then if you're so "real" why don't you put your money where your mouth is. i'll bet you 100 BTC to be held in escrow that the USD price per BTC will be higher one year from now than it is today. you're a douche so i don't expect you to take the bet.
You should do it in USD, else it’s an asymmetric bet where he wouldn’t really gain anything if he was right (as he is extremely bearish). |
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Is there a "PayPal economy" or "Credit card economy" too? Haven’t heard of that yet.
Bitcoin is not a currency, it’s a payment method/USD proxy. Noone receives wages in Bitcoin. Noone produces the most basic goods for Bitcoins. There’s no cycle.
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Prices have stabilized, and have not changed since I wrote this
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I don't see why everyone has their panties in a wad.
Because there is a lot at stake. Will the log chartists please stand up? Show me evidence this is a normal correction and not an exceptionally deep and long one! |
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Does this really like like a healthy, historically normal correction to you?  |
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lrn2 store of value vs. currency.
Regardless of what bullshit is being spread here, Bitcoin is not a currency, it’s a payment method or USD proxy at best. Noone is being paid Bitcoins as wage. Noone accepts it for basic goods.
Store of value on a long-term scale it possibly is, depends mainly on the integrity of the core system and if it will indeed remain the dominant chain.
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But I ask you this: How is Bitcoin anymore important than the GDP of ENTIRE FUCKING NATIONS who's currency is denominated much lower than 1 USD?
lrn2 market cap, the units differ in scarcity. |
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buy if it goes down to 5. we saw this happen about a month ago where it went down to about 5 for a day or two then rallied back up to ~12 over the following few weeks.
Ok, then it will happen again I guess. |
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There is no reason to sell right now unless you absolutely need the money. Its hurting the market value, lowering the prices, and mining does not even pay for itself at this point.
Damn. Sorry for hurting the market value and lowering the price.  I’ll ask your permission before I sell next time. PS: It’s always profitable for someone to mine, or else everyone would stop. There’s also the difficulty adjustment to regulate this. |
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One thing I wanted to add: All this stuff about generating media interest, getting more people to join and invest etc. makes Bitcoin sound like a pyramid scheme to me.
If Bitcoin is found convenient and useful, people will come on their own. Currently it’s not very convenient or useful for most.
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We need to get more coins out to more people
Why do we need to do that? To ensure the position of the bitcoin wealthy? I’d say we need to polish the Bitcoin client, infrastructure, everything, before we try to attract new people. |
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So you only like risk in hindsight, when the outcome was good...
No, I like good risk/reward ratios, and I thought it was good at 1.00-0.5, so I bought at the time, but right now it sucks imo. |
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Looks like buyers are in their starting positions, it hasnt looked this good in a long time. We might se a rally.
Yes, the depth has always worked as a good indicator recently when it was 2:1 for the buying side, and yet Bitcoin declined from 10$. |
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And what will you do if the wall disappears or is moved further down?
I wouldn’t use the depth to make any trading decisions except very short term ones, really.
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Think this media hype is going to happen again? Haha.  Also, the same price has been reached only recently in May 2011. This is not "low". PS: The people I would refer to as "early adopters" actually mined their batches of coins with a CPU. |
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Yup, the question is now: what happens if bitcoin breaks $6.58 and $5? Next up, discussing $3, $1 and $.10. The next 8 weeks might prove to be interesting.
What’s special about 6.58 though? |
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This trollface is hilarious.
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If you want to make bad news look good: A) use a log graph, B) include completely irrelevant data in your graph, such as last year's bitcoin price which 99% of bitcoiners have never experienced and can never experience. Sure, if I bought bitcoins at $0.05 I would still be saying that bitcoins today are fantastic and the price is brilliant. But the vast majority of bitcoin users do not.
Haha, yeah. I completely agree, this is the sort of thing governments would do to manipulate the public. Log chart for 0.05-1$, seriously? Get in touch with reality and have a look at the volume in USD. Then see how many people bought at 20-30 for their first time. Also, the downtrend from 32 has been longer than any other in history (where it always exceeded the former high in just 2 months), and much sharper. From 32 to 5.74 it’s a 82% regression, and we are currently 76% down. So no, it’s apparently not a historically normal correction. Your kind has brought up the same thing when Bitcoin declined from 30 to 20, leading many people to hold on to their losing investment. So I say GTFO with your "objective" data of when Bitcoin was something noone has ever heard of. |
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