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Why are people predicting the price going down? I predict it steadily growing
http://puu.sh/cipnn/5314307f71.png
If we ignore the crazy ups and downs caused by the speculators, Bitcoin grew about a 100% this year, it's not that crazy for such a new technology
I predict a minimum of 50% growth by the next year, with a maximum being unpredictable at this point
Black markets are thriving, bitcoin IS used for a real exchange and it cannot be easily replaced, whether some people like this or not. This is what really support the bitcoin economy right now and people failing to see that are missing some critical points, if not for black markets, we would have seen bitcoin prices falling to $50, 100$ but there is a large group of people that USE bitcoins in large amounts for real purchases.
I can't see people starting to use Bitcoins for everyday purchases any time soon unless we are hit by a disastrous economic downfall that threatens people savings (which is very possible in the future)
Recent stock prices fall and governments around the world lowering interest rates again.
Uncertainty in the Euro zone.
Just my thoughts
If we ignore the crazy ups and downs caused by the speculators, Bitcoin grew about a 100% this year, it's not that crazy for such a new technology
I predict a minimum of 50% growth by the next year, with a maximum being unpredictable at this point
Black markets are thriving, bitcoin IS used for a real exchange and it cannot be easily replaced, whether some people like this or not. This is what really support the bitcoin economy right now and people failing to see that are missing some critical points, if not for black markets, we would have seen bitcoin prices falling to $50, 100$ but there is a large group of people that USE bitcoins in large amounts for real purchases.
I can't see people starting to use Bitcoins for everyday purchases any time soon unless we are hit by a disastrous economic downfall that threatens people savings (which is very possible in the future)
Recent stock prices fall and governments around the world lowering interest rates again.
Uncertainty in the Euro zone.
Just my thoughts
I am paid by nobody, I have nothing to gain from this. I was a denial bulltard, but now I see the truth. I just want to spread it. I want idiot, greedy gambler's to burn their fingers and humble people to sell and find real jobs. That is why I'm warning people that there will be further fall (guaranteed), below $350. I have good connections, I know the market. Just want to save you money. After shorting on margin, before the bull sell, I made a tremendous profit and can live happily for the rest of my life.
cool story, do you have any evidence to support that? or keep fantasy for youself
Can anyone at this stage really predict what the price of bitcoin will be? How many different variables there are, probably thousands if not more... even a butterfly effect can cause a huge surge or a very sudden decline in price... mostly, it's people trying to predict what the hivemind will do and sell before the majority decides to do so or buy before the majority decides to do so.... so from this perspective, you are just trying to outsmart other bitcoin users and make money of them... so it's a bunch of people playing with their money and trying to outsmart each other... All this bitcoin speculation reminds me of a game in which you have to tap other person's hand before the other person does that
It was clear how unreliable bitcoin is due to the reliance on mt.gox, I hope "investors" who thought they will get rich quickly got burned
How many still waiting for 2015 or something like that, because bitcoins will be worth thousands of $? poor fools
bitcoin investors are nothing but gamblers
How many still waiting for 2015 or something like that, because bitcoins will be worth thousands of $? poor fools
bitcoin investors are nothing but gamblers
don't tell me to be patient, It has been 5 weeks since I am waiting for SEPA transfer that is supposed to take 1 working day to complete.
Mt.gox is garbage, only good to deposit money (and they do, it takes them 1 day to RECEIVE your SEPA transfer)
Mt.gox is garbage, only good to deposit money (and they do, it takes them 1 day to RECEIVE your SEPA transfer)
confirmed on 2013/04/13 still not processed
24 days passed (576 hours)
E.g. It would take about 13 days or 320 hours to walk from Warsaw Poland to Marlborough, UK according to google maps (without stopping of course)
I wonder if this will be processed in less than 640 hours or not, this is really sad, I wonder why are they offering this crippled service at all and why it's ok for them to receive the money but not to send it back
24 days passed (576 hours)
E.g. It would take about 13 days or 320 hours to walk from Warsaw Poland to Marlborough, UK according to google maps (without stopping of course)
I wonder if this will be processed in less than 640 hours or not, this is really sad, I wonder why are they offering this crippled service at all and why it's ok for them to receive the money but not to send it back
I have 4 withdraws 04/13 04/14 04/15 04/017 confirmed and still waiting
mt.gox recently replied to my tweet about this situation:
mt.gox recently replied to my tweet about this situation:
Quote
Hello,
Sorry for the delay.We continue to check the status and will notify you as soon as they are processed.We appreciate your patience.
May 01, 2013 11:48
Sorry for the delay.We continue to check the status and will notify you as soon as they are processed.We appreciate your patience.
May 01, 2013 11:48
can't wait to stop doing business with mt.gox, first transfer 13/04 still only confirmed and by the looks of it it is gonna be a while
anyone can comment about the withdrawal fees from japan bank to europe? I found no information about withdrawal fees at all
also how long it takes would be useful too...
someone recently stole 660 euros from my mt.gox account that I left in case I wanted to buy some bitcoins again,
After I noticed the transfer, I instantly contacted them about the unauthorised transfer (bitcoins), they replied 2 days later that they are sorry and can't do anything
I really hate mt.gox... even blockchain that offers a completely free service is capable of providing 2 auth with sms... also locking to one ip, etc.
they approve deposits to their shitty poland account within few days but it takes them weeks to process withdrawals back to the same account
anyone can comment about the withdrawal fees from japan bank to europe? I found no information about withdrawal fees at all
also how long it takes would be useful too...
someone recently stole 660 euros from my mt.gox account that I left in case I wanted to buy some bitcoins again,
After I noticed the transfer, I instantly contacted them about the unauthorised transfer (bitcoins), they replied 2 days later that they are sorry and can't do anything
I really hate mt.gox... even blockchain that offers a completely free service is capable of providing 2 auth with sms... also locking to one ip, etc.
they approve deposits to their shitty poland account within few days but it takes them weeks to process withdrawals back to the same account
Quote
No, it isn't. But your understanding that it doesn't work is correct.
Still, I'd like to know - rather than by negative example - in what arena do you see it as possible for every participant to win?
it will never be possible for everyone to win. What bitcoins could theoretically do is to take away banks power, so that 99% of people would not be losing against banks, freedom from bank control, but at the same time, banks have their purpose and they will always exist, this is what history tells us and to believe otherwise is to believe in some kind of utopia
bitcoins have their purpose - money laundering and privacy, faster transactions and low fees, freedom from government control (although government is supposed to work for people, so that's another issue)
not losing is not the same as winning
So since every coin I hold can be considered profit, by not cashing out I'm continuously making someone else lose, and will continue to do so until I do cash out? How can that be?
I'll tell you... the real losers are going to be those who stick with fiat until it is too late.
I'll tell you... the real losers are going to be those who stick with fiat until it is too late.
only if you are the exchanger or mining bitcoins your self.... if you are holding bitcoins their number is not increasing, if you have 100 bitcoins now, you will have 100 after 10 years, where will be your profit then? the only profit you can make is to take money away from other people at the right time...
Actually wait... isn't it demand that drives up price? The more people that want BTC the more scarce it becomes. The more scarce it becomes the more it is worth. No actual money is lost in this respect. Technically speaking everyone can win as long as the price keeps rising. People lose money by selling when the price goes lower than what they paid for.
and how is this better than a Ponzi scheme?
You are right, I'm agaisnt the markets, but it's like gambling, people keep playing games with a casino edge of more than 1%. So, fools deserve lose.
Just as a matter of curiosity, in what arena do you see it as possible for every participant to win?
Investing, not speculating. If everybody buy, and nobody sell, then we increase the value. Everybody wins, no sells, no market, no exchange, pure WIN/WIN for everybody.
Do you understand that it's impossible for everyone to win?
Just as a matter of curiosity, in what arena do you see it as possible for every participant to win?
Investing, not speculating. If everybody buy, and nobody sell, then we increase the value. Everybody wins, no sells, no market, no exchange, pure WIN/WIN for everybody.
that is the definition of Ponzi scheme
So since every coin I hold can be considered profit, by not cashing out I'm continuously making someone else lose, and will continue to do so until I do cash out? How can that be?
I'll tell you... the real losers are going to be those who stick with fiat until it is too late.
I'll tell you... the real losers are going to be those who stick with fiat until it is too late.
only if you are the exchanger or mining bitcoins your self.... if you are holding bitcoins their number is not increasing, if you have 100 bitcoins now, you will have 100 after 10 years, where will be your profit then? the only profit you can make is to take money away from other people at the right time...
but what is the whole point of this forum? Everyone who wants to speculate in bitcoins should see other speculators as enemies, your job is to be smarter than the rest... and now people are "collaborating" in this forum, when in fact they are competitors, the only function this forum serves is to spread wrong information so someone can profit
Do you understand that it's impossible for everyone to win?
Speculation of bitcoins is just a way for people to steal from each other... there will always be losers and winners, it is not much different from gambling
people put their money together and whoever exchanges his bitcoins at the right time will make a profit (and someone will have to take the equal loss)
whereas exchanges like mt.gox will continue to make profit either way
I know this is very basic but after reading this forum I am not sure if everyone understand this
so it's impossible for everyone to benefit, my guess is that numbers are close to 25-30% of people stealing from the rest (or making profit) similar to Forex
Speculation of bitcoins is just a way for people to steal from each other... there will always be losers and winners, it is not much different from gambling
people put their money together and whoever exchanges his bitcoins at the right time will make a profit (and someone will have to take the equal loss)
whereas exchanges like mt.gox will continue to make profit either way
I know this is very basic but after reading this forum I am not sure if everyone understand this
so it's impossible for everyone to benefit, my guess is that numbers are close to 25-30% of people stealing from the rest (or making profit) similar to Forex