It has to depend on their capability to crash the market, we can't just assume someone with 300K BTC holding will magically appear and crash the market, there are only less than 10M BTC in circulation, and we have seen quite a few 100K size dumps which did not crash the market. I doubt there maybe only a few out there holding more than 100K, and hardly anyone holding more than 200K.
If you think about it, that's the ingenuity of this system: sans any systematic failure, or new competitor with groundbreaking advantages, any large-scale selling just reduces the probability of a future market crash, as the bitcoins will distribute into more hands more evenly, and this system, unlike a corporation stock, potentially has no single point of failure.
+1 (As usual). It is so nice to wake up seeing wisdom being talked in the forum... What do you think, price tested $100 twice, anyone believes it will crash...?  ...if you do, I can write puts for $100 for a hefty premium and escrow and all that stuff yeah, but lol, you can secure your gains without needing to sell if you don't want to. Any takers?? |
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Yes, bought another 2 today.
We just beat the psychol. barrier of $100. Barring extremely bad news, the coming 1 or 2 weeks surely will only display a steep rise so this is an extremely good time to buy. Waiting for the next dip IMO is not worth it. Very likely, the next dip will be in the next weekend or the weekend after that and will only dip down part of the gain made in the meantime. In other words, even if you happen to guess the bottom of the dip perfectly, it will still be more expensive than today.
+1. That bitcoin is expensive, can only be justified by looking at the price per 100,000,000 satoshi. It was named "1 bitcoin" for convenience a long time ago. As more people adapt bitcoin, it will become convenient to change the decimal place. By far a more reasonable metric is to price in milliBitcoins: the price just went up from $0.01 to $0.10. It is still a microcap, there is great risk, you can lose everything that you put in, the possibility of a bubble cannot be ruled out, .. But also: to gain actual mainstream credibility, the minimum target is $1/mBTC which is $1000 per BTC. In anticipation, I will be slowly buying more. |
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When bitcoin went past $10, I got interested and bought. My plan was to sell some at $50 and ride the rest.
When it went past $50, I decided to go all-in instead. I decided that I will buy as many as possible before it is $100.
When it got past $100, I spent my last EUR 10,000 in the exchange, buying more.
Now I have a problem. I still have a lot of value in other than Bitcoin. But the price is kind of high.
Probably I will slow down buying, perhaps to 10,000 per week or so.
But as it goes past $200, I will probably just change my mind again.
Insatiable desire to buy bitcoins...
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Verification is not even necessary for such small sums except from Europe. I would say any European that bothers to try his luck with Gox has on average $25,000 or more to invest. Otherwise they would just get verified with Bitstamp, which happens in about 2 days..
No, I am verified, and I invested significantly less than the sum you suggest. Please tell me more about it! In Sep 2012 I spend a good 30 days trying to get verified w/ Gox (finally with success). Did you also do yours at that time? Because now I don't think it is very prudent to wait this long as prices are increasing.. |
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I'm wondering what the average amount of money is those standing in line at MtGox are going to invest in Bitcoin. $1000 perhaps?
Verification is not even necessary for such small sums except from Europe. I would say any European that bothers to try his luck with Gox has on average $25,000 or more to invest. Otherwise they would just get verified with Bitstamp, which happens in about 2 days.. 8,500 * $25,000 = $212 million and counting. Yes, it will take us to $200. |
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It will certainly not drop below 10 before next week. The buyers are strongly in control, as the bank holiday hinders the delivery of merchandise to the exchanges. When the influx of dollars to be sold resumes on Tuesday, we will see some serious action to the downside. I don't think 10 will hold for long. In general, I see that the only thing that hinders the crash from accelerating, is the inability of the exchanges to clear enough dollars to be sold.
The prediction was too conservative, it seems that the sellers are in charge now.. |
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101$  Ah ok, then my price was not that bad... ESPECIALLY AS OTC I SOLD FOR EUR 87.5 PER BTC TODAY oh sorry for caps  |
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I bought EUR 10,000 market order from Mt.Gox(EUR) a few minutes ago... ...making a new All-Time-High in the process Checked that my average price excl fees was about EUR 79.15 ($101.3) - I think it was a little bit dearish, but fun  LOL slippage of 2% LOL lost EUR 200.... |
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I bought EUR 10,000 market order from Mt.Gox(EUR) a few minutes ago... ...making a new All-Time-High in the process |
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BurrrrpP... ...making a new All-Time-High in the process. |
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Hi everybody! Perhaps now would be a good time to give feedback on your orders, since most of you should have received them by now! We continue to give out Maple Leafs at the best rates available to EU customers, see OP for details |
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In a Japanese morning when most of the big buyers are supposed to be on vacation or asleep, in a matter of about 2 hours the 30K BTCs wall to $100 was reduced by more than 1/3, yet not even a single large order of more than 500 BTCs was needed in the whole process, are you counting on the bears to hold their positions? I will not.
Hey, how about we do not even report anything, which cannot be suffixed, "- - and making a new all-time-high in the process." ? Hey dude, I was just thinking how should I respond when someone asks me to define the term "big buyer", and I will tell them:"Anyone larger than rpietila". Big holder is then anyone larger than you... |
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In a Japanese morning when most of the big buyers are supposed to be on vacation or asleep, in a matter of about 2 hours the 30K BTCs wall to $100 was reduced by more than 1/3, yet not even a single large order of more than 500 BTCs was needed in the whole process, are you counting on the bears to hold their positions? I will not.
Hey, how about we do not even report anything, which cannot be suffixed, "- - and making a new all-time-high in the process." ? |
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Pretty good sell off the past 5 minutes. $91.00
I also like that "a good selloff" takes us to $91, lol |
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Thank you for your concern. Unfortunately the bots are quite capable of searching for email addresses that are obfuscated in any human-intelligible way and exist as character sequences. Afaik, the best compromise nowadays is to present your email addresses as images, because the bots don't t care of them (at present).
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At what stage do you believe, the neutral governments start to endorse Bitcoin and welcome bitcoin-millionaires? After all, not all the government workers in the world are directly controlled by the banking cabal (actually some of my friends work for gov, and are quite nice guys...) It does not take much from the government of Iceland, for example, to declare a Bitcoin-millionaire exile with a fixed poll tax of $5,000, and 100-year moratorium on any tax, duty, regulation or reporting requirement concerning anything Bitcoin. Iceland is one of the world's premier places for mining, since energy there is free. They produce more out of nature than can be consumed. Gentlemen, is the day of our release near? |
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Interestingly, breaking down the search volume on Google for the last 12 months by region... Cyprus is nowhere to be found. I never really believed the notion, but it's not impossible. I'm wondering why people are making this assumption. Is there more data related to this correlation (Cyprus' interest in BTC vs BTC rising value)?  Edit: Filtering by past 7, 30, 90 days yields about the same results, and still no sign of Cyprus. Go Finland! Rule the world with the might Mathematics has bestowed on you! |
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Thank you! |
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The average apr was far below 2k% in the last weeks... Yes, there were some very lucky positions a lender could grab, but they often listed only a few hours and then you'd need to relend or have 0 interest while waiting for the next high demand. I made on average over the past 2 weeks close to 200% (I love statistics and created a tracking sheet including nice graphs etc).
Even though vir sometimes spiked, lending out at vir would have given me probably even poorer results. Maybe some other vir only lender can comment on that.
200% return will probably go to more like 100% for the next year. And if there is a 40% chance of total loss, this would give: 60% * 2 + 40% * 0 = 1.20 = 20% return in fiat terms. A cold wallet will probably give better return.. |
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Poor bears...  poor irrational bears:  What is that index? How calculated? |
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