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Author Topic: Should I buy now or wait?  (Read 1139 times)
TheBitMan
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June 12, 2011, 03:23:37 PM
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I want to open a Bitcoin casino (not spamming) and it is no where near done but I would like to buy some Bitcoins to give away on my site for a promotion.
So the question is buy now or wait a week or so? Also what is the best way and site to buy them?
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Goldenmaw
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June 12, 2011, 03:27:24 PM
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You just missed a huge price crash.  Bitcoin is still a relatively small economy, and it pretty much blows around with the wind.  If you are patient, I guarantee you will be able to buy Bitcoins at $10 dollars or less within a month.  Don't be stunned if it rises to $50 - it will, but it will also drop back down.  It is probable there will be another crash after this recent rally, and probable that another rally will occur after that.
TheBitMan
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June 12, 2011, 03:31:02 PM
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You just missed a huge price crash.  Bitcoin is still a relatively small economy, and it pretty much blows around with the wind.  If you are patient, I guarantee you will be able to buy Bitcoins at $10 dollars or less within a month.  Don't be stunned if it rises to $50 - it will, but it will also drop back down.  It is probable there will be another crash after this recent rally, and probable that another rally will occur after that.
Thanks!
Findeton
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June 12, 2011, 03:38:03 PM
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If you're going to give away those bitcoins, then you shouldn't care that much about the price. Just buy a bunch of them. i think price will rise tomorrow, so either way you buy now or you buy next weekend.

You just missed a huge price crash.  Bitcoin is still a relatively small economy, and it pretty much blows around with the wind.  If you are patient, I guarantee you will be able to buy Bitcoins at $10 dollars or less within a month.  Don't be stunned if it rises to $50 - it will, but it will also drop back down.  It is probable there will be another crash after this recent rally, and probable that another rally will occur after that.

I think next crashes will go down from higher figures to higher figures, because of rising difficulty. Yeah, they say difficulty doesn't affect price. But it does, otherwise price would have dropped down to 0.1$ and not down to 10$.

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imperi
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June 12, 2011, 03:44:05 PM
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You just missed a huge price crash.  Bitcoin is still a relatively small economy, and it pretty much blows around with the wind.  If you are patient, I guarantee you will be able to buy Bitcoins at $10 dollars or less within a month.  Don't be stunned if it rises to $50 - it will, but it will also drop back down.  It is probable there will be another crash after this recent rally, and probable that another rally will occur after that.

Lol... you are like the people who thought the crash from $5 to $3 would happen again.
Nesetalis
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June 12, 2011, 03:46:44 PM
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price is driven by scarcity and panic buying/selling.

the more people there are, the fewer bitcoins to go around. And there are alot of bitcoins held in hands that arnt even thinking of selling, or cant without crashing the market.
difficulty does not affect the price because the rate of bitcoin inflation does not fluctuate much. A higher number of miners can decrease the value of bitcoin, but the difficulty increase simply normalizes the rate of inflation, not raise the price.

so the more people added to the pot, the more your bitcoins are worth.

ZOMG Moo!
Grant
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June 12, 2011, 03:51:36 PM
 #7

I guarantee you will be able to buy Bitcoins at $10 dollars or less within a month.

I consider that an invitation for a bet Smiley

Go here: https://bitoption.org/?closedate=2011-06-16
And sell me short the $10.00 Call option expiring in just 4 days. If your really so sure you'll make an EASY $1 profit per bitcoin option you sell me.

Goldenmaw
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June 12, 2011, 03:56:52 PM
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Why would I take a bet on my ability to play the market, when I could just play the market in the first place?
FreeMoney
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June 12, 2011, 03:59:36 PM
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Why would I take a bet on my ability to play the market, when I could just play the market in the first place?

Because with your knowledge that you can get them for $10 you can make a giant ass load of money by selling ITM calls for huge amounts and no risk to you at all.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
imperi
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June 12, 2011, 04:01:22 PM
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Why would I take a bet on my ability to play the market, when I could just play the market in the first place?

Because with your knowledge that you can get them for $10 you can make a giant ass load of money by selling ITM calls for huge amounts and no risk to you at all.

This. FreeMoney is right. With your knowledge and certainty of the market, you could make a killing off of options trading.
Goldenmaw
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June 12, 2011, 04:28:26 PM
 #11

I am thrilled at all of these kind suggestions to help me in my quest for fortune.  The resoundingly magnanimous nature of this community catches my breath, at times.
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