Bitcoin Price Thread

[johnarb]

I did predict the very top and subsequent huge drop in this very thread, so you might want to listen when I am knowing something...

You've made many calls on bitcoin, though

This one below from 2015 was a good one. A bounce from $190 but not a trade, but a long term hold, would have yielded quite a bit of returns.

50% drop in 2 weeks, Bitstamp clocked $152 overnight. Here is a fundamental problem: The cheaper the price, miners are more inclined to cash out to pay for ongoing cost like electricity, further depressing the price...

Could be good price (around 190 now) for a bounce...

 

[Pekelo]

Well, I was dead sure about the December top. That was like the Porsche short squeeze in 2008, it had to come down...

 

[Illini Trader]

The thing is, none of your fundamental arguments make any sense

Like @johnarb says, this is where we disagree

 

[Pekelo]

Like @johnarb says, this is where we disagree

The explanation is simple, whatever you say about BTC can be also said about dozens of other coins. So you simply can't argue for BTC without arguing for BCH, ETH or Dogie...

And no, no coins is unique, limited (forks, hello) or irreplacable, those are false claims.

 

[Illini Trader]

Just because you signed up for the bitcoin ponzi that doesn't mean the Dogecoin ponzi isn't as good...

Strange thing, I have not heard the Dogecoin price quoted on the news when they give the stock index quotes and the Bitcoin price.

 

[Pekelo]

Dogecoin price.

Only ponzi runners use the "price argument" as a valid logical thought. I thought you were for generally crypto currencies...

What is more important, a high price or wide spread usage and adoption?

 

[Illini Trader]

Only ponzi runners use the "price argument" as a valid logical thought. I thought you were for generally crypto currencies...

What is more important, a high price or wide spread usage and adoption?

Most coins are pure trash and will go to zero, just people trying to cash in. Other coins are more like dot com stock offerings trying to use the blockchain for a specific business purpose and most of those will fail as well. Our premise is that Bitcoin is an established store of wealth world wide and will survive this bear market. Its fork Litecoin will also survive. They are the Gold and Silver of the Cryptos.

This is a forum and discussion. Your differing opinions are valued and may point out some things that I have missed but I am just disappointed at the superiority tone and insulting language used by several recent posters.

Why can't everyone have some class, maybe just 1% of the class that Xela and Handle have?

 

[Pekelo]

Most coins are pure trash and will go to zero,

disappointed at the superiority tone and insulting language

So you first trash most of the cryptos (rightfully so if I might add), then you want preferred treatment for your favorite ones??? The gold and silver analogy is only PR.

Again, whatever negative argument you use against other cryptos, they can be said about Bitcoin too.

Anyhow, the horse is dead now...

 

[Illini Trader]

So you first trash most of the cryptos (rightfully so if I might add), then you want preferred treatment for your favorite ones??? The gold and silver analogy is only PR.

Again, whatever negative argument you use against other cryptos, they can be said about Bitcoin too.

Anyhow, the horse is dead now...

One man's dead horse is another man's triple crown winner. As johnarb pointed out you were negative on Bitcoin at $152. I wonder if you are just bitter about missing out on a $152 investment that is now worth $6,500. Quite a gallop for a "dead horse"

 

[dozu888]

Most coins are pure trash and will go to zero, just people trying to cash in. Other coins are more like dot com stock offerings trying to use the blockchain for a specific business purpose and most of those will fail as well. Our premise is that Bitcoin is an established store of wealth world wide and will survive this bear market. Its fork Litecoin will also survive. They are the Gold and Silver of the Cryptos.

This is a forum and discussion. Your differing opinions are valued and may point out some things that I have missed but I am just disappointed at the superiority tone and insulting language used by several recent posters.

Why can't everyone have some class, maybe just 1% of the class that Xela and Handle have?

there is a cannibalism effect.. so this argument has some merit... just like anybody can create an auction site, but everybody is still doing business on ebay.

that being said, I haven't heard any of the longs comment on the fact that right now retail is overly crowded on the long side on both gold and btc... what I call 'death sentences'. no offense but retail is absolutely the dumbest money and it is an excellent contrarian indicator when it's so crowded on 1 side.... in 2016/2017, retail traders were overwhelmingly short, 1:9 to 1:8 or so on sp500.