this means bullish for the long-term, which i can agree with. unfortunately we are severely short-term overbought, are in the midst of a minibear, and are encroaching on an extremely important mid-term support. if you really want the market to do what you want, take your cash and put a wall at $120, else we'll possibly crash right through later today.
Well, since I think the number of bitcoins is important, and not the price of them: - I have already invested all I have, in bitcoin; a BTC500 worth of puts written is the most I can do today. - I could not care less if it crashed to $10; probably I would just work a little more (to earn more bitcoins as I can earn more per hour), and spend a little less time just living luxuriously for the testimony (which is the more expensive, the lower USD/BTC rate is, as costs are measured in dollars). I will soon go to the spa wing. Nobody bit the offer for cheap puts  I nearly bit. Whats the current put price/fee? |
|
|
|
So, thats your problem!? Others are coming onto "your" turf and you dont like it that others who have money and want to make money are buying from Mike and reselling them to the "noob trend followers with money to spare"? The "rest of us", as you stated, I assume had the market cornered and were the only people who had the "goods" and were making a KILLING. Maybe not you per se, but others here who have posted. Now that Mike has opened up the vault door for others to buy from, it's rubbed some people the wrong way. Competition is great. Monopolies die hard and fast.....
It's a shame, but them are the facts of life.............Again, no offense to you or others. I applaud Mike in giving myself, Joe Blow, and Harry the Hippo, the opportunity to buy DIRECTLY from him. I can store them like others have in a vault for 50 years or re-sell them via a # of places online or to local people in my area. The choice is ours, thats what makes it great!
Ha! You could find a deep end to go off of in a baby pool. Is English your first language? If not all is excused because it seems you are not picking up on the colloquialisms. Everything you are complaining about follows the phrase "in our heart of hearts" which implies self reflection and is best displayed through hyperbole. I was making fun of stereotypes. Something that might be evident if any of my previous posts or even the first part of that post was taken into account. JustJake. Your comments are lost on me, mate. Sorry. |
|
|
|
In any event, and like i said in his thread, theres a risk of damaging brand Casascius. The latest actions, for me, just chip away at the magic, and i say that with huge regret.
I don't want the magic to die either. This is how the problem looks in my mind: what kills the magic more, being eternally out of stock, or having a price most can't afford? I put the price on my website intending to either get orders, or not get orders and be forced to lower it or do auctions. This isn't me trying to jerk you guys around - discovering the market price is an essential function of a sustainable market. Nobody is complaining when people put in BTC sell orders on MtGox for $500 $1000 or $1000000, everyone recognizes that these prices simply won't get paid until the market decides they are correct. Me doing the same is nothing wrong. I am sure there are many watching this thread who will be disappointed to know that I have received paid orders at the listed price for a number of rolls in the double digits (in other words, at least 10) in the day and a half it's been listed. So, the market is saying, at least for the time being, that that's an acceptable price. Nobody knows what the future holds and maybe this was pent up demand that will wane, I can't know for sure. But I plan to hand-make coins at the same rate I've always been making them, and since I can't do much with them just having them sit in inventory, will lower the price if they stop selling at the listed price, all while I look into automation and hiring to increase the possibility for more output. Scaling this is something I think would be the best duty I could ever fulfill with the extra windfall the higher market prices bring. Meanwhile, I anticipate competition...I'm not doing anything to discourage it...(other than insist they do a damn good job and not to give phyiscal bitcoins a bad name). Once again, thanks for the transparent response, particularly, the paid sales mentioned. I don't expect to find out the answer, but i wonder who that 'market' was/is, who think that is current fair value. Coming from a very small scale re-sellers point of view and experience, the retail market appears to have a cut off point at x2 face value (UK), where x1.6/7 sees decent conversions. So maybe there is a new floor in the price of Casascius coins, or maybe those orders are from corporate interests from recent publicity, or "these noob trend followers with money to spare" which JustJake mentioned above. Point being, the latter two 'markets' are distorted and/or what rpietila said earlier....elite. If you are considering the wider Joe Public retail market, then you will understand that some interested re-sellers are feeling squeezed out. If you do intend to scale up production, you need reliable, and consistent re-sellers, where they take care of price, and you worry about reliable and quality manufactured supply. Thats how healthy symbiotic markets work, and it works for the benefit of all. Hey, we all have our own agendas, and i know nothing. |
|
|
|
$135 wall is shrinking rapidly. Good bye $140s for a while I guess?  Really should have sold at $146. I'm taking this as a lesson though...never be too greedy. (Bought at 128) Bernard Cribbins? |
|
|
|
This is for bitcl1234oinfever and it is not meant to be sarcastic in any way.
From my experience (and I see it in Mike's comments) it is really hard to put the correct value on your own product. You want people to buy but you also want to make sure you are maximizing your own value. It is really easy to make incorrect assumptions about what people are thinking and the hardest customers to read are the ones who did not buy anything. There are so many reasons to not buy something, most of which you have no hope of addressing.
Now I could have just sent a message to Mike myself about my concerns but the issue with that is I am one data point with my own whims and fancies and you can't just cater to one data point. I thought I would create this thread to consolidate feedback from multiple people. I was fully expecting some people to chime in saying, "no, this actually works and here is how." I was also expecting people to chime in with varying levels of emotional baggage. Whatever, it is all feedback and I am pretty sure Mike is the kind of guy who knows how to parse and use feedback. This stuff is gold for a business.
In any case, I hope that Mike is able to use this. For me, his rolls of coins don't make mathematical sense to purchase as a wholesaling option. I think others have agreed. I am sure Mike has other feedback in the purchase rate of the rolls.
Well put. |
|
|
|
What part of "Wall Observer" am I CONSTANTLY misunderstanding?  In the UK, it would translate into the 'Wally Observer' ! |
|
|
|
I do agree - awesome idea.
For those of us that are a wee bit paranoid, please release a standalone version that I can run sandboxed on a computer w/o internet connectin and import the tpaddress' privkeys into a wallet of my choice, so I am in full control.
Ditto |
|
|
|
Less futuristic, how about if someone starts throwing cannabis seeds by the thousands out the window of a small airplane on a rainy spring day. Somebody could do this today. Come summer, the news will be reporting about how there's been a mysterious crop of marijuana showing up in the yards of everyday families. Is a jury going to send them all to jail?
Excellent idea  I think someone will ever do this to prove absurdness of the laws passed by govt! Im watching the news a little more closely, in 3 months time!  |
|
|
|
+ I am routinely selling non-collector (2012/2013) casascius for about the following:
BTC1 = 1.50
BTC5 = 6
BTC25 (2011 but with correct hologram) = 28.5
IMO those prices are spot on for a retail buyer. How much would you charge for a 0.5 coin? Tough one  Molecular says he does not want to charge BTC1 and I also think it's excessive. His idea was .85, don't think it is a good one.. But there is no sweet spot sub-1 except .75 which would be akin to giving them out at cost. If I had them, I would perhaps go for 0.9 or keep it as a strict collector's special at 1. My experience on 1btc sales kinda showed a sweet spot of around 1.60-1.70. The price correction/crash saw that reduce significantly, along with interest. If someones selling for x2, where do i buy their sales technique?! |
|
|
|
+ I am routinely selling non-collector (2012/2013) casascius for about the following:
BTC1 = 1.50
BTC5 = 6
BTC25 (2011 but with correct hologram) = 28.5
IMO those prices are spot on for a retail buyer. How much would you charge for a 0.5 coin? |
|
|
|
Just please tell him (to Mike), how you (the critic) would have done it??  This one guy is overwhelmed with the demand and realizes that his services are worth more than he previously asked for them. I also raised my prices when I felt the pressure, now I am able to make one deal per day (+the aftermath) and still take care of my daughter... Ive got no business telling anyone how to do it. Mike will do, and has every right to, charge or do whatever he sees fit. All i can do is question over-all value, decide what value is left for me, and judge what value can be passed on. Like others here, that question has obviously been answered. |
|
|
|
I got the announcement that Mike is selling Casascius direct again but at a minimum of 50 coins. Then I saw the prices. Wowza!
Let me say right now that I am a huge proponent of letting the market decide the price and I certainly don't begrudge Mike on his choice of prices. I am interested in the general sentiment. Are the prices too high for other people? I want to resell these as individual coins and I don't think I will be convincing individual buyers that my margin plus Mike's margin is worth it. Right now it sits at 1.26x for the 1BTC coins and 1.52x for 0.5BTC coins.
Mike's coins are excellent products and I did order a 25BTC coin because the margin was very reasonable, but when I made that order I actively decided to not get any of the roles of coins. Take that as feedback Mike. Hopefully others will chime in.
Those prices kill any chance for so called 're-sellers' to make a market. 1.52x? Thats way over the recent Casascius auction ( ) prices, so 'letting the market decide' does not seem to apply here. In any event, and like i said in his thread, theres a risk of damaging brand Casascius. The latest actions, for me, just chip away at the magic, and i say that with huge regret. |
|
|
|
"Phycoin" rolls off the tongue better than "Physcoin". That just sounds like fizz coin.
And the more i say it out loud, the more i like it..... "Ere Dave, you gotta couple of Phys, mate?" or "Thank you sir, thats 2 Physcoin change. Have a nice day". Edit: How about 'Crypts' ? Crypts or cryptcoin. Cryptcoin seems to stutter in the mouth, so Crypts for me. |
|
|
|
Thank you for taking care of my finances. I managed to buy BTC700 at about $134.5 so I am cool for now, and let the price rise.
Decent decision, 700 is all you've got? Wasn't that more like 2500 i' ve read somewhere? I think he meant he just now added 700 more to his stack. Nah, I was short BTC774 from wednesday I guess... and because we spent the rest of the week in that posh hotel I did not have time to close the short. But the good thing is I sold for $153 and bought back at $135 so it's kind of good, considering that I made premiums on both ends also. For people who still believe in your lies, you fucking supernode psycho: Must have been the.........other bloke! |
|
|
|
you just come across as a very immature child
 |
|
|
|
Outwhat?
OUTSIDE! Kind of a new MMRPG... The graphics are amazing Imagine you take off your vr glasses and NOTHING CHANGES! I just went to check it out for myself - I don't mean actually going outside myself but drawing the curtains and looking. It looks really impressive. I could see people standing outside the church doing something I think they call conversing; likewise people sitting at tables outside the pub with what I think I remember from the old days is called 'a pint of beer'. Across the road outside Tescos were three members of staff wrestling with someone, trying to take from her a rather full looking wheeled shopping bag (she eventually let the bag go and ran). In the meantime on the pavement of the junction a child was having a tantrum not wanting to hold his mother's hand to cross the side road. And all the time lots of people and cars and buses going by. Two minutes filled with loads of colour and life. So why is watching some numbers go by and a squiggly line gradually move up or down or sideways - interspersed with reading what people are writing about some numbers and a squiggly line more compelling than going outside and being part of so-called 'real life'? Wish my Tescos had that kind of action! Being able to observe the world outside, AND be plugged into something that thousands of others around the world are doing right now, sounds like you have the best of both worlds! |
|
|
|
|
Lets give it another go.
Cheers
|
|
|
|
|
No where near as fundamental, as i thought. Cheers Mike.
|
|
|
|
Regarding the year, is there any milelage in counting backwards to when no more Bitcoins will be produced? So this year will be 2140-2013 = 127. Or you could express it as 'T-127' Next year T-126, and so on.
It would add a conversation piece, which has real value, as it happens to be a fundamental truth/fact.
We dont know exactly what year the last bitcoins will be mined. But perhaps we could use the % of coins minted to date. Yes. I was thinking of some kind of symmetry with the number of blocks completed, also. Without going off-topic, is it fact that successful mining COULD take place before 2140, and fundamentally CANNOT after this date? Is my understanding correct? |
|
|
|
|
Show Posts
