Bitcoin Forum

http://img855.imageshack.us/img855/5936/melt.png

Wow!  It went right down to $2.5!

The Manipulator, dude.

Oh well, I guess it's time to PANIC SELL!!!!!

Bidwalls usually get cancelled when hit.

The thing is, panic sells usually DO happen after the manipulator pulls out his wall.

I love it, been saying in my recent posts that once this wall goes, it is all downhill.

Still too much optimism around here. Not nearly as much as a few months ago, but you speculators need to be shaken up a bit more until you learn your lesson. You still just don't get it that your dealing with an item similar to an antique. The only problem is, every single minute more and more of the item you own are getting thrown into the market.

This is not like stocks, which are a fixed amount and make you money through company profits. It is not like a commodity where people actually need to use the item. You are dealing with something that has no useful value other than speculators and miners trying to get money out of it.

You will all get burned, dropping from $30 to $2 was not enough to stop the optimism. Hopefully the next downturn will beat you guys up enough to stop with the crap about bitcoin rising again.

you just want to buy @1.5$ admit it

No useful value.... I disagree strongly. In fact, I can think of very few things which are more useful than Bitcoin.

But, place your bets where you wish - with such confidence surely you are shorting the market? Or are you just talking? I encourage you to profit from your foresight. Bitcoinica will give you 5:1 margin for a short position... why not come back in a month and tell us how much money you've made?! I'll personally apologize to you for my skepticism of your reasoning.

more like under $1.00  ;)

holy crap, you must not have much in your life

your right, if bitcoin can by me hookers or girls, I would then consider it useful.

Anyone notice the $2.00 bidwall gone?

no, still a 36k bitwall at 2$, according to mtgox' market depth.

How is bitcoin any more useful than I0Coin? It isn't. Except I0Coin is worth $0 and bitcoin isn't just yet.

I heard people use these bidwalls sellwalls to catch swings so if they are hammered, their tradebots remove and change them.

I'm surprised it dropped again.  I still suspect that the lower it falls, the higher it'll swing up.

I keep seeing comments similar to this one. Not everyone here is for profit, personally I'm just very interested in what is going on for various reasons related to my day job. I have been negative of the implementation of Bitcoin from the start, but never thought of placing any bets, or trying to short, even though I was sure that the price would continue to drop.

The reason? I simply don't trust the exchanges. Not a single one of them. Not even to short. This I believe is a big part of the problem with BTC, the technology can be as resilient as anything in the world, but the implementation fails at the choke points.

Wow, here comes a fake spike.  Time to short.

Yeah, I watched the whole thing. Sold all my holdings at 2.75 thinking that was already a ridiculous high. The bottom of the bounce will be a good time to buy in I think if it drops past 2.4 I can't imagine the ridiculous optimism of whoever was buying at over $3 on the top end of a huge spike.

Perhaps those over $3 were forced liquidations of short positions?

it's more useful because it's accepted at more places and by more people than i0coin.

Canadian Tire money is accepted at more places than Bitcoin, so that's not a valid argument at all. Bitcoin doesn't have a fundamental value, and isn't directly convertible in the current state of things. That means its minimal value is just slightly below zero.

Once Bitcoin becomes useful, I'd think it will go up again. Until them, I'm enjoying shorting them.

International, secure, fast, low-cost, unregulated money transfer is of worth less than 0. Can't wait till I get paid to use Bitcoin!

Will it take about 6-8 more months before it goes up above 4? I got in at $14.7, only in a few months it dropped to 2.

Did you sell at any point or are you still holding? 

As for the future, I don't see a significant rise until next year at this point.  It will bounce up and down for the short term, wiping out those who invested in the "bottom" or the following short term reversal of the past few days, which will allow it to fall even farther.  Future is uncertain as to whether it will recover. 

Nah, I'm holding, not selling, I'm gonna mine till something happens where I can't, like death or end of bitcoin chain etc. Hopefully, in a year or whatever, if the price sky rockets, I will have quite a few bitcoins mined, and will be a good investment. As for the significant rise maybe in a year or more, that is what I kinda thought, it is gonna be a long journey. And hopefully, as the difficulty is dropping like so, in a year difficulty should be great.

You must have really cheap power to still be mining at these prices. 

Why should the current price matter if he's holding? Why should the price matter to enthusiasts at all? My computers ran SETI@home for over a decade, and no-one paid me for that.

Because if may be cheaper to buy than to mine unless he has a source of very cheap electricity.

when it comes to "stocks" you never heard of capital-measurements, have you?

please consider taking some lessons in finance economy, or at least read some marx or hayek or keynes. your example with an antique is silly. can you eat dollars? NO. cna you eat euros? no! they are nothing good for, exept what the common people believe in them to be worth.

,..this currency-theories are not hard to understand at all - kind of funny how often people mix up things.

http://en.wikipedia.org/wiki/Time_value_of_money

BTW, to switch back to topic:




ASKWALL MELTS!!! ;)

http://img838.imageshack.us/img838/5170/bildschirmfototl.png

I think there should be some upward bias when the bitcoin generation halved from 50 to 25.

How much more will you pay for mining a bitcoin versus buying one?

I think it's conceivable that if the gap is not huge, some who already have mining rigs would rather pay a bit more by mining than dealing with getting funds into an exchange with the added benefit of securing the network and supporting the project.  Me for instance, though my mining "operation" is minuscule so whether I buy coins or mine them I won't pay much and won't get many coins either way.

Lot of factors, the current price of btc, your hardware, whether you actually bought the hardware for mining (lots did), whether you have paid off your hardware investment (lots havent), your heating/cooling situation, your electric rates, whether you actually pay your electric rates or not, hardware depreciation, premature wear and tear on hardware, I'm sure some other things I am forgetting.   

And if you are really using "securing the network and supporting the project" as an excuse, well illogical is an understatement.  If this were some small altcoin I could get that, but it isn't.

But, if everyone had this mentality, no one would be mining! I think that is what separates the true supporters from someone trying to get rich at the expense of the rest.

Yeah, I don't get why people join Folding@Home.  They don't contribute much at all when you compare their contribution to the overall network FLOPS.
[/sarcasm]

lol at comparing bitcoin to folding.  You guys are hopeless.  Good luck with all that though. 

the BIDWALL grows!

Let me tell you what I've learned from the past 4 months of watching market depth.  When bids outnumber asks, then the price goes down.  When bids vastly outnumber asks, then the price goes down a lot.  When asks outnumber bids, then the price goes down.  When asks vastly outnumber bids, then the price goes down a lot.

Reminds me of the rather absurd 'mappers' vs. 'packers' thread.  I don't even remember whether this make you a 'mapper' or 'packer'.  The latter I think.

Your observation is amusing, though.  Probably because it has that certain truth that makes things amusing to me.

the BIDWALL continues to grow!

It's 25k BTC already! ;D

:D

i like your jokes

/offtopic/however, proudhon is a poor philosopher (not the user, but his avatar). ever read about the dispute with marx? kind of funny how good old Karl bashes proudhon with ease and makes fun of him. //offtopic/

the absolute amt of money across the entire bid mountain, not just the wall @$2.40, has grown enormously today in direct relation to the number of mtgoxlive users logged in this AM.  the BUYERS are coming in and are ready to pounce and become early adopters.

Wow, the wall moved to 2.50.

PLEASE, PRETTY PLEASE, short into this. ;)

Haha, nope. ;D

interesting indeed