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Crypto Crypto on the wall, how far will you take this fall?
Litecoin… Almost… Breaking-out… and a Crypto Analysis — 7/4/17
Bitcoin ETF: Would an approval be healthy for the market?
https://medium.com/@bitcoinoptimist/bitcoin-etf-would-an-approval-be-healthy-for-the-market-34edf44ada0#.ov03z1nb8
Bitcoin has diverged away from the norm, and broken from its trend. Since the end of 2015, the slow-and-steady rise has been the name of Bitcoins game. As demonstrated by the recent price volatility, the rules of the game have since been changed. If they hadnt, we would likely see Bitcoin hovering in the $1,000-ish price range and we would not have witnessed it hitting $1,275.
However, it is pretty easy to see why the price has been rising. Traders are speculating on the ETF approval, and other traders are speculating on the speculators speculation. This ultimately causes an elevated level of buying over selling, and this resulted in a deviation from the norm.
With that said, we could easily go back to the norm. If the SEC rules against the Bitcoin ETFs, the price will correct (and likely over-correct) and then once it finds a bottom, it will likely continue the predictable, slow-and-steady upwards ascent. Itll go back to playing the game it knows.
On the opposite end of the spectrum, if the SEC approves the ETFs, the current volatility will continue to exist and we will likely see this exuberance drive Bitcoins price upwards into a parabola. Parabola meaning exponential.
An exponential rise might sound like a leap at first thought, but if you analyze other exponential charts, compare it with Bitcoin, and realize that exponential is in Bitcoins nature, it really is not as much of a leap as you might think. This is the internet of money after all.
Now this begs the question, Is it healthy for Bitcoin to rise in an exponential fashion? The answer to that question depends on the perspective you choose to take. If you have a short-term perspective and find boom-to-bust-to-recovery cycles bad for the market, maybe its not so desirable. If you have a long-term perspective where the goal is to increase Bitcoin adoption and awareness, the ETFs and a potential exponential price rise would be an absolute blessing (assuming they are configured and secured properly).
An extremely quick and large price rise would bring Bitcoin into the financial worlds spotlight. You would hear about it on financial news programs, and read about it in financial news publications. The news would spread over the internet like wildfire. Worldwide interest would be piqued, and the gap between the tech-based world and the world of finance would be filled. The financial industry would finally have access to the easily-passable bridge that has prevented them from investing in Bitcoin thus far.
Prior to an ETF, Bitcoin has flown underneath the financial worlds radar. As an investment, it hasnt been taken seriously. Its perceived as a crazy experiment suitable only for drug-users and money-launderers. It is not considered a reliable store-of-value. The launching of an ETF coinciding with a significant price rise would put that thought to rest. With easy, non-technical investment access, it could no longer be considered a currency only for criminals. It would be legitimized as an investment for the everyday person; and the psychology of it being a store-of-value would change. When the price is under $1,000, nobody really took notice. After $1,000, people started to take notice. If and when it hits $2,000+, people will really start to take notice. And the higher it goes, the more people will equate it as a store-of-value. Theyll equate it with a digital gold, and theyll want to own some themselves.
As more fuel is added and the fire continues to rage, additional users and investors will be drawn into the Bitcoin ecosphere. The hype will feed upon itself, and from the Bitcoin adoption and awareness perspective, this will be a great thing. Not only will it be great, it will also be a necessity: A necessity for mainstream Bitcoin adoption and usage throughout the world. Before Bitcoin can go mainstream, it must first be desired as a form of money. People must want it. For people to want it, it must demonstrate that it is valuable. For it to be psychologically valuable, the price needs to be high. Once the price is perceived as high, it will be thought of as valuable; and then, everyday people will want it.
After Bitcoin is desired and in the hands and minds of many, the odds of mainstream success will be overwhelmingly in its favor. When it becomes inarguable that Bitcoin is valuable as money, this door to mainstream success will be opened. It probably wont happen overnight, but with this prerequisite met, the Bitcoin network would be ripe for widespread adoption and could eventually realize its potential in revolutionizing the financial industry and becoming the backbone for everyday commerce.
So, from a long-term, increasing Bitcoin awareness and adoption perspective, an exponential price rise would be welcomed. The only way it wouldnt be is if the Bitcoin network could no longer function because of it. Luckily for the world, Bitcoin doesnt give a damn if the price is $.10 or $10,000. The code will still work, and the miners will still mine. And besides, it is almost inevitable that Bitcoin will rise on an exponential scale at some point. It has a relatively small market value, its global, and its on the scale of the internet. It has ample room for growth, and if we learned anything from the internet, growth does not come linearly it comes exponentially. Why wouldnt Bitcoin do the same? Therefore, the question is whether that type of rise will come sooner rather than later but we should find that out soon enough.
https://twitter.com/BitcoinOptimist
Bitcoin has diverged away from the norm, and broken from its trend. Since the end of 2015, the slow-and-steady rise has been the name of Bitcoins game. As demonstrated by the recent price volatility, the rules of the game have since been changed. If they hadnt, we would likely see Bitcoin hovering in the $1,000-ish price range and we would not have witnessed it hitting $1,275.
However, it is pretty easy to see why the price has been rising. Traders are speculating on the ETF approval, and other traders are speculating on the speculators speculation. This ultimately causes an elevated level of buying over selling, and this resulted in a deviation from the norm.
With that said, we could easily go back to the norm. If the SEC rules against the Bitcoin ETFs, the price will correct (and likely over-correct) and then once it finds a bottom, it will likely continue the predictable, slow-and-steady upwards ascent. Itll go back to playing the game it knows.
On the opposite end of the spectrum, if the SEC approves the ETFs, the current volatility will continue to exist and we will likely see this exuberance drive Bitcoins price upwards into a parabola. Parabola meaning exponential.
An exponential rise might sound like a leap at first thought, but if you analyze other exponential charts, compare it with Bitcoin, and realize that exponential is in Bitcoins nature, it really is not as much of a leap as you might think. This is the internet of money after all.
Now this begs the question, Is it healthy for Bitcoin to rise in an exponential fashion? The answer to that question depends on the perspective you choose to take. If you have a short-term perspective and find boom-to-bust-to-recovery cycles bad for the market, maybe its not so desirable. If you have a long-term perspective where the goal is to increase Bitcoin adoption and awareness, the ETFs and a potential exponential price rise would be an absolute blessing (assuming they are configured and secured properly).
An extremely quick and large price rise would bring Bitcoin into the financial worlds spotlight. You would hear about it on financial news programs, and read about it in financial news publications. The news would spread over the internet like wildfire. Worldwide interest would be piqued, and the gap between the tech-based world and the world of finance would be filled. The financial industry would finally have access to the easily-passable bridge that has prevented them from investing in Bitcoin thus far.
Prior to an ETF, Bitcoin has flown underneath the financial worlds radar. As an investment, it hasnt been taken seriously. Its perceived as a crazy experiment suitable only for drug-users and money-launderers. It is not considered a reliable store-of-value. The launching of an ETF coinciding with a significant price rise would put that thought to rest. With easy, non-technical investment access, it could no longer be considered a currency only for criminals. It would be legitimized as an investment for the everyday person; and the psychology of it being a store-of-value would change. When the price is under $1,000, nobody really took notice. After $1,000, people started to take notice. If and when it hits $2,000+, people will really start to take notice. And the higher it goes, the more people will equate it as a store-of-value. Theyll equate it with a digital gold, and theyll want to own some themselves.
As more fuel is added and the fire continues to rage, additional users and investors will be drawn into the Bitcoin ecosphere. The hype will feed upon itself, and from the Bitcoin adoption and awareness perspective, this will be a great thing. Not only will it be great, it will also be a necessity: A necessity for mainstream Bitcoin adoption and usage throughout the world. Before Bitcoin can go mainstream, it must first be desired as a form of money. People must want it. For people to want it, it must demonstrate that it is valuable. For it to be psychologically valuable, the price needs to be high. Once the price is perceived as high, it will be thought of as valuable; and then, everyday people will want it.
After Bitcoin is desired and in the hands and minds of many, the odds of mainstream success will be overwhelmingly in its favor. When it becomes inarguable that Bitcoin is valuable as money, this door to mainstream success will be opened. It probably wont happen overnight, but with this prerequisite met, the Bitcoin network would be ripe for widespread adoption and could eventually realize its potential in revolutionizing the financial industry and becoming the backbone for everyday commerce.
So, from a long-term, increasing Bitcoin awareness and adoption perspective, an exponential price rise would be welcomed. The only way it wouldnt be is if the Bitcoin network could no longer function because of it. Luckily for the world, Bitcoin doesnt give a damn if the price is $.10 or $10,000. The code will still work, and the miners will still mine. And besides, it is almost inevitable that Bitcoin will rise on an exponential scale at some point. It has a relatively small market value, its global, and its on the scale of the internet. It has ample room for growth, and if we learned anything from the internet, growth does not come linearly it comes exponentially. Why wouldnt Bitcoin do the same? Therefore, the question is whether that type of rise will come sooner rather than later but we should find that out soon enough.
https://twitter.com/BitcoinOptimist
Re: "With Bitcoin/Crypto, what are you most optimistic about?"
Bitcoin will level the playing field by allowing the masses of previously unbanked to become their own bank. It will allow previously isolated individuals the opportunity to participate in a wider range and field of business, consumerism, entrepreneurship and commerce which will lead to new, yet undiscovered innovations and technologies beneficial to mankind. All this in the face of continued efforts of governments and central banks to control and manipulate the world's money supply in order to benefit themselves in terms of riches, power and control, all at the expense of the masses.
Thanks Junko - https://twitter.com/BitcoinOptimist/status/838965786387628034/photo/1
Re: "With Bitcoin/Crypto, what are you most optimistic about?"
Wow you guys, I did not expect so many great answers. I'll be sure to include many of them in my next writing, and when I publish a book at the end of the year, I'll add them in there too. I hope they keep on coming. They've been great. Thank you.
"With Bitcoin/Crypto, what are you most optimistic about?"
"With Bitcoin/Crypto, what are you most optimistic about?"
Looking for 1 paragraph responses to include in Bitcoin Optimist writings. After the end of the year, the writings will be compiled, and a section dedicated to individual's answers of this question will be included.
Please share yours if you are interested.
Here's mine:
"Bitcoin could eventually become the best and FAIREST form of money to ever exist in this world. Going further, because it will retain value due to its scarcity, and because it is free for all to use, it has the potential to keep government and central bank financial shenanigans in check for those that need this protection most. Bitcoin could truly be money-of-the-people."
Looking for 1 paragraph responses to include in Bitcoin Optimist writings. After the end of the year, the writings will be compiled, and a section dedicated to individual's answers of this question will be included.
Please share yours if you are interested.
Here's mine:
"Bitcoin could eventually become the best and FAIREST form of money to ever exist in this world. Going further, because it will retain value due to its scarcity, and because it is free for all to use, it has the potential to keep government and central bank financial shenanigans in check for those that need this protection most. Bitcoin could truly be money-of-the-people."
Re: Bitcoin Optimist: January 2017, Recap — “With Clarity, Comes Stability”
Bitcoin Optimist Price Forecast as of 2/26/2017: https://medium.com/@bitcoinoptimist/bitcoin-optimist-2-26-2017-btc-price-forecast-6b3cb151573e#.bdn4thz0m
Re: Bitcoin Optimist: January 2017, Recap — “With Clarity, Comes Stability”
Bitcoin Optimist 'Daily Observations' for the week of February 19th, 2017 - February 25th, 2017
https://i.redd.it/0z24amsz7fiy.png
https://i.redd.it/0z24amsz7fiy.png
Re: Bitcoin Optimist: January 2017, Recap — “With Clarity, Comes Stability”
I think ! In this Optimist experience watching the market - especially the crypto market - a certain future events will cause a rally before the actual event, due to speculation that the asset will increase in value from the news, it's also done in other web
Bingo. However, the ETF could be a little different. It's obviously going to get hyped up prior to the event, but because a new class of investors will be able to enter the ring, it should continue to rise afterwards... and then... parabola.
Re: Bitcoin Optimist: January 2017, Recap — “With Clarity, Comes Stability”
Bitcoin Optimist 'Daily Observations' for the week of February 12th, 2017 - February 18th, 2017.
https://pbs.twimg.com/media/C5I9kICUcAAYkpU.jpg:large
Full Recap from January 1st, 2017 found here: https://docs.google.com/spreadsheets/d/1Wz4A_G_Iz0ncFUfNMtxnInjjHMpiLwhlfaPgDMtULFA/edit?usp=sharing
https://pbs.twimg.com/media/C5I9kICUcAAYkpU.jpg:large
Full Recap from January 1st, 2017 found here: https://docs.google.com/spreadsheets/d/1Wz4A_G_Iz0ncFUfNMtxnInjjHMpiLwhlfaPgDMtULFA/edit?usp=sharing
Re: Bitcoin Optimist: January 2017, Recap — “With Clarity, Comes Stability”
Very interesting and comprehensive article. Please continue writing these recaps for us, even if you are not being paid for it.
As you said as some point you could grab them and create bitcoin yearbook, that would be cool if I think about it now.
BTW what is your stance on Japanese BitLicense? Will it negatively impact the market?
As you said as some point you could grab them and create bitcoin yearbook, that would be cool if I think about it now.
BTW what is your stance on Japanese BitLicense? Will it negatively impact the market?
More than happy to! It's going to be my project for this year.
And to answer your question: That news actually slipped by me so I did some reading for the specifics. I'm going to cover my thoughts about it, and regulation in general, in February's writing. You'll just have to find out then
Re: Bitcoin Optimist: January 2017, Recap — “With Clarity, Comes Stability”
We need sites like this, because we have enough sites spreading negative fud all over the place. I like the idea, but I would like to see biased opinions on different matters regarding Bitcoin. Do not change the content to be overly optimistic, because people will see through that and call out the BS from the truth.
I like to read articles with positive opinions, but it should be realistic and fact driven. < If Roger Vicking says the price of Bitcoin will go to $20 000 per bitcoin, then I want a realistic explanation for that. > No thumb sucking!
I like to read articles with positive opinions, but it should be realistic and fact driven. < If Roger Vicking says the price of Bitcoin will go to $20 000 per bitcoin, then I want a realistic explanation for that. > No thumb sucking!
I won't be making price predictions like that. You should read what I've written. I may be biased, but I don't think I am overly optimistic; I believe I present a realistic optimism.
I appreciate the critique.
Re: Bitcoin Optimist: January 2017, Recap — “With Clarity, Comes Stability”
Each week, I'll gather the highlights + price action from the week before, and post a recap on Sunday or Monday. Let me know if you have any suggestions.
https://twitter.com/BitcoinOptimist/status/831010414834176002
https://twitter.com/BitcoinOptimist/status/831010414834176002
Re: Bitcoin Optimist: January 2017, Recap — “With Clarity, Comes Stability”
Thank you for the encouraging replies, I actually didn't expect that. I'll address each.
HabBear
Appreciate that!
Xester
I think you just may be more optimistic than me! I highly doubt that I'll have that much of an effect, but it would be pretty sweet if I did!
megynacuna
Bitcoin is my passion and writing is my hobby. I'm doing this because I love it. It's a hell of a lot of work and nobody is paying me to do it. But, I do intend on publishing a book at some point. That won't come for a while, however.
davis196:
I feel like I'm a realist as well as an optimist, and I was (unfortunately) an optimist when the price went from $1k to $200. Bitcoin's potential never escaped me. Thanks for the good luck, good sir.
Kemarit:
I'll definitely mention the Philippines post and touch base on regulation in next month's edition; and the most recent Chinese drop was mentioned at the end of the article - but will be covered as well in the next. I keep a list of each noteworthy news item using a GoogleDoc. The Philippines regulation can be found on 2/7/17's line: https://docs.google.com/spreadsheets/d/1Wz4A_G_Iz0ncFUfNMtxnInjjHMpiLwhlfaPgDMtULFA/edit#gid=0
How about adding a review trading bot on your website? - I don't know enough about coding to build my own website yet, much less that
Although, I did buy the bitcoinoptimist.com domain and will likely put together a WordPress website as that's what I know how to do. At some point, if I have help, maybe I can really doll it up and add some cool features. But right now, that's out of the realm of possibility.
a review of HYIP which is scam or not? No? too much to ask? Grin - Too much to ask
HabBear
Appreciate that!
Xester
I think you just may be more optimistic than me! I highly doubt that I'll have that much of an effect, but it would be pretty sweet if I did!
megynacuna
Bitcoin is my passion and writing is my hobby. I'm doing this because I love it. It's a hell of a lot of work and nobody is paying me to do it. But, I do intend on publishing a book at some point. That won't come for a while, however.
davis196:
I feel like I'm a realist as well as an optimist, and I was (unfortunately) an optimist when the price went from $1k to $200. Bitcoin's potential never escaped me. Thanks for the good luck, good sir.
Kemarit:
I'll definitely mention the Philippines post and touch base on regulation in next month's edition; and the most recent Chinese drop was mentioned at the end of the article - but will be covered as well in the next. I keep a list of each noteworthy news item using a GoogleDoc. The Philippines regulation can be found on 2/7/17's line: https://docs.google.com/spreadsheets/d/1Wz4A_G_Iz0ncFUfNMtxnInjjHMpiLwhlfaPgDMtULFA/edit#gid=0
How about adding a review trading bot on your website? - I don't know enough about coding to build my own website yet, much less that
Although, I did buy the bitcoinoptimist.com domain and will likely put together a WordPress website as that's what I know how to do. At some point, if I have help, maybe I can really doll it up and add some cool features. But right now, that's out of the realm of possibility.a review of HYIP which is scam or not? No? too much to ask? Grin - Too much to ask