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Offline zonda

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Where will the low be?
« on: November 01, 2014, 03:04:15 PM »

Simple question, after this blood bath, where do you guys see low and us rebounding back up?

Thanks

Offline Rune

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Re: Where will the low be?
« Reply #1 on: November 01, 2014, 03:08:44 PM »
Well, I hope it will be at 28 million. I guess it could go to basically anything because there seems to be a sizeable demographic of chinese investors who simply cannot accept paid delegates. In the long run the competitive advantage that self-funding through paid delegates give us will outweigh any temporary loss, though.

busygin

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Re: Where will the low be?
« Reply #2 on: November 01, 2014, 03:22:02 PM »
The biggest risk is not what's happening to BTSX but BTC. If BTC goes to 100's (or lower), we will be back to arguing whether crypto has any "intrinsic value" at all and why it's different from tulip bulbs. We might be able to hold BTC/BTS(X) at some support level close to the current price, but USD/BTS(X) goes much lower I think.

Offline Rune

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Re: Where will the low be?
« Reply #3 on: November 01, 2014, 03:32:43 PM »
The biggest risk is not what's happening to BTSX but BTC. If BTC goes to 100's (or lower), we will be back to arguing whether crypto has any "intrinsic value" at all and why it's different from tulip bulbs. We might be able to hold BTC/BTS(X) at some support level close to the current price, but USD/BTS(X) goes much lower I think.

That discussion is long over. The mainstream media has already decided that "blockchain tech has lots of value", but bitcoin doesn't necessarily have any. I think that a "stable" bitcoin (bitUSD) is exactly the kind of stuff that ordinary people will likely understand HAS tremendous value, especially since they'll attribute bitcoins death to "not being backed by anything".

"It's like cash with no chargebacks, middlemen, identification or hidden fees, but you can send it instantly over the internet to anyone". This marketing pitch has always worked at getting attention and having people understand its value proposition instantly. With bitcoin my experience is that average people react positively to the cash metaphor, then balk when they realize it swings in value, after which they decide that it's not "a real currency" and it's all just a ponzi.

I think the demise of bitcoin will be a great advantage for us, because those people who understand that the blockchain is an insanely powerful invention will be looking very actively for its next big incarnation.

Offline inarizushi

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Re: Where will the low be?
« Reply #4 on: November 01, 2014, 03:53:06 PM »
The biggest risk is not what's happening to BTSX but BTC. If BTC goes to 100's (or lower), we will be back to arguing whether crypto has any "intrinsic value" at all and why it's different from tulip bulbs. We might be able to hold BTC/BTS(X) at some support level close to the current price, but USD/BTS(X) goes much lower I think.

That discussion is long over. The mainstream media has already decided that "blockchain tech has lots of value", but bitcoin doesn't necessarily have any. I think that a "stable" bitcoin (bitUSD) is exactly the kind of stuff that ordinary people will likely understand HAS tremendous value, especially since they'll attribute bitcoins death to "not being backed by anything".

"It's like cash with no chargebacks, middlemen, identification or hidden fees, but you can send it instantly over the internet to anyone". This marketing pitch has always worked at getting attention and having people understand its value proposition instantly. With bitcoin my experience is that average people react positively to the cash metaphor, then balk when they realize it swings in value, after which they decide that it's not "a real currency" and it's all just a ponzi.

I think the demise of bitcoin will be a great advantage for us, because those people who understand that the blockchain is an insanely powerful invention will be looking very actively for its next big incarnation.

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Offline Empirical1.1

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Re: Where will the low be?
« Reply #5 on: November 01, 2014, 04:07:54 PM »
It is unlikely to be lower than $25 million. I will probably buy more if it gets to there.

As uncompetitive as an undefined dilution DAC is from a Darwinian POV as well as for current centralisation, development stage & market mindset reasons. The product and talent are just too good. One focused simple BitShares is also a big improvement.

So while I campaigned vociferously against this model (See my posts from Oct 3rd onward.) and also reluctantly sold some BTSX for the first time ever at a $50 million + CAP when I realised developer focus could shift to a competitor https://bitsharestalk.org/index.php?topic=10240.msg134442#msg134442

$25 million would be just a ridiculously low valuation for this revolutionary product that will be in demand all around the world in huge numbers in a few years.
« Last Edit: November 01, 2014, 04:11:07 PM by Empirical1.1 »

 

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