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seldon
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May 06, 2013, 10:53:26 PM |
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If we hit double digits again - I'll pawn stuff to buy more btc if I have to.
Might wanna head to the pawn shop now because I just don't see how Bitcoin is not going to retest its lows and it will be in double digits long before that. My feeling has been consistent with most that that's probably around the 50 mark. Dosen't mean its coming in some huge crash but I feel like Bitcoin's long term viability depends on it. Every up swing is based on pure speculation so even if it should launch to 1000 tomorrow, there's nothing really holding it up and thus...well...you know..."the bigger they are, the harder they fall." I want cheaper Bitcoins like anyone but if you're a long term believer in Bitcoin, slow steady growth is what is needed to prevent all this volatility, that is keeping businesses from adopting this currency. I am deeply agree with you that volatility will killing bitcoin for daily uses. As long as less then a million $ can move the rate 10% up or down there won't be stable rates imho. So the only way to get a (halfway) stable rate would be through hugely increased market cap (==hugely increased exchange rate). |
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Rampion
Legendary
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Activity: 1148
Merit: 1018
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May 06, 2013, 11:10:14 PM |
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If we hit double digits again - I'll pawn stuff to buy more btc if I have to.
Almost the same here. At least if we go under $50. Then it's time to sell the car, computer, fridge etc. Because of this is unlikely that we will go again below $50 |
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Coinseeker
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May 06, 2013, 11:17:23 PM |
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If we hit double digits again - I'll pawn stuff to buy more btc if I have to.
Might wanna head to the pawn shop now because I just don't see how Bitcoin is not going to retest its lows and it will be in double digits long before that. My feeling has been consistent with most that that's probably around the 50 mark. Dosen't mean its coming in some huge crash but I feel like Bitcoin's long term viability depends on it. Every up swing is based on pure speculation so even if it should launch to 1000 tomorrow, there's nothing really holding it up and thus...well...you know..."the bigger they are, the harder they fall." I want cheaper Bitcoins like anyone but if you're a long term believer in Bitcoin, slow steady growth is what is needed to prevent all this volatility, that is keeping businesses from adopting this currency. I am deeply agree with you that volatility will killing bitcoin for daily uses. As long as less then a million $ can move the rate 10% up or down there won't be stable rates imho. So the only way to get a (halfway) stable rate would be through hugely increased market cap (==hugely increased exchange rate). While I do disagree with this, it's also quite possible it could be true so, I respect your opinion. |
If your ignore button isn't glowing, you're doing it wrong.
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b!z
Legendary
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Activity: 1582
Merit: 1010
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May 07, 2013, 09:30:09 AM |
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I only think this because those people can't afford current price of Bitcoin ,but they had realize that Bitcoin would be a good opportunity to increase their money. Those people willing to see the price drop and then buying...
Am I right? otherwise I can't figure out any benefit for them to expect a crash on BITCOIN .
To buy cheap Bitcoins |
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seldon
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May 07, 2013, 09:49:51 AM |
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As long as less then a million $ can move the rate 10% up or down there won't be stable rates imho. So the only way to get a (halfway) stable rate would be through hugely increased market cap (==hugely increased exchange rate).
While I do disagree with this, it's also quite possible it could be true so, I respect your opinion. What is your theory how to achive stability? Or do you think this is not possible at all? |
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Zaih
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May 07, 2013, 12:06:14 PM |
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Yep.. they think they're affecting the price  |
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Razick
Legendary
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Activity: 1330
Merit: 1003
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May 07, 2013, 12:17:30 PM |
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I only think this because those people can't afford current price of Bitcoin ,but they had realize that Bitcoin would be a good opportunity to increase their money. Those people willing to see the price drop and then buying...
Am I right? otherwise I can't figure out any benefit for them to expect a crash on BITCOIN .
I think it was overvalued, and a lot of outsiders do to an even greater extent. A lower price reduces the perception of risk and make Bitcoin a more attractive investment, as well as a more attractive currency. |
ACCOUNT RECOVERED 4/27/2020. Account was previously hacked sometime in 2017. Posts between 12/31/2016 and 4/27/2020 are NOT LEGITIMATE.
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rfisher1968
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May 07, 2013, 12:57:32 PM |
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I would like the ability to sell the bitcoin short and buy and sell options ( Calls and Puts ) on the bitcoin. Allowing this to happen would stop the big random swings in the price.
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Coinseeker
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May 07, 2013, 03:55:03 PM |
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As long as less then a million $ can move the rate 10% up or down there won't be stable rates imho. So the only way to get a (halfway) stable rate would be through hugely increased market cap (==hugely increased exchange rate).
While I do disagree with this, it's also quite possible it could be true so, I respect your opinion. What is your theory how to achive stability? Or do you think this is not possible at all? I don't think it's possible, I know it's possible. I lean toward the business adoption side of things, which in turn will drive market cap by default. The more businesses that accept Bitcoin, the more confident people will become in the currency and thus the swings will become smaller and smaller as people stop freaking out all the time. More businesses bring more credibility and credibility breeds confidence. When you have confidence in Bitcoin, it will stabilize and grow at a more steady and regular pace. Right now these markets are all speculation. There's nothing driving them but pure greed and fear. Fear that the bottom can fall out at any time but with more business adoption, this fear is diminished because the chances of the bottom falling out become slimmer and slimmer. (Or at least the perception of that.) So I'd say maybe we are two sides of the same coin. I just don't think dumping tons of money into Bitcoin (market cap) will stabilize anything, so that's not the goal. We've seen that happen and it just made things more volatile. We should work toward business adoption and let market cap rise by default. That's my view anyway. |
If your ignore button isn't glowing, you're doing it wrong.
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seldon
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May 07, 2013, 05:16:08 PM |
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Indeed I have to agree, that a raised market cap by increased adoption would be best!
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bitleif
Sr. Member
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Activity: 351
Merit: 250
I'm always grumpy in the morning.
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May 07, 2013, 05:57:14 PM |
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I only think this because those people can't afford current price of Bitcoin ,but they had realize that Bitcoin would be a good opportunity to increase their money. Those people willing to see the price drop and then buying...
Am I right? otherwise I can't figure out any benefit for them to expect a crash on BITCOIN .
Or not everyone is stuck in the simplistic mindset that "up is good, down is bad!". If the price is indeed going down then it's beneficial to expect it to go down, obviously. |
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crazy_rabbit
Legendary
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Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
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May 07, 2013, 06:07:44 PM |
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If you can predict the drop (or watch the market closely enough) you can sell before the price drops too far and rebuy before it rises too much. It's like we are all playing chicken against one another. It's exciting and we hope to profit from it.
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more or less retired.
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xavier
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May 07, 2013, 06:15:00 PM |
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I only think this because those people can't afford current price of Bitcoin ,but they had realize that Bitcoin would be a good opportunity to increase their money. Those people willing to see the price drop and then buying...
Am I right? otherwise I can't figure out any benefit for them to expect a crash on BITCOIN .
Because we predicted a fall ages ago and put some shorts in. Now we're cashing out. Thanks to those guys who were hyping the price back in March & April. You guys are paying our profits!!! |
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Gabi
Legendary
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Activity: 1148
Merit: 1008
If you want to walk on water, get out of the boat
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May 07, 2013, 06:23:00 PM |
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I only think this because those people can't afford current price of Bitcoin ,but they had realize that Bitcoin would be a good opportunity to increase their money. Those people willing to see the price drop and then buying...
Am I right? otherwise I can't figure out any benefit for them to expect a crash on BITCOIN .
Because bitcoin is going to engage the warp drive and skyrocket to much higher prices. A crash only means cheaper coins and is a good thing! |
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Qoheleth
Legendary
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Activity: 960
Merit: 1028
Spurn wild goose chases. Seek that which endures.
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May 08, 2013, 06:37:37 PM |
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Bitcoins are useful.
They're the only currency, token, instrument or credit you can use to pay for data to be signed into the blockchain (where it will remain indefinitely until spent). Furthermore, they're the unit of record for those transactions - any other atomically-transferrable blockchain object must be "made of" bitcoins. That's huge. That's intrinsic value.
If I can buy something of intrinsic value for cheap (compared to recent prices), why wouldn't that feel pretty cool?
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If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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evolve
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May 08, 2013, 08:25:52 PM |
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Could an alternative explanation be that some people think that BTC is very overvalued based on speculations at the moment?
There is no benefit in expecting either a crash or a boom, the benefit is in predicting it and buying in or selling out at a favourable moment.
+1 |
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Welsh
Staff
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Activity: 3318
Merit: 4115
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May 08, 2013, 08:28:05 PM |
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It's good, the more it falls the more people come in and buy.
Then it rises and theres more bitcoin to spend among bitcoin users, creating more profit for businesses.
I think it's good and bad though, people who have invested of course it's bad, unless you were here in early 2012 when the price was amazingly low and you invested then.
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