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old Bitcoin will fall

palomino
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IMG:https://i49.tinypic.com/166myrl.jpg


My prediction: unemployed cunts or profit sharks will hold onto bitcoins hoping it will rise even more and then it will suddenly fall. For example, because someone will get scared, will sell all of his shares, bitcoins, whatever, people will follow and suddenly lots of them will sell their assets at once. That will cause the price to fall down quicker than you can say "Holy shit" and the people whom I've mentioned before (unemployed cunts or profit sharks) will bear huge losses. Especially if they are still buying bitcoins in hopes of it rising even more.

old Re: Bitcoin will fall

oxytamine
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Deflation as a brake on the economy - it would not happen with BitCoin. It is a model with feedback. Look. First, everyone has bitcoins, and everyone knows that they will gradually become more expensive (growth + loss purses). When the course is outstripping the growth of the economy, there is a correction when the rate is undervalued - reverse correction happens. Imagine that you have 100 bitcoins. And you know that with the current pace of economic growth you will have 110 soon. Of course it makes no sense to invest in a business that will give you 105, but it's very worthwhile when return is 120. Rate of deflation affects the rate of economic growth. If the exchange rate increases, and for the year BitCoin grows by 200 percent, they can't open a new business. Because only a profitable drug houses can return such amount of money. The economy is shrinking. And the BitCoin is growing. Such economic results in swings that want to stabilize. It's actually pretty cool. Deposit rate will be the same at all (not like now in the U.S. +2%, in Greece +10%, but in Greece it happens once in 10 years). BitCoin takes on regulation of the refinancing rate (this is something like the speed with which the emission state influences on the economy). And the transition to BitCoin is likely to accompany upsurge periods and crises. But in the end BitCoin wins.

Now go to hell.

old Re: Bitcoin will fall

palomino
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@user oxytamine: Stay mad that you bought it at $200.

It's been rising way too high for way too long. People will get scared and will sell their shit. You know what happens next. More assets = lower price.

EDIT: Oh fuck
IMG:https://i46.tinypic.com/15g7aqt.jpg


Oh fuck x2
IMG:https://i46.tinypic.com/2zno5fa.jpg

old Re: Bitcoin will fall

oxytamine
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Seems like you didn't read my post up there. What is deflation? The problem: all prices are constantly falling. You come into the store and today loaf of bread costs 1 bitcoin and tomorrow 0.5, 0.1 the next day and so on. You can't just stupidly print the price. You can't declare it.

It will be treated very simply. Let's introduce "consumer index" - Macbook + 10 loaves of break + ton of milk + 5 pairs of shoes. Then you'll take prices from Apple, bread factory and so on. That will lead all other prices to the price of the basket I described.

A cellphone will not cost 3 bitcoins, but 16% of the monthly consumer basket price of the basket in bitcoins. It will continue to oscillate. But. Comparing the prices will be as easy as it is now and they will be stable or even more stable. This index can be updated even once per second. And the prices of goods will always be stable. And bitcoin cost will be calculated on day of purchase. That's it.

old Re: Bitcoin will fall

palomino
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Just that the problem with bitcoins is that they are useless. The only things you can buy with them at least now are illegal drugs on silkroad and TF2 hats on warehouse (is their bitcoin shop still alive?).
Besides, the fact that they might rise in price still won't stop half of reddit from an hero'ing.

old Re: Bitcoin will fall

panteraxox
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the reason its a bubble is the fact that bit-coin doesn't have an legitimate market except maybe silk-road those are the people who cant buy anything therefore freezing all trade. they stock up and maybe try to sell their coins the day b4 the market crashes to where it was before. everything else is currency trading where day traders (speculator faggots) and bankster pigs gamble/stock up imaginary stuff and hype up the fake market to gain even more profit. capitalism at its best.

solution : use global currency with an expiration date where the currency gets recycled as soon as a trade occurs.

old Re: Bitcoin will fall

DannyDeth
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Take advantage of the stupid capitalists: buy and sell coins in small amounts at the smallest of raises and falls. This is a high speed process and will minimize losses if the "currency" suddenly falls in value dramatically.

old Re: Bitcoin will fall

palomino
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user panteraxox has written
capitalism at its best.

Capitalism = free market. Not gambling with imaginary stuff. Educate yourself.

@user DannyDeth: But it's not the stupid capitalists. It's unemployed soccer moms and basement-dwelling neckbeards that caused the crash. Most likely. Your plan requires a high level of co-operation. That's impossible.

old Re: Bitcoin will fall

DannyDeth
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By the way, Bitcoins shouldn't hold value at all. They will never fall permanently in value despite never having any real value in the first place. Any falls are temporary, and overall the coins will consistently rise in value in the long term. You should look at these drops as good times to buy.

old Re: Bitcoin will fall

Uglynator
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user palomino has written
user panteraxox has written
capitalism at its best.

Capitalism = free market. Not gambling with imaginary stuff. Educate yourself.


Uh, what? So you say Bitcoin is imaginary stuff, but Credit Cards are real? And what's with the value of "real" money? It's basicly just a piece of cotton with some ink on it. It doesn't have any value, until we use it as money.

old Re: Bitcoin will fall

palomino
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@user Uglynator: @user oxytamine: Go to your nearest grocery store and buy a can of soda for bitcoins. You can't? There you go.
Virtual scrap metal in Team Fortress 2 is a currency. Can you buy real stuff with it? No.

A currency becomes real when you can buy a hot dog with it.

old Re: Bitcoin will fall

Uglynator
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user palomino has written
@user Uglynator: @user oxytamine: Go to your nearest grocery store and buy a can of soda for bitcoins. You can't? There you go.
Virtual scrap metal in Team Fortress 2 is a currency. Can you buy real stuff with it? No.

A currency becomes real when you can buy a hot dog with it.


Go to the USA and try to buy a Hot Dog with Euros. You can't? That's because Euros have no real value in the USA.

old Re: Bitcoin will fall

palomino
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@user Uglynator: If you really take everything literally like that you must have problems socializing, I'm sorry for you.

Name one country that accepts bitcoins for day-to-day transactions, like in grocery stores.

old Re: Bitcoin will fall

Uglynator
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user palomino has written
Name one country that accepts bitcoins for day-to-day transactions, like in grocery stores.


You don't get it. If I want to buy something with euros in the US, I have to exchange the currencies. You can do the same with Bitcoins.

user palomino has written
If you really take everything literally like that you must have problems socializing, I'm sorry for you.


Stop judging people based on their behavior on the internet.

old Re: Bitcoin will fall

palomino
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user Uglynator has written
Stop judging people based on their behavior


Uhu.

user Uglynator has written
You don't get it. If I want to buy something with euros in the US, I have to exchange the currencies. You can do the same with Bitcoins.

Euros are accepted in more than 30 countries. US dollars are accepted in at least two (a number of shops in Russia accept USD, far from all though). Bitcoins are accepted in 0 countries.
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