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Oh no, another "Here's a huge market. Now imagine if only 1% of them buy your product" article to add to the junk pile.
Bitcoin Surges Past $400
51–60 of 260 posts
Re: Bitcoin Surges Past $400
#52Could somebody comment on how "future proof" the bitcoin technology really is? How large can the trading volumes become, and is there a limit? What advances have been made in crypto-currencies that will replace bitcoin?
Re: Bitcoin Surges Past $400
#53Tulip bulbs! Got your tulip bulbs right here!
I made an absolute killing on them last time, why not again?
Trading just for profits is no different from other kinds of gambling. Even though I like Bitcoin myself, I'm not the most risk-taking kind of person. The market price depends on the collective sentiment of every single trader, and no matter what I believe, I can't force them all to agree with me.
Re: Bitcoin Surges Past $400
#54Earlier quoted context omitted.
There are thousands of videos popping up on YouTube with how much money these people have 'made' on MMM Global, it's sad to see; https://www.youtube.com/results?lclk=week&search_query=mmm+g... It's very likely a big part of the price increase, many of the local MMM sites advertise that they're bitcoin-only and all of the exchanges are extraordinarily shallow so small surges in demand really move prices. Here's a pret…
Side note: I don't know if anyone with the skill has the extra time on their hands, but it'd be interesting to track BTC through the MMM accounts to try and locate their largest addresses. It has to be in the millions by now if not much more..
It is easy to hide those amounts by just using a lot of different addresses. Of course people can try to tie those addresses together again, but that's pretty hard.
Re: Bitcoin Surges Past $400
#55Earlier quoted context omitted.
> However big is MMM, it's probably too small for the size of the bitcoin economy right now [...] That's very hard to quantify, but there might well be a feedback loop involving the media which leads to a price increase caused by MMM Global. The following Google Trends data for South Africa and the Philippines shows a nice correlation between searches for bitcoin and MMM Global: http://www.google.com/trends/explore?h…
That's why I used "probably". The thing is, transacting with bitcoin will not raise the price exponentially. BTC is already being exchanged in many millions of dollars a day. So unless MMM turns out to be a billion-dollar ponzi scheme I don't really think it'll affect the BTC price much.
> So unless MMM turns out to be a billion-dollar ponzi scheme I don't really think it'll affect the BTC price much.
The actual transaction volume of bitcoin is not even that large. The total market cap is 6.5 billion and only because of the recent price surge.
Re: Bitcoin Surges Past $400
#56how would one trade bitcoin fast enough to profit?
can one short bitcoin in a single day?
last time I tried it was insanely slow to buy bitcoin, and then sell it...
Re: Bitcoin Surges Past $400
#57Re: Bitcoin Surges Past $400
#58Could somebody comment on how "future proof" the bitcoin technology really is? How large can the trading volumes become, and is there a limit? What advances have been made in crypto-currencies that will replace bitcoin?
Bitcoin is in constant development, so it's a hard question to answer.
If Bitcoin core development suddenly stopped right now it wouldn't be very future proof. Trading volumes are irrelevant from a scaling perspective, what matters is number of transactions per second (tps). Right now Bitcoin has a really low capacity, just 7tps, way below VISA for example.
However, progress is underway on creating the Lightning Network [2], which will enable billions of transactions per day. Just 11 days ago a major requirement of the Lightning network was merged into Bitcoin core, and things are moving fairly quickly in the right direction.
[1] https://en.bitcoin.it/wiki/Scalability
[2] https://lightning.network/
I doubt anything will replace Bitcoin, further crypto-currency advances will likely be built on top of it (like the Lightning Network and sidechains). Ethereum is looking incredibly promising (has been dubbed Bitcoin 2.0), but I think it will be used primarily as a blockchain programming framework instead of as an alternative currency.
Re: Bitcoin Surges Past $400
#59The China factor behind this "surge" is because this https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company) started doing business in China. It's growing very huge.
There are thousands of videos popping up on YouTube with how much money these people have 'made' on MMM Global, it's sad to see; https://www.youtube.com/results?lclk=week&search_query=mmm+g... It's very likely a big part of the price increase, many of the local MMM sites advertise that they're bitcoin-only and all of the exchanges are extraordinarily shallow so small surges in demand really move prices. Here's a pret…
Thank you for those links.
It's crazy that people are falling for this even though they reuse the MMM brand and feature Sergei Mavrodi prominently. A simple google search should tell you what you need to know about the company and the people running it. It's sad really.
Re: Bitcoin Surges Past $400
#60There is nothing that can guarantee that this ride is real, but here are a few things: 1. However big is MMM, it's probably too small for the size of the bitcoin economy right now. Remember that if you are transacting in bitcoin, there is one party buying and the other one selling. So you are not rising the price to the moon. 2. The number of transactions has been growing again as of late. It's heating at the blockch…
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