Tulip bulbs! Got your tulip bulbs right here!
tulips that can be transfer digitally anywhere in the world at a low fee...
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Bitcoin Surges Past $400
141–150 of 260 posts
Re: Bitcoin Surges Past $400
#142The Bitcoin dream of it being accepted by banks and replacing fiat currency will never come true, especially since financial institutions are focusing on blockchain technology as opposed to Bitcoin. This recent price increase will possibly be viewed as a dead cat bounce.
What people like you who raise this argument forget is that the success of a blockchain is intertwined with the success of whatever currency/reward is granted to the miners who make the blockchain work. So if Bitcoin's blockchain is adopted by banks, then Bitcoin the currency will succeed. And if banks adopt another blockchain, then the currency of that blockchain will succeed. It is literally impossible to have a fu…
The only "bitcoin" that can succeed is the one that is originated from a sovereign state. For then it has the monopoly and can enforce its taxing power that is what ultimately gives value to fiat currency.
Re: Bitcoin Surges Past $400
#143There 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…
On top of that, remember that bitcoin has many prices, the most important ones being US dollar, Euro and Chinese Yuan. Right now bitcoin is around 500USD, but it's sitting on 450EUR. People buying in euros will be confident that the price will go up to 500EUR and they'll keep pushing up the price. Wich will push CNY price to 3450CNY, a very ugly price, so it will probably move to 3500CNY.
Re: Bitcoin Surges Past $400
#144There 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…
On top of that, remember that bitcoin has many prices, the most important ones being US dollar, Euro and Chinese Yuan. Right now bitcoin is around 500USD, but it's sitting on 450EUR. People buying in euros will be confident that the price will go up to 500EUR and they'll keep pushing up the price. Wich will push CNY price to 3450CNY, a very ugly price, so it will probably move to 3500CNY.
With all due respect, I don't think that's how markets work. I know that people tend to psychologically anchor to round figures, but I don't see this situation playing out as you've described.
Re: Bitcoin Surges Past $400
#145The 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.
I'm a bit confused, the Wikipedia link says it was shut down in 1997 and makes no mention of bitcoin. Is it the same company or is MMM now being used as a generic term?
As Tomku pointed out, it's the same company with the same scammer running it. I know back in 2011 they relaunched as MMM-2011 (creative, I know) and then in 2012, you guess it, MMM-2012. I know some people that were involved in it back then and one of them lost something like $5k. You can get people to do very stupid things if you convince them that you can help them get rich quick.
Re: Bitcoin Surges Past $400
#146The 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…
These these videos feel like they're following a script. Even the titles of all the videos are the same. "MMM Global Pays !"
Re: Bitcoin Surges Past $400
#147The Bitcoin dream of it being accepted by banks and replacing fiat currency will never come true, especially since financial institutions are focusing on blockchain technology as opposed to Bitcoin. This recent price increase will possibly be viewed as a dead cat bounce.
Right, what we will see is financial institutions creating their own branded crypto-currencies and fixing their values in USD. For most people, the main benefit for crypto-currencies is the ability to transfer just like cash. For financial institutions, the primary driver is fraud reduction.
Bitcoin was always just an experiment to work out the kinks and get people to accept the notion of crypto-currencies. It has no long-term viability as an exchange medium, since it will be quickly superseded by institutional competitors which can provide the stability that businesses need to operate.
Re: Bitcoin Surges Past $400
#148The 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.
I'm a bit confused, the Wikipedia link says it was shut down in 1997 and makes no mention of bitcoin. Is it the same company or is MMM now being used as a generic term?
Re: Bitcoin Surges Past $400
#149The price is now $500.
It seems to have hit the ceiling at $500. The price has backed off a few times throughout the day.
Re: Bitcoin Surges Past $400
#150More people are realizing that China and Greece are very close to default. There are more holes in these economies than their respective governments has fingers to plug them in. Flight to bitcoin is the only natural and logical progression.
Where the hell is the flight to gold and bonds then? Something else is going on. Gold is still at $1,120ish USD. There is no flight to safety.
Two reasons.
1. US markets are priming for a temporary rise till approx. end of spring / mid-year 2016.
2. Gold is no longer safe bet in the light of a large scale government defaults and rather drastic domino effort that will follow.
For how long do you think Fed are going to kick the can down the road?