Quote from: Snorek on November 04, 2016, 03:37:40 AM

The problem I see with your theory is that you are presenting graphs of stock market to back it up.
And while general principles of trading stock and BTC might be the same at first glance stock market is fully regulated environment.
Bitcoin isn't and here lies the problem with people losing faith when negative legislation is being pushed.

I wrote my rebuttal to you before you wrote your comment:

Quote from: iamnotback on November 04, 2016, 02:56:43 AM

Quote from: OROBTC on November 03, 2016, 02:03:31 AM

...

I don't know what to think about Bitcoin. Yes, it has made another nice move, it's around $740 now, up a nice meaty 14% or so in a week or so.

But, as the constant bickering of TPTB in Bitcoinistan continues to bother me (hard forks, etc.), well I don't know if I trust the system to remain intact. Granted, my use of BTC has been "dual-use" (spend some, throw some into cold storage -- insulates me a bit vs. the high premiums I have had to pay at BTC ATMs). Nonetheless, the risky-seeming & perhaps rickety BTC system gives me some willies...

Since I am not a programmer nor know much about Bitcoin's internal workings, perhaps my concerns are unwarranted.

The technical issues in crypto-currency will get worked out over time. There will be numerous scares and potential roadblocks along the way. Bitcoin is the most likely contender for the crypto-currency that everyone uses and until and if that changes, then Bitcoin must be assumed to be the one which will model the price curves displayed in the following quote.

The main thing you need to know is don't sell BTC ever (unless you want to speculate). Hang on to it for spending as a currency at much higher prices than it is today as it becomes 100 - 1000 times more adopted than it is now:

...

The technology adoption price curve applies to crypto-currency in general. Whether Bitcoin is the vehicle for crypto-currency in general remains to be determined, but most likely it is.

That there are weak hands which are illogically fearful of impractical regulation is just the way markets work. The shorts shake the trees (so the ripe fruit of weak hands can be harvested) as service to mother nature.

Edit: that is unless you think crypto-currency is fundamentally impossible to perfect, i.e. that the centralization problem plaguing Bitcoin is insurmountable (meaning impossible to mitigate). I don't believe so and I am down in deep on the technical issues.