Btc will break 3k mark?
I know that we discussed this not to long ago and we were all in awe that btc was at 2500$.
As of today btc is at 2900+$. Its going to break the 3000$ mark most likely this week.
Its amazing to me how fast it has exploded in value but it does make complete sense due to the way 2 other companies have been operating.
I know that there are some investors here at eroids. Do you guys believe that in 3 months we could be looking at 1btc for 4000$.
Is this possible?
My question is should I invest and I can answer it. YES should have gotten in 500$ ago. Now though even though the graph has almost gone straight up should I look into getting a btc to just sit and hold out for the 4000$ mark?
Is btc now a solid stock type investment for the whole investing industry?
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dangerous game bro. Now its extremely unstable
Volatility are concerns for day traders much less so for long term holders. Even the stock market is a "dangerous game"
It's kind of a joke to call the BTC price corrections "Bubbles". The real estate bubble, .com bubble, etc. took years to recover from. The BTC "bubbles" take about a week. Which shows that there is plenty of support in the wings where people see buying opportunities to jump into the market.
Even in the wake of a major price drop of several hundred dollars, BTC & ETH is up 324% & 2,237% for the year and 12% & 69% for the month.
I think I might have one mutual fund that has performed as well in a year, as BTC has just the last month in spite of its massive sell off.
As in stocks, it's risk v reward.
Your portfolio should have a blend of high, low, and moderate risk stocks. Your portfolio should also be a blend of investments, Blue Chip, small company, real estate, precious metal, and cash. I'd add a small percentage of cryptocurrency to that mix.
I believe that every type of stock has a risk but I believe that crypto currency is going to be the next thing investors talk about that they wish they had gotten in.
They already talk about it actually btc was cents per coin originally when it hit 600$ guys that didn't get in talked about missing out now its peaking 3000. I already made my investment.
Sadly I missed this but I imagine some people hit some homeruns when this crash happened.
http://www.coindesk.com/13-ethereum-ether-prices-plunge-2500-gdax-exchan...
looks like another dump just happened down to 1.60
going to look
Here is an article that puts things in perspective and also into perspective about why Bitcoin still has tons of room to grow.
How big is bitcoin, really? This chart puts it all in perspective
http://on.mktw.net/2sBQYgA
Thanks for the links really interesting reads
http://www.newsbtc.com/2017/05/31/blockchain-info-wallet-recommends-us26...
It's BS you can still get a transfer for under $2 in a very short time.
Heck, even for under $1, but it might take a while; a long while if the trade volume is high.
That's one of the reasons there might be a fork in August. The link below explains it quite well.
https://www.eroids.com/comment/reply/135616/2595071
If you use the Electrum wallet, you can send with a low fee. if it seems stuck after you sent it, you can increase the fee.
Likewise, if you are sent a payment that seems stuck and you're impatient, you can add to the fee (kind of like paying postage due).
Thats interesting im going to look into that wallet I use another. I've never had fees as high as the article was saying I hope I never do
This is what scares me are fees getting higher than anything wu or mg ever charged
And it did break 3k today.
Yes I didn't see it but I saw 2967 which was close someone did tell me it happened.
Its just a scare from the lack of trust in other markets right now. I believe it will plain off.
I believe that it will level out or drop but I do see long run it growing more and more
Agreed. With more and more youth glued to their mobile devices feeding for more and more technology. I believe its a good investment, just my opinion supply and demand right..
BTC can be worth $6,000 by the end of the year and into January/February of 2018.
BTC can also have the potential of being worth as much as $100,000 by 2025. Some think $500,000 to $1,000,000 by 2025 if it keeps growing as it has from inception to date.
When the market share of BTC is so wide and popular that everyone around the globe has BTC its growth and volatility will stop. It'll behave more like gold prices and other fiats do today. Ask anyone you see what a Bitcoin, Ether, ripple, or cryptocurrency is, if most or half give you a blank stare, you'll get an idea on how much we are still in the infancy of the cryptocurrency technology.
Odds are, we will create a new vernacular and shortcut to trade in "micro" cryptocurrencies. Instead of trading 0.000001 of BTC we'd refer to a made up coin representing the fraction.
e.g., in ye olden days a bit was worth 12.5 cents. Tomorrow, a "bit" might be $50 worth of Bitcoin -fitting if you know the history of the term "2 bits"... "8 bits a dollar"
"how much is that?"
"2 bits"
There is a risk of a fork which will make BTC drop 50% or more in value, holding on for the long term is still a good bet. (A fork is like a stock split, if you had 10 BTC worth $2000 ea, after the fork you'll have 10 BTC and 10 BTU worth $1000 ea or less)
Some think ETH can out perform BTC and is selling for one tenth the price. Four to six weeks ago I exchanged some BTC and bought 10 ETH when it was $95... it's now over $300.
Brokerage experts keep trying to compare BTC to other stocks and gold. They keep hyping that there is no intrinsic value in BTC and that it is a "ponzi scheme". They are right, BTC is not backed by anything like company assets or precious metals. It is a fiat. Government fiats are also not backed by anything as well and are more like a ponzi scheme as they print more money at will which devalues the currency.
BTC is finite. No more will be created after the last coin has been mined.
Asia just got on board with BTC which equals more demand.
Governments around the globe manipulate their currencies and print more as needed. Which in turn devalues the currency. Over the last 200 years the US dollar has been devalued about 95%
Gold, silver, and diamond prices are manipulated by choking supply.
Around the globe national debts which have been ignored for decades will become a big problem in the near future.
With all the things mentioned above, a global decentralized money system is going to look very attractive for those wanting to protect their wealth.
http://www.investopedia.com/terms/f/fiatmoney.asp?lgl=myfinance-layout-n...
Seeing you saying its a ponzi scheme is what worries me because we all know that one day they come to a crashing end. You mention how govt fiats are basically also a ponzi scheme but they definitely i believe have a more solid base then btc.
What do you think about what meddx said about them possibly manipulating btc to spike then crash. So that they can devalue and destroy the system?
If that isn't what happens i do believe that btc will level off or even drop off but will continue to grow in the long run because it will become a mainstream Internet currency.
Great question...
No one owns BTC or the blockchain. The decentralization makes it harder to manipulate than the Fed printing out more money and setting the interest rates.
Right now BTC is a small market. so someone, or several someones selling off bitcoin has a big impact on the price. If you buy BTC today for $3000 as an investment for your kids college fund and it hits a fork and because of uncertainty and the face value drop (think stock split) and it's new value is $80 you will lose out if you are forced to sell when it is still devalued and you need it. Or, if people lost faith in BTC and went to a different crypto currency or bailed on crypto currency altogether.
The quick rebound in price when it crashes is an indication there is a considerable interest in BTC. as well as the creation of new wallets. that chart looks like the valuation chart; a bell curve climbing rapidly. New wallets mean new holders of BTC.
As more people buy and control BTC it will not be as volatile. A 2% sell off won't even be a ripple whereas today it can be dramatic. We will also be at the top of the bell curve. where the value will be stable and level out to a modest annual 2% to 3% inflationary growth.
Look at Greece if you want to see what a failed fiat looks like in modern times. Think of how bad it could have been without the EU and world bank stepping in. Practically every country has a debt to GDP ratio that is unsustainable. Japan is near the top, The US in the top 20.
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For arguments sake, let's assume BTC becomes the cryptocurrency of the future. it's 2030, BTC has been around for over 15 years, it is at the top of the bell curve. It is a modestly used global currency not unlike the EURO is to the EU member states.
It's volatility has become nonexistent, It is easily traded around the world. When you flew to bangkok for vacation, you don't worry about exchange rates, bank fees, traveling with large amounts of cash, or restrictions on how much you are allowed to travel with. you pull out your smartphone or crypto wallet and buy anything you need in BTC. no longer are you trying to convert BAHT into USD in your head.
When you return home from vacation the news is the same as it has been for the last year or so. Japan is seeking a bailout. The US is Arguing about having to do something about the 30 Trillion dollar debt republicans saying we can outgrow it, dems saying that we need to have a 70% tax rate, William Devane is telling you to buy gold, and economists are bearish about the markets, the strength of the dollar, and telling you to invest in China. China converted to a BTC backed fiat in 2020 and has the only trusted government fiat.
So, what is your 50 year old self going to do? Is he going to look back and wish he had just bought 1 coin back in 2017 when it was worth $2800. Not the $1,000,000 it is today.
worth a MIL in currency it is replacing?
There are many countries that have ridiculous bills ranging from 1000 to 10,000 (maybe more) and up because the VALUE of the currency is low.
A million pesos is not worth much compared to a million USD in its current state but what happens to the value of the BTC if the currency it is shacked up against (the very one it is poised to hopefully replace) tanks?
I do believe there are still some great potential times ahead for it but the next crash is likely to be VERY large and will cause further drops (unless of course someone is manipulating the trading since its already been explained that a smaller number of people actually own it) and many will jump ship that are novices.
The ones who gain are the ones who potentially (just like in early USA history before regulations to the stock exchange) cause the manipulation then in the frenzy of selling buy more and more of it as it gets cheaper thus stiffing the negative effect within hours!
This would not be the first time it happens and to say it won't or is unlikely is very risky as is all investing.
No one thought they would get ripped off in the early days of stock exchange, or madoffs time or any of the other thousands of times when a small few are ABLE to manipulate the value of a product/currency by owning the largest shares.
Keeping things in perspective.
Nothing wrong with speculation and investing but that is what it is...speculation.
Luck and timing play a large role when you re not a HUGE investor who can easily manipulate (legally or otherwise) said stock/currency as has been done and will continue to be done in future.
I am personally looking forward to the big crashes to come.
That way when people start running I can start buying!!!
Thank you...very informative...
Bubbles,.......... are risky investment strategies.
Just sayin.
Yes indeed.
You have to be in the right place at the start and when it crashes to buy it up!
Right now...we are well past the start and buying to hold and sell is why the bubble is creeping in faster.
It could take 1-5-10+yrs (much harder to determine unlike real estate) but as everyone knows, risk is unavoidable.
One thing for certain about property...we certainly are not able to make anymore than is already available!
...unless you're in Dubai ;)
Thing people are missing is, as BFG has been pointing out, this is a technology, the coin is a by product.
Want to invest but afraid to lose out?
Buy one coin (ETH or BTH)
wait until the price doubles
sell half your coin.
There, you are made whole. and now you have 1/2 coin to forget about until 2020.
No worries, there is nothing at stake any more, it's just "fake money", a "ponzi scheme", it has no "intrinsic value".
In 2020 open your wallet; pick up your jaw that just fell to the floor; cash out.
Hmmm... intrinsic value now sitting in your bank account. Who says you can't make something from nothing?
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Imagine never having to go to a bank, hospital, or utility, and have to fill out the same forms over and over. All these institutions have there own database "ledger". If you change banks, you fill out a new form. If you change doctors, forms are filled out to request your electronic medical records from the previous doctor/hospital. If the institution gets hacked (remember target?), or attacked (DDoS) your information is compromised or unattainable.
Enter the blockchain. Where the ledger is decentralized. You provide an access key (token, "coin") to the entity and all your records are instantly there. This is an example of just one "non currency" application that can be used on the blockchain.
Yes, if everyone had a crystal ball or had/was willing to gamble on Microsoft and/or Apple they too would have been sitting pretty.
I've risked plenty of money and won most of the time and as you stated it really isn't rocket science to invest and keep pulling out enough to obtain your original investment back so you are riding for free.
Been there several times successfully in other investments.
The challenge is, that it is so mainstream now that it is clearly closer to its first (of hopefully many) bubble bursts which will hit many hard.
To believe in someone else who has ZERO ability to speculate better than most average people and say it will be a year, 5, 10 or more before that occurs is up to the individual investor.
By all means, buy a coin and pray it holds up long enough to pull some out much less reach that magic "million dollar" marker many are hoping for.
Good luck.
There have been about 5 "bubbles" in the last 8 weeks. In fact, the last one is "popping" now.
I will hazard to guess, it'll follow the same trend the last few times. BTC and Eth have dropped significantly and are probably near their new lows. once they bottom out, over the next week they'll climb steadily to match their old highs, then they'll take off, pop, lose half their gains, repeat.
I say once it doubles buy another half I really believe that long term it will only keep going up.
I still remember hearing stories about people that bought btc when no one ever heard of it then it was worth 600$ a coin.
I can't wait to hear I bought it at 2500 and now its worth 10,000.
Maybe im dreaming big but I believe it will happen
As an investor I def see the potential of the block chain.
My rant is specific to btc etc.
Anyway, no time to chat further when everything/answers will remain the same.
Just everyone take a good look on the cryptocurrency BILL that is on its way and how it may effect the cryptocurrency specific purchases.
If everything is open to the government to keep an eye on than requiring just crypto currency or a preference to the point of only offering discounts using that form of payment is moot.
I think with bitcoin it is hard for us to wrap our minds around how big it is and how much potential is still there. It is not real eastate abd it is not the stock market.
The blockchain is def infinite its usefulness...my beef with is specific to the cryptocurrency payment requirements that some of my favorite merchants are requiring or favoring in lieu of alternate payment options.
Its tough enough seeing $$$ fly out the window to pay for sending (more than crypto anyway) but to then be taxed a fee and/or see only one form of payment offer promos for its use, that is why I ranted a little.
As an investor I open to many types of opportunities and have no issue seeing there is a BIG picture with block-chain itself.
Cryptocurrency "mania" is the focus of this thread.
Everything has risks, but if you ever want to break the chains you will have to be willing to stick your neck out.
I feel the same way.
I agree this graph going straight up has to fall down at some point
Ive been watching this and like medx says if you notice a downward trend get what u need while you can. There have been big changes in btc since it was created. It is now more main stream, at least in some asian countries. In Japan for example more and more brick and mortar co are acceptng btc as payment. And if you have the balls to do it you can tie your 401k to btc. Pay attention to the news. If there is a big bust say like when they shut down silk road and it is reported people paid with btc the price will drop. Anyway it has been interesting for sure watching it climb like it has. I check my wallet daily to see where its at. Im following ether also. That has exploded over the past few months. At the beginning of the year it was $14 now its around $300. Hopefully more wi start acceptlng this as payment as well.
I keep hearing about ether also some brick and mortar business in my area allow you to pay with btc
It can drop, just as quick as it has increased. When, or if, it does the goods and services purchased with the btc, will cause a shortage in supply (of some products). I have been thinking that the marked increase is a plan to disrupt the btc infrastructure. Keep your eye on the btc daily. If it starts to decrease quickly, get what you need, so you can keep what you made.
Interested to hear other viewpoints as well...
one financial strategy is to invest your $3000: An amount you're willing to lose. You have 1 coin.
When the price reaches $6000, sell half. You have your seed money back from here out, there is no real loss. Let the rest ride or...
When your half coin is valued at $6000 sell half. You now have a 1/4 coin and have made a 100% profit on your original $3000.
If you want, repeat: 1/8 = $3000; 1/16 = $3000; 1/32 = $3000 1/64 = $3000
That's $15,000 in your hand and you still have a 1/64 coin to let ride or split into 1/128th of a coin.
And if at any time the "ponzi scheme" busts, you never have more than $6000 invested, you recovered your principal investment, and depending on your risk tolerance, made(or loss) a considerable amount as well.
I'm following you...I just have lower amounts...in 2 different wallets that I'm watching...both amounts have increased, since the increase in BTC...and I get an idea what I can do now...
thank you!
Something has always told me to stat away from btc. Don't know why really. I just don't trust it. I truly feel like it's going to crumble to ashes. Who knows I could be wrong. Only time will tell. I'll never use it unless I have no other choice.
I understand. I didn't have a choice. If I wanted a certain product, I had to use BTC to get it. It took me 3 weeks to learn it and that was over a year ago. I believe I'm more diversified, since getting involved, plus I have way more to learn.
That something that spoke to you was what they call FUD, Fear Uncertainty and Doubt.
Bitcoin as a currency may fail but the technology behind it - the blockchain, will not. Blockchain is already being used and supported by tech giants like Microsoft, Google, IBM. Banks are adopting blockchain for internal use, and so on.
I've never been an investor. So, I've been hit with seeing the BTC increase off of small $ left over in my wallets. I can say one thing, though, I've never had a return on an unintended investment occur so rapidly and doubled, too. Risk versus reward, for me, is not too bad when the amounts stay low. Also, for peace of mind, I can do what Greg suggested and get the initial amount I started with out, then focus on obtaining smaller fractions. True about the technology, which I didn't know about the tech giants, but makes perfect sense getting on board, defying complacency and adapting to change. Do you believe WalMart could be next to accept BTC?
On the app I use its not accepted by Amazon but the app actually gives you a 20% discount if you pay for your order from amazon with btc. It has all sorts of restaurants and bars. It won't be long before there is a currency strictly used for world wide shopping on the Internet it could be btc or it could be another. I believe that this will eventually happen to get rid of currency exchange rates while shopping online
The BFG!
Edit: What are your thoughts on XRP? Is it worth it?
I'm holding 1000 XRP bought at 25 cent (with BTC). I doubt it'll go anywhere soon. If/when it does, maybe you'll see a price range between $1 and $4 by this time next year. Still, not a bad return.
Fantastic return.
Thats what I want to see if guys here think that 1 day it will just fall off and then be worth nothing. It definitely could be being manipulated by you know who to destroy the trust of btc in the end.
A investor once said "I knew it was a scam as soon as I saw that the graph only went up"
This was bernie madoffs company he was speaking about so the straight up gains it has made do worry me