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Bitcoin Chart Fractal. $5000?

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



  1. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

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    $1354 today and could crash to nothing at anytime just like other currencies. The only problem is it is not exactly cash plus there are fees when you use it.
     
  2. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    ......................or $1354 today could be, for example, $5000 (or more) in the future.

    I see the point you are making and I agree with this but we really do not know one way or the other what bitcoin is going to do. I will use your point in the above post by using myself as an example by saying if bitcoin goes from $1354 to $0, then that is not a big loss to me (from $30.30 to $0) since my bitcoin investment is only 0.022 BTC. I am comfortable losing $30 in a bitcoin investment if the worst ends up happening to Bitcoin. No loss of sleep here.
     
    Last edited: Apr 27, 2017
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  3. birddog

    birddog Gold Member Gold Chaser

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    I see it as a lottery ticket. Buy a little bit, if the world doesn't blow up, it will probably increase in value. If the world does blow up, who gives a shit?
     
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  4. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Yep. That is the best way to describe bitcoin IMO. For me, my 0.022 BTC investment/gamble in bitcoin (from earning them from the bitcoin faucets) is "skin in the game" in bitcoin and my "lottery ticket" for a potential BTC "to da moon" shot.
     
  5. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I checked my coinbase account to see how my 0.022 BTC "lottery ticket" is doing. The Coinbase bitcoin $ price quote is now at $1377.85 which now shows my "lottery ticket" currently worth $30.84.

    Bitcoin............................TO DA MOON!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
     
  6. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I checked my coinbase account to see how my 0.022 BTC "lottery ticket" is doing. The Coinbase bitcoin $ price quote is now at $1458.00 which now shows my "lottery ticket" currently worth $32.61.

    Bitcoin............................TO DA MOON!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
     
  7. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I checked my coinbase account to see how my 0.022 BTC "lottery ticket" is doing. The Coinbase bitcoin $ price quote is now at $1481.50 (as of this post) which now shows my "lottery ticket" currently worth $33.15.

    This "lottery ticket" is my ticket for my bitcoin "to da moon" shot. If I wake up and bitcoin is $0 then.............................MEH!!!!!!!
     
  8. anywoundedduck

    anywoundedduck Gold Member Gold Chaser

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    I buy silver when I have a hankering for playing the lottery. If the world blows up, it will increase in value.
    If the world blows up Bitcoin will disappear along with the internet it depends on for transactions. Should communications be restored, Bitcoin may never be restored. Nobody will trust it any longer.
    But by all means, invest your money in bitcoin!
     
  9. Joe King

    Joe King Gold Member Gold Chaser

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    A scenario similar to '08 is exponentially more likely than a complete system shutdown. I remember seeing people selling anything they had at a fraction of its worth in order to get by. Silver was $10/oz.


    Is everything you do in life based upon the possibility of all-out collapse and the end of civilization as we know it? How you gonna get gas for your car? Best start riding a bike now so you'll be used to it later. Do you currently grow all your own food? If not, better start. Won't be a store no' mo', better not get used to being able to go get whatever you want at the market 24/7. It won't be there one day.


    Bottom line is, if there were only ever going to be 21million oz/Ag in existence, Ag would be doing the same thing BTC is doing.
    Also, if govs actually allowed their People true economic freedom, btc would have never been a thing, as there would be no need for it.
     
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  10. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I checked my coinbase account to see how my 0.022 BTC "lottery ticket" is doing. The Coinbase bitcoin $ price quote is now at $1513.97 (as of this post) which now shows my "lottery ticket" currently worth $33.88.

    This bears repeating..............This "lottery ticket" is my ticket for my bitcoin "to da moon" shot. If I wake up the next day and bitcoin is at $0 then.............................MEH!!!!!!! I can just drown in my sorrows by looking at and fondling some of my '70's silver art bars.

    :2 thumbs up:
     
  11. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I checked my coinbase account to see how my 0.022 BTC "lottery ticket" is doing. The Coinbase bitcoin $ price quote is now at $1571.96 (as of this post) which now shows my "lottery ticket" currently worth $35.20.

    Maybe this is the beginning of the "to da moon" shot that everyone is waiting for but then again..............................Maybe bitcoin will "die" for the umpteenth time since it was "born".
     
  12. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I checked my coinbase account to see how my 0.022 BTC "lottery ticket" is doing. The Coinbase bitcoin $ price quote is now at $1622.99 (as of writing this post) which now shows my "lottery ticket" currently worth $36.23. My bitcoin "lottery ticket" is up 227% from June 9, 2016.

    With the way that bitcoin is moving up, maybe $5000 bitcoin is not so outrageous but then again, I could wake up tomorrow morning and bitcoin could be at $0. I am not scared.
     
  13. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    The $ price of bitcoin is now over $1900. Currently at $1901 based on most recent bitpay quote.
     
  14. smartypants

    smartypants Seeker

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  15. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Bitcoin is now at $1937.02 according to latest Bitpay quote. After the Bitcoin ETF got rejected by the SEC, the bitcoin low was around $900 and now after moving $1037 up from that low, it is now approaching $2000. I am making a WAG that $2000 Bitcoin will occur between later today and mid-Sunday morning (May 21, 2017). We will see. Yep this popcorn taste great and the "bitcoin movie" is wonderful to watch.
     
  16. Joe King

    Joe King Gold Member Gold Chaser

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    It's a gonna crash! Grid goin' down for good any day now. No electric, no btc! PooF! All goners!






    (Just trying to beat the naysayer rush! lol)
     
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  17. solarion

    solarion Gold Member Gold Chaser

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    Seems to be crashing...upward. Just crossed the $2k mark.

    [​IMG]
     
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  18. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    NOOOOOOOO!!!!!!!!!!!!!

    Oops! Nevermind. I just woke up from a nightmare that bitcoin went to $0 but I just remembered that I am no longer in bitcoin. LOL!!!! However, bitcoin did break $2000. It is currently at $2010 (based on latest Bitpay quote).
     
  19. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    It appeared that Bitcoin hit $2400 (based on coinmarketcap) and still climbing. Maybe the OP had a gut feeling about bitcoin hitting $5000.
     
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  20. Nomis Elpmis

    Nomis Elpmis Minimalist Silver Miner

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    Bcprogresss.jpg
     
  21. solarion

    solarion Gold Member Gold Chaser

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    Nobody knows what a bitcoin is worth in fiat terms. What we're witnessing is a free market trying to find fair value.

    16.3m of 21m bitcoins have already been mined and there are 7b people in the world. Who knows what a bitcoin is worth in fiat terms given that maths.
     
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  22. Joe King

    Joe King Gold Member Gold Chaser

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    Something like btc is what the World needs for a World reserve currency, as opposed to any particular nations internal currency being used that way.

    The fact it is not controlled by any one nation is a super plus in that regard.
     
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  23. Nomis Elpmis

    Nomis Elpmis Minimalist Silver Miner

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  24. solarion

    solarion Gold Member Gold Chaser

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    It's really not all that tough to envision as more and more people become aware of cryptos and the fiat scams that are all around them.

    Bix Weir just made an interesting comment at the tail end of an SGT report interview. He suggested that as the curtains close on central bankser's credit scams that they'll begin "printing" dollars to obtain cryptos. Now that'd be a site to see.
     
  25. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    According to coinmarketcap.com, bitcoin is at $2621.08. We are over halfway to $5000 per the title of this thread. My oh my................
     
  26. Joe King

    Joe King Gold Member Gold Chaser

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    Sorry Art, but your news is a bit dated. $2731.84
    100 bux in just the past 3 hours. Amazing!

    At this rate it'll hit that $5000 by the end of next Month. lol
     
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  27. Nomis Elpmis

    Nomis Elpmis Minimalist Silver Miner

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    Step 1: Go to 'Coinbase'.
    Step 2: Open a 'Coinbase' account.
    Step 3: Transfer some money to the account.
    Step 4: Buy some cyptocurrency.
    Step 5: Profit beyond your wildest dreams!

    Warning: Highly speculative. Invest accordingly.
     
  28. Joe King

    Joe King Gold Member Gold Chaser

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    Oops! $2757.77
     
  29. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I think you jinxed it. It is now down to $2517 according to coinmarketcap. It's ok. I forgive you.

    :2 thumbs up:
     
  30. Joe King

    Joe King Gold Member Gold Chaser

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    Actually $2437 as of right now, but that's ok. Still up from what it was.
     
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  31. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Oh no. You jinxed it again. LOL!!!! Now coinmarketcap has it at $2377.94 as of this post.
     
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  32. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    CNBC is talking a lot about bitcoin and cryptocurriences now. They are on it hard . They had "crypto experts" discussing Bitcoin and Etherum. I guess when BTC is up by so much in a very short period of time, CNBC will talk about it.
     
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  33. solarion

    solarion Gold Member Gold Chaser

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  34. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

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    Will be funny to read about all of the predictions after it crashes. Why doesn't the Treasury buy as many Bitcoins as possible and ride it up to pay off the national debt?
     
  35. solarion

    solarion Gold Member Gold Chaser

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    lol Seriously? Like $20T and $106T in unfunded liabilities?

    Yeah, I don't think that's coming out of the ESF any time soon.

    ...and bitcoin "crashes" every few hours.
     
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  36. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    .....and bitcoin "dies" occasionally. The CNBC's talking heads were still talking Bitcoin at last check and some of them were saying that it is good opportunity to be in it. Hmmmm.............Maybe the next Bitcoin "death" is imminent.
     
  37. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I laughed all the way to the Provident Metals "bank" on May 11, 2017 with my 281% return on my bitcoin investment:

    http://www.goldismoney2.com/threads...lver-no-frns-needed.85350/page-3#post-1191475

    http://www.goldismoney2.com/threads...lver-no-frns-needed.85350/page-3#post-1193462

    Since I am technically no longer in bitcoin (but still in crypto), then if bitcoin and the cryptos as a whole go to zero then...........MEH!!!!! If bitcoin goes to $5000 (or higher), then bummer...............for not staying longer on the ride. Either way, I will continue to eat my popcorn and watch this "bitcoin movie" play out.
     
  38. Joe King

    Joe King Gold Member Gold Chaser

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    If it can go up by triple digits in a day, it can go down by that same amount. Still above $2300 and when just a few months ago it was like $700 something, I can't complain.
    ...and with the run it's had so far, a pull back is almost to be expected. Kinda like Au hitting $1900 then pulling back. If you'd bought at $275, you're still doin' great.

    with btc though, the pull backs are typically short lived. Time will tell, 'Til then, it's an exciting ride.
     
  39. smilershouse

    smilershouse Gold Member Gold Chaser

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    Wouldnt it be lovely if, there was a sudden rush to convert all the marketcap of coinbase into tangible assets like the precious metals? The only feasible possibility of this happening is a major breach of its uber secure block chain ledger. And even if this virtually impossible task would happen, there is an impossible task to ID whom the BTC's belong to on a personal level. All the computer techs in our secret services cannot even locate the countries varied transactions take place in. It is no wonder then the media focused the infection of wannacry ransomeware targetting hospitals. Those bastards we thought, BTC must be a really evil system to target our vulnerable members of society. and then come the back up anti BTC rhetoric. BTC is used for drugs, arms sales, terrorism they cried.

    BTC it must be acknowledged has 2 massive enemies. Namely the Banking sector and the Govt. I am sure those latter entities are looking for any way plausible to bring the Crypto's down, and one way is to try and develop ways to discredit its function., in the hope that people lose faith in it, or pass some law to render BTC as illegal and criminalize it. The banker is the lender of last resort, and the govt is the spender of last resort. Both are parasitic in nature and I feel, are absolutely trying to maintain the status quo.

    Why?

    BTC is an asset, and so is a big car, yacht, or, a tank full of gasoline or even a bar of chocolate. No money is ever changing hands, so there can be no tax. BTC is about changing one asset class into another asset class. Any asset comes into taxation only once it is converted thus into fiat. It is no wonder the banks and govt are running scared. If BTC becomes global, then banks and govt will be made redundant. The banks would have no customers as storing BTC on a USB is all that is needed. Usuary will die and so will the economy. And if employers offered to pay their workers in BTC, then, no more tax dollars would be available for the govt and poof goes the govts source of income. No income, =no tax = no welfare. No hospitals, no public order, etc etc.


    And what a time that will be. No more watching our elects living the high life on our blood and sweat labour. No more greedy banks, no more tax $$$ no more wasting on social left wing programs like an exhuberant dole check, welfare will end overnight.


    No wonder BTC is hated by many. Hence it is safe to say that crypto's are here to stay.

    SH
     
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  40. solarion

    solarion Gold Member Gold Chaser

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    Goobermints and banksters will and are seeking to co-opt bitcoin. They won't bring it down exactly, they'll steal the open source aspects of it and then create their own crappy version that they control.

    You can already see this taking place with Ethereum. Banksters are enamored with it due to the ability to run "smart contract" apps within the blockchain.
     

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