Bitcoin Forum

6 USD, 7 USD, maybe even 8 USD until it breaks down again?

Jinxed!  :P

lol

Most surely jinxed. Somebody pumped and dumped it seems. Or something like that.

That was one of those "just a matter of time" kind of sells. This is far from over I think, there is low depth close to the price. It will fluctuate for a good while yet.

The "bid-ask spread" volume is low.

Therefore even low volume transactions can triger wild swings in price. This is and will be commonplace untill the ask/bid catch up.

You both are probably right. It will go up and down a good bit. I just liked the irony of this post being made practically the same minute as when the price went from 5.44 down to like 5.26. It was just to perfect.

Once all the drug dealers have to sell their money from the SR sale the price will go down. I know most of you think that SR isnt the #1 reason for bitcoins success but after this huge spike for 4/20 I dont know how you can deny it any more.

lol

wouldn't you think they would buy b4 4/20?

Stoners?  nope

So they must be extremely dumb or extremely bad businessmen. Not even. They must be irrational customers. In any case, this speaks against using SR, not from a moral point of view, but an economic. I wouldn't want to deal with people who are so dumb to deliberately hurt themselves economically.

I think ~$5.50 will be the top for a while, but we'll see.  Still waiting for a re-entry point and still planning on it being below $5.00.

Yep 5.5 is the next resistance, but taking that buying volume into account, I dont think itll last long. Maybe till tomorrow. Re-entry around 5.20-5.30. Next stop 6 USD!

I have strong doubts SR had much to do with today's rally since most of people trading there don't use the 100% by the book give us your ID info or we keep your money mtgox.

I don't know, I'm not very high right now...

I don't understand what you are doing there exactly. So, you go all out only to get back in the game later? Is this just to get some kicks out of it, or is this actually a working strategy?

I am a miner with a little more than 3Ghash/s, and my goal is to sell as high as possible obviously, but I would never sell all of my coins unless Vlad reaches 30%+ of the network rate or something horrible happens. Maybe so, if I needed to break even to pay for my initial investment. But other than that...

Say you buy in again at just below 5, and the price never reaches 5 again, which is unlikely, but as far as I can tell from many forum posts, bitcoin is a very risky thing and far from a safe investment.

That's speculation!
Hold (long) on the way up, sell (short) as close to the top as possible, only to buy back more at a lower price.

Except there was a huge sale on SR that started like 12 hours ago, no commision so around 7% of the cost right off the bat. Then a lot of vendors also reduced prices on top of that. The sale ends in 1 day 5 hours watch the sell off :)

Also, of course drug users are irrational customers. It's been shown over time most drug use does not go down even when the price of them goes up exponentially. There's a somewhat fixed demand regardless of the price.

You'd be surprised.
And regardless, one way or another, if there's a surge in demand for BTC on other exchanges it'll push the mtgox price up too.
Market dynamics at work  :P

Looks like it was a good I moved my bids down.  Expecting more downward movement.

 ???   Are you actually Jim Cramer?

No.

Are you actually Jesus ?

Remember when $8 seemed outrageous?

no

Yep.  8 was like adamstshghsghsdbit's favorite number for the longest time.

I remember that  :D

We are headed back to $8.

Bitcoin will be black swan even for most of bitcoiners who use it today

Buy  ???    ;)

Like... a black swan as in a sudden upward spike or a sudden crash?

whatever you're not expecting. thats what a black swan is

so if you want it to go up, expect it to go down, convince yourself ;)

I am not sure if you are using the term "black swan" correctly. A black swan is not just something unexpected, but something which is believed impossible because every other example is different. Something which can not happen because it has never happened before. Until it does happen, which proves everybody wrong.

yup I deliberately changed the definition as I wrote

you miss the point ...and point is what happens after fact !

The black swan theory or theory of black swan events is a metaphor that describes an event that is a surprise (to the observer), has a major effect, and after the fact is often inappropriately rationalized with the benefit of hindsight.

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

A little late to reply, are we?  :)

Bitcoin is the ultimate Black swan. It will change everything.

black swan to the masses. pocket monster to us

Amazing what 12 months can do. :)

160 USD, 165 USD, maybe even 170 USD until it breaks down again.