but, no way can this true.
If people treated them as a deflationary currency in its own right as buyers, I think you'd be right. But most listings on SR are tied to a fixed local fiat currency amount. You've got people buying BTC to buy anonymous drugs, a lot of BTC being held in escrow, and then BTC being sold by the sellers to exchange for their local fiat. My point is, there are only so much up for grabs at a certain price point. The price is going up because people are holding onto them, period. Anyway, if I could predict the future I would have bought BTC at 8 cents each when I had the chance. A SR user buys 20 bitcoins and then buys some weed with it right away, the seller of that weed then sells the 20 bitcoin right away. all this dose is support the current price. that's the only effect the bitcoin economy will EVER have on bitcoin price, it will support the price, at wtv the price. if the bitcoin economy sells 1 billion dollars worth of stuff everyday, bitcoins will shoot up high enough so the bitcoin economy isn't messing with the supply needed for speculation. speculation will ALWAYS eat up 90% of the supply. |
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you bulls are out of control
 stay in denial ^ LOL +1 damn did you buy back already? |
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also, whoever wants the price down is digging themselves deeper into their own grave... are you reading?
who ever is buying coins right now and isn't spending them soon after, " is digging themselves deeper into their own grave" bitcoin isn't a get rich quick scheme it a game!  oooh a game? Can I play? I've got bitcoins...how do you play? lol  its easy sell them!  |
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also, whoever wants the price down is digging themselves deeper into their own grave... are you reading?
who ever is buying coins right now and isn't spending them soon after, " is digging themselves deeper into their own grave" bitcoin isn't a get rich quick scheme, it's a game! |
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So sad most of you don't know how to read charts, no bubble here move along or sell to buy higher.
+1 The other thing everybody seems to be forgetting regarding Bitcoin's value is scarcity. Movement this "slow" and with volume only marginally higher means that whoever needs BTC is just buying them at market price, only there's more of it being bought, and being in an uptrend, leaving your buy order a few cents below the ask means it's probably not getting filled and you're not getting whatever you wanted to buy. More people using BTC, higher price. Almost as simple as that. If you want to see a bubble, wait until the false walls are dropped! That'll be a bubble to remember. you bulls are out of control |
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...I think we're getting to the point where demand for it as an exchange medium (i.e for Silk Road transactions) is beginning to exceed available supply...
again i hate being a bear, makes me feel like and asshole... but, no way can this true. |
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This is just a waste of bitcoins.. Most of them will get thrown away and wasted by people that don't understand what to do with them or think it's a scam etc. I think the best method of promotion would be promotion via media, like the video at www.weusecoins.com and www.screwbanks.net+1 5% (if you're lucky) of passersby will stop to look at your flyer. 25% of those 5% might care. 1% of those 25% of 5% will know what to do with a private key. My certainty of these statistics is at about an 80% confidence level, raising the absurdity of this idea by about 47%. But in all seriousness, while an idea like this would be cool for us, you're going to likely end up wasting Bitcoins and time. You'd be better off standing on the street handing out Casascius coins. -1 worst case people see this and think "what the hell is bitcoin" and move along. most likely they will not bother to redeem the PK, but they Might, and if they do they now have a mtgox account ( a big first step into becoming a bitcoiner ) Also it exposes them to paper wallets a must know in the bitcoin world. and if they dont redeem the PK... i will! so i wont lose any bitcoin from doing this if your right. short of running through a mall naked yelling "I love Bitcoin! ", this a cheep and effective way for raising awareness. I agree that's a worst case scenario. I'm just suggesting that handing someone a gift in person might be a better way of generating interest. I like the generosity of the idea though, and I'd like to hear the results. Try it. yes I've had the same feeling behind this idea for a long time. but i always wanted to try it. |
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I liked the "never ending bull run" adam better than bear adam...
He was never the "never ending bull run" or he wouldn't be here now  In order to sustain the never ending bull run, a correction period will be needed every once in a while. |
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I think the wall will be bought. At that has been the trend so far after the recovery from $2.00.
and if its not, will you sell then? you don't think Bitcoin is on a path to new highs? where does all this demand come from that's been driving price up past two month, think it is just a speculation by existing players moving it up? ur right, pure speculation. speculation driven by existing players had us stable at around $5 for almost half a year. there is new interest and demand coming to the market their has been more demand. why do you think the price has been rising now if you think the new money that flowed into bitcoin justifies the high price, you haven't been paying attention. the correction is going to happen, sooner or later... yeah everyone sitting eagerly waiting to hit the sell button lol. there certainly will be a correction, but you maybe taken for a surprise, if you haven't noticed market isn't shaken into panic easily lately - correction may be not all at once trying to sell but gradually, the same way as a smart buyer would not dump large amount of $$$ all at once in to the asks. sometimes market evolves out of old patterns. in any case i welcome those who think the price is overvalued and sell =) i think we will see one or two falling knives. once a bearish trend as been revealed, we'll see a falling knife to 9 and once the market sees the support at 9 is getting thin.... another few weeks of denial, and we'll be on our way. |
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I cant wait to see if anyone takes the free paper wallets off the bulletin board near my place. |
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I dunno. It kinda looks like Bitcoin is awakening.
It sure looks like it what makes you think that? sounds to me like you guys need your eyes checked... |
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I think the wall will be bought. At that has been the trend so far after the recovery from $2.00.
and if its not, will you sell then? you don't think Bitcoin is on a path to new highs? where does all this demand come from that's been driving price up past two month, think it is just a speculation by existing players moving it up? ur right, pure speculation. speculation driven by existing players had us stable at around $5 for almost half a year. there is new interest and demand coming to the market their has been more demand. why do you think the price has been rising now if you think the new money that flowed into bitcoin justifies the high price, you haven't been paying attention. the correction is going to happen, sooner or later... |
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Besides, a constantly increasing world population is NOT sustainable, so let's not base our systems on the idea that it is. Sound good?
Define "world". As a proponent of space exploration, I see things a bit differently. Although making Bitcoin work over a one hour latency is a rather interesting task... just send the message through subspace you gata watch more star trek...  |
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I think the wall will be bought. At that has been the trend so far after the recovery from $2.00.
and if its not, will you sell then? |
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*shrug* A market dump of those 10k coins currently walled up at 12.20, would only bring us down to 11.60 I doubt it'll scare anyone off. Bulls are hungry right now, solid gradual grind up and some decent support for a dump. 60k coin dump required now for us to hit 10, that'll eat a big player no problem its not about scaring people its about competing to sell large amounts of over priced bitcoins and it just got a hole lot hard to sell above 12.20 If I had the leverage you do I would be forcing the bears down and out as well. Sure, let them take profit, but at a lower price while I buy em up cheap  I get that. Would suck balls if you get caught in the run tho ... out at 12.20 and back in at 13. lol. can't play the trading game without taking risk. |
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*shrug* A market dump of those 10k coins currently walled up at 12.20, would only bring us down to 11.60 I doubt it'll scare anyone off. Bulls are hungry right now, solid gradual grind up and some decent support for a dump. 60k coin dump required now for us to hit 10, that'll eat a big player no problem its not about scaring people its about competing to sell large amounts of over priced bitcoins and it just got a hole lot hard to sell above 12.20 |
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 bulls better watch out |
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See now that's what i'm taking about!  I see the bullish chart as not only likely but necessary. The rise has giving new hope for 100$ bitcoins, but before that can happen new money has to come into the market, and for new money to come into the market opportunity must be presented. 7.22 will the opportunity of a life time. |
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Is this a bubble? Will there be a correction?
If you are buying as an investment, then you take what comes with investment -- a risk of loss. Those who buy bitcoins as they need them for making purchases aren't exposed to exchange rate risk, they buy bitcoins and they immediately use them to complete the purchase of goods or services that they needed the bitcoins for. So whether or not this is a bubble means little for them. Nobody knows the future though. The metric that should be closely watched is the transaction counts. They have been rising. - http://blockchain.info/charts/n-transactions-excluding-popularNow the amount of currency to accommodate that level of activity might only be ten million USD worth of bitcoin though (a wild guess). So that would value bitcoins at a $1 each to support Bitcoin's current economic activity. So anything over that is for the most part speculative value. Could it go to $20, or $100? Sure. But until the transaction volumes (and underlying bitcoin amounts) gets sufficiently higher, it is still 90% speculative. Aaaaaaand, if, through a major pump, the price does reach $20, or $100, it will come crashing right back down. There won't be enough bid volume to sustain the selling at those levels and lots of profit takers will be competing against each other to get out. It won't be pretty. this isn't happening these days the manipulation going on is to keep prices lower then they should be as millions of new dollars enter the market. |
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This is just a waste of bitcoins.. Most of them will get thrown away and wasted by people that don't understand what to do with them or think it's a scam etc. I think the best method of promotion would be promotion via media, like the video at www.weusecoins.com and www.screwbanks.net+1 5% (if you're lucky) of passersby will stop to look at your flyer. 25% of those 5% might care. 1% of those 25% of 5% will know what to do with a private key. My certainty of these statistics is at about an 80% confidence level, raising the absurdity of this idea by about 47%. But in all seriousness, while an idea like this would be cool for us, you're going to likely end up wasting Bitcoins and time. You'd be better off standing on the street handing out Casascius coins. -1 worst case people see this and think "what the hell is bitcoin" and move along. most likely they will not bother to redeem the PK, but they Might, and if they do they now have a mtgox account ( a big first step into becoming a bitcoiner ) Also it exposes them to paper wallets a must know in the bitcoin world. and if they dont redeem the PK... i will! so i wont lose any bitcoin from doing this if your right. short of running through a mall naked yelling "I love Bitcoin! ", this a cheep and effective way for raising awareness. |
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