Bitcoin Price Thread

There you go...party is over....all of you thought it was decentralized and would not be touched by government hands but here we have Mr dimon making a call that all cryptocurrency will be controlled by government....oh well...have fun while it lasts because it's not going to last all that long....




Today, Jan. 9. the Chairman & CEO of JPMorgan Chase, Jamie Dimon, spoke pessimistically about the viability of decentralized cryptocurrency, predicting that all digital currencies will eventually be fiat, or government-controlled. Dimon made the comments today at the JPMorgan Health Care Conference in San Francisco.
 
Sprout said:
How did you arrive at determining a fundamental value for BTC?
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I don't. I let the market do it. If the market says it's worth $1 tomorrow, there's nothing I can do, just as if the market prices it at $20K.
 
johnarb said:
I'm the wrong guy to defend the daily transaction idea for bitcoin as I'm on the digital gold/store of value investment asset camp.

Bitcoin wallet is akin to running a bank, as such, it has to be very secure. Security and convenience are opposite of each other. The easiest way to use bitcoin is by using light wallets such as an android or ios app. I used to have 2-3 btc's on my android wallet back when the price was low just in case I walk into a place where they accept bitcoin as payment. It was a novelty item, an experiment. Nowadays, I would not trust an android wallet with that much btc's and usually have between .2btc to .5btc.

Still, it doesn't make sense to spend $4 for coffee and pay $11 in transaction fees. Bitcoin's success (as measured in the $ price) is a curse if used for small transactions. Personally, I only use bitcoin as payment if the amount is over $100 and I lower the fees to about $8. I used to be a bitcoin miner and the miners have a role in the bitcoin network by securing it and I don't mind paying transaction fees for their service.
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Use bitcoin to make purchases over $100 and pay an $8 fee to do so...haaaaaa
Why why why.....that's just ludacris....
To pay any kind of fee to use bitcoin for a transaction you could have paid in cash is just worthless

Again buying real money to buy fake money and then pay a transaction fee on top of that.... this makes absolutely zero sense.....
 
Being a scarce commodity, having a volume considered in sales, the new holders are frightened and put in their own offers, which makes the price come down, this is where the opportunity seekers enter and try to take over As much as possible, the price stabilizes, and returns to its normal course
 
You know it's a bubble when a 100+ year old company has to jump in on the trend....what a pathetic world we live in....

Who the FU©k would buy Kodak coin.... enough of this garbage.....soon every company will release their own coin...apple coin...Netflix coin...coscto coin....Exxon coin....Macy's coin...... chipolte coin..... Pfizer coin.......it will be a world full of coins......

130-year-old Eastman Kodak joins cryptocurrency craze with 'KodakCoin'; shares surge
  • The company said it has used blockchain to create a new platform for digital photography with its own digital currency., called KodakCoin.
  • Eastman Kodak's stock surged more than 30 percent on the announcement to over $4 a share.

https://www.cnbc.com/2018/01/09/kodak-joins-cryptocraze-with-digital-photo-licensing-site.html
 
johnarb said:
I don't. I let the market do it. If the market says it's worth $1 tomorrow, there's nothing I can do, just as if the market prices it at $20K.
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Market value is distinct from fundamental value.

My interpretation of your perspective, is that you make no distinction between the two.

Since fundamental value's are at best estimates, it sounds like you have no rationale by which to form an opinion other than looking at the market and seeing what BTC is trading for today.

Is this correct?
 
S2007S said:
You know it's a bubble when a 100+ year old company has to jump in on the trend....what a pathetic world we live in....

Who the FU©k would buy Kodak coin.... enough of this garbage.....soon every company will release their own coin...apple coin...Netflix coin...coscto coin....Exxon coin....Macy's coin...... chipolte coin..... Pfizer coin.......it will be a world full of coins......

130-year-old Eastman Kodak joins cryptocurrency craze with 'KodakCoin'; shares surge
  • The company said it has used blockchain to create a new platform for digital photography with its own digital currency., called KodakCoin.
  • Eastman Kodak's stock surged more than 30 percent on the announcement to over $4 a share.

https://www.cnbc.com/2018/01/09/kodak-joins-cryptocraze-with-digital-photo-licensing-site.html
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You can just short bitcoin futures directly.
 
Sprout said:
Market value is distinct from fundamental value.

My interpretation of your perspective, is that you make no distinction between the two.

Since fundamental value's are at best estimates, it sounds like you have no rationale by which to form an opinion other than looking at the market and seeing what BTC is trading for today.

Is this correct?
More...

Since I've explained I'm on the camp of the digital gold/SoV investment asset camp, the fundamental valuation I have on my mind is easy to define. Say 50% of valuation of the gold's cumulative value, about $3.5 Trillion give or take. Store of Value, "underground" wealth is harder as I don't have the figures on that. Imagine the Paradise Papers leak and let's say 25% of that value that's trying to be invested "anonymously" and then the whole thing became public. How about Swiss bank accounts that could migrate to Bitcoin.

But who knows, right? Why value Bitcoin's market cap at half of a yellow metal's when bitcoin is clearly superior :)

[edit: I should have been clear, these are all cumulative values for each use-case, so f*ck it, fundamental value for bitcoin's market cap in my view is about $15 Trillion give or take $2 Trillion]
 
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