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deadweasel
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April 09, 2013, 06:52:00 PM |
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Why would anyone use a BTCif it's worth $1000 and expected to go up?
Just like how people with gold say they can sell/trade gold when times get tough, I hear BTC enthusiasts with similar responses. Gold is so high partially because the dollar it is pegged up against is so low. If it came down to trading gold for bread/food/water, how much do you think you'd really get for a little coin if there is no global marketplace to regulate price? If BTC are $1,000 a pop, and if you're looking to really buy something with these coins I have two questions: Why would you spend your coins if there is a mass expectation of more value in the future? and are we really going to shave off parts of a BTC to pay for this stuff?
I've been around BTC since they were in the $4-5 range. Now I wake up and see $235. With an increased price, we'll have to keep an eye on extra decimals because now those fractions of a BTC have more "value".
If all of your BTC is on paper or the internet, how would you use them if there is no power? How would an EMP bomb, let's say as a result of a new war, affect BTCmining/trading/use? How feasible is it that this currency will claim and even maintain a strong position in the global economy, and by a strong position I don't mean a bunch of nerds having nerdgasms over a speculative marketplace...I mean where it is accepted for payments in many of the major countries and where people know what I'm talking about without having to send links and/or paragraphs explaining it.
Any response will be appreciated. Thanks
i hold metals, survival gears, rifles, ammo, and most importantly, survival skill and martial arts abilities. I will spend those if need be. |
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Wekkel
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Activity: 3108
Merit: 1531
yes
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April 09, 2013, 07:03:27 PM |
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Just wait until Bitcoin is still there after 18 months from now, unpacked and alive, so that the masses start to consider it safe. One word: MASSIVE.
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kevinm
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This is not good for my Chi... Yifu
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April 09, 2013, 07:06:23 PM |
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don't think it's gonna reach 1.000$
gotta see why it's moving up right now, and just because the media. more exposure, more people wanna buy to get rich overnight.
what happens when "those people" can't afford to buy anymore?
it's one thing to buy at a price betwen 100-300$ and another thing to buy above 300$ ... it's just becomming to expensive.
and when the big mass of people wont buy anymore , what will happen? it's gonna stall (the top of the bubble). and i got a felling that it's gonna be a god damn steep fall.
i'm gonna sell 80% if it's reaches 290$/1bt and i'm more than happy with what i got from this
good luck
You may consider this: If it reaches 290, sell 40% If it reaches 350, sell 20% of your current holding After that sell 10% on each 10% rise upto your 80% hope you hit it right  Kev |
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roalwe
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April 09, 2013, 07:15:50 PM |
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don't think it's gonna reach 1.000$
gotta see why it's moving up right now, and just because the media. more exposure, more people wanna buy to get rich overnight.
what happens when "those people" can't afford to buy anymore?
it's one thing to buy at a price betwen 100-300$ and another thing to buy above 300$ ... it's just becomming to expensive.
and when the big mass of people wont buy anymore , what will happen? it's gonna stall (the top of the bubble). and i got a felling that it's gonna be a god damn steep fall.
i'm gonna sell 80% if it's reaches 290$/1bt and i'm more than happy with what i got from this
good luck
while taking profits is perfectly fine... think that the market is only 2.5 billion.... That's SOOO SMALL and the uptrend potential of bitcoin is soo huge. did you see google trends? where most of the "search request" are coming from? Russia! wait until the mob start using bitcoin fully and wait for the rest of the world to catch up and bitcoin will be at 1000 EASILY!!! Exactly. $2.5billion is *nothing* for a global currency.... I mean ***anonymous cash for the internet*** that market is staggeringly big. Well, bitcoin isn't exactly cashlike-anonymous. Don't get me wrong, I love bitcoin - almost platonically so, but blockchain's meticulous recordkeeping just begs for a coordinated data-mining effort. |
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i1andrei
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April 09, 2013, 08:23:38 PM |
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You may consider this: If it reaches 290, sell 40% If it reaches 350, sell 20% of your current holding After that sell 10% on each 10% rise upto your 80% hope you hit it right Kev i'll keep that in mind, thanks i don't know whats gonna happen if N Koreea attacks Japan these days (as they say) and how that's gonna affect BT. |
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eagle80
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April 09, 2013, 09:32:00 PM |
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i am new to bitcoin confused whether to buy at this price or wait on top of that securing bitcoin is really hard.
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Wekkel
Legendary
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yes
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April 09, 2013, 09:59:41 PM |
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i am new to bitcoin confused whether to buy at this price or wait on top of that securing bitcoin is really hard.
It depends on your intentions and perception of BTC future value. If you think it has a chance of reaching $1,000-$100,000, you could consider taking your chances. |
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eagle80
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April 09, 2013, 10:05:40 PM |
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i am new to bitcoin confused whether to buy at this price or wait on top of that securing bitcoin is really hard.
It depends on your intentions and perception of BTC future value. If you think it has a chance of reaching $1,000-$100,000, you could consider taking your chances. thanks for reply.although it has potential but end of the day it is still virtual not tangible. |
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queequeg
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April 09, 2013, 10:12:45 PM |
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For OP's convenience, I have tallied some thread highlights:i guess that's why you're on the newbies board
How do you feel today, my friend? It's just one day after your OP and exchange rate is already at $178.
OP sold too soon.
Just passed $180 today (i.e the day after OP sold) $1000 BTC this year? Starting to look more likely than not  btc now trading for $184, I guess if the OP knew what he was talking about he should have sold out now or even later.
it hit $200 today
Nice job??.. It's $215 two days later. The guy has just been rammed hard up his jaxie!
And I will add my own 2 cents: it is now up to $236.The reason I do this, is because the OP was such a self-important dick about his cash-out. Cashing out is great - I intend to cash out on a portion of my BTC eventually, or maybe even pretty soon (I need to buy a car and and could pay entirely in cash if I cashed out 100% today). But I won't cash out 100% - 50% would be ideal, as I do believe in the fundamentals BTC long-term, but I have to balance the fact that I'm moving to LA from NYC and so need to buy an automobile. So I'm gonna' ride it for a little while longer, and I'm not going to couple my cash-out with a snarky post about how everyone still holding is a bunch of suckers.
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vervolioman
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April 09, 2013, 10:33:30 PM |
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i am new to bitcoin confused whether to buy at this price or wait on top of that securing bitcoin is really hard. If your not sure then dont buy - at least you stabilize the price a bit because it will not go bit higher as it would after your buy. Good for you - good for me - everybody happy |
What use is a signature?
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jwzguy
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April 09, 2013, 10:38:35 PM |
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And I will add my own 2 cents: it is now up to $236.
The reason I do this, is because the OP was such a self-important dick about his cash-out. Cashing out is great - I intend to cash out on a portion of my BTC eventually, or maybe even pretty soon (I need to buy a car and and could pay entirely in cash if I cashed out 100% today). But I won't cash out 100% - 50% would be ideal, as I do believe in the fundamentals BTC long-term, but I have to balance the fact that I'm moving to LA from NYC and so need to buy an automobile. So I'm gonna' ride it for a little while longer, and I'm not going to couple my cash-out with a snarky post about how everyone still holding is a bunch of suckers.
He probably had no holdings to cash out, another sour-grapes loser trying hoping his post would coincide with a downturn so he could continue making self-righteous posts. We had a few of these idiots back when the price was sliding from 14 to 2. They predicted utter disaster when the price went to 3 and then 4. Anytime the price went down a few cents they'd post crap like "I tried to warn you, but you were too dumb to listen!" The best thing to do with these dummies is ignore them immediately. There's no point trying to communicate with them. |
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patnor1011
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April 09, 2013, 10:44:15 PM |
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Noooo.
Do not be so bad to OP and few of his followers.
They did what they thought was right thing at right moment.
They cashed all of their 3.2045871 BTC.
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Unluckyduck
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April 09, 2013, 11:05:31 PM |
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You really should have waited another day worth $240+ now XD
I dont see bitcoin returning to double digits anytime soon.
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jmumich
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April 09, 2013, 11:08:52 PM |
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Having the characteristics of a bubble and being a bubble are different things. One can never know it is a bubble until it pops.
The price is driven by demand. Whether that demand comes from speculation or desire to hold what is fast becoming a recognized alternative global currency one cannot tell. It is probably a combination of both. And that is not a bad thing.
Eventually the cost of goods and services denominated in BTC will stop falling so rapidly. That will be necessary for BTC to become a true alternate currency. But that does not necessarily mean that the bubble will pop, and the cost of goods and services denominated in BTC will rise just as rapidly as they fell.
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jasonjm (OP)
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April 10, 2013, 07:04:23 PM |
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well this stupid "grandpa" soy trader doesn't look so dumb now?
bitcoin is no different to any currency or commodity from a trading perspective. But don't listen to the veteran traders.
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martynw2000
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April 10, 2013, 07:15:35 PM |
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well this stupid "grandpa" soy trader doesn't look so dumb now?
bitcoin is no different to any currency or commodity from a trading perspective. But don't listen to the veteran traders.
Well you sold everything at 158 when you could have got 258 or more 48hrs later.  |
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jasonjm (OP)
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April 10, 2013, 07:21:52 PM |
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It is impossible to precisely time tops and bottoms.
It is possible to book profits.
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fredtrader
Newbie
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April 10, 2013, 07:25:15 PM |
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You will never get the top but its quite obvious when a bubble is forming. OP sold at 158, I sold most my bitcoins at 190, wish I could have gotten more but in light of things I'm relieved I sold.
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ex-trader
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April 10, 2013, 07:33:33 PM |
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I thought it was all getting a bit toppy, so sold out entirely yesterday about $220. I then watch with some regret as it climbed into the $260s today, but I really felt the rate of climb in the last 24/48hrs singled an unsustainable acceleration and today it seems I was right.
Obviously the trigger today was another DDOS rather than a re-evaluation of the bitcoin eco-system, but it proves how much the price is driven by short-term speculation.
I bought back in fully in the last hour and now have nearly double the number of coins I had 2 days ago. Where its going now in the short-term, no idea, but I'm to roll the dice going forward with twice the chips on the table....
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MarKusRomanus
Legendary
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Merit: 1000
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April 10, 2013, 07:36:28 PM |
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Hindsight is 20/20.. but you should have at least given it a day before you went on your rant. I doubt you will ever see your $27 buy order filled. This isn't the same as a commodity exactly..Bitcoin also gains some of its value as it becomes more and more 'monetized' As it becomes more and more accepted as a payment method. I want to see a happy place stable price myself so it can function as a currency. This time tomorrow we may see it above $200 again..who knows. If you trade commodities, you also know that such a huge downward swing also corrects upwards. I still think holding them for the long haul will pay off big if investment is your thing.
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