For a chartist hence any chart with even anonymous name will give hints and directions.
Bitcoin Top?
- Thread starter trademan1
- Start date
For a chartist hence any chart with even anonymous name will give hints and directions.
Funny, I thought it was bs long ago, watched it collapse, then realized 12000 ago that it was probably a long.
All that time you latecomers have bashed it all the way up. If I knew there were so many haters out there, using the same kindergarten logic, I might have bought some
All that time you latecomers have bashed it all the way up. If I knew there were so many haters out there, using the same kindergarten logic, I might have bought some
Not sure who specifically you are talking to. (I haven't bashed it on the way up, and this is the first time I've commented on it)
Myself, I do not know if it will continue higher or go lower. I'm simply observing for the first time I am witnessing people from outside the normal bitcoin buying demographic wanting to purchase bitcoins. Take from it what you will.
Regarding people bashing bitcoin all the way up, that happens in every investment. Sometimes the bashers are right and sometimes they are wrong. That's what makes a market. Not much to take from that.
Myself, I do not know if it will continue higher or go lower. I'm simply observing for the first time I am witnessing people from outside the normal bitcoin buying demographic wanting to purchase bitcoins. Take from it what you will.
Regarding people bashing bitcoin all the way up, that happens in every investment. Sometimes the bashers are right and sometimes they are wrong. That's what makes a market. Not much to take from that.
Bitcoin believers call it adoption, network growth, or market acceptance. It's a good thing. What the naysayers don't understand is that when no one was using bitcoin, it had no value. Some of the early bitcoin adopters gave away hundreds or thousands of bitcoin to encourage more users.
Now that everyone wants to get in on bitcoin, it's supposed to be a bad thing? ET folks think of it as a stock, that if everyone bought in already, they're all waiting to sell at a higher price.
Bitcoin price has been known to follow Metcalfe's law. Not an expert, but here's a link:
https://seekingalpha.com/article/4129428-5-bitcoin-fallacies-bitcoin-bears
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3078248
Are more people actually using bitcoin recently? Other than as a trading vehicle i mean. Honest question.
Bitcoin is both an investment asset (store of value/digital gold) and a currency. We know how it's performing as an investment asset, but what about bitcoin currency usage? [Personal note: I paid $10,000 worth in airfare tickets last week cheapair.com and also bought a $1,700 ultrabook from NewEgg a few weeks ago]
Here's one payment processor's report (Bitpay):
https://blog.bitpay.com/bitpay-growth-2017/
Have to register to read the first link so couldn't read through it.
There is a fixed amount of bitcoins right? So Bitcoin, whether compared to gold or stocks are still subject to supply and demand whether used/intended as a currency or investment.
If you use a fast appreciating currency to buy things, you are over paying for products and services. So no, smart people don't use it.
Data disagrees with your statement. I posted a link to Bitpay's growth projections and existing usage. People who have profited from their investment or perhaps has an immediate need will spend it.
It's the same if you bought Apple stock and it goes to $1,000 each you might want to go on a vacation trip, so you sell 10 shares, get your cash after a few days, buy the tickets. Except with bitcoin, you don't have to sell for $, you can use it immediately to buy the $10,000 ticket.