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Thread: Bitcoin Back Up To $1000

  1. #31
    $1167.00 = sell price on coinbase.



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  3. #32
    I see on Wiki that the previous high in 2013 was $1242. Weird for me because I thought it had peaked at $1,100 - something. I don't remember the $1,200 - something..



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  5. #33
    $981.98 right now. Looks like a selling frenzy panic.

  6. #34
    Quote Originally Posted by anaconda View Post
    I see on Wiki that the previous high in 2013 was $1242. Weird for me because I thought it had peaked at $1,100 - something. I don't remember the $1,200 - something..
    This article says the all-time high in 2013 was "around $1150" which is what I seem to recall. Maybe Wiki was referring to some other exchange or something...

    http://www.forbes.com/sites/laurashi.../#1533c14c563c

  7. #35

  8. #36
    Quote Originally Posted by anaconda View Post
    $981.98 right now. Looks like a selling frenzy panic.
    Or simply cashing out? If it were bought at $300, now would be a good time. No?

  9. #37
    Quote Originally Posted by anaconda View Post
    $981.98 right now. Looks like a selling frenzy panic.
    Every time you get to , say 1K I imagine it will be like gold @ 1200 or 1300 and profit taking ?
    Do something Danke

  10. #38
    Quote Originally Posted by phill4paul View Post
    Or simply cashing out? If it were bought at $300, now would be a good time. No?
    Sure. But $30,000 or more is better in a couple of years when the Congress makes it abundantly clear that they can't meet obligations and can't afford interest rate increases on the debt. and I guess for everyone who's currently selling at $960 is matched with someone who definitely wants to get in at $960. My GF got in at $555 and I'm encouraging her to hold them for at least 3-5 years. Or use them if everyone stops buying U.S. bonds. It seems like the potential upside to BTC is yuuuuuge.
    Last edited by anaconda; 01-07-2017 at 02:48 PM.

  11. #39
    Quote Originally Posted by oyarde View Post
    Every time you get to , say 1K I imagine it will be like gold @ 1200 or 1300 and profit taking ?
    Ya mean a persistent psychological barrier?

  12. #40
    Quote Originally Posted by anaconda View Post
    Sure. But $30,000 or more is better in a couple of years when the Congress makes it abundantly clear that they can't meet obligations and can't afford interest rate increases on the debt. and I guess for everyone who's current selling at $960 is matched with someone who definitely wants to get in at $960. My GF got in at $555 and I'm encouraging her to hold them for at least 3-5 years. Or use them if everyone stops buying U.S. bonds.
    Yeah. I don't see it (Bitcoin) imploding anytime soon. Holding on to it would not be a bad move. I was just thinking that with the economy some may be converting to cover debt.



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  14. #41
    Quote Originally Posted by anaconda View Post
    Ya mean a persistent psychological barrier?
    Ya . I dunno how I am going to get my million , but I am patient .
    Do something Danke

  15. #42
    Quote Originally Posted by oyarde View Post
    Ya . I dunno how I am going to get my million , but I am patient .
    You raise an interesting point that I have been thinking about recently. In the event of a full blown currency crisis, I don't see how BTC (or anything else) will be able to be denominated in U.S. dollars. So, getting to "$1,000,000" may never be possible, per se. You may be able to purchase a "basket of goods" that would be measured in, what we will have calculated to be, $1,000,000 at the January, 2017 price level. I dunno. What do you think? BTC may become tradeable in gold or maybe corporate stock or something.
    Last edited by anaconda; 01-05-2017 at 02:07 PM.

  16. #43
    Quote Originally Posted by phill4paul View Post
    Yeah. I don't see it (Bitcoin) imploding anytime soon. Holding on to it would not be a bad move. I was just thinking that with the economy some may be converting to cover debt.
    Point well taken. And, obviously, what everyone would ideally like to do is sell right before a dip and buy back at the trough of the dip. Even if one is holding longer term for when the SHTF. And they have the financial resources to do so (as you allude to re covering personal debt).
    Last edited by anaconda; 01-05-2017 at 02:11 PM.

  17. #44

  18. #45
    Quote Originally Posted by anaconda View Post
    You raise an interesting point that I have been thinking about recently. In the event of a full blown currency crisis, I don't see how BTC (or anything else) will be able to be denominated in U.S. dollars. So, getting to "$1,000,000" may never be possible, per se. You may be able to purchase a "basket of goods" that would be measured in, what we will have calculated to be, $1,000,000 at the January, 2017 price level. I dunno. What do you think? BTC may become tradeable in gold or maybe corporate stock or something.
    If the currency goes belly up , maybe we still have "dollars" that are now measured in silver , gold , bitcoin , gasoline, copper and eggs as an example or maybe they are called something else . My youngest Grand daughter calls gold " good wampum " as opposed to bad paper money
    Do something Danke

  19. #46
    Quote Originally Posted by oyarde View Post
    If the currency goes belly up , maybe we still have "dollars" that are now measured in silver , gold , bitcoin , gasoline, copper and eggs as an example or maybe they are called something else . My youngest Grand daughter calls gold " good wampum " as opposed to bad paper money
    Where would these "dollars" come from? Who would create them and how would they become accepted? And how would they become fixed to the commodities that you list?

  20. #47
    Quote Originally Posted by anaconda View Post
    You raise an interesting point that I have been thinking about recently. In the event of a full blown currency crisis, I don't see how BTC (or anything else) will be able to be denominated in U.S. dollars. So, getting to "$1,000,000" may never be possible, per se. You may be able to purchase a "basket of goods" that would be measured in, what we will have calculated to be, $1,000,000 at the January, 2017 price level. I dunno. What do you think? BTC may become tradeable in gold or maybe corporate stock or something.
    Bitcoin is already trade-able in gold. It's trade-able in anything. Bitcoin is nothing but a reliable public ledger that tracks scalar values associated with securely owned account numbers. Making bitcoin a gold-backed currency wouldn't be a problem if you simply forced the issuance of new coins into that sub-system to originate with a specific account.

    There's lots of things we could do with Bitcoin in it's existing form that would be helpful, but few people really understand what money is or how it works, and even fewer understand which problems related to money that bitcoin actually solves, or could solve.
    Last edited by wizardwatson; 01-05-2017 at 02:29 PM.
    When a trumpet sounds in a city, do not the people tremble?
    When disaster comes to a city, has not the Lord caused it? Amos 3:6

  21. #48
    Quote Originally Posted by wizardwatson View Post
    Bitcoin is already trade-able in gold. It's trade-able in anything. Bitcoin is nothing but a reliable public ledger that tracks scalar values associated with securely owned account numbers. Making bitcoin a gold-backed currency wouldn't be a problem if you simply forced the issuance of new coins into that meta-system to originate with a specific account.

    There's lots of things we could do with Bitcoin in it's existing form that would be helpful, but few people really understand what money is or how it works, and even fewer understand which problems related to money that bitcoin actually solves.
    Right. Great points. And, I don't think we will see any BTC being traded for U.S. dollars in a currency crisis.



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  23. #49
    Wow, below 900. Either a great time to buy or a long drawn out drop before climbing again.

    This drop corresponding to the last decline from the record high awhile back?
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq

  24. #50
    Quote Originally Posted by kpitcher View Post
    Wow, below 900. Either a great time to buy or a long drawn out drop before climbing again.

    This drop corresponding to the last decline from the record high awhile back?
    $882.00 now. I'm gonna naively guess this is a good price to get back in at. We'll know soon enough.

  25. #51
    Quote Originally Posted by RonPaulIsGreat View Post
    The truth of the matter is if the supposed "liberty" oriented people used bitcoin we'd have enough of a network of users to make living outside goobermint money possible for some, or mostly for many. However, I get the feeling that most of the liberty movement is merely composed of natural contrarians, and this movement is just a convenient niche to always be an oppressed group and provide infinite source material to complain and whine about.

    However, here we are with a couple percent of the users participating, more users will whine about the fed than do anything about it.

    Gold will never replace $#@!, it's easy to confiscate and manipulate. Bitcoin may still fail but that would be because of the ballless anarcho-capitalists, libertarians, etc... don't put their money where their mouth is.
    I've said it before: Buying and holding $100 of bitcoin does 5x as much for liberty as a $100 donation to any liberty politician.

  26. #52
    Thanks for this link!

  27. #53

  28. #54
    I have no idea why bitcoin prices are so volatile.

  29. #55

  30. #56
    Quote Originally Posted by Jim Casey View Post
    I have no idea why bitcoin prices are so volatile.
    Probably because it's still in the emerging stage.

    As long as the 30 and 60 day moving averages are relatively stable or continue to rise, no reason to avoid it, though.. If you want to make a purchase in bitcoin and you are cautious, you can always wait until you need to make the purchase and then get the bitcoin to avoid losing value.

    If you want to buy some and hold to use later or as an investment, then what is the problem if the moving averages keep rising?
    Last edited by dannno; 01-11-2017 at 07:55 PM.
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  32. #57
    Quote Originally Posted by dannno View Post
    Probably because it's still in the emerging stage.

    As long as the 30 and 60 day moving averages are relatively stable or continue to rise, no reason to avoid it, though.. If you want to make a purchase in bitcoin and you are cautious, you can always wait until you need to make the purchase and then get the bitcoin to avoid losing value.

    If you want to buy some and hold to use later or as an investment, then what is the problem if the moving averages keep rising?
    I heard the Chinese government made everyone nervous:

    http://www.cnbc.com/2017/01/11/bitco...ate-firms.html
    Last edited by anaconda; 01-11-2017 at 08:49 PM.

  33. #58

  34. #59

  35. #60

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