Bitcoin - Might go back to where it belongs to - Stop 410. Short

Bitcoin / U.S. dollarBitstamp

Description

⋅ Dec 15, 2014 10:44 AM

I am probably missing the concept and could be wrong as to the long term existence of Bitcoin.

Purely from a price dynamic perspective, Bitcoin exhibit the price pattern than Gold a while back..

Unless Bitcoin breaks above 410, it is subject to a large move down.

Comments

EthereumTradingForumFounder

⋅ Dec 15, 2014 2:59 PM

Bitcoin is a great utility other than "store of value" (e.g. payment rails, remittance, etc).
I highly recommend watching this guy's video to see how the price could play out:
youtube.com/watch?v=g2nXgK34HIM
worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html

YaKa

⋅ Dec 15, 2014 3:17 PM

Hi Token,
I guess you are a bitcoin Ayatollah:)
Thank you for sharing, the pricing modelling is complex. I can't see how it can beat the models for currencies or gold that are more tangible and are often obsolete.

I still can't see the real benefit. Unless you tell me you can create a parallel economy which does not trigger tax impact (which will quickly attract authorities interest).

I think as long as it went up, people were excited. if you have a lot people buying this as mean of payment and you send it 40% down, they will lose interest...

Most people can't bear the idea of having their wealth changing with the equity market (which proved it goes up over time)... Not sure how that will work over time.

But again, you are probably an expert. I could very well be missing the concept (beyond the pricing model which can't be better than other models as previously mentioned).

My post was just about price dynamics though and is still valid as long as prices stay below 410... beyond 410, useful or not, bitcoin can go to 1 million as did the tulips.