Bitcoin Forum

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no impossible

Why is this impossible?

So is the first response to the idea of Bitcoin. Yet reality "might" hit you with the $30 shovel.

The lowest I ever see it going before BTC loses it's value completely is 60$

$30 - possible but unlikely.

$60-70 ... more likely

I think that $60 - $70 is dangerous, because at that point people might just give up and lose faith, then the value will fully collapse back to single digits.

I can't wait.

nope

I'll go out on a limb and call bottom now at 90

cute when you are shaking

If only :)
Looking at the chart
http://bitcoincharts.com/charts/mtgoxUSD#rg1ztgSzm1g10zm2g25zv
Reverse parabolic 1 day :)
http://www.investopedia.com/articles/technical/02/042202.asp

So funny to see people throwing FUD around...

"we are going to $xx.xx"

"we are going down but not to $xx.xx"

"we have no penises wopwopwopwopwopwop"  :P

I hope so


cheap coins

back to $1 !!!!! (the unrealistic dreammmm!)

So you wanna drag penises to this thread as well.....

Looks scary:

https://dl.dropboxusercontent.com/u/1986074/btt/scary.png
(chart from: http://bitcoin.stoto.net/ )

https://dl.dropboxusercontent.com/u/1986074/btt/scary2.png
(chart from: http://bitcoin.stoto.net/ )

smoothie... do SOMETHING  :'(

The noob is strong in this thread.

I can sell at $30 and still profit.

i will be happy when people stop seing bitcoin as a investment and see it as a curentcy

no no no

wopwop = without penis without penis

HELL NO!

Bitcoin is an investment to the future. However, it is not get-rich-quick scheme in nonbitcoins.

i have a big buy I'm going to make. I'm glad people don't understand bitcoin. they want to make massive money over night with a simple buy. if you need your funds out within 12 months don't buy bitcoin. if u can wait on an investment then Mate your going to be loving it.

My average buying price was $140.....

I rather to see it dump to below 1$..Then I can buy more coin with more FUD to lowering my average cost per coins...

this could be 2011 all over again.




http://bitcoincharts.com/charts/chart.png?width=940.3999999761581&m=mtgoxUSD&SubmitButton=Draw&r=60&i=&c=1&s=2011-04-11&e=2011-12-10&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=0&cv=0&ps=0&l=0&p=0&

A coin below $5 is really attractive to me~~~

attractive if you didnt buy a chunk load above 100 that is.

I bought all coin at average of $140.....and can't able to send more FUD at this moment to exchange~~

I can't imagine the price landing past 80 usd for any serious amount of time.  To be clear I don't suspect we'll go that low.

what's your reasoning for this?  what if the winklevoss twins decide, 'fuck it, lets dump this, we made a mistake.'  then clicks that sell button.

an unlikely scenario, but the thing is dont go into that line of thinking. cos right now anything is possible.

Yeah, call me paranoid >:(  How'd he find out then, huh?

There was two word in that post, and you managed to get them wrong... Oh the humanity!

Wow there's a lot of normalcy bias going around here. I mean seriously? "We will never go under $80, ever" [We were under $80 a month ago.] "If we go under $60, Bitcoin is dead" [We were under $60 less than two months ago, yet bitcoin curiously didn't die.]

I think it's good that we're seeing more desperation and despondency here (those typically mark reversals), but I don't think we are there yet, and there are still enough people here who need to have the optimism shaken out of them. Bitcoin can go a lot lower, AND Bitcoin will survive that just fine.

Hmm 2 dollars tssk

 ::)

Me too.

I hear theymos already registered dollartalk.com for that very eventuallity  :D

Hmm will wait for his ads :D

Obviously people are going to love for Bitcoins to come down, but that's only early adopters. These 'early adopters' are normally looking for a quick rich scheme and are not interested in supporting Bitcoin whatsoever. It's sad actually, I for one want to see Bitcoin strive and succeed. Imagine how awesome it would be going to amazon and checking out with Bitcoin. Yeah, that might not happen but what if it did?

Then we have defeated Amazon Coins
But I understand the sentiment

I predict a bottoming out of the latest downtrend at around 50-80 followed by a return to at or near 100.  That will be followed by a slow grind down to 10-30 dollars and then a rebound to 30-50 that will be maintained for months or years (assuming BTC is not being supplanted by a superior coin, if that happens I see single dollar values).

Remember long term sustainable prices are dictated by the amount of dollars willing to CONTINUOUSLY flow into purchase of new coins, 30 dollars represents the original bubble price adjusted for the new 25 coin block rewards.  120 dollars would have required a half million dollars a day to sustain which is far more then could be asked of the current user base.

I assume you mean half a million dollars of "new" money, rather than turnover. E.g. I mean people trading their coins with others for fiat - but where the total price of those trades is greater by 500 K than the preceding day. I presume this means any current hike (like the one from 12:15 to 21:30 UTC on 9th June) that has rallied to 100 USD, is likely unsustainable? 

yes that would be pretty sweet.

but i'm not counting on it, the way things are going the bear market won't last long, and we will  soon start heading toward bubble #3 in a calm and orderly manner of course   :D

I predict you are all wrong.

If it weren't for the kind of people with the vision to push the price so high in the first place, would we have gotten the attention and interest as quickly as we did? How many projects would've been started that much later? High price increases the incentive for development, even if its initially driven by us speculators. Never forget, I figure many a speculator is simply saving for the big one to invest in. Myself, I plan on joining and supporting one of those new Venus Project or Free State Project like societies

This

Why, since this currency is appreciating? It's clearly both at this point in time

Actually to be technical the framework for some 2.0 development designs might be able to separate them but for now they are always interrelated

How does that work?

Protocol layer built on top of bitcoin, using messages in the block chain to represent transfers of value is one way of approaching it
https://bitcointalk.org/index.php?topic=226215
cvTokens design
https://bitcointalk.org/index.php?topic=197799.0
Freicoin
https://bitcointalk.org/index.php?topic=89843.0

Some other neat stuff
https://bitcointalk.org/index.php?topic=204283.0
https://bitcointalk.org/index.php?topic=88208.0

Yeah, I was just giving a example, maybe I should of thought of another online merchant, lol.

I do hope that they don't try to mimic bitcoin and make their own little ecosystems for their currencies in the long run lol
Or
Corporate Coin - A Conglomeration of multiple entities into a unified corporate system lol

The tragic thing about Bitcoin is *anyone* could copy it -- it's open source.  And if that someone had $$$, clout & a decent PR dept...

https://bitcointalk.org/index.php?topic=226582.0 take a look at this

I said $$$, Clout & a decent PR dept :D

who said i dont have the $ ?

I'm sure you have more than I.  I was thinking more along the lines of Amazon & Google.   ;D

 ::)

http://25.media.tumblr.com/tumblr_m9qlleKpLx1rehlgco1_500.jpg

Its an interesting design the question is how much bloat it would add to the blockchain once the ultimate blockchain compression is developed it might be doable.
(In regards to the loading of the blockchain for new clients any additions to it are not preferred as it takes users days to load it already)

Bitcoin is however a changing and developing technology that builds upon itself and it is interesting.
Satoshidice spams the blockchain and this idea would be another level on top adding to the bloat.

Protocol layer built on top of bitcoin, using messages in the block chain to represent transfers of value is one way of approaching it and the ability to send a text message with a transaction seem correlated so this would probably be one approach that might be merge-able
Colored coins are used for transfers of value, messages would be another design
https://bitcointalk.org/index.php?topic=226215

That said I would also say their are a few ways to implement it without needing the blockchain as mentioned in the links above depending on your preference
And that it might be possible to add to any of them so it is interesting

my plan with credits is to have the mesage feture biult into an a alternative walet so its optinal if you could help in any way with credits i would be verry happy  :)

$40 is impossible :-).  There are only 11M btc now and too much investors/speculators/believers(500k ?) for such a small amount.

<sigh> I spose 4 over the summer i could load up my Seals account LOL.

Unfortunately my specialty is far from coding but more into finance and economics so I am not of much assistance at this stage. Might be able to proof-read a white paper and help with those sort of tasks if your interested.
That said this forum has a very good set of developers and if you are thinking of implementing this idea, would suggest inquiring in the  Development & Technical Discussion thread for developers and to also get high quality responses on average regarding your ideas.
https://bitcointalk.org/index.php?board=12

thanks i will go and have a look

It's proofread.  No hyphenation necessary.

Meant more like these ones
http://bitcoin.org/bitcoin.pdf
https://bitcointalk.org/index.php?topic=56901.0

I was just being a grammar nazi :D  ("proofread" is a single word)

Auto Spell-check sometimes tries to be its own form of Nazi blames it whistles
Or go both ways Spell Check (hehe)
 

Ah missed one
 Project Invictus: a P2P Exchange Collaboration
https://bitcointalk.org/index.php?topic=229315.0

Thanks, reading it now.

I used logic and my viewpoint of history to make that call.  We had a fairly big dump not long ago and the price held strong.  That tells me that people are not easily scared by the price on a day to day basis and are less likely to panic sell.

I watched the price hover at 80 usd on the rise of the "bubble" which makes me feel comfortable making that call.  I'm not worried about the twins selling coins,  I think there is a growing number of people that will gladly buy them.  If they did sell I suspect they wouldn't dump all instantly IMO.

The onky correct answer (for now) is:
Maybe

In the grand scheme of things, bitcoin is currently over valued, and it needs to find a price that matches its real value.

I would speculate that the price, working on a natural trend from day 1 is that the 'right' price is around $50-$60 at the moment.  However, markets don't work like that, and some people think it should be higher, and other think it should be lower. 

The point is, if you want Bitcoin to go up in value, you need to give it some more use that as just a store of some potential value - you need to spend it!

I call the bottom between 25 and 30
But many ppl are expectibg this, so the bottom wil more likely be around 35

What makes me worry is that if the price is steadily and slowly declining (like this seems to be the case) the psychological consequences are unpredictable.
People are now used to sudden drops in price but they all feel it will be up in the long term - if this gets shaken...

(While a sharp rise of XRP -it is x8 since mid April when BTC 'crashed'- may accelerate this trend)

It'll be a very very gradual drop to 30-50, been hovering @ 95-110 for a week now

what do you guys think right now?  it could be, right?

Previous ATH before 2011 run up was $1.  Bottom after was $2.  If we repeat 2011, $60-64 is the bottom.  But that all depends on the bears being able to break $92.

But we have already had that! It bottomed at $54.25, then some days afterwards also at $50.01
Anyone wanting to buy below $60 should be fully loaded up.

I never said I agreed we would see a repeat of 2011, just explained how it would play out if we did.  I've got a little more fiat to deploy, but I'm happy if it rises from here.  If the bears find some favor, that's cool with me too.

Indeed, yes.
But it seems that the recent $50 is an inconvenient truth for some. The 2011 deflate took six months, the 3-day or weekly charts show a beautiful decline arc which terminates at the $2. The 2013 deflate is very different, with wild oscillations around the median of about $110. Perhaps the 2013 deflate is pretty much worked out already (after 2 months).

While I'm still in bear mode, I would gladly welcome a return to an upward trend.

Me too.
I have been wondering if some of the recent weakness is because the block rewards have been churning out at a very fast pace for several weeks especially since BFL has been shipping.
https://blockchain.info/stats
Instead of the expected 3600 coins per day there is 4000-5000
(I know that many are saved - not automatically sold)

Bottom line should be around 75 USD.

The price was around / under $15 for months until January yet now it's impossible.

The more I read people saying it's impossible the more inclined I am to believe that it is possible.

Anti-Miracles happen once in a while if you believe

I'd say if 80 falls then 50 falls, 40 doesn't even hold any special significance other than being below 50.
50 had significance, that's where the rally encountered the heaviest resistance.

for the first time in years im feeling bearish. time to stock up on honey. ....and prickly pears.

Anyone noticed the prices that physical casascius coins are still going for on ebay ... ?

Perhaps an indicator of the broader market?

Or maybe wishful thinking on my part.

I don't see any with bids

Why not?

http://www5.picturepush.com/photo/a/13335133/img/13335133.png (http://picturepush.com/public/13335133)

++

Ouch!

Bitcoin was worth something back when others would only pay $.40/BTC. Bitcoin will be useful as an agreed upon value of currency regardless of the exchange rate to other currencies. Bitcoin wasn't created as something to be pegged to the dollar, but as a separate currency all together. Even if you can't change it into USD, it will still have value and will always be useful.

Agreed ,you can buy cloths over bitfash.com and even buy car and lot of other stuffs, this mean the value is slowly backed by physical items..

not quite, as more people accept BTC for work and goods, it attains an intrinsic value, independent of being pegged to the USDother currencies, and we are only at the very beginning of this


why 1/2 mill a day?...a lot of people wear the cost of production, seigniorage for later percived gains

I think the $100 floor will be hit in 6-5 months max

The exchange of BTC for work and goods only requires the value to be a couple of dollars at current levels. The pure transactional function of money does not require a whole lot of money to be around.

Looking at the number of transactions per day, we're at January's level at the moment, and BTC was about $15 in January. So, the current level of transactional activity can certainly be sustained at $15, keeping in mind that by far most of the activity was speculative even in January.

usually when someone or the CROWD says "we are going to XX price" then be rest assured we will be going to XX + YY price. Just above that price. That is if we trend that far down...who knows.