Bitcoin Forum

Of fiat trying to buy all these cheap coins  ;).

Let's be honest, prices are at a record low, a perfect time to double up on old coins converted to fiat, or to simply invest some fiat into bitcoins. Wise traders invest when others don't. And sell when others buy. If all you're going to do is follow everyone else you'll end up like everyone else.

People should see this as an opportunity to invest further, or to make the first tiny investments.


Buy low, sell high.

Happy Bitcoin'in

buy buy buy.
people will be talking about this in a year, saying " Man.. the PRICE WAS SO LOW... I SHOULD HAVE..... FFFFffuuuuUUU"

The problem is that we dont know what is the low. Some thought 600 is low, some 500 and some 400. They all kept buying buying and buying. Now it is standing around 300. The Q is what is the lowest ?

My expectation is that we "MIGHT" drop down to pre-willy levels, at the absolute worse.... A more realistic bottom would be 200-220$. The community has grown immensely in the last year and honestly, we're stronger than ever.

With the strong movements that we're experiencing currently it's very easy to day-trade (although with bitcoins it's really more like minute-trading), to make a quick few %'s on hard drops or strong raises.

I say get out there and have fun, this might be the lowest that we could get for a while, and even if it drops further the potential for the future is very very huge, as long as you can be patient if the price DOES drop and aren't looking to make a quick $, go invest :).

I wonder if the asic script miners are effecting the price?

Yes and no, anyone buying "equipment" to mine bitcoins or altcoins is unlikely to want to sell at losses.

So imagine investing 10.000$ into ASIC miners (or any miner for that instance).

You'll want to make more than 10.000$ or you'd be at a loss. So imagine making 6 bitcoins with the miners in a few months time. You'll not want to sell anything for less than 1600$/btc or you would be at a loss.

Effectively any equipment invested into mining (securing the blockchain), is in some way influencing the price in a positive way. Most miners hoard their coins so they can make a profit later, instead of immediately selling them off.

Regardless of that altcoins are still very small compared to Bitcoin, all the altcoins together only have a market-cap of around 300 million us$, only 7% of bitcoins market-cap.

Don't forget that what has been invested into scrypt asics gets invested into bitcoin mining equipment daily on a much larger scale.

1st - Bitcoin is not an investment. Learn about what is Bitcoin.
2nd - "(...)prices are at a record low(...)" - really? I understand that is "record low" from when you're in ;)
3rd - "Wise traders invest when others don't." - Well ... Maybe just more traders than people who just love Bitcoin.
        We need more people who will love BTC :)
4rd - "If all you're going to do is follow everyone else you'll end up like everyone else." - Depends on what others are doing.

:)

Kind regards

ps. ♥BTC no matter how much it will cost :) Bitcoin is the way to transfer the money around the world with decentralized network in minutes with low fee. That's what Bitcoin is if anyone ask.

That's it in a nutshell.  Right now it's the only thing that can be offered that no one else is able to.  Figure out that worth and that's what bitcoin is worth right now.

From an economic and equilibrium standpoint, the price of a bitcoin is the $ cost of electricity for mining one bitcoin. Hardware costs doesn't count.  Equilibrium will be only the marginal cost of production.  There's always going to be someone to sell it cheaper. BTW, that's currently somewhere between $65-$80 per BTC. Ouch!

i thought 600 was low

I think that hardware costs will count, but there will be a much smaller markup on the production costs.

I believe that difficulty will mirror that of average electricity costs (with a negative coloration).

As far as the price is concerned, I would say that I would say that the current decline is temporary and hopefully will rebound sometime in the near future.

Nice post OP! You had me tricked when I clicked on the heading!

A couple months ago I spent a ton of BTC to pay off my credit card. Now I'm doing the opposite, and getting a ton more BTC than I had!

lol.. byebye fiat! :)

If you're out then good luck. More coins for us

Did you even read OP's post? :P

lmao

I am slightly overextended on my long positions I think in terms of my diversification strategy, but I'm wary of putting any more money in stocks, between my ROTH and buying more bitcoin, bitcoin is winning.  Was hoping to see lower prices, but this manipulation is hard to trade.

 It's easy to say but difficult to do

Absolutely everyone knows the price is cheap but rarely has courage to make decisive actions to buy a little bit of it.

there is zero chance I will sell at these levels. I am being careful though before buying to much at these lvls' I want to make sure we are going to get support here and push back towards 400+

Like I said, my absolute lowest logical low would be pre-willy levels. Seeing how much market adoption we've secured over the last year tough it's very doubtful that would happen. A more logical bottom would be around 200-220$, regardless if it does hit that price it wouldn't be for very long. All in all it's a perfect moment to buy some. If we do stable out at this price we could be up to the 400's by the end of next week again.

Is there any logical/statistical ground to believe these figures ?

Long term exponential support line which was confirmed many times starting from 2010 now crosses $200 as we speak. So that would be a very strong support. It would raise to 300 by January, 2015. Of course, it would become a support only *if* (and thats a huge if) the current support at 270 gets broken.