Bitcoin Forum

I think so Because when the price is low it means the whales are buying up coins that they can turn around and sell at a higher price You can't buy 5000 BTC to resell but you can make some money with the whales

Price is still falling, wait.

http://bitcoincharts.com/charts/mtgoxEUR#rg60zigDailyztgSzm1g10zm2g21zxzi1gMACDzv

I just meant like this period of time not like this exact moment

I think people should buy bitcoins and altcoins as a gift That is the best Christmas present this year

It all depends if people will have goods to buy with BTC. IF not i think that BTC will going to fall more and more.

Well, isn't that obvious. Always buy in a bear market, but will it ever become a bull market again?

HAHAHAHAHAHAHAHAHAHAHA!!!

I can't.  My sides.

I'll be more than happy to eat crow if I'm wrong, but you, my friend, are delusional if you think that's a realistic expectation.

it may go to $700 soon again

"Bull" and "bear" markets last a long time and have major corrections along the way.  It all depends whether you think there is a future here in BTC.  Yes, now is a BETTER time to buy than when it was at $1k!  But you can't tell the future.  Scale in bit by bit.

Gyft lets you buy anything on amazon with bitcoins

What caused the price of bitcoin to drop? I assume it will bounce back to 1k levels?

China has banned the selling of any goods and services for BTC. They are huge economy and that has shaken the market of BTC. 

I don't understand why did they ban it, haven't they been making national reserves in bitcoin  ???

They want the price to go down

And all we have to do is make altcoins for the Chinese people If they can spend money on mining altcoins to buy bitcoins They can get back in all this

Definitively good time to buy Bitcoins when prices crashed, not sure if this is bottom though.

Suppose it's all spinning about one thing. Profit is that thing. No matter is it BTC,LTC, $,Eu .... It's all about profit.

No, China does not need national reserves in Bitcoin, Bitcoin market cap is small

I always do the opposite of what the market is doing. When the price is skyrocketing I go shopping and spend bitcoin. When there is a crash I buy cheap coins from weak hands. I have done this each crash and it has been very profitable. It has allowed me to collect a lot of bitcoins and buy a lot of stuff. I have taken out 10x what I have put into bitcoin and never sold a bitcoin.

Can you use block eruptors on altcoins?

You do the smart thing. How much goods were coming from China that you can buy for BTC ?

Most goods is from China. A lot of bad paid workers there

Exactly Bitpay and Gyft are still up so I don't see a problem

I have just started mining altcoins but it's  already clear to me that BTC price is the main driving factor for them. I hope there will be another jump  in 2014  8)

Don't think anyone knows for sure is it a good time or not, it's all a guessing game. If by investing you mean buying BTC, not mining hardware - I'd say yes, it seems like a good time. I'll be surprised if btc doesnt bounce back to at least $800 in the next month or so.

I don't think that mining BTC is still a option. It's to hard to mine right now.Maybe best thing is to buy them now and sell them later if the price goes up.
Maybe several months must pass by before price goes up, how knows.  ???

If you have the mining hardware already, just mine and hold the coins for better times.

Yes, but only the ones based on SHA-256 (a lot/most of the altcoins are based on SCRYPT).

buy now, end of this week it will be 760.

I agree and disagree. If the electricity part is big maybe is better to mine some other coins where you can mine great values of them and wait for better times ;)

Until the end of january there is sell pressure on the market. See https://bitcointalk.org/index.php?topic=376423.0

You never really know. It could drop more or it could shoot up. It's a gamble. However if you're in it for the long run, I think it will turn out good.

I would mine alts

Bitcoin ASIC mining does not cost much electricity, like 20% of BTC price. GPU minig Scrypt coins is much worse

No its not a gamble. Its a question of demand and supply. As far as there is more supply because the Chinese have forbidden bitcoins and Mr. Lee and Mrs. Chang HAVE to sell their coins, than the price will go done. They own approx. 20-30% of all bitcoins. Or in other words: if you buy bitcoin now, you pay a Chinese bill. Do you like that idea?

It doesnt matter who you pay, it is now cheap Bitcoin anyway in my opinion

lost nearly half its value :(

I have Domain names  www.barclaysbitcoin.co.uk  and www.lloydsbitcoin.com  does anyone have any advice on what I should do with them please ??

Any advice would be greatly appreciated Thank You

If it doesn't drop below previous low we are going up from now
so yes, buy I'd buy some

There were worse crashes in Bitcoin history (27->2 and 266-50), and recovered

I wager that it will go lower. But that is just my opinion. Nevertheless I would still buy some while it is in the 400-500 range.

Yes you are right, also bubbles last longer as they progress, this might be a good sign.
To be honest I think double previous ATH (450-500) is the bottom but if we get another really bad news tomorrow it will certainly go down, rapidly!

Maybe it is not bottom, and another selloff will be tommorow, not all Chinese sold I guess

Bitcoin is a currency. When you say "invest" you need to understand what your aims are. Do you "invest" in Euros when you go to Europe? Or are you "investing in Yen" when you travel to Japan? Are you really "investing" when buying another currency?

What I'm trying to do is a little bit of education. BTC exists for a reason and that reason is so that it can be used as a currency. The fact that it also has properties that make Fiat currencies go down in value against it, does not make it "an investment" - it merely highlights the problems that the other currencies have in retaining actual value.

I do however recommend to my friends that they buy at least 1 bitcoin and if they want, I will buy them back off the person that does if they no longer want them.

If you see Bitcoin as a hedge against your own currency crashing against bitcoin, then by all means buy BTC as an "investment". Other than that buy BTC because you want to spend it now or later.

This is nonsense because all the other currencies are just as bad (or worse) as the USD. Fiat currencies are defined to lose purchasing power in the long term and are only useful for short term liquidity.

It is possible to invest in Bitcoin, just like it's possible to invest in other commodities, stocks and bonds.

I would not call buying BTC as an investment. It is rather speculating.

For an investment the volatility is terrible. For speculating it is a huge opportunity even withing one day. :)

Now is a great time to invest as BTC has been at its lowest for a while. Can't see it going any lower unless there's a catastrophic event.

That's bullcrap also. Investing in volatile things is perfectly acceptable. However, one should require this added volatility to be 'paid' for with additional upside. Bitcoin is such a situation so the volatility is perfectly acceptable :)

Catastrophic event ? All you need is some bad news, China as example 2 times this month

I'm not sure it will not go under 500, last week everybody thought it  would be the lowest when it was at 800, this week 500, next week..?

BTC great you can even add the bitcoin symbol in replies!

You can speculate as an investment. The terms aren’t mutually exclusive.

No you can't and yes they are.

Depends what will happen next week, news can be eighter bad or good :)

How can you not speculate as an investment?

I am just saying that with that high volatility buying and selling is speculating. Low volatility and long term is investing. Buying does not always mean investing.

By definition. I recommend you read "The intelligent investor" by Benjamin Graham.

That's not the definition of either of those. Investment has to do with the estimate of value (and the future increase/decrease of value) and the coupling with price. If the price is sufficiently lower it's a good investment (based on the amount of risk).

Speculation is when you don't care about value but only about price. In speculation you base yor buying and selling decisions on whether you think people will pay more or less for the thing you're buying or selling at some point in the future IRRESPECTIVE of value.

Depends on your definition.

I think it falls under this, but I will put The Intelligent Investor on my reading list.

I agree it will depend on your definition, but then again doesn't anything? :)

I'll guarantee you're going to be glad you put that on your reading list. It's the book that formed me as an investor.

What is your definition of 'guarantee'? ;D I've just downloaded it.

This is a good entry point

Lot of the specs are out again which in a way is not a bad thing

Hey there...

I think its a really good time to invest in Bitcoins and not only in Bitcoins.

I bought Bitcoins for 500$ as they were at ~400$ in early November or late October. I hoped, but didnt really believed, that they would go above 600$.

Finnaly i selled them at a price of ~900$. Did the same again.... and again... switched the crypto-currencie and did it again with PTS... again and again ...

Started at the end of october with 500$ and got until now something between 1800 and 2500$(Didnt know exactly) just with exchanging it many times =)


Btw: I started to mine new coins with few dedicated servers ... Started with PTS few days after the beginning .... got me ~450$ after exchanging to BTC and selling the BTC

Now I´m mining Memorycoin 2.0 ... mining just with 4 dedicated servers... found 5 Blocks so far.
Yesterday I started to mine Dogecoin with my GPU at ypool.net .... got me ~60.000 Coins...  lets see what this will bring. =)


Greetz,
Hyko0

When the price crashed it is definitively time to buy more Bitcoins. When bubble forms, it is time to sell

Lol, very good question ;) (may be I should start adding a disclaimer stating I'm not financially responsible for following any of my advice).

I ordered a block eruptor and it's not here yet But I still don't know how to mine Does anyone know how to use it?

Bull-traps then Bear-traps. Trading is risky this is why I hodling

Altcoins are the best way to avoid traps It's like forex

Now is a great time to invest. You snooze and you lose. Can't see it going any lower this year. I reckon it'll slowly creep back up to around 1k in Jan.

Very simply put, the price has dropped because it was much too high.
Until October, the price was fairly stable and less than $150.  Let me say that again, just in case you missed it: Until October, bitcoin cost less than a hundred fifty dollars.
What happened then?  A bubble.  A bubble is something full of air.  The huge price increase in bitcoin was nothing but a lot of air; it means nothing. 
Bitcoin is still subject to economics and the natural law of the market. 
Yes it will most likely go to $1k sometime not too far in the future, but I think it might take until late summer or early fall.  I also think that, before the bitcoin price rises, a further drop in price is very much within the realm of possibility.

I waiting for deposit over week, unfortunatelly the price keep rising, but there is still hope for a drop

If you look at all the altcoins there are actually a few that trend opposite to bitcoin so you can earn no matter what if you diverge into alts

I think we are just in time to invest. Because bitcoins and litecoins now fall in price, but they will return and become much stronger in future.
As it was before.
And also its time to invest in some new currencys, nxt for example is a good choice.
The problem is that i am not so rich to invest everywhere, but i want so much :))

Obviously, with so many altcoins, the opposite trend can happen on few just by pure luck. Does not say anything about future

What do you guys think about DOGE and DVC?

Doge is kind of tricky because people are gonna play it up, get the prices somewhat high, sell, and let it crash.

Then there is gonna be a ton of people with Doge who will want the prices to rise... So perhaps the cycle will repeat...

Can you explain a little more on what you mean by it is bull-trap?
I have been buying bitcoins with every bit of money I get(from 1 dollar no joke, to 250)

I always buy, but just sit on my coins.
I am not interested in day trading I guess.

We simply have to wait untill Chinese black market gets its momentum :) banning BTC by Central Bank is just not enough to completly exclude it from the market. In fact - banning is the last thing that can help with excluding anything

forbidden fruit is always sweeter  ;)

I think DOGE is good and new. DVC no.

i suggest the classic sell high, buy low strategy and start a portfolio in currencies you can do a little research on

I think we just need to make a series of Chinese altcoins for them to mine so they can just trade those for coins China can be a mining nation

When do you guys think bitcoin will be $2000?

I think it will still go below 300 and then up to 700  :)

Actually the beginning of 2013 OR the beginning of the 4th quarter of 2013, was the best time, in my opinion.

This reminded me of:

http://pic.rutube.ru/video/c3/c0/c3c0645e661f063af563507d4aa952a0.jpg

http://www.youtube.com/watch?v=ygfX3VAF_gg

What you say about doge coin ? Is there any future for him ?
I started to collect him but i have doubts about him.
He had good start but now he is like 36 satoshi.

There never was any future in doge. Miners are already ditching it.

has China taken action on any alt coins like they did for bitcoin?