Price down to 1.25 - How low will it go?

[Ivanhoe]

I don't understand what are you guys trying to say, other alt coin?

Now the price has continued sinking down to 4.25, it does not show any signs of slowing down.

Units???

We are quoting the price of 1 USD (or anything else) in milliBitcoins (mBTC = BTC0.001). For this change of viewpoint, we are able to turn everything upside down, and that is fun.

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[Ivanhoe]

I don't understand what are you guys trying to say, other alt coin?

We are quoting the price of 1 USD (or anything else) in milliBitcoins (mBTC = BTC0.001). For this change of viewpoint, we are able to turn everything upside down, and that is fun.

[Peter Lambert]

It is crashing  We are almost at 5, and as a large holder of USD this troubles me.

And now we are down to 4.6, this drop is still going. Anybody want to guess where we will hit a bottom? I think it would be reasonable to get down to 3 or even 2 before the market stabilizes again. Anybody think we are going below 1 before the end of the year?




[Note to Moderators:] Despite this message being deleted (I am not sure why?) I am reposting it. Please read the thread carefully before deleting this post. I do not feel that this tread is any worse than the many other threads analyzing the price in this subforum.

[rpietila]

It is crashing  We are almost at 5, and as a large holder of USD this troubles me.

And now we are down to 4.6, this drop is still going. Anybody want to guess where we will hit a bottom? I think it would be reasonable to get down to 3 or even 2 before the market stabilizes again. Anybody think we are going below 1 before the end of the year?

I know exactly one person who believes in the accelerated crash and breach of 1 this year, and it is not even me. To add some credibility, he is the one who introduced bitcoin to me in 2010.

My take on the matter is that dollar reaches an interim bottom of 0.5 next april but I cannot make myself to believe in large action this year. Something between 3 and 2 would be a safe bet.

[Peter Lambert]

It is crashing  We are almost at 5, and as a large holder of USD this troubles me.

And now we are down to 4.6, this drop is still going. Anybody want to guess where we will hit a bottom? I think it would be reasonable to get down to 3 or even 2 before the market stabilizes again. Anybody think we are going below 1 before the end of the year?

I know exactly one person who believes in the accelerated crash and breach of 1 this year, and it is not even me. To add some credibility, he is the one who introduced bitcoin to me in 2010.

My take on the matter is that dollar reaches an interim bottom of 0.5 next april but I cannot make myself to believe in large action this year. Something between 3 and 2 would be a safe bet.

We still have over two months left in 2013. If the price starts dropping parabolically, it could over-correct and shoot below 1 very quickly. I do not think the rate will stay below 1, I suspect we will see the next leveling off somewhere between  3 and 5.

[Peter Lambert]

Price has dropped down to 3.09, it has gone down fast the past day! Anybody want to guess at a bottom before the price comes back up?

[rocks]

Price has dropped down to 3.09, it has gone down fast the past day! Anybody want to guess at a bottom before the price comes back up?

A discussion over on the Wall Observer BTC/USD thread is when to start to discuss BTC/USD prices in terms of mBTC.

So a similar question here is when to switch to using USD / µBTC. 

[Savior]

The US cent is now down to under 3200 satoshis, and I think it might go under 3000 this week. A big question, when will we see tripple digits for the first time?

[rocks]

The US cent is now down to under 3200 satoshis, and I think it might go under 3000 this week. A big question, when will we see tripple digits for the first time?

They are talking more and more about getting rid of the US penny because a cent is nothing now.

We are talking more and more about shifting to using pennies and micro pennies.

What does this tell you?

[rpietila]

The US cent is now down to under 3200 satoshis, and I think it might go under 3000 this week. A big question, when will we see tripple digits for the first time?

Reliable sources estimate anything between 1 to 8 months.

[nimda]

I have lost a good deal of my net worth these past few weeks due to these market movements. Deeply concerned - will USD continue to drop? I am sad to say USD represents a large minority of my portfolio.

[rpietila]

I have lost a good deal of my net worth these past few weeks due to these market movements. Deeply concerned - will USD continue to drop? I am sad to say USD represents a large minority of my portfolio.

Perhaps USD money masters should take some corrective action.. If this kind of drop continues, nobody can soon trust fiat to keep its value!!

[Peter Lambert]

Over the past couple weeks the price plummeted from 5.0 all the way down to 1.25, it looks like that was a dead cat bounce back up to 2.5, the price seems currently to be settling at about 1.4. This price looks shaky, the volatility is still high and the price could continue dropping, it might even go below 1 soon.

If the price drops to about 0.8 then USD will be equally worthless against bitcoins and ounces of gold.

[rpietila]

Over the past couple weeks the price plummeted from 5.0 all the way down to 1.25, it looks like that was a dead cat bounce back up to 2.5, the price seems currently to be settling at about 1.4. This price looks shaky, the volatility is still high and the price could continue dropping, it might even go below 1 soon.

If the price drops to about 0.8 then USD will be equally worthless against bitcoins and ounces of gold.

Given the fact that ounces of gold outnumber bitcoins currently about 400:1, I expect ounces of gold to become increasingly more worthless against bitcoins.

[Peter Lambert]

Over the past couple weeks the price plummeted from 5.0 all the way down to 1.25, it looks like that was a dead cat bounce back up to 2.5, the price seems currently to be settling at about 1.4. This price looks shaky, the volatility is still high and the price could continue dropping, it might even go below 1 soon.

If the price drops to about 0.8 then USD will be equally worthless against bitcoins and ounces of gold.

Given the fact that ounces of gold outnumber bitcoins currently about 400:1, I expect ounces of gold to become increasingly more worthless against bitcoins.

I guess the big question is what the market cap ratio of bitcoins and gold will be in the long term? Will all of the value currently stored as gold be transferred to bitcoins? Gold has some utility for industrial, electronic, and jewelry uses (and as a medium for long-term storage of bitcoin wallets due to its non-corrosiveness), so the price of gold will never go all the way to 0, but the monetary markup is a huge component of its current price.

[oakpacific]

My advice is to take long term short position in USD. Hold as little USD as possible, always borrow when you need it, coz there is too much outta there and it will always be cheaper when you return the loan!

[reannypleas]

My advice is to take long term short position in USD. Hold as little USD as possible, always borrow when you need it, coz there is too much outta there and it will always be cheaper when you return the loan!

I dont agree, loans have much higher interest than inflation.

But hold as little USD as possible is good advice

[oakpacific]

My advice is to take long term short position in USD. Hold as little USD as possible, always borrow when you need it, coz there is too much outta there and it will always be cheaper when you return the loan!

I dont agree, loans have much higher interest than inflation.

But hold as little USD as possible is good advice

Well, that depends on where you spend you borrowed USDs, those who have borrowed to buy bitcoins must be feeling really good right now

[Mondy]

My advice is to take long term short position in USD. Hold as little USD as possible, always borrow when you need it, coz there is too much outta there and it will always be cheaper when you return the loan!

I dont agree, loans have much higher interest than inflation.

But hold as little USD as possible is good advice

Well, that depends on where you spend you borrowed USDs, those who have borrowed to buy bitcoins must be feeling really good right now

Unless they bought at the highest high!

[wannasurf]

I wish there was some way to short USD