Bitcoin Forum
November 23, 2017, 04:12:35 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: 1 2 3 [All]
  Print  
Author Topic: Price seems stable now...  (Read 7392 times)
tonto
Hero Member
*****
Offline Offline

Activity: 606


View Profile
June 15, 2011, 07:30:18 PM
 #1

Price seems stable around $19.
 
Now someone lower it down to about 10 so I can buy a couple more pls. Smiley
Join ICO Now A blockchain platform for effective freelancing
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511410355
Hero Member
*
Offline Offline

Posts: 1511410355

View Profile Personal Message (Offline)

Ignore
1511410355
Reply with quote  #2

1511410355
Report to moderator
1511410355
Hero Member
*
Offline Offline

Posts: 1511410355

View Profile Personal Message (Offline)

Ignore
1511410355
Reply with quote  #2

1511410355
Report to moderator
1511410355
Hero Member
*
Offline Offline

Posts: 1511410355

View Profile Personal Message (Offline)

Ignore
1511410355
Reply with quote  #2

1511410355
Report to moderator
killer2021
Member
**
Offline Offline

Activity: 84


View Profile
June 16, 2011, 08:19:40 AM
 #2

Awesome, thats exactly what we need! Price is stable from $19-20

Anonymous Cash-By-Mail Exchange: https://www.bitcoin2cash.com
1H6mqgB6UcqKt2SrCmhjxUp9np1Xrbkdj7
Cluster2k
Legendary
*
Offline Offline

Activity: 1565


View Profile
June 16, 2011, 08:40:21 AM
 #3

Awesome, thats exactly what we need! Price is stable from $19-20

A stable price is welcome, but we must remember that difficulty went up 50% yesterday.  The price didn't budge.  There's no reason to believe the price will go higher when difficulty again goes up by 50% in a week's time.  Within the space of around 2 weeks a miner will be making less than half what they used to.

Do not send bitcoins to me: 16b8s7pBJ9rUmsExNW25qD5VUqVqRPZuXu
100% solar powered bitcoin generation
killer2021
Member
**
Offline Offline

Activity: 84


View Profile
June 16, 2011, 08:45:23 AM
 #4

Awesome, thats exactly what we need! Price is stable from $19-20

A stable price is welcome, but we must remember that difficulty went up 50% yesterday.  The price didn't budge.  There's no reason to believe the price will go higher when difficulty again goes up by 50% in a week's time.  Within the space of around 2 weeks a miner will be making less than half what they used to.

Yup. Its supply and demand. Some miners will go bankrupt while others will stay in business.

But in the bigger picture we NEED the price to be stable. I'd say no more than 3-5% change over the course of a YEAR. If the price is too volatile then it is difficult to run a business.

Anonymous Cash-By-Mail Exchange: https://www.bitcoin2cash.com
1H6mqgB6UcqKt2SrCmhjxUp9np1Xrbkdj7
Nefario
Hero Member
*****
Offline Offline

Activity: 602


GLBSE Support support@glbse.com


View Profile WWW
June 16, 2011, 09:08:02 AM
 #5

Price seems stable around $19.

Famous last words.

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
Electrongolf
Full Member
***
Offline Offline

Activity: 139

What's Your Gig?


View Profile WWW
June 16, 2011, 09:15:44 AM
 #6

I hope you are right. That would be great!

qed
Full Member
***
Offline Offline

Activity: 196


View Profile
June 16, 2011, 11:12:34 AM
 #7

The price can be stable olny if the difficulty is not changing, we are most likely going to see another +60% increse at the next step.

Mobile App (Android)

Monitor miners, exchange rates and Bitcoin network stats.
BombaUcigasa
Legendary
*
Offline Offline

Activity: 1442



View Profile
June 16, 2011, 02:14:33 PM
 #8


This is really really scary.
epi 1:10,000
Full Member
***
Offline Offline

Activity: 154


View Profile
June 16, 2011, 02:35:34 PM
 #9

I don't know if the market is attracting more miners but it does seem that those that have already started mining keep bring new capacity on line as they can afford it.  I don't know much about economics, but it would seem that if prices stay steady and market depth, trade volume, and liquidity double (and/or stably increase), then this will make it easyer for online merchants to accept bitcoin.  Mining will adjust accordingly.    Hopefully someone more knowledgeable than I can give a good analysis.  Let me know where I'm mistaken.
Adam
Full Member
***
Offline Offline

Activity: 238


View Profile
June 16, 2011, 02:59:20 PM
 #10

Mining should be more or less independent from the actual market long-term.  The amount of ghashes should go up or down in response to the current exchange rate and difficulty levels.  The only direct impact mining should have on price is when a ton of new equipment goes online in the middle of one difficulty cycle such that the 2016 blocks are used up way faster than 6 per hour, which temporarily increases supply and should suppress the price a little.  Once the difficulty adjusts to that though it goes back to normal.

BattleTitans.io  ▼  Mobile PvP Arena of the Future  ▼  BattleTitans.io
The Most Promising ICO in October    [Join Now!]

▼  [FB]  ▬  [TW]  ▬  [TG]  ▬▬▬  [YU]  ▼
TurboK
Full Member
***
Offline Offline

Activity: 137



View Profile
June 16, 2011, 04:34:35 PM
 #11

It's stable because no big sells nor big buys were made recently. Granted, the longer it stays stable, the bigger a buy/sell would need to be for prices to actually budge.

12zJNWtM2HknS2EPLkT9QPSuSq1576aKx7

Tradehill viral bullshit code: TH-R114411
Jaime Frontero
Full Member
***
Offline Offline

Activity: 126


View Profile
June 16, 2011, 04:37:52 PM
 #12


This is really really scary.

it is, a bit.

it's so obviously artificial.

the joys of an unregulated market: keeps you on your toes, doesn't it?
Grant
Full Member
***
Offline Offline

Activity: 210


View Profile
June 16, 2011, 04:43:23 PM
 #13


it's so obviously artificial.


Of course it is, we had artificial rally, artificial correction and now the stability is also artificial.

It's so artificial, like a dream, when you wake up tomorrow the price will be between NILL and OMG!
mrpetem
Full Member
***
Offline Offline

Activity: 140


View Profile WWW
June 16, 2011, 04:45:56 PM
 #14

Nothing artificial about it, this is how markets behave. Also this comment: 'It's stable because no big sells nor big buys were made recently. Granted, the longer it stays stable, the bigger a buy/sell would need to be for prices to actually budge.' is not the right way to look at it. Price is not moving so much because there is equal number of buys to sells. When one side gives in it will break to make a new range. Often when price breaks out of consolidation they are big moves however quickly bounce back into the range as it meets fresh supply/demand. The fact is the market is in agreement at the value of a bitcoin, untill the market tries to agree on the new value..

 Btw when you mention trap, which side do you mean for? Is it a bull trap or bear trap? Tbh if you say either one or the other you will have 50% chance of being correct.... Nobody can tell whether its going to move up or down, unless they are big investor looking to buy/sell thousands.

Clipse
Hero Member
*****
Offline Offline

Activity: 504


View Profile
June 16, 2011, 04:49:31 PM
 #15

Nothing artificial about it, this is how markets behave. Also this comment: 'It's stable because no big sells nor big buys were made recently. Granted, the longer it stays stable, the bigger a buy/sell would need to be for prices to actually budge.' is not the right way to look at it. Price is not moving so much because there is equal number of buys to sells. When one side gives in it will break to make a new range. Often when price breaks out of consolidation they are big moves however quickly bounce back into the range as it meets fresh supply/demand. The fact is the market is in agreement at the value of a bitcoin, untill the market tries to agree on the new value..

 Btw when you mention trap, which side do you mean for? Is it a bull trap or bear trap? Tbh if you say either one or the other you will have 50% chance of being correct.... Nobody can tell whether its going to move up or down, unless they are big investor looking to buy/sell thousands.

I dont completely agree nor disagree with you.

What I do know, looking at the live data from mtgox, majority of the traffic is bot-related counter bidding and keeping the price between 19-20 margins.

I dont why why its being done cause the margins is way to small to avoid the 1.3% fee from mtgox, so maybe someone else could figure this pickle out.

...In the land of the stale, the man with one share is king... >> Clipse

We pay miners at 130% PPS | Signup here : Bonus PPS Pool (Please read OP to understand the current process)
mrpetem
Full Member
***
Offline Offline

Activity: 140


View Profile WWW
June 16, 2011, 04:53:48 PM
 #16

Nothing artificial about it, this is how markets behave. Also this comment: 'It's stable because no big sells nor big buys were made recently. Granted, the longer it stays stable, the bigger a buy/sell would need to be for prices to actually budge.' is not the right way to look at it. Price is not moving so much because there is equal number of buys to sells. When one side gives in it will break to make a new range. Often when price breaks out of consolidation they are big moves however quickly bounce back into the range as it meets fresh supply/demand. The fact is the market is in agreement at the value of a bitcoin, untill the market tries to agree on the new value..

 Btw when you mention trap, which side do you mean for? Is it a bull trap or bear trap? Tbh if you say either one or the other you will have 50% chance of being correct.... Nobody can tell whether its going to move up or down, unless they are big investor looking to buy/sell thousands.

I dont completely agree nor disagree with you.

What I do know, looking at the live data from mtgox, majority of the traffic is bot-related counter bidding and keeping the price between 19-20 margins.

I dont why why its being done cause the margins is way to small to avoid the 1.3% fee from mtgox, so maybe someone else could figure this pickle out.

Sure, Im not looking to get into some kind of debate here of who is right or wrong, just adding my input. I think though you will find your comment still supports my original. Equal number of buys and sells, whoever it may be.

mrpetem
Full Member
***
Offline Offline

Activity: 140


View Profile WWW
June 16, 2011, 05:03:58 PM
 #17

here was something I mentioned at another thread, however it seems to have played out much earlier than anticipated:

The thread is: http://forum.bitcoin.org/index.php?topic=14657.msg209183#msg209183
Comment made on: June 12, 2011, 07:26:02 pm
Quote
Just thought I would add my view.
The only real value of bitcoin at the moment is speculation. Everything always boils down to supply and demand. Eventually bitcoin will stabalise as the market starts to agree on the value of a bitcoin. Because it is early days, we will see massive jumps in price due to increase of market participents plus people holding onto their bitcoins selling when price looks tasty. Anyone that says there is no danger of bitcoin crashing and just going into the history books as a failed currency, should be carefull. I would however tend to agree that bitcoin is most likely here to stay, at least for the medium term. There would not even need to be an adoption of it as a currency/payment for it to sustain itself, since it has become a tradable asset.

Dobrodav
Full Member
***
Offline Offline

Activity: 182


CarTaxi: The 1st car towing platform on blockchain


View Profile
June 16, 2011, 05:33:20 PM
 #18

looks like there is no interest in BTC for now. What we see, is a fight between some trade bots.

dserrano5
Legendary
*
Offline Offline

Activity: 1848



View Profile
June 16, 2011, 06:15:04 PM
 #19

it would seem that if prices stay steady and market depth, trade volume, and liquidity double (and/or stably increase)

Volume is not precisely "doubling"...


I dont why why its being done cause the margins is way to small to avoid the 1.3% fee from mtgox, so maybe someone else could figure this pickle out.

I don't think it's way too small for that, it's just at the limit, ie no money is being made right now.

I don't see this low activity period as something necessarily strange or bad. It's not the first time it happens (both beginning and end of May show similar patterns). Plus, the midterm trend is still intact:



Dobrodav
Full Member
***
Offline Offline

Activity: 182


CarTaxi: The 1st car towing platform on blockchain


View Profile
June 16, 2011, 06:36:23 PM
 #20

Oh, These logarithmic scale`s... They are so comfortable to show anything you want ...

dserrano5
Legendary
*
Offline Offline

Activity: 1848



View Profile
June 16, 2011, 06:45:43 PM
 #21

Care to show something useful with a 3-month linear one?

tsvekric
Sr. Member
****
Offline Offline

Activity: 256


View Profile
June 16, 2011, 06:47:23 PM
 #22

artificial prices, by definition, do not exist in a free market.
billyjoeallen
Legendary
*
Offline Offline

Activity: 966


Hide your women


View Profile WWW
June 16, 2011, 06:58:55 PM
 #23

Awesome, thats exactly what we need! Price is stable from $19-20

A stable price is welcome, but we must remember that difficulty went up 50% yesterday.  The price didn't budge.  There's no reason to believe the price will go higher when difficulty again goes up by 50% in a week's time.  Within the space of around 2 weeks a miner will be making less than half what they used to.

So? I'm looking forward to all the cheap second hand video cards that will be for sale. I am building a flight simulator :-)

Seriously, The average profitability of mining should be zero. Inefficient miners should be losing money, because they are wasting electricity. The "evil" speculators have stabilized the market for now, and that's a good thing. Sustainable long-term growth requires less volatility. Entrepreneurs need to be able to make reasonable and reasonably accurate assumptions about future demand.

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
d.james
Sr. Member
****
Offline Offline

Activity: 280

Firstbits: 12pqwk


View Profile
June 16, 2011, 08:34:13 PM
 #24

just broke the 19 barrier

You can not roll a BitCoin, but you can rollback some. Cheesy
Roll me back: 1NxMkvbYn8o7kKCWPsnWR4FDvH7L9TJqGG
Dobrodav
Full Member
***
Offline Offline

Activity: 182


CarTaxi: The 1st car towing platform on blockchain


View Profile
June 16, 2011, 08:37:01 PM
 #25

If 18 will broken, we can expect  way down to 15. Interesting.

Edward50
Hero Member
*****
Offline Offline

Activity: 602



View Profile
June 16, 2011, 09:46:22 PM
 #26

Yes it is finally coming down. It does not make sense at $20. There is no value currenctly in owning this currency other than the long term potential if it does ever make a valid currency.

If you are willing to wait some years and hold it as an investment, it should be priced less than $10 dollars because of the high risk of it failing.

Who ever pays $20 or higher now as a long term investment is way overpaying because of all the risk.

It should keep falling down to less than $10.


Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
dserrano5
Legendary
*
Offline Offline

Activity: 1848



View Profile
June 16, 2011, 09:54:07 PM
 #27

Funny. Two weeks ago everyone was talking about $100, $400, $1k...

Coinbuck @ BTCLot
Hero Member
*****
Offline Offline

Activity: 540

The future begins today


View Profile WWW
June 16, 2011, 09:56:25 PM
 #28

Yes it is finally coming down. It does not make sense at $20. There is no value currenctly in owning this currency other than the long term potential if it does ever make a valid currency.

If you are willing to wait some years and hold it as an investment, it should be priced less than $10 dollars because of the high risk of it failing.

Who ever pays $20 or higher now as a long term investment is way overpaying because of all the risk.

It should keep falling down to less than $10.



Less than $10 with the current difficulty lvl ?
 
Remember that miners are the biggest source of bitcoins in this moment. I'm sure they aren't willing to lose cash.

Bitcoin is the future !
gonzas144
Newbie
*
Offline Offline

Activity: 19


View Profile
June 16, 2011, 10:24:24 PM
 #29

Yes it is finally coming down. It does not make sense at $20. There is no value currenctly in owning this currency other than the long term potential if it does ever make a valid currency.

If you are willing to wait some years and hold it as an investment, it should be priced less than $10 dollars because of the high risk of it failing.

Who ever pays $20 or higher now as a long term investment is way overpaying because of all the risk.

It should keep falling down to less than $10.



Less than $10 with the current difficulty lvl ?
 
Remember that miners are the biggest source of bitcoins in this moment. I'm sure they aren't willing to lose cash.

Miners don't control Supply / Demand they are just affected by the consequences.
Freakin
Full Member
***
Offline Offline

Activity: 154


View Profile
June 16, 2011, 11:01:18 PM
 #30

Yes it is finally coming down. It does not make sense at $20. There is no value currenctly in owning this currency other than the long term potential if it does ever make a valid currency.

If you are willing to wait some years and hold it as an investment, it should be priced less than $10 dollars because of the high risk of it failing.

Who ever pays $20 or higher now as a long term investment is way overpaying because of all the risk.

It should keep falling down to less than $10.



Less than $10 with the current difficulty lvl ?
 
Remember that miners are the biggest source of bitcoins in this moment. I'm sure they aren't willing to lose cash.

it's not up to them...
andes
Jr. Member
*
Offline Offline

Activity: 42


View Profile
June 16, 2011, 11:06:05 PM
 #31

Funny. Two weeks ago everyone was talking about $100, $400, $1k...
I still stick with these numbers in a couple of months timeframe. I assume a geometric growth doubling its price each month until reaching roughly 1K at the end of the year. I base my guessing in a viral adoption, and in the enormous amounts of fiat currency floating arround the world and ready for investments, and the low yield of alternatives for landing that extra cash.
Matarael
Newbie
*
Offline Offline

Activity: 24


View Profile
June 16, 2011, 11:27:55 PM
 #32

I still stick with these numbers in a couple of months timeframe. I assume a geometric growth doubling its price each month until reaching roughly 1K at the end of the year. I base my guessing in a viral adoption, and in the enormous amounts of fiat currency floating arround the world and ready for investments, and the low yield of alternatives for landing that extra cash.

My thoughts on institutional investment in btc is that it will be significantly slower than the geometric price progression we've seen. Problems with liquidity, relative stability of prices, and security of investment from hacks and market DDOS may be keeping larger players away. Anyone investing in BTC from an institutional perspective would be more likely to be risk adverse. Any individuals with larger investments would also be less likely, logically, to put large amounts of money into btc. If the price rise slows over the next few months, stability of price occurs and security of investment are fixed we should see a greater influx of investors.

It's the risk in BTC that's keeping big money away.
onesalt
Hero Member
*****
Offline Offline

Activity: 504


GET IN - Smart Ticket Protocol - Live in market!


View Profile
June 17, 2011, 12:38:42 AM
 #33

Oh god! Now you've made this thread the price of btc is crashing faster than the world trade center did after the government blew it up in their false flag operation to invade iraq!! fuck!!


               ████
             ███  ███
           ████     ███
         ███  ███    ███
       ████     ███    ███
     ███  ███     ███    ███
   ████     ███     ███   ██
 ███  ███     █████████████████
███     ███     ███           ██
 ███      ███     ██          ██
   ███      ██████████      ███
     ███      ██████      ███
       ███      ██      ███
         ███          ███
           ███      ███
             ███  ███
               ████

GUTS
    ███
███
███
███
███
███
███
███
███
███
███
███
███
███
   
smart-ticket protocol for events
live product with market traction!
    ███
███
███
███
███
███
███
███
███
███
███
███
███
███
   
  BTC ANN
  WEBSITE
  BLOG
   
  SANDBOX
  WHITEPAPER
  BOUNTY
   
zdmas
Newbie
*
Offline Offline

Activity: 28


View Profile
June 17, 2011, 12:42:48 AM
 #34

Oh god! Now you've made this thread the price of btc is crashing faster than the world trade center did after the government blew it up in their false flag operation to invade iraq!! fuck!!

Firstly, you're crazy, secondly, it's hopped back up to 17.36. I made a nice buy at the low point and sold just now, nice instant cash.
andes
Jr. Member
*
Offline Offline

Activity: 42


View Profile
June 17, 2011, 12:44:43 AM
 #35

I still stick with these numbers in a couple of months timeframe. I assume a geometric growth doubling its price each month until reaching roughly 1K at the end of the year. I base my guessing in a viral adoption, and in the enormous amounts of fiat currency floating arround the world and ready for investments, and the low yield of alternatives for landing that extra cash.

My thoughts on institutional investment in btc is that it will be significantly slower than the geometric price progression we've seen. Problems with liquidity, relative stability of prices, and security of investment from hacks and market DDOS may be keeping larger players away. Anyone investing in BTC from an institutional perspective would be more likely to be risk adverse. Any individuals with larger investments would also be less likely, logically, to put large amounts of money into btc. If the price rise slows over the next few months, stability of price occurs and security of investment are fixed we should see a greater influx of investors.

It's the risk in BTC that's keeping big money away.

I agree with you, but I made a rough calculation that with 1 BN dollars coming to Bitcoin (this is really nothing in a global scale) we could very well see $500 price. Be cautious not to confuse market capitalization with total amount of money put into Bitcoins, as not all bitcoins are sold into the market at any given market price, but only a small fraction. Many bitcoins remain out of the market so far, or have been out of the market for weeks, stored in miners and early adopters saving wallets.

Just to give you an example, I am not going to sell my bitcoins before $1000-1500 unless I discover some fatal flaw in Bitcoin. I am here for the lon run, partly to support Bitcoin, and partly beacuse I believe we are at the very start of a big growth ahead. If it goes down I will accept that, even if I loose all my money.
hello_good_sir
Hero Member
*****
Offline Offline

Activity: 686


JOLYY - The future of beauty!


View Profile
June 17, 2011, 01:33:07 AM
 #36

As I discussed in another post there are four potential groups of bitcoin users.  The geometric growth that we saw was the result of adoption by the second demographic: libertarian engineers.  We have achieved significant penetration in that market.  Next we have to get young hip people with fancy smart phones who eat at ethnic restaurants and buy things online.  Once we breach the demographic we'll see geometric growth again, and the price will soar into the hundreds, maybe thousands.  After that market is penetrated we'll see linear growth, as old people (who don't use bitcoin) die and are replaced by children who do.

However until we can hook that demographic we are going to see the price drop gradually.  People who need their money now will sell to people already in the market.  We aren't getting any new bitcoin users until bitcoin is a lot more polished and user friendly.  This requires new clients, smart phone support, and a decimal point shift.  This might take a long, long time.  However I believe that it will be done.  Right now many people are significantly invested in bitcoin.  There are people who stand to be millionaires if bitcoin succeeds.  I can see these people putting time and money towards making bitcoin succeed.  Those of us who are smaller players can play smaller parts.  We just need to penetrate into the next market and we'll all have money, until then we have a bunch of poker chips.

            ███           ▄▄▄████████▄▄▄           ███       ▀███          ▀██▄ ▄██▀          ███▀
            ███         ▄████▀▀    ▀▀████▄         ███         ███          ▀█████           ███
            ███       ▄███▀            ▀███▄       ███          ▀██▄         ▄███▄         ▄██▀
            ███      ███▀                ▀███      ███            ███       ███▀███       ███
            ███     ███▀                  ▀███     ███             ▀██▄   ▄██▀   ▀██▄   ▄██▀
            ███     ███                    ███     ███               ███▄██▀       ▀██▄██▀
            ███     ███                    ███     ███                ▀███▀         ▀███▀
            ███     ███                    ███     ███                 ███           ███
            ███     ███▄                  ▄███     ███                 ███           ███
            ███      ███▄                ▄███      ███                 ███           ███
           ███▀       ▀███▄            ▄███▀       ▀███                ███           ███
██▄▄▄  ▄▄▄███▀          ▀████▄▄    ▄▄████▀          ▀███▄▄▄  ▄▄▄██     ███           ███
▀▀████████▀▀              ▀▀▀████████▀▀▀              ▀▀████████▀▀     ███           ███
........T H E   F U T U R E.................
......................o f   B E A U T Y
........


 ▀█▄             ▄▄▄▄▄▄
   ▀█▄      ▄▄███▀▀▀▀
    ▄██     ▀▀▀     ▄▄▄▄
 ▄▄▄ ██         ▄     ▀▀██▄
▀█▀█▀█▀▄       █▄     ▄██▀
               ▀████████
               ▀ ▀ ▀ ▀ ▀


      ▄▄
     ▀█▀▀▀

    █▄
     ███████▀▀▀
    █▄
      ▀▀▀▀▀
imperi
Full Member
***
Offline Offline

Activity: 196


View Profile
June 17, 2011, 02:09:28 AM
 #37

Next we have to get young hip people with fancy smart phones who eat at ethnic restaurants and buy things online.  Once we breach the demographic we'll see geometric growth again, and the price will soar into the hundreds, maybe thousands. 

I'd say I'm more of this type, although I'm an engineer. I don't think it's necessarily a bad thing for the Feds, and governments of most countries, to regulate money. However, I do see the explosive growth potential for Bitcoins.
Babylon
Hero Member
*****
Offline Offline

Activity: 518


Air token at it best.


View Profile
June 17, 2011, 04:38:56 AM
 #38

Yes it is finally coming down. It does not make sense at $20. There is no value currenctly in owning this currency other than the long term potential if it does ever make a valid currency.

If you are willing to wait some years and hold it as an investment, it should be priced less than $10 dollars because of the high risk of it failing.

Who ever pays $20 or higher now as a long term investment is way overpaying because of all the risk.

It should keep falling down to less than $10.



Silk Road gives it value.

            █
           ███
          ████   ▄
         ███ ███▄█▀█
        ███   ██   █
   █▀▀▀▀▀▀▀▀▀▀▀█   █▀
  █           █   █▀
 ▀▀█████▀▀▀███   █
██
    ███ █   █   █ ██
   ███   █   █ █   ███
  ████████   █████████
 ▀
▀▀▀▀▀▀▀▀▀█   ██▀▀▀▀▀▀
            █▄▄▄█
  ▄█
▄███

████    ▄
████  ▄██

████ ████
████ ████

████ ████
████ ████

████ ████
██▀  ████

    ████
     ███▀
     █▀
|A  G A M I N G  R E V O L U T I O N  I S  O N  T H E  W A Y|
|      FACEBOOK      |      SLACK      ▀▀▀▀      WHITEPAPER      ▀▀▀▀      TWITTER      |      TELEGRAM      |
  ▄█
▄███

████    ▄
████  ▄██

████ ████
████ ████

████ ████
████ ████

████ ████
██▀  ████

    ████
     ███▀
     █▀
RomertL
Sr. Member
****
Offline Offline

Activity: 297



View Profile
June 17, 2011, 04:58:30 AM
 #39

Funny. Two weeks ago everyone was talking about $100, $400, $1k...
I still stick with these numbers in a couple of months timeframe. I assume a geometric growth doubling its price each month until reaching roughly 1K at the end of the year. I base my guessing in a viral adoption, and in the enormous amounts of fiat currency floating arround the world and ready for investments, and the low yield of alternatives for landing that extra cash.

Impossible to say at this point were it will go. Long-term depends on its real value as currency, that is, what you can actually buy with it. And that value is probably a lot lower than the current market value at the moment. If it ever gets anything close to mainstream, most guys on this forum would probably get rich. If it continues as a "geek-currency" you can use to pay for web-hosting and mining-rigs and such, the market-price will probably go down quite a bit. Only thing I feel pretty sure about is that it will never die completely.

PECULIUM                          [  PRIVATE SALE STARTED ]
First Saving System in CryptoCurrency Driven by Artificial Intelligence         /WHITEPAPER/ANN/BOUNTY/SLACK/

                                   ▓░          ░  ░░░    ░▒▓▓▓▓▓▓▒▒
                                  █▒░░░░░░░░░░░░░▒▒▒ ▒▓██▓▓▓▒▒▒▒▒▒▓
             ░░░░░▒▒░░  ░░░░░░░░░▒█░▒▒▒▒▒▒▒▒▒▒▒▒▓▓▒▒███▓▓████████▓▓
        ░▒▒▓▓▓▓▓▓▓▓▓▓▓▓▒ ░░░     ▒▓▒▒▒▒▒▒▒▒▒▒▒▒▓▒▒▓██▒▓██████▓█████
     ░▒▒▒▒░░░░░ ░░░░░░▒▓▒ ░░░    ░▓▓▓▓▓▒▓▒▒▒▒▒▒▒▓██▓ ████████▒▓██▓▓
          ░░░░▒░▒▒░▒▒▒▒░▒░ ░      ▓▒▓▓▓▓▓▓▒▒▒▓▒▓▓▓▒░████▓███▒████▓▓
      ░░░░░░░▒▒░░░▒▒▒▒▒▒░░       ▒▓░▓▓▓▓▓▓▓▓▓▓▓▓▓▒ █████████████   
       ░░░▒▒▒░░░░▒░▒▒▒▒▒▒▒   ░░░░▒▒▒▒▓▓▓▓▓▓▓▓▓▓▒▒▒███▓█████▓░     
      ░░░    ░░░▒▒▒▒▒░▒▒▓▓  ░░░ ▒▒▒▒▒▒▓▓▓▓▓▓▓▒ ░▓██▓▒░          ░ ░
     ░░  ▒▓█████████▓▓▓▒▓░  ░░ ░▒▒▒▒▒▒▒▒▒▓▓▓▓▒▒▓▒░   ░░░ ░░░░     
     ░ ▓██▒▓▓▓███▒▒▒▒▓▓▓▓    ░ ░▒░▒▒░▒▒▒▒▒▒▒▒▓▓▒▒░░░░             
     ░▓█░▒██████████▓▒▒█      ░░░░░░░░░▒▒▒▒▒▒▒▒▒▒▒▒▒░░             
    ░▓▓ ███████▓▒██▓███▒      ░░░░░░░░░░░░▒░▒░▒░▒▒░░░░░░░         
    ▒▒ ▓██▓▓██▒▓███▓███      ░░░░░░░░░░░░░░░░░░░░░░░░░             
    ▒░▒█░███▓████▓           ░ ░░░░░░░░░░░░░░░░░░                 
    ░ ██ ████▓▓     ▒       ░░  ░░░░░░░░░░░░░░                     
                   ▒░      ░░ ░   ░░░░░░░░░░                       
            ░░░░░░▒▒       ░░   ░ ░  ░░░░░░░                       
          ░░░  ░░ ░         ░          ░░░░░░                     
                           ░      ░░░░░░░▒▒░                       
                                     ░░░  ░▒                       
                            ░░▒░░░      ░  ░▒                     
                    ░    ░░░░░░ ░░░▒▒░    ░░▒░                     
                    ▒▒░░░░░░   ░░    ░▒▒░░░░▒▒                     
                      ▒▒░░▒░▓███████▓ ░▒▒▒▒▒▓▒                     
                    ▓░ ░▒░░▓██████████░░▒▒▒▓▓                     
                   ▓███░░▒▒▒▓▓▓▓███▓▓▓▓▒▒▓▓▓                       
                    ████▓▒▓▒▒▒▓▓▓▓▓▓▓▓▓▓▓▒░                       
                     ▓██▓▒▓▓▓▒▓▓▓▓▓▒▒░░░                           
                      ▓▒▒▒▓▓▓▓▓▒░░░                               
                        ░░▓▓▓▓▓▒                                   
                         ░▒▒▒▒▒▒                                   
                          ░▒▒░▒░                                   
                          ░░   ░                                   
                          ░    ░                                  ░
                             ░░                       ░           ░
                                                      ░░        ░ ░
                         ░░░░░░░░░░░░░░░░░     ░░░░░░░░░░░ ░░ ░ ░ ░
                       ░▒░░░░░░░░▒▒▓▓▓▓▓▓▓▓▓▓▓▒▒▒▒░░░░    ░░░░░░░ ░
                      ░▒░▒▒▒▓▓▓███████▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▒░░░░░░░░
                     ░▒▒▓▓████▓▓▒              ░▒▒▓▓▓▓████▓▒░░░░▒░▒
                    ░▒▓██▒░                ░░░░░░░░░░▒▒▒░   ░░░░░░▒
                   ░▒▓█       ░░░░░░░░░░▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒░░░░░▒░▒
                  ▒▒▓█   ░▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▓▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒
                 ░░▓█    ░░░░░░░░▒▒▒▒▒▒▒▒▒▒▒▒▒▒░░░ ░░░░░        ░ ▒
Cluster2k
Legendary
*
Offline Offline

Activity: 1565


View Profile
June 17, 2011, 05:43:28 AM
 #40

$16 and falling on MtGox as I write this.  The 'island of stability' around $19 to $20 didn't last too long.  Those 25k stolen BTCs being unloaded today after being laundered over the last couple of days?  Dead Cat Bounce has had its run? ($30 -> $10 -> $20 -> sub $10 if that's the case).  Interesting times.

Do not send bitcoins to me: 16b8s7pBJ9rUmsExNW25qD5VUqVqRPZuXu
100% solar powered bitcoin generation
KnuttyD
Member
**
Offline Offline

Activity: 110



View Profile
June 17, 2011, 05:50:39 AM
 #41

$16 and falling on MtGox as I write this.  The 'island of stability' around $19 to $20 didn't last too long.  Those 25k stolen BTCs being unloaded today after being laundered over the last couple of days?  Dead Cat Bounce has had its run? ($30 -> $10 -> $20 -> sub $10 if that's the case).  Interesting times.
Like any economy, it will have its ups and downs; we seem to be experiencing a nice little downtrend. I wouldn't worry too much about it.

If I helped you in some way, and you feel obligated to do so, you can tip me some coin!
1KVadqbELY3KuJhkm9rDtcwxZknhRsfPHY
Edward50
Hero Member
*****
Offline Offline

Activity: 602



View Profile
June 17, 2011, 05:51:43 AM
 #42

Yes It is very interesting times, I can't help  but keep checking the price of the bitcoin. I must admit, part of me wants it to go lower because I missed the boat on this one.

With the current drop into the $15 range, and nobody seems to want to pick it back up to $20. I think most people will not even take the risk at buying it at these lower prices with the hope it will bounce back up to its $20 dollar support.

Someone must have kept it inflated at the $20 dollar level. I have no idea why someone has done that and spent all the money keeping it at that level. I knew that would not hold as nobody has that deep pockets.

A fair and stable price level would be around $8.00.

I am surprised the forum is pretty silent about this latest price drop. This signals many things coming to and end especially the mining. This whole thing may lose much interest soon.


Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
Babylon
Hero Member
*****
Offline Offline

Activity: 518


Air token at it best.


View Profile
June 17, 2011, 05:53:35 AM
 #43

Yes It is very interesting times, I can't help  but keep checking the price of the bitcoin. I must admit, part of me wants it to go lower because I missed the boat on this one.

With the current drop into the $15 range, and nobody seems to want to pick it back up to $20. I think most people will not even take the risk at buying it at these lower prices with the hope it will bounce back up to its $20 dollar support.

Someone must have kept it inflated at the $20 dollar level. I have no idea why someone has done that and spent all the money keeping it at that level. I knew that would not hold as nobody has that deep pockets.

A fair and stable price level would be around $8.00.

I am surprised the forum is pretty silent about this latest price drop. This signals many things coming to and end especially the mining. This whole thing may lose much interest soon.



It ran up from $1 to $30 really quickly.  a price drop back down to $15 or even $8 is not going to cause a loss of interest.


            █
           ███
          ████   ▄
         ███ ███▄█▀█
        ███   ██   █
   █▀▀▀▀▀▀▀▀▀▀▀█   █▀
  █           █   █▀
 ▀▀█████▀▀▀███   █
██
    ███ █   █   █ ██
   ███   █   █ █   ███
  ████████   █████████
 ▀
▀▀▀▀▀▀▀▀▀█   ██▀▀▀▀▀▀
            █▄▄▄█
  ▄█
▄███

████    ▄
████  ▄██

████ ████
████ ████

████ ████
████ ████

████ ████
██▀  ████

    ████
     ███▀
     █▀
|A  G A M I N G  R E V O L U T I O N  I S  O N  T H E  W A Y|
|      FACEBOOK      |      SLACK      ▀▀▀▀      WHITEPAPER      ▀▀▀▀      TWITTER      |      TELEGRAM      |
  ▄█
▄███

████    ▄
████  ▄██

████ ████
████ ████

████ ████
████ ████

████ ████
██▀  ████

    ████
     ███▀
     █▀
Edward50
Hero Member
*****
Offline Offline

Activity: 602



View Profile
June 17, 2011, 06:00:00 AM
 #44

It ran up from $1 to $30 really quickly.  a price drop back down to $15 or even $8 is not going to cause a loss of interest.


The reason why it will cause loss of interest is that mining is not profitable anymore. I think this is a big part of the whole bitcoin craze. It will still have some interest, but it will lose alot.

Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
Babylon
Hero Member
*****
Offline Offline

Activity: 518


Air token at it best.


View Profile
June 17, 2011, 06:00:46 AM
 #45

It ran up from $1 to $30 really quickly.  a price drop back down to $15 or even $8 is not going to cause a loss of interest.


The reason why it will cause loss of interest is that mining is not profitable anymore. I think this is a big part of the whole bitcoin craze. It will still have some interest, but it will lose alot.


That's self correcting.  If a lot of miners get out difficulty drops, which makes mining more profitable.

            █
           ███
          ████   ▄
         ███ ███▄█▀█
        ███   ██   █
   █▀▀▀▀▀▀▀▀▀▀▀█   █▀
  █           █   █▀
 ▀▀█████▀▀▀███   █
██
    ███ █   █   █ ██
   ███   █   █ █   ███
  ████████   █████████
 ▀
▀▀▀▀▀▀▀▀▀█   ██▀▀▀▀▀▀
            █▄▄▄█
  ▄█
▄███

████    ▄
████  ▄██

████ ████
████ ████

████ ████
████ ████

████ ████
██▀  ████

    ████
     ███▀
     █▀
|A  G A M I N G  R E V O L U T I O N  I S  O N  T H E  W A Y|
|      FACEBOOK      |      SLACK      ▀▀▀▀      WHITEPAPER      ▀▀▀▀      TWITTER      |      TELEGRAM      |
  ▄█
▄███

████    ▄
████  ▄██

████ ████
████ ████

████ ████
████ ████

████ ████
██▀  ████

    ████
     ███▀
     █▀
imperi
Full Member
***
Offline Offline

Activity: 196


View Profile
June 17, 2011, 06:02:02 AM
 #46

It ran up from $1 to $30 really quickly.  a price drop back down to $15 or even $8 is not going to cause a loss of interest.


The reason why it will cause loss of interest is that mining is not profitable anymore. I think this is a big part of the whole bitcoin craze. It will still have some interest, but it will lose alot.



Bitcoins are mined at the same rate regardless of difficulty.
Capitan
Member
**
Offline Offline

Activity: 112


View Profile
June 17, 2011, 07:34:05 AM
 #47

It ran up from $1 to $30 really quickly.  a price drop back down to $15 or even $8 is not going to cause a loss of interest.


The reason why it will cause loss of interest is that mining is not profitable anymore. I think this is a big part of the whole bitcoin craze. It will still have some interest, but it will lose alot.



Bitcoins are mined at the same rate regardless of difficulty.

This seems wrong. If that were true then what would be the point of having "difficulty" at all? I thought difficulty affected how long it took to solve a block?
vuce
Sr. Member
****
Offline Offline

Activity: 476


View Profile
June 17, 2011, 07:36:19 AM
 #48

It ran up from $1 to $30 really quickly.  a price drop back down to $15 or even $8 is not going to cause a loss of interest.


The reason why it will cause loss of interest is that mining is not profitable anymore. I think this is a big part of the whole bitcoin craze. It will still have some interest, but it will lose alot.



Bitcoins are mined at the same rate regardless of difficulty.

This seems wrong. If that were true then what would be the point of having "difficulty" at all? I thought difficulty affected how long it took to solve a block?
exactly, but to keep the rate constant with increasing hashing power.
Gregers
Newbie
*
Offline Offline

Activity: 24


View Profile
June 17, 2011, 08:08:52 AM
 #49

I think the important thing is that the individual difficulty will increase as long as the number of new coins is a constant. The more people who mine, the more people the coins will have to be divided between. It's like winning the lottery, except more and more people will pick the winning numbers. In the end, no one is going to bother entering since the ticket price will be that much higher compared to the prize you get *if* you happen to win that day.
molecular
Donator
Legendary
*
Offline Offline

Activity: 2408



View Profile
June 17, 2011, 09:08:36 AM
 #50

It ran up from $1 to $30 really quickly.  a price drop back down to $15 or even $8 is not going to cause a loss of interest.


The reason why it will cause loss of interest is that mining is not profitable anymore. I think this is a big part of the whole bitcoin craze. It will still have some interest, but it will lose alot.



Bitcoins are mined at the same rate regardless of difficulty.

This seems wrong. If that were true then what would be the point of having "difficulty" at all? I thought difficulty affected how long it took to solve a block?

It affects how long it will take given a certain hashpower (of -say- a single miner). It keeps how long it will take for the combined hashpower of all miners at a constant level (50 BTC in 10 minutes)

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
neptop
Sr. Member
****
Offline Offline

Activity: 307


View Profile
June 17, 2011, 09:57:12 AM
 #51

Yay, cheap coins again! Smiley

Seriously, just think about where it has been a while ago.

I think one of the reasons for this "correction" (a correction for now, I don't think it will be that low in a few days/weeks/months) is that it became important to people using it as a currency (or commodity or whatever you call it) to have a stable value. No offense, but I guess it's harder to grasp for some Americans because the USD still is some kind of reference currency (currently! even though it MIGHT be just a matter of time until this changes), but there are markets for currencies. No, I don't mean places to trade them, but reasons for trading them (foreign currency loans to name an example). On a market new goods (currencies/commodities in this case) have be valued. That's why some people call it a crash or a price explosion, while other call it a correction.

All markets are a lot about fear, but we have seen that. When someone talks about a crash or a crisis in real life it's exactly the same. It might be reasonable to sell shares of a small company, which maybe won't survive as long as the share still have some value, but it's completely stupid for people to sell for example Google shares when the price is lower then it should be given the fact that they will survive and start growing again. It actually is the best time to buy. Hmm, but you just have to look at some kind of stock market chart and scale it to something like five years.

BitCoin address: 1E25UJEbifEejpYh117APmjYSXdLiJUCAZ
Jack of Diamonds
Sr. Member
****
Offline Offline

Activity: 252



View Profile
June 17, 2011, 01:08:06 PM
 #52

I can comfortably pump out 2 mil ghash from my flat without worrying about any kind of air ventilation or power supply, any bigger and this becomes an issue increasing the costs and reducing the profit.

You can pump out more than the entire hashing power of bitcoin in your flat without any ventilation or power supply?

Ok.

1f3gHNoBodYw1LLs3ndY0UanYB1tC0lnsBec4USeYoU9AREaCH34PBeGgAR67fx
Capitan
Member
**
Offline Offline

Activity: 112


View Profile
June 17, 2011, 01:21:04 PM
 #53

It ran up from $1 to $30 really quickly.  a price drop back down to $15 or even $8 is not going to cause a loss of interest.


The reason why it will cause loss of interest is that mining is not profitable anymore. I think this is a big part of the whole bitcoin craze. It will still have some interest, but it will lose alot.



Bitcoins are mined at the same rate regardless of difficulty.

This seems wrong. If that were true then what would be the point of having "difficulty" at all? I thought difficulty affected how long it took to solve a block?

It affects how long it will take given a certain hashpower (of -say- a single miner). It keeps how long it will take for the combined hashpower of all miners at a constant level (50 BTC in 10 minutes)


OK that makes sense. that previous statement was misleading because he said they are "mined at the same rate". That poster should have said "the hashing rate stays the same".
Pages: 1 2 3 [All]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!