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I would personally never trust my coins with Facebook.
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The short term price will likely be unaffected when new companies start to accept bitcoin.
Over the longer term as more people start to use bitcoin the price will be positively impacted.
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All of the crypto markets are subject to massive market manulipation.
Just look at what happened when GOX was failing and the GOXcoins were trading on bitcoinbuilders website.
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So speculators, is litecoin under valued
right now against BTC and therefore
a good longer term buy?
Litecoin is dying. Way too many scrypt coins and now hype around other coins such as Darkcoin and Blackcoin are hurting Litecoin and even Dogecoin. Plus the big asics are now out and everyone is dumping those coins for BTC. The other coins accomplish the same thing that Bitcoin does. The network for these alt-coins is much weaker then the Bitcoin network. Draw your own conclusion.... |
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exchanges insiders are the worst thing .. because they're not ethical .. by making an analogy how information latency is important let me give an example ... I was watching the world cup 2014 in different websites ... some of then have 2 minutes latency ... I could know the score about 1 minute before my neighbour ... Now imagine me and my neighbour are betting in "real time" who going to score first ... network latency makes all technical analysis / astrology almost useless ...
High frequency traders lease spots as close to the exchange servers as possible for vast amounts of money in order to have the fastest latency possible. Do you think something like this goes on yet with bitcoin? Unlikely due to the fact that the exchanges are so far apart geographically. |
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we almost broke $550, $500 is not so far away
I don't see us going back to $500. I have been wrong many times though. I think we are in the midst of too much good news right now... many good news and weak hand still sell their BTC we need super big news that will help many investor believe in BTC like 30000 government sanctioned coins for sale at auction likely to sell under market price? The coins will likely sell for a discount |
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So if I am an early adaptor and own 30k coins I can crash a market!? So bitcoin has still a long way to go...
Funny thing is that the 30k coins haven't even been sold on any market yet. It's just the thought that they are about to even possibly be dumped that is scaring everyone. The issue is that people are anticipating a surge in supply in bitcoin for sale. The amount of coins being sold is many times the daily average traded in one day. |
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There is an implicit guarantee that the coins to be sold are legal and without any sort of taint, at least in the eyes of the Feds I doubt any investors will worry about this. Investors trying to buy bitcoin are likely more concerned about keeping their coins safe. This is why a BTC EFT will likely sell for a premium. |
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See you at $0.1
You have a time machine that travels backwards in time? |
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Ok .. am I the only one who fails completely to see how this is such a big deal?
Please someone educate me.
It isn't, but you can't control mass hysteria (stupidity). It's like the malleability issue, everyone was completely hysteric about it when MtGox reported about it. Transaction malleability is still there but now you hear nobody about it (and it still isn't a big deal), this is just how mass psychology works. In a month from now Ghash will be back to 35-40% and everyone will be happy again, even though there is really no significant difference between a pool owning 51% of the hashrate or 30%. This is true, ghash would likely never attempt a 51% attack. The good news is that it does not matter as bitfury is moving several PH/s of capacity out of ghash |
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I've been buying a few bitcoins a week over the past month, so my average is about $580 right now, which also happens to be the current price.
I would like to continue to buy, but with the FBI auction coming up I'm wondering what people's thoughts are on how to distribute this buying across the next month - continue picking up a few per week, wait until the auction to buy on a dip, buy most now?
The impact of that sale by the FBI is way overated. What will be sold is equal to the quantity of Bitcoins mined in 10 days, and is considerably less than the daily trade volume. The market can handle it. Also, it seems quite unlikely that the buyer will instantly sell all his coins on an exchange. However, fear of the possibility of a 51% attack might indeed be a problem for people's confidence in Bitcoin, which might be bearish news. Another way to say that is that the FBI auction is 10x bigger then the max amount of new coins can be sold in one day. Over the short term the price will likely fall, however over the long term it will allow more people to start using bitcoin. |
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Well that solves that problem |
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The only thing I'm watching now is how the community respond to the 51% attack (yes, it is an attack). This will determine the fate of bitcoin in my eyes.
All things China and Silk Road are sideshows at this point.
I don't think ghash would actually launch a 51% attack on the network. Just because they have 51% of the hashrate does not mean they are double spending or preventing other pools from finding pools. |
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I can't wait until the bitcoin marketcap is finally high enough when we get past this silly notion of having to buy "whole" bitcoins, like whole round numbers really matter. That holdover notion goes back years, when you bought coins in tranches of 100s, thousands, or even tens of thousands. I still have friends who ask me, "Did you really by a whole bitcoin for $500? Isn't that a lot of money to spend?"
The Joe Public has to get past this notion of either buying whole bitcoins, or buying nothing (because they say they can't afford it.) We need Joe Public to understand that they can buy $0.09 worth if they want. Or $5 worth. Or $100 worth. It doesn't matter how much you buy, it'll likely appreciate long term no matter what. Quadrupling your money on $2.50 is just the same as quadrupling your money on $2500. As is quadrupling your money on $452.78 worth of bitcoin.
We need the script to change from "I just bought another bitcoin" to "I just bought $655.57 worth of bitcoin."
I think the psychological barrier will be finally broken when a single btc gets back into the 4 digits USD and well into it. Hopefully. By 5 digits, hopefully people won't even care anymore what the exchange rate is.
This is a valid point, however, I think you're forgetting the solution of switching to a standard denomination of mBTC. Some services such as bitcoinity already have. You can see people buying 1mBTC for $0.657. I recently bought 180 mBTC for my girlfriend for $100. This is what we need to gravitate toward. Andreas Antonopolous touches on the unit bias issue sometimes, but it needs to be taken more seriously. You can start doing your part by referring to your stash of whole bitcoins in mBTC. Pretend you own 8 BTC. Your friend asks how many bitcoin you have. You say, "I have 8,000 mBTC." 800,000,000 satoshi sounds better  If you say it like that then it makes it sound like bitcoin is worth less then it really is. |
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These are not really accurate numbers. They are only the numbers that have been entered into the market.
There are a lot of money and btc sitting at exchanges waiting to be traded when the price is right.
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I think this is quite a realistic scenario - when will it happen?
It will only happen when dollar is useless. Then it will does not matter 1 satoshi = all the gold in the earth, this is quite realistic in the future, lets say we discover more planets with tons of gold but we cant make more btcs The US would need to have several decades of the economic leadership of the Obama administration for this to happen |
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In many countries outside of USA, it's hard to link normal checking bank account with PP. Only credit cards are available. So, for example, many are not able to buy expensive things on ebay / shops, because their credit card can stretch, let say, up to 500-1000EUR.
If you have sufficient means to afford purchases above your credit limit the credit card company will provide higher limits. That's how they print money (not literally like the banks but in a cash cow fashion  ) I would not consider this to be printing money, it is more how fractional reserves work. The credit card is going to be repaid (on average when taking into consideration all the interest they collect). Printing money is when a central bank buys debt with money they do not really have. |
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The market is generally not liquid enough for stop loss orders to be effective.
Additionally the price of bitcoin is so volatile that if the "stop" is triggered the price may fall significantly before your order is filled only to rebound within a few hours.
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I believe the black swan is drawing near. My bet is that it will be the failure of a major bank (Deutsche Bank maybe) or some sort of gigantic default on a loan that will bring the house of cards tumbling down.
It could also be a major announcement from Russia or China that they are no longer going to conduct any business in US dollars.
I am also feeling China and Russia make a new joint currency backed by gold, instantly sinking the dollar, at that point.. .. boom. China have ceased buying US treasuries, but they still hold waaay to much to risk a serious USD devaluation. And I really don't know why people keep using the word "Russia" as if it has any economic significance! Russia's GDP was less that Italy last time I looked! If the conflict in Russia/Ukraine were to escalate further then there could be economic issues. |
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Why would $ decline when bitcoin rises in value? Do U really think bitcoin makes it go down
Lack of demand = lower value, worth less. People exchanging fiat for bitcoin means they put less value in usd and more in btc...so bitcoin goes up, usd goes down. Once mega money starts cashing in to bitcoin, the usd value will drop more significantly...it's basically people dumping fiat for some other currency. Every time China does it the dollar falls. bitcoin does not have that big of a market cap to make that much of a difference in the price of the dollar. The market cap of bitcoin is well under $10 billion. There are tens of trillions of dollars worth of dollars. |
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