Bitcoin in WM . Experiment. 15.12.2017 bought 0.98 USD, 0.00005 VTS . Getting rich live. - page 7
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The closing algorithm is still being thought through and developed.
The robot is supposed to know everything. So it's not a refinement. A semi-automatic machine, in a word).
As you can see, bitcoin has become more unpredictable. It was going up so steadily, and then it went downhill. Started having surprises. That's a wake-up call. Bitcoin should be dumped. Some analysts are even predicting bitcoin to fall to zero. Right now, I'm trying to move to another symbol, the SP500. For about 11 months the SP500 has been going up steadily. SP500 is not going to fall to zero. That's 100%.
For now, the framework is like this. How long will the power of momentum last?
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US hedge fund Pantera Bitcoin Fund brought its investors a 25,000% return, with most of the money earned in 2017 on the back of a huge rise in bitcoin. Pantera Bitcoin is a model of foresight - since its inception in 2013, the fund has been buying and saving bitcoins. In recent days, however, the cryptocurrency has seen a marked decline.
In dollar terms, Pantera Bitcoin Fund has made $2.1 billion in profits over four years. As the New York Times notes, the hedge fund has not had to make much of an effort. The venture systematically bought bitcoins, and they rose in value.
The figure of 25,000% seems phenomenal, especially when you consider that last year the world's most successful hedge fund brought its investors 148%. Given Pantera Bitcoin's announcement, the fund has been bringing investors 250% year-on-year since 2013.
The company made its announcement even before bitcoin hit an all-time high of $20,000 and then collapsed by a third. According to the NYT, the fund presented its calculations at a time when the cryptocurrency was worth $15,500. Bitcoin later dipped to $12,000 before rising back above $14,000.
Pantera Bitcoin founder and former Goldman Sachs employee Dan Morehead admits that creating a cryptocurrency hedge fund in 2013 was not easy. Back then, bitcoin was considered a marginal development, with only online drug trading venues carrying out transactions.
"The hardest part was just deciding to do it because everyone thought the idea was crazy," Morehead revealed.
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I really liked the commentary on this article.
If someone made a profit on something - it means someone simultaneously made a loss on the same amount....
and now turn on the waiter, waiting for next year's $6000 bitcoin
100500 will definitely be by the end of next year )
Maybe by the end of January too.
Why do some analysts say the value of bitcoin is zero???? Because it is very difficult to estimate it. However, bitcoin has one parameter that other instruments do not have. It is the cost of producing it. That is the minimum price below which an asset becomes unprofitable or unprofitable. That is why I think the extraction cost is the lower limit of bitcoin value corridor and the upper limit is formed from demand, market saturation, supply etc. IMHO.
Why do some analysts say the value of bitcoin is zero???? Because it is very difficult to estimate it. However, bitcoin has one parameter that other instruments do not have. It is the cost of producing it. That is the minimum price below which an asset becomes unprofitable or unprofitable. That is why I think the extraction cost is the lower limit of bitcoin value corridor and the upper limit is formed from demand, market saturation, supply etc. IMHO.
The cost of mining it will make sense if someone needs it as a means of payment or as a commodity. But right now it's only needed as a bubble to make money on, nobody needs it by itself. When bitcoin enters into normal circulation and one cannot live without it, then the cost of production will make sense.