its time to buy now dude
not only buying everything is ok besides selling huge amounts of bitcoins Not sure if $267 is already a good entry point. Wait until $250 as it may go down a little bit. Patience pays off, trust me.  well yeah i wanted to say that its better to do nothing than sell it what lowers the price We're not discussing the same thing aren't we? I mean, $267 is not a good price to buy back in if you would ask me, not selling.  |
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The unique problem for me is the "knowledge" of the bitcoin itself, if the people start to learn what is , and how to use bitcoin I'm sure they will use if for (example) transfer the money to their relatives/family in other country due the lowest fee. Or for example another use it is the buy/selling for item face to face because the buyer will not be able to make the chargeback (but with a credit card he will be able to "recover" the payment).
Agreed. I remember one time, a friend of mine asked why do I use bitcoin as a form of payment. I explained everything to him and replied that data doesn't have value in anyway and thus cannot be used as a currency. He also told me that why should I use bitcoins if there were already credit and debit cards available? I explained to him the low fees and anonymous transactions. Still he hadn't got the point of using bitcoins because he thought it was just a not-so-valuable form of data valued by many. You should insist and maybe give him some real life example and demonstrate him some transaction (maybe tell him to open a wallet with a mobile application). I'm sure he will change his mind and start to use bitcoin. The next that I'm planning to do is to give him some coins and ask him to buy a gift card from gyft and at the same time ask him to buy the same gift card in the same site but this time using his credit card. I'll ask him how much does each transaction costed him and how fast and easy it is with each other. Maybe on that time I'll convince him. |
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We almost saw a price of 300$, 266$ now, a good time to get back in the market before the huge bull market to 400$ 500$ 700$ then 1000$, it will be violent and fast.
or it will easily just go back to the same 220 dollars and start bouncing again That's how crypto works man. That's just how it is. |
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We almost saw a price of 300$, 266$ now, a good time to get back in the market before the huge bull market to 400$ 500$ 700$ then 1000$, it will be violent and fast.
Do you think it would go any low beyond $260? I'm considering my assumptions that it may even touch $250 during this week before I buy. My gut feeling tells me that it will still touch $250. |
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its time to buy now dude
not only buying everything is ok besides selling huge amounts of bitcoins Not sure if $267 is already a good entry point. Wait until $250 as it may go down a little bit. Patience pays off, trust me. |
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He also told me that why should I use bitcoins if there were already credit and debit cards available?
I guess your friend has never signed up for a "free trial" before? Man gotta love those, FREE TRIAL but we'll make it nearly impossible to cancel and continually PULL money from your account. You can't stop our PULL requests, muwahaha! Bitcoin is PUSH only, no one can take your money. Doesn't matter who it is, gov't bank, netflix, your mother, etc. One-way street where only the owner of the funds can authorize a transaction. A huge winning aspect of the bitcoin protocol. I am telling you that it is hard to explain to a close-minded person. I did explain to him the benefits of using bitcoin but in the end, he seemed to be dumbfounded and never understood even a single-bit of my every explanation.  |
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We're going up. Best tactic is buy and hold.
I don't expect quick big pump, better now is slowly but steady growth with 400$ in April/May.
Me too. A slow and gradual rise is more ideal than a quick growth. It gives weak hands that urge to sell-off due to nervousness and yes, weakness. |
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$272.91 03/04/2015- 5:51 PM EST
Im calling for it to continue coming down for a few days.
$267.87 03/05/2015- 12:40 PM EST More drops incoming. Hoping to see sub-$250 then buy some coins. Maybe I'm just being too optimistic on buying some cheap coins before it bounce back up. |
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If bidders hodls - GOOD
If bidders sells - BAD
Let's see what the big players' take will be in this auction. Oh wait! Isn't it finished already? o.O
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To what point is this thread actually ? Its nothing new, the auction was schreduled a long time ago, and it was known to be bidding today.
The former auctions didnt cause the price to go down, the price decrease was caused by many bad news, articifialy raised price, and scepticism in general.
Yelling alert alert would be something expected when the auction was announced, but certanly not now.
cheers
The thread is mainly for discussion and opinions of others regarding the auction for today. Plain simple. |
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20 million coins would just not be enough to support the whole worlds needs..
Why not? 20 million coins divisible by 8 zeroes is pretty much infinite amounts. That's the whole genius of Bitcoin, it's based on math and can scale to whatever you need. If Bitcoin goes to where we all need it, you won't need to carry around more than a few millibits in your mobile wallet. You don't see people carrying around gold bricks or huge diamonds the size of their fists for spending money, do you?  Haha +1 for the picture! True. Bitcoin is cleverly designed due to its divisibility. It suits everyone's needs and it stretches out the coins in circulation by means of fractions of a whole. But still +1 for the picture.  |
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I love how this thread is right next to: BTC DOWN continue? Why?  Speculators are so emotionally unstable. It's going up and down and up again and down again... deal with it! Emotions are one of the reasons why people who are invested on a certain investment end up losing their money due to emotional impulses. Try to be cold and do not let your emotions rule over you when making decisions that involves money. Trust me, you'll be fine. |
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after going down a few time ago the price of bitcoin slowly going up now, hope it still going up so fast. A rapid rise in the price is a no-go, as it may be a potential pump and might be followed by a massive dump that may crash the price. A slow and gradual rise is ideal and enough, and I like how it goes down a bit just to correct the prices on where it should be. |
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For hypothetical purposes, let's say there are 20million Bitcoins in circulation (it's less than that I know).
A company that has possession of 5 million coins has terrible private key management. Their building burns down, along with it, all of their private keys and backups (again, they were stupid).
I know this scenario is a stretch - but what happens in the future if all of a sudden a serious percentage of Bitcoins are unspendable (and all at once)?
Will we as a society decide to "replace" these coins and put more back into circulation? Or ride the deflation wave? Everybody's coins become more valuable? Even if everybody depends on the value?
Well what if someone or a group invented a way to recover it? Like brute-force or something? We can assume that by the year 2050, someone or something will manage to break at least the tip of such and indecipherable code today. When that happens, an individual or a group has the potential to control all the existing coins in the circulation because they have the power to crack private keys. Wait, am I drunk or something? |
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Hosting discussion regarding economics, economic policies, and bitcoin. Website below... please pm me feedback!
fiatcrisis (.) com/economics.html
Not sure why you've posted this to a forum that already discusses matters about bitcoin economics and other bitcoin-related issues. What are the advantages of using your service or website btw? |
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IMO, public perception. Totally agree with gentleman. Two parts for me: (1) bad rep (nefarious uses and scams/exchange hacks); and (2) no real use case for Joe Public in most developed countries.
(1) will take time to defeat, and will likely depend on how (2) is addressed.
(2) maybe Bitcoin discounts, remittance and gaming/p0rn will help but, frankly, it's a tough sell. Joe public doesn't know how the existing financial system works (i.e. what the problems are). What he does know is that fraud protection and reversible transactions are generally a good thing, so he doesn't see the point of Bitcoin.
Average people doesn't realize that anonymous transactions and irreversible transactions are indeed good things. They are accustomed to banks that charged them with insanely high fees and let those banks take care of their money. It will take time for the average Joes to realize that using bitcoin is one step towards innovation and freedom. |
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The unique problem for me is the "knowledge" of the bitcoin itself, if the people start to learn what is , and how to use bitcoin I'm sure they will use if for (example) transfer the money to their relatives/family in other country due the lowest fee. Or for example another use it is the buy/selling for item face to face because the buyer will not be able to make the chargeback (but with a credit card he will be able to "recover" the payment).
Agreed. I remember one time, a friend of mine asked why do I use bitcoin as a form of payment. I explained everything to him and replied that data doesn't have value in anyway and thus cannot be used as a currency. He also told me that why should I use bitcoins if there were already credit and debit cards available? I explained to him the low fees and anonymous transactions. Still he hadn't got the point of using bitcoins because he thought it was just a not-so-valuable form of data valued by many. |
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I'm a student doing some research on Bitcoin... learning slowly! And I'm trying to draw some conclusions. I'm just wondering what the Bitcoin community thinks is Bitcoin's biggest problem. What single thing would make Bitcoin more mainstream? Is it a reputational issue? Is the tech still too complex for the "average" person? Or is it simply that there is no compelling reason for the majority of consumers to get involved? Thoughts appreciated! Thanks
The fraudulence and scams occurring within the bitcoin economy is too high for the average Joe's to perceive. It scares them a lot, and scares them to stay away from it. You might also want to consider the complexity and the difficulty of using the bitcoin to first time users. There are different jargon springing around here and there, and that makes it even more harder for first-time users to comprehend. |
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What makes you think that a recession in China would lead to chaos and unrest? Recessions have happened in every major civilization and it doesn't lead to death and famine. Japan has fared fine. The US has fared fine. Greece is not in civil unrest. Spain has remained civil. Why do you think China can't handle it?
The market is build through expansion and correction...have a longer term view.
I agree with this. Just because recessions occur in a country doesn't mean that there will be civil disobedience and uproar from the general public. A country should and must be prepared when times like this come, and should later on recover because of such preparedness. Til then there are no reasons for civil unrest, not even recession. |
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There won't be any real estate collapse in China. What's happening now is only a correction. I understand it's massive, but there was a huge imbalance between supply and demand, so we need the market to correct itself. And remember the Chinese economy is still growing much faster than any European country or the US.
You cannot compare China with Greece or Spain. China has plenty of cash, and doesn't need to borrow.
And many people are indebted to China. Makes it even easier for China to recover from such a collapse. |
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