Bitcoin - Part 2

Status
Not open for further replies.
Since it's been pretty quiet here, I thought I'd post a link to an Economist article on all of our favorite crypto-currency:

http://www.economist.com/news/business-and-finance/21661404-spat-between-developers-may-split-digital-currency-forking-hell?fsrc=scn/tw/te/bl/ed/splitcoin

You see the same sort of arguments in the Linux community, currently, where the hard-line of FOSS ideologues both heap abuse on those who are "too sheeple" to use Linux and also resist every attempt to take steps that would make it more accessible to the common user.

I still don't really think bitcoin itself has much of a future, but if nothing else it's an interesting test case for what a future implementation of such a technology might be like.
 
psionl0 said:
So you are posting these prices in response to a year old post? In that case you are well behind the times.

The price halved between August last year and January this year. Since then it has hovered between $200 and $300. https://bitcoinwisdom.com/markets/bitstamp/btcusd
Click to expand...

Of course when I predicted it would end up between $150 and $300 no one believed me but I have been proven 100% correct.
 
wrs said:
Of course when I predicted it would end up between $150 and $300 no one believed me but I have been proven 100% correct.
Click to expand...
I remember you predicting that $150 would be the natural price that bitcoin settles at but I don't remember the "between $150 and $300" part.
 
Belz... said:
Just trying to keep you honest, which frankly isn't easy.
Click to expand...

I have been completely honest on this thread. You were the one pushing for dates way back and yet you pressed me for some date specific nonsense but it didn't really matter as I repeatedly explained to you.

here I called the top.

Before that you began harassing me about my call that it would fall to between $500 and $150.

Here is where psionl0 completely states my prediction correctly and is in disbelief and yet that is exactly what has played out, try denying that. I never wanted to place a date specific on it but I did and I was right and the real issue is expressed by you here because after you harassed me, I reiterated a date and a range and I was correct, the bottom in Dec was almost midway between 150 and 500. Eventually it hit $152 and now it's stuck way below $500.

You can't get the sour grape taste out of your mouth almost two years later.
 
Last edited:
wrs said:
I have been completely honest on this thread.
Click to expand...

Yes, we all know about you 'Calling' that at some point in the future BTC would drop to within a wide range of values for an instant on one exchange. Congratulations. That's like predicting that there will be snow this winter.
 
wrs said:
Here is where psionl0 completely states my prediction correctly and is in disbelief and yet that is exactly what has played out, try denying that.
Click to expand...
Ahh! So it's not $150-$300, it's $150-$500 which is a less specific prediction (I knew you hadn't mentioned $300).

Of course, your prediction that the natural long term price level would be $150 never eventuated (so far).
 
psionl0 said:
Ahh! So it's not $150-$300, it's $150-$500 which is a less specific prediction (I knew you hadn't mentioned $300).

Of course, your prediction that the natural long term price level would be $150 never eventuated (so far).
Click to expand...

Right, I forgot myself since I haven't checked the thread in a while but you note I said that it would not get back over $500 once it reached this final level. I think we will get to $150 eventually. It made a new low there a while back and I think it's headed there again, it's just going to take more time.
 
Belz... said:
Yes, we all know about you 'Calling' that at some point in the future BTC would drop to within a wide range of values for an instant on one exchange. Congratulations. That's like predicting that there will be snow this winter.
Click to expand...

I was very precise on the prediction back in Dec. 2013. It was correct and furthermore it was made at a time when bitfarce was trading at $900-1000 and no one expected that big a drop that fast.
 
wrs said:
Right, I forgot myself since I haven't checked the thread in a while but you note I said that it would not get back over $500 once it reached this final level. I think we will get to $150 eventually. It made a new low there a while back and I think it's headed there again, it's just going to take more time.
Click to expand...
Let's be realistic here. Nobody can predict the long term price of bitcoin. Its price could dip well below $100 (or even collapse entirely) for the foreseeable future or it could have a resurgence. Nobody knows. All we can say is that its price seems inversely related to confidence in national currencies.

Activities by central banks and governments around the world have currently curtailed its practical use as a currency (regardless of its price volatility). That is not enough to sound the death knell for crypto-currencies.

For the moment, the main use of blockchain technology seems to be in distributed ledger systems (like ripple) but even that is uncertain.
 
Last edited:
Status
Not open for further replies.

Back
Top Bottom