LOL: You don't have the balls to go either Long or Short..... we have...... so who is the gay here ??
This is 10x worse than the gold bugs in 2011 saying gold will hit $5000. This is so pathetic, and the people that pump this scam are believing their own scam.
I have to admit that I didn't believe those gold-bugs in 2011 as well, but now as we are 3 years older and wiser, and the FED is printing berserk..... I really begin to think that the biggest scam here is the USD...
The price pattern looks like it may be ready to decide which way the triangle will break, but the underlying security could be confiscated and banned at any time for its role in facilitating black market transactions. If it were a penny stock, however, it might be worth keeping on the watch list. :eek:
Confiscation is impossible (by design). Banning would be possible in countries which have Laws that disallow Barter systems (but I don't know any). Further we can prove in the Ledger, that only 5% of the total Bitcoin-economy is used for black market transactions, which is extremely tiny compared to the USD market, so play no role at all (and FinCEN acknowledged that in the hearings). For the ignorant bystander, who doesn't have any idea how useful it is, it all looks like the Internet in 1995 (only for geeks, and porno, and to whom should I ever sent an email??). Luckily the number of open minded people, who take some time to analyze Bitcoin's properties, grows each day exponentially. I just read this, from a Stanford professor, who was skeptical until she studied it some more: http://www.coindesk.com/professor-susan-athey-people-use-bitcoin-intrinsic-value/
Recent loss on BTC has threatened the BTC users. Yet, mtgox is working on it. Nothing can compare gold and silver, however this electric bitcoins has shaken the market. Which was really impressive, and things will definitely rise as long as there's merchants and users alive. A simple suggestion, to those who still lack confidence in trading, if you're afraid of losing your cash for coins, then use Bitcoin ATM(http://www.bitcoinmoneyatm.com) to keep your coins n cash sync. It's an easy solution for users of BTC.
I don't post too often on this site anymore, but, this cryptocurrency issue is worth commenting on. I'm a veteran trader and I believe the long-term value of bitcoin/litecoin/***coin is fundamentally strong. Current/short-term(several years) prices will continue to be very volatile due to lack of general understanding, newness of the market, and lack of oversight and regulation. This bubble will come and pass. Just like every other bubble in history. However, in my opinion *****coin will eventually become a standard for all currencies. The reasons are so simple and effective; they're hard to ignore. - Transparency - Decentralization That's it. Its a currency for the people and eventually it will replace any government backed issue because transparency = trust. Most citizens do not trust their government with money. I think we're on the brink of an honest-to-goodness financial revolution here. The new generations thrive on electronic gadgets, pay-pal like transactions and everything/anything digital. These currencies have a strong appeal to anyone under 30. Paper money is a dinosaur as is central banking and fed policy. Anyway, while many coins will lose/gain importance&value/favor, this type monetary system is too good and too effective. Good ideas always win over time. This one might take some more time to settle down, but, its too good of a concept to die off. Per the IRS regulation, the IRS is legitimizing cryptocurrencies, and, taxing them... that's a huge step. I'm personally going to wait until we see some signs of a bottom in the next year and buy for a 10-15 year time horizon. From an investment standpoint, these coins are very attractive. Safer than securities IMO with a larger upside.
Tell me again who owns the Silk Road customers' and the owner's bitcoins today? Oh yes, the US government.... --------------------------- Since this is a bear bitcoin thread, why is the price around 430 today? Did I miss some negative news or is just the realization about value settling in?
Let me beat your 2 arguments with mine: - easy to copy protocol, thus very easy to enter with competing currency - very easy to ban (once vendors are forbidden to use it it is dead in that country, and I can steal your coins without repercussions) - a bitcoinkiller can come along anytime with much better features - hard to keep it safe, too complicated technology for the masses -technology is still half assed, plenty of room for improvement -etc.etc.etc.