Bitcoins - about to hit $5,000 per coin today!

[ratherbebig]

"A week ago Bitcoin broke through $10,000 and the people looking to cash in some of their growth took money out.

The price fell for a bit as a result, then surged on again to last night's record $18,000 - when people started taking money out again and dropped the price to $15,500.

The bad news is that this collapse might be something else entirely."

[TheShape.]

Did Goodrum ever keep his?

[gib]

Did Goodrum ever keep his?

He was ahead of his time. I think he sold a while back, but at the same time he has remained a strong advocate for the future of Bitcoin. Had he held when he was buying back in the day, he would probably be mega $$$, but no point crying over spilled milk - one can only look forwards, trying to learn lessons from the past.

[robcguns]

"A week ago Bitcoin broke through $10,000 and the people looking to cash in some of their growth took money out.

The price fell for a bit as a result, then surged on again to last night's record $18,000 - when people started taking money out again and dropped the price to $15,500.

The bad news is that this collapse might be something else entirely."

Such as?

[ratherbebig]

The stages of a bubble

Stealth Phase: A period of quiet, slow rises - after the invention, but before wider awareness. It ends as the price starts to take off

Awareness phase: More people get involved - often from banks and investment companies - as they see the potential and the price rises faster. At the end of this phase there's a sell off, that catches out pessimists. The price soon recovers

Mania phase: This is the point the media get involved and the public start buying it up. Enthusiasm for the product is followed by greed, which is followed by delusion and culminates in the proud proclamation of a "new model" that allegedly explains the growth

Blow off phase: The price drops. Not a lot, but a bit. Then recovers - although not to its previous level. The true believers say it's nothing to worry about and buy more after the drop. Then prices drop again and reality sets in. People get scared and start selling, then desperate, then they just give up as the price ends up back where it was in the "stealth" phase and fortunes are lost.

Eventually there's a recovery to around the level seen in the "awareness" phase followed by normal growth - because most of the time at the start of every bubble is a good idea

Based on Dr Jean-Paul Rodrigue of Hofstra University's anatomy of a bubble chart

And Bitcoin?

"The madness of crowds is well documented, but it is quite something to behold in the flesh,” said Neil Wilson, ETX Capital's senior market analyst.

"So far it's following the playbook for a speculative bubble to the letter.... The big question is whether we have reached the euphoric stage or are still in the boom phase."

[Mayday]

The movements in bitcoin:

At the start of the year the market cap is $15.5B / End of June the market cap is $41B / End of October $95B / Right now it's $279B.

The recent run took 260B resources which is easy to get. Experts claim it's a gold competitor and if it gets 10% share then it'll hit $3T. So to get another 10x return will take $2.7T......

The is background why banks hate BTC.

A key indicator is the JPM CEO comments. Then look at their actions.

JPM is actually under threat from BTC because it competes with Gold and JPM runs the Comex. The CEO slams cryptos and says they are BS and any of his employees that trades them will be fired.....

Behind the scenes JPM form an ethereum alliance across international banks (i am talking the major banks here, not small fries). An ethereum based payment exchange platform is being created between these banks to allow fast global transfers between them. Ergo, ethereum will become money bewteen banks...... JPM won't care about Gold because they will be in bed with Eth and make zillions.

BTC - 16,600
Eth - 530

Eth market cap right now is 44B. It can easily get to 4.4T and higher when banks have their platforms up and running. So it's plausible to go 100x in a fairly short period (could be 5yrs).


FWIW i have contacts who run projects in some of the major banks. They are talking projects using ethereum so it all sounds legit.

[Griffith]

The movements in bitcoin:

At the start of the year the market cap is $15.5B / End of June the market cap is $41B / End of October $95B / Right now it's $279B.

The recent run took 260B resources which is easy to get. Experts claim it's a gold competitor and if it gets 10% share then it'll hit $3T. So to get another 10x return will take $2.7T......

The is background why banks hate BTC.

A key indicator is the JPM CEO comments. Then look at their actions.

JPM is actually under threat from BTC because it competes with Gold and JPM runs the Comex. The CEO slams cryptos and says they are BS and any of his employees that trades them will be fired.....

Behind the scenes JPM form an ethereum alliance across international banks (i am talking the major banks here, not small fries). An ethereum based payment exchange platform is being created between these banks to allow fast global transfers between them. Ergo, ethereum will become money bewteen banks...... JPM won't care about Gold because they will be in bed with Eth and make zillions.

BTC - 16,600
Eth - 530

Eth market cap right now is 44B. It can easily get to 4.4T and higher when banks have their platforms up and running. So it's plausible to go 100x in a fairly short period (could be 5yrs).


FWIW i have contacts who run projects in some of the major banks. They are talking projects using ethereum so it all sounds legit.

At the moment I have more interest in Ethereum.

[gib]

At the moment I have more interest in Ethereum.

One thought - what should be most relevant, is not what you have more interest in, but rather what others (who are likely to invest) are likely to have most interest in. Because this is where the money will go, and where money goes there are profits to be made. And if you think that part through, then for a range of reasons you have to conclude its BTC.

ETH (and others) have some pretty cool features and uses and technologies, but from an investor's perspective, we have to separate our interest in a new technology with the reality of making money.

Having said that, I do hold a tiny bit of ETH and I think it may well do well over the next few years.

[QuietYou]

One thought - what should be most relevant, is not what you have more interest in, but rather what others (who are likely to invest) are likely to have most interest in. Because this is where the money will go, and where money goes there are profits to be made. And if you think that part through, then for a range of reasons you have to conclude its BTC.

ETH (and others) have some pretty cool features and uses and technologies, but from an investor's perspective, we have to separate our interest in a new technology with the reality of making money.

Having said that, I do hold a tiny bit of ETH and I think it may well do well over the next few years.

What do u think about ripple? It's like 25 cents right now

[gib]

What do u think about ripple? It's like 25 cents right now

I think for most of the top alts, ripple, iota, litecoin, BTC cash, neo etc, that there is probably no harm in holding each of those that comes in the "top 10" of size.

I think the price is largely irrelevant, again for reasons explained earlier, that for most crypto currencies, they are impossible to value. A price of "25 cents" could be made $2500 if 1/1000th of the number of coins exited. Similarly the price could be "12 cents" if double the number of coins were issued. Bitcoins, if you look at them in terms of a Santoshi (eg 0.00000001 of a coin) are extremely cheap.

So overall, I would say don't be confused and distracted by what appears to be a "cheap price".

Do I think ripple will go up? Yes, I think a rising tide will float all ships (however that phrase goes) so yes ripple should do fine, but overall I would be largely weighted into BTC (even though it may seem "expensive").

[QuietYou]

I think for most of the top alts, ripple, iota, litecoin, BTC cash, neo etc, that there is probably no harm in holding each of those that comes in the "top 10" of size.

I think the price is largely irrelevant, again for reasons explained earlier, that for most crypto currencies, they are impossible to value. A price of "25 cents" could be made $2500 if 1/1000th of the number of coins exited. Similarly the price could be "12 cents" if double the number of coins were issued. Bitcoins, if you look at them in terms of a Santoshi (eg 0.00000001 of a coin) are extremely cheap.

So overall, I would say don't be confused and distracted by what appears to be a "cheap price".

Do I think ripple will go up? Yes, I think a rising tide will float all ships (however that phrase goes) so yes ripple should do fine, but overall I would be largely weighted into BTC (even though it may seem "expensive").

Do you use practicality in the crypto currency as a focal point when choosing what to invest in? Or is it completely irrelevant..And you only go for trends and who is partnering, who's backing them etc?

So essentially, IOTA and Ripple will inevitably make more money, even if it's not as much a BTC, so your cash out solely depends on how much money you're able to put in? With markets rising etc, there is really no big risk essentially?

[gib]

Do you use practicality in the crypto currency as a focal point when choosing what to invest in? Or is it completely irrelevant..And you only go for trends and who is partnering, who's backing them etc?

So essentially, IOTA and Ripple will inevitably make more money, even if it's not as much a BTC, so your cash out solely depends on how much money you're able to put in? With markets rising etc, there is really no big risk essentially?

I look much more at the overall ecosystem being developed including who is backing and partnering. And I’ve come to the conclusion that overall, for bitcoin, many more funds will flow in.

I’m not so sure that the smaller alts will outperform BTC. It’s possible they will but I see similarities with people who buy penny stocks on the belief that they are much more likely to double than a blue chip. It sounds appealing (and sometimes comes true) but if only it was that easy ...

Again, I’m rather conservative. My rule #1 is “don’t lose money”. So for me it’s the blue chip of crypto that I’m betting on. Again not to say that others might not rise a lot - just not for me. But good luck to anyone who gives it a shot!

[el numero uno]

The stages of a bubble

Stealth Phase: A period of quiet, slow rises - after the invention, but before wider awareness. It ends as the price starts to take off

Awareness phase: More people get involved - often from banks and investment companies - as they see the potential and the price rises faster. At the end of this phase there's a sell off, that catches out pessimists. The price soon recovers

Mania phase: This is the point the media get involved and the public start buying it up. Enthusiasm for the product is followed by greed, which is followed by delusion and culminates in the proud proclamation of a "new model" that allegedly explains the growth

Blow off phase: The price drops. Not a lot, but a bit. Then recovers - although not to its previous level. The true believers say it's nothing to worry about and buy more after the drop. Then prices drop again and reality sets in. People get scared and start selling, then desperate, then they just give up as the price ends up back where it was in the "stealth" phase and fortunes are lost.

Eventually there's a recovery to around the level seen in the "awareness" phase followed by normal growth - because most of the time at the start of every bubble is a good idea

Based on Dr Jean-Paul Rodrigue of Hofstra University's anatomy of a bubble chart

And Bitcoin?

"The madness of crowds is well documented, but it is quite something to behold in the flesh,” said Neil Wilson, ETX Capital's senior market analyst.

"So far it's following the playbook for a speculative bubble to the letter.... The big question is whether we have reached the euphoric stage or are still in the boom phase."

The delusion in this thread fits perfectly into the mania phase.

[Mayday]

I think the banks will be using private ethereum blockchains, like a fork of ethereum that only banks have access to. So it might not effect the public ethereum network.

private network setup as its for bank to bank transfers.

if there is trillions to be made they will make it open to the public at some point.

and that is the bet i am making right now that in the coming years it will merge with the public ethereum network.

it will be just like the USD but digital. everybody trades usd around the world because its fucking easy. Shortly they will trade ethereum so imagine how much demand there will be for eth 'if' that scenario happens.

[Griffith]

private network setup as its for bank to bank transfers.

if there is trillions to be made they will make it open to the public at some point.

and that is the bet i am making right now that in the coming years it will merge with the public ethereum network.

it will be just like the USD but digital. everybody trades usd around the world because its fucking easy. Shortly they will trade ethereum so imagine how much demand there will be for eth 'if' that scenario happens.

If the major banks will be using Ethereum, where would that leave Bitcoin?

[luckyone]

In the "Long Run" will it only be one out of the two (Bitcoin vs Ethereum) to survive and the other to fade away OR is it possible/ likely? for both to be successful viable cryto currencies?

your brother in Christ,

Lucky

[gib]

In the "Long Run" will it only be one out of the two (Bitcoin vs Ethereum) to survive and the other to fade away OR is it possible/ likely? for both to be successful viable cryto currencies?

your brother in Christ,

Lucky

Both. Bitcoin for its function as a store of value. (The modern day equivalent of gold). And eth for its smart contract functionality.

And possibly a new coin or a derivative of bitcoin (such as bitcoin cash) for day to day small size high volume transactions.

[Soul Crusher]

Both. Bitcoin for its function as a store of value. (The modern day equivalent of gold). And eth for its smart contract functionality.

And possibly a new coin or a derivative of bitcoin (such as bitcoin cash) for day to day small size high volume transactions.

If there is a natural disaster , the electric goes out, grid goes down, EMP , etc - what good is bitcoin vs gold or silver, ammo, etc?

[gib]

If there is a natural disaster , the electric goes out, grid goes down, EMP , etc - what good is bitcoin vs gold or silver, ammo, etc?

First of all, remember that btc will not disappear in the event of such an event. It just will be that you cannot access them until power and internet is restored. The same would apply to any money in any bank and to any publicly traded stock. So it would need to be an absolutely cataclysmic event for this to occur. To give you some perspective, the US could blow the fuck of North Korea and absolutely obliterate it, but as a Korean, if you had your money in bitcoin, that would survive and you could access that anywhere in the world as a refugee, escapee, survivor etc. Even in Korea if you wanted to bribe officials, United Nations people, American soldiers, all you would need is a phone they could lend you and your passwords and you could anonymously transfer funds to them instantly.

Many US based survivalists are big bitcoin believers. Having said all that, gold also has it’s place for end of the world type scenarios.

[polychronopolous]

Litecoin - $410

[Mr Anabolic]

The Twinkletoe twins are making the rounds on MSM financial shows now. Pumping bitcoin of course. They are saying bitcoin is gold 2.0 and that gold has been in a bubble for 3000 years.  They also said they haven't sold, and have no plans to sell their bitcoins.  Sure.
 
This is exactly what the dot.com kids did during the tech bubble and real estate moguls/builders did during the housing bubble... they made sure they were on every financial tv program, pumping like mad, then a few months afterward, the bottom fell out.  CNBC had that tan man from Countrywide on everyday pumping his company, all the while he was dumping his company stock.  I can't remember his name, but I know he never went to jail. 

[Mr Anabolic]

I just bought more gold and silver today. 

Dirt cheap, especially silver.

[Griffith]

The Twinkletoe twins are making the rounds on MSM financial shows now. Pumping bitcoin of course. They are saying bitcoin is gold 2.0 and that gold has been in a bubble for 3000 years.  They also said they haven't sold, and have no plans to sell their bitcoins.  Sure.
 
This is exactly what the dot.com kids did during the tech bubble and real estate moguls/builders did during the housing bubble... they made sure they were on every financial tv program, pumping like mad, then a few months afterward, the bottom fell out.  CNBC had that tan man from Countrywide on everyday pumping his company, all the while he was dumping his company stock.  I can't remember his name, but I know he never went to jail.  

According to Bloomberg, 1000 people own 40 % of Bitcoin.

Some people are even mortgaging their homes to buy Bitcoins.

[SOMEPARTS]

The Twinkletoe twins are making the rounds on MSM financial shows now. Pumping bitcoin of course. They are saying bitcoin is gold 2.0 and that gold has been in a bubble for 3000 years.  They also said they haven't sold, and have no plans to sell their bitcoins.  Sure.
 
This is exactly what the dot.com kids did during the tech bubble and real estate moguls/builders did during the housing bubble... they made sure they were on every financial tv program, pumping like mad, then a few months afterward, the bottom fell out.  CNBC had that tan man from Countrywide on everyday pumping his company, all the while he was dumping his company stock.  I can't remember his name, but I know he never went to jail. 

They are skimming big $$$ from their own exchange(Gemini) so they don't need to sell. The exchanges are the weakness. People will be begging for regulation on them as they continue to be clunky and cost people money on trades mark my words.

[ratherbebig]

well you cant lose on bitcoins

you just cant

its the future

no matter how much you put in you gonna make at least x1000 more, probably more likely x10000

in fact, in the future everyone will be a multimillionaire.

last i heard companies, thousands of them have started to pay their workers in bitcoins.

bitcoins just goes up and up, there is no roof, no ceiling, not now, not ever.

i've talked to a lot of people in finance, they all say the same thing - wanna know the inside on bitcoins? go to bodybuilding msg boards. and so i did. and here i am.