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Author Topic: bitcoin down to 25  (Read 1938 times)
rx5yt
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June 08, 2011, 09:07:04 PM
 #1

should we be worried?
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lemonginger
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June 08, 2011, 09:08:59 PM
 #2

what are you worried about? BTC could drop all the way to $1 again and still be perfectly useful as means of exchange. Only ppl that are worried are people that have no understanding of why putting money into a market this volatile is going to be a bumpy ride and ppl that think that BTC is a get rich quick straight shot to the moon.
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June 08, 2011, 09:10:07 PM
 #3

Nah, it might have been too early for $30 but $25 still represents growth from yesterday's close/average and it's still above today's low. markets spike and valley and stabilize, it's just what they do.

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June 08, 2011, 09:11:09 PM
 #4

$30+ is not a realistic value for BTC at 567000 difficulty in the current market.

$24 to $27 is realistic until difficulty increases again.

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kiwiasian
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June 08, 2011, 09:12:18 PM
 #5

Not really, I mean less than 24 hours ago is was $23. I would presume that it would get back up to $30 within a few days. Or it might be $1 again, who knows. It could be the beginning of a crash.

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rx5yt
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June 08, 2011, 09:13:20 PM
 #6

yah i get that it could be a usable currency and thats great.  but i honestly dont really care if it is.  im looking at this as a stock.  im a kid with little money who is trying to get a little more through this blowing up
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June 08, 2011, 09:16:19 PM
 #7

yah i get that it could be a usable currency and thats great.  but i honestly dont really care if it is.  im looking at this as a stock.  im a kid with little money who is trying to get a little more through this blowing up

investment reward is nearly always commensurate with its risks. You can't double your money in a week without a high risk of it moving in the other direction.
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June 08, 2011, 09:16:39 PM
 #8

Or you can wait until Asia wakes up. The Monies from Dwollar wind up in peoples accounts at Mt. Gox and when the US wakes up in the morning it will be at 40. We will wish we would have bought during this current dip.


Full disclosure, I don't have very many coins, just hoping that when we shift the decimal point the UBC's go to dollar parity so I can retire.

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rx5yt
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June 08, 2011, 09:18:31 PM
 #9

yah i get that it could be a usable currency and thats great.  but i honestly dont really care if it is.  im looking at this as a stock.  im a kid with little money who is trying to get a little more through this blowing up

investment reward is nearly always commensurate with its risks. You can't double your money in a week without a high risk of it moving in the other direction.
yah i get that.  thats why i made this thread.  if i thought investing always had a high return i wouldnt be worried
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June 08, 2011, 09:23:06 PM
 #10

You should get worried the first time you hear about an exchange being shut down and all money in it seized or you hear about a huge double spending attack.

Until then, just buy BTC and then check the price in about a year, not a day.
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June 08, 2011, 09:27:28 PM
 #11

$30+ is not a realistic value for BTC at 567000 difficulty in the current market.

$24 to $27 is realistic until difficulty increases again.

This.

Price is largely determined by the market these days, but that fluctuation is only a reflection of the demand. The supply is still the miners and the suppliers, so far, have held strong in enforcing a sort of "floor" for the BTC/USD rate. Difficulty divided by price fluctuates a bit but tends to stay between 20 and 25 thousand. at $30 for 567,000 difficulty, the ratio is 18,900 which is far too low. A decent guess for average price based on a period at difficulty x is x/22500 which for current values of x is about $25.20 USD per BTC.

There almost certainly will come a day when this math breaks, but so far it's held pretty strong.

rx5yt
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June 08, 2011, 10:09:26 PM
 #12

You should get worried the first time you hear about an exchange being shut down and all money in it seized or you hear about a huge double spending attack.

Until then, just buy BTC and then check the price in about a year, not a day.
i dont have the money to wait for a year.  was hoping to wait a week or so and have it go up another 10-20 then cash out.  and as everyone is syng 30 isnt a reasonable number its gonna drop eventually, why would i wait until then
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June 08, 2011, 10:15:24 PM
 #13

You should get worried the first time you hear about an exchange being shut down and all money in it seized or you hear about a huge double spending attack.

Until then, just buy BTC and then check the price in about a year, not a day.
i dont have the money to wait for a year.  was hoping to wait a week or so and have it go up another 10-20 then cash out.  and as everyone is syng 30 isnt a reasonable number its gonna drop eventually, why would i wait until then

If you want to double your cash quick then go play blackjack.

BTC is a commodity with a fluid value that scales pretty well with current difficulty level and demand.
If you need 20 bucks badly cut lawns for 2 hours in the real world.

If you want to "invest" then wait until difficulty is at 3 million and sell your 1 BTC for 50 dollars.

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yyduinihao0
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June 08, 2011, 10:22:06 PM
 #14

with the way too "dynamic" market we have right now. I always followed a "dig and sell" theory. I am looking for money in this system but I will never take the huge risk.

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bittersweet
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June 08, 2011, 10:23:02 PM
 #15

Quote
should we be worried?

You should be worried if you invest in something you don't understand.
You should be really worried if you speculate with money you can't afford to lose.

My Bitcoin address: 1DjTsAYP3xR4ymcTUKNuFa5aHt42q2VgSg
digdugg67
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June 08, 2011, 10:36:52 PM
 #16

Quote
should we be worried?

You should be worried if you invest in something you don't understand.
You should be really worried if you speculate with money you can't afford to lose.

+1

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rx5yt
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June 08, 2011, 10:43:55 PM
 #17

Quote
should we be worried?

You should be worried if you invest in something you don't understand.
You should be really worried if you speculate with money you can't afford to lose.
u act like i bit off more than i can chew.  if u read my posts above you will see that i am not that worried about the money since im not stupid enough to put all my mney in somthing that doesnt promise a payback.  i was asking if this is the beginning of a crash. i have a job, thats how i make my quick money.  cant blame me for trying to make money on something thats value is increased 6-fold over the last month
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