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Re: ETH price soaring. Are you going to move some BTC into ETH?
I don't understand why so much money is flowing into Ethereum. Given that Ethereum is inflationary, and therefore has no fixed supply - it seems like a terrible long term investment. Can someone please explain why so much money is getting pumped into it right now?
I don't understand why so much money is flowing into Ethereum. Given that Ethereum is inflationary, and therefore has no fixed supply - it seems like a terrible long term investment. Can someone please explain why so much money is getting pumped into it right now?
I don't understand why so much money is flowing into Ethereum. Given that Ethereum is inflationary, and therefore has no fixed supply - it seems like a terrible long term investment. Can someone please explain why so much money is getting pumped into it right now?
Re: That is it. Bitcoin is totally unpredictable. This market is fake.
Your logic is flawed. No real markets are predictable.
If Bitcoin price was predictable, then I would believe that the market was fake. The very fact that it is not predictable means that it is working efficiently.
If lots of people wake up one day and decide to buy Bitcoin, then the price goes up. If more people want to sell, it goes down. It's as simple as that. You can't predict what the masses will do at any given point in time.
Show me any market - stocks, bonds, commodities, etc. - that is predictable. None of them are.
If Bitcoin price was predictable, then I would believe that the market was fake. The very fact that it is not predictable means that it is working efficiently.
If lots of people wake up one day and decide to buy Bitcoin, then the price goes up. If more people want to sell, it goes down. It's as simple as that. You can't predict what the masses will do at any given point in time.
Show me any market - stocks, bonds, commodities, etc. - that is predictable. None of them are.
Interesting rumor: the Chinese government has started to buy up Bitcoin as a hedge against global Bitcoin adoption.
Even if it is not true today, it is actually kind of believable as a possibility for the future. As Bitcoin continues to gain traction, there has to eventually be a tipping point at which the governments of the world will say "Oh shit! This is for real. We need to own some of this before it's too late!"
Source: https://www.reddit.com/r/Bitcoin/comments/3qmtbp/bitcoin_just_hit_2000_yuan/
[]johnnycoin 8 points 6 hours ago
"My very well connected friend from Shanghai says that there is a rumor in China that a few very very big chinese officials/businessmen/oligarchs are currently playing a very dangerous/fascinating game buying bitcoin. Speculation is that there is government influence in purchasing a majority of all bitcoins in the next five years to hedge against global Bitcoin adoption. Apparently, the government is behind some of the mining operations in China actually funding them and providing free power, and some Chinese officials think that it is smart to act now while the rest of the world is sleeping on this sea change in finance."
Even if it is not true today, it is actually kind of believable as a possibility for the future. As Bitcoin continues to gain traction, there has to eventually be a tipping point at which the governments of the world will say "Oh shit! This is for real. We need to own some of this before it's too late!"
Source: https://www.reddit.com/r/Bitcoin/comments/3qmtbp/bitcoin_just_hit_2000_yuan/
[]johnnycoin 8 points 6 hours ago
"My very well connected friend from Shanghai says that there is a rumor in China that a few very very big chinese officials/businessmen/oligarchs are currently playing a very dangerous/fascinating game buying bitcoin. Speculation is that there is government influence in purchasing a majority of all bitcoins in the next five years to hedge against global Bitcoin adoption. Apparently, the government is behind some of the mining operations in China actually funding them and providing free power, and some Chinese officials think that it is smart to act now while the rest of the world is sleeping on this sea change in finance."
I'm with you, Sector. Ignore these stupid trolls.
The two chart formations are uncannily similar. I think we are due for the next 10x run.
China, ECB, Gemini, Halving - so many good things happening at once.
The two chart formations are uncannily similar. I think we are due for the next 10x run.
China, ECB, Gemini, Halving - so many good things happening at once.
Something is definitely going on in China. FiatLeak.com is going crazy:
http://fiatleak.com
Watching it for all of 3 minutes, 77 bitcoins flowed into the US, while 780 bitcoins flowed into China! And, it's the middle of the night there.
I wonder what is going on. Certainly hope this is the start of the next bubble : )
http://fiatleak.com
Watching it for all of 3 minutes, 77 bitcoins flowed into the US, while 780 bitcoins flowed into China! And, it's the middle of the night there.
I wonder what is going on. Certainly hope this is the start of the next bubble : )
Now is an excellent time to buy. You won't be able to time the sudden recovery upwards.
Just as the price crashed due to cascading margin calls (people borrowed too much to buy bitcoin, and the bank forced them to liquidate their positions), there are now a ton of short positions that the traders will be forced to cover on the upswing - which will cause the price to rocket upwards suddenly.
Just as the price crashed due to cascading margin calls (people borrowed too much to buy bitcoin, and the bank forced them to liquidate their positions), there are now a ton of short positions that the traders will be forced to cover on the upswing - which will cause the price to rocket upwards suddenly.
Why isn't everyone talking about China's currency devaluation?!!
This is exactly what we have all been waiting for! When fiat currency goes to sh*t, Bitcoin will go to the moon.
After China devalued it's currency twice in two days, I would have expected both more discussion in the forums, and also a huge move in the price of Bitcoin. Why not?!
China's move to devalue it's currency by 3.6% is not the last event. China will go further, and also other countries will have to respond with similar action to remain competitive in the world economy. A so called "currency war." This is very likely to be the beginning of worldwide inflation - AKA the demise of fiat. This is going to be A HUGE DEAL for Bitcoin. I really don't understand why the markets have not already responded.
After China devalued it's currency twice in two days, I would have expected both more discussion in the forums, and also a huge move in the price of Bitcoin. Why not?!
China's move to devalue it's currency by 3.6% is not the last event. China will go further, and also other countries will have to respond with similar action to remain competitive in the world economy. A so called "currency war." This is very likely to be the beginning of worldwide inflation - AKA the demise of fiat. This is going to be A HUGE DEAL for Bitcoin. I really don't understand why the markets have not already responded.
Why isn't everyone talking about China's currency devaluation?!
This is exactly what we have all been waiting for! When fiat currency goes to sh*t, Bitcoin will go to the moon.
After China devalued it's currency twice in two days, I would have expected both more discussion in the forums, and also a huge move in the price of Bitcoin. Why not?!
China's move to devalue it's currency by 3.6% is not the last event. China will go further, and also other countries will have to respond with similar action to remain competitive in the world economy. This is very likely to be the beginning of worldwide inflation - AKA the demise of fiat. This is going to be A HUGE DEAL for Bitcoin. I really don't understand why the markets have not already responded.
After China devalued it's currency twice in two days, I would have expected both more discussion in the forums, and also a huge move in the price of Bitcoin. Why not?!
China's move to devalue it's currency by 3.6% is not the last event. China will go further, and also other countries will have to respond with similar action to remain competitive in the world economy. This is very likely to be the beginning of worldwide inflation - AKA the demise of fiat. This is going to be A HUGE DEAL for Bitcoin. I really don't understand why the markets have not already responded.
It is so perplexing to me that people keep saying "we don't see Bitcoin's killer app yet." This is such a ridiculous statement.
Bitcoin's first killer app is money.
How many new ideas go from a market cap of zero to $4 B in 6 years?!?! Answer: extremely few. If Bitcoin were a startup itself, it would already be well beyond "Unicorn" status.
Of course, the additional applications of Bitcoin and the Blockchain are endless, but it's first killer app is clearly already here, and 4,000,000,000 cash US dollars agree with that.
Bitcoin's first killer app is money.
How many new ideas go from a market cap of zero to $4 B in 6 years?!?! Answer: extremely few. If Bitcoin were a startup itself, it would already be well beyond "Unicorn" status.
Of course, the additional applications of Bitcoin and the Blockchain are endless, but it's first killer app is clearly already here, and 4,000,000,000 cash US dollars agree with that.
Re: How much BTC is enough? Do I have enought to be a millionaire soon?
WTF - they claim a $1 B market cap in this article?!
http://cointelegraph.com/news/113467/90-of-all-the-cryptocurrencies-today-should-cease-to-exist-within-the-next-24-months
Complete BS.
http://cointelegraph.com/news/113467/90-of-all-the-cryptocurrencies-today-should-cease-to-exist-within-the-next-24-months
Complete BS.
Yes, Greece is certainly a big deal for Bitcoin. But it seems like the bigger "current event" is the collapse of China's stock market. 30% decline in just the last month, erasing $2 Trillion of value.
China had a huge influence on Bitcoin before. Isn't it possible that the Chinese are flocking to Bitcoin now, as a safe haven amidst their economic collapse?
China had a huge influence on Bitcoin before. Isn't it possible that the Chinese are flocking to Bitcoin now, as a safe haven amidst their economic collapse?