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I used to ask others in last few months, at what point would you be comfortable buying? Is it 20K, 15K, 10K, 5K, 1K, 500$, 100$, or 50$? or less? See, the sto

I used to ask others in last few months, at what point would you be comfortable buying? Is it 20K, 15K, 10K, 5K, 1K, 500$, 100$, or 50$? or less? See, the story changes, what was nice months ago now is an extremely high risk. Myself, I probably woudln't buy unless it's under 100$. Even that is questionable. Reason being, blockchain is a pipedream and BTC is a dinosaur within that dream. What future BTC has but speculation?

nugi 9y ago
Why does price of a bitcoin matter? You can buy the equivalent of $50usd in bitcoin, and enjoy many if not all of the 'opprotunities'.
- amenod 9y ago
  This. Who cares if it's $100, $10000 or $0.10? What matters is the price it will have, and yes, that is all just speculation, unless you have a crystal ball that actually works. What is great/weird/... (select according to your opinion) is that the gains were huge in the last year.
- rainbowmverse 9y ago
  There are better things to spend on if you can only afford $50. For example, food and clothes. Buying Bitcoin is no better than buying a scratchoff lottery ticket until the price stabilizes. At least the ticket pays for part of someone's college education.
HiroshiSan 9y ago
Why is blockchain a pipedream?
- flatline 9y ago
  People keep thinking it’s going to revolutionize entire industries when really it’s a highly limited and inefficient database technology that no one who isn’t trying to make a buck would suggest using for data storage unless you have the very particular constraints of something like bitcoin. There’s lots of mature, versatile database options out there: Postgres, SQLite, BerkeleyDB, and countless other NoSQL and CQRS solutions. Blockchain does one thing well, its immutability and intractability are not well suited to many applications.
  - islanderfun 9y ago
    People "improperly" using block chain tech to replace traditional database storage doesn't make the tech a pipedream.
  - watty 9y ago
    It's like "machine learning" and every other buzzword. People expect "machine learning" to just solve all the problems in every industry. It's great tech but it has limited use cases.
  - amenod 9y ago
    You are comparing apples to... potatoes? The whole point of blockchain is that it is immutable and intractable. It doesn't try to be a DB, except maybe in some abstract sense. Whether it will revolutionaze industries or not remains to be seen, but dismissing blockchain as an inefficient DB is simply misguided.
notheguyouthink 9y ago
Out of curiosity, why is blockchain a pipe dream? Am I missing something? My answer to your question is: I'd buy at any of those prices. Just never on an upswing. This is because I believe in the technology, but the very nature of it means it's volatile - so buying on an upswing is just going to hurt you. There's always the risk of not knowing where the upswing is, ie this downswing might not be the real downswing - but nevertheless I believe my point stands. Note though that I don't view these coins as value holders. I'm not a fan of the idea, so far at least, I vastly prefer transaction coins and coins that are a means to a feature, like storage coins. BTC is not that interesting to me, despite it's popularity, because just being a store of value isn't a big enough selling point to me. Note that I'm not saying a store of value and/or BTC isn't inherently valuable, I just dislike a store of value because anything can be a store of value. So if the public decided tomorrow to use another store of value, BTC would be worthless. Unlike a coin that actually does something, like Filecoin, where the value in the coin will be derived from the usefulness of the coin. It seems less arbitrary, to me at least.
deleted 9y ago
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empath75 9y ago
I think sub $5k is a reasonable reentry though I still expect it to go down from there. My theory is this: I think the last time bitcoin had reasonable organic growth was when it was around $300-500 post Gox. The reward halved so you’d naturally expect the price to increase from there, so let’s say $800-$1200 is reasonable to be generous. Now you’ve got a bunch more infrastructure around it and more awareness, so double it or triple it from there— so $1500-$6000 or so seems like a plausible range. I suspect the price in the near future is going to be on the low end of that and stay there for a while.

nugi 9y ago

Why does price of a bitcoin matter? You can buy the equivalent of $50usd in bitcoin, and enjoy many if not all of the 'opprotunities'.

amenod 9y ago
This. Who cares if it's $100, $10000 or $0.10? What matters is the price it will have, and yes, that is all just speculation, unless you have a crystal ball that actually works. What is great/weird/... (select according to your opinion) is that the gains were huge in the last year.
rainbowmverse 9y ago
There are better things to spend on if you can only afford $50. For example, food and clothes. Buying Bitcoin is no better than buying a scratchoff lottery ticket until the price stabilizes. At least the ticket pays for part of someone's college education.

HiroshiSan 9y ago

Why is blockchain a pipedream?

flatline 9y ago
People keep thinking it’s going to revolutionize entire industries when really it’s a highly limited and inefficient database technology that no one who isn’t trying to make a buck would suggest using for data storage unless you have the very particular constraints of something like bitcoin. There’s lots of mature, versatile database options out there: Postgres, SQLite, BerkeleyDB, and countless other NoSQL and CQRS solutions. Blockchain does one thing well, its immutability and intractability are not well suited to many applications.
- islanderfun 9y ago
  People "improperly" using block chain tech to replace traditional database storage doesn't make the tech a pipedream.
- watty 9y ago
  It's like "machine learning" and every other buzzword. People expect "machine learning" to just solve all the problems in every industry. It's great tech but it has limited use cases.
- amenod 9y ago
  You are comparing apples to... potatoes? The whole point of blockchain is that it is immutable and intractable. It doesn't try to be a DB, except maybe in some abstract sense. Whether it will revolutionaze industries or not remains to be seen, but dismissing blockchain as an inefficient DB is simply misguided.

notheguyouthink 9y ago

Out of curiosity, why is blockchain a pipe dream? Am I missing something? My answer to your question is: I'd buy at any of those prices. Just never on an upswing. This is because I believe in the technology, but the very nature of it means it's volatile - so buying on an upswing is just going to hurt you. There's always the risk of not knowing where the upswing is, ie this downswing might not be the real downswing - but nevertheless I believe my point stands. Note though that I don't view these coins as value holders. I'm not a fan of the idea, so far at least, I vastly prefer transaction coins and coins that are a means to a feature, like storage coins. BTC is not that interesting to me, despite it's popularity, because just being a store of value isn't a big enough selling point to me. Note that I'm not saying a store of value and/or BTC isn't inherently valuable, I just dislike a store of value because anything can be a store of value. So if the public decided tomorrow to use another store of value, BTC would be worthless. Unlike a coin that actually does something, like Filecoin, where the value in the coin will be derived from the usefulness of the coin. It seems less arbitrary, to me at least.

deleted 9y ago

[deleted]

empath75 9y ago

I think sub $5k is a reasonable reentry though I still expect it to go down from there. My theory is this: I think the last time bitcoin had reasonable organic growth was when it was around $300-500 post Gox. The reward halved so you’d naturally expect the price to increase from there, so let’s say $800-$1200 is reasonable to be generous. Now you’ve got a bunch more infrastructure around it and more awareness, so double it or triple it from there— so $1500-$6000 or so seems like a plausible range. I suspect the price in the near future is going to be on the low end of that and stay there for a while.