Shirley you cant be serious?

Battleblog #3: With An Army By Your Side

http://blogs.battlefield.ea.com/battlefield_bad_company/archive/2011/07/20/battleblog-3-with-an-army-by-your-side.aspx?PageIndex=2#comments

wow..just wow....

All due respect (IMO your a very intelligent guy) but didnt your analysis also predict a value of $10 - $13 over the next few days the day before it crashed to $6 

72% say < $12

10% say < $5

Neither am I.

Yea isnt this like trying to start a 'fitness' thread on a 'croche' forum?

I'll call this 'Chapter 2 in the life of Bitcoin' as the first thread was sorta the first chapter since the first big move in the life of Bitcoin (a drop to $6) since its lofty high of $32 and the MtGox hack.

As I type this I know this thread will shortly enter the dark and dusty archives of bitcointalk.org however I think it would be fun to refer back to it at some stage in the future (when Bitcoin hits the lofty height of $100 per BTC perhaps  ). It feels kind of odd in a way looking at the price chart and seeing Bitcoin in single digits yet no-one really seems to want it? Only a few short weeks ago many of us would have sold our grandmothers to get Bitcoin at this price. Of course all of us would like to see Bitcoin hit its dizzy heights of just 2 months ago but right at the moment, in my opinion, that seems some way off and in fact even the mere suggestion of Bitcoin getting back to $30 a piece is occassionally ridiculed. On the plus side however we have an ever evolving community of lovers of Bitcoin and everything it stands for. New apps and services are being developed every day. In this respect I believe Bitcoin has a healthy, happy, and prosperous future.

It is my opinion that Bitcoin value needs to drop. Primarily because there are currently just too many coins to spend. Bitcoin's value is over-inflated. There are those that will flame me for saying that but that's ok. They know I speak the truth. Let me put it this way - How many of you would sit back and not buy Bitcoins if they were say $1 - $2 each knowing the potential value this currency may hold? What Bitcoin needs right now more than anything, to increase in value - is demand. No commodity on earth has a value higher than its demand. When Bitcoin is an affordable and a low-risk investment demand will follow. Then and only then can we expect Bitcoin price to reach new heights.

So..where to from here? Bitcoin is currently worth $9.30. What will it be worth tomorrow and into next week? Lets have a poll and see if the forum members here today have a realistic understanding of Bitcoins current true worth because the market will determine the value regardless of your expectations or desires. How accurate are we here in estimating its current worth? What will the value of Bitcoin be in 1 week from now?

Let chapter 2 in the life of Bitcoin begin...

And so we reach the end of this chapter in the life of Bitcoin and the results are out:

First we got a dump, a small pump, then another dump. So it seems the dumps have it. In the process Bitcoin lost approximately $1 of its value. It would be safe to conclude over the period of this chapter that the market was still bearish.

Stay tuned for the next exciting episode of Bitcoin.

You sitting over the top of a farm of GPU's hashing away in temps of 100c (remember it is summer in the US atm) + and the value of Bitcoin drops to $6. Out of that you need to cover the costs of electricity and you still want to recover your capital expenses for the hardware you invested in. What are you going to do?

Rally Blip time ladies and gents  

haha

I'd rather be a rich communist than a poor imperialist

Course I'm in. Just not on weekends

Now that was a nice dump

I think your going to be sorely dissapointed if you back this claim up with $$$

Yea well makes sense. Who better to start a rally than the high rollers with the coin 

Yea Im betting (literally) its the sellers buying smaller amounts back at a higher price to try and generate support. When the rally fails they dump again. 

And there she goes..finally we get our DUMP!!!!!!!!!!!


HOME RUN 

So it seems since the poll closed the first major move has in fact been a bit of a pump - yet the majority of voters predicted a dump would occur before a pump &/or that there would be a dump without a pump. Yet still we have no DUMP?? Weeeeeelllllll...stay tuned for the next exciting episode of Bitcoin!

At the rate its dropping I'd say oh in about 3 minutes....