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Author Topic: Higher price. More people should sell.  (Read 3053 times)
aurora
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February 07, 2013, 06:31:57 PM
 #1

At least thats how it works in stock market. But it doesn look like too many players wanna get rid off their coins. I guess most people with coins go with the flow.
What is reason you are not selling?
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February 07, 2013, 06:34:41 PM
 #2

The bitcoin market cap is still in the 100 million dollar range

If "instagram" is worth $1b, then bitcoins are worth much more than that. Not selling until triple digits



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February 07, 2013, 06:40:47 PM
 #3

http://en.wikipedia.org/wiki/Veblen_good

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February 07, 2013, 07:06:53 PM
 #4

it went up $10 in 2 montns. Why sell? I know someone who sold at $13 and they're kicking themself over it.

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February 07, 2013, 09:29:54 PM
 #5

Considering that I keep a client open all the time and it is always uploading the blockchain at full speed to other users,
I would say people are pouring in like rain!!!

Better keep those bitcoins!  Grin
aurora
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February 07, 2013, 10:26:02 PM
 #6

seems to me that price only going up cause too many dreamers are out here
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February 07, 2013, 11:27:47 PM
 #7

seems to me that price only going up cause too many dreamers are out here

Isn't that what a market is? Either too many dreamers or too many nay-sayers!!  Wink
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February 07, 2013, 11:27:50 PM
 #8

it went up $10 in 2 montns. Why sell? I know someone who sold at $13 and they're kicking themself over it.

Inevitably this short term trend will correct and reverse and then people will suddenly find themselves holding more bitcoins that they thought they needed which will fuel a spending/exchanging circle until we find a bottom and repeat the whole pendulum swinging cycle.


The reason this is so hard to picture is because many people falsely think there is a such a thing as an equilibrium.

The reality is an equilibrium is purely theoretical and in practice the market is constantly readjusting. Currently the market is readjusting to a rising exchange rate, which if the demand keeps up might rise for a while longer but there will come a point when we run out of people wanting bitcoins, remember people can't eat them, or wear them, pr live in them and there is a finite number of people, so yes there's a limit to the demand and when we get to it the trend will reverse and the market will continue to correct except now it will correct in the opposite direction where even the correction itself will become a contributing factor to the correction until again people realize they could use some more bitcoins instead of other stuff where the market will again correct. And this will go on and on and on for ever, because there is no equilibrium.

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February 07, 2013, 11:58:35 PM
 #9

more bitcoins that they thought they needed

un-possible!
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February 08, 2013, 03:53:48 AM
 #10

As long as the fiat economy is mostly functional, Bitcoins are likely in very strong hands.  We'll see how many are selling in a few months, though.

Civil Liberty Through Complex Mathematics
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February 08, 2013, 04:04:44 AM
 #11

I'm not selling because I don't need to buy anything. It's this revolutionary concept called "saving." I know, I know.
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February 08, 2013, 04:06:33 AM
 #12

I'm not selling because I don't need to buy anything. It's this revolutionary concept called "saving." I know, I know.

"Saving" with Bitcoin is probably a very stupid thing to do. It's more of an "investment".
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February 08, 2013, 04:46:54 AM
 #13

I'm not selling because I don't need to buy anything. It's this revolutionary concept called "saving." I know, I know.

"Saving" with Bitcoin is probably a very stupid thing to do.
I disagree. Saving with fiat, however, definitely would be.
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February 08, 2013, 03:50:13 PM
 #14

it went up $10 in 2 montns. Why sell? I know someone who sold at $13 and they're kicking themself over it.

Inevitably this short term trend will correct and reverse and then people will suddenly find themselves holding more bitcoins that they thought they needed which will fuel a spending/exchanging circle until we find a bottom and repeat the whole pendulum swinging cycle.


The reason this is so hard to picture is because many people falsely think there is a such a thing as an equilibrium.

The reality is an equilibrium is purely theoretical and in practice the market is constantly readjusting. Currently the market is readjusting to a rising exchange rate, which if the demand keeps up might rise for a while longer but there will come a point when we run out of people wanting bitcoins, remember people can't eat them, or wear them, pr live in them and there is a finite number of people, so yes there's a limit to the demand and when we get to it the trend will reverse and the market will continue to correct except now it will correct in the opposite direction where even the correction itself will become a contributing factor to the correction until again people realize they could use some more bitcoins instead of other stuff where the market will again correct. And this will go on and on and on for ever, because there is no equilibrium.


Nice long ramble, but honestly right now, no one knows what the hell bitcoins are. News is spreading like wildfire and new people are coming every day.

Its about supply and demand.
Right now the supply is there, but the demand isn't.
The price is still going up up and away.
Once people actually find out what bitcoins are, there will be a demand, its a sloooooooooooooow process.. Right now slowly more people are finding out and more merchants are accepting.

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February 08, 2013, 05:09:30 PM
 #15

Its about supply and demand.
Right now the supply is there, but the demand isn't.
The demand (for the supply that "is there") is clearly there, or the price wouldn't be going up.

If you're saying we're nowhere near the ceiling for that demand, I completely agree.
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February 08, 2013, 05:30:36 PM
 #16

The bitcoin market cap is still in the 100 million dollar range

If "instagram" is worth $1b, then bitcoins are worth much more than that. Not selling until triple digits
3xxx range for me. (~50b$ mkt cap)
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February 08, 2013, 06:28:10 PM
 #17

I'm not selling because I don't need to buy anything. It's this revolutionary concept called "saving." I know, I know.

"Saving" with Bitcoin is probably a very stupid thing to do. It's more of an "investment".

Fiat is guaranteed to lose purchaing value. Bonds rates are less than inflation. Equities are generally overpriced and heavily manipulated against the little guys. So the average person (who can't afford to build their own business, or put savings into buying real estate) it really just left with commodities and bitcoin as reasonable options. Most commodities are hard to sell rapidly if you need it. Even with gold and silver, you can expect to lose 5-10% in USD when purchasing and selling. Bitcoin seems to be a good choice among a mixed bag of savings, along with things like guns and bullets, non-perishable food, PM's, etc.
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February 08, 2013, 07:03:25 PM
 #18

High price? maybe $1000/bitcoin. but 20ish., that's not high.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin in AFRICA - https://bitcointalk.org/index.php?topic=2710325.msg27720734
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February 08, 2013, 09:04:34 PM
 #19

At least thats how it works in stock market. But it doesn look like too many players wanna get rid off their coins. I guess most people with coins go with the flow.
What is reason you are not selling?

I tried, man! I dumped $30,000 worth of coins on the market, and the price is STILL rising!

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February 08, 2013, 09:14:27 PM
 #20

At least thats how it works in stock market. But it doesn look like too many players wanna get rid off their coins. I guess most people with coins go with the flow.
What is reason you are not selling?

I tried, man! I dumped $30,000 worth of coins on the market, and the price is STILL rising!

Thanks, got a few at 22.05 and 22.15. Let's see if I'm the stupid?

                                                                               
                
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