BITCON... WHY its totally FLAWED
- Thread starter 1for1
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It will only go up a set amount every couple of days. Depending on the amount of blocks being found and how quick etc.rbaggio said:
At moment, it's only 234. When I started it was closer to 100 lol.
I am seeing a lot of parallels with physical mining.
If it becomes unprofitable to do so (your power costs exceed the potential selling costs of what you are 'mining', 'difficulty' keeps increasing as all of the easy stuff has already been dug up), then people will move into mining something else.
EDIT: Intrinsic value is another topic
If it becomes unprofitable to do so (your power costs exceed the potential selling costs of what you are 'mining', 'difficulty' keeps increasing as all of the easy stuff has already been dug up), then people will move into mining something else.
EDIT: Intrinsic value is another topic
southerncross said:
You could as easily ask the same question about physical silver. Btc is a fledgling currency. You can buy more things all the time but it's not there yet as a viable currency.
southerncross said:
Those are all just broad collectivisations and don't mean much in reality. Despite many stackers claim to some high moral ground, imo most are speculators. And there is nothing wrong with that.
Ultimately, when it comes to an alternative to the current banking system, this is the only game in town atm. I don't know why there are so many people opposed to it. We aren't going back to gold and silver as currency. That was the past, not the future.
So this is News.com.au today:
Is this the "media" part of this chart? Or are we past that?
Is this the "media" part of this chart? Or are we past that?
pro$pector
New Member
RetardedMonkey said:
I've stated many times over the past few days that we have just entered the media attention part of that chart, the parabolic rise is yet to come!
For those riding this train it is an interesting mental exercise isn't it ?
You may feel deep down that it is not sustainable but you see how much the value of your coins has multiplied in just a month.
And prices are moving faster every day.
If only you had done X or Y just a few months ago you'd now be rich!
But you probably realise you have to cash out at some point to keep your winnings.
The tussle between the fear of losing your gains and the fear of missing out on any more upside is getting more intense.
You find more and more reasons to justify the current prices to yourself - even though just over a month ago the price was only a fraction of today's price.
What has really changed in the past month ?
We could be in the media phase, the greed phase or the delusion phase - nobody really knows
Good luck all with your timing - it will not be easy to pick the top.
You may feel deep down that it is not sustainable but you see how much the value of your coins has multiplied in just a month.
And prices are moving faster every day.
If only you had done X or Y just a few months ago you'd now be rich!
But you probably realise you have to cash out at some point to keep your winnings.
The tussle between the fear of losing your gains and the fear of missing out on any more upside is getting more intense.
You find more and more reasons to justify the current prices to yourself - even though just over a month ago the price was only a fraction of today's price.
What has really changed in the past month ?
We could be in the media phase, the greed phase or the delusion phase - nobody really knows
Good luck all with your timing - it will not be easy to pick the top.
If I was holding just Bitcoin's, I'd be looking at cashing out soon IMO.
The fact it's now at the top of News.com.au irks me, that's a GTFO signal if I ever saw one.
The fact it's now at the top of News.com.au irks me, that's a GTFO signal if I ever saw one.
pro$pector
New Member
Selling is starting to build around $230, first time this has been seen since around $140 or so.
Could be time for a pullback.
Could be time for a pullback.
pro$pector
New Member
RetardedMonkey said:
...I see it as "we are able to enter the parabolic rise" signal, but the selling time is definately getting very near.
Oh, I see it as that too.pro$pector said:
But I don't like parabolic rises, I'd rather get out just before they happen.
Else, you might get caught with your pants down.
pro$pector
New Member
RetardedMonkey said:
Constant market depth and volume monitoring gives you a big edge in getting out in time.
Please note I'm not saying its possible to pick the top by any means.
The thing is, even a correction down to 100, which would be more than 50% now (more than silver's fall) would not be too painful to someone who bought in lower than 20. Even at 50 they would still be ahead.
The question for people like that is, would this be a permanent fall or is it more likely to be a correction in a longer uptrend? If you think the latter it would be very hard to pick the spot where to get out so that you know you can get back in cheaper. No guarantees.
I'm holding, I basically took almost 100% profits when I cashed out a fraction of my position the other day. There's no way for me to lose on this one now, it's only a question of how much will I win. I think the fundamentals are good, but I agree it's more than likely a speculative bubble atm likely to collapse. I may do another small cashout depending on how high it goes. But selling them makes me nervous.
The question for people like that is, would this be a permanent fall or is it more likely to be a correction in a longer uptrend? If you think the latter it would be very hard to pick the spot where to get out so that you know you can get back in cheaper. No guarantees.
I'm holding, I basically took almost 100% profits when I cashed out a fraction of my position the other day. There's no way for me to lose on this one now, it's only a question of how much will I win. I think the fundamentals are good, but I agree it's more than likely a speculative bubble atm likely to collapse. I may do another small cashout depending on how high it goes. But selling them makes me nervous.