keatonatron (OP)
Sr. Member
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Activity: 308
Merit: 250
Jack of oh so many trades.
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April 12, 2013, 09:58:58 AM |
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So we had some drama, everything was left to chaos, and now all exchanges appear to have settled around $90 across the board, with no big movements for the past couple of hours. Can we safely say the consensus on the current value of 1 BTC is roughly $90 USD?
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1KEATSvAhbB7yj2baLB5xkyJSnkfqPGAqk
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Sage
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April 12, 2013, 10:01:34 AM |
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Generally anytime you have panic selling the underlying commodity, no matter what it is, is undervalued at the end of that panic cycle.
Now is the time to buy.
....Greedy when others are fearful...
...buy when there's blood in the streets.
...the principle of maximum pessimism.
All qoutes from very wealthy investors.
Now is the time to buy.
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antibanker
Newbie
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Activity: 14
Merit: 0
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April 12, 2013, 10:03:31 AM |
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too many bitcoiners are sheeple as we now know.
that's the problem.
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tutkarz
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April 12, 2013, 10:10:43 AM |
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if you allow free market to set the bitcoin value, then basically you are allowing it to do for people who have most money. We already know that most money have our natural enemy: banks and governments. If you are counting on fair price from their side, then good luck.
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antibanker
Newbie
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Activity: 14
Merit: 0
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April 12, 2013, 10:14:28 AM |
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once the onlaught is over and the dust settles, a quite sober view will become visible.
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tutkarz
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April 12, 2013, 10:21:10 AM |
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my only advice is to wait for it to drop as low as possible, buy as many for low as we can and then set OUR minimal price we will be selling by for example displaying it in every bitcoin client and switch to using satoshi instead of bitcoins (for the same price which will actually increase bitcoin price by alot) so people outside will be confused and will think that nothing changed. If our community will not do this, then i dont see future in this anymore because this closed circle will repeat itself over and over again forever.
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antibanker
Newbie
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Activity: 14
Merit: 0
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April 12, 2013, 10:24:04 AM |
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sell ure stuff while you can
its all going down
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picobit
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April 12, 2013, 10:25:51 AM |
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Generally anytime you have panic selling the underlying commodity, no matter what it is, is undervalued at the end of that panic cycle.
Now is the time to buy.
....Greedy when others are fearful...
...buy when there's blood in the streets.
...the principle of maximum pessimism.
All qoutes from very wealthy investors.
Now is the time to buy.
In the 2011 bubble, the prices was sliding down for half a year after the crash, so don't be too sure about this. Predicting is difficult. In particular predicting the future.  |
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Sage
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April 12, 2013, 10:31:54 AM |
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Generally anytime you have panic selling the underlying commodity, no matter what it is, is undervalued at the end of that panic cycle.
Now is the time to buy.
....Greedy when others are fearful...
...buy when there's blood in the streets.
...the principle of maximum pessimism.
All qoutes from very wealthy investors.
Now is the time to buy.
In the 2011 bubble, the prices was sliding down for half a year after the crash, so don't be too sure about this. Predicting is difficult. In particular predicting the future. You have to ask yourself what the fundimtal value is? And what time frame are you playing in. If its undervalued and you're willing to wait out the dip then the only answer is to buy. We have an unprecedented level of new users and new money entering the system. That is a fundimental that is pretty hard to ignore. We have just breached initial public interest. The problem creating this dip is temporary. And will get solved. |
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Marrs
Member
Offline
Activity: 112
Merit: 10
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April 12, 2013, 10:50:32 AM |
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So we had some drama, everything was left to chaos, and now all exchanges appear to have settled around $90 across the board, with no big movements for the past couple of hours. Can we safely say the consensus on the current value of 1 BTC is roughly $90 USD?
We can't safely say anything. I personally expect a bounce up in the price as more North American traders wake up. Or maybe anther knock down... Heh. The only certainty is volatility. |
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tutkarz
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April 12, 2013, 11:01:05 AM |
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So we had some drama, everything was left to chaos, and now all exchanges appear to have settled around $90 across the board, with no big movements for the past couple of hours. Can we safely say the consensus on the current value of 1 BTC is roughly $90 USD?
We can't safely say anything. I personally expect a bounce up in the price as more North American traders wake up. Or maybe anther knock down... Heh. The only certainty is volatility. heh because we wont set up our price because we wont.... better wait for what? nobody knows the value of bitcoin and everybody knows its revolutionary tool, kind of funny. Except its not. |
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IIOII
Legendary
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Activity: 1153
Merit: 1012
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April 12, 2013, 11:11:44 AM |
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Value isn't measured in USD or EUR.
It's measured in BTC.
-> 1 USD is merely a tiny fraction of a Bitcoin
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wiggi
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April 12, 2013, 11:12:50 AM |
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It got ahead of fundamental value (adaption and hash rate), now it's back to "normal" "long term"
uptrend. This would still mean doubling every month, really slow and boring...
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FreddyFender
Full Member
Offline
Activity: 215
Merit: 100
Shamantastic!
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April 12, 2013, 11:20:45 AM |
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Generally anytime you have panic selling the underlying commodity, no matter what it is, is undervalued at the end of that panic cycle.
Now is the time to buy.
....Greedy when others are fearful...
...buy when there's blood in the streets.
...the principle of maximum pessimism.
All qoutes from very wealthy investors.
Now is the time to buy.
In the 2011 bubble, the prices was sliding down for half a year after the crash, so don't be too sure about this. Predicting is difficult. In particular predicting the future. You have to ask yourself what the fundimtal value is? And what time frame are you playing in. If its undervalued and you're willing to wait out the dip then the only answer is to buy. We have an unprecedented level of new users and new money entering the system. That is a fundimental that is pretty hard to ignore. We have just breached initial public interest. The problem creating this dip is temporary. And will get solved. I would like to point out the new money that was enticed into the rapid growth cycle we experienced, was left to its own device. The cooperative helpful elements within the Bitcoin community tried to guide/educate/follow best practice with everyone it encountered. Kudos, and well done. The cooperative will always overcome the wolf as the mass of the herd can counter the cunning of a single wolf. The wolf acting in concert with a pack can pick off stragglers or steer the pack into dangerous arenas of unintended new climes of economics/media/FUD. The next obvious step is to act in cooperatively against these individual elements and threats. Decentralization does not mean uncooperative. |
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BadBear
v2.0
Legendary
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Activity: 1652
Merit: 1127
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April 12, 2013, 01:05:00 PM |
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To me, bitcoin is worth far more than any price it's been at to date, none of this short term stuff bothers me.
I did take advantage of the spike to order some items from various places though.
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