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Re: End of bitcoin?

Posted: December 14th, 2018, 6:42 pm
by Alan
When I started this thread in 2014, BTC was around $500 and Mt. Gox was just about to fail. What followed was a run-up to near $20,000 late last year and subsequent sell-off to around $3,000 today. Since bitcoin has no intrinsic value or reference points, a log price scale seems appropriate. Using the log price intervals on the right of the chart below, make your guesses for what interval we will be in a year, say Dec 14, 2019. I think a plausible total range is covered, but you never know.  :D 

Image
Source: bitcoincharts.com

I will guess: back to where this particular chart starts, $500-1000.

Re: End of bitcoin?

Posted: December 15th, 2018, 1:10 am
by bearish
We've seen something like an 85% drop from the peak. I'm thinking we need two more of those to get to a reasonable value, but I think that can easily take a couple of years. So I'll go with 85% down from $3,000, which is just below your range at $450.

Re: End of bitcoin?

Posted: December 16th, 2018, 8:39 pm
by alpher
what a scam I hope it edns to be honest. 

Re: End of bitcoin?

Posted: December 16th, 2018, 8:39 pm
by alpher
what a scam I hope it edns to be honest. 

Re: End of bitcoin?

Posted: December 16th, 2018, 9:38 pm
by ppauper
what a scam I hope it edns to be honest. 
edns?

Re: End of bitcoin?

Posted: December 16th, 2018, 10:08 pm
by alpher
^ i am sure you have iq of 200+ to figure out the misspelling...

Re: End of bitcoin?

Posted: December 16th, 2018, 10:21 pm
by bearish
For somebody who appears to be actively looking to land a coding job on this forum, I would tend to agree that an accidental double post with missing punctuation and a misspelling does not necessarily send the right signal. Attention to detail, and all that. On the substance of bitcoin, I think we agree. 

Re: End of bitcoin?

Posted: December 17th, 2018, 12:10 am
by alpher
i argee tuu, biirish. 

Re: End of bitcoin?

Posted: December 17th, 2018, 12:10 am
by alpher
PS
I may end up banned for trolling now :( but had to make the above post anyway :).

Re: End of bitcoin?

Posted: December 17th, 2018, 3:26 am
by bearish
I wouldn't worry about that. Far worse things are happening around here on a regular basis. So, as long as the job thing is not important, you're fine.

Re: End of bitcoin?

Posted: December 17th, 2018, 2:53 pm
by alpher
^ Like what? I guess predicting BTC at $20k by the end of 2018 is what you consider "far worse". 

Re: End of bitcoin?

Posted: December 17th, 2018, 6:16 pm
by alpher
On a more serious note, I've done some tests on BTC data and it seems to be random...very random. I am sure this doesn't come as a surprise to people on this forum though but try explaining it to people on reddit, the btc subreddit...

Re: End of bitcoin?

Posted: December 23rd, 2018, 11:24 pm
by ISayMoo

Re: End of bitcoin?

Posted: December 23rd, 2018, 11:39 pm
by ppauper
bipartisan, one dem, one GOP

It's a valid issue, how should cryptocurrencies be regulated, if at all?
As securities?
And, perhaps most notably, under the bill’s definition, a digital token “is not a representation of a financial interest in a company, including an ownership or debt interest or revenue share.”
As commodiites?
As currencies?
As collectibles?

Re: End of bitcoin?

Posted: December 24th, 2018, 2:08 am
by bearish
How about simply outlawing them?