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*** Official Bitcoin Price Discussion Thread ***

Discussion in 'Crypto Currency & Mining' started by morguk, Dec 28, 2016.

  1. purplesky

    Gangster

    Joined: Oct 4, 2009

    Posts: 264

    Cryptocurrencies are dangerous and can be rigged to the hilt. Personally, I think it's going to be a case of pumping before dumping on a very large scale. I can see a lot of people crying into their whiskey soon.
     
  2. silversurfer

    Capodecina

    Joined: Jul 13, 2004

    Posts: 17,177

    Location: Stanley Hotel, Colorado

    The entire situation is dangerous, everything is relative.
    If the government could even handle 5% rates without going broke I'd be more inclined to agree that btc are token only. We live in interesting times, if they can maintain BTC protocol integrity and reasonable operation under high load then price should be fine longer term as there is a continued reason for its use. The biggest threat to btc as crypto is from a competing coin and I believe that open source competition was intended by its creators.
    Supply of BTC is quite limited, the supply of people in the world reliant on dollar for some use much larger and if that FIAT standard is as flawed as it appears then you have a good argument for strength in alternatives which at least partly includes crypto.
    Its partly a political argument unfortunately, economics is not maths anymore :o Wish I'd connected btc as a reasonable inverse dollar trade before 2013.
     
  3. illuz

    Mobster

    Joined: Apr 27, 2012

    Posts: 2,977

    Stamp tagged 1k on the dot.

    Question is, do we deadcat bounce or truly reverse after this price point - 3D EMAs tag. If theres a price point to hold, it's 1k.
     
  4. Acme

    Capodecina

    Joined: Jul 29, 2011

    Posts: 23,132

    Location: Broken down.

    Price really crashing due to this hard fork which is now a serious possibility... Apparently held coins can be used on either side, so as the price is crashing I may make a small investment soon.
     
  5. Karateyid

    Wise Guy

    Joined: Jun 20, 2011

    Posts: 1,852

    Under £800 now
     
  6. Acme

    Capodecina

    Joined: Jul 29, 2011

    Posts: 23,132

    Location: Broken down.

    Aaaargh when do I buy... This is what I hate. :p
     
  7. Jokester

    Don

    Joined: Aug 7, 2003

    Posts: 34,827

    Location: Aberdeenshire

    Same! Now in complete free fall, I reckon it could drop at least another $200 before levelling off again.

    Presumably it is this hard fork talk that's scaring people, but sounds like the main exchanges are going to just end up treating any split off as an alt-coin which will kill it off ultimately?
     
  8. Acme

    Capodecina

    Joined: Jul 29, 2011

    Posts: 23,132

    Location: Broken down.

    How do I set up these auto buy/sell things that people have going on..? I'd like to set some thresholds and let it get on with it...
     
  9. Karateyid

    Wise Guy

    Joined: Jun 20, 2011

    Posts: 1,852

    depends what exchange your on. Kraken from what I ihear does them
     
  10. Acme

    Capodecina

    Joined: Jul 29, 2011

    Posts: 23,132

    Location: Broken down.

    I use localbitcoins.
     
  11. silversurfer

    Capodecina

    Joined: Jul 13, 2004

    Posts: 17,177

    Location: Stanley Hotel, Colorado

    Dam so 1270 was the place to sell once it failed to hold. Failing 1047 like this is bearish, wait for it to settle and prove a case for the bulls. I'm not aware of the news, price alone says it's going to be a while to work through it all :/
    One positive is the Chinese exchanges dont appear to have moved especially, not relative to their largest move year start. Is that accurate I dont know how or when they mostly trade.
    See what they say on this overnight, isnt all the power in hashing from China so they decide which protocol goes forward ?

    is how I read that :eek: price always overreacts, what are they running from. Is there light at the end of the tunnel or is it a train :p


    Look for a really simple but positive reaction to 6419 CNY
    [​IMG]



    https://www.scribd.com/document/342194766/Hardfork-Statement-3-17-11-00am#
     
    Last edited: Mar 18, 2017
  12. bimbleuk

    Hitman

    Joined: Sep 10, 2009

    Posts: 821

    Location: Gloucestershire

    I jumped to ETH as it was also dropping but assumed it would drop and rise faster which it has done this morning and offset any loses on BTC before I switched. I plan to buy back into BTC partially basically on the chance that BTC will fork and end up listed as BTU/BTC on exchanges such as Kraken. This process may be more long winded than the ETH/ETC split though but the benefit was an instant doubling of tokens held. So the price may still be all over for a while yet. Definitely need to be spread now as ETH is benefiting from the BTC issues and it's been 3x more profitable to mine recently when I thought I'd be selling off the GPUs I have running due to the constantly increasing difficulty.
     
  13. Acme

    Capodecina

    Joined: Jul 29, 2011

    Posts: 23,132

    Location: Broken down.

    Bought another 0.366BTC last night... Buy price was still £820 per BTC even though value was £770, which wasn't great.
     
  14. norm

    Mobster

    Joined: Jan 21, 2003

    Posts: 4,576

    Why trade in BTC? Unless you're buying in ridiculous sums your gains will be minimal given the price it's at.

    Might as well buy up a load of emerging digital currencies in the hope they'll sky rocket instead.
     
  15. Acme

    Capodecina

    Joined: Jul 29, 2011

    Posts: 23,132

    Location: Broken down.

    I made nearly £400 from buying only 1.5BTC a few weeks back.
     
  16. Lokken86

    Mobster

    Joined: Mar 8, 2010

    Posts: 2,737

    Location: Aberdeen

    Not exactly. This Roger Ver guy owns Bitcoin.com and he is endorsing this bitcoin unlimited. That means mega confusion for anyone trying to get into bitcoin but are not informed enough to know the difference. First thing many people will try to do is type www.bitcoin.com and it will be bitcoin unlimited coin that they are presented with. Devastating for bitcoins brand image tbh.

    On the flip side, anyone holding bitcoin during any fork will be credited with an equal amount of ultimate for free basically. In which case I'd hang on to both to see which prevailed or dump both and just forget the whole thing.
     
  17. silversurfer

    Capodecina

    Joined: Jul 13, 2004

    Posts: 17,177

    Location: Stanley Hotel, Colorado

    I'd probably assess which I think is the most viable long term. I'll start to sell small amounts of the other standard. I've always sold bitcoin along the way anyhow, holding it forever is not what its for and it wont gain value unless its useful globally.

    Not sure about ETH, if I start mining it I'll hold some naturally of that I guess. I hold some Proof of Stake coins still, just because they are so fast and the energy taken for the network is really a small load also fees are lower. They might pick up popularity with this split who knows.

    My look at the price now, some recovery but not impressive. CNY price didnt break that lower range, its above and I think its kinda neutral in a holding pattern ? I wont call it negative, its relative to news in btc protocol and Chinese moves vs Hong Kong democracy perhaps, etc. Dollar strength has come off some as less rate rises are seen likely.
    $1060 and above is more positive action
     
    Last edited: Mar 20, 2017
  18. illuz

    Mobster

    Joined: Apr 27, 2012

    Posts: 2,977

    Time for another stab down / attempt at a stab down. I have to say the past 2 years have been a good run, however this may be it for a long time too. WHO KNOWS! :(
     
  19. Lokken86

    Mobster

    Joined: Mar 8, 2010

    Posts: 2,737

    Location: Aberdeen

    Nah just FUD regarding btc ultimate. It got in the way after btc broke its all time high so I suspect when this blows over btc should continue its strong uptrend. Looking at btc transactions a day its still going up firmly. Almost enough to suggest mass adoption rather than bubble but I'm no expert on these things.
     
  20. Trig

    Wise Guy

    Joined: Oct 18, 2002

    Posts: 2,424

    Location: Leicestershire

    And here was me selling at $500odd...
     


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