Bitcoin Forum

Hi,

I've been watching the value of BTC drop and it's dropped to the lowest I've seen it in months. What are the general causes of this and will it drop further? Or, once ASIC finally 'hit' the market, and if BTC gets on the exchange, will it smoothen' and will the price rise back to I'm guessing a rough $120 value?

What if PayPal decides to implement BTC?

I personally think now is the time to buy if you aren't getting into mining.

Thoughts?

Cheers,
jmevz

We all know the extraordinary fundamentals here. If your view is long term don't bother trying to pick a bottom.

paypal will never implement bitcoin.
Bitcoin is the killer of paypal

I opened a buy order at around $50, but I doubt it'll reach that low in the near future

If I had the money to spare, I would seriously invest every penny.

I stated shortly after the 266 bubble that we would hit 60, but I lost faith in that prediction.

In retrospect, I wish I had kept faith and waited to buy at what we're at now, I bought in 117

not to worry, just relax and wait!

I buyed just 1 bitcoin when it was at 14 €, I paid 18 €, I thinked I will never recover my investment, then, I goes exponentional until the 266 $, We just need to trust more on the coin, I will reach lots more than 117. Just be patient and keep confident.

I believe it's going to drop a bit further, maybe to $40 or even $30. When ASICs start hashing many people will want to recoup part of their investment by selling their freshly mined BTC, putting a sell pressure on the market and dropping the price. OTOH, the EU may randomly decide to take money out of people's bank accounts which may lead to new rally driving the price up. Personally, I'm going to wait another couple of weeks before buying in.

If you go to http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zv you will see that the down trend is still very much in play. Buying now is gambling. wait for the trend to turn first, then ride it back up, "the trend is your friend" yes you will miss the bottom if you wait for the trend to form.

http://www.bitcoinity.org/markets is really neat and shows depth.

Watching for that kangaroo tail?

From what I can tell so far, bitcoin doesn't always play by the normal market rules.

Thanks, bitfromit great graph have added it to favorites, pity about the colours though, I can hardly see some of the info on my monitor.

Good coins at lower prices would say do some hedges instead of chasing the tails bottom
5 BTC at 60
5 BTC at 50
5 BTC at 40
Or a variant you can change the numbers based on where you think true price is

You can change it to white "light version" in top right.

"Re: Is Now The Time To Buy?"

Interesting to note whoever is behind these has not panicked, all funds are still in place :

http://bitcoinviews.com/bitcoin-top-10-rich-list-june-2013/

Listed the first three because of annoying ads in above link :

http://blockchain.info/address/1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a (111,111.12458933 BTC)
http://blockchain.info/address/17UUsmejDsjJEtbRcotd289ADp7ZdanH5k (92,764.287339 BTC)
http://blockchain.info/address/1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF (79,957.04211601 BTC)

That's worth a thread label it strong hands or something :)

I really think Silk Road alone holds bitcoin at at least $30. The media hype really helped advertise Silk Road (despite their detest) so I don't believe it could possibly drop below $30.

This post might seem to lead far, but I try to explain the best I can, why I think this time is as good as any for buying Bitcoins ;)
And sorry if the post looks bulky - I'm no native speaker...

I've been watching (and mining) bitcoins since early 2011. And all I can say about the time to buy or sell them is the same I could say about other stuff that is traded at exchanges: you never _know_ when it is the right point of time to buy or sell, because you can never know what happens next and how the market will reflect to news or other changes.
From my point of view bitcoins (and all other cryptocoins) are not yet in the state of currency and have a speculative risk. But one day they might be and that is why people are interested in having them. It is a bit like taking part in a raffle; you spend money for some tickets and hope that will be something worth in the future.
Bitcoins have a great potential for achieving this.
Mtgox is - despite all the troubles that have been and will be - a quite reliable exchange. An exchange is necessary as long as the can't be traded for something else but for money.
Bitcoins have started being mined on CPUs. CPU are quite universal. Even if you have had no computer and had bought one just for CPU mining of Bitcoins it wouldn't have been worthless after the GPU miners came to market and pushed the CPU miners out because they have been more efficient than the CPU miners.
Haveing advanced to GPU mining people had to have a proper graphic card for GPU mining. Less universal than a CPU but still useful for playing games.
The next advance was FPGAs. Quite specialized and not really universal though programmable for some thing.
The last evolutionary step is on its way with ASICS pushing into the market. With ASICS you can do nothing but things they have been made for, e.g. mining Bitcoins (and eventually other crptocoins that use the same algorithms). With each evolutionary step there was an increase of hashing power or at least a significant increase of energy efficiency for mining the Bitcoins. And the more you ascended in the hardware evolution of mining the more you had to put at risk - as the one who developed hardware and as the one who tended to buy specialized hardware. And over time the hashing power grew and grew...
What you can read from the things that happened in the past is, that Bitcoins have become more and more important and people started investing money in mining Bitcoins more efficiently (in terms of the amount per time and the needed energy per Bitcoin). And as the difficulty to mine new Bitcoins increased and people obtained less Bitcoins per hashrate, the need for buying Bitcoins was rising. And this might continue with the lots of ASIC miners pushing in the Bitcoin network. The difficulty will rise and so might the price that is payed at exchanges. But I do not expect that to be in a direct correlation. It has rarely been a direct correlation in the past. But in the end the rising difficulty combined with the broader perception of Bitcoins might be a reason for rising prices in the future. The number of Bitcoins available (at the moment and in total) is limited. If more people are interested in buying them than people in selling them, the price per Bitcoin must rise according to machinery of the market.

I don't want to encourage you to buy Bitcoins saying is is a safe deal and they will rise for sure, etc. There are threats to the Bitcoin network and not only chances. But I wanted to explain why I see a chance for them to rise. If you spend only money you can afford to lose, money you can put to jeopardy, then it seems to be no bad idea to buy them before even more ASIC miners are in the newtork. Geared to long-term profitability it might not be bad to have some Bitcoins in the pocket.

No wait till night, price will go more down.

This man has the right of it. If your looking for a bottom your just going to get frustrated because odds are you will blink and miss it.

If u are able to check in regularly the wait till the trend turns else buy soon and just wait it out.

No. If you don't need new coins immediately then just place a buy order at $32 and another one at $26 and wait.

...you can scarcely buy at a lowest possible rate and sell at a highest possible rate. If you buy at a rate and sell at a higher rate, you will have a benefit. You can for sure place a buy order at 30 USD. But what will you think if the rate doesn't drop that low and instead starts increasing (now, after it has hit the 50 USD, 40 USD or whatever level)?
Just ask yourself: what do you want to accomplish by buying Bitcoins?
If you are going to start a kind of high frequency trading, start whenever you want and try to have some luck ;)
If you are going to invest some money in Bitcoins and want to stay invested in Bitcoins, just buy them, put the to your wallet, backup the wallet and wait...

Only buy if you're willing to take a loss in the short term, I don't see the price hitting 100 again until there is wide spread adoption/mainstream which is impossible when the only exchange is centralized.

Buy in chunks over the course of three months or so.

Back to late 2010/early 2011, after BTC price fell to $0,80ish:

Only buy if you're willing to take a loss in the short term, I don't see the price hitting $1,00 again until there is wide spread adoption/mainstream which is impossible when the only exchange is centralized.

;D

i think the price is steadily going to drop, thats if another bubble is goong to come about soon which i doubt

give it a year or so and it might hike up again

Also the further the crash the higher the possibility an alternate Cryptocurrency could be the leader. I don't see anything really to rival bitcoin but its a possibility.

I think it's really the time to buuuy !!

I bought a btc at 78.60 a few days ago.. Now i feel like i shouldve waited but oh well hopefully itll go up.

buy

I think the price has stabilized at around $69. As soon as funds clear, I'm going to make a large purchase for the long term as I don't think the price will rise as quickly as we've seen.

Howdy. I'm new to forum and I've been doing alot of reading in the last several days. From the posts I've read so far, it looks like a good time to buy a small batch and see where things go. 

I realize the mining aspect of Bitcoin is increasing in difficulty; however, it shouldn't discourage new people to learn about the fundamentals of mining and managing Bitcoin. I'm trying to learn as much as I can and I'm planning to buy a few Bitcoins to explore new opportunities.  :)

Now is the time to buy

If you are thinking about the USD value of BTC, then you are really just calling a rose by another name - you're still buying/selling in USD.  We need more goods and services available to users of BTC, we need more people using BTC to barter. That attaches actual value to BTC, rather than perceived value. Sometimes, it seems like everyone is just interested in how much USD everyone else thinks BTC are worth.

If that still doesn't make sense, how about this: Now is the time to accept BTC as payment and convince everyone else that now is the time to buy BTC :)

It looks like $50 is a possible bottom. I used to be a forex currency investment manager, specializing in technical analysis. If it breaks through $50, it would be running to $32 next. Last drop it couldn't break through the $50 barrier. If it doesn't break 50 this time (pattern called a double bottom), we should see a nice medium to long term upward trend towards $165+.
I've bought 50 BTC here at $67 and I'll buy another 50 if it makes a run on $55.

THIS!  +1!

When I start selling my custom electronics on bitmit, I do not plan to change my prices relative to the dollar, but simply charge in BTC and stick with it.  This would, of course, be much easier if I could buy the parts and equipment I need for a base BTC price, but SOMEBODY has to go first or we'll never be using bitcoin as it's own currency.  I'm tired of it being tied to the USD.  I do realize that this likely means that when the BTC is worth less USD, I will get far more business than when it's worth more USD, but I just have to simply ensure that my profit margin is JUST (barely) high enough to avoid too much loss during the low BTC times.

I wish there was a site like bitmit that ONLY dealt in bitcoins (aside from SR of course), and had systems in place to encourage stability and charging basic BTC prices irrespective to the BTC<->USD rate.  Perhaps by a combination of incentives (like saving fees when BTC is worth less, etc), penalties when changing prices (especially in response to fluctuating BTC <-> USD rates), and systems/software that only allows you to change or update your price every 72 hours or something.

Maybe I'm just wishful thinking, I'd just love to be able to convert all my funds to BTC, and only touch the USD when I have to pay taxes, and even then ONLY convert the amount needed and nothing else.  Currently there are enough services that I could get by almost exclusively on BTC, but the value is so closely tied to the USD (and usually ends up converting to USD at some point of the transaction) it almost feels like mental masturbation to pretend I am really living off of BTC.

We just need a growing market of ballsy bitcoin enthusiasts to take a gamble at creating a stable BTC-based ebay.  Currently, I'd still call bitmit "USD-based" or at the very least, "fiat-based", as though it has the option to accept or pay via BTC, the prices themselves are usually based on a regulated centralized currency.

Am I way off?

 - thettrix

I by BTC !  ;D

I will buy at $53 and $36   ;D
I'm waiting!

I doubt it hits 53..... but i could be wrong.  I think it will stall for a bit, and hopefully go back up.   But if it hits 36 i think we have a lot to worry about as a community.

Alternative currency i think will be the ones this week to watch.

Why we should worry if it hits $36? Bitcoin would be the same, just not strong bulls to support $50 in the short term.

When BTC was $80 I thought it was the perfect time to buy but I was wrong.

I don't know is it the perfect time or not.

Sorry

bitcoin is going down, may be ~0.1 usd

I don't think we have bottomed out just yet. In my opinion we're on a slow trend downwards. If you're really adamant on buying now make sure you hoard them.

YES

I don't know if now is the time to buy or not. People debate whether "now" is the time to buy gold, silver, or AAPL for that matter.

I like what the chap who founded Vanguard Investments said: When you buy stock (or gold, silver, BTC, whatever), you're betting that you're smarter than the guy who sold it to you.

The corollary is that the guy selling it to you thinks he's smarter than you are by getting out of the market "now."

It's all a gamble, but if you can dollar cost average by buying the same dollar amount each week regardless of price, you can ride out the short term fluctuations in the market.

Wait few days more I think price will go down again.

I think its time to buy bitcoins now. Its very cheap right now. In a few days it will rise to again above $100.

Still downtrend !!!!!! Dead Cat Bounce only.....I think  :-* :-* :-*

Looking at the current price for BTC compared to what it was at two weeks ago, wondering if now is the time to buy in? It seems low enough and I think the price should hockey stick in the next week. Anybody care to agree/disagree?

Im done waiting for the bottom and really im in it for the long haul. I plan on loading up just as soon as the verification transaction goes through on my Coinbase Account.

I'm gearing up to buy more.

SEEL YOUR ! BTC

Considering that the last 2 days has seen the biggest uptrend ($10 in 48 hours) since May, I think it's reasonable to think it's on its way back up. I might just have to buy some REloadits and trade for BTC to get in quick

It's always time to buy - and it's never too late  ;)

Don't buy today. It's will go down tomorrow.

You missed the $60 price. Just buy now.

I bought at $140. So, it's the perfect time to buy now.

Yes, it's perfect time.

Yes, you can buy now.

Worsed time to buy IMO. Wati for 84 or wait for 50 then maybe 30

The price is about to move up I think - slowly but surely - we haven't seen it this low since it went to $280 then crashed. We seen a steady climb since then, now another mini crash - now it will climb again. So for $77 - buy a few if you can...

anytime is a good time to buy Bitcoin to be quite honest.

Yes!

Yes any time imo is time to buy

If it goes below $60 then I am gonna snap up as much as I can

Buy whenever it makes a new bottom. that way you'll average your cost of entry. You can't pick the bottom. Nobody can.

I personally think the price is currently affected by mining (the fundamental) becoming unprofitable (especially for late ASIC entrants) and correcting itself. This will change or when the mining will adjust (i.e. less miners) or when bitcoin will be adopted more widely as a currency (and not a store of value).

There is a little chance for the price to grow up because at 80USD a wall of over 4000BTC appears. That's why I think it is OK to wait with purchasing.

just bought on the market at 77.44 already regretting it as its dropped another 2 bucks lol

Traders often put up fake walls and then just tear them down again. Just because there's a wall there now doesn't mean it will be providing resistance in the future.

Still a nice bull trap to ride here. I think this right shoulder will form fully on H4 and we'll see a breakout to the upside. That 80 wall will be partly eaten, partly pulled, and smooth sailing until good exit opportunity in 90-100 range. If we break triple digits, won't be there for long.  8)

https://bitcointalk.org/index.php?topic=61168.20
Mumbles there were bigger walls long ago

Even if it goes down in the next few days I believe in btc and I think it'll go really up a lot in the future.

So buy buy buy :)

I did so :), buying as much as I can with my "extra" money

If you believe in the future of bitcoin and you want bitcoin to succeed, then clearly you want to have as much BTC as possible. You can buy much more BTC now, so why not?

Standard Bollinger Bands model Bitcoin really accurately.  As volitility increases. The price action begins to poke through the Bands.  As this continues, prices begin to collaspe then make a trip to the bottom band.

You just figure out were price is in this cycle.  Then you will know if its buy or sell time.

I agree with these caps. But maybe 84 is too much. I would buy if it reach 81.

Yes, in my opinion, this is a very good time to buy.

I think you can buy now. You will make huge profit.

Yes, good time to buy :)

Below $80 is always profitable for Bitcoin.

Yes, buy now.

I always liked to buy Bitcoin below $100. But now I'm confused about the stability of bitcoin. So, not buying. Watching the activities of market.

I calculated 84, how do u get 81

Not sure if you refer to the 15k wall but if this wall is real @ 80usd it is only exactly 4x bigger than the wall you referred to. So try again.

Wait until price gains upward momentum. Buy after 80.

yes i think now it's a good time to buy

see

SEEL ALL NOW!

About 4 hours ago everyone should have bought

What are your thoughts on Atlantis in relationship to LTC? Does it have the same effect?

Yes, buy now.

Now's not only the time to buy; now is the time to exchange. To cash out.

Get all of your fiat exchanged for real currency as soon as possible; regardless of the current exchange rate.

I'm just praying (using the term ironically of course since I'm a devout athiest) that the exchange rate will stay low until Christmas. That's the next time I expect to have any substantial amount of fiat in my possession and I intend to exchange as much of it as possible (I sell Christmas trees).

By the way, my family's Christmas tree business accepts bitcoin (though nobody has purchased using them yet). Last season was our first season accepting them. We've been around since 1987, google search for Romp Family Christmas Trees and read the articles in the NYT and elsewhere.

Interesting yes It looks very likely that you will get a real good rate come xmas.

Yes based on all the factors my mind can handle I think there's a fair chance that they'll be going for even less at Christmas than they are now. Basically I'm thinking that the state of the mining world's impact on the price and the people switching to fiat to buy Christmas gifts will combine to make for low prices in that time period. Could be wrong. Lots of other factors to consider.

Of course, on a bigger scale, with the right world events, bitcoin could suddenly take off at any moment and soar to 1K USD per BTC, never to drop below 4 figures again. I'm just hoping to get in before it happens.

 I hope you got in yesterday   ;)

Is the perfect time to sell, buy in a few hours.

Good one!

Yes, I bought 5 BTC right now.

It' going up right now. I think you can buy now.

Yes, definity

Yes, You can buy now.

I think he missed the great opportunity.

Yes you can buy now.

Now is 95.

any price under 100 is fine.

time to buy is when everyone says it's time to sell.

Yes you can buy now

I think below $85 was perfect trend to buy BTC.

It is always easy to say that after seeing the price fluctuation...
But hard to guess before  ::)


Now, even if it is under $100, it might be a bad time to buy, because price won't go above 100 eventually

I will suggest you to wait for $80 again.

The price is going really up very soon, if you still waiting, you're going to arrive late.

I would not buy it at this moment, I would wait for it to go down a little. It seems like it always will go down and back up. I would wait till it goes down to around $80 then buy it when you see it going back up a couple dollars around $82.

Now will always be the time to buy ;)

   I say buy at any price with any money you don't need for food/rent/basic necessities. You do realize if you have money in the bank that you have loaned money to the bank and they are playing with it and profiting from it right? Oh yeah, and they lost your money already and now then they took more of it to keep from going bankrupt via taxes. And now they are devaluing your money by issuing more dollars. That's three fronts where you are getting ripped off if you have cash in the bank. If you have wads of hundreds in a coffee can, you are still getting ripped off by quantitative easing.

   Trust me, if we all get behind bitcoin and stay strong, we will all make way more money than if we gamble by trying to buy low and sell high. Buy bitcoin, use your bitcoin to buy whatever you can, and donate to projects you think will help bitcoin catch on.

       

Looking long-term, 100 seems more than reasonable. If you're young, you can afford to take the risk for the possible return.

These prices mostly behave like some kind of random walk. It's mostly about your luck.

Depends how "in" you want to be. If you just want to buy a small amount, then, yes, you should probably wait for a lower price in the near term. But if it's a large amount, and long term as well, you should probably dollar cost average, since you probably "feel" it will go up - eventually.

Also, if you already have some Bitcoin, you will not be as desperate should the price suddenly jump. You won't feel as if you missed the boat. But if you haven't any at all, you might just want to buy a few as a "lottery" type investment. You are betting that some Central Bankers somewhere sometime are going to give somebody's accounts a haircut. Not a bad bet, I'd say.

Yes, you can buy BTC anytime below $100

Buy now – sell never!

You can buy BTC anytime. Because you don't know the future price.

There is really no telling. It could go +-50 usd in a week or less, or remain stable. Lots of factors to consider. I suggest you research it and make an informed decision. It is my belief bit coin is here to stay and will probably stabilize at 100+ per coin in the long term future.

Yes, you can but BTC now it will hit $150 soon.

it climb to 100$ just to expensive

Buy bitcoin and spend it because if you just hold, you may one day wake up noticing no one wants to buy your bitcoins back.

No. I think you wait for another dump.

I think BTC will hit $150 soon..

I think it is a good time to buy now...price will go up

Buy when you need it.
If you wait always for lower price, you may wait forever  ;)

I think is OK to buy now.

Wait for 50 range, thats what i doing

but my crystall ball is broken so i have no idea if good or bad advice

I think we will dip under 70 again in the next two months, but I just bought some yesterday because I keep spending them. Just don't sell them for less than you bought them for. With the way the price has fluctuated this year, it's reasonable to foresee the price going under 70 and over 120 several times before the year is out.

I wouldn't be surprised if we saw $40 again

I agree that over the next few months the price will most likely fluctuate. I always spend my BTC too, so I've never really thought about the long term, but the future of bitcoins is definitely tough to predict.

Bitcoins used to be very accessible. Then they became popular, and were both accessible AND popular for awhile. Now they're still somewhat popular, but accessibility is decreasing, at least in my opinion. I don't buy bitcoins often, but every time that I do, it seems like they're tougher to purchase. The lower accessibility will result in lower popularity, which will probably cause the prices to drop in the long run, in my opinion.

I'm pretty sure I know nothing about economics, and I probably think I know things that are actually completely wrong, so please take my post with a teaspoon of salt :P

I think it is comming on 130, then fall to 100...... after that 200....
(some kind of another financial crysis might help)

thanks for informative post. it'll help me as well as many other to take further steps.

Yes, in my opinion, this is a very good time to buy.

if you mean for "investing", then yes, but by waiting you may spot lower exchane rate

Try buying ASIC units, these will generate BTC.

Much better than buying from exchanges BTC directly if you dont hurry

good advise, but where do you get asics shortly by now ?

Yes, I think it is perfect time to buy.

If you are a day trader you have to wait for dump.

If you can get the ASIC right away, then mining could be lucrative. However, you'll probably have to wait many many months before you actually receive it, hook it up to a mining pool, and start mining bitcoin. At that point, you'll probably be lucky if you ever break even.

Bitcoin is very volatile because it's still in its infancy. A stronger global economy, stable fiat currencies and more miners entering the network could trigger a sell-off in the near future, which in turn will bring down bitcoinUSD. Wait for that dip and then buy.

How big dip?
I waiting few weeks and not big move

I dont expect a dip in price considering latest news:

Avalon getting $200m investment for 20nm ASICs!
https://bitcointalk.org/index.php?topic=268382.0

Maybe very high difficuly will mean lower Bitcoin price as everyone want to get their investment back and thus seling mined coins immediatelly

I agree.

But if you speculate, its not

If you are a short time investor you can buy anytime.

How would I know?

I don't think anyone can say it.

I bought 5 BTC at $94. I think you can buy it now.

It is always time to buy :-)

I believe currently BTC value is dropping, back to $90, then it's a good time to buy

Yes, this is a very good time to buy... or buy ASIC units, these will generate BTC.  ;)

I invested in an ASIC from KNCMiner, shocking investment. We shall see...

Thoughts?

At this point in time, I'll be happy if it simply pays itself off, not expecting too much more due to the difficulty increases etc...

Paypal will never implement bitcoin. Nevereverever.

Thinking long term it is still a great time to buy. Your ROI might be slightly less than if you speculate on the value dipping a little before it starts heading back up... but who cares about ROI.

Get after that NET, and quickly.

To answer the OP's question - Yes.

For anyone else who came in here looking for information, do your own research. No one will know if it's a right time for YOU to buy but YOU. And only if you have at least a basic understanding of the principles behind BTC, short vs long term investing, and high risk/ volatility investments in general.

Read up on here. On Reddit, CoinDesk and TheGenesisBlock.

Not so shocking. It's an alternative way of buying BTC, hopefully with FIAT currency, although you do not know in advance how many coins you will receive. Also, it's good for the blockchain. BTC is awkward enough to buy that I am also considering buying a mining contract, for FIAT, of course. (If it were Winter, I might consider a mining device).

We shall see what the next month or two bring :)

It will be very hard to kill paypal. Paypal is the number one payment processor right now. Very few peoples using bitcoin.

I bought at $120 so I think you can buy now.

The popularity of bitcoin is increasing. I think one day bitcoin will kill paypal.

Every moment peoples buying and selling bitcoin. So, there is no targeted time to buy or sell bitcoin. You can buy anytime.

It is stable now. I think it will go uptrend so, you can buy now.

Buy now, buy tomorrow. These are early days. Despite any downward fluctuations in the short-term, a year from now you'll be seriously thanking yourself.

If you believe in Bitcoin then it is always the time to buy! Although to repeat many others...never spend more than you can afford to lose.

it is allways time to buy
grouth is unavoidable
pandora box has been opened

If you believe in the Bitcoin ecosystem, yes. Don't bother trying to time the market. Long-term, bitcoin will either become big or wither and die. In either case, whether you pay a few tens of dollars more or less for your bitcoins will not matter much.

I agree. OP, if you want to day-trade, a simple forum post won't help you determine when to buy or sell. But if you're thinking long term, the time to buy is the moment you have cash to spare. Speculating in Bitcoin is a moonshot-- in 5 or 10 years it'll either be worth thousands or nothing. So only invest what you can absolutely afford to lose and don't put it off, just do it. 

Once you do buy, don't start watching the price everyday and panicking or counting your eggs before they hatch... expect wild swings! Consider anything in the +/-30% normal for the first few months, then reevaluate a few months down the road.

Also, nice first post.

Yes, you can buy BTC now. I think it will hit $200 again within short time.

I suggest you to cancel your order. It will never hit $50 soon.

Buy at $97 and sell at $99. Don't keep for long time. It may down again.

I think it will jump to around $150 maybe, but not quite $200. Thoughts?

Let the trend be your friend till the bend at the end :D

And when the price bends, sell and sell and send? :D

You right, but it takes so many time to be daytrader

Been watching Bitcoin for a couple of years, I'd say now is good time to buy. The real uptake wave hasn't hit. I think in the future we will look at the $250 spike and laugh at the blip. Don't invest more than you can loose!

Germany news so yes  ;)

It's crept up slightly lately, then down slightly again. Sigh :)

Wait on it  ;)

You can buy anytime because price is somehow stable  :D

Does the bitcoin price generally go up on increasing mining difficulty?  ???

If yes, then I'm guessing the only way for bitcoin is up unless some political moves made by the government or banks blocks its way.

I believe mining difficulty goes up as bitcoin price increase, but now we move from GPU to ASICs so we have wait to see

Now is a good time to buy. Soon the price will be at 180-200 i believe.

If you aim holding for long time then anytime is good time to buy

The recent drop to 60-70 is when you should have bought. You can buy now too, even if it goes down again, it will be back up.

Yeah, should have, could have, didn't. Sucks, but oh well! :)

Hi,

It is generally thought that it is the other way round. A higher BTC price leads to higher hashrate.

Hashrate (difficulty) would drop if price stays at unprofitable levels and the expectations on future valuation are lowered. Not that we are anywhere near that yet because the new asics keep getting more power efficient.

It is always time to buy, the value of bitcoin will surely go up.

Surely?
You can never be sure...


But "likely" yes

With this attitude expect going bankrupt very soon in the future.

Don't be so pessimistic.
You can't go bankrupt, except if the price go to 0. :P

Oh yes you can.
I'm talking overall, you can't go bitcoin bankrupt, wth.

Depends how much % of your total wealth invested in BTC.
Btw I heard that you can expect some major rise in BTC value over next couple of weeks. Real weeks, not BFL weeks  ;D

Heard where?

If the price of BTC will go to 0, you will be probably not able to spend your BTC, so effectively bankrupt

Go bankrupt because your btc is worth nothing.
That's imposible, unless everything you own is in bitcoin.

Paypal will never implement bitcoin is right but killing paypal is not easy.

If you didn't bought at below $100 I think you missed the real opportunity to buy BTC. But I think BTC will rise more than $150, so you can buy now.

It's a great bet, IMHO. For 1 BTC, the most you can lose is about $120, but what you can gain is many times that. Even with 50/50 odds, I'd sure take that bet!

While buy and hold has historically been a good strategy, I would encourage people to hold off if the price suddenly starts doubling every week. Even if the fundamentals are strong, you will get speculative over-shoot and the bubble will pop. This happened May of this year (2013), June 2011, and apparently November 2010.

Any pre buble time is okay I guess.

I'm holding some funds over gox/btce and still hesitate to buy. Some say the value is now overpriced when compared to low volumes traded. Trading volume is as low as when  it was below $30. But, it just keeps going up...

I would like to hold it for a long period of time and buy some shares. What would be the advice of a more experienced: hold on to BTC or invest in some shares?

I guess if someone wants to buy cheap shares it's now or never. Just take a look what's happening with labcoin after a simple tiny pic of a chip was published...

But if you dont sell before the bubble starts, you can enjoy downride before you will be able to sell

If Bitcoin hits another 'bump' and lowers under $100, I would advise you to buy then. It's a good idea too, there maybe a small risk that you may lose out in the future, but its well worth the risk as Bitcoin normally jumps right back up.

Buying 5 BTC x 100$ = 500$, that is the risk for something that one day might be much much more valuable. I'd take that risk.

Agreed.  Are there 1 million people world-wide who would do that?  100,000 people even?  10,000 people?

There aren't 1 million people involved in crypto overall, so no.
500$ risk vs possible one day 5000$ reward if not higher. Who knows, and it all depends on how long you keep it.

I don't know if RIGHT NOW is the time to buy, but it doesn't matter if you're bullish in the long term.

That's true. In the long term it could really pay off. However, I would suggest holding off to see if it hits another bubble and then drops a lot (as I think that's what's going to happen in a the next couple of weeks) then buying at that time. But, it depends on your personal preferences and what type of risk you want to take.

It keeps rising so it might not be a bad idea.

I dont see any significant drop coming and I have been a very good predictor of these types of things. I see bitcoin steadily rising from here on out, no major bubble-burst but just dips. I saw the 2008 NASDAQ drop and predicted it before the pundits did. Told my mom to invest in gold. She kicked herself when it doubled. If you havent bought yet you may well have to buy now or not at all. Thats just my .2 satoshis. ;D

There always be some pull-back or correction I think. We will see lower prices before the end of the year, my 0.2 satoshis :P

Problem is BTC does not work like stocks, forex, etc.


Hard if not impossible to guess i would say.

I'm pretty sure paypal won't accept bitcoin.

Possibly never.

I got information about bitcoin is "it will hit $180 within 1 week". So, I think you can buy it now.

$180 in one week? is it always this volatile? im guessing everyone will sell at that point and it will then crash?

Could be the time it might crash. I think a lot of people are counting on it reaching $200. Although, I don't think that will happen yet.

Wait for it to get cheaper

It is a volatile commodity Bitcoin.  Buy on the dips (there will be many more), not chase on the way up.

and litecoin? i know its not as big as bitcoin. and i dont mine for it. but would it be worth starting? if im right in understanding you cant use block erupters to mine for them either.

Yesterday I bought 5 BTC. So, I think you can buy now. Price will go up this month.

There is not specific time to buy or sell bitcoin. Every single moment peoples buying and selling bitcoin.

Pretty much, the market is still undecided as to just how useful btc really is and therefore we can expect volatility in the market to continue. The infrastructure (in terms of mining, exchanges, stock markets etc) has not developed to the point where its potential is even close to fully exploited. That isn't to say the infrastructure will inevitably develop, of course. For that to happen we'd need to have some big players (amazon, paypal, google etc.) decide that the potential benefits of btc adoption outweigh the risks - and tbh, if I was playing with that kind of money, I'd probably look elsewhere, at least in the near future.

I think you can buy now. The price is stable at this point and I'm sure it will hit $200 within 2 weeks.

I have a feeling that bitcoin will continue to rise especially considering how the difficulty is rising exponentially. The average person will eventually stop mining and just buy or earn bitcoins once the difficulty gets so high.

Not necessarily if the price of asic h/w continues to drop in tandem

Buy it before some big group of investors jump in, then it will be too late.

I think we'll see another drop in price IMO before it hits the $200 mark at any time. Bitcoin needs more acceptance!

If you ask me whether you should buy bitcoins or stay away from it at all I would tell you that the answer to that depends on your own willingness to take a risk.

Paypal will likely not implement bitcoin since bitcoin makes their business model of transfering money pretty much obsolete. I followed the news about that and the ceo of paypal decided that paypal will not try to assimilate bitcoin but work against it as a company. This becomes pretty evident since paypal is suspending accounts of people who were using their service to buy bitcoin mining equipment.

At the same time this ceo invested into BitPay, a service that does pretty much the same as paypal, but using bitcoin to process payments. That shows that someone with a lot of expertise in financial services thinks that it has a real potential in e- commerce.

A possible scenario would be that BitPay could start accepting Fiat using Bitcoin as a financial vehicle to do the transactions in the background. (Since its cheaper and faster than Banks.) In this scenario the 21 million bitcoins could be used to transfer pretty significant amounts of money. This would mean the price would have to go up in order to have enough BTC to cover all these transactions.

If you ask me if you should buy BTC or invest into mining equipment I would clearly suggest that you buy Bitcoins and hold them and I will tell you why:

People are not gonna sell you a miner for less btc than it will likely generate.

Here is a calculator where you can enter the specs of mining hardware and compare the profit mining to the profit just buying btc: http://btcinvest.net/bitcoin-mining-profit-calculator.php (http://btcinvest.net/bitcoin-mining-profit-calculator.php)

On top of that the difficulty and hashrate are increasing at an insane rate and its pretty much impossible to foresee how this will go on. Maybe 600GH/s won't do much for you in 3 month or so.

I hope this helps people to make the decision that is right for them and remember to always invest/ gamble responsibly  ;)

You have 0% chance to buy again with $50. I'll suggest you to buy now to make profit. Bitcoin will hit $200 soon.

Bitcoin will hit $200 soon. So, I think you can buy now.

I'll suggest you buy BTC from btce and sell on mtgox. You will be rich within few days.

This is why your still a newbie.

0% means no chance at all? Ever look at the 2007/2008 chart of say GBP/JPY? I doubt it. Enough said.

Don't listen to him, he's just envious that he and the rest of the bitcoin universe didn't discover this before, go ALL IN  ;D

*just kidding, dont do it*  ;)

Oh really? If Satoshi dumps a few hundred thousand, you will have the chance to buy with 1$ again.

Or if mtgox gets hacked again and fake btc gets sold to drive price down like before :)

I don't see that happening again in the future.

You made this thread on July 06. So, if you didn't bought time you missed great profit. Yes, you also can buy now.

As far I know BTC will hit $200 within few days. So, today is the best time to buy it.

Yes, you can buy now. I'm sure it will hit $180 on next week.

Bitcoin has gone down consistently it will go back up the question is when, if your willing to wait then buy if not then do not

I'm hoping for the price to drop a bit more. It has gone down quite a bit since last week, so I hope to buy it a bit cheaper than it is now :)

Paypal will never implement Bitcoin. Paypal will never give bitcoin any opportunity to be popular. They will try to destroy it.

You missed the perfect time.

It was the perfect time to buy bitcoin below $100. But I think it will rise more. so, you can buy now.

The future value of bitcoin is impossible to predict.

Best strategy is to buy now and sell never.

LOL, never though this strategy could work. Good luck  ;)

Your strategy to never use the strategy won't work either :) good luck.

There's a lot of talk about BTC heading to USD$200. Reminds me of earlier this year when there was a lot of talk about Gold reaching USD$2000 an ounce.

I say sell and short the market  :D

Where do u short

You just sell your coins and hope for a lower entry point than you sold for...

https://quebecbitcoin.com/forum/viewtopic.php?f=46&t=41

If you buy now, I would say you would need to hold for 3-5 months to see a decent rise.

I see it hitting 160 in the next month or so.

Easy money, but only if your right  ;D

Yeah, just wait till someone tries to short it, and see it fall to $60/BTC again.

I wouldnt mind buying at $60, it would be nice change

Ok, so I guess: "do not buy now if you want to take profit"

Just like the stock market - you never know! :)

What would life be without gamble?

So true, but keep the gamble under control  ;)