Quote from: Edward50 on December 26, 2013, 09:06:17 AM

Just wanted to say, I still think bitcoins can hit $1000. I am not trying to say it can't go up higher.

My point in saying is that the whole price is a house of cards. The only reason it can sustain these price levels and move higher is because so many bitcoin hodlers do not sell, they do not need to. However, if anything happened which caused just a small increase in bitcoin hodlers cashing out the whole thing would come collapsing down.

I already have stated that the reason why the price would go higher is simply that bitcoin hodlers are not selling just hodling for a higher price. I never said that bitcoin was a good investment, it is a highly risky one and the potential returns you would get are not worth the risk of paying $700 for a bitcoin. Actually, you would have to be a insanely stupid investor to buy bitcoins to speculate with at the ridiculously price level it is at now.

The price level it is priced in now was based largely on huge growth in china that is not turning out very good.

I do not buy bitcoins to speculate with them, I buy them only to quickly buy other investments with the bitcoins. However, these investments are somewhat tied to the bitcoin price. This is only why I hope that the price at least hodls or stabilizes as if that happened I would do very well. I have done well with my non-bitcoin investments even with the price drops that bitcoin has had. This is only because I choose the proper investments.

Thanks guys for not trying to refute my point or support it. Instead you try and attack my reputation. You are obviously bitcoin hodlers who know that your betting on a house of cards and the last thing you want is it to collapse.

However, I think there are many other who will see my point and understand that what I write makes lots of sense and I wait for someone to counter what I wrote here.

If you invest what you're willing to lose there shouldn't be a problem. I think the chances of 10,000 are better than 0. But honestly who cares about either of our opinions?

Time will tell, and many will most likely regret not buying. More and more people are getting interested in bitcoin, simply due to its superiority to other currencies. Just because it isn't as widely accepted/used doesn't mean it isn't a superior form of transacting. Fiat has been used by many generations before us so we are naturally accustomed to it. Bitcoin is still new and very bizarre to people when they're first introduced. These things take time, crypto is the future, that really isn't a question. The question is which one it will be and when. You should just be happy with however many coins you have and be grateful to be witnessing this. I'm certain looking back will be very interesting however this plays out.

People hodling bitcoins is good, when all the current hodlers decide it's time to "cash out" someone else will buy those coins and become a new hodler. What's wrong with saving bitcoin? Many people believe it will be successful in the future for one reason or another.