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Title: Relax, it can not go under 250 Post by: williamevanl on January 13, 2015, 06:00:39 AM They said, man if there's one thing I love more than bitcoin, it's people that couldn't be more wrong about how low this is going to go. I've been watching this forum for over a year and it's just, "It can't go under 800, it can't go under 700, it will never go under 500, 300 isn't even possible, 250? You're retarded!
I'm just amazed with all this and I love bitcoin but even more so I love how ridiculously wrong everyone has been on this forum for so long. Bitcoin might very well not be worth 20$ at this stage. I've been saying this for a long time as a Bitcoin believer but all I get is ridicule. The majority is delusional and time will make that increasingly more obvious. Wait I can still buy 4 bitcoin for $1,000, oh wait that's still retarded. Title: Re: Relax, it can not go under 250 Post by: twiifm on January 13, 2015, 06:03:45 AM it has already gone under 250
Title: Re: Relax, it can not go under 250 Post by: williamevanl on January 13, 2015, 06:04:33 AM it has already gone under 250 Yes I obviously know that, not sure you even read my post. I just saw several people post that in the last week and I just shook my head as I read it... Capitulation is going to take us down into the low double digits and nobody should be surprised by that. Title: Re: Relax, it can not go under 250 Post by: homo homini lupus on January 13, 2015, 06:21:56 AM Going to fail completely. More decline from here.
Once we are at pre-bubble prices it's going to get really nasty. Title: Re: Relax, it can not go under 250 Post by: Edward50 on January 13, 2015, 06:27:51 AM Yep, I'm right with you guys here. I should post all my posts warning people at $1000, and constant posts thereafter that it is ridiculous how overvalued it is.
Why it will keep going lower is that China is out of the game. I think China was part of the reason it got so high and with them out of the game it will fall back to under $100. There is nobody who is going to throw money into bitcoins to make a lot of computer geeks rich. The main reason it is going lower is that bitcoin doesn't offer anything that Fiat, visa, mastercard doesn't offer, at least not anything that makes it worth over $100 or even $250. Like I have always been saying, where is the money going to come from? Miners? Computer geeks? It will come from nowhere, at least nowhere to sustain these very high prices. After $300 the capitulation is going to be very bad and we are seeing that now. Should test $200's any day really at this point. Title: Re: Relax, it can not go under 250 Post by: orpington on January 13, 2015, 06:31:03 AM Yep, I'm right with you guys here. I should post all my posts warning people at $1000, and constant posts thereafter that it is ridiculous how overvalued it is. Why it will keep going lower is that China is out of the game. I think China was part of the reason it got so high and with them out of the game it will fall back to under $100. There is nobody who is going to throw money into bitcoins to make a lot of computer geeks rich. The main reason it is going lower is that bitcoin doesn't offer anything that Fiat, visa, mastercard doesn't offer, at least not anything that makes it worth over $100 or even $250. Like I have always been saying, where is the money going to come from? Miners? Computer geeks? It will come from nowhere, at least nowhere to sustain these very high prices. After $300 the capitulation is going to be very bad and we are seeing that now. Should test $200's any day really at this point. Some computer geeks have lots of money. Bitcoin could sink lower - possibly into the negatives... Title: Re: Relax, it can not go under 250 Post by: Mieehayii on January 13, 2015, 06:32:51 AM ha ha ha, what a smart boy! >:(
Title: Re: Relax, it can not go under 250 Post by: orpington on January 13, 2015, 06:39:23 AM If it gets to the negatives, then I'd say we're in real trouble for sure. Everybody owing money and all...
Title: Re: Relax, it can not go under 250 Post by: ramkumar on January 13, 2015, 08:00:35 AM Title: Re: Relax, it can not go under 250 Post by: MatTheCat on January 13, 2015, 09:55:52 AM Yep, I'm right with you guys here. I should post all my posts warning people at $1000, and constant posts thereafter that it is ridiculous how overvalued it is. Why it will keep going lower is that China is out of the game. I think China was part of the reason it got so high and with them out of the game it will fall back to under $100. There is nobody who is going to throw money into bitcoins to make a lot of computer geeks rich. The main reason it is going lower is that bitcoin doesn't offer anything that Fiat, visa, mastercard doesn't offer, at least not anything that makes it worth over $100 or even $250. Like I have always been saying, where is the money going to come from? Miners? Computer geeks? It will come from nowhere, at least nowhere to sustain these very high prices. After $300 the capitulation is going to be very bad and we are seeing that now. Should test $200's any day really at this point. I would suggest that Bitcoin got where it did on the back of 'natural' bullish market sentiment, but also given a huge helping hand by fraudulent trading on MtGox (800'000 BTC of price insensitive buying power can do a lot in a natural bull market phase). Now that neither Gox, Markus, or Willy are with us, we have had a wildly overinflated Bitcoin price, which needs to sink to it's natural non hyped, non manipulated market equilibrium. I hope that Bitcoin doesn't die. I would absolutely fucking love to have one day, an alternative means of conducting commerce that doesn't involve the banking system, but what concerns me is that due to the Bitcoin price becoming so over extended, the mining has gotten way over-extended and I believe that at these prices right about the $200 range, that many miners are at a 'break-even' level. Below this range what do they do? Switch their rigs off and with it goes the heart of the P2P network that keeps Bitcoin's blood pumping? Title: Re: Relax, it can not go under 250 Post by: inca on January 13, 2015, 10:02:57 AM Yep, I'm right with you guys here. I should post all my posts warning people at $1000, and constant posts thereafter that it is ridiculous how overvalued it is. Why it will keep going lower is that China is out of the game. I think China was part of the reason it got so high and with them out of the game it will fall back to under $100. There is nobody who is going to throw money into bitcoins to make a lot of computer geeks rich. The main reason it is going lower is that bitcoin doesn't offer anything that Fiat, visa, mastercard doesn't offer, at least not anything that makes it worth over $100 or even $250. Like I have always been saying, where is the money going to come from? Miners? Computer geeks? It will come from nowhere, at least nowhere to sustain these very high prices. After $300 the capitulation is going to be very bad and we are seeing that now. Should test $200's any day really at this point. I would suggest that Bitcoin got where it did on the back of 'natural' bullish market sentiment, but also given a huge helping hand by fraudulent trading on MtGox (800'000 BTC of price insensitive buying power can do a lot in a natural bull market phase). Now that neither Gox, Markus, or Willy are with us, we have had a wildly overinflated Bitcoin price, which needs to sink to it's natural non hyped, non manipulated market equilibrium. I hope that Bitcoin doesn't die. I would absolutely fucking love to have one day, an alternative means of conducting commerce that doesn't involve the banking system, but what concerns me is that due to the Bitcoin price becoming so over extended, the mining has gotten way over-extended and I believe that at these prices right about the $200 range, that many miners are at a 'break-even' level. Below this range what do they do? Switch their rigs off and with it goes the heart of the P2P network that keeps Bitcoin's blood pumping? Matt the price of a bitcoin is unrelated to the cost of mining. Title: Re: Relax, it can not go under 250 Post by: asdlolciterquit on January 13, 2015, 10:16:02 AM Yep, I'm right with you guys here. I should post all my posts warning people at $1000, and constant posts thereafter that it is ridiculous how overvalued it is. Why it will keep going lower is that China is out of the game. I think China was part of the reason it got so high and with them out of the game it will fall back to under $100. There is nobody who is going to throw money into bitcoins to make a lot of computer geeks rich. The main reason it is going lower is that bitcoin doesn't offer anything that Fiat, visa, mastercard doesn't offer, at least not anything that makes it worth over $100 or even $250. Like I have always been saying, where is the money going to come from? Miners? Computer geeks? It will come from nowhere, at least nowhere to sustain these very high prices. After $300 the capitulation is going to be very bad and we are seeing that now. Should test $200's any day really at this point. I would suggest that Bitcoin got where it did on the back of 'natural' bullish market sentiment, but also given a huge helping hand by fraudulent trading on MtGox (800'000 BTC of price insensitive buying power can do a lot in a natural bull market phase). Now that neither Gox, Markus, or Willy are with us, we have had a wildly overinflated Bitcoin price, which needs to sink to it's natural non hyped, non manipulated market equilibrium. I hope that Bitcoin doesn't die. I would absolutely fucking love to have one day, an alternative means of conducting commerce that doesn't involve the banking system, but what concerns me is that due to the Bitcoin price becoming so over extended, the mining has gotten way over-extended and I believe that at these prices right about the $200 range, that many miners are at a 'break-even' level. Below this range what do they do? Switch their rigs off and with it goes the heart of the P2P network that keeps Bitcoin's blood pumping? Matt the price of a bitcoin is unrelated to the cost of mining. how can be unrelated? if the price gets too low, farm and people will stop mining Title: Re: Relax, it can not go under 250 Post by: inca on January 13, 2015, 10:18:39 AM Yep, I'm right with you guys here. I should post all my posts warning people at $1000, and constant posts thereafter that it is ridiculous how overvalued it is. Why it will keep going lower is that China is out of the game. I think China was part of the reason it got so high and with them out of the game it will fall back to under $100. There is nobody who is going to throw money into bitcoins to make a lot of computer geeks rich. The main reason it is going lower is that bitcoin doesn't offer anything that Fiat, visa, mastercard doesn't offer, at least not anything that makes it worth over $100 or even $250. Like I have always been saying, where is the money going to come from? Miners? Computer geeks? It will come from nowhere, at least nowhere to sustain these very high prices. After $300 the capitulation is going to be very bad and we are seeing that now. Should test $200's any day really at this point. I would suggest that Bitcoin got where it did on the back of 'natural' bullish market sentiment, but also given a huge helping hand by fraudulent trading on MtGox (800'000 BTC of price insensitive buying power can do a lot in a natural bull market phase). Now that neither Gox, Markus, or Willy are with us, we have had a wildly overinflated Bitcoin price, which needs to sink to it's natural non hyped, non manipulated market equilibrium. I hope that Bitcoin doesn't die. I would absolutely fucking love to have one day, an alternative means of conducting commerce that doesn't involve the banking system, but what concerns me is that due to the Bitcoin price becoming so over extended, the mining has gotten way over-extended and I believe that at these prices right about the $200 range, that many miners are at a 'break-even' level. Below this range what do they do? Switch their rigs off and with it goes the heart of the P2P network that keeps Bitcoin's blood pumping? Matt the price of a bitcoin is unrelated to the cost of mining. how can be unrelated? if the price gets too low, farm and people will stop mining So? Block reward is the same regardless. Block discovery might take a bit longer as the mining difficulty adjusts, but that is it. Title: Re: Relax, it can not go under 250 Post by: BiTJack on January 13, 2015, 10:18:58 AM It's passed. Now it's time for you open a new thread that says it can not go under 200 and keep on. :-\
Title: Re: Relax, it can not go under 250 Post by: MatTheCat on January 13, 2015, 10:19:36 AM how can be unrelated? if the price gets too low, farm and people will stop mining That's what I would have thought, but I "don't understand Bitcoin", apparently. (bought at $230......will sell at $280....if it bounces that high) Title: Re: Relax, it can not go under 250 Post by: inca on January 13, 2015, 10:23:53 AM how can be unrelated? if the price gets too low, farm and people will stop mining That's what I would have thought, but I "don't understand Bitcoin", apparently. (bought at $230......will sell at $280....if it bounces that high) You don't Matt. The block reward will still be 25 bitcoins if I am the only person mining btc on my phone. Other than mining difficulty adjustments slowing the release of coins after a drop in hashing power it is irrelevent how much is spent on mining coins. The price is set by the market. End of. Surprised you don't understand that to be honest. Welcome back. You said you weren't interested in buying btc only 50 dollars ago :) Title: Re: Relax, it can not go under 250 Post by: MatTheCat on January 13, 2015, 10:25:35 AM how can be unrelated? if the price gets too low, farm and people will stop mining That's what I would have thought, but I "don't understand Bitcoin", apparently. (bought at $230......will sell at $280....if it bounces that high) You don't Matt. The block reward will still be 25 bitcoins if I am the only person mining btc on my phone. Other than mining difficulty adjustments slowing the release of coins after a drop in hashing power it is irrelevent how much is spent on mining coins. The price is set by the market. End of. Surprised you don't understand that to be honest. Welcome back. You said you weren't interested in buying btc only 50 dollars ago :) Playing with pennies that I left on Bitstamp for Silk Road purchases......I am currently the proud owner of 1.3 Bitcoins! (edit: ooh...the price is starting to turn back down.......SELLLLLL!!!!!!!) and if you are the only person mining Bitcoin on your phone, then where does the computational power come from to clear all the transactions? Sorry, but my common sense tells me that if miners start turning off their rigs, then Bitcoin starts failing. Title: Re: Relax, it can not go under 250 Post by: sgbett on January 13, 2015, 10:37:02 AM Super please MtC is back on the train!
N00b sentiment is easy to ignore... experience not so much :) Title: Re: Relax, it can not go under 250 Post by: alphawow on January 13, 2015, 11:28:35 AM Price will continue to go down at least to 130$, but you should not sell your bitcoins if they are not your last money. Bitcoin made many of us rich and we should not forget that when it needs our support. We must keep our bitcoins and we must continue mining, otherwise bitcoin will totally fail...
Title: Re: Relax, it can not go under 250 Post by: sandykho47 on January 13, 2015, 11:41:42 AM It's already at $225 at BTC-e just now
some bitcoin service already stopped their service temporarily like cex.io Title: Re: Relax, it can not go under 250 Post by: noma on January 13, 2015, 11:45:08 AM Price will continue to go down at least to 130$, but you should not sell your bitcoins if they are not your last money. Bitcoin made many of us rich and we should not forget that when it needs our support. We must keep our bitcoins and we must continue mining, otherwise bitcoin will totally fail... Why use a newbie account to post that ? You could have very well posted from your old account. Don't be ashamed saying that you don't like bitcoin. Title: Re: Relax, it can not go under 250 Post by: alphawow on January 13, 2015, 11:53:12 AM Price will continue to go down at least to 130$, but you should not sell your bitcoins if they are not your last money. Bitcoin made many of us rich and we should not forget that when it needs our support. We must keep our bitcoins and we must continue mining, otherwise bitcoin will totally fail... Why use a newbie account to post that ? You could have very well posted from your old account. Don't be ashamed saying that you don't like bitcoin. My old account was banned for no reason and I din't use this forum for some time. I have only this account. I like bitcoin and I will continue mining, and will be keeping my bitcoins even if price is down to 1$. Title: Re: Relax, it can not go under 250 Post by: GGGGG on January 13, 2015, 11:59:23 AM It's hard to relax when your ship is sinking
--- The Real O.GGGGG here: my account was hacked and the above post was not made by me. I have recovered the account with the help of the admins. Title: Re: Relax, it can not go under 250 Post by: oda.krell on January 13, 2015, 12:00:08 PM Super please MtC is back on the train! N00b sentiment is easy to ignore... experience not so much :) Did I just read that MtC went all-in at 250?! Everyone, BUY BUY BUY! Also, welcome back Mat. Title: Re: Relax, it can not go under 250 Post by: MatTheCat on January 13, 2015, 12:11:48 PM Super please MtC is back on the train! N00b sentiment is easy to ignore... experience not so much :) Did I just read that MtC went all-in at 250?! Everyone, BUY BUY BUY! Also, welcome back Mat. When I added the emboldened tex below: Playing with pennies that I left on Bitstamp for Silk Road purchases......I am currently the proud owner of 1.3 Bitcoins! (edit: ooh...the price is starting to turn back down.......SELLLLLL!!!!!!!) I wasn't joking. I was the proud owner of 1.3 Bitcoins, but now I am the proud owner of $300, some $3.50 less than I had in my Bitstamp account this morning. Yet another loss on a Bitcoin trade for me! I really need to keep away from this liquidity sink!!! Shorts exiting their positions aside, perhaps no meaningful bounce will come as sentiment is as low in Bitcoin as I can ever remember it being.....perhaps it goes into mid 100s before this week is out. Title: Re: Relax, it can not go under 250 Post by: jjacob on January 13, 2015, 04:06:51 PM After years of supernormal profits, maybe 2014 and 2015 are not meant to be Bitcoin's years. :'( Title: Re: Relax, it can not go under 250 Post by: semaforo on January 13, 2015, 07:00:12 PM Yeah, we can't know what the market is like until the chart forms. I have a lot of faith in the core of believers, but yes, there are a lot of uninformed and sleazy folks hovering around bitcoin.
There's all the stolen coins getting dumped, so it's not only confidence that causes the shakedown of coins from the weak to the strong hands- there's also the movement from the reckless or inept hands to the cautious hands. I don't really see any emergent factors that would cause the overall price development pattern to change, and according to the past, we could see prices in the double digits. If low double digits, this would be quite anomalous, if high double digits it would not be a deviator from the norm. I do feel kind of bad for what all the people I convinced to buy who don't really get bitcoin have to go through, but wouldn't that be lovely if getting a big payday coincides with bottoming out sub $100... Although in general I think the effect of speculation is quite harmful Title: Re: Relax, it can not go under 250 Post by: jaberwock on January 13, 2015, 07:10:49 PM And it is gone.
At this point I don't dare doubt anything, even single digits Title: Re: Relax, it can not go under 250 Post by: elephantas1 on January 13, 2015, 07:12:11 PM And it is gone. dont worry i can bet that it will not go under 20 dollars because there will always be people using itAt this point I don't dare doubt anything, even single digits Title: Re: Relax, it can not go under 250 Post by: semaforo on January 14, 2015, 06:41:15 AM And it is gone. dont worry i can bet that it will not go under 20 dollars because there will always be people using itAt this point I don't dare doubt anything, even single digits Yeah, again, black market demand alone, without any speculators, believers, libertarians, gamblers, and get rich quick-ers, will keep USD price fairly buoyant. The run up to $1000+ and crash to $200 is still not as severe as the crash fron $30 to $2 was. Title: Re: Relax, it can not go under 250 Post by: crazy_rabbit on January 14, 2015, 06:51:54 AM And it is gone. dont worry i can bet that it will not go under 20 dollars because there will always be people using itAt this point I don't dare doubt anything, even single digits *cough* *cough*. (Sets buy orders at $15). Title: Re: Relax, it can not go under 250 Post by: Jeremias on January 14, 2015, 06:56:58 AM And it is gone. At this point I don't dare doubt anything, even single digits Need more killer apps and a regulation free exchange without KYC, greatest use of BTC is transfer of wealth without the the gatekeepers, donot worry we will get there soon |
