psionl0
Skeptical about skeptics
Well ... none that you have ever bothered to read anyway.
However, I have given the reasons why they are completely different many times and have no intention of repeating myself again.
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However, I have given the reasons why they are completely different many times and have no intention of repeating myself again.
That's not a surprise. Neither does it surprise me that you don't link to your previous articles containing these "reasons".
psionl0
Skeptical about skeptics
I would but even if you were incline to read any of the posts, you have filled this thread with so many copies of ancient posts that searching has become too difficult.
If you sell or sold futures at that price you will make a profit. I am talking 95% odds now with a new 3 hour signal just confirming. Just take 500 greenbacks and be grateful for my help.
It's difficult because the material containing rational arguments from you doesn't exist, and searching for it is pointless.
psionl0
Skeptical about skeptics
Price at time of prediction: $11,880So now it is a waiting game. Place your bets and predictions folks. I reckon it will be less that $1,000 by the end of February, and less than $100 by the end of October.
Current Price: $10,429
psionl0
Skeptical about skeptics
No you didn't. You created a strawman argument again.
PartSkeptic
Illuminator
Totally admit to being wrong. I had no idea of the market forces behind cyptos. So many people are milking this for all it's worth. It is not a typical bubble despite being the worse bubble of all.
Interesting to see the monster writhing and flailing about. The stock price is it's heartbeat. Up, down, down, up, sideways...
I see many "experts" pushing bitcoin while others sit not knowing what it is all about. The naysayers have no traction yet. Yet!
Why are your posts without content? What strawman argument? What is that supposed to mean? Nothing, I imagine.
psionl0
Skeptical about skeptics
It's good that you didn't try to weasel out of your prediction. And you were a lot less wrong than Samson (who did a LOT of weaseling).
To be charitable, the price was in free fall at the time you made your prediction and the price continued to plummet for another 3 weeks. For a while, $1,000 seemed a conservative prediction.
However, as usual, bitcoin defied the "experts" and staged a recovery. It lingers at an unsteady $10,000 for now but nobody knows which way the price will go in the longer term any more than my pet rock does.
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That's why the question of the source of bitcoin's value is very important. It stands at about half its peak, and has been there for some time. It is earning no income for its owners, so holding it is not an efficient use of spare cash. The only way it will earn a substantial profit is if it becomes the object of massive renewed speculation. Can we be confident that will happen? I don't think so. But perhaps your pet rock has other ideas.It's good that you didn't try to weasel out of your prediction. And you were a lot less wrong than Samson (who did a LOT of weaseling).
To be charitable, the price was in free fall at the time you made your prediction and the price continued to plummet for another 3 weeks. For a while, $1,000 seemed a conservative prediction.
However, as usual, bitcoin defied the "experts" and staged a recovery. It lingers at an unsteady $10,000 for now but nobody knows which way the price will go in the longer term any more than my pet rock does.
PartSkeptic
Illuminator
It's good that you didn't try to weasel out of your prediction. And you were a lot less wrong than Samson (who did a LOT of weaseling).
To be charitable, the price was in free fall at the time you made your prediction and the price continued to plummet for another 3 weeks. For a while, $1,000 seemed a conservative prediction.
However, as usual, bitcoin defied the "experts" and staged a recovery. It lingers at an unsteady $10,000 for now but nobody knows which way the price will go in the longer term any more than my pet rock does.
Firstly - thanks.
Secondly, my pet rock says says that long term the price will sink to the bottom.
PartSkeptic
Illuminator
The insanity of consumers knows no bounds. Psion10 - Did you buy your pet rock from Nordstrom? Think it has any value now?
psionl0
Skeptical about skeptics
Why? We already know everything that is necessary to know.
Something has "value" if it can be sold at a price that price depends on the demand for it. The higher the demand, the higher the price and vice versa.
There is no rational basis for telling why something might only attract a low price and something else might attract a high price. There is also no way of predicting if something will be traded for a long period of time or if it will experience one brief price peak then fade into obscurity.
We can come up with partial theories such as "greater fool", "utility", "ascetics", "prestige" etc but none will give a reliable prediction. To do that you would have to know the minds of everybody who might or might not get involved in something and such Vulcan mind-meld powers don't exist.
psionl0
Skeptical about skeptics
I hope you realize that this outburst doesn't assist the arguments against bitcoin.
Actually the rock just appeared at my home one day and now it won't leave my garden.
The truth be told, I don't even have a magic 8-ball. However, I have written a program that generates random magic 8-ball answers when you type in a question.
Roger Ramjets
Philosopher
Straw man alert! I never said that increased processing power would change the rate of Bitcoin production (though it does in the short term).
When did I say it wasn't? But creating a fiat currency is just a wee bit harder...
Actually there is - it's called fundamentals.
What is the underlying asset behind Bitcoin, a bunch of paranoid libertarians who don't trust fiat currency? The madness of crowds may be difficult to predict, but not impossible.
That is utterly absurd reasoning. You seem to think that "demand" is the only source of "value"; that a thing has a "price" only because there are people willing to pay that price, but no more fundamental principle is involved. You could not be more wrong.
Let's say that something commands a price of $19,600, but a mere few months before, its price was only a few dollars. Where has the price increase come from? Solely the expectation that it will go up in the future, as it has done in the recent past. Such movements are self generating, they come from nothing, or from "inflation" of random fluctuations, which can whoosh tiny objects up to vast sizes; and like all such things (the entire universe may be one of these things) they will sooner or later return to nothing.
Matters would be different if cryptos had started to earn large revenue because people were using them to make payments, and were willing to pay fees for this service, as they willingly pay for bank transfers or postal orders. Is something like that the source of crypto value? I think not.
Then it will go back to nothing when the music stops. Don't be left holding the parcel then. When will that happen? I don't know, because nobody can know. The fall in value has been significant, down by around half; but it is not in free fall, and is holding up better than might have been anticipated. Is this because of affection and esteem in which cryptos are held by the alt Right? I don't know, but it may be. If so, then these Libertarian gunslingers can protect BTC for only so long before they too will run out of resources.
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