I feel as though we're a little ahead of where we should be using the exponential growth model. We should be around $90 right now. However I also feel that the news from china will keep us above that for a little bit longer. But since bitcoins inception we have always made it back to the same exponential model over time so feel it is inevitable.
So do you guys think the bad news about government intervention is going to overpower the good news from china combined with the increase in funds now that banks are open. Theoretically it looks like a time to buy but TA and the order book make me feel otherwise
If anyone wants to team up and do TA together let me know I have a solid background in finance and statistics. I Also have a nice arbitrage opportunity that can be exploited until June 1st at the earliest
All I see are vaginas... do I go in or pull out?
Laughin at all of these bears... Bitcoin is not made to go down and the only time it does is due to a downward correction caused by external factors (media hype, government attempts at intervention, etc.) after we have already skyrocketed upward. We are supposed to be right about where we are right now 118 according to the logarithmic charts that have been extremely accurate since bitcoins inception. In about six months were supposed to be around 500 so I don't see how people are still saying $70 or $80 coins are coming.
At the end of the day the banks (or the rosthchilds whichever u prefer to call it) are not going help a currency thrive that will end them. Bitcoin will end the banking system and put the power of currency back in the hands of the people. Instead of our dollars losing value in our wallets we will all have bitcoins that double in value on a yearly basis. So why would banks try to help. If we want bitcoin to succed were going to have to do it without banks. I think i have a way how to do this as well if there are any developers out here trying to start something revolutionary and vital to the bitcoin economy message me
put the power of currency back in the hands of the people.
I hear this a lot, and it doesn't make any sense to me. I have visions of BTC rich people flying in blimps, showering the masses with Casascius coins. Good thought for a chuckle, not very realistic.
The simple fact is, there are a select few who own a lot of bitcoins. Those people are not likely to suddenly start distributing them to "the people" just when they're at their highest. All that I foresee happening is we will have a new set of "select few."
Sorry for the rant kudos to those of you who read on
With US dollars there is a constant stream of depreciation as it becomes worth less and less. So as its in our wallets it becomes worth less and less and less. The power of our currency is in the hands of the federal reserve which is owned by the rosthchilds a private family. They print off more money our money becomes worth less and less until we no longer can afford our or car. Then the rosthchilds come and foreclose on your house and repossess your car since they hold on a monopoly on the banking system that loaned you the money for your house. So for twenty years you pay most of your pay checks to them directly to keep your house but they are simultaneously devaluing the money your using to pay for until you can no longer pay for it so in the end they got 20 years worth of pay checks and they get to keep the house. Bitcoins tend to gain value over time as a currency should and the reverse starts to happen. If I started out getting paid 3 bitcoins an hr three years ago (so about 15 hr ) then today I would make somewhere around $291 an hr. every year 1 bitcoin starts to fill a grocery cart more and more and even though a few people are heavily invested they don't have the ability to manipulate the value of the bitcoin as easily as the rosthchilds can manipulate the dollar. The few big whales can pump and dump and affect short term trends somewhat but in the long run bitcoin continues to grow. The total money in bitcoins isn't even a fraction of a percent of the total market size of US dollars is yet it is much easier for the rosthchilds to manipulate a multi trillion dollar market than it is for the winklevoss twins to manipulate a billion dollar market. The select few u speak of aren't affecting bitcoins nearly as much as the other select few are affecting the US dollar. Also most of the bitcoins in existence haven't even been mined and us common folk haven't been having trouble finding them. The beauty of bitcoin is that no one is required to use it... So if a select few come in and buy all bitcoins then they will have billions of dollars worth of a currency that no one uses and we will all start using lite coin =)
Im scared to buy in because we are a little bit over on the log chart expected value regression line. We are also entering the weekend but that hasn't mattered very much lately. Ive missed the most recent train a few times but i still want to hop aboard. Any thoughts from you guys?
Thanks a lot everyone I pulled the plug. Ive been busy with my senior year of college and i forgot to check up on the price for a little bit and then this happens.