Bitcoin Forum
October 16, 2021, 04:11:36 PM *
News: Latest Bitcoin Core release: 22.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1] 2 3 »  All
  Print  
Author Topic: Is bitcoin stabalizing again or will it plummet even further than the weekend?  (Read 4899 times)
Projects
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


View Profile
August 21, 2012, 12:53:27 PM
 #1

Just curious to everyones opinion, is the value going to stabalize at around $10 for a while or is it going to crash/rally again in the near future?

Buying Bitcoins for cash or gold/silver bullion many methods to pay you - pm me for more information
Bank transfer, Cash, Postal Order, Western Union, MoneyGram, SEPA, Amazon & More  - Worldwide Transfers Available
*NEW* BTC for Citibank P2P transfers - USD/EUR please pm me for more information
1634400696
Hero Member
*
Offline Offline

Posts: 1634400696

View Profile Personal Message (Offline)

Ignore
1634400696
Reply with quote  #2

1634400696
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1634400696
Hero Member
*
Offline Offline

Posts: 1634400696

View Profile Personal Message (Offline)

Ignore
1634400696
Reply with quote  #2

1634400696
Report to moderator
Piper67
Legendary
*
Offline Offline

Activity: 1106
Merit: 1001



View Profile
August 21, 2012, 01:02:11 PM
 #2

Just curious to everyones opinion, is the value going to stabalize at around $10 for a while or is it going to crash/rally again in the near future?


Yes
DeathAndTaxes
Donator
Legendary
*
Offline Offline

Activity: 1218
Merit: 1017


Gerald Davis


View Profile
August 21, 2012, 01:04:58 PM
 #3

Yes.  No.  Maybe.  Both.  Neither.

Game theory time:
If someone actually could predict the market it would be in their best interest to not tell you (trading is a zero sum game).
If someone can't predict the market it would be in their best interest to lie and have you become the counterparty for their trade (allow them to sell for more or buy for less).

LoweryCBS
Sr. Member
****
Offline Offline

Activity: 364
Merit: 250


firstbits 1LoCBS


View Profile
August 21, 2012, 01:10:39 PM
 #4

If someone actually could predict the market it would be in their best interest to not tell you (trading is a zero sum game).
If someone can't predict the market it would be in their best interest to lie and have you become the counterparty for their trade (allow them to sell for more or buy for less).

Unless...    That's EXACTLY what they WANT you to think!

                               
elosk
Newbie
*
Offline Offline

Activity: 16
Merit: 0



View Profile
August 21, 2012, 02:02:16 PM
 #5

Personally, I believe that the market is going to drop even further than it did over the weekend. Maybe it is just that I have good faith, but I believe that Pirate will soon start paying everyone what they are owed. Once that happens, hundreds of thousands of coins will return to the market, many of which will be sold, flooding the market and bringing the prices down.
VelvetLeaf
Member
**
Offline Offline

Activity: 98
Merit: 10


View Profile
August 21, 2012, 03:11:55 PM
 #6

Buyer doesn't even want to touch the buy order at the current price
Seller want to sell at $30 $15 $10, go figure.


BTC : 1GN81dxzxyFPQsyAtdocXr5S9Mcg4wcfFG
LTC : LgmYvXsYXc4xdjsMKXJWqtagxVvioK6iaw
FC : 6dpSnKMtttUUYzaRu1EB7Lu18PBRVHU3V7
Raize
Donator
Legendary
*
Offline Offline

Activity: 1418
Merit: 1009


View Profile
August 21, 2012, 04:00:48 PM
 #7

These bids are so thin for someone who wants the price to go up so badly. And the walls are so fake. It's pretty clear someone's got a lot to sell right now, IMHO. The price is only increasing so they can get people to line up their bids for the next big sell-off.

OrganofCorti's Neighbourhood Pool Watch - The most informative website on blockchain health
skinturtle
Newbie
*
Offline Offline

Activity: 28
Merit: 0


View Profile
August 21, 2012, 04:05:35 PM
 #8

Personally, I believe that the market is going to drop even further than it did over the weekend. Maybe it is just that I have good faith, but I believe that Pirate will soon start paying everyone what they are owed. Once that happens, hundreds of thousands of coins will return to the market, many of which will be sold, flooding the market and bringing the prices down.

Nah, I believe he's gone with his 500k btc
blazing
Jr. Member
*
Offline Offline

Activity: 46
Merit: 1



View Profile
August 21, 2012, 04:15:42 PM
 #9

These bids are so thin for someone who wants the price to go up so badly. And the walls are so fake. It's pretty clear someone's got a lot to sell right now, IMHO. The price is only increasing so they can get people to line up their bids for the next big sell-off.

Agreed. I'm suprised we're still sitting at $10. It's just a matter of time.
proudhon
Legendary
*
Offline Offline

Activity: 1806
Merit: 1157



View Profile
August 21, 2012, 04:37:23 PM
 #10

Funny tweet from Enky Nakamura this morning:

Quote
It's hard for me to forecast the price range when there's an ignorant investor with 400k bitcoins in the bag,he is like a baby with a gun:)

bitcoin price cannot be sustained above $10k <---- scientific fact
jimbobway
Legendary
*
Offline Offline

Activity: 1304
Merit: 1014



View Profile
August 21, 2012, 04:43:22 PM
 #11

pirate has not paid anyone back yet.  Which means he may be planning another big move to drop prices further.  I'm positioned to buy more bitcoins when this happens.
Serge
Legendary
*
Offline Offline

Activity: 1050
Merit: 1000


View Profile
August 21, 2012, 05:15:54 PM
 #12

There are two opposite forces at work:

1. more press in the media, BitInstant's debit card being mentioned everywhere which is going to reflect in more bitcoin appreciation on top of past two weeks of news
2. possibility of pirate returning bitcoins to lenders which will put some excess stock on exchanges driving price down

result: short term volatile uncertainty
niko
Hero Member
*****
Offline Offline

Activity: 756
Merit: 500


There is more to Bitcoin than bitcoins.


View Profile
August 21, 2012, 05:17:52 PM
 #13

The price is only increasing so they can get people to line up their bids for the next big sell-off.
As in: it rained today only so I don't have to water the garden?

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
Spekulatius
Legendary
*
Offline Offline

Activity: 1022
Merit: 1000



View Profile
August 21, 2012, 06:08:09 PM
 #14

Yes.  No.  Maybe.  Both.  Neither.

Game theory time:
If someone actually could predict the market it would be in their best interest to not tell you (trading is a zero sum game).
If someone can't predict the market it would be in their best interest to lie and have you become the counterparty for their trade (allow them to sell for more or buy for less).



In this case your logic does not apply because you are dealing with a large group of traders instead of only one. When the majority of traders on the market shares your believe, the market is going your way. This is based on mass psychology and the herd behaviour.
Technomage
Legendary
*
Offline Offline

Activity: 2184
Merit: 1056


Affordable Physical Bitcoins - Denarium.com


View Profile WWW
August 21, 2012, 06:21:37 PM
 #15

We just had the biggest news since Silk Road (Bitcoin Mastercard) so I'd say buy while it's still cheap. Price may go down a bit on the short term but I'd say that the combination of the recent news, the September Bitcoin announcement and the block reward halving... going up is a near certainty.

Denarium closing sale discounts now up to 43%! Check out our products from here!
Spekulatius
Legendary
*
Offline Offline

Activity: 1022
Merit: 1000



View Profile
August 21, 2012, 06:39:54 PM
 #16

We just had the biggest news since Silk Road (Bitcoin Mastercard) so I'd say buy while it's still cheap. Price may go down a bit on the short term but I'd say that the combination of the recent news, the September Bitcoin announcement and the block reward halving... going up is a near certainty.

I totally agree...after this week has come to an end. With paybacks and 500k BTC (walls?) looming ahead, I wouldnt expect a rise too steep before this week has passed.
niko
Hero Member
*****
Offline Offline

Activity: 756
Merit: 500


There is more to Bitcoin than bitcoins.


View Profile
August 21, 2012, 06:41:15 PM
 #17

pirate has not paid anyone back yet.  Which means he may be planning another big move to drop prices further.  I'm positioned to buy more bitcoins when this happens.
Are you going to sell beforehand?

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
Elwar
Legendary
*
Offline Offline

Activity: 3570
Merit: 2376


Viva Ut Vivas


View Profile WWW
August 21, 2012, 06:41:30 PM
 #18

The price was rising slowly based on more than just the ponzi scheme. There are a lot of advances and the block reward is dropping in half. This means that we are outpacing the 50% inflation at the current rate. When the inflation rate is cut in half and we continue at this rate, that means a 25% increase in value yearly at least.

Pirate dropped about 10k BTC last month and the price dropped from $9 to $8. He dropped 100k BTC over the weekend. It was bound to fall. He can only drop it that much 4 more times.

First seastead company actually selling sea homes: Ocean Builders https://ocean.builders  Of course we accept bitcoin.
sunnankar
Legendary
*
Offline Offline

Activity: 1031
Merit: 1000



View Profile WWW
August 22, 2012, 01:30:56 AM
 #19

Pirate dropped about 10k BTC last month and the price dropped from $9 to $8. He dropped 100k BTC over the weekend. It was bound to fall. He can only drop it that much 4 more times.

Plus, I think you are underestimating the possibility of there being much deeper pockets that Pirate which kind of enjoy shaking the Bitcoin tree to see if any bitcoins fall out. And from another thread:

I have already started helping some people formulate a USD/gold to Bitcoin carry-trade.

Technomage
Legendary
*
Offline Offline

Activity: 2184
Merit: 1056


Affordable Physical Bitcoins - Denarium.com


View Profile WWW
August 22, 2012, 11:35:59 AM
 #20

http://money.cnn.com/2012/08/22/technology/startups/bitcoin-debit-card/index.html

http://www.google.com/insights/search/#q=bitcoin%20%2B%20bit%20coin%20%2B%20bitcoins&date=today%203-m&cmpt=q (The latest media wave doesn't even register here yet)

Price will surely plummet.

Denarium closing sale discounts now up to 43%! Check out our products from here!
Pages: [1] 2 3 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!