Bitcoin Forum

Pessimistic as I am this might be the beginning of a drop to $300

...

I hope to buy some tomorrow!

 :)

It seems to have been bouncing around here for a good while. It's free to do whatever it feels like doing though.

I sure hope it dumps. Having a hard time getting some orders filled.

On Bitfinex:

12000+ coins to get to 500

11000+ coins to get to 365

This should concern bulls, imo.

Order books are a very poor indicator of market intention at the best of times....

.....and Bitfinex's order book is the very worst order book to be analysed as an indicator of market intention.


Talking the same flavour of utter shite all the way down:


........proven wrong on an ongoing basis yet never changes his tune or even feels embarrassed enough to simply shut the fuck up and admit his feel for the market sucks.

we still have one week of chinese FUD ahead of us, where is sure that exchanges need to stop fiat transfers related to BTC. until next week, up of down? you decide...

Facts U Dislike

no, more like "Facts I like" (for now), did you read my post?

Please tell me you will be selling your bitcoins all the way down to $ 300. I will be happy to assist in taken them off your hands. Also please continue to ring your hands and sweat all over your key boards every time someone mentions China. It will not stop me and many other optimists from stepping on the gas and watching you fade away in the rear view mirror. Ever creative innovation in history had it doubters who quietly fade away over time. This is still the beginning of a journey not the final event. Bull on!

 Pure FUD (Facts U Dislike): OkCoin and Houbi will have license issues to run their business in 5 days, you guys will get a web notice soon, haha.

http://www.weibo.com/1733978750/B2Je56PVU?mod=weibotime

It is an important indicator.  The amount of coins up to 500 has shifted dramatically. Also a LOT of longs are closing.

People are starting to understand that the last rally is over.

dude, i think a lot of people here sell only in order to rebuy cheaper eventually, not just to get out of the game.

More specifically around $280

Last year I was a lone voice.
Now I am getting phone calls from people who want answers from an "expert".
Look at my posts here lol I'm no expert at all.
But to the locals I'm the one person whos been talking about BTC for over a year.

I can't tell you how common the word is and how many people are becoming interested.

2 days ago one guy told me "bitcoin is bankrupt" and "a lot of people got hurt by it".   I didn't get a chance to ask him where he got his information from unfortunately.

Yesterday a buddy sent me a text,
"Hey D (local restaurant owner) wants to talk about BTC"

D mentioned buying gold to a buddy on my softball team. The buddy apparently responded "what about bitcoin?"  D is curious and the wife supposedly said something like "absolutely not"  lol.   The thing is my buddy mentioned Btc because.....

Last year my softball Jersey name was "Gold, Bitchez" and I was #16.  This year my name is "Bitcoin, Bitchez" and I will have BTC as a number soon. The jersey makers didn't have the symbol to put on a shirt.  ;D
lol

I wonder if anyone here has any expectation to influence the price on even a buck... maybe on tradingview there are people with more than 1000 folowers that can have some influence, but here? Most comments have no support on any kind of bases.

http://www.reactiongifs.com/wp-content/uploads/2013/09/devestated.gif

Please say it's not so... I've been holding in this market for over three months now. We will not break $400 again, alhamdulillah.

You mean the moderator?  ;D

The "no more triple digits in 2013" one?  :D

You're lucky he lets you go. Your constant ragging on him has obviously had some effect. You're the only one he's called out by name.  Be grateful he's relatively tolerant.

His posts will float or sink according to their own merit (or lack thereof). This is why I generally avoid the "ignore" button. There's too much good comedy to be missed by ignoring any except the most obnoxious and boring trolls.

Our illustrious moderator is neither obnoxious nor boring.

Just my two satoshis (BTC0.00000002).

Good thing it's such a short time. Barely a blink.

Fear Certainty Belief

i think the drop looks quite imminent / certain. better to bottom out soon so it can go upp

It was relieving to see the prices remaining stable, despite the massive attack on Localbitcoins.com. Normally if some of the major exchanges are attacked, the prices will drop sharply. That didn't happened.

price will start rising when ppl stop watching

Start closing your eyes and be prepared to live like that for some time.

Going south.

https://i.imgur.com/gBOZZVN.png

No early retirement for me this year... maybe never.

Get the F out of btc as long as you can. We had only good news last week, and quite a lot of it. Yet still the rate of decline is only increasing. Things will go south really fast in the upcoming few weeks. It will be double digits before we can possibly get a rebound.

Probably even $0.10 in 3 weeks

Mining company out of game, and the price go to 50-100 usd.

Haha, come on igorr, you give them toooooooo much pressure  ;D

I heard someone saying bitcoin is going to negative values, around -25usd. Do you think he might be right?

--
End joking mode

Lol'd.

I would expect a rebound to around $500 soon.

Anyone that doesn't give supporting facts/reasons for their opinions won't be giving an opinion to take in account.

Dont expect that the whales who bought at 900+ will be selling soon

I think whales understand very much on Short Selling

Newly minted coins are all that's needed to crash the market.  The BTC community needs to CONTINUALLY spend more then a million dollars a DAY to support the current price, they can not simple HODL the price up because thouse miners need to have their costs covered.

w'ell probably be at or around $70 by the end of the month. SELL SELL SELL

No.  If miners stop unprofitable mining, difficulty will drop to compensate.  In short, mining costs will always be covered because of this.  Mining difficulty will adjust, meaning less will be spent on hardware and electricity.  So the fiat-value of BTC will not need to cover miners.

Haha, this is so truth. Beside I don't believe those college kids are able to HODL too long, how much the student load money in the Bitcoin market?

Nope. Not so low and not that fast.

That would be "*awesome".

Price is up? BUY BUY BUY
Price is down? BUY BUY BUY

*You know what I mean.

The point is that the average profit margins are decreasing across the board, from difficulty increase to difficulty increase, thus a larger portion has to be sold than before to cover running costs. Eventually, the margins will be very tight, and it will be extremely competitive, so that pretty much the entirety of the 3600 daily BTC supply will have to be sold.

If this wasn't true, then the average hashrate growth in % would not be decreasing:

http://bitcoin.sipa.be/growth.png

or none of the new coins will be sold and large professional miners will seek alternative income sources (say renting hosting space) and hold looking for increases prices in the future reducing the daily supply of new coins to zero.

1- People in idle mode waiting until 10 May to see what will be next Chinese move, with some panic sellers around
2 - stolen coins being slowly dumped

Yeah, or we can make something up that ignores economics and human behaviour that will suddenly behave differently from the past 7 months.

By now it's about squeezing the coins out of the hodlers that have too many of them, independently from the price they bought at. Let me expand.
If coins are a very high percent of your net worth, you are more likely to capitulate than others. Especially if your cash flow is not that great (or negative) compared to the actual coins' worth.
The capitulation process is a form of wealth redistribution which might be healthy for btc in the long term. The grinding will stop when either the btc economy will be big enough to sustain the price, or the new wave of speculator/buyers will neutralize the selling pressure. Until then, expect many bull traps, likely caused by early investors trying to catch the bottoms - and losing their fortune in the process.

What makes bitcoin valuable: Distributed network, blockchain technology, anonimity, bitcoin community,etc.
I think the 'era' of decentrilized mining is coming to an end, therefore the chance of attacks is highly likely.
This is just waiting for the bomb to go off.
We will see a slow decrease in value as this(the centrilization+losing of trust) is a gradual process. followed by a sharp drop after a 51% attack.
https://www.youtube.com/watch?v=Kjtgp5h-jEY&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q (https://www.youtube.com/watch?v=Kjtgp5h-jEY&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q)

So dump everthing while you can.

..so you can buy it?

While the price may certainly dip below $400 or even $300, it will be short lived. There is no way in a year from now people will be buying Bitcoins for just a couple of hundred dollars. If anything, I'd expect another mania to develop over a complete price crash.

You don't provide a graph or at least one explanation behind your reasoning. Makes it look like you're pulling numbers out of your arse.