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Every time a post like this happens, bitcoin goes slightly in the direction the poster advised for 10 or 20 cents, then it falls about 150 cents in the opposite direction.
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@nighteyes
PayPal wanted to do that originally when they first started, before they did online payments, when they were called Confinity. They ended up not doing it, probably because of credit card and echeck fraud. But bitcoins solves this, provided that the wireless signals are not intercepted.
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Amen. The whole notion that $4 or $5 is cheap while $30 would be high is, quite frankly, laughable. Its not a stock you can measure against P/E ratio's, its not a national currency you can measure against gross domestic product. There really isnt any yardstick.
It's based on how much someone will pay for it. I'd personally love to buy a million coins for $30 each and if I had $31 million dollars I seriously would. ($1 million extra for the Gox fees). I don't have pretty much anything moneywise to buy coins or I'd be buying them back to $8. |
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It's panic selling, matt.
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In one or two months it might bounce back up to $5-6, you think?
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Typically what it does is it stagnates, which is horrible and I just hate this.
Then suddenly it drops. Then when it hits bottom, it jumps back up. Then it stagnates.
I really hate the stagnation. I don't have tons of coins to try to break the stagnation, so I don't know what else to do except to sell my coins and wait for eons for it to finally move and drop.
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Yea, 6000-7000 transactions a day from miners wanting to sell their coins and pools sending them out.
Has anyone analyzed those transactions for any clue of what is going on with them if possible?
I've spoken to miners and most claim to be saving them for a price rise. There are a lot of people selling on MtGox. I don't know if it's hackers or investors. |
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It was stagnating around 5.50 for a while. Nobody was trading, just people moving buy and sell orders around. Occasionally bots would move them right next to each other, than immediately cancel. But no buying or selling really. Sometimes they'd accidentally cause or buy or sell and then immediately cancel.
Then it turned out it was one guy who had all the buy orders from 5.01 through 5.45. He cancelled all of them at the same time. Prices crashed and a some people panic sold, but other than that just bots pretending to sell by moving sell orders around.
Interesting things:
1) One guy had all the buy orders that had been propping the price up above $5.
2) Most of these buy and sell orders are fake.
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It jumps randomly somewhere each day and then stagnates for a day, then repeats.
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It is one of the great failings of investors and economists. To predict the future they grab data from the last X days and just extrapolate it. There were many justifications for bitcoins zooming up in price and many reasons given why it simply could not fall.
But that's hindsight bias. It's a logic flaw. |
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Wednesday is the day to rally. It will keep going up up up and up!
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It won't even move more than 1% in value a day anymore.
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How do you do the taxes for reporting the purchase and sale to the government when the purchase is purely in bitcoin? If it's reported as a gift, then there's a gift tax typically.
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where can one see what is for sale? just slap up a very simple web page showing the pieces and the
price next to it with your email address to work out a sale.
you have to take a risk here.. buy several pieces and put it up for all to see with a price tag please.
This. Get some free website and list your items. I won't buy till around Christmas. |
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I'm mining at deepbit with my 4586.60 MH/s
I think your signature exlpains why you were so angry. |
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You two assholes need to give helpful replies instead of trolls.
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