There was a steady downtrend for the last 3 days. I think we haven't seen the short term bottom yet.
So, your analysis is: The price will go down because the price has been going down? That seems like a pretty useless prediction to me, since it will never predict the end to a movement. |
|
|
|
Why would that drop the price of bitcoins? |
|
|
|
Well, I guess it's nice to see that a few other people are making mad profits off of the volatility rather than sitting on the Speculation forums whining about the price.  If the dollar or X stock was crashing you can bet I'd be making profits shorting the swings on the way down. No reason we can't do the same with Bitcoin, until it hits support (whatever that happens to be) and perhaps resumes a RATIONAL bull market rather than the 6%-per-day increase that scares everyone into panic selling. This trading behavior can help stabilize the market because it's hard to initiate a panic sell from $X when there are thousands of basement nerds setting limit orders at X-$2.50 every 5 minutes to catch the knives, and limit orders at X+$2.50 to limit the rebounds. As was said elsewhere, it's like a game of musical chairs and as we get closer and closer to the floor, a lot of people will get left standing We're going to see high volume as more people start to realize "Hey, instead of hanging around on internet forums complaining about the price, I can just make profit$ from the volatility!" It's EXTREMELY hard not to make money the past few days. If you're not a die-hard buy-and-holder, you should be doing it. It's the only game that all the bears and most of the bulls can play together This is a total noob question but how do you make money when the price is going down? If I bought at 100 and the price is 80 now, wouldn't it make more sense to wait until the price is back over 100 to sell? How can I make money if I would need to sell at a loss? Short selling. You bought at 1 at 100, so borrow 1 and sell 2 now at 80, then buy back 4 at 40, give the guy you borrowed his 1 back and now you have 3. There, the price droped but you trippled your bitcoins (minus whatever fee the lender charges). |
|
|
|
It will also have the word 'Bitcoin' in every language in readable font all over the note.
If readable is your goal, then get rid of the floating shadow behind the words, it is hurting my eyes! |
|
|
|
We have all seen the high's and there is no reason we can't touch them again and even shoot past.
That boat is long gone. Was it sailed by a pirate? |
|
|
|
I can't get my fiat into Gox fast enough. I need to buy bad! We have all seen the high's and there is no reason we can't touch them again and even shoot past. It's a no-brainer to buy under $100 right now.
I blame the crazy amount of bank holidays this week and the frenzy of alt-coin mining going on for this amazing buy opportunity.
Maybe instead of waiting to transfer to Gox, you could try to do an OTC trade with someone directly? |
|
|
|
Can't name the people who lost the faith. It's just my feeling that most of people consider Bitcoin a "become rich fast" scheme.
For me success is measured by ability to buy something except fiat money.
So, for you, failure is when the people who had been selling things for btc stop taking btc. Do you have any examples of people removing the "pay with bitcoins" option from their websites? No, for me, failure is when there is no or little progress during a long period of time. I live in the capital of a small European country, but I haven't seen "pay with bitcoin" there. Also, in ur post u didn't address technical issues. They seem to be unresolvable. What technical issues? |
|
|
|
> Is breathing helium bad for you?
While I agree with everything you said, how about impurities that normal helium (such as "Balloon Gas") may contain?
I suppose it is pumped and compressed by lubricated pumps and contains a certain amount of oil-as-vapour. Would this be bad for you and is it even true?
What other impurities might commercial Helium contain ?
My guess is that you breath as many contaminants walking beside a busy highway as you do from sucking a balloonful of helium. People suck lungfuls of tobacco smoke daily over the course of decades before they develope lung cancer, so I doubt the traces of things in a balloon would do anything noticeable. |
|
|
|
Can't name the people who lost the faith. It's just my feeling that most of people consider Bitcoin a "become rich fast" scheme.
For me success is measured by ability to buy something except fiat money.
So, for you, failure is when the people who had been selling things for btc stop taking btc. Do you have any examples of people removing the "pay with bitcoins" option from their websites? |
|
|
|
People lost their faith in Bitcoin. ... For me it's obvious now that The End Is Near. Bitcoin failed, time to move on...
What people? Does bitcoin care? Before you say bitcoin has failed, first you must define what a success would be for bitcoin. To me, a successful bitcoin has the network running securely, confirming transactions in a timely manner, allowing me to send value across the globe or store value securely until I need it later. We have achieved a small amount of success, but there is still room for improvement. Right now I can store value as bitcoins, and I can send those bitcoins, but these features are still limited.To be massively successful, bitcoin will have to gain these things: 1 - There should be worldwide consensus that bitcoins hold value. This is just a matter of the vast majority of the world acknowledging the existence of bitcoins, and that they do in fact represent value. Not everybody has to own or use bitcoin, just that when you mention you want to pay using bitcoins they understand what you mean and have some way to receive the payment. 2 - Good exchanges should exist for all localities. Local laws and monetary conventions are different all around the world, so each locality needs to have an exchange that conforms to their own rule-set. Bitcoin will function best when there is a way for anybody in the world to move from bitcoin to their local currency (or the other way around) without much trouble. 3 - The value of bitcoins should be stable. Putting money into bitcoins should be regarded as simple saving of value for the future, not as an investment (something like gold is used today as a way to save without being subject to inflation, hypothetically). Changes in the USD/BTC rate will reflect how well or poorly the USD is doing, and not how much attention BTC has gotten in the news. In conclusion, the network is still running and there are people who are willing to exchange btc for something somewhere, so bitcoin has not failed yet. I find the blue font color lends a lot of credibility to this argument. Only a counter argument in a red font could convince me otherwise.
EDIT: Added the color just for you  |
|
|
|
If someone bought some BTC at $140-150 they are not 'weak' for selling when it's obviously crashing out from underneath them even if they sell at a loss.
Only a stubborn fool would hold onto a bad investment when it's obviously crashing / collpasing in value and you can buy more back cheaper if you sell and potentially make much greater profits in the long run. Knowing when to sell at a loss is very important thing to know. The key is to decide whether it's just a large fluctuation or a much rarer collapse.
For example : If you purchased 100 BTC at $150 and sell them at $115 you initially spent $15,000 and end up with $11,500, a loss on that trade of $3,500.
If the price goes down to $80 you will end up with 143.75 Bitcoin (instead of only 100) assuming you buy back in at $80.
Then you only have to sell at $104 to break even and you have more Bitcoin so as the price rises in the future you will make much more profit than had you been 'strong' and held onto your initial Bitcoin like some kind of idiot while the value crashed through the floor. By the time the price rises back to your initial purchase price you will have much more profit by doing this.
Except, you never know when the price will change direction, and how far it will go. What if, in your example, you purchased 100 BTC at $150 and sell them at $115, and then the price rises back to $200? Now you have no btc and $3500 less than you started with. |
|
|
|
Solution: Shutdown computer, set it on fire, throw smartphone into the silicon bonfire u just made, check price after 1 year, btc= 1000usd , magic!  Wait, are you supposed to make a backup of your wallet before this, or does the price go up only if you destroy all the bitcoins you own? |
|
|
|
I hope that everyone's at least taken a small profit in dollars at this point. It makes the long, slow side much less painful.
Everybody should have made profit in both bitcoins and dollars. If you do things right, you end up with more dollars than you started with and also more bitcoins. |
|
|
|
Not looking good at all, already touched 108, probably back to below 100 if no buy support...
*goes to a dark corner, curls up on the floor and whispers repeatedly "I believe in the bitcoin, I believe in the bitcoin"*
If you think the price going down is bad, all you have to do to fix it is send some USD to MtGox and buy the coins until the price goes back up to where you want it. |
|
|
|
Indeed, 0.03% and not 3%.
x 365 days, it comes to 10.95% per year that I pay on that loan.
FWIW... in Excel, (POWER(1 + (0.000003/0.01), 365.249) - 1) = 11.5785% From Namworlds perspective, since he is not selling more of the bonds right now, it makes more sense to use the non-compounding formula, since that is what he is actually paying. This is about the same APR that I have on my credit card, which is reasonable for a personal line of credit (as opposed to some people who think 7% per week is more reasonable because ... bitcoin!). |
|
|
|
Some of us have been using the term mBTC since 2011. I now prefer to abbreviate it as mB since that is more compact.
My guess is that the price of a dollar will drop to 1 mB at some point in the second half of this year before rising back to at least 2 mB.
The dollar is currently trading at about 7.2 mB.
^^^ This way we don't sound so bullish Hey, I am not a bull, I am just a dollar bear. |
|
|
|
i' d say 2012 or later, but i hope by then bitcoin is seen as a Currency, not as a speculation or a 'money laundering'
Made it to 250 in 2013 & still not considered as a currency ! Depends on who you ask. Some people consider it a currency, some people do not. |
|
|
|
Bitcoin will return to obscurity.
Disclaimer: not that I personally want it to happen. Just a theory based on some reading and observations.
That's only to assume that no transactional use of Bitcoins will emerge by the time fanfare is gone, which is an unlikely scenario. Right. If people develop uses for bitcoins, then they will keep using them after all the hype goes away. Once everybody is familiar with what a bitcoin is, people will just include it into their business and it will become a boring, steady backdrop to the worlds finances. |
|
|
|
|
High: 11 mB per dollar
Low: 0.9 mB per dollar
(Currently we are at 7.2 mB per dollar)
OP: The title is a bit ambiguous, I understand this is supposed to be from now until the end of April, 2014, but the way the title reads it looks like it should be guessing the range from Jan-Dec 2014?
|
|
|
|
 The price has been sticking to the trend we started in January pretty well. If it continues, we should see $200 in May. Your line is meaningless. That is the trend which was followed in the past, there is no reason for that trend to continue. That trend ended about March 20th, when the price transitioned to a trend which follows a horizontal line at about 140. As with previous price moves, the price oscilates back and forth above and below the new price point, getting tighter and tighter as time goes on. |
|
|
|
|
Show Posts
