Bitcoin to hit $500,000 mark by 2030?

Quote: djatc

Time to buy some more BTC, it's a sale

The whole problem for every 1000 bitcoins sold the price drops $30. There is so little volume right now compared to prior to the move from a 1000.00. No way it doesn't see a 1000 again. This grasshopper has no legs. The whole thing reeks of manipulation.

Does anyone know if Bitcoin deposited into gambling sites remains as Bitcoin on deposit until wagered, or is it converted to currency at time of deposit?

Quote: MaxPen

Does anyone know if Bitcoin deposited into gambling sites remains as Bitcoin on deposit until wagered, or is it converted to currency at time of deposit?

That is a fine question. I dont know. Lets think about it. My common sense says safer to keep the bit coin. If a player were to lose 80% of the buy-in, but bit coin went up quite a bit during the time, they would lose money. If the value plummeted during this time, they would lose potential, but still profit on the game. I'd think the casino would be smart to hoard the bit coin as much as could be cashed out at once to not have a crisis.

Quote: MaxPen

Does anyone know if Bitcoin deposited into gambling sites remains as Bitcoin on deposit until wagered, or is it converted to currency at time of deposit?

It's deposited as currency. So you're wagering USD when playing, not BTC. At least the ones I know of.

BTC $2726 now.

Quote: RS

BTC $2726 now.

After passing $3,000 just days ago, the crash continues. It is now around $2400.

Quote: Wizard

After passing $3,000 just days ago, the crash continues. It is now around $2400.

That's not a crash. That's an opportunity. BTC was incredibly high and the RSI was at the roof. Of course it's going to bounce a bit. Ethereum's market cap is catching BTC so I would not be surprised to see a lot of selling and maneuvering to continue.

Quote: JoelDeze

That's not a crash. That's an opportunity.

We shall see. I would put the current bull market as starting on 5/23/16 (my birthday!) when it was $474. As far as I know, it has been just gambling pushing up the price since then. I will consider buying if it gets below $500, where I think it should be.

Quote: JoelDeze

That's not a crash. That's an opportunity. BTC was incredibly high and the RSI was at the roof. Of course it's going to bounce a bit. Ethereum's market cap is catching BTC so I would not be surprised to see a lot of selling and maneuvering to continue.

If the Stock Market dropped 20% in a day, which probably can't happen with the curbs, it would be called a crash. But some would also call it an opportunity.

Quote: JoelDeze

That's not a crash. That's an opportunity. BTC was incredibly high and the RSI was at the roof. Of course it's going to bounce a bit. Ethereum's market cap is catching BTC so I would not be surprised to see a lot of selling and maneuvering to continue.

My understanding is that Ethereum implements a Turing complete language for users(vs Bitcoin's stack based language), dramatically increasing the attack surface. I think the probability of eventually success is much lower.

As for Bitcoin's value, I feel like it could be very bimodal. As in, what's the market cap if it takes over the world, and how likely is that.

The lack of a liquid market to go "short" is a real problem. This might not be intuitively obvious to those who are strictly fans of the concept cheering any rise, but if it is to 'grow-up' at some point it will be important for it to have that. Short sellers serve an important function in making markets.

Is there any transparency on the origin of BTC purchases? Not individually, but by the type of sovereign national currency used to get into BTC positions, or other information that would be specific to geography of the original transactions/holdings?

I ask because nearly all the discussion of it I see is very US-centric, involving aspects most interesting to some social groups within the West, but I strongly suspect that much of the volume and therefore the most important predictor of future volatility is likely coming from those holding Yuan and Rubles, and then perhaps Rupees and Ringgits and Won, not primarily from Dollars or the Pound Sterling.

I'm very much a skeptic of BTC as a medium of exchange. But having said that, if the BTC/USD price movement was the chart of an equity (stock) or a commodity like copper or soybeans, I would not be thinking of the recent pullback as a crash in the sense of necessarily being a clear indication of a reversal of direction after the parabolic rise. Yet. It could be taken as a typical consolidation before a further rise. Or, not. If I was a speculator in it, I would be looking for the breaking of some longer trendlines, or the resumption of them.

But on yet another hand, that volatility to the upside, just as much as significant drops, makes it very problematic as a currency. For the specific purpose of potential use as an alternative currency, major upswings in relative value are NOT a good thing. They are good for those speculating in the asset value of it on the long side, but that is something different. For a thought experiment to illustrate one aspect of that problem, think about entering into contracts over time denominated in something that may require much more of your national currency over the term of the agreement. Possibly exponentially increasing amounts. I wouldn't want to buy even a Chevy like that, or agree to sell one over time.That's just one aspect of the volatility problem. In order to be more than a "prove how trendy we are at Gizmos-R-Us" thing, it would have to achieve a much greater degree of stability, not big rises (or falls), and do so for long enough that there was widespread confidence it would stay that way... by NOT going up (or down) so very much in Dollar/Euro/Pound terms.

But whether that ever eventually happens or not, my strong suspicion is that for recent movements it isn't being driven mostly by US/Western BTC enthusiasts; more so by Chinese liquidity in the hands of well connected Party members in the great workers' and peasant's paradise of the People's Republic, and the peculiar *ahem* 'informal-unofficial' needs of Russian so-called "oligarchs" and the like. And that to predict the next soaring or crashing move, I'd need to predict factors related to THAT, not so much the enthusiasms of trendy USA technophiles.

But I have no data whatsoever to back up that suspicion, or refute it.

Therefore:
[ x ] Bigot

The crash continues. Bitcoin at $2211

Ill let you know when it's time to buy.

Time to close out your position with RS, Mike..... just sayin

Quote: lopez77

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Quote: lopez77

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do you take Wizcoins?

'ello, my named is Barusch, wealthy within Nigeria. My dearest Father of whom have become wealthy by way of great comedy, humor, and art, for which we are known. For fear Of what my gret country has to become, I do wish myself move to land far away, of which to including moneys in The Nigerian Banking Insitution Of Nigeria. For it corrupt and steal moneys, To you I welcome my money, after my 10% gift to you for. Yourself may return but 90% to me (Jordan Smith). Myself's family be of upmost character and my reaching to you because. After transaction success, we continue.

God & Allah blesses you,
Michael Anderson

Quote: RS

'ello, my named is Barusch, wealthy within Nigeria. My dearest Father of whom have become wealthy by way of great comedy, humor, and art, for which we are known. For fear Of what my gret country has to become, I do wish myself move to land far away, of which to including moneys in The Nigerian Banking Insitution Of Nigeria. For it corrupt and steal moneys, To you I welcome my money, after my 10% gift to you for. Yourself may return but 90% to me (Jordan Smith). Myself's family be of upmost character and my reaching to you because. After transaction success, we continue.

God & Allah blesses you,
Michael Anderson

Why weren't we invited to your wedding .

Quote: RS

'ello, my named is Barusch, wealthy within Nigeria. My dearest Father of whom have become wealthy by way of great comedy, humor, and art, for which we are known. For fear Of what my gret country has to become, I do wish myself move to land far away, of which to including moneys in The Nigerian Banking Insitution Of Nigeria. For it corrupt and steal moneys, To you I welcome my money, after my 10% gift to you for. Yourself may return but 90% to me (Jordan Smith). Myself's family be of upmost character and my reaching to you because. After transaction success, we continue.

God & Allah blesses you,
Michael Anderson

I hope you copy and pasted that, if not I think we all know what your side business is

Quote: GWAE

I hope you copy and pasted that, if not I think we all know what your side business is

Pretty good, huh?

I think I could be a pretty good Nigerian scammer and write emails like that well, not to toot my own horn.

Move Over, Bitcoin. Ether Is the Digital Currency of the Moment. https://nyti.ms/2tGpm9A

Ether flash-crashed 96% today from over $300 to $13 because of a single tweet. It's rebounding but the cracks are starting to show.

Forgive my ignorance, but is Ether the same thing as Etherium? This site shows the latter is down only about 10% in recent days, much like Bitcoin.

Yup, the same thing. This site has it at $299 at the moment.

Flash crash means it dropped a large amount in a few minutes and the recovered a few minutes later.
Daily open/close may not reflect the price action.
Probably due to a thin, low volume market with computers programs making real time trading decisions.

I bought $50 of bitcoin in early 2011 and got 55 Bitcoin from it. I felt like a genius cashing out at $18

Bitcoin has almost no future because it fails at being what it's intended to be, a good form of currency. The only thing it's good for is doing things that require anonymity and other coins do a better job at it, and even when you use bitcoin in that manner, most people cash it out immediately when able because of how volatile the price is which is the root of the problem with bitcoin. The only reason it's so expensive is that it's the first and it is very easily replicated and improved upon, which is where you get things like ether.

The entire economy of bitcoin is based on investor speculation. it has a 1.5 billion dollar trading volume when it is used for almost nothing else. The key is that people aren't buying it to use it, they're buying it to sell it for their local currency later since they know they can't buy anything with it. The biggest thing that perturbs me is that in what world does the value of a currency equate to how strong it is? Is the Pound Sterling a stronger currency than the USD because it's worth more? It all comes back to the fact that no one wants it except to make more money off of it, which guarantees a crash and to be honest, every other coin, including ether, will have the same problem

If a crypto-coin comes out that has a stable price and has wide adoption, I will consider it successful.

Yes, and when the ETH flash-crash happened many exchanges crashed under the weight of the traffic it caused - trapping in those who wished to bail and preventing any support of the price from buyers. Another giant red flag for anyone viewing these things as "investments" or store of value.

It fell to as low as ten cents which triggered a three coin buy order that later sold at 314.00.

Ethereum making good on all transactions.

All cryptocurrencies getting crushed again right now. ETH down to $267. Here's a good price list: https://coinmarketcap.com/

Best site is this in my opinion for all cryptocurrencies in one shot.

https://nodeinvestor.com

I'll let you guys know when it's time to buy bitcoin. Watch and learn.

LMAO!!! How much are down so far on your card-counting venture? ASNA is still down about 30% from that buy recommendation too.

Quote: ZenKinG

Best site is this in my opinion for all cryptocurrencies in one shot.

https://nodeinvestor.com

I'll let you guys know when it's time to buy bitcoin. Watch and learn.

I thought you were cursed?

Quote: Skeptic

LMAO!!! How much are down so far on your card-counting venture? ASNA is still down about 30% from that buy recommendation too.

double post

Quote: Skeptic

LMAO!!! How much are down so far on your card-counting venture? ASNA is still down about 30% from that buy recommendation too.

Down 30% from my buy recommendation? I suggest you go actually read when i recommended it then get back to me. Must be nice to just call out someone without fact checking it first. Might start doing that as well.

Card counting wise, i like how you put a nice vague statement to make it sound like im a losing player. Im down -8500 in VEGAS, but overall im up 33k so go troll someone else. Losing is part of it and im probably getting cheated as well in this mob infested town, but it is what it is.

Still coming back to the cheating and now someone is "trolling". Have you reached out to any newspapers, networks or even reality show producers with your theories of mob involvement in cheating Las Vegas casinos? Has to be money in it for you with all you have discovered.

I think most gave up on you and really don't care but you do have to realize your actions affect others. Now some poor spider is cursed because he interacted with you. You of all people should understand we need to be one with nature.

I read about 5 years ago that the value of bitcoin was between $35 and $35,000. And nobody knew the real number. I think that statement is still correct.

Quote: babanas2017

I read about 5 years ago that the value of bitcoin was between $35 and $35,000. And nobody knew the real number. I think that statement is still correct.

Five years later folks still haven't figured it out. From 3 weeks ago: Bitcoin’s Valuation Is Confusing Currency Analysts
The botom line seems to be you're better off thinking of it as a commodity or an exchange medium than as a currency.

Quote: Skeptic

LMAO!!! How much are down so far on your card-counting venture? ASNA is still down about 30% from that buy recommendation too.

Looks like bitcoin is crashing just as i forecasted. My target to buy is gonna be around 1900-2000, but could be slightly higher. Whenever that RSI reaches 25-30, watch it skyrocket back up. Right now the RSI is at 40. In fact it could actually rocket up around 35 RSI but eventually it will come back down to 25-30. Look at the 5 year RSI chart of how predictable the trading has been. I might actually take a small position around the 35 mark as it could potentially shoot up from there as well.

The plan is to go with bitstamp, but not sure ill be able to pass the identification requirements since i now live in vegas and still have a NJ license. Going to take 2-5 days as well to get money into it. I also still have to buy the TREZOR hardware wallet. Hopefully i can buy in before it shoots up. Going to put about 35k into it for about a 50-60% profit in about 3 months or so.

Has anyone else had any experience with bitstamp? Bitstamp and coinbase seem to be the top 2, but overall bitstamp seems to be better with the fee schedule.

Quote: ZenKinG

Looks like bitcoin is crashing just as i forecasted. My target to buy is gonna be around 1900-2000, but could be slightly higher. Whenever that RSI reaches 25-30, watch it skyrocket back up. Right now the RSI is at 40. In fact it could actually rocket up around 35 RSI but eventually it will come back down to 25-30. Look at the 5 year RSI chart of how predictable the trading has been. I might actually take a small position around the 35 mark as it could potentially shoot up from there as well.

The plan is to go with bitstamp, but not sure ill be able to pass the identification requirements since i now live in vegas and still have a NJ license. Going to take 2-5 days as well to get money into it. I also still have to buy the TREZOR hardware wallet. Hopefully i can buy in before it shoots up. Going to put about 35k into it for about a 50-60% profit in about 3 months or so.

Has anyone else had any experience with bitstamp? Bitstamp and coinbase seem to be the top 2, but overall bitstamp seems to be better with the fee schedule.

Good Luck

Actually im pretty sure it will hit 25-29 RSI before it shoots up. Just need to get verified now. I might not be able to make it in time unfortunately.

Once again, what did I say? Im turning out to be the king of the markets now as well. 25 RSI approaching and bitcoin crashing. RSI currently at 32 and dropping. Ill let you know when to pull the trigger. You should be buying at least some right now with a small position as it could rocket up from here, but if it reaches 25-30 RSI load the boat.

As for me, im having trouble really trusting these bitcoin exchanges with my money, from what ive read many people have had trouble withdrawing any considerable amount of money when it's time to withdraw. I havent even found one person yet that has claimed that they withdrew a large amount successfully. It's really a shame. If anyone knows anyone and can vouch for the legitimacy of these exchanges like BitStamp or Coinbase that they will indeed pay out large sums, please let me know.

https://youtu.be/EgW563Rt58I?t=53

I'M a buyer of 2 Wizcoins at $1985.

Lock it in Mike.

Quote: AxelWolf

I'M a buyer of 2 Wizcoins at $1985.

Lock it in Mike.

actually , make it anything under 2k.

Buy sheep, sell deer!

Is it that time to edit or delete all my pro-bitcoin posts so I can be cool?

I just can't wrap my mind around "investing" in a method of payment. I wouldn't invest in postal money orders. This is raw price discovery and highly interesting though. Stuff trades like penny stocks on steroids. Will take another look at BTC in the 1000 range.

Quote: ZenKinG

Looks like bitcoin is crashing just as i forecasted. My target to buy is gonna be around 1900-2000, but could be slightly higher. Whenever that RSI reaches 25-30, watch it skyrocket back up. Right now the RSI is at 40. In fact it could actually rocket up around 35 RSI but eventually it will come back down to 25-30. Look at the 5 year RSI chart of how predictable the trading has been. I might actually take a small position around the 35 mark as it could potentially shoot up from there as well.

The plan is to go with bitstamp, but not sure ill be able to pass the identification requirements since i now live in vegas and still have a NJ license. Going to take 2-5 days as well to get money into it. I also still have to buy the TREZOR hardware wallet. Hopefully i can buy in before it shoots up. Going to put about 35k into it for about a 50-60% profit in about 3 months or so.

Has anyone else had any experience with bitstamp? Bitstamp and coinbase seem to be the top 2, but overall bitstamp seems to be better with the fee schedule.

Bitstamp has too many requirements to open an account. I wouldn't waste my time with them. If you wire your money to coinbase, you should move it to their exchange platform called GDAX. If you place a limit order and it gets filled, you pay no fees. If you trade within the site and keep your coins there, they won't bother you. But if you got coins leaving their site and coming back all the time they will question your activity and possibly shut you down.

As far as getting money out of coinbase, I don't know. I sell my coins to a bitcoin ATM operator.

Quote: MaxPen

I just can't wrap my mind around "investing" in a method of payment. I wouldn't invest in postal money orders. This is raw price discovery and highly interesting though. Stuff trades like penny stocks on steroids. Will take another look at BTC in the 1000 range.

It is a penny stock on steroids because it is a global market and not confined to one stock exchange. Lot of fun to trade, especially because the market never closes.

Bitcoin is getting really close to the buy level i recommended. The only problem i see which i found out recently is that there is some big news coming on Aug 1st about a hard fork with bitcoin and bitcoin could potentially be split into two coins that would likely drop the price of the original coin.

Im still pretty confident with my RSI analysis and i think negative news is already pricing itself in if it does split up into two coins. I see 3000-3500 within 2-3 months. Buying anywhere from 1800-1900 is a good buy