I don't know enough about stocks to judge that.
Price go down = bad. thanks!  Seriously it's not that easy - I think. All I know there is more to a stock that the price, like dividends, the way they are payed out, the distribution of shareholders, etc.. And there is more to a company than its stock - obviously. What I also know it's not like the price of bitcoin. |
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Great, more people who don't understand markets or currencies. Bitcoin will not be stable until it is at a MUCH higher valuation. You come across like an angry emo kid in the OP, so if the price action bothers you, just leave bitcoin for another year or so.
When mBTC is $1 then we can talk about stability. You can daydream all you want about a slow, stable increase of 1%/month for the next 10 years but the fact is, people want Bitcoin and they want it now, stability just can't happen at $0.01/mBTC, bitcoin is behaving like a penny stock but since its value is displayed as a mature stock, it seems to be far more volatile than it should be.
Oh I see you like big numbers too. It's fascinating to see the this cargo cult evolving. |
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What was the open price on 18th (today)?
There's no such thing as an open price with bitcoin; it's traded 24/7. We count the close as 00:00 UTC and it's useful though arbitrary. Well, there is the incentive to manipulate prices to meet this target, so its not truly arbitrary. |
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I think they are mainly concerned with the competition. (No not Bitcoin itself, stupid), but rather the lots of small electronic cash providers who are attached to Bitcoin in one way or the other.
Paxum, Dwolla, OKpay, and so on.
That is a good point and they would be smart to act quickly. I'm not sure but my gut says they won't. Their profit margin is simply too high to be thinking about direct completion. My bet would be some sort of marketing campaign. Not even close. Take a look at their 7-year stock ticker. They're hurting. http://www.nasdaq.com/symbol/wu/interactive-chartBitcoin as their back end transfer mechanism could save them a ton - and the logical step from there would be to own the exchange market more solidly than Gox has ever dreamt of. They could do a lot worse. Actually, they are... I don't know enough about stocks to judge that. But I imagine their shareholders wouldn't react too kindly to something like that, even if it were possible. Those people probably are holding the stock because of it's a "conservative" one, those who are looking for a speculative stock are long gone anyway, and I doubt they will look back. |
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I did get one of my BTC loans returned to me. Must have hit someone.
Now that it is so high, time to borrow more for the big crash! Borrow borrow borrow!!!
You are one evil bastard, lol. |
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Don't be silly, ph is an EA.
What's a EA ? I think he means Early Adopter. |
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I'm a bear too, by intuition, although I stopped acting on it.  |
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Was somebody here using bitfinex in the wrong way? Tell me?  |
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I think they are mainly concerned with the competition. (No not Bitcoin itself, stupid), but rather the lots of small electronic cash providers who are attached to Bitcoin in one way or the other.
Paxum, Dwolla, OKpay, and so on.
That is a good point and they would be smart to act quickly. I'm not sure but my gut says they won't. Their profit margin is simply too high to be thinking about direct completion. My bet would be some sort of marketing campaign. |
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I think they are mainly concerned with the competition. (No not Bitcoin itself, stupid), but rather the lots of small electronic cash providers who are attached to Bitcoin in one way or the other.
Paxum, Dwolla, OKpay, and so on.
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I think that last oscillation means that was it already.
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Look at what we have today:  credit goes to humanitee for that one. |
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Vielleicht ist das ja in Wirklichkeit Akka der ein Spiel mit uns macht? /tinfoil off |
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Riecht wie ein klassischer HYIP scam.
Mal sehn wieviele Idioten diesmal drauf reinfallen.
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Won't happen. As shady as it is, somewhere, somehow there is always the possibility to transfer money into and out of even more shady enterprises than bitcoin exchanges. The whole black market (no not the puny stuff on tor) depends on it and in a way the system of multinational cooperation, and the war machine depends on the black market. It's just a cat and mouse game which goes on and on and on.... or to better say two anacondas trying to devour each other. The eternal battle between chaos and order.  |
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I think the most important part of why the thread was so filled with rants is that ppl were trying to influence others to take one particular action.
It worked very much like the btc-e trollbox.
OH I almost forgot: SELL SELL SELL!
In that sense wouldn't it be bad to use a self-moderated thread for this purpose? I don't want to bash adams thread, couldn't care less where we hang out, but generally speaking, could that become a problem at some point? I can't see the harm if he likes to have a civilized thread here he should try. It's a fight against the windmills imo, the majority of this whole forum is filled with it and I don't think this will change any time soon. It was just that during the end the thread got the brunt of it, for the better or worse. |
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Ok lets say we go down from here 1% a day for a year. You bought all the way down prices are now 2.6 dollar, at which point do you stop?
He wouldn't really need to stop as, by your calculations, after a few years he would be able to own all the bitcoins in the world for almost nothing. It won't be 1% daily for that long. There will be ups and downs, obviously and some floor. Everybody has a plan, mine is to play volatility and earn some extra income. I have no idea what his plan is... retire on it? The point I am trying to make is: As for as store of value bitcoin isn't well suited, not because of it's volatility, that is only the symptom. There is something called elasticity of an asset. What it tells you is how much prices influence demand and with bitcoin that is very high, a very high elasticity. Low elasticity is something for which there is always demand, regardless - the things out society is built on, machinery, energy, and land. Of course they are subject to their own bubbles and pops but it is nowhere as dramatic. |
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I'm going to continue to buy as the price goes up.
And what will you do if it doesn't? I will still buy. Why? Because that means the price is low and it's the most opportune time to buy. I'm not saying I would have bought above $200, I use my brain (sometimes). The fundamentals look stronger to me than they have in the past, and much stronger to me than they do to you. That is most likely the cause of discrepancy. Ok lets say we go down from here 1% a day for a year. You bought all the way down prices are now 2.6 dollar, at which point do you stop? |
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