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Bitcoin discussion

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  1. #1

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    Bitcoin discussion

    Just for interest sake. What do you guys think about the future value of Bitcoin, both short and long term?
    It is currently around $4000, higher than ever before, but it nothing stops it from going much higher, no?
    Of course, it could crash easily too. What are your opinions?


  2. #2

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    There are three things that could happen.

    1. It might go up
    2. It might go down
    3. It might stay the same

    Disclaimer - this is not investment advice, just a silly comment

    nivantj and civil_servant like this.

  3. #3

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    OP considering recent violent price movements, nobody can answer your question with more surety than the one answered by Robert above..

    My analogy for bitcoin is Its in dotcom stage, you need to find Amazon and eBay out of it..


  4. #4

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    Yes, I think everyone is aware of the volatility of Bitcoin, but I was hoping to hear from people with some insight into Btc and other crypto currencies. Obviously global financial, political and social situations have a huge influence on its value.


  5. #5

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    The insight is that there is a lot of volatility. This is good for some types of algo trading. I have been thinking about writing a few strategies to exploit that. There is, of course, the big issue of the exchanges being highly untrustworthy, unprofessional and unreliable. The fees are also quite high. But I guess there is money to be made!


  6. #6

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    Quote Originally Posted by ebow3d
    Yes, I think everyone is aware of the volatility of Bitcoin, but I was hoping to hear from people with some insight into Btc and other crypto currencies. Obviously global financial, political and social situations have a huge influence on its value.
    If you wish to have a discussion, you should go read the original white paper for bitcoin first.

    IMNSHO, 99% of the altcoins that you see ICO'ing at the moment are scams. That's not to say that they can't get pumped and increase in value. But purely from a technical, rational perspective, most of it is hog wash just trying to cash in on the ICO bubble. All you need to do is write a white paper, spend a few dollars and voila you can have your very own ExpatCoin to sell to the blind.
    nivantj likes this.

  7. #7

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    ^^ You are probably correct about most new altcoins being scams.
    However, I am mainly concerned with Bitcoin, as it has been around for a few years now. In fact I'm surprised that it lasted this long. By now, I would think that it has grown big enough to actually be around for a long time.
    In fact, there are people who actually use Btc as a kind of safe haven, like gold used to be. If you live in a country where the currency is always going to depreciate, like South Africa, then it makes sense to buy Bitcoin.

    Last edited by ebow3d; 15-08-2017 at 12:44 PM.

  8. #8

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    BTC is the new tulip. Also, another reference to the Netherlands, it's a safer payment system for grass trading. But it is definitely more volatile than gold has ever been.


  9. #9

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    currency value tends to fluctuate on demand, supply, and the confidence in the government or bank to support said currency.

    My personal opinion is that the value will depend on supply. It will be mined by farms when the value of the bitcoin makes sense for farms to use resources for that purpose. When there is over-supply and the value goes down, they will stop. They will start again when there is under-supply and the value goes up.

    So basically, there will be an optimum value and it will fluctuate around that by a few %.


  10. #10

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    I'm holding a couple of coins which I do not believe to be scams but they are obviously high risk and long plays.


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