you make good points. its very reasonable to ask why BTC would continue an uptrend. my opinion is that there is an expectation for it to increase in price.. leading to a continual uptrend from people wanting to buy before it 'goes higher'.
i also think it is possible BTC will morph into something in which BTC can actually be used; something that we cant even imagine right now. Possibly BTC may simply become 'storage' for value.
in all, the only reason im invested is to make more money than i put in. i dont care too much about the reasons why the price is increasing.
The greater fool theory states a person will pay a price that seems "foolishly" high because that person has the rational expectation that the item can be resold to a "greater fool" later for more than he paid.
In 1825, a magazine called 'The Quarterly Review' wrote an article stating, "What can be more palpably absurd than the prospect held out of locomotives traveling twice as fast as stagecoaches?"
1. They lacked the vision to see technological progress
2. In some form or another, i bet the people behind The Quarterly Review had interests in stagecoaches and horses. Simply put, they would lose out if trains became popular.
I believe the majority of anti-BTC articles online are propaganda from sources which would suffer greatly if BTC continues to grow.
i truly believe this. Investing is all about wanting to sell what we own for more than we bought. in addition, there is a very powerful force at work in BTC called fear buying.
many people fear the price will keep increasing and so they buy. Remember, only three months ago, BTC had a low of $1,800. who would have thought it would hit $6,000 a few days ago? In the same manner, i fully expect in a couple months to say, "Remember, only three months ago, BTC had a low of $6,000 who would have thought it would hit $10,000 a few days ago? "
i also think it is possible BTC will morph into something in which BTC can actually be used; something that we cant even imagine right now. Possibly BTC may simply become 'storage' for value.
in all, the only reason im invested is to make more money than i put in. i dont care too much about the reasons why the price is increasing.
The greater fool theory states a person will pay a price that seems "foolishly" high because that person has the rational expectation that the item can be resold to a "greater fool" later for more than he paid.
In 1825, a magazine called 'The Quarterly Review' wrote an article stating, "What can be more palpably absurd than the prospect held out of locomotives traveling twice as fast as stagecoaches?"
1. They lacked the vision to see technological progress
2. In some form or another, i bet the people behind The Quarterly Review had interests in stagecoaches and horses. Simply put, they would lose out if trains became popular.
I believe the majority of anti-BTC articles online are propaganda from sources which would suffer greatly if BTC continues to grow.
i truly believe this. Investing is all about wanting to sell what we own for more than we bought. in addition, there is a very powerful force at work in BTC called fear buying.
many people fear the price will keep increasing and so they buy. Remember, only three months ago, BTC had a low of $1,800. who would have thought it would hit $6,000 a few days ago? In the same manner, i fully expect in a couple months to say, "Remember, only three months ago, BTC had a low of $6,000 who would have thought it would hit $10,000 a few days ago? "
1
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http://investorshangout.com/Joeys-Investment-Board-91611/
Invite Only
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
Disclaimer:
As used herein, the terms "You" and "Your" shall mean you, individually, the reader, and each other party on whose behalf you may use the contained information at any time.
All references to "My", "I", and “The writer of the above post” shall refer to the creator of the username Joey68.
Do NOT invest unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges.
There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. I assume no responsibility for your trading and investment results. You should NOT rely on the information in the above post to make any decision or take any action.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are OPINION and NOT fact and are for entertainment purposes only. Do your own research and make your own decisions based on your own conclusions.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are NOT advice, and are NOT designed to substitute the expertise and judgment of a professional. It is your responsibility to seek investment advice during all stages of your investments. It is your responsibility to evaluate the accuracy, completeness and usefulness of the information in the above post.
I am NOT a professional.
I do NOT work for you.
My posts are NOT investment advice. I am not paid to post.
There is no correlation between the number of posts I write per day and your assumed success of a company.
It is NOT my responsibility to inform you of my own personal investment decisions.
It is NOT my responsibility to inform you when it is time for you to buy, hold, and/or sell a position.
I have no control over, and am not responsible for the actions of others who copy, store, edit, change, prepare any derivative work of or alter in any way any of the content provided in my posts.
Errors and Omissions expected. The writer of the above post accepts no liability or responsibility for any errors or omissions contained in the above post or contained within this Disclaimer.
The writer of the above post shall NOT accept any liability for the accuracy or completeness of the information contained in the above post, for any reliance placed by any person on the information contained in the above post, or for any damage or loss, however caused, in connection with the use or reliance on any information contained in the above post.
The above post may contain links to websites owned and operated by third parties. These links are provided for informational purposes only and are NOT endorsed by the writer of the above post. The writer of the above post has no control over the contents of any linked website and bears no responsibility for the accuracy, legality, or content of the external site or for that of subsequent links.
YOU ACCESS ALL LINKS ENTIRELY AT YOUR OWN RISK.
The writer of the above post makes no warranties or representations, express or implied about such linked websites, the third parties they are owned and operated by, or the information contained on these websites.
The writer of the above post accepts no liability for any damage or loss, however caused, in connection with the use of or reliance on any information, material, products, or services contained on or accessed through any such linked websites.
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
