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Author Topic: Is there any reason why BTC might suddenly go up in the near future?  (Read 1280 times)
johnwhitestar
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August 21, 2012, 08:42:25 PM
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Everybody speaks about imminent collapse in the price of BTCs, so I'm asking myself whether there might be any reason for BTCs to go up.

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terrytibbs
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August 21, 2012, 08:44:17 PM
 #2

Nope, no reason. You should sell.
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August 21, 2012, 08:46:43 PM
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Blockchain is too large. I think when scalability issue is solved, we'll see a stronger bitcoin.

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August 21, 2012, 09:02:52 PM
 #4

Nope, no reason. You should sell.

Why is it than that even if there are 9.753M BTCs we are seeing only 254.008 in sell on MTGOx?

What if the big pirate bank investors, once they'll receive their BTC (if any), will not follow the panic sell trend of the small investors waiting, instead, the price of BTC to get higher, and than sell their bitcoins in the small amounts, which would make more sense, from their point of view?

And another think: we are seeing 50.000 - 100.000 BTC traded each day on MTGOX, if the price will fall down even the large 500.000 amount pirate40 is speaking about might be absorbed quickly by traders who believe in BTCs.

What do you think?

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August 22, 2012, 12:01:04 AM
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That's funny, I was thinking the same thing and came to this forum to see if anyone was discussing it. (Made this account 1.5 years ago, first mined in 2009 for a bit on a CPU but have preferred to lurk thus far.) I wonder how many other people are thinking this. The common wisdom is that BTC will drop but there is the contrarian in me saying otherwise...

Many things are already factored in... is shorting allowed on mtgox? I have never actually used it. Not that I would do that but I am wondering how it could effect the market. There could be a "short squeeze" as in the stock market but I don't know how sophisticated the trading platform is.

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August 22, 2012, 12:25:28 AM
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Blockchain is too large. I think when scalability issue is solved, we'll see a stronger bitcoin.

It pretty much has been solved, with lightweight clients like Electrum.

If I've said anything amusing and/or informative and you're feeling generous:
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johnwhitestar
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August 22, 2012, 04:49:34 AM
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That's funny, I was thinking the same thing and came to this forum to see if anyone was discussing it. (Made this account 1.5 years ago, first mined in 2009 for a bit on a CPU but have preferred to lurk thus far.) I wonder how many other people are thinking this. The common wisdom is that BTC will drop but there is the contrarian in me saying otherwise...

Many things are already factored in... is shorting allowed on mtgox? I have never actually used it. Not that I would do that but I am wondering how it could effect the market. There could be a "short squeeze" as in the stock market but I don't know how sophisticated the trading platform is.

Would you please explain how the shorting works for those, like me, who are not aware of it?

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August 22, 2012, 05:19:10 AM
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That's funny, I was thinking the same thing and came to this forum to see if anyone was discussing it. (Made this account 1.5 years ago, first mined in 2009 for a bit on a CPU but have preferred to lurk thus far.) I wonder how many other people are thinking this. The common wisdom is that BTC will drop but there is the contrarian in me saying otherwise...

Many things are already factored in... is shorting allowed on mtgox? I have never actually used it. Not that I would do that but I am wondering how it could effect the market. There could be a "short squeeze" as in the stock market but I don't know how sophisticated the trading platform is.

Man, if you really did start mining in '09 you had a chance to make a killing.. Back then, Mining with a CPU was not too hard and very cheap, granted, btc wasn't worth too much, mostly just good for trading, etc.

With every new bitcoin development, we see more stability, yes, we will have drama and thefts, but those should start slowing down as people get more security minded and wiser. The reason that you dont see 500k coins or more traded a day is becuase most of the coins are being held by miners and investors. I hope to see the bitcoin used like a traditional currency, but i think it will be used as a investment tool.

But, when bitinstant gets their debit cards out in the next couple months, you will then be able to use a mastercard and the bitcoins in your account are immediately taken out, converted to dollars or euro and and then spend. No more having to buy coin then sale it, then put it on a card..

After each passing month, the trading gets a little bigger, wait til the halving in December, only half of the bitcoins will be made.. That alone should make the bitcoin rise...

It will always have its up and downs.. I dont think that it will ever go away.
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August 22, 2012, 06:34:58 AM
 #9

btc will benefit from impending collapse o fiat currencies...

it makes mobility possible as capital controls and other legislation get implemented...

im afraid it will skyrocket
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August 22, 2012, 07:10:51 AM
 #10

Pirate default.  The price is low now because people are scared of depositors dumping coins.  Some people who lost money to pirate might also want to buy some coins to replenish their holdings.

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August 23, 2012, 05:38:30 PM
 #11

That's funny, I was thinking the same thing and came to this forum to see if anyone was discussing it. (Made this account 1.5 years ago, first mined in 2009 for a bit on a CPU but have preferred to lurk thus far.) I wonder how many other people are thinking this. The common wisdom is that BTC will drop but there is the contrarian in me saying otherwise...

Many things are already factored in... is shorting allowed on mtgox? I have never actually used it. Not that I would do that but I am wondering how it could effect the market. There could be a "short squeeze" as in the stock market but I don't know how sophisticated the trading platform is.

Would you please explain how the shorting works for those, like me, who are not aware of it?

Shorting is the act of borrowing a security, with the intent of returning it after a specified amount of time in addition to an amount of interest.

Shorting BTC would be the act of borrowing some, selling it at a high price, and then buying some BTC later on when the price is lower to pay back to the person who loaned it to you, and pocketing the difference as profit.

The risk you are taking is that the price of BTC would increase, and you would be out money when you had to pay the higher premium for the replacement BTC. So it's basically the opposite of typical investing, where you are betting the price will increase. In the case of shorting, your hope is that you are right about BTC being overpriced and that a correction will net you some profit.
johnwhitestar
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August 23, 2012, 08:04:12 PM
 #12

Thank you very much for your explanation, I didn't know the term, but I was aware of the technique.

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