Sure, bounces and bull traps are always expected. But you can kiss triple digit goodbye.
That statement is meaningless without a time frame. Will it hit triple digits in the next 24 hours? Probably not. In the next week though? It is very likely. |
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Why didn't ! sell at $265!?
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Asia is always more bullish on bitcoin than we are.
I predict that bitcoin could go as high as 95 tonight.
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The problem is too many people use Bitcoin just to churn out more Dollars.
Too many speculators, manipulators and centralisation in the form of ASICs.
If you want to help the price go up don't sell them for Fiat go out and spend them. Put the Bitcoin.org logo and site on your dollar bills to help spread the word.
Demand to pay in Bitcoin in every restaurant and pub you go to. Answer their questions, tell them it's not controlled by any bank or government. Tell them it's like sending money with email and we all remember what email did to the post office.
Get your friends to go back to that same merchant over the coming weeks. If they see it hitting their bottom lines they might get curious.
This. I think we should have a pamphlet made, that people can print out and hand to the manager at every restaurant and shop they go to. It should briefly describe what bitcoin is, why they should accept it and how they can go about accepting it. Why hasn't the Bitcoin Foundation done this yet? (or have they and I don't know about it?) |
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Consider mining LTC. GPUs are the only viable option for mining scrypt coins at the moment, and it doesn't look like that will change anytime soon.
A lot of folks, myself included, think the value of LTC could explode in the coming months if and when it hits Mt. Gox.
Also, mining LTC and trading for BTC has historically been more profitable than mining BTC directly.
Mining LTC is not more profitable right now. And it will only get worse as more GPU miners switch to LTC. And MtGox will NEVER trade LTC. |
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Bill Gates has never been an innovator. Remember that he wrote a book in the early 90's called "The Road Ahead" about the future of computers that failed to mention the internet at all.
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Instead of blaming ASICMINER for delivering what they promised, why not blame the "competition" for failing to deliver anything on time? If they did, ASICMINER wouldn't stand out so much. Their only fault is delivering on time.
This. The amount of sour grapes in this thread is ridiculous. Remember that it is BFL that is NINE MONTHS delivering their product. And it doesn't look like they are going to make the 90 day promise they made about a month ago either. Their promise of delivery back as far as October was completely fraudulent. They must have known they were months away from delivering every time they said they'd be shipping in 2 weeks. BFL customers should be pissed as this was blatant illegal behavior. Avalon is also multiple months late on batch 2 and just last week they said they'd be finished shipping by the end of the month. Well, here it is July 1st and all of batch 2 has not been shipped out yet. Also there is plenty of evidence that they were mining with customers machines in the meantime. That is bad. Very bad. Now, let's look at ASICMiner. They developed a working product, and have both mined and sold it and sold shares which have returned higher dividends than anyone could have expected. If you bought shares just a few months ago you would have 5 times your money just from the share price alone! Their hardware was expensive, but they delivered immediately and the hardware worked as claimed so plenty of people bought it anyways. IMO, they priced the hardware PERFECTLY. Any lower and they would have been screwing over their shareholders! Remember that they had no competition for mining hardware at the time! Neither Avalon nor BFL could sell you a product they would deliver right away. ASICMiner has been nothing but trustworthy so far. If you are frustrated by their success, just buy some shares and share in the profits. |
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Alt coins are also dead, Litecoin is the last to go down but it's going and will be gone soon.
Why do you say that? Litecoin is currently ASIC proof so there will be a lot of GPU workers going there over the next few months, also it is small but steadily growing, much like Bitcoin was. Once MtGox starts trading LTC we'll see a lot more market validation. Litecoin is dead. MtGox will NEVER start trading litecoin. Yeah, I know what they said. But it will never happen. Miners moving to litecoin will help kill litecoin faster as litecoin difficulty will rise and miners won't make their money back. |
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You can't make money buying mining hardware right now. You missed out on ASICs. You would have had to order last year from BFL or Avalon batch 1 to make a return.
You best bet is to go to bitfunder.com and buy ASIC Miner shares.
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Although I am highly invested in Asicminer Shares, it is a bit disconcerting that they will control so much power under one single entity.
Dude you should sell and get KNC instead. Nobody should be supporting these assholes. It would be a different story if they weren't mining with what they produce, but they are. We really need a sticky or something explaining how this will kill the small miner. It still isn't too late to apply the brakes to this if an information campaign is started. No, BFL and Avalon are the assholes. People are just jealous because ASICMiner is doing it right. They didn't mess up like the others did and actually delivered a working product. Fortunately, you can buy their shares so if you can't beat em, join em. |
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what does bitcoin have going for it?
answer: hype.
i know cryptocurrencies are the future, but until the mainstream accepts it, btc could well go down to who the hell knows. i hope not back to single digit levels.
the good news is this is just the beginning. there are other cryptos people can speculate on and make money off as the technology keeps improving, evolving and slowly being used and accepted by the mainstream.
my bet is on ripple.
edit: even then, if cryptos are widely accepted, its value would still go up and down like the usd, eur, gbp, etc..
Ripple is a scam. It is controlled by a single corporation that kept the vast majority of the coins for itself. Did you know the market cap for Ripple is actually higher than bitcoin. That's how ridiculous ripple is. Most people will never use trust it and thus never use it. I know I never will. |
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3600 bitcoins are mined everyday. Unless bitcoin continues to grow, the price will drop just from the new coins mined.
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I'd pay as much as 90 BTC each, maybe 250 BTC for all three.
They could make back as much as 150 BTC over their lives but it is definitely risky and I would hesitate paying anymore than 120 each. 90 is probably a reasonably deal.
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You are not the only bull, there are plenty of people around who think the price will go up long-term. Some of us just realize the long-term and short-term can be moving in opposite directions.
Seems like an unsustainable situation though. Like I said, good luck not being the person who sold at the bottom. Good luck holding when you could have doubled/tripled/quadrupled/etc your coins. (See what I did there?  ) Pretty illogical to use that as a basis for ignoring sentiment and technical indicators. Many people realize that much more money can be made not using "buy and hold" strategy, which simply rejects countless opportunities to make profit. I think some people are great at day trading. It takes some skill though and perhaps some great intuition as to what the market is doing. I would think it would be wise to always hold on to some because we could wake up tomorrow and BTC could literally be $500 a coin. All it would take is something that would trigger a panic buy with a large number of people. I personally do not trust myself enough to risk my little stash. I always seem to pick the worst times to sell, then I buy back too soon. I have broken even with my day trading experience so I figure I may as well just sit back and enjoy the ride. But I do envy those of you who manage to work the system so much better than I do! Well done! Wish I had the skills, but it is good to know what our weaknesses are and be patient. Nobody is great at day trading. Some people are simply lucky over the short term. Everyone will lose money day trading over the long term. |
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Bitcoin likely can't survive another extended bear market. Those of you who want cheap coins be careful what you wish for.
So it can startup from nothing, gain global attention, but if the price drops for a long time, then it will burn to nothing, not the first time, but the second time? Yeah, seems likely....  I'm not saying that bitcoin is dead. But if Bitcoin drops to <$30 again, it's going to take a lot longer to recover to >$100 (years perhaps) if it ever does. Why? Do you have empirical proof or analysis to share or its just a "gut feeling"? There are no empirical proofs or analyses and anything who tells you otherwise is simply bullshitting you. There are no fundamentals for bitcoin. You can't analyze is that way! Bitcoin right now is almost entirely speculatory That means it is only worth what people think it is worth. A drop in price is VERY BAD for bitcoin's acceptance. People wll begin to worry and pull out. And people who have lost a significant amount of money in bitcoin will turn away and near look back. That is just more potential bitcoin users that will never be on our side again. And since bitcoin was once at $266, if it goes back to $30 that will mean there will a lot of people that will have been burnt. And most of them will never come back. What is best for bitcoin now is for more and more people to get involved and the price to rise. What is worst for bitcoin now is for people to lose faith, flee, and let the price drop. Bitcoin dropping is basically undoing all the work that has been done in the last 6 months getting us to this point. Inflating the bubble a third time will be even harder. Bitcoin in the news won't be enough anymore. People are already tiring of hearing about bitcoin in the paper but never seeing anything real come from it. THis isn't a simple dip either. Bitcoin has lost 10% of it's value in the past 24 hours. I know this is that unusual, but we've have a period of slow and steady decline for over a month now and pretty much nothing good happen when it comes to price. |
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ok, I'll start the bidding and bit 60 BTC.
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Just more sellers than buyers on the exchanges. Volume has been pretty low compared to earlier in the year also, so those sellers are having a disproportionate effect on prices.
Long term, I think the price was mostly speculative based on the potential of bitcoin. Because nothing signficant has happened in the past month, the exchange rate has been leaking lower to reflect the current reality. But I don't see any reason why we won't have those great services and uses for bitcoin within the next year. If you can afford to hold on for 6-12 months, the price will be right back up there.
Yes. This. I might seem like a bear but I still hold >1000 BTC and I have no plans to sell anytime soon. |
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Bitcoin likely can't survive another extended bear market. Those of you who want cheap coins be careful what you wish for.
So it can startup from nothing, gain global attention, but if the price drops for a long time, then it will burn to nothing, not the first time, but the second time? Yeah, seems likely.... I'm not saying that bitcoin is dead. But if Bitcoin drops to <$30 again, it's going to take a lot longer to recover to >$100 (years perhaps) if it ever does. |
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People stop beliving in mtGOX anymore, even when price between mtgox and bitstamp is near 10$ people dont want to buy on bitstamp and sell on mtgox because they are conviced that gox will never give them money. I think its time to abandon the ship.
I think it's great, I've been buying on campbx and selling on mtgox and making a ton of money so far. Great arbitrage opportunities right now! |
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