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I'll have to watch it later, having problems playing back videos on Youtube. What's Alex Jones got to say? He's not someone I would hold in too high regard when it comes to financial matters.0 -
The gist is that Alex, who I personally find annoying when he rants but am prepared to listen to what he has to say, supports the competition from cryptocurrency in the money market against the corrupt central banking proxies, and that the speculative swings in btc price are probably being directed by those who wish to see bitcoin discredited.
Since discrediting btc is the only viable attack they have at their disposal, the price swings make it appear unreliable to those who don't perhaps understand what's happening, he also has a guest explaining the violent btc crashes are instigated by people jumping on the bandwagon driven by greed and quick profits then that greed turns to fear and they sell out and stop trusting in it.
So pretty much like every other form of short term speculative get rich quick scheme, except of course that human behaviour has sweet fa to do with the viability and future of btc..'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0 -
Nice_Weather_For_Ducks wrote: »But Bitcoin is in the end-stage of a bona fide bubble right now.
Actually I think it has a few cycles left, and the poor responses of the exchanges may be a good thing for the cybercurrency. If it takes 3+ months to cash out or exchanges crash with high trading levels, it has a dampening effect on the market meaning it can't reach $0. That means those who couldn't sell but wanted to are still in the game, and holding in case the fabled $2500 comes.
If I were holding BTC now, and looking to get out, I'd be sure I'd worked out how to sell as the exchanges gum up - a fast and certain way to cash out - so I didn't risk holding if/as/when the valuation hurtles/winds back down.0 -
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A retrace was inevitable, although that chart also suggests it is now over-sold. The price seems to have found some support, bouncing off £280 a couple of times in the last few hours. I think this will continue to rise, albeit at a much more leisurely pace.
Invest in the fundamentals, not the hype.0 -
OK, so the price (which no one but those trying to get rich quick care about) has fallen back to where it was a week ago... this is of course totally unprecedented and a clear indication the whole thing is a monumental scam.
Next.'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0 -
MAJOR crash for bitcoin holders
Since sunday the price for BTC has risen. Its spiked then just returned to where it was.
Im sure it can crash but its not happened yet if we cant get a lower price over three days.
Below 200 I think qualifies but I think a proper sell off would leave it below 100
Until it does that, it seems to be a strong market for now.
Maybe its a false dynamic and these Chinese buyers are just betting, I dont know what they are doing really. They seem to be rushing the gates, as usual people are too keen not to miss out. I think they have definite usage for BTC (its communism, its a no brainer surely?) but they really should buy something more solid for the majority of their savings.
Maybe its a few million people just putting 1% into BTC but if its a few thousand putting in 100% of their savings then I do expect prices to reverse quickly0 -
DryHat what point will you buy in at? I am seriously thinking about buying here, but will it go even lower?0
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