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Bitcoin Chart Fractal. $5000?

Discussion in 'Digital Currencies' started by Nomis Elpmis, Feb 24, 2016.



  1. Joe King

    Joe King Gold Member Gold Chaser

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    I know and understand plenty about Au/Ag and I'm plenty enough grown up. At least grown up enough to not have to use insults to make a point.
    ...and I'm not looking for only fast bux either, but if they appear in something I was wise enough to buy prior, where's the harm?

    If gold were to go up by 51% in one month and you needed some cash and decided to sell an ounce or two, you'd refuse the extra 51% on honor?

    The only reason you or anyone saves it is because it's assumed it will increase in value. Ie: people will pay you more for it than you paid for it. Otherwise, there's no point in owning anything as an investment if you believe it will decrease in value.
    ...or even if they pay the same, in our inflationary monetary system it'd still be an automatic loss.

    Face it Mr Duck, gold is a commodity in the current financial environment.
     
  2. solarion

    solarion Gold Member Gold Chaser

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    Actually it went up $30 while you were typing that. Now up 60% for the last 30 days.
     
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  3. GOLD DUCK

    GOLD DUCK Mother Lode Found Mother Lode

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    QWAK,Face it Joe, you are a pain in the ass like a HEMEROID ----- Go away and STOP bothering ME!:thumbs down:

    the DUCK :winks2:
     
  4. Joe King

    Joe King Gold Member Gold Chaser

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    Could ya imagine the reaction if silver ever had a $30 day?
     
  5. Joe King

    Joe King Gold Member Gold Chaser

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    It's you who are being the bother. It is a btc thread, after all. We all know you're against it, and that's fine. Isn't there a gold thread around here somewhere you can QWAK into? lol

    Edited to add: hey look! Golds up $12. Woo hoo! Double plus good day today.
     
  6. GOLD DUCK

    GOLD DUCK Mother Lode Found Mother Lode

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    QWAK,JOE,Just remember easy/fast come even faster GO! IN 20 years my GOLD will still buy about the same as it does today and did 100 years ago the bit coin will be just a FART in the WIND much like your self!:dduck:

    the DUCK:winks2:
     
  7. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    Rumor has it that Bitcoin will be the world's reserve currency shortly..:-) Gotta be positive...
     
  8. GOLD DUCK

    GOLD DUCK Mother Lode Found Mother Lode

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    :dduck::dduck::dduck::dduck::dduck:
     
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  9. Joe King

    Joe King Gold Member Gold Chaser

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    Why be satisfied with buying the same thing in 20 years if you could do something that'll get you double that?
    ...and you said something about never selling and leaving it to your heirs? If so, you might want to write a clause in your Will that they not sell it either, because chances are that's what'll happen as soon as they get it.

    Believe me Mr Duck, I'm actually on your side with regards to gold. Over time, it tends to be a good way to preserve purchasing power, but those who don't "get it" about PMs are more often than not, likely to sell it for cash as soon as they ever get any. Holding it is not how they work. I've given several people small amounts of PMs and with only one exception, all of it was sold relatively soon. All they really want to know is, "what's it worth?"....as in today.

    So have fun saving your gold. Enjoy it while it's there.
    btw, your first name wouldn't happen to be Scrooge, would it? lol
     
  10. Joe King

    Joe King Gold Member Gold Chaser

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    If that ever happens, all you'll need is just a "bit" of it to do well.

    Edited to add: ...and I hope you don't mind the Duck and I exchanging banter in your thread. Wasn't tryin' to hijack it or anything. Just trying to have a "bit" o' fun with it. lol
     
    Last edited: Jun 15, 2016
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  11. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    Below is an excerpt from a Bitcoin speculation thread from another forum. It takes a super conservative guess at what the price may be in a few years.


    Incoming $163,000,000,000 market cap and $7700+ coins


    Where does this number come from? Easy, most long term Bitcoin skeptics have now done a complete 180 and claim you should invest 1% "just in case". Even hardcore Zerohedge readers who only believe in gold and aren't into Bitcoin at all say this. People with low net worths, or not of the investment class, will be more hesitant to do such a move, but many also will. For the sake of simple calculation, we will say that only millionaires would be willing to risk that type of cash, 1% of their net worth, or $10,000.

    Since there are 16,300,000 millionaires on earth, 16,300,000 x $10,000 = $163,000,000,000 market cap

    $163,000,000,000 divided by 21,000,000 Bitcoins = $7761 coins

    Market cap doesn't actually work like this though, so the price would likely be far higher with that much real cash going in.

    This also assumes they only have one million dollars when these 16.3 million people also include multi-millionaires and billionaires, so they would be investing more than $10,000 if they did 1% of their wealth. If you don't low ball how market cap works, or low ball the amount of money these 16.3 million people have, the real value would probably reach something like $100k-500k+ while acting soley as something rich people hedge 1% of their wealth in without the mainstream even using or touching Bitcoin.
     
  12. Joe King

    Joe King Gold Member Gold Chaser

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    If that were to happen, all the nay-sayers heads would likely 'splode. Ka-BOOM! besplode.gif
     
  13. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    If Bitcoin continues to follow a 3rd iteration of 'the pattern', my mind will be blown..:-)
    bitcoin.jpg
     
    Last edited: Jun 19, 2016
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  14. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    And bitcoin is crashing right not. It was in the $700s and now it's at 551.92 down 8.45%
     
  15. Joe King

    Joe King Gold Member Gold Chaser

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    That's ok. Nothin' goes straight up or down.
    ...and the bigger the climb or fall, the more likely there will be a proportional correction. Same thing would happen to Au or Ag if it took a 51% gain in 3 weeks time. It's called profit taking.

    Btc is a roller coaster. Just like Ag can be. The issue is the potential for huge gains and or loses. For people who only see the potential down side of things, btc is not for them. However, if you are ok with a bit of risk as the price of a potentially huge payoff, why not take a chance with it? As long as you don't mortgage the farm to do so, where's the harm in having a stake in the game?
    Edited to add: I'd think anyone that's ok with Ag's ups and downs would feel right at home with btc.
     
  16. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    Was too optimistic. Thought about putting the consolidation at $800ish. $50 x 4= $200, $200 x 4 = $800 (high was $773). My super psychic genius status is revoked..:-)
     
  17. Joe King

    Joe King Gold Member Gold Chaser

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    Just give it time. As long as it's a thing, it'll eventually get there. Even if only because of the deflationary nature of btc. The fact that there will only ever be so many of them is one of the best things going for btc.
    ...but some people are so used to inflationary currency that anything else seems strange and foreign to them.
     
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  18. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Bitcoin is liking the brexit.

    $665.05 6.32%
     
  19. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    Super subtle sentiment symmetry system says back up to $750+ real soon??? ..:-)
    bitc.jpg
     
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  20. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    Bitcoin is back on track. I'm currently up 33%. I own 10. Supposedly if you own double digit bitcoins you will reach millionaire status one day. I'm a patient guy...

    upload_2016-10-28_23-3-16.png
     
  21. Flight2gold

    Flight2gold Silver Member Silver Miner Site Supporter ++

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    When do you think it will really go through the roof one day?
    Possibly when some currencies start to collapse?
     
  22. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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  23. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    upload_2016-11-1_9-50-37.png According to headlines somethings going on in China
     
  24. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    Bitcoin reacting to a likely Trump win.
    upload_2016-11-9_0-14-41.png
     
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  25. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    Up tick in Bitcoin. New high.
    upload_2016-12-2_10-22-14.png
     
  26. smartypants

    smartypants Seeker

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    Litecoin should be a nice buy now.
     
  27. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    Bitcoin breaks $800. In your face gold and silver!..:-)
    upload_2016-12-20_21-50-37.png
     
  28. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    Gold and silver are old dogs that should be put down!..:-)
    upload_2016-12-21_10-36-13.png
     
  29. solarion

    solarion Gold Member Gold Chaser

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    buh but ...THE STRONG DOLLAR!?!
     
  30. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    Yes, dollar is capping gold. Damn Donald Trump and his winning!.:-)
     
  31. solarion

    solarion Gold Member Gold Chaser

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    Yeah that's the story.

    Oh look, once again the dollar is down AND gold and silver are down.

    Gold and silver must be capped by something else then. Something that isn't capping bitcoin. Gee I wonder how many naked short bitcoin contracts are floating around.
     
  32. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    21st century wealth is 'virtually' being made here, . Gold and silver are barbaric relics!..:-)
    upload_2016-12-21_22-24-30.png
     
  33. Poorman

    Poorman Seeker

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    LOL

    You dipshit comet traders are hillarious.

    Oh look and here comes Jupiter!

    Born again.

    Just like Ison.

    But But it's China!!

    How can you buy more Bitcoin if your currency is worth less?

    [​IMG] [​IMG] [​IMG] [​IMG] [​IMG] [​IMG] [​IMG] [​IMG]

    45P/Honda–Mrkos–Pajdušáková light curve:

    [​IMG]

    In February your bubble pops Bitcoin.
     
  34. Poorman

    Poorman Seeker

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    Bitcoin is nothing without gold and silver.

    Just ask all the electronics that are needed just to interact with Bitcoin.

    You got all those gold plated contacts and SAC solder.

    You are adorable!

    Tricky game right can't manipulate that Gold and Silver to low or you run out of raw materials to build your tecno heaven plus all the plebes will take it all.

    Try this on for size what does it mean when your asset (Bitcoin) is going up in terms of a claim check on an IOU?

    Means you are slowly becoming king of monetized debt mountain.

    The Federal Reserve packing up and handing the funny money job over to Bitcoin is a massive debt swap.

    If you like your monetized debt you can keep your monetized debt.

    Gold and siver enable your machine to run.

    Without it your smart phones, asic miners, tablets, pcs and laptops just suddenly stop working.

    That relic is your backbone fool.

    But hey take it to the monetized debt moon and blast off into the future where resources are infinte!
     
  35. solarion

    solarion Gold Member Gold Chaser

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    lolwut? STFU a-hole.

    ...oops forgot I could just mute the feg. lol Dude seriously needs something else to rant about once in awhile.
     
  36. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    Donald Trump is making Bitcoin great again! Gold and silver can suck my ass..:-)
    upload_2016-12-22_21-45-41.png
     
  37. Poorman

    Poorman Seeker

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    Truth not your cup of tea I see.

    Comets get close to the sun and get so bright.

    Bitcoin follows as the price "shines" bright at the same time.

    THAT IS CALLED A MANIPULATED MARKET.

    Nothing real about it except that it is priced in IOU's!
     
  38. Poorman

    Poorman Seeker

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    Nope Bitcoin High Frequency Traders that program bots just like wall st are making Bitcoin great again.

    Make sure you take all the gold and silver out of the electronics that you need to support bitcoin before you tell it to suck your ass.
     
  39. goldielox1

    goldielox1 Seeker Seeker

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    The intrinsic value of a bitcoin is zero. Can one make money off owning it? Sure, just like anything, it's worth whatever people will pay for it. So if you buy a bitcoin at $100 and sell it at $200, you made a $100 profit. That doesn't mean it intrinsically has value though. There's no fundamental reason for it to be worth anything more than $0.

    People make money off bankrupt company penny stocks. Even though they're worth $0, someone may need to close out a short position or some other sucker may want to bet that another sucker will pay even more. As long as you can find a "greater fool", you can come out ahead. The problem is, when the music stops, whoever is left holding the bag opens it to find it's empty. Of course fiat currencies are the same.

    I think there are uses for bitcoin, but there are better gambles if I wanted to bet on something uncertain. I think it's great for moving your stash across a border. Imagine if Au were illegal to move out of the US. One could sell it here in the US, exchange dollars for bitcoin. Then move to Switzerland. Buy Au with bitcoin in Switzerland. A lot safer and easier than smuggling your Au and Ag bars over.

    Ag and Au have been money since man was created. That isn't going to change. The sun looks a lot like a gold coin, the moon looks a lot like a silver coin. Coincidence?
     
  40. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    Hit $911 then sold off. I'm actually a gold and silver bug. Own physical and mining stocks. Just blowing off steam because of the downturn in the metals. It's nice to have one of my investments, moving in the right direction, even if it's 'virtual'..:-)
    upload_2016-12-23_11-14-23.png
     
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