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62
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Economy / Speculation / Re: Looks more and more like a 2011 repeat
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on: June 26, 2013, 07:25:45 PM
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This is not your typical finance though; this is really and truly revolution, on a bigger scale than has ever been comprehended.
The dot-com bubble crashed and was based on Internet. If the whole Internet wasn't strong enough to prevent any bubble crash, how something smaller like Bitcoin is supposed to do that?!?! How does the dot-com bubble relate to the price of bitcoin? Bitcoin is not a dot-com startup. Well, the dot-com was a bubble and Bitcoin is also a bubble. If the dot-com, an economic ecosystem that based its potential on the Internet(which is the biggest revolution of mankind until now) was not able to sustain a bubble, I don't see how Bitcoin can sustain any bubbles either, whatever the potential of Bitcoin could be. "Because it's Bitcoin" is not a good reason enough to change basic economics rules. I have often debated about this, I came to the conclusion that the bubble isn't necessary a bad thing. As an investor, that could be a key piece on how you decide to trade. Bubbles has repeated itself in history countless time, that is why it is wildly studied. |
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63
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Economy / Securities / Re: [AMC]-The Official Active Mining Cooperative Discussion
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on: June 26, 2013, 07:22:07 PM
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I still have trouble grasping as to why shares rose from 0.0008 to 0.0025. 300%+ increase, just from speculation of an announcement, and ken issuing more shares all seems like an coincidence.
Could he and many that were involved in pumping the price up just so the newly issued IPO could be sold for a much higher price (0.0025) as opposed to 0.008+ or 0.001 which was what ken has noted in the past.
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67
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Bitcoin / Project Development / Re: Marketing Bitcoin
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on: June 26, 2013, 03:30:23 AM
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Not trying to be offensive to Draper University, but having them accept bitcoin really doesn't do much for the community as a whole. I'm more so interested getting large institutions interested in bitcoin.
Draper is a very "new age" college; bitcoin is a "new age" currency. I understand why they are the first to adopt it, but it really doesn't spread bitcoin to many new users.
Chino
Non taken, I feel the same actually. However I don't think you can hate the fact that they are accepting bitcoins. This is the first step of a big thing. |
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68
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Other / CPU/GPU Bitcoin mining hardware / Re: This miner for sale on my local classifieds
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on: June 26, 2013, 03:25:38 AM
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It is not worth it to purchase GPUs now to mine bitcoins.
My advice would be the same as adviceadam's below.
Instead of buying this miner, use the cash to buy bitcoins instead. Then either store it long term, or invest in the bitcoin market, however you must consider the risks before you venture in.
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75
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Bitcoin / Project Development / Re: Marketing Bitcoin
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on: June 26, 2013, 02:38:44 AM
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I've always thought education would be an outstanding place for bitcoin.
Think about the number of international students that are paying via methods that schools/universities are losing money. Plus, if educational institutions were to get involved (with whom a majority of students are within the 18-25 age group) we could see a large amount of publicity/widespread adoption in the future.
Getting started at schools really wouldn't be that difficult either; it would just be as simple as creating a club at the school and slowly getting the community involved with it. The thing about college students is they're extremely social. They talk, they share, AND when they go back home they spread the information further.
I plan on starting a club at my school this next fall. I figure if i can get some funding from the school, i can give out charitable donations to local businesses in bitcoin; basically forcing them to learn about/use this wonderful currency.
*also, first post out of jail!
Chino
Draper University already has. http://finance.yahoo.com/news/draper-university-becomes-first-educational-151400163.html |
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77
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Economy / Economics / Re: Keeping Bitcoin Price High
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on: June 26, 2013, 02:34:54 AM
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if people would sell their coins in smaller portions instead of dumping them all at once they would get more $ for their coins and the market wouldnt take a dive. but maybe they want to create panic selling to buy back lower.
This is one of the smartest things I've read on these boards. I know this because I practice this too. I have had very frequent situations where I'm selling 150+ BTC at one time. This is A LOT harder than it sounds. Fortunately, I have a business and finance background that has given me some trading skills and I'm comfortable doing this (I also have multiple exchanges besides Gox to use). I'm TERRIFIED at the thought of these ASIC users with zero trading experience going on Gox on trying to sell their BTC in large chunks. They can completely collapse the market without even knowing it. Its like a baby crawling in a dark room putting their fingers in things - "let me see what happens when I plug into this socket . . . " Hey, if you're a believer in bitcoin, just consider this a buying opportunity. The price will recover eventually and you'll get your bitcoins a lot cheaper when these guys are dumping mined coins on the market. Their inexperience is our gain. I've been happily buying bitcoins at these low prices the past week. Honestly I don't even day trade etc much anymore. I just really do enjoying using bitcoin now for online transactions. |
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78
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Economy / Speculation / Re: Bitcoin DOWN, Litecoin UP
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on: June 26, 2013, 02:31:11 AM
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Litecoin was conceived as silver to Bitcoin's gold by design. I actually would expect a variation of the LTC/BTC price over time in many ways comparable to that of silver/gold. I actually would also expect a high degree of correlation between LTC and BTC over time when compared to USD, EUR, CAD etc. Is it possible to trade LTC/BTC profitably. Of course just like silver/gold. As for charts the chart that I find the most interesting over time is LTC/BTC rather than LTC/USD.
I agree, at first I have been very focused on LTC/USD but for the past weeks I have shifted my attention more to the LTC/BTC price more. |
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