Bitcoin's and the future of online banking - Page 15

Even if you think bitcoins will be the future of money its just dumb not to sell on these bubbles, thats where most profits are done, its not by holding into a super long term valuable stock, its to just outsmart others and buy cheap and sell expensive, so you sell on the bubble and if you still believe in the long term value of bitcoins then buy them cheaper.

On November 19 2013 23:35 Baalim wrote: Even if you think bitcoins will be the future of money its just dumb not to sell on these bubbles,

You can't say with 100% certainty that this is a bubble. I have almost no idea how to price a bitcoin and too be honest from what I have read I don't think anyone else does either (someone correct me if I'm wrong and they have some good sources because I'd like to read them). So without an intrinsic price what is a good price and what is a bad price? This is why I have a problem with bubble talk because for it to be a bubble what do you think is a fair underlying price and what do you base it on? I mean has the bubble popped now that it's down from $900?

thats where most profits are done, its not by holding into a super long term valuable stock,

Buying and holding is a legitimate strategy employed by many investors in other markets. If you think the price of a bitcoin will be $200,000 in the future then getting in at $500 or $600 doesn't matter too much (being "in" and not getting priced out is the point here).

its to just outsmart others and buy cheap and sell expensive, so you sell on the bubble and if you still believe in the long term value of bitcoins then buy them cheaper.

Buying cheap and selling expensive is a good strategy, I'd recommend it for everyone Your strategy here relies on the fact that the market will go up and down and that you can pick it. Market timing is...difficult, most say impossible. So for example you think the bottom of a bitcoin is $300, it goes to $300 and you buy as many as you can afford (using the money from selling higher previously). But it keeps going down and hits bottom at $50 where it stays for 6 months. Now what do you do? Sure you can keep holding them but an opportunity cost is involved.

As for competition to bitcoins here is a list of crypto currencies http://coinchoose.com/. How good/bad these alternatives are I don't know. Some are meant to be pretty much exactly the same from what I have read?

On November 17 2013 18:39 Emi wrote: However, to me it is really funny that from the couple of post you are suggesting Fucktion is a financial guy and that I am not.

Firstly, haha "Fucktion". Secondly I have a finance degree, so Cariadon is correct.

In relation to theft this happened here just the other week: http://www.smh.com.au/it-pro/security-it/australian-bitcoin-bank-hacked-1m-stolen-20131108-hv2iv.html

On November 15 2013 10:05 Emi wrote: We might see some small crashs

Is $900 to $450 still small?

Bitcoins give me a headache there are just too many variables that are shrouded in mystery.

yeah considering bitcoins were 100$ like 2 month ago and 300$ two weeks ago 900 to 450 is not a big deal really.

umm not sure what u are looking for so a tl/dr from a starting general perspective. .

-The fed is against competition but embraces the virtual fiat currency idea of bitcoin
- I embrace competition but dislike the fiat currency structure of bitcoin

basically watch for the fed to do something similar as to what is happening with online poker - that is beat it down just enough til tptb can regulate the transactions and tap it to their satisfaction here at home while setting the standard abroad

change setting to influencing

http://www.bloomberg.com/video/gaming...in-mining-KDF7sRuQSCu~ipbphLlfvg.html

http://startupboy.com/2013/11/07/bitcoin-the-internet-of-money/

1k during the weekend? Wanna take a small bet? :D

Just buy 1 bitcoin. In 10 years a house will probably be like .5 bitcoins lolz

1.1k wtf. Will it ever stop?

Considering trends probably not. Maybe go back down a little but its just gonna keep on going. Specially with the way inflation is. And considering .waht happen in cyprus, if it ever happens in America or any other country shits gonna go through the roof.

>tfw LTC/BTC went up even higher
>tfw I couldn't find any contracts to go long

On November 28 2013 04:15 napoleono wrote: 1.1k wtf. Will it ever stop?

It'll go up a little more, probably like 1.5k, then crash over the period of a couple of days to around 700 and float there stable for awhile, but perpetually dropping month after month to around 200. In about 3 years they'll be worth about $50 each.

I'll short 10 @ 200 3 years from now. You in? :D

On November 20 2013 05:00 Funktion wrote: Show nested quote + On November 19 2013 23:35 Baalim wrote: Even if you think bitcoins will be the future of money its just dumb not to sell on these bubbles, You can't say with 100% certainty that this is a bubble. I have almost no idea how to price a bitcoin and too be honest from what I have read I don't think anyone else does either (someone correct me if I'm wrong and they have some good sources because I'd like to read them). So without an intrinsic price what is a good price and what is a bad price? This is why I have a problem with bubble talk because for it to be a bubble what do you think is a fair underlying price and what do you base it on? I mean has the bubble popped now that it's down from $900?   thats where most profits are done, its not by holding into a super long term valuable stock, Buying and holding is a legitimate strategy employed by many investors in other markets. If you think the price of a bitcoin will be $200,000 in the future then getting in at $500 or $600 doesn't matter too much (being "in" and not getting priced out is the point here).   its to just outsmart others and buy cheap and sell expensive, so you sell on the bubble and if you still believe in the long term value of bitcoins then buy them cheaper. Buying cheap and selling expensive is a good strategy, I'd recommend it for everyone Your strategy here relies on the fact that the market will go up and down and that you can pick it. Market timing is...difficult, most say impossible. So for example you think the bottom of a bitcoin is $300, it goes to $300 and you buy as many as you can afford (using the money from selling higher previously). But it keeps going down and hits bottom at $50 where it stays for 6 months. Now what do you do? Sure you can keep holding them but an opportunity cost is involved. As for competition to bitcoins here is a list of crypto currencies http://coinchoose.com/. How good/bad these alternatives are I don't know. Some are meant to be pretty much exactly the same from what I have read?   On November 17 2013 18:39 Emi wrote: However, to me it is really funny that from the couple of post you are suggesting Fucktion is a financial guy and that I am not. Firstly, haha "Fucktion". Secondly I have a finance degree, so Cariadon is correct. In relation to theft this happened here just the other week: http://www.smh.com.au/it-pro/security-it/australian-bitcoin-bank-hacked-1m-stolen-20131108-hv2iv.html   On November 15 2013 10:05 Emi wrote: We might see some small crashs Is $900 to $450 still small? Bitcoins give me a headache there are just too many variables that are shrouded in mystery.

I cant say with 100% certanty that a black hole wont destroy the earth tomorrow... but im pretty sure it wont, same as Bitcoins, im pretty sure this is a bubble and i think anybody with a clue knows that too, what is unknown for almost everyone is how big it will be before it bursts, these prices are artifically inflated by people like us rushing to buy some bitcoins to make a quick buck, then the mass selling will begin and thus the crash.

And yes i believe there is value in holding to them, but there is more value in selling at the top of the bubble and re-buy at the valley of the crash, as you said its a very difficult thing to do, but to hold on to a stock when its well known its a bubble its just stupid, if i had money in bitcoins i would sell withouth thinking twice, maybe If i hold longer i would have made more money but i wouldnt gamble it, sell on bubble and if I still think theres value in bitcoins i would re-buy at what I think will be the lowest point

You never know when / at what value it will crash. For example yes I could sell now at 1200 and it will be good if it crash to 600. But what if it goes to 3000 before crashing to 1800 only ? I ll just look stupid.

From an "historical" perspective, when the price went from 10$ to 260$ in a span of a few month earlier this year, it only crashed back to 55$, so far far far from its initial price. I have friends who sold at 20, 30$, 40$ etc. because it was obviously growing sickingly fast and they of course missed as well the "one hour" or so time frame to buy back at 50$ so they kinda had no choice but to buy back at 100$ or more if they still wanted in afterwards

To resume I kinda agree with funktion, obviously buying at bottom and selling at top is perfect but it is virtually undoable and the fact that it is increasing fast right now does not even mean that a lower value could ever be reached.

On November 29 2013 05:29 Baalim wrote: I cant say with 100% certanty that a black hole wont destroy the earth tomorrow... but im pretty sure it wont, same as Bitcoins, im pretty sure this is a bubble and i think anybody with a clue knows that too, what is unknown for almost everyone is how big it will be before it bursts, these prices are artifically inflated by people like us rushing to buy some bitcoins to make a quick buck, then the mass selling will begin and thus the crash.

What makes you "pretty sure"?

What stops people from making other bitcoin-type currency? I mean yeah the algorithm they used must be pretty cool and they are geniuses, but there's plenty of other geniuses out there, what stops other people from making their own bitcoin? Surely when this happens original bitcoins value must drop dramatically

Bitcoin is open source so literally nothing, and there are already a bunch of other versions/modifications/"improved versions" out there. many have been around quite a while now

http://www.theguardian.com/technology...ernatives-future-currency-investments

None of this has had any significant negative impact on the bitcoin price but many of them have blown up in value as a result of bitcoin leading the way

Is it really a good way to send money overseas efficiently? For now you still have to convert BTC to/from local currency since you can't buy anything with it and it's too risky as a store of value due to massive exchange rate volatility. If you're transferring $2k worth of BTC at current prices to a buddy in a diff country, the total amount lost in fees if you buy at mtgox and ur buddy sells at mtgox will be $24.

How much do regular international payments cost in your country? For me it's a flat fee but it becomes cheaper than this kind of BTC transfer as the amounts get higher than around $2.5k