Bitcoin Forum

so miners are optimists about the future prices and they save BTC (and create more BTC, pump the offers again)or they are willing to tolerate to have lower margins because something is something, and sell at lower prices
so will the price rally up again on september ?

If people do this again, they must love risk more than anything.

I think Bitcoin will only be usable after the speculation maniacs have lost their money. Speculation is nice, mania isn't. I'd very much like using 1 USD Bitcoins again, as those are decently stable, unlike something based on a supercritical exponential price bubble.

Micro-Burst? Hardcore Bust? I hope it's the latter, because the current madness is not good for the real Bitcoin economy, which is still tiny and fragile. Having to cope with massive factors in price in a matter of days will not help!

Miners don't have to be that optimistic to keep running.  They just had to be overly optimistic when they got their rigs up.

Tolerate low margins?  What choice do they have?  Stop mining and have no margins?  Whine about it?

Why would there be a rally? You can't do anything with them.

How about we start using them to buy stuff.

This will increase their value. Other than that, we are just hoping the price goes up for no reason.

Exact same choice as those who buy BTC speculatively.  They can sell their investment and move on.  In fact, since even 6990s don't drop 50% in 3 days their out is nowhere near as painful.

What I can not understand is who in there right mind would pay over $20 dollars for this currency at this point in time? $30 dollars is just plain rediculous.

Knowing that you can buy only very little with bitcoin, and also the big fact of knowing that most of bitcoin is owned by a handful of people who could dump at any time,  you have to be crazy to pay more than $7.00 a coin.

Until bitcoin gets much more distributed, it is pretty much in the hands of a handful of people who own most of the bitcoin. I have heard of plenty who own over 100,000.

I just bought $350 worth of coins at $28 each thinking it was going to keep going higher but then it fell. It is a sad day for me.  :-[

july 29th, 2070. the man from the future said so.

If you can afford any risk. You could buy $2,000 worth now and quickly earn back your money.

Give it time friend, I sure hope you didn't sell yet. Especially seeing how networks like Mt. Gox are at roughly $13/BTC. Just give it time, BTC will rebound and you'll make your investment back. Remember, for the people who buy and sell this is the time when people are going to be gobbling up coins now knowing that it is capable of reaching highs of $30-$40/BTC. Once they start gobbling it back up, demand is going to be on the rise once more and the price will be driven back up!

Even if you just consider the difficulty that has risen dramatically in only a few weeks, or the people who will continue to swarm this network as they hear of other people's success stories or realize the potential of the Bitcoin beyond simply making a quick buck off it's exchange.

Believe me, it'll rebound, and it wont take long. Hang in there friend. =)

BTC's value is going to show a classic Dead Cat Bounce in the next few days.  It will climb to $20, maybe even a bit above that.  When it does, everyone who bought in at the current price of $13 is going to sell for a quick buck.  Everyone who already has BTC will dump them because 'it's high enough to be good enough' to recover costs.  BTC's price will then fall well below $10 by the end of the week.

Beware the Dead Cat Bounce.

WHEN WAS THIS? :O

tuesday, at 3:42pm UTC

clearly we just cleared a double reverse head and shoulders teacup pattern in the market,
exactly 65.234 hours later the market will rally again.


J/k
who knows, but the market seems to be recovering from the bottom already.
Give it time, the market is still very thin, any volitility will cause massive swings.

I respectfully disagree.  While at first glance this make seem like a teacup at the logarithmic terminus, the off-peak margin boundaries indicate that the "random" fluctuations of what we're seeing are actually a small cross section of a large and predictable bullflop scheme, and because of this, investors would be wise to place their buys at the dog end of each mode.