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Author Topic: Looks like BTC leveled out around 10$/coin.  (Read 1602 times)
killer2021
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June 12, 2011, 07:03:04 AM
 #1

Should get interesting from now on! Especially considering that the 30$/bitcoin price bubble has pretty much popped.

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kickerconspiracy
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June 12, 2011, 07:03:56 AM
 #2

Will be interested to see where it goes tomorrow.  I started following it about 2 weeks ago at $7/coin.
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June 12, 2011, 07:04:25 AM
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Excellent time to buy in, if you are not scared!
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June 12, 2011, 07:06:07 AM
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For me the more pressing issue is I created my Dwuala or whatever the crap account today... probably 2 business days to get the deposit thingie, then another 2 or 3 to get it to Dwuala, then another 2 or 3 to get it to Mt Gox
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June 12, 2011, 07:07:20 AM
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I'm not so sure you can conclude it'll level out at $10 ...I'm expecting it to touch $8 USD to be honest.
Ruxum
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June 12, 2011, 07:08:13 AM
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This week will be exciting for sure!

killer2021
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June 12, 2011, 07:09:19 AM
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I'm not so sure you can conclude it'll level out at $10 ...I'm expecting it to touch $8 USD to be honest.

When I say leveled out I mean it has stopped bouncing around from like 13-20$.

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June 12, 2011, 07:11:11 AM
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Excellent time to buy in, if you are not scared!

People ought to treat is as a currency and try to focus on getting businesses to accept it more.

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itsagas
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June 12, 2011, 07:11:54 AM
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Anyone betting on a rally on monday?
killer2021
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June 12, 2011, 07:12:35 AM
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Excellent time to buy in, if you are not scared!

People ought to treat is as a currency and try to focus on getting businesses to accept it more.

True but if you ask me we should get everyone to accept it more.

We need more people to use it (as a currency).
We need more business to buy/sell/trade it.

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Grant
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June 12, 2011, 07:13:51 AM
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Anyone betting on a rally on monday?

Yup, time for bitoption hoarding Smiley
Jonathan Ryan Owens
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June 12, 2011, 07:16:03 AM
 #12

Anyone betting on a rally on monday?

Once all the fund transfers hit via MtGox, there is sure to be some movement. The Dwolla snafu and other mitigating factors created a perfect storm for a slide.

Technical indicators suggest $8 as the floor, but there's a possibility of a "dead cat bounce" on Monday / Tuesday, ramping back up to $20. There's a high likelihood that difficulty is also going to increase on or around Monday.

It's going to be interesting to watch.  

relmeas
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June 12, 2011, 07:24:39 AM
 #13

the problem with bitcoin economy is that the only value bitcoin has is its usage to anonymize the cash transactions. meaning that people buy bitcoin, pay someone and then the other party immediately sells the received funds.

so the only way bitcoin in price can grow is when the need for anonymous transactions using bitcoins grows faster than the new bitcoins are generated by the miners.

except for the speculation of course but that would probably also end sooner or later ... or it wouldn't.
killer2021
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June 12, 2011, 07:30:12 AM
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the problem with bitcoin economy is that the only value bitcoin has is its usage to anonymize the cash transactions. meaning that people buy bitcoin, pay someone and then the other party immediately sells the received funds.

so the only way bitcoin in price can grow is when the need for anonymous transactions using bitcoins grows faster than the new bitcoins are generated by the miners.

except for the speculation of course but that would probably also end sooner or later ... or it wouldn't.

well lets hope some of those mexican drug cartels start using it and using the millions of dollars to buy up btc.

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mellowhead
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June 12, 2011, 07:39:33 AM
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the problem with bitcoin economy is that the only value bitcoin has is its usage to anonymize the cash transactions. meaning that people buy bitcoin, pay someone and then the other party immediately sells the received funds.

so the only way bitcoin in price can grow is when the need for anonymous transactions using bitcoins grows faster than the new bitcoins are generated by the miners.

except for the speculation of course but that would probably also end sooner or later ... or it wouldn't.

well lets hope some of those mexican drug cartels start using it and using the millions of dollars to buy up btc.
Drug money would help certainly. Getting btc involved with the porn industry would be a boon too I think.

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Valalvax
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June 12, 2011, 07:47:15 AM
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I think drugs would be a bad route, then miners will be getting busted by the cops because drug money passed through their hands, and if you honestly think it's anonymous, you're crazy.... nothing is anonymous....
mellowhead
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June 12, 2011, 07:52:14 AM
 #17

Does the grocer who sells milk to a drug lord get arrested for handling drug money?

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June 12, 2011, 07:54:01 AM
 #18

I think it still has a large potential to go down. I expect the bottom to be around 3-5 USD.

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June 12, 2011, 07:55:16 AM
 #19

I think drugs would be a bad route, then miners will be getting busted by the cops because drug money passed through their hands, and if you honestly think it's anonymous, you're crazy.... nothing is anonymous....
I would beg to differ. If you know what you're doing, Bitcoin really is, just like cash Tongue
mellowhead
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June 12, 2011, 07:56:04 AM
 #20

I think it still has a large potential to go down. I expect the bottom to be around 3-5 USD.
Nah, shouldn't go lower than about 8.

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