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Not sure. everyone was front running everyone else who wanted to get in before the halving. 

and that was enough to send the price rocketing. people may not sell knowing there is a halving on the horizon. 

and post halving bitcoin will be being created at a lower rate than fiat anyway. 

going to take some very large moves up and down to find it’s new higher low. 

post halving we could see some long drawn out price falls unless we see some other big news in the space. but given the demand for exposure that many conventional investors will have I could see bitcoin becoming much more mainstream as a value store. 

gold is signalling that it’s expected we will get some heavy forced money printing inflation in the next 2 years. 

 

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Shoot me down, but a few members seems a bit obsessed with this thread.  There are a lot of threads on HOUSEpricecrash and other things to do in general than aggressively defend Bitcoin (e.g. see fami

They could certainly put various things in place to try and stop but I just don't seem them doing it. Obviously they could make dealing, trading, holding or using bitcoin punishable with 10 years

Bitcoin Cash can and will scale on chain. The technology advance within the next decade will allow it to happen with ease and always remain ahead of demand. What Core have done to Bitcoin is criminal

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Google trends is not showing the interest we had last time, yet the price is rising. 

those buying now are already aware of bitcoin.

we have not reached the mania stage where lots of newbies pile in, and that’s when it climbs a wall. 

at the moment we have moved from oversold to probably about right price wise. 

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15 minutes ago, jiltedjen said:

at the moment we have moved from oversold to probably about right price wise. 

There is no such thing with bitcoin. It has no fundamental value. With a property, you could determine current value by examining costs (interest rates, expenses) vs future values of rents and decide on a reasonable price to pay.

With a company, you can do roughly similar.

Not so with bitcoin. It is simply speculative demand.

So saying it was oversold is, not to be nasty, absolute bunkum. The price is simply the price. It could be $0 as well as $200000 and either would make as much sense as the other within a day.

I only own it in the hope that other people will keep speculating the price up. We'll never actually use it for the intended purpose, an electronic cash.

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1 hour ago, jiltedjen said:

Google trends is not showing the interest we had last time, yet the price is rising. 

those buying now are already aware of bitcoin.

we have not reached the mania stage where lots of newbies pile in, and that’s when it climbs a wall. 

at the moment we have moved from oversold to probably about right price wise. 

Just good old supply and demand right now, only 2% of Bitcoin is liquid and I suspect all those accumulating otc have exhausted the sellers, leaving just exchanges. I have put a few messages out I’m willing to sell otc now at $140k! No takers yet! 

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11 hours ago, goldbug9999 said:

Bitcoin will always do the unexpected in the short term, that's why the most successful investment strategies are the ones that make the least assumptions about short term movements.

"It's not a bug, it's a feature!"

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4 hours ago, UberMonkeySmallAndChunky said:

With mining costs though? miner values them due to their costs of production.  So if people want bitcoin they have to pay a reasonable price?

And why do they want bitcoin? Miners only exist because people want it, not the other way round.

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1 hour ago, Will! said:

Indeed.  Miners set the cost of Bitcoin.

Well the cost of new Bitcoin yes. But as supply is so limited as it is such hard money new supply is cost as old supply is locked away.

can dig more gold, pump more oil, grow more tulips, build more houses and print more fiat, issue more bonds or shares.  But 21 million Bitcoin is it. No other form of asset is harder. This is the key for me. True hard money store of value. Like Jiltedjen’s fav saying. Digital Gold 2.0.

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2 minutes ago, markyh said:

Past £60k now @longgone for the 2013/14 stash. Only £40k more to be back to later December early Jan 2017/18. We are long due a 40% pullback now, but little resistance left above £13k so god knows when. 

will you be selling up waiting then buying back in partly ?

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6 minutes ago, markyh said:

But 21 million Bitcoin is it. No other form of asset is harder. This is the key for me. True hard money store of value. Like Jiltedjen’s fav saying. Digital Gold 2.0.

Well, that's not quite true.

42 million bitcoin. It forked, so people can divide their money between 42 million of those units if they want. And of course, it has forked again and again and also many others sprung up. So there are now infinite number of virtual coins available. 

If everyone want to continue to buy just one of those coins, ok, but not sure why they would.

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1 hour ago, dugsbody said:

Well, that's not quite true.

42 million bitcoin. It forked, so people can divide their money between 42 million of those units if they want. And of course, it has forked again and again and also many others sprung up. So there are now infinite number of virtual coins available. 

If everyone want to continue to buy just one of those coins, ok, but not sure why they would.

Like how gold is worthless as everyone puts their money into the much more numerous aluminium? 

gold is valuable as it’s a value store, there are rarer metals even more hard-wearing, but not as valuable as gold just because gold is the value store. 

Its why alts are worthless and bitcoin is gold 2.0

and why bitcoin can keep going up in value regardless of weather it’s used as digital cash. But to me it seems it was never really about being digital cash, it’s structured and always has been as a value store from day 1. 

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13 minutes ago, jiltedjen said:

Like how gold is worthless as everyone puts their money into the much more nunerous aluminium? 

gold is valuable as it’s a value store, there are rarer metals even more hard-wearing, but not as valuable as gold just because gold is the value store. 

Mira why alts are worthless and bitcoin is gold 2.0

and why bitcoin can keep going up in value regardless of weather it’s used as digital cash. But to me it seems it was never really about being digital cash, it’s structured and always has been as a value store from day 1. 

The point is, it is sentiment, and tech trends go easily out of fashion while gold has millennia of history backing up the sentiment. 

Bitcoin could easily become worthless in under two years if enough critical mass swung to some newer incarnation that did the job better. The concept is not finite in supply.

But imagine being the group of programmers at Goldmans who designed and released it under that fake Satoshi character. Laughing all the way to the ... err .. bank.

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If bankers killed themselves off by making bitcoin then fine if a few get mega rich.

at the moment houses are the value store, and private banks can print as much money as they like via lending. All value flows to private banks. 

bitcoin is not controlled by anyone, it’s distributed. it can’t be killed. the cat is out of the bag. Once it’s invented it’s inevitable  it would go the way it’s going. 

gold should be worth a hell of a lot more, but as there are no audits, and no-one takes delivery it’s stopped acting like a value store like it has for thousands of years. it’s just paper contracts. bitcoin is a better gold, can’t be printed, true limited supply and it’s an open ledger, it’s more transparent than anything before, even fiat. 

yet open to anyone as it has fractions. 

the thing with bitcoin is it will change a lot of things in the world, houses stop being a value store for a start, this will take years, but once it gains true traction it will happen quickly.

and in the race to the bottom with fiat, I actually think governments quite like bitcoin, it will speed up the destruction of fiat and bring back inflation. 

People get bogged down with alts as they have exposure to rubbish, or feel like they have missed out. But it’s fogging their vision. When eventually they may be forced to buy in many years later for a tiny fraction of a whole bitcoin just to preserve wealth. 

i have said for ages it’s moronic to not even have a small sensible allocation than bitcoin in a varied portfolio just to be prudent. 

Even those who hate bitcoin on this thread have some exposure, which is sensible. 

holding altcoins was always a bad idea. any value in altcoins just finds its way back into bitcoin. 

Edited by jiltedjen
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  • 417 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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