Bitcoin Forum

Who thinks coins will drop to 10 this week?

I think the market has stablized at 10.. now heading towards 11.5 to 12. IMO it will stay that way til some economic story hits the news. My theory is in later half of 2012 or so when 1 block equals 25 coins. On contrary to the ideals, bitcion will be traded for a higher value cuz so many miners will quit and the committed community will reveal what a bitcoin is worth. Til then i expect it to go up and down from 6 to 30 usd. I know some hardcore fanatics won't ever sell out til it hits 45-49 USD/BTC.

From what I've learned so far we might be at 10 in a month or so and about half of that by the end of the year.
vagely but what will really happen is anyones guess and there could be many bumps the way down.

But there is alot of incentive to manipulate the markets upwards by deep pockets and it might even be successful.

I don't consider myself a hardcore fanatic, but I am making a gamble that we will hit 50+ eventually and currently don't plan on selling coins much lower than that. As for where the price will be next week, or what price we will stabilize at near term, I don't think anyone can offer much more than a hunch or guess about that. But my hunch is that we will continue to see volatility in price in the coming weeks, and it may have a downward bias.

on Silkroad its ฿1 = $5.1

ATM....

on MT.Gox 11.3 ...WTF??

Just dropped under 10.2 on MT.Gox what did Silk Road knew  MT.Gox did not?

again WTF!!!

I wouldn't compare the silkroad "exchange rates" to anything else  ::)

Agreed. The SilkRoad is a world all on its own.

The long and whining silkROAD  :)

so you buy bitcoins on silkroad for 5.1 then sell it back to people for 8 usd. You profit 2.90 each bitcoin purchuse?

I think bitcoin will follow the direction of the trend which is downward.  They will continue to decline in worth until the trend is over.  Simple.  Logical.

Silkroad is very different from Mtgox.

The trend is your friend until the end when it bends.

wow 6 to 30 usd > thats crazy i know it goes up and down all day long like a yoyo

This market is very crazy

I very much hope that MTGox's recent announcement https://mtgox.com/press_release_20110902.html (https://mtgox.com/press_release_20110902.html) about expanding into many new markets will revitalize trading and cause an upswing in BTC value.

This is going to do nothing for the market on Mt Gox or possibly even detract from it as these new currencies will be swimming around in the USD market, meaning that the Euro/Dkr/Yuan etc price will all be pegged to USD equivalents which a lot of people want to avoid as they can do better deals sticking to their native currencies (just look at prices on Bitmarket or Britcoin).

Furthermore they haven't yet rolled out decently priced withdrawal options for these new currencies (at least none that they have made public) it looks like they're still charging 2% for SEPA (according to the site) which is WAY too high.

All this is an attempt at is having a Gox price for all which is laughable in the extreme. Why would anyone want to tie themselves to the USD creating a "world price" thus heading down the road towards a central bitcoin bank and all the evils that entails.

If they were to offer independent markets for each currency then I think the market would take a massive upswing by enabling forex speculation via BTC on the same exchange this should draw in quite a few extra players. Atm the only three exchanges offering anything like this are Ruxum, Tradehill and Intersango with Intersango being the baby of the bunch but still looking like it has quite a few possibilities and Ruxum clearly leading the field in terms of A ease of use, B reasonable fees and the option to convert to whatever currency you wish to withdraw in at decent rates.

I fail to see how this will do anything of the sort as they're all floating around in the same market pegged by forex rates to the main market. For example I want to buy at 55yuan if no one else is selling for yuan at the moment but it hits the USD equivalent then it will still execute (provided that I've understood the fairly limited information released correctly). This will in fact do the very opposite as you're suddenly brokering forex trades which is highly regulated.

However if this were run in separate markets then you wouldn't be poking that nest of vipers as you'd actually be exchanging currencies using BTC as a medium instead of having the exchange provide the service.

Bit coins 5 dollars this week?

Amazing.. my prediction failed. Well glad I didn't take that off on bitcoin gamble? err there was a bet for .2 btc on this website for BTC standings last week. IF i taken and and said BTC are gonna be < 10 USD. I woulda lost 2 dollars. Anyways it's heading down... 9.5....9.0,.....8.5.....8........7.9... do i hear 6?

Anyways have you guys seen those troll threads about exchange manipulation and stuff? just found it rather suspicious that there's tons of these micro trading going on to lower the value of BTC. One thing for sure tho.. I'm buying when it hits 6USD per BTC.... and ride it out.

7?

"The stock is crashing, when it hits 18, buy it all." -- Wall Street, the movie.
I am waiting for bitcoins to reach $18/coin then I buy.

Perhaps Wildman was talking about Zimbabwe dollars.