Can't wait to see all the amateur investors wishing for an opportunity to short Bitcoin like we saw in Jan/February when it hit $60.00.
https://www.hnsearch.com/search#request/all&q=%22short+bitco...
Bitcoin breaks $200
71–80 of 209 posts
Re: Bitcoin breaks $200
#72Who wants to talk about china?
Over the last few days the volume of transactions on btcchina has doubled. Gov run chinese media outlets have been surprisingly positive about btc. What is going on? One of the potential uses of btc is capital flight, and that is something that china has been incredibly strict about with their capital controls. Why aren't they clamping down?
edit: some commentary from someone in china familiar with the baidu subsidiary announcement: https://bitcointalk.org/index.php?topic=315380.0
Re: Bitcoin breaks $200
#73US default now-or-later squabble certainly fueled bitcoin. It is becoming de-facto plan B for big players.
Um, no. According to blockchain.info and this $200 price, there are less than $2.5 billion worth of bitcoins in circulation, total. The idea that this would somehow serve as a hedge against an economy a thousand times larger is laughable.
Re: Bitcoin breaks $200
#74Who wants to talk about china? Over the last few days the volume of transactions on btcchina has doubled. Gov run chinese media outlets have been surprisingly positive about btc. What is going on? One of the potential uses of btc is capital flight, and that is something that china has been incredibly strict about with their capital controls. Why aren't they clamping down? edit: some commentary from someone in china f…
Various banks have programs to collateralize chinese assets and offer a loan based on those assets.
eg. You collateralize $10 million in Chinese assets, you get a $8 million dollar loan from a bank branch in another jurisdiction.
Capital controls have already essentially be thwarted by the market, the second item is that BTC actually provides a great public ledger for amounts that would be unfeasible for the usual controls like FINTRAC.
It shouldn't really be called bitcoin so much as bitledger. You also have to consider that factions within the party may think bitcoin will generate more capital inflows rather than capital outflows.
Re: Bitcoin breaks $200
#75If anything to like about Bitcoin is that it has proved that almost everyone else is wrong. * SilkRoad shutting down? Bitcoin is doomed. * Mt.gox is not paying in time or at all? Bitcoin doesn't work. * Asics? There will be a flood of new coins. And yet Bitcoin value continue to raise. If history repeats itself, we should see 1 Bitcoin levels at around $2,000. I think Bitcoin is an interesting phenomena to watch. Bei…
> And yet Bitcoin value continue to raise. If history repeats itself, we should see 1 Bitcoin levels at around $2,000.
It's 2007 I have a house I bought for $300,000 which is now worth $600,000, would you like to buy my house and in two years you will make another $600,000? If there's one thing about real estate in the last 10 years it's that it's proven all those naysayers like Shiller wrong.
Re: Bitcoin breaks $200
#76Earlier quoted context omitted.
I personally think critical mass has been reached, and unless someone actually cracks the protocol (which I seriously doubt) and brings down the txn network, BTC is here to stay. Quibbling about the current valuation misses the point. The secure transfer mechanism is the real value, and is not getting shoved back in the bag. Bet long on BTC and I doubt very highly you'll regret it, even if you get in at 200US and los…
That's what the btc crowd has said every time it bubbles How about you guys go 12 months without losing 25%+ of value in a single day before you start talking about being "here to stay".
The significant rise of the value of Bitcoin despite its volatility, for the last 4 years, has proven that the market doesn't care that much about volatility. Bitcoin is being adopted and growing regardless.
Re: Bitcoin breaks $200
#77Earlier quoted context omitted.
Nothing stops anyone from making their own personal variant of Bitcoin, however. Or 10 of those variants. Or a million. In other words, the limit applies only within a single system, and there is no limit on the number of such systems.
People care about Bitcoin. They don't care about other variants much. This gives Bitcoin value and not the other variants. In other words, creating another blockchain is easy but convincing enough people that the variant coins are worth something is hard. Very hard.
"convincing enough people that the variant coins are worth something is hard. Very hard."
Somehow, people managed to be convinced that Bitcoin was worth something back in 2009. What makes the current situation different? Whatever convinced people that Bitcoin had any value in the first place might convince people that some new alternative you started this morning has some value.
Re: Bitcoin breaks $200
#78This dashboard is very nice to see what's happening in the bitcoin world, in real time : http://realtimebitcoin.info/
Re: Bitcoin breaks $200
#79Who wants to talk about china? Over the last few days the volume of transactions on btcchina has doubled. Gov run chinese media outlets have been surprisingly positive about btc. What is going on? One of the potential uses of btc is capital flight, and that is something that china has been incredibly strict about with their capital controls. Why aren't they clamping down? edit: some commentary from someone in china f…
Speculating: maybe the Chinese like the audit train bitcoin naturally provides.
Re: Bitcoin breaks $200
#80If anything to like about Bitcoin is that it has proved that almost everyone else is wrong. * SilkRoad shutting down? Bitcoin is doomed. * Mt.gox is not paying in time or at all? Bitcoin doesn't work. * Asics? There will be a flood of new coins. And yet Bitcoin value continue to raise. If history repeats itself, we should see 1 Bitcoin levels at around $2,000. I think Bitcoin is an interesting phenomena to watch. Bei…
It's not surprising that it's rising in value. People are holding on to ~12M coins (worth approx. $2.4B) and are hyping it up so that more people buy them. The more people that buy them, the more the price will go up, the more that they'll be worth, the more that people will buy them....
Ah, the old and false "holding" argument.
2 million coins have changed hands in the last 30 days: http://bitcoinity.org/markets/list?currency=ALL&span=30d And that is just on these exchanges, not even counting other places of exchanges (coinbase which is probably the 2nd largest coins seller in the US), or purchases (Bitpay signed up 10 thousand vendors!), etc.
If this rate is kept, the entire existent volume of bitcoins, a bit less than 12 million, would change hands in the next 6 months.
It doesn't matter if it is 1 coin changing hands 12 million times, or 12 million coins changing hands one time each. Volume is volume. And it proves that not that many coins are being hoarded.