700 seems to be the number of the day, but its still early in the US.
My apocalyptic streak (a little doom in your view never hurt anyone) makes me feel that 450 is a genuine possibility, but even I’m skeptical it’ll drop that far today. I also think a bounce back long term (in the next few months) is inevitable, but that 850 might be out of reach today.
The price is going to drop further in the next few days/weeks…which seems more like an opportunity than a problem.
Haha, well, whomever this is, they’ve done a nice job. A whale himself, perhaps? Anyway, it’ll be interesting to see what happens in the next few days.
I’m in a similar boat - albeit still deciding how many/how I’m gonna buy. I have an older (but not out dated) computer I keep a worker on; its not profitable at all, but its more for the symbolism.
I see FTC going up steadily (as far as cryptos go) over the next 6 months, even as BTC and LTC fluctuate. Then again, I don’t pretend to be an expert - I’m still learning. :)
[quote name=“Horizon” post=“40467” timestamp=“1386321277”]
I think it’s way too early to peg gains and losses of crypto to gains and losses of fiat. If anything has lost value pegged to crypto it’s Gold, not the reserve currencies. I still think during this shift period from fiat to crypto investors will not see crypto as an alternative to fiat, they’ll see it as alternative to Gold as a storage of value. FTC’s price has nothing to do with the devaluation of fiat as countries desperately compete to raise exports to save their economies by offering the cheapest option. FTC’s price is pegged to BTC, which is viewed as ‘digital Gold.’
[/quote]
The comparison to gold is very interesting and the point here, more so than many might think, is an apt one: since banks and governments has begun moving away from the tangible to fueling growth with debt (obviously accumulating debt to finanace projects is ancient, but nothing like we’ve seen since the late 70s/early 80s), ‘gold’ has lost significant value.
‘Gold’, far different than the piece you can actually hold, because the piece you actually hold hasn’t been wrung through the securities department of huge banks 50+ times. Similar points can be made about many commodities; my favorite anecdote comes out of Michael Lewis’ book Boomerang, about the financial crisis. One of the more paranoid (realistic?) investors he interviewed kept physical gold bars and hundreds of thousands of dollars in physical nickels* (metal = a bit under $0.07) in a vault, largely due to his belief that buying it electronically is largely worthless. While worthless may be a strong word, I’d certainly say a case could be made that artificial ‘gold’ is being created by banks at a higher rate than BTC are being mined.
I’ll stop before getting into this: [url=http://www.zerohedge.com/news/2013-11-25/how-gold-price-manipulated-during-london-fix]http://www.zerohedge.com/news/2013-11-25/how-gold-price-manipulated-during-london-fix[/url]
*He, incidentally, was heavily questioned at multiple levels for trying to buy X amount of a specific form of currency.
Haha, yea, that’s more or less what I was trying to say. Sorry if I wasn’t clear.
Hi Everybody,
I’m interested in buying $20 of FTC via Paypal. I understand that the use of Paypal is contentious here (justifiably so), but I can’t shake the feeling that its better to just buy something directly, rather than through layers - I feel like I’d lose % unnecessarily. If anybody is interested, or can correct me, please let me know.
Thanks
Alex
My thoughts exactly. China’s move here is kind of a case for cryptos in and of itself.
I’m glad (maybe the wrong word) of the hours I keep for times like this (its 5:15 am in New York). What will be even better is seeing the legacy media response to BTC’s price drop - $300 in the past hour. I’m not particularly worried, and I’m sure most here aren’t either, but the implications for the Chinese consumer should definitely be kept in mind.
Anybody in China want to weigh in?
Hi All!
Longtime lurker on several sites, only really getting into things recently (ever since I left my job :/). But I’m pretty optimistic! Anyway, my job was actually in marketing…well, marketing consumer goods to retail chains, but many skills carry over to internet marketing.
About me: I live in New York, I’m 23, I have a BS in Biology, Rudimentary coding experience, and am a strong writer (ignore this right now, I’m being informal/in a rush). I’m looking to get more involved in the community here, which I feel is far more vibrant than other currently cryptos. Let me know if I can be of any help.
Alex