What do people think about Bitcoin?

Discussion in 'BBS Hangout' started by Spooner, Jan 25, 2014.

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What is the fate of Bitcoin?

  1. Currency of the future

    32.6%
  2. Passing Fad

    67.4%
  1. oelman44

    oelman44 Member

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    I know it's all speculation, but does buying more now and selling a big chunk Saturday seem like a decent idea? Price has dropped to a flat 16k.
     
  2. astros123

    astros123 Member

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    I will bet anyone here amy money that bitcoin will take a hit on Monday.

    I want to put another 5k in bitcoin only to sell Saturday night
     
  3. Yung-T

    Yung-T Member

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    Where do you come up with these numbers? Yes, you are wrong.
     
  4. Ottomaton

    Ottomaton Contributing Member

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    I certainly wouldn't bet against you. But neither would I place any money with you. Bitcoin has defied my attempts at rational logic thusfar.

    As they say with Vegas, I wouldn't bet anything you can't afford to lose. I wouldn't leverage your home shorting bitcoin for a Monday morning collapse.
     
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  5. moestavern19

    moestavern19 Contributing Member

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    Betting on Wall Street shorting starting Monday eh?
     
  6. REEKO_HTOWN

    REEKO_HTOWN Contributing Member

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    I think it's a great target for thieves.

    Kinda like convincing people to hide their money in mattresses.
     
  7. astros123

    astros123 Member

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    It's basic economics. Any commodity that's gone up 73% in a week is due for a short coming. Maybe that hasn't been the case in the past because of lack of institutional money but the bottom line is there is no support level of bitcoin yet. Come Sunday it will all change
     
  8. moestavern19

    moestavern19 Contributing Member

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    People have been saying that since it was $100.

    Everything we know about bubbles relates to valuation against the standard currency.

    Not saying you're wrong or that BTC isn't a bubble, but the rules just don't seem to apply.

    Maybe that changes once the big boys get in.
     
  9. Yung-T

    Yung-T Member

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    Not sure, but think you guys are pretty new to btc.
    Astros123 is right about sharp corrections, but they've actually always happened with btc and wouldn't be anything new.
    This is what has been baffling people since we've gone above 7.5k, in the past there's always been sharp 30-40% corrections after major surges, but now it hasn't happened for a way too long time and the price is chasing ATH after ATH without any real resistance.
     
  10. moestavern19

    moestavern19 Contributing Member

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    I see. I misunderstood the point. I was thinking about long-term play and the whole idea of a bubble.
     
  11. Stack24

    Stack24 Contributing Member

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    Exactly this....Are you looking to hold your BTC or gonna dump into some Alts or take profits when the correction starts happening and buy back in?
     
  12. Yung-T

    Yung-T Member

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    I'm a holder and don't actively day-trade, as it is pretty risky with btc, as we've just seen. Very difficult to predict dips or tops, seen many people lose money by simply not holding.
    Even when it dumps, this time we are not really sure how alts will behave. In the past, alts have always went up like crazy when btc corrected, but in recent months it hasn't been this way. The real alt pump these past two weeks happened parallel to btc rising and not when btc dipped, so past indicators are pretty off.

    For anyone looking to make profits when btc dips next week (if it does, no one knows and people are just guessing), I'd do it only by trading btc for Dollars/Euro, alts are way too uncertain and may get hit as well.
     
  13. jbasket

    jbasket Contributing Member

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    Yeah good call. Who knows what's gonna happen on he 10th, so if you gonna cash out, give a nice, generous time buffer between then. It'll be worth the safety.

    Edit: I'm making assumption that you're just gonna exit for good. If trying to time market, disregard this advice.
     
    #2053 jbasket, Dec 7, 2017
    Last edited: Dec 7, 2017
  14. moestavern19

    moestavern19 Contributing Member

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    If you transfer into GDAX you can put in a stop order right?
     
  15. astros123

    astros123 Member

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    It hasn't changed because the real men havnt came in.
    Exactly true. I have a MS IN finance and have a good understanding of stock market. The market has always corrected itself but now it hasn't since the announcement of future market

    If anyone is going to sell before Sunday please for your own sake trade it for USD. How can anyone predict how the alt market will be?
     
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  16. oelman44

    oelman44 Member

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    I'm planning on taking out about half, or at least my initial investment. I still believe in the long-term profitability of BitCoin, but don't see anyway the price goes up even more once future trading starts.
     
  17. Space Ghost

    Space Ghost Contributing Member

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    FUD is setting in. It might drop to 12-14k. It could go as low as sub 10k. If it gets to 8k, that is the time to buy.
     
  18. SirIvyLeague

    SirIvyLeague Member

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    This. Put what you can afford to lose.


    SIL
     
  19. sammy

    sammy Contributing Member

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    Waiting on the price drop to buy some more.
     
  20. Yung-T

    Yung-T Member

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    It's near ATH at bitstamp and other exchanges, think many of you are worrying too much about short-term inflated coinbase prices. It never went above 16k on many exchanges and was pretty steady except for a quick dip, which only went on for a few minutes.

    But again, saying something like 8k is the time to buy is a misguided opinion imo and not too rational, it would have to be one of the most dramatic corrections in Bitcoin history to reach that level.

    People will lose out on a lot of money if they're waiting for a 8k bottom imo, I don't think it will be even remotely this low.
     
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