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Three scenarios over the next 30 days, in order of likelihood:
1. Btc drops significantly in price and stabilizes $100+ under current price.
2. Btc moves slowly upward, with relative stability - a lot like the last several days.
3. Btc spikes hard upwards over a grand, stabilizing $100+ over current price.
I'll take my chances and bet #1. Why? because I'm not sitting on a bunch of $10 coins hoping fools keep buying them at $800.
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Says the man holding a bunch of coins bought cheap.
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"Post China we are supporting $800."
I don't believe we can say that yet.
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Bottom line is it really sucks to have missed this boat, coming to grips with missing an opportunity of a lifetime isn't easy. Can't let that cloud the judgment, $750 is way too much to pay for 1 btc right now. I wouldn't be able to sleep getting in now either, and it's got nothing to do with putting myself in financial peril - I don't want to feel like a chump if this shit tanks (like I think it's going to do, at least temporarily).
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Any chance we can get some idea of how long the backlog for email support is? I never received my email after the cashout tool said one would be sent. That was nearly 48 hours ago. I also emailed hashcows support about an hour after that and never got a response from that either.
I am fine to wait as long as I get my coins. No problem. Some sort of time estimate on a response would be great, though.
Me too. |
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Well that makes 1/3 of the world's pop out for now at least. Whoever is buying $800 btc right now is nuckin futs.
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dude, dunno what your asking but i would hang tight becuase we prob gonna break previous low of 455.
They laugh now, will they still be laughing come the end of Jan 2014? Or will they be calling new bottoms all the way down to double digits, just like they did all the way down from $1200 to less than $500? No, I believe "downtrend until western exchanges regain pre-China volume levels and support the price on their own". This could very well be higher than the previous low, or could be lower. It is nice to see that at least some other people here are aware of the significance of the ongoing China thing. Still lots of coins in China that may or may not be getting dumped on a BTC exchange near you, depending on the whim of the Chinese government. I can't bare to see all this arrogance, pomposity, and rather premature circle jerking when Bitcoin is still held dangling over a cliff by the Chinese government, will they let Bitcoin plummet or will they place it 'safely' back up on the ledge? Reading through these forums actually makes me hope that they see to it that Bitcoin takes a good thrashing, if only to smash the delusions of the multitude of idiots on places like this. Whatever happens, I will seek to take advantage of either way. I pretty much agree with everything you post. Hope we are right, this China thing represents a second chance for all of us late to the party. If it weren't for that btc would be over $2k right now. C'mon $200, my 4 grand is waiting.... |
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If he's hoping to make a couple grand to help with the baby, I think it's pretty safe to say he can't afford to lose $2k. If you have the time, patience and a little bit of talent you can turn a bitcoin into several bitcoins trading on Cryptsy. I like those odds much better than a blackjack or roulette wheel. Then again, sports betting is probably better if you really know what you are doing.
If you are really set on this, buy 2 btc, take one and paper trade on cryptsy a couple days then give it a go. If this takes off like we all hope it will next year the btc you don't gamble with should give a nice profit. I think it's muchmore likely we will see $10k nxt year than $10, for whatever that's worth.
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Dumb question, but when setting up with a pool like hashcows or middlecoin, can you use a coinbase btc address or do you need to use a btc address set up at an exchange like mtgox, btce or cryptsy?
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David, you have got to stop shooting your toes off, before you know it you won't have any feet left. The last thing you want to do is buy and sell based on emotion. There was nothing to indicate a run back to $1k. The Indian exchange closings and impending China exchange closings indicate we will see cheap coins soon. This is using common sense not emotion. Don't listen to the extreme bears saying $10 coins next year any more than the extreme bulls saying expect wall street money to fuel a run up soon. Both are very unlikely, what is likely is the result of using common sense with what is going on currently in BTC news. Common sense is that was a brief run to $750 now down she goes. Pick a position and stick with it.
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thanks. What about Hashcows and Middlecoin pools? do I just use my coinbase address as the payout address or do I need to use my cryptsy address for that then transfer to my coinbase address? do I need to do anything on coinbase as far as requesting btc or do the just automatically appear? thanks so much for helping, it sucks feeling so stupid with something new.
And I will donate some dogecoin, for your help and so I can understand how to transfer it.
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I wanted to just mine on Hashcows while I figure this out, but since the hacking fiasco I started mining on Multipool. I transfered about 10k dogecoin into a Cryptsy wallet address, but don't understand how this works trading for btc. Can I enter my coinbase btc address someplace on cryptsy if so how? if I generate a new btc address on cryptsy how do I transfer btc from that to my coinbase address?
Please go easy, these must sound like incredibly basic q's but it's not easy to figure out since these exchanges provide scant info.
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There should be a nice red bolded announcement on website saying that login is temporarily disabled, so we can get rid of this users spamming forum with "omg, I canŽt login".
I thinks it's a lot less "Omg I can't log in" vs "Omg why can't I have access to my account to even see what happened". That is truly annoying since some of you obviously still can. I hope the admins fix this soon now that X -mas is over, because I know if there was a major breach like this at my own business X - mas wouldn't matter, my clients finances are very important so I would have spent Xmas at the office fixing this as a business I can't spend even a day down losing my clients trust. The only way I would disagree with this is if the admins were doing this as a hobby that doesn't pay much. If this is their business and main source of income, the way they have responded thus far makes me wonder if this was an inside job. Instead of "we'll get around to it in the next few days" they should have already answered questions of whether miners should continue mining, whether they will eat the loss since it was someone's fault and it sure as hell wasn't the miners, and wth is going on with passwords and addresses. |
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Bitcoin came all the way down to 480$ from 1300$ and waking up again, Now market is stabling its price from 500$ and to 600$+ so now dont even Wish that price will be down then 600$ so anyone who want to buy this is the rite time (My Personal Openion and according to Few Eco Journalists) By jan Bitcoin will hit its all time high price of 1300$ and by June or July Bitcoin will be rocketing to 2000$+, Dont forget that when overstock.com will start accepting BTC minimum BTC price will be 2000$+.
and then I would like to buy some coins. When do you guys think would be a good time to buy?
This is just about the worst place on the whole internet that you could possibly ask this question. Look at what Bitcoin has done after both previous crashes and you will realise: a) There is generally a large window of buy-in opportunity in a post-crash environment. No fkn need to rush whatsoever. b) Bitcoin may not have finished crashing. If you are a newb, WAIT until some price stability has set in and/or the trend has show clear signs of reversal. Also, you may or may not be aware of the China thing. There is a deadline on CNY withdrawals from Chinese BTC exchanges set for 31st Jan 2014. This means that still around 40% of all Bitcoin exchange transactions are yet to be priced out the market! And the Bitcoin Nutters are yelling 1K again before the end of the week!? +1 Huh? |
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The chart reminds me of the way a ball bounces down stairs. Absent news good enough to counter the btcchina shutdown, why it is reasonable to expect 750 tomorrow?
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Ok DavidZ imagine price moves up violently and breaks 900. Your move? Not saying it does or will, but it sure as hell can  I can tell you your move - panic buy. Then sell back at 600. Rinse repeat. That's how most day traders here "make" money. This only happened before because of Chinese speculation, and we've yet to see the full fallout. Please elaborate on where this new money will come from? David did the right thing, keep watching that value. |
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So oneŽs background in trading is now judged upon amount of time spent on Bitcointalk? YouŽd make lovable financial advisor.
not in the least, but those of us who have been around here for a while have been through this umpteen times, there are just more zeroes after the numbers now in percentage terms this "crash" is small potatoes compared to the rollercoaster we have ridden these last few years yawn, wake me up when we break 1K again edit/ and to the OP, far as I'm concerned, this IS the moon, next stop moons of Jupiter, who knows when There are a couple differences between past crashes and this one. First, this run up was fueled by Chinese investors. China is now out. This is (soon to be) the biggest economy in the world. Second, you have a crap load of new and not even delivered yet mining equip out there with miners about to lose their asses. Difficulty levels are already way out of line with the return, never mind at half current value. I'm not calling an all out collapse, but you can't equate a $32 to $3 fall when btc was still obscure and largely unknown to what is currently happening. |
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The last posts say it all. Btc value is being held up on hope btcchina will find a way out of it's dilemma, and if not the btcchina closing will not hurt the value too bad. It's denial on both accounts, the only question is how far the value will sink before it starts climbing again without btcchina - that's where I want to buy.
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Why would the chinese buy into something that is useless to them and is obviously tumbling in value? There is no way you can spin the btcchina shutdown into something positive or even neutral. The point that making it illegal will increase volume via the black market is preposterous. This isn't meth, btc doesn't get you high - in fact it doesn't do damn thing except represent something of value.
I believe in and find this technology fascinating. I do think it has long term implications, but for the medium term it's value is fucked.
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Who is going to take up the slack left by Chinese buyers? who will support and lift the price now?
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