Yeah, the price should rise steadily with retraces.
Every 4 years there is the “halving” process, that has an deflationary effect on the price. This past November 22 the first halving became active. Now is the time the price is starting to feel the effects, that effects are one cause that the price is in this strong uptrend.
4 years from now the next halving can cause the price to double again in some months.
And with more and more people trying to buy bitcoins and other people that uses bitcoins, the price should be up also. Now 1 USD is about 0.08 bitcoins.
The government doesn’t actually back up your currency. They guarantee it is worth one dollar, but they dont guarantee its value in goods or services or commodities. Quite the opposite. Governments guarantee you will lose half of your purchasing power in 20 yrs (with a 2% inflation rate target).
Bitcoin isn’t government backed and so it cant be govt manipulated. Bitcoin is limited in supply simulating a gold backing which makes it a solid currency. If this is universally accepted it can be the peoples currency. There is a limited amount by design, so it is inflation proof. People just have to trust in it, like they do the governments currency. The volatility will even out over time if it becomes a major currency and is widely used.
Just stick to forex its the best one.Its backed up by 2 countries government/economy.These virtual currencies are just a bunch of … I also don’t like commodities but they are still 1000x better than these.It’s like gambling,low volume,unpredicable spikes or unforseen trend reversals.I would rather play black jack,seriously you have better odds there…
Regardless of thrill-level, I am liking the overall volatility of bitcoin. Philisophical discussion about why or if dont matter at this point. Its a commodity product that has some fun potential. If it crashes to zero, so be it.
Medisoft, how was your work on a EA you previously mentioned? Thank you for starting this thread almost a year ago!
basically you might have currencies that are like worth 1million to a dollar so what are those worth, even if backed up by the government. This is the jelly beanie thing, right ? supply and demand ?
I should say : if you’re not comfortable working with it then don’t but im gonna say :
in essence, BTC is not so much a currency as a payment system but the coins itself are traded so as long as theres money to be made there will be money made from trading it. On moments where its better elsewhere volatility on the charts will decrease. Its not regulated so sometimes if you’re fast enough you could sell money to BTC, transfer it over the btc-p2p network to another exchange and get a lot more there
in theory, i never tried that
who will back this up ? every company that has a major interest in it, whats the guarantee the dollar will not crash and bring the whole world down with it ?
lets say 2008 showed that exactly what it guarantees
lets say you get to burnout in a forex account where you could like wake up the next day and have zero left if you’re careless, when trading btc you will always have your tokens who might or might not go up again, as with any stock i suppose that should be completely the same.
but im just gonna say : afaik germany is the only country who has accepted it as an actual currency but in fact in essence it is not : it is a payment system that removes the need for a trusted third party, fast, reliable, and out of the hands of government control.
I once heard some smart dude on bloomberg say traders are actually not a ‘working’ part of the economy and he’s right. As long as they just shovel money back and forth they are not but once they spend (part of) what they are they are, right?
If they dont they’re like old people sitting on old money, if they do, wether they invest in off the shelf cup-noodles to sponsor the local supermarket into being able to pay its employees or make like mr. W.B. and go haywire on global major stuff they are right.
right ?
Even a druglord ruling a colombian cartel could be considered a working part of the economy once the money is laundered and being spent but that metaphor might be taking it too far and i dont want attention from either the legal or the illegal mafia so i was just thinking i read about one or two brokers who do bitcoin already. I think i even might have read that on a post here somewhere so in that case its already being done and thats where you should be looking for inspiration
(edit) i was thinking more on how to look at this, since youre not actually buying a share in a company but its similar to that, maybe you could say buying a bitcoin is buying the right to use the network/system and selling it is selling that right to someone else ?
It has several added values, if people use it right, a merchant could accept payment in bitcoins then sell them for just a fraction more to the next buyer who wants to use BTC as payment system, in the process making even a little more than directly accepting dollars (or whatevers), theres no third parties and its pretty fast (depending on number of confirmations required). I havent heard about errors yet, people losing their money in a transaction (which doesnt mean its not possible im not too technical into it to know that, maybe someone else here might?). The buyer pays the same amount as he would in dollar, no matter the price of the bitcoin for the client it makes no monetary difference (is that good english) but as said, the seller (the owner of a webshop, not the bitcoin seller) could make more profit than just the net on the product sold if he sells those same coins he just received for just a little more to the next buyer requesting them (for whom the actual dollarprice would thus still remain the same)
i read an interesting article not too long ago on coinbaseblog on how its impossible to predict what kind of possibilities a system like this might bring in the next decade. For instance the author, who took the whole as a new technology stated no one predicted things like e-bay coming from the internet at its very birth.
We will find out, theres no reason not to adopt it and trading it, as trading all things brings with it the risk of loss,
sincerely ,
the devil’s advocate =)
no seriously, i believed in it before i made a dollar on mt. gox
another wiseguy on bloomberg once said : these things go up and down
and they do, dont they
although i wish i had believed in it from the start if i started gpu-mining at the very beginning i might just have been a millionaire by now but starting to mine at this point in time even if you get your asics in a few months notice would probably be a risky investment. I have no clue where the count is at but at 21million coins the mining stop.
Thats enough elaboration, good luck on the metatrader quest
i dont know if this would be advertising if so pls remove the linkg but cryptocoincharts.info has a nice view of exactly how many cryptocoins and exchanges you can play on
(edit2) maybe one more post scriptum
i posted this on the mt site a while ago as well but maybe someone here is active in the community, its off topic for here so sorry, mt is a great tool but (i would like a native linux client and)
i have this security concern where someone with local access, a trojan or actual physical access could post a ‘mischievous’ trade with a hi lot burning your whole capital unless you leave the login without password and you type that everytime, even then , considering the amounts of money traded with that particular application i would very much like to see OTP-support (like yubikey) coded into the application itself, removing the need to remember and making absolutely sure no one but the holder can login through the app
i even leave oneclick trading off in case my cat feels like my keyboard is the place to be for the moment and she hits f9 or whatever it is
that said, im seriously gonna wrap this post up
kudos, godspeed and what not happy pipping and safe trading