BIT COIN (S)

[Kev The Rat]

the plot thickens, I'm watching this develop with great interest, like a financial internet hardman being outed

well someone shouting 'no' repeatedly on a football forum isn't going to influence things much, I wouldn't have thought?

anyway my immediate prediction for this says we will hit 11k by the weekend possibly as soon as tomorrow.

 

[orly]

well I have 40 coins now which I bought at intervals between 500gbp-1300gbp between October last year and May this year. over 20 bought below 1000.

Maths I'm not great at.

So let's say, for the sake of argument, you bought 40 at an average of 900gbp

Initial first investment of £36,000 . Firstly, you have serious nuts to have done that in such an unregulated market.

You're currently sitting on £382,980.07 - which naturally is superb.

You're looking for an exit point of around £800,000?

 

[orly]

the plot thickens, I'm watching this develop with great interest, like a financial internet hardman being outed

I'll be honest, I've got no real reason to doubt him, and if he was brave enough to venture £36k in 2016 on this stuff, more power to his elbow.

 

[larrygobfiend]

Bitcoin will have no problem hitting the $20,000 mark by this time next year at the very most. Plenty of people out there willing to take them off your hands for "real" money too.

 

[Kev The Rat]

Maths I'm not great at.

So let's say, for the sake of argument, you bought 40 at an average of 900gbp

Initial first investment of £36,000 . Firstly, you have serious nuts to have done that in such an unregulated market.

You're currently sitting on £382,980.07 - which naturally is superb.

You're looking for an exit point of around £800,000?

800k would enable me to pay off mortgage (300k - I live in London so that's far from unusual) and maybe then I'd take out another 200k and leave 300k in.

 

[Kev The Rat]

Bitcoin will have no problem hitting the $20,000 mark by this time next year at the very most. Plenty of people out there willing to take them off your hands for "real" money too.

I'm thinking 20k USD by January.

 

[larrygobfiend]

I'm thinking 20k USD by January.

Bit of a push that, mate, but you never know.

 

[Efcjake]

It's amazing to watch this speculation game in progress. When it blows up people are going to lose plenty.

There's nothing tangible tied to the value of the asset. It was meant to be a currency but is completely useless as one as transaction processing fees make transactions for small values incredibly inefficient and costly.

I never thought it would get to this point but I guess you can never underestimate the philosophy of "it won't be me who loses".

 

[Bruce Wayne]

I'm thinking 20k USD by January.

Based upon nothing more than a fresh bunch of people hoping that the value will keep on rising and rising? I'd cash out before this madness reaches it's natural conclusion and consider yourself fortunate that there were plenty of saps willing to come into this ponzi scheme after you.

 

[Bruce Wayne]

As it is, shame on anyone advocating investing in this. You're no better than Bernie Madoff.

 

[Kev The Rat]

Bit of a push that, mate, but you never know.

whats interesting that the rate of growth is seemingly being sustained by that I mean in percentage terms - so 10% increases now have much bigger nominal impact - remember we went up 10x so far this year - we only need to go up x1.5 by January to get to 20k.

 

[Kev The Rat]

It's amazing to watch this speculation game in progress. When it blows up people are going to lose plenty.

There's nothing tangible tied to the value of the asset. It was meant to be a currency but is completely useless as one as transaction processing fees make transactions for small values incredibly inefficient and costly.

I never thought it would get to this point but I guess you can never underestimate the philosophy of "it won't be me who loses".

actually high transaction fees show a healthy market.

 

[Efcjake]

Bit of a push that, mate, but you never know.

Why is it a push?

There's no actual logical reason for it to be valued at 12K besides the speculation value. What's to stop the speculation market growing to that value? I never thought it would ever make it this far but it has and I'm not sure where it stops and runs out of steam.

Theoretically there would eventually be some equilibrium reached as the value of a single bitcoin reaches astronomic values which limits the pool of investors next in line who could afford the price of a coin and the risk of parting with that value to speculate. Since bitcoins can be divided into smaller parts and they can be traded also then there is the potential that the market keeps growing with lower value investment speculators buying portions of coins and inflating the total value of the market in that way rather than attracting larger investment vehicles.

 

[orly]

Bitcoin will have no problem hitting the $20,000 mark by this time next year at the very most. Plenty of people out there willing to take them off your hands for "real" money too.

I'm thinking 20k USD by January.

That's what, 67% growth?

Everyone should be pounding their savings on then.

 

[Efcjake]

actually high transaction fees show a healthy market.

Can you explain this?

I fail to see how transaction fees around 10 pound or larger (I've read this, don't know how accurate it is) for a single transaction like ordering a pizza delivery is going to help increase its adoption as a currency.