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361
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Economy / Economics / Re: What can we expect the price to decline/raise to?
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on: July 05, 2011, 02:31:53 AM
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Can you cite that economist?
What happens when your prediction is wrong? I bet you will stop replying to this thread...
It reminds me of the scores of people who kept repeating how the price will drop to the single digits once MtGox came back online. It didn't. |
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362
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Bitcoin / Bitcoin Discussion / Re: Bitcoin amount limit
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on: July 05, 2011, 02:25:03 AM
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It's more of a display thing. If people don't want to pay .00000015 BTC for a drink, they can pay 15 Satoshis (That sounds about right, by the way, for an outrageously priced bar drink;) )
I think eventually there will be a Big Mac index, where the price of a Big Mac will fluctuate between 1.5 and 1.8 Satoshis.  |
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366
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Economy / Economics / Re: Wealth is unlimited.
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on: July 04, 2011, 11:34:47 PM
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Except for one minor problem. Energy is not free and unlimited for us with our current technologies. If we had limitless power, sure, absolutely. Time of scarcity is over.
Until then, you are simply wrong.
Sure, it's scarce but with enough improvement we can get by with a fraction of it.  Energy consumption has been increasing exponentially since the dawn of man. |
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370
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Economy / Economics / Re: Namecoin prices plummeting - opinions?
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on: July 04, 2011, 10:43:50 PM
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Sure it will. Around the 21st of the month the namecoin difficulty will be a tiny fraction of bitcoin (I estimate 20k or less for namecoin, 3 million for bitcoin). For a brief, shining moment with all of us dogpiling on namecoin to generate all 2016 blocks in less than 24 hours the BTC difficulty will drop. =)
There should be a name for this occasion, since I suspect it will be periodic. |
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372
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Economy / Speculation / Re: Why do people sell at 15 when the price could rebound to 30?
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on: July 04, 2011, 10:39:00 PM
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MtGox is still screwing up trades. Just saw one go through at 13.2 followed by 13.70, delayed in one thing but geeze what a spread.
Jul 4, 2011, 22:34:50 13.70910 1.00
Jul 4, 2011, 22:34:44 13.70910 6.00
Jul 4, 2011, 22:34:34 13.70911 4.19
Jul 4, 2011, 22:34:32 13.73669 0.03
Jul 4, 2011, 22:33:58 13.70911 0.80
Hmm... |
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373
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Bitcoin / Bitcoin Discussion / Re: what's your stop loss
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on: July 04, 2011, 10:21:07 PM
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if anybody is familiar with this basic investment concept. Now my question is what's your stop loss? You're holding BTCs because you either bought them or mined them. Either way, do you set any stop loss?
For me, I'll probably sell all my BTCs if the price goes below $10.
I think you have this backwards. You're supposed to buy when it's low, and sell when it's high. He'll probably buy back when Bitcoins are in good shape at $20.  "Buy high, sell low". |
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377
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Bitcoin / Bitcoin Discussion / Re: Price of bitcoin to hit 50$/coin
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on: July 04, 2011, 05:33:19 PM
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So what do you think the new Google bitcoin exchange will be called?
"G-Coin: Google + Money"
"Googex: Global Bitcoin Trading"
"Bitogle"
I'd include facebook, but they'll be "MySpace-ing" themselves in a while...
Googleplex? |
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378
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Economy / Speculation / Re: CRASH!
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on: July 04, 2011, 04:57:41 PM
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how low will it go?
It bottomed @ 14.2. It's rebounding now, however. A little rally at least. There is just too many coins on the market between 15 and 16 for it to gain any real traction. These are not rally's just oscillating attempted corrections after the crash. Another thing is that only 10k or so coins have been traded in the last couple of hours. Nobody is unloading a shitload of anything. 10k in a couple hours * 12 = 120k per day, which is $1.8 million. |
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380
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Economy / Economics / Re: Namecoin prices plummeting - opinions?
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on: July 04, 2011, 03:09:42 PM
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http://tvori.info/bitcoin/charts/Each 100 MH/sec would give you 0.07292715 BTC/day. At rate $15.010 per BTC this gets you $1.0946/day
After next difficulty update - 0.06341688 BTC/day and $0.9519/day
If you decide to go after Namecoin instead, the numbers would look as following:
1.79990022 NMC/day, 0.0350 NMC/BTC ($0.5257 per NMC), and $0.9461/day.
After next Namecoin diff update: 3.86236812 NMC/day and $2.0303/day. I wonder if this trend upwards will continue. Namecoin mining is nearly as profitable as Bitcoin mining now.
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