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Posted: 8/19/2017 9:49:06 PM EDT
Bitcoin recently peaked at $4458.00/coin. It's currently fallen to $4087/coin.

Over the next five years what do you think the lowest value it will trade for is?

ETA. If you think it will trade below $500 and above $1.00, choose $500.

ETA2: Peaked at $6650 earlier today, lol.
Link Posted: 8/19/2017 10:05:26 PM EDT
[#1]
Comments are appreciated.  I'm stuck in a hotel room with not much to do, lol.
Link Posted: 8/19/2017 10:08:34 PM EDT
[#2]
I will back up the truck once it hits 87 cents.
Link Posted: 8/19/2017 10:13:34 PM EDT
[#3]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I will back up the truck once it hits 87 cents.
View Quote
I doubt that happens unless a flaw is exposed that essentially makes it worth $0.
Link Posted: 8/19/2017 10:20:15 PM EDT
[#4]
I wouldn't know.

I dabbled a little a couple years ago.

Always bet wrong.

Had a few alt coins like lite coin on BTC-E, and when I tried to login this year my account was locked due to inactivity. To protect me I'm sure.

Played the email game for 2 months to unlock the account. It was like talking to retarded foreigners.

I'm sure they fucked away whatever I had.
Link Posted: 8/19/2017 10:21:02 PM EDT
[#5]
Let me guess, you own a bunch of it?
Link Posted: 8/19/2017 10:23:20 PM EDT
[#6]
It will decrease by -10,000.
Link Posted: 8/19/2017 10:30:51 PM EDT
[#7]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Let me guess, you own a bunch of it?
View Quote
No. I sold out 70% of my holdings at $2700/coin. I've got about 1 btc left.

I spent money on alt coin mining equipment in 2014. I of course bought at precisely the wrong time and didn't make my money back until this more recent bubble.

I think this bubble will crash somewhere below $1k. At which point it will likely climb beyond it's current high sometime in the next 5 to 10 years.

Essentially I see its value as being driven largely by it's acceptance as a form of payment. It's entirely possible it will be abandoned.

I find the idea of a non-government backed deflationary currency appealing to the libertarian side of me.
Link Posted: 8/19/2017 10:37:47 PM EDT
[#8]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I doubt that happens unless a flaw is exposed that essentially makes it worth $0.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
I will back up the truck once it hits 87 cents.
I doubt that happens unless a flaw is exposed that essentially makes it worth $0.
The flaw is it is basically vaperware. Anything happens to the net it is worthless.
Link Posted: 8/19/2017 10:41:02 PM EDT
[#9]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
The flaw is it is basically vaperware. Anything happens to the net it is worthless.
View Quote
The net is fairly redundant at this point. Anything that permanently takes the net offline is likely crashing stocks and dollars as well.

The block chain is spread and authenticated around the world. Short term interruptions aren't that big of a deal.
Link Posted: 8/19/2017 10:43:13 PM EDT
[#10]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I will back up the truck once it hits 87 cents.
View Quote
Unpossible.  It's digital.
Link Posted: 8/19/2017 10:43:45 PM EDT
[#11]
I am not sure I would call it a bubble.
I would expect it to only go down depending on the fork.

I see the new bitcoin cash has started going up quite a bit.
So I wonder if it will be like eth vs etc.
and they might swap places. but I don't think crypto will "pop" in general.
Link Posted: 8/19/2017 10:47:33 PM EDT
[#12]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I wouldn't know.

I dabbled a little a couple years ago.

Always bet wrong.

Had a few alt coins like lite coin on BTC-E, and when I tried to login this year my account was locked due to inactivity. To protect me I'm sure.

Played the email game for 2 months to unlock the account. It was like talking to retarded foreigners.

I'm sure they fucked away whatever I had.
View Quote
BTC-E got shut down by the man, fwiw.

Not sure if anyone is going to get their coins.
Link Posted: 8/19/2017 10:49:04 PM EDT
[#13]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I am not sure I would call it a bubble.
I would expect it to only go down depending on the fork.

I see the new bitcoin cash has started going up quite a bit.
So I wonder if it will be like eth vs etc.
and they might swap places. but I don't think crypto will "pop" in general.
View Quote
I see a lot of its current growth as due to the crypto traders. The problem being that feedback of those looking to generate dollars can cause a mean loop pushing values quickly up or down.

If people start thinking of btc as a great place to keep their savings because it steadily evades inflation,  that will be interesting. 
Link Posted: 8/19/2017 10:49:58 PM EDT
[#14]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


BTC-E got shut down by the man, fwiw.

Not sure if anyone is going to get their coins.
View Quote
Another example of why long term storage should be kept off the exchanges.
Link Posted: 8/19/2017 10:54:46 PM EDT
[#15]
Life will be cheap in 5 years if the deep state gets their way.
Link Posted: 8/19/2017 11:06:39 PM EDT
[#16]
As part of the package deal for China's Yuan to be included in the SDR, China agree to work on monetizing chattel electronically.  They already did it with tea and now have ACC (Asset Collection Chain) which can digitalize any form of property including your labor or body parts.  

When fiat dies, the IMF wants us to go digital.  It makes you much more vulnerable to them.  Remember the Bourne film where Bourne goes to an ATM and can't get any cash?  Same with any persona-non-grata.  Second, by going digital they know exactly what you buy and from whom.  Third, you are vulnerable to inflation at any time since they control all your "money." Fourth, unlimited taxation with every transaction.  You can't earn or spend without being taxed.  

Bitcoin is their enemy because it is outside of central control - something they don't like and is a serious challenge to their control over the monetary system.
Link Posted: 8/19/2017 11:13:05 PM EDT
[#17]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I see a lot of its current growth as due to the crypto traders. The problem being that feedback of those looking to generate dollars can cause a mean loop pushing values quickly up or down.

If people start thinking of btc as a great place to keep their savings because it steadily evades inflation,  that will be interesting. 
View Quote
Hard to really say where everything goes.

One thing everyone learned...... a split means $$$ in (at least) the short term. That will always drive the price up in the near term (until we see some sort of negative after effect on BTC).

It's such a weird space right now. Older coins with very little oversight or funding (essentially) competing with newer coins with baked in marketing budgets.

Think about the path of new (dumb, non institutional money) into crypto. It's extremely early days for marketing and you have 3.5 groups providing "information"

1. The Bitcoin guys. Made enough money to fuck around and promote Bitcoin.
2. The Ethereum guys. Made enough money to fuck around and promote Ethereum.
3. The marketing coins. Included a mechanism to either (1) hold a shit ton of coins to pay for hype, or (2) coded the coin to pay for hype
3.5. The few random Joe's who don't "really" have strong motive toward one coin.
Link Posted: 8/19/2017 11:19:39 PM EDT
[#18]
When people lose faith in their fiat, they will find some shelter to protect their purchasing power.  It's Gresham's Law in action.
Link Posted: 8/19/2017 11:19:43 PM EDT
[#19]
I'm not a fan of any crypto that doesn't have a hard cap on growth. That's one of my big complaints about ether.

In the end theirs probably only room for a couple cryptos. Everything else will languish and die.
Link Posted: 8/19/2017 11:27:05 PM EDT
[#20]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
When people lose faith in their fiat, they will find some shelter to protect their purchasing power.  It's Gresham's Law in action.
View Quote
It's one of the prime reasons I hold onto my bitcoin. I see it as having tons of growth in the event we have hyper inflation.

While the US gov is in better shape this year than it has been in some time, we still have a major deficit issue. As little as a couple years ago we were on track to spend half of US income on servicing the debt - in as little as 10 years. With the increase in tax revenues last year, it will push that point out 50+ years - as long as we don't increase our borrowing or expenditures.

The problem is that we've had about eight bull years, that's going to turn around at some point. If it's a major market run the fed may be tempted to increase qe and the gov will lose revenue. That type of incident would bring the fatal point of spending over half of revenue on debt servicing closer again. FWIW, I assume .gov borrows from the fed at 3% interest when I make these guestimates.
Link Posted: 8/19/2017 11:34:18 PM EDT
[#21]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
It's one of the prime reasons I hold onto my bitcoin. I see it as having tons of growth in the event we have hyper inflation.

While the US gov is in better shape this year than it has been in some time, we still have a major deficit issue. As little as a couple years ago we were on track to spend half of US income on servicing the debt - in as little as 10 years. With the increase in tax revenues last year, it will push that point out 50+ years - as long as we don't increase our borrowing or expenditures.

The problem is that we've had about eight bull years, that's going to turn around at some point. If it's a major market run the fed may be tempted to increase qe and the gov will lose revenue. That type of incident would bring the fatal point of spending over half of revenue on debt servicing closer again. FWIW, I assume .gov borrows from the fed at 3% interest when I make these guestimates.
View Quote
If (when) the economy has issues, crypto will have issues as the jobless sell off coins.
Link Posted: 8/19/2017 11:37:51 PM EDT
[#22]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
No. I sold out 70% of my holdings at $2700/coin. I've got about 1 btc left.

I spent money on alt coin mining equipment in 2014. I of course bought at precisely the wrong time and didn't make my money back until this more recent bubble.

I think this bubble will crash somewhere below $1k. At which point it will likely climb beyond it's current high sometime in the next 5 to 10 years.

Essentially I see its value as being driven largely by it's acceptance as a form of payment. It's entirely possible it will be abandoned.

I find the idea of a non-government backed deflationary currency appealing to the libertarian side of me.
View Quote
I have no idea how low or high BC will go but I'm here to read more posts like this.  Right now I am reading and digesting as much as I can on the matter.   
Link Posted: 8/19/2017 11:41:03 PM EDT
[#23]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


If (when) the economy has issues, crypto will have issues as the jobless sell off coins.
View Quote
Read Gyprat's thread in the survival forum re: Collapse of the Soviet Union.  BTW, a German told me the same thing about Post WW II Germany.  You bartered to survive and if you had nothing to barter, you starved.
Link Posted: 8/19/2017 11:46:26 PM EDT
[#24]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

Read Gyprat's thread in the survival forum re: Collapse of the Soviet Union.  BTW, a German told me the same thing about Post WW II Germany.  You bartered to survive and if you had nothing to barter, you starved.
View Quote
I wasn't referring to a collapse or TEOTWAWKI.
Link Posted: 8/19/2017 11:54:51 PM EDT
[#25]
I don't get it, seems like beanie babies for tech nerds. I voted 0.
Link Posted: 8/20/2017 12:08:05 AM EDT
[#26]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
If (when) the economy has issues, crypto will have issues as the jobless sell off coins.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
It's one of the prime reasons I hold onto my bitcoin. I see it as having tons of growth in the event we have hyper inflation.

While the US gov is in better shape this year than it has been in some time, we still have a major deficit issue. As little as a couple years ago we were on track to spend half of US income on servicing the debt - in as little as 10 years. With the increase in tax revenues last year, it will push that point out 50+ years - as long as we don't increase our borrowing or expenditures.

The problem is that we've had about eight bull years, that's going to turn around at some point. If it's a major market run the fed may be tempted to increase qe and the gov will lose revenue. That type of incident would bring the fatal point of spending over half of revenue on debt servicing closer again. FWIW, I assume .gov borrows from the fed at 3% interest when I make these guestimates.
If (when) the economy has issues, crypto will have issues as the jobless sell off coins.
Right, but eventually the economy will rebound, and the technology itself isn't going anywhere. It's a legit third form of currency now along with fiat and precious metals.
Link Posted: 8/20/2017 12:10:42 AM EDT
[#27]
Won't go below 2500 ever again. Will be 5k by end of year. 15k+ next 2-3 years, 50k in 5+ years. It's not a bubble if only a tiny fraction of people on earth own one any, not to mention only 21 million can ever exist and 10-20% of those are lost forever via destroyed wallets and sent to invalid addresses.

Do the math: http://www.businessinsider.com/bitcoin-price-could-be-500000-by-2030-first-snapchat-investor-says-2017-3
Link Posted: 8/20/2017 12:12:54 AM EDT
[#28]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Right, but eventually the economy will rebound, and the technology itself isn't going anywhere. It's a legit third form of currency now along with fiat and precious metals.
View Quote
I know and agree.
Link Posted: 8/20/2017 12:20:50 AM EDT
[#29]
It will trade on par with Woopie's Floozie ($0.00).
Link Posted: 8/20/2017 9:21:53 AM EDT
[#30]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
It will trade on par with Woopie's Floozie ($0.00).
View Quote
You really think a payment method accepted by 100,000 businesses currently will be worth $0.00 in under five years?  Not to mention it's a limited quantity item. Unlike most currencies that inflate over time, bitcoin has a 21,000,000 cap. 
Link Posted: 8/20/2017 3:16:56 PM EDT
[#31]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Won't go below 2500 ever again. Will be 5k by end of year. 15k+ next 2-3 years, 50k in 5+ years. It's not a bubble if only a tiny fraction of people on earth own one any, not to mention only 21 million can ever exist and 10-20% of those are lost forever via destroyed wallets and sent to invalid addresses.

Do the math: http://www.businessinsider.com/bitcoin-price-could-be-500000-by-2030-first-snapchat-investor-says-2017-3
View Quote
Made hot.
http://www.businessinsider.com/bitcoin-price-could-be-500000-by-2030-first-snapchat-investor-says-2017-3
Link Posted: 8/20/2017 7:24:04 PM EDT
[#32]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

Read Gyprat's thread in the survival forum re: Collapse of the Soviet Union.  BTW, a German told me the same thing about Post WW II Germany.  You bartered to survive and if you had nothing to barter, you starved.
View Quote
Even with a massive economic downturn I don't think we will be nearly that bad off. Food is easier to produce today and consumes far less manpower to generate. It's one of the benefits of advancing technology and knowledge.
Link Posted: 8/21/2017 12:47:07 AM EDT
[#33]
You're in OK with its deep red soil.  You can grow a lot of things.  Big city boys in NYC, Portland, Seattle, Los Angeles, San Francisco don't have access to a garden plot.

Like I was telling my friend who is still a LEO in SF, if you want to bring SF to its knees, cut off its water.
Link Posted: 8/21/2017 12:52:49 AM EDT
[#34]
The big unknown is What will the world banks do?

They have to be formulating schemes to control it or kill it.
Link Posted: 8/21/2017 12:54:18 AM EDT
[#35]
Ep. 276: Bitcoin is a Digital Risk Asset, Not a Currency


It's a bubble.  Get out now.
Link Posted: 8/21/2017 1:21:46 AM EDT
[#36]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
The big unknown is What will the world banks do?

They have to be formulating schemes to control it or kill it.
View Quote
Lynette Zang discusses the ACC (Assets Collection Coin) which the Chinese are developing on behalf of the IMF.  
BREAKING: BANKERS' NEW SDR CRYPTO BLOCKCHAIN WILL ENSLAVE HUMANITY?? - Lynette Zang
Link Posted: 8/21/2017 7:05:31 AM EDT
[#37]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
https://www.youtube.com/watch?v=nIOONogoHDE

It's a bubble.  Get out now.
View Quote
I got most my funds out awhile back. I hold a little now as a hedge against dollar destabilization/high inflation.

I view the current price as bubble territory. In the long term I see it's value/future growth heavily linked to it's acceptance and low cost as a payment option.
Link Posted: 8/21/2017 7:24:35 AM EDT
[#38]
Bitcoin is the "gold" of the crypto world. It's what the valuation of all alts are tied to.

"It doesn't do anything, it's vapor, etc". Well, it's already doing what it's supposed to. I can send BTC to anyone... ANYONE in the world. ATMs are springing up like mushrooms, even in the US. It's becoming easier and easier to use.

There are a lot of actual business cases being developed right now by "alt coin" companies. For example, Civic... it's being used right now by Wikihow as an identity provider. TenX Pay... a way to actually access your crypto with a "credit card" so you can use it anywhere you'd use credit. It goes on and on. Blockchain tech is a big deal, and while people who haven't educated themselves about it talk it down about being fake, a Ponzi scheme, etc., the bigger fish in the sea are quietly moving around behind the scenes to utilize it.

There's a major bank near me that is looking for an Application Manager position to be filled, "looking for someone with experience with blockchain, Ripple, and other cutting edge technologies." The move is going to happen whether you're aware of it or not. A lot of people won't necessarily notice nor care; just like most people don't really understand how Western Union actually moves "money" around. As long as it works, they don't care about what is under the hood. The general public will be the last to know.

I say the low going forward will be $2800. It's been supposed to "die any day now" for about 9 years now. It's still in its infancy.
Link Posted: 8/21/2017 8:00:44 AM EDT
[#39]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


BTC-E got shut down by the man, fwiw.

Not sure if anyone is going to get their coins.
View Quote
Only for US. Use a proxy/connect from another country and it's still there
Link Posted: 8/21/2017 8:04:28 AM EDT
[#40]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Only for US. Use a proxy/connect from another country and it's still there
View Quote
No, it's completely shut down. You get the FBI notification no matter what country you're coming in from. (Opera has a built-in "VPN" you can use to move your sessions around the world)
Link Posted: 8/21/2017 8:04:34 AM EDT
[#41]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I'm not a fan of any crypto that doesn't have a hard cap on growth. That's one of my big complaints about ether.

In the end theirs probably only room for a couple cryptos. Everything else will languish and die.
View Quote
Just like there's only room for one currency? USD may b dominant currently but there are still many currencies.  Crypto will be no different, and having multiples will provide strong disincentive to trying to corner the market on any one coin for fear of very quickly becoming a bag holder.   there's really no easy way to control a decentralized currency
Link Posted: 8/21/2017 8:05:02 AM EDT
[#42]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Only for US. Use a proxy/connect from another country and it's still there
View Quote
Bitfinex or BTC-E?

I haven't heard anything about BTC-E coming back.
Link Posted: 8/21/2017 8:06:23 AM EDT
[#43]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Right, but eventually the economy will rebound, and the technology itself isn't going anywhere. It's a legit third form of currency now along with fiat and precious metals.
View Quote
It makes the current, centrally controlled, model of fiat obsolete. This just hasn't yet been realized by too many people;  it it's coming
Link Posted: 8/21/2017 8:10:45 AM EDT
[#44]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
The big unknown is What will the world banks do?

They have to be formulating schemes to control it or kill it.
View Quote
In the long run they will crumble and die as they would be completely unnecessary any longer. No need to keep your money at a bank, no need to go ask them for permission to have your money back, no need for checkbook/wire transfer at ridiculous fees.

Lending will be handled independently from banks via crowd sourcing methods.

Banks require centralization, crypto is the other end of the spectrum.
Link Posted: 8/21/2017 8:13:43 AM EDT
[#45]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


No, it's completely shut down. You get the FBI notification no matter what country you're coming in from. (Opera has a built-in "VPN" you can use to move your sessions around the world)
View Quote
I'll have to check again later as didn't think that was the case, but how does FBI get to seize something located in another country?
Link Posted: 8/21/2017 8:23:17 AM EDT
[#46]
Dogecoin is where the real money is.

To the moon!
Link Posted: 8/21/2017 8:24:45 AM EDT
[#47]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


I'll have to check again later as didn't think that was the case, but how does FBI get to seize something located in another country?
View Quote
Exactly... basically the US does what it wants. No wonder people aren't big fans, worldwide.

Bitfinex is dumping its US customers... but it's easy enough to use a VPN and simply not verify. Might even be "safer" this way without Big Brother snooping around.

"Sorry, we don't have any US customers here, it's in our policy and we block US IP addresses. Have a nice day Mr FBI Guy!"
Link Posted: 8/21/2017 1:20:47 PM EDT
[#48]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
https://www.youtube.com/watch?v=nIOONogoHDE

It's a bubble.  Get out now.
View Quote
When has Peter Schiff ever been right on anything?
Link Posted: 8/21/2017 1:23:23 PM EDT
[#49]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Lynette Zang discusses the ACC (Assets Collection Coin) which the Chinese are developing on behalf of the IMF.   https://www.youtube.com/watch?v=sG3Ju8AhCKM
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
The big unknown is What will the world banks do?

They have to be formulating schemes to control it or kill it.
Lynette Zang discusses the ACC (Assets Collection Coin) which the Chinese are developing on behalf of the IMF.   https://www.youtube.com/watch?v=sG3Ju8AhCKM
They could use legal tender laws to force use of ACC, but there's no way they can completely stamp out the other (decentralized) coins entirely.   Why anyone would voluntarily use ACC vs a decentralized crypto not controlled by a .gov or central bank?
Link Posted: 8/21/2017 1:31:50 PM EDT
[#50]
I can't decide where it's going long term. It's primary use is to transfer funds and other newer coins do it better. Newer coins have additional functionality (smart contracts, etc).

But Bitcoin has name recognition and market position, which is hard to overcome.
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