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

    31.1%
  2. Passing Fad

    68.9%
  1. Yung-T

    Yung-T Member

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    Alts going crazy as expected, good day.
    Hope this becomes a trend and more unnecessary hard forks get buried.
     
  2. Yung-T

    Yung-T Member

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  3. LongTimeFan

    LongTimeFan Contributing Member

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    I'm going to proceed as if it's not happening.

    The most interesting thing to me in this debacle is the bitcoin price. I sold my stash @ $7,700 expecting a big dump. I don't think it ever dropped below $7k, instead it was accumulating/stabilizing* between $7100-7300. I always assumed the price was inflated a few g's due to the HF, but now I'm questioning everything lol.

    I've got a limit order to buy back in on the lower end of that range. Will hodl (with stop loss, of course) until next big pump past ATH and attempt to cash out again. If the above is successful, I would have picked up .4 btc from sell off and re-entry. I'd stick that into alts if they weren't all going crazy right now :)

    A good market for cryptocurrency in the last 24 hours. My advice to everyone: Don't be LTF. Learn from LTF. Set stop-loss and lock in profits / minimal losses.
     
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  4. Yung-T

    Yung-T Member

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    Very true, nothing is certain right now regarding btc's price. People are now 50/50 on it taking a dump towards 5k or pumping like nothing happened, think I'll buy some more this weekend (if nothing crazy happens to the price).

    I also expected a much bigger dump after the fork was cancelled, so part of me thinks that fork whales influenced the recent btc surge less than expected. With all the recent great news for investors, 6.5-7k could be a genuine price backed by high-scale investors.
     
  5. jbasket

    jbasket Contributing Member

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    I am so glad I tethered out and didn't fomo in after initial gains. Patience finally paid off! First trading victory and I'm making up ground now :) I even messed up a bit with the alts during the recent pump and got too fancy, but overall, improved my position nevertheless.
     
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  6. rezdawg

    rezdawg Contributing Member

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    Waiting for BTC to hit 5k before I pounce on it.

    LTC has the most potential at this point though...it should be valued at around $1,000...so at $60, it's a steal.
     
  7. Dr of Dunk

    Dr of Dunk Clutch Crew

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    lol... BCH... it's doubled in about 2 or 3 days.
     
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  8. Stack24

    Stack24 Contributing Member

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    You think so? In terms of LTC. I have been getting ready to jump into XMR as an alternative.
     
  9. rezdawg

    rezdawg Contributing Member

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    Yeah, Im mostly on the LTC bandwagon, specially since its at such an affordable rate to load up.

    Few reasons why LTC is so undervalued compared to BTC:

    1) LTC has 4x the supply of BTC...which, in theory, should mean that LTC should be 1/4 the value of BTC...assuming the technology behind them is identical. However...
    2) LTC transaction times are 4x faster than BTC.
    3) LTC transactions are less expensive.
    4) LTC was the first to be a part of the lightning network.
    5) LTC is adding confidential transactions.

    In other words, I think there is a strong probability that LTC eventually hits about 1/4 the value of BTC...once crypto becomes more mainstream and the public learns more about something other than "Bitcoin".

    When BTC sits around 7k, LTC should be around $1,700....I fully expect BTC to continue a crazy rise in price...10k...12k...15k...we're not that far off from that happening. I thnk within 3-5 years, LTC will hit 1/4 the value of BTC....which means I would think LTC will hit 3-5k in the relatively near future.

    XMR is a good alternative, going to get on that and maybe Dash. Most of my disposable income is going to a combo of BTC, ETH, and LTC....TKN (token card) and Golem (GNT) are some random ones that Ive thrown a few hundred towards purely because they are priced low to the point where if they ever randomly hit $100+...then I can by a room filled with Houston sports memorabilia. :cool:
     
  10. Yung-T

    Yung-T Member

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    There's a BCH fork tomorrow which should lead to a dump.

    Also, this whole thing seems to be an orchestrated attack on BTC if you follow the markets (vast majority of moves were made on Korean exchanges, plus there are now transactions made solely to stall the btc network).

    Take a look at this, written in July:


    Scary how it all played out like this.
     
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  11. Dr of Dunk

    Dr of Dunk Clutch Crew

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    Yeah, I was watching BCH on a few exchanges and the price difference across exchanges was nuts. I think I saw it at $2400 on one exchange when it was $1800-$1900 on Kraken, for example. So crazy. But you can see why people are afraid to use these things as permanent currency anytime soon.
     
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  12. dmoneybangbang

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    Yea this is just pure speculation at this point.

    I’m more of a longer term type of guy so I just enjoy watching from the side line.
     
  13. Stack24

    Stack24 Contributing Member

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    Appreciate your detailed input on this!
     
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  14. RedRedemption

    RedRedemption Contributing Member

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    Anyone find a comparison website or wiki of the in-depth tech behind each altcoin? I would rather not go to each page and try to decipher a bunch of nonsensical marketing buzzwords lol.
     
  15. Space Ghost

    Space Ghost Contributing Member

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    I follow Ivan on Tech's Youtube videos. He is very pragmatic about the crypto world. He has taught me to look past the hype and how to evaluate an altcoin/token. He hits hard on about reading the white papers. A white paper should tell you how they plan on solving the problem, not just telling you what they are trying to accomplish. Look at the team behind the product. Also check their git-hub for frequency of updates (is anyone actually working on the project?), see who is actually updating and view the code to ensure actual changes are being made.

    The vast majority of altcoins out there are either complete scams or they do not have a serious core development team.
     
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  16. LongTimeFan

    LongTimeFan Contributing Member

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    How's everyone feeling now?

    Bitcoin Cash's HF over, BTC price has gone back up to more "normal" levels... now for the next big push?
     
  17. Yung-T

    Yung-T Member

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    Many still see a drop towards 5k this week, but it should steadily go up afterwards. Anyway, the bch attack didn't work out as these scammers hoped for, so btc should stabilize no matter what happens this week.
     
  18. Space Ghost

    Space Ghost Contributing Member

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    If it drops to the 5k range, the question is where will the market cap disperse to?
     
  19. Yung-T

    Yung-T Member

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    Market cap doesn't matter that much in crypto imo and is extremely volatile.

    But with btc dumping, you will nearly always see promising altcoins bumping temporarily. Some of the bigger ones like ETH , LTC, XMR, NEO etc were pretty stale this month, so I'd think they'll gain grounds soon.
     
  20. LongTimeFan

    LongTimeFan Contributing Member

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    Interesting. Any reason for the drop prediction? I think we've staved off the BCH attack, though they are still hanging around with more of a % than I'd like.

    EDIT: Anything is possible, and big news can shift the price heavily any direction, but I would be shocked if the price fell below $5,500 without a major event. When it was going nuts several weeks ago, a lot of people predicted a correction to less than $6k, which happened.. hopefully there's not another.

    I got into $XZC a week ago.. and then bought a lot more last night as it started pumping. Probably up 20%+ from just last night's purchase -- price pumping as people want to get 1,000 coins to qualify to be a masternode. I need to read up more about masternodes and whether they're worth it..
     
    #1500 LongTimeFan, Nov 14, 2017
    Last edited: Nov 14, 2017
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