Post
Topic
Board Speculation
Re: For Those Wondering Why The Current Rally
by
sunnankar
on 03/04/2013, 07:26:23 UTC
The wealth transfer from holders of other stuff to holders of bitcoins is accelerating.

Figured I would let people know that the next 2-3 months are going to be extremely exciting with the bitcoin price. You may be tempted to sell but that may not be a very good idea and you will likely be regretting that decision six months from today. There is going to be a ton of funds flowing into Bitcoin.

Currently, there are a bunch of Silicon Valley VCs and Wall Streeters, at least 5-6 I am personally aware of, who are fighting over each other to establish multi-million dollar positions. But that amount of capital is going to look tiny compared to what is scheduled in about 2-3 months. The Bitcoin market, at current prices, is simply far far too small for these amounts of fund flows and why they are melting up the price by buying anything that appears for sale.

I really hope the Bitcoin community gets to benefit from this massive upcoming wealth transfer. To do so merely (1) hold onto your bitcoins, (2) restrict supply as much as you can (this is very important) and (3) make any of these newcomers pay dearly for whatever trickle of bitcoins you do choose to sell or spend.

So, who wants to be like the Litecoin trader with seller's remorse? One guy wrote a sad tale about how in January he bought 80,000 litecoins at $0.068 and sold them at $0.20. Litecoins are selling for about $5 today. So he took a 194% return, or $10,560, but missed out on a 7,250% return, or $394,560. and is feeling seller's remorse.