I had to look this up. Apparently it means "hold".
Bitcoin Price Thread
- Thread starter Magna
- Start date
They just can't help themselves pointing out the same pluses and minuses, for the most part, every other major currency has - yet believe are unique to Bitcoin.
Uh, I'd say 95% of it
I'm starting to view other coins as shares moreso than currency. Take coindesk for instance, they offer a service and take a fee in turn. When they launch their ICO, you become an unregulated part owner of the company without having to go through the SEC.
One may argue that fake money is hardly an assurance of wealth, but if it's your means of capital funding, it behooves the company to do everything possible to keep the value of their coin high. Now, the added advantage is the fungibility of trading these share-like instruments from different start ups without cashing out and taking a capital gains hit.
I see the ability to use as currency almost secondary now, but it's an added plus.
I suppose Bitcoin is a different animal as no company launched it and it's just a store of wealth. A curiosity that people want to posses much like shiny jewelry. It's all about perception, and until that changes, I don't see Bitcoin coming down.
Do people even know what they are buying?
This looks eerily similar to the tulip bulb mania of 1637 (according to the accounts). At the peak, one bulb of tulip was the yearly wage of 10 people! Not sure what a real 'bitcoin' is worth, but maybe when it gets to the yearly wage of 10 labourers (or about 250K) we will peak - so there is much room left if you are long
Just remember when the run for exits starts, you won't be fast enough!
Its stunning the powers that be have allowed this to go on this long. Blockchain technology - yes great. But bitcoin as a store of value - no way: no store of value rises 100-fold in a couple of years.
Do they know what they are buying? Maybe the geeks and nerds who understand the platform and how the technology works which is probably less than 1% of Bitcoin owners....all the others see is price action and media hype behind each thousand dollar jump in Bitcoin...could it go higher? Sure it can...with bubbles anything and everything is possible but when the drop comes it's going to be significant.....
Let's say you did buy in Bitcoin earlier this year and some how gained 700-900% of your initial investment how much more greedy can you be to expect more Ludacris returns? All huge bubbles come to an end....it's up 50% alone in November and $1000 in the last week how much more do you want out of something that is all speculation....50% in ONE single month.... do you have any idea how long it takes to achieve a 50% return in the s&p and most bitcoiners got that in one month and want more...
Funny how gold at $1800+ some years back was considering outrageous, overvalued and taking everyone by surprise, but some fairytale magical coin at close to $10000 is receiving praise and honor with people jumping buying it up with not an ounce of clue of what it is that they are buying.
Well since FX trading is $5+ trillion (with a "T") daily that means you believe $100 trillion corporate daily trade flow happens, huh?
And approx $265 TRILLION yearly. Bada bing.