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Bitcoin Chart Fractal. $5000?

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



  1. smilershouse

    smilershouse Gold Member Gold Chaser

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    I have not gone into it with as much zeal as yourself solarion. Instead, I look at the objective data. In 2009 hre in Au $250 would get u a shopping trolley full of food from the supermarket, and $250 worth of BTC would have been worthless as a medium of exchange for those same goods. Now, 8 years later with inflated goods/decreased value of fiat, the contents of that shopping trolley has decreased somewhat, however, that $250 worth of BTC bought in 2009, would now be worth a whopping $1.2million plus.

    Just observing the facts.

    SH
     
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  2. solarion

    solarion Gold Member Gold Chaser

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    It's still relatively new and will take time before more people trust the blockchain.

    I have a friend(late 30's) who went through a divorce a few years back...cashed out his 401k, sold the house, the whole awful bit. Anyway he's sitting on the fraction of his assets he was graciously allowed to keep(50k) and trying to figure out what to do next rather than just leaving them on a bank statement. I told him to put 10% into btc, which was still well under $100 at the time. Of course he didn't because it was much too scary, but had he done so he'd have way more than made up for the divorce court raping. So now after watching this last run up, he's finally ready to get some skin in the game at much higher exchange rates. Better late than never I guess. The tech isn't going anywhere and will only improve over time. Plus the next leg up should be a sight to behold. lol
     
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  3. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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  4. smilershouse

    smilershouse Gold Member Gold Chaser

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    Proverb of the day..............always listen to the gut. I wish i would have done. Hindsight and foresight.............Both a blessing and a curse.

    SH
     
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  5. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

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    You can buy BTC at convenience stores in Miami. 20170901_122037.jpg 20170901_122027.jpg
     
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  6. goldielox1

    goldielox1 Silver Miner Seeker

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  7. Nomis Elpmis

    Nomis Elpmis Minimalist Silver Miner

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    I didn't post about it yet because I thought we only hit $4980. I was ready to post, but it pulled back and went into a correction. I was going to sell some at $5k. Has retraced around $400 per coin. Missed a op to sell and rebuy. Not gonna put fresh money in.
     
  8. Nomis Elpmis

    Nomis Elpmis Minimalist Silver Miner

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    Progress chart
    bcpr.jpg
     
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  9. Flight2gold

    Flight2gold Silver Member Silver Miner Site Supporter ++

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    Bitcoin, Sour Grapes and the Institutional Herd
    by Charles Hugh-Smith

    The point is institutional ownership of bitcoin is in the very early stages.

    If I had a bitcoin for every time some pundit declared bitcoin is a bubble, I’d be a billionaire. There are three problems with opining that bitcoin and cryptocurrencies are bubblicious:

    1. Everything is in a bubble now: stocks, bonds, housing, heck, even bat guano is bubblicious. Exactly what insight is being added by yet another guru repeating the BTC is a bubble meme?

    2. What’s the value proposition in declaring BTC is in a bubble? Spotting bubbles is like shooting fish in a barrel; the value proposition is in identifying the price/time tipping point at which bubbles pop.

    3. Declaring bitcoin is a bubble is starting to sound like sour grapes. Sour grapes defined: those who missed the 10-bagger (never mind the 100-bagger) feel better by dismissing the whole thing as a fad and a bubble, but as BTC continues marching higher, it looks like they missed the boat but are too proud to admit they didn’t grasp the significance of cryptocurrencies and BTC in particular.

    For those who don’t know what the fuss is about, here’s a one-year chart of bitcoin (BTC). Note the increase from $500 to $5,000 ($4.500 as I write this). Some initial coin offerings have made gains that make this mere 10-bagger look like small change.

    Read more:
    http://investmentwatchblog.com/bitcoin-sour-grapes-and-the-institutional-herd/
     
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  10. goldielox1

    goldielox1 Silver Miner Seeker

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    Perfect example of what a bubble looks like. At least most bubbles have an underlying real asset behind them. I'd feel much better owning a real asset in a bubble than a paper bag in a bubble. At least with a real asset, there is a price floor.

    I don't think anyone that isn't into this crypto thing is sour graping. I sleep just fine at night not having got in or being in it. Sure there are also penny stocks that go up 500X. But I'm not about to put real money at risk on some lottery ticket. Sure if I knew a year ago 100% what crypto would do in that year, I'd have gotten in on it. But I can say the same thing about penny stocks, and sports gambling, etc.

    Good luck.
     
  11. Bottom Feeder

    Bottom Feeder Hypophthalmichthys molitrix Gold Chaser Site Supporter

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    Pirate Bay uses visitors’ CPUs for mining digital currency

    Pirate Bay.jpg
    Visitors to The Pirate Bay recently discovered JavaScript code being used that revealed a cryptocurrency miner was in place on the torrent website. This code makes use of visitor’s processors to mine Monero digital coins. It’s not a constant occurrence on the website, but users began digging after they noticed significant spikes in CPU usage while on certain pages.

    https://www.slashgear.com/pirate-bay-uses-visitors-cpus-for-mining-digital-currency-17500365/

    Wonder how this is going to work out for everyone.
     
  12. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

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    BTC is created quite literally from nothing. I'm happy I didn't get sucked in like a heroin addict!
     

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