Bitcoin

Would be interesting to read a response to TNaickers concerns

TNaicker wrote: Can anyone explain to me where the demand is coming from to drive the price up ? And those that are demanding the "item", what are they using the "item" for ? Is its applicability so widespread to warrant the demand ?

I still believe....Bubble, bubble...must be trouble...

At present there is hardly any demand. Less than 1% of the population have got involved, with only around 16 million wallets in existence. At present I believe it is the wealthy ensuring they get a slice of the pie.
There are at present over 1000 other crypto urgencies which are used for various I. t. Applications to drive business use cases...... all of these measure their value against Bitcoin. One mostly uses Bitcoin to but ethereal, waves, link etc.

In mid-december CME, the largest Futures house in Boston and one of the biggest in usa will be listing Btc futures. Billions of US dollars will flow into what is a limited resource.

South Korea at present are the biggest buyers of Bitcoin, followed by Japan (where it is legal tender)....

The total gold supply is valued at roughly $7 trillion.... btc current worth is around $135 billion... WHEN this finite 'resource' gets just 10% of that investment it will be well over $20k....

In summary, digital currencies are the future....just accept this and get involved.

Google buying properties with Bitcoin, try cars, jewelry etc..... It is already commonplace.

No bubble... No trouble....just huge opportunity.

@Magi - many thanks for reply - maybe it's the conservative accountant in me that cannot see any value in it...

Most bubbles arise when there is an imbalance in the A=O+L equation and I can see this in cryto-currencies

Good luck to those that got in early and are making great theoretical gains

TNaicker wrote: @Magi - many thanks for reply - maybe it's the conservative accountant in me that cannot see any value in it...

Most bubbles arise when there is an imbalance in the A=O+L equation and I can see this in cryto-currencies

Good luck to those that got in early and are making great theoretical gains

I take it you meant 'unrealized gains'? Just earlier this week I helped two CA's buy their first BTC...and I said to my wife (yup I got married recently ABC'ers) "When accountants start buying it must be a market top"

@ tNaicker, even at $8,100 per coin it is still early. Dont wait until it reaches $200,000.

$9,000 this morning.


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Mac wrote: $9,000 this morning.


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$9642 / R162 400 this morning. :ohmy: :ohmy: :ohmy:

Magi wrote:

TNaicker wrote: @Magi - many thanks for reply - maybe it's the conservative accountant in me that cannot see any value in it...

Most bubbles arise when there is an imbalance in the A=O+L equation and I can see this in cryto-currencies

Good luck to those that got in early and are making great theoretical gains

I take it you meant 'unrealized gains'? Just earlier this week I helped two CA's buy their first BTC...and I said to my wife (yup I got married recently ABC'ers) "When accountants start buying it must be a market top"

How does one realise the "unrealised" gains ?

$10,000 yesterday

$11,000 now


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Mac wrote: $11,000 now


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So how does one realise the gain in the price and see an increase in bank balance ? Until it is realised, it is a theoretical gain

To my knowledge, you can only realise the gain by selling the coin to some-one willing to buy in at current prices and there is a limit to persons or entities that have the resources to do so resulting in a limit to price increase as demand cannot be sustained...

Good luck to those that got in early and are able to realise their gains by finding some-one to take the coin off their hands at current prices...

I will be the first to admit that the chap that does site development was probably the first guru
Much the same as i was with betfair many years ago

Yes i missed the boat and the entry level is now to high

I have always believed that the principal that if something sounds too good to be true normally is

I will leave it at that ........

Good punting or investing