$2700 to $2050. If Bitcoin experiences a huge crash, the stock market and real estate markets will crash will be right behind it. Sounds dumb but watch and see.Quote:
Originally Posted by GringoStar
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$2700 to $2050. If Bitcoin experiences a huge crash, the stock market and real estate markets will crash will be right behind it. Sounds dumb but watch and see.Quote:
Originally Posted by GringoStar
Sounds more reactionary than dumb. I don't see Bitcoin crashing being anything more than the canary in the coal mine, at most. But if BTC crashes, it's not like it's over for Crypto. BTC could very well be Netscape Navigator and we haven't even approached the era of Google yet.Quote:
Originally Posted by snake_in_the_ass
@snake
I would say quite the opposite, if RE and Markets crashed then BTC crashes right along as that investment money pulls out of crypto because of RE and market loses.
BTC is NOT a storage of wealth, not tangible and certainly not broad enough or large enough to affect RE and Markets on it's own.
Right now its a drop in the bucket still.
I think BTC is just a reflection of the current state of the stock & real estate market. Valuations are so outrageous that anything and everything is bid up, including some virtual coin created in the basement of some dude's house.Quote:
Originally Posted by DonaldTrumpsHairPiece
Quote:
Originally Posted by snake_in_the_assI think BTC is just a reflection of the current state of the stock & real estate market. Valuations are so outrageous that anything and everything is bid up, including some virtual coin created in the basement of some dude's house.Quote:
Originally Posted by DonaldTrumpsHairPiece
Possibly also because the market is very thin, so the smallest change in buy or sell orders whipsaws the price.
I dumped the remainder of my coin the other day near the high so a nice strong dip is fine by me, may jump back on that. Issue now is jump on it now or 19 or 18 or 17 etc ? Some say could dive to 1200.
When the premium on $GBTC gets to 20% or lower, that will be a bottom. The current premium is over 100%.
Quote:
Originally Posted by snake_in_the_ass
So what 12? in your opinion.
The homepage for $GBTC is https://grayscale.co/bitcoin-investment-trust/Quote:
Originally Posted by DonaldTrumpsHairPieceQuote:
Originally Posted by snake_in_the_ass
So what 12? in your opinion.
If you go to that site and look at the bottom left it will tell you what the ratio is for bitcoin per share:
Bitcoin per Share = 0.09306347
If you use Bitstamp for the price of Bitcoin, $2149 x .09306347 = $199.99/share. $GBTC is currently trading at $405/share. It is over a 100%. When the premium is high, and in this case it is unusually high, that means investor sentiment is through the roof. That is when you want to sell. When the premium gets to 20% or lower, that means sentiment has gone sour and should be a bottom. Just something I have noticed watching $GBTC. I have made some decent money trading it and bitcoin itself.
Thanks
$100 worth of bitcoins in 2010 is worth $73 million today.
Is it possible that people back then who had $100 or w/e worth of bitcoin, then died. Now have $100+ million just sitting there without any family members realizing that they're mega millionaires?
Of course, I would guess at least 1 person who spent $100 on bitcoin in 2010 has died within the last 7+ years. Did they share that info with a family member, that depends when they died. Its possible if they died early on then no but later on then yes.
This is the first time I've seen btc and Ltc trending down, while etc is trending up. From my limited speculation, buy a btc or 2, sell when they go up $300, or buy 5 etc and 25 ltc, sell when I make $500, this is the first time I've seen this occur. They all generally seem
to head the same direction at the same time. Maybe just a blip, but I was starting to think they all traded on pure pscychology, and no fundamentals beyond crypto belief, but the past few days movement made me curious if some btc backing is moving slowly over. I know donkdowndied mentioned being more bullish on etc. He's caught a lot of shit here, but he's been on far more often than off thus far on this subject. If anything, he's generally been far more conservative than the straight bulls on other sites.
Edit- clearly meant eth, not etc, that's the old one
Death is unlikely, since the early collectors of bitcoin were mostly younger people, and they also would have seen the run-up in 2013.Quote:
Originally Posted by Lord of the Fraud
What is more likely is "lost" bitcoins -- ones stored offline on failed hardware.
Khalwat mentioned on radio that he had a number of bitcoin on a computer he used in a work environment, which is now "in a landfill somewhere" and is now inaccessible, perhaps with as much as $100,000 of bitcoin on it.
You read a lot of allusions to the percentage of idle or lost bitcoins out there. It is inferred that somehow this offers a kind of price support.
The fact is Bitcoin are worth what the last trade says they are worth.
If Sonatine asks 1 cent and I bid 1 cent then they are worth 1 cent - at least for that brief moment of clarity.
Maybe the market becomes thinner and thinner. Fewer people control the price. (We are seeing a thin market now comparatively)
Lost coins lower the market cap a bit for an unknown amount. Price of coins reflect their non existance so you can't just multiply the price with every coin that has ever been mined, but it's nothing really significant. Altcoins being 50% of the market lost coins are even less of an issue now than it was few months ago when btc was still 80% of the whole market.Quote:
Originally Posted by Sanlmar
Idle coins on the other hand are kinda worrisome in a might start a panic sell type off way once they start moving and there's no true incentive (like dividends) for people to keep them dormant.
Quote:
Originally Posted by Dan DruffDeath is unlikely, since the early collectors of bitcoin were mostly younger people, and they also would have seen the run-up in 2013.Quote:
Originally Posted by Lord of the Fraud
What is more likely is "lost" bitcoins -- ones stored offline on failed hardware.
Khalwat mentioned on radio that he had a number of bitcoin on a computer he used in a work environment, which is now "in a landfill somewhere" and is now inaccessible, perhaps with as much as $100,000 of bitcoin on it.
http://www.nbcnews.com/news/other/it...on-f2D11669738
7500 btc = $15,000,000 rotting in a landfill someplace.
Quote:
Originally Posted by Sanlmar
I think I have shared this pyramid before would have to look for it again. Make no mistake the distribution pyramid is sick, basically XXXX people rule the bitcoin world.
I have no idea if there is an out at some point but several hundred people made sick money on this and are laughing at the nerds and the pump.
On a side note I jumped into ETH big, got that gut feeling its still relatively cheap enough to jump massively regardless or in light of the price of BTC. I'm no CMONEY but then again may be a good thing lol
The bargain hunters or more likely bagholders showed up today. Did over $10,000 volume today in the ATM.
Don't you wonder if it wasn't one guy?Quote:
Originally Posted by snake_in_the_ass
He needs to see a $200 rise just to break even. Could well be an online gambler too.
Appreciate your story. Keep posting it