Bitcoin Forum

Please for the love of god have some balls and demand a proper price for your coins. I will not sell at these difficulty/price pairs. neither should you. It just takes some time to even out, and the more people that hold long the faster the true value will surface. just like it was .10 cents and now its 15 bucks. It will be 150 times bigger inevitably, then 150 times bigger after that. Can you wait and not eat your 500,000 dollar pizza early?

Don't worry, I only plan to undercut you by $0.01.

Oh :D Thank Goodness,
I thought we were screwed for a second....

i have seen people use difficulty divided by 25000 as a way to estimate a non-market value for btc.  currently, that would make each btc worth about $55.  i think i will hold onto mine for the time being.

But, what if I'm already in profit territory and make money at the current exchange rate?

A high value with a low volume is meaningless. It doesn't help if BitCoins are at $1,500 each if selling 500 of them will crash the market. Volume is needed just as much as price if you want a credible currency.

I'd be ok with that, I'll just put an order for $1500 and wait until it's executed at that price then
I wouldn't mind waiting a couple of days to get my $750,000

I agree, but I don't think we run the risk of a 500 a day volume no matter what so I dont know what your talking about in that sense. It has already been stated that miners don't control enough of the market to effect it let alone crash it, I just suggest waiting until the rest of the market evens out to get max value. Or you could sell now, w/e.

If you want to argue that miners should hold their coins because they'll be worth more in the future, that's fine. But if you want to argue that miners should hold their coins so that they'll be worth more in the future, see my reply. You did say: "the more people that hold long the faster the true value will surface" In fact, I think that's completely false. The higher the volume, the faster the true value will surface.

tell this to the guys in california gold rush, ~150 years ago.

value will increase when you can buy more than drugs with BTC. not when "the difficulty goes up!" like a bunch of crazies say. "hey boy, i got this rock i found 100' in the earth. wanna buy it? its worth 100x the price of 'surface rocks'". see? doesnt really work out.

I just mentioned this in another post, so I'll just reword it.... keep the bid/ask price high = profit from mining

It seems a bit of a paradox: for BTC to be worth something people need to spend their BitCoins.  Scarcity driving up price only works when there's demand for the scarce thing. 

It's not so much holding on to your BitCoins as it is demanding to be paid in them (and being willing to pay others with them).  The BitCoin economy has to flourish or you've got a wallet full of random bits that may as well be raw disk space.

That's a ridiculous valuation, probably pulled out of his ass from nowhere. At $55, you would get 100% ROI in a month, that sounds like a HYIP scam, not a real investment. Even the current $15 valuation is pretty high, miners can pay off their rigs in less than 4 month if difficulty stay at the current level (which it might, since we haven't seen a lot of growth in computing power lately)

Who is going to buy a $100 bitcoin?  I have trouble believing people were buying $30 bitcoins.  Bitcoins as a currency are worthless right now.  The only people buying them are speculators and maybe a sprinkle of drug users.  Speculators don't buy high and the drug trade online would really have to explode to support the number of bitcoins people want to sell.

Well why wouldn't they buy bitcoins for 100$ each? If 1 BTC = 100$ then on more goods the users can spend their BTC on.

If they were really to stabilize at $100, obviously few people would be purchasing or selling whole BTC for their small purchases or daily needs.

You'd probably buy 10 bitcents, or 25 bitcents etc.. Just like you buy an ounce of gold, or a 40 gram silver bullion.

You don't go and buy the whole troy ounce or even a kilogram if you're an average person.

I think the bitcoins will go up....but the speed and how much would depend on what you can buy.

right now there are consumers accepting bitcoins.....but mostly tech guys....bitcoins will go up when you can
buy stuff from places like walmart.com....i do like that Newegg is starting to take them.....

I think bitcoins needs to get out there....the only way to find info on it is on the forums.....

there is no site with bitcoin news....consumers can advertise...etc.........

untill we get mainstream i dont think the price will get very high





199knw79vwoq8jmSuCBjuTH2sWuA9UqVnG

i just googled about newegg and bitcoin and to be honest.. i am not liking what i am seeing.
it appears a 3rd party is in the middle of any transaction, probably taking a small cut out of it (free for now it seems),
and then making sure your goods arrive via mail.

if one wants to say newegg is accepting bitcoins that is really stretching the truth of it.
here is the domain where i found the advertisement and here is the whois.. not giving me a lot of faith in it when they hide like this:

Registrant
    Private Whois Service
    Private Whois Service  f7o9xo64ddd5c86160f3@oqjij874d9300d54bd95.privatewhois.net
    *******PLEASE DO NOT SEND LETTERS******
    ****Contact the owner by email only****

    c/o bitspend.com
    N4892 Nassau
    Bahamas

Why would people dealing in anonymous currency not publish their contact details, and register the business in a tax haven? LOL

Seriously guys... You want it anonymous and decentralized, or you don't.

straw man argument. one can have it both ways. when wanting to be anonymous it is there for you when you need it.

when wanting to buy LEGAL goods from a seller it is only natural you want some type of recourse if your goods
never arrive besides some half ass website and a lousy email address going to the same domain.

and just how exactly is buying goods online ever supposed to be anonymous when you have to send your mailing
address to the seller? So you give up any chance of being anonymous and allow all the risk to be on your side
of the table. Isn't that just a bit dumb?

Here is an example of a real business accepting bitcoins.

http://www.memorydealers.com/v4-about.html (search page for bitcoins).
http://data.memorydealers.com/Photos/icontact_bitcoin_email.jpg

i understand the whole think of being anonymous but how would ever buy anything online.....address phone number.....if you cant buy anything that isnt shipped to....that would restrict bitcoins beyond belief
and i have already seen sites that are issuing actual cards.... well thats not very anonymous either

on the newegg i apologize i had just seen it on the merchant list.....more feees boo.....


i like the whole no regulations on bitcoins more than the anonymous part of it....

and i think Bitcoin is going to have to get out there more.... whether its miners telling people....merchants or the news stations....
if all we can do is trade back and forth for other currency then it wont be worth anything

I understand the value of bitcoins is not stable at all.
Sorry if this is total spam, but I'm trying to sell my 2002 ford focus for bitcoin.
This thread seemed like it had a lot of people in it who had a decent amount and the marketplace is a joke.
If anyone is interested send me a PM. sorry for the spam, I won't do the whole mining board just this topic because
 it was discussing value and I think people in the market think I'm going to want something outrageous like 200 BTC for the car, and I'm not..

We can go over it again
Miners holding bitcoins long isn't going to affect the market as much as you think. Even if everyone sold all of their coins they made every day that is only 7200 btc a day on average. The volume at mt gox even after their situation is like 30,000 a day. And most people don't just sell their mining coins immediately. Basically the market would continue on as normal, and grow like normal, and you would have your btc on the sidelines ready to hop in at a prime time.
Im not implying that we will create "scarcity" by holding. Or that we will damage the volume to the point of no return. Because we wont. Im implying that we should maybe wait for the community to grow before selling our coins. Since we seem to have a correlation between the amount of people using bitcoins and the price.  Actually, the volume goes up usually before a price goes up (at least in stocks). The price goes up because the volume sorts itself out into people that want to go long, among other reasons, and thats when the supply dries a little. They create a price floor, and it happens all over again. The news releases, financials, etc. are what really effect it. But if it is smooth sailing you can look at the technical indicators and watch the natural flow. I dont see bitcoin announcing bankruptcy, or inside trading, or a loss at all, oh wait its impossible to get a physically detrimental situation with bitcoin because it is not one thing. The only thing that can somewhat F*** us out of no where is legislation.