Wuji
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Activity: 56
Merit: 0
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April 16, 2013, 01:57:31 PM |
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Looks like $50 will be the bottom.
WOW, do we have a bullish proudhon here?! Bullish in a bear market and bearish in a bull market  Say what you will but this is smart investing. The herd always seems to be wrong and thus there are bubbles. Buy low and sell high, you can't do that if you are a sheep. |
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Faraday
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April 16, 2013, 01:58:43 PM |
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Looks like $50 will be the bottom.
Wow. Now i'm really worried. Time to sell? |
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Wuji
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Activity: 56
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April 16, 2013, 01:59:47 PM |
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How many Bitcoins are created per day? Is the number still 3600? If so the Bitcoin market still needs $200k+ of new money everyday just to keep Bitcoin stable at current price point.
Shhh don't start injecting reality to people they still think it is possible to go to $10,000. At $266 there needed to be $900,000 per day (someone else's calculation). This would explain why it topped out there. |
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Manticore
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Activity: 70
Merit: 10
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April 16, 2013, 02:00:12 PM |
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Looks like $50 will be the bottom.
I see a bounce but no bottom. |
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Meman
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Activity: 92
Merit: 10
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April 16, 2013, 02:00:53 PM |
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600watt
Legendary
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Activity: 2338
Merit: 2106
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April 16, 2013, 02:02:27 PM |
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Looks like $50 will be the bottom.
Wow. Now i'm really worried. Time to sell? the fundamentals (proudhon) have changed. does this mean it´s over ? |
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IIOII
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Activity: 1153
Merit: 1012
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April 16, 2013, 02:03:53 PM |
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I think we'll see $ 30 / BTC at least.
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gizmoh
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Activity: 1428
Merit: 1000
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April 16, 2013, 02:06:19 PM |
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Further dip incoming, with some big players dumping 3-5k four-five times a day.Will cause more panic once $50 is breached.
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How Ripple Rips you: "The founders of Ripple Labs created 100 billion XRP at Ripple's inception. No more can be created according to the rules of the Ripple protocol. Of the 100 billion created, 20 billion XRP were retained by the creators, seeders, venture capital companies and other founders. The remaining 80 billion were given to Ripple Labs. Ripple Labs intends to distribute and sell 55 of that 80 billion XRP to users and strategic partners. Ripple Labs also had a giveaway of under 200 million XRP (0.002% of all XRP) via World Community Grid that was later discontinued.[29] Ripple Labs will retain the remaining 25 billion"
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600watt
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Activity: 2338
Merit: 2106
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April 16, 2013, 02:07:09 PM |
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How many Bitcoins are created per day? Is the number still 3600? If so the Bitcoin market still needs $200k+ of new money everyday just to keep Bitcoin stable at current price point.
Shhh don't start injecting reality to people they still think it is possible to go to $10,000. At $266 there needed to be $900,000 per day (someone else's calculation). This would explain why it topped out there. no way. don´t forget all the cash that the smart guys who sold all the way down to present have piled up. the money that others lost is not gone - it just changed hands. those guys profited a lot. they will want to profit again. but they can only do so if they buy btc. they are all waiting.... |
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just1nmc
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April 16, 2013, 02:08:57 PM |
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I think we'll see $ 30 / BTC at least.
So many people are looking for $30 bitcoins that I don't think it will make it. It seems like every person I've seen on reddit is using that number, and plenty of people on here. Also, people have to be willing to sell the BTC141k (much higher when accounting for people buying in as it drops) to get it there. |
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piramida
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Activity: 1176
Merit: 1010
Borsche
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April 16, 2013, 02:11:45 PM |
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At $266 there needed to be $900,000 per day (someone else's calculation). This would explain why it topped out there.
Really? So 700k per day was fine but 900k was too much? Or what's your explanation?  Nobody knows how much new money was being invested in bitcoins daily, hence the only way to know how high it could have gone was to push the price to the top and see where it breaks. Just what it did. Now, for a twist of that same data, if you realistically think there were at least 800k invested in bitcoin daily, that would mean at current price levels that 16,000 new coins should be sold daily, minus 3600 mined coins, means 12k new coins out of nowhere daily! So this low price of 50 is unsustainable! Or I just used an arbitrary number tied to basic bitcoin statistic to prove my point. |
i am satoshi
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Ploo
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April 16, 2013, 02:18:45 PM |
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I somehow doubt ASIC miners are selling much more than to just cover investment and power costs. You don't buy an ASIC if you're long term bearish on bitcoin so they are more than likely to be holding onto their coin.
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aop
Newbie
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Activity: 34
Merit: 0
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April 16, 2013, 02:22:14 PM |
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How many Bitcoins are created per day? Is the number still 3600? If so the Bitcoin market still needs $200k+ of new money everyday just to keep Bitcoin stable at current price point.
Shhh don't start injecting reality to people they still think it is possible to go to $10,000. At $266 there needed to be $900,000 per day (someone else's calculation). This would explain why it topped out there. no way. don´t forget all the cash that the smart guys who sold all the way down to present have piled up. the money that others lost is not gone - it just changed hands. those guys profited a lot. they will want to profit again. but they can only do so if they buy btc. they are all waiting.... I doubt that money stays in Bitcoin economy. People buying expensive Bitcoins are funding someone elses houses, cars, boats etc. |
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IIOII
Legendary
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Activity: 1153
Merit: 1012
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April 16, 2013, 02:50:03 PM |
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I think we'll see $ 30 / BTC at least.
So many people are looking for $30 bitcoins that I don't think it will make it. It seems like every person I've seen on reddit is using that number, and plenty of people on here. Also, people have to be willing to sell the BTC141k (much higher when accounting for people buying in as it drops) to get it there. Attitudes change with mood. Buyer's mood will be different than today if we go down further. Uncertainty will spread. Before we will see Bitcoin going up (again) we will see capitulation of some perma-bulls. So below $ 30 is well possible. |
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SlipperySlope
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April 16, 2013, 02:56:32 PM |
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According to observed financial bubbles in the past, and especially with 2011, the lowest point is lower than most people would have guessed beforehand.
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ElectricMucus
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Activity: 1666
Merit: 1057
Marketing manager - GO MP
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April 16, 2013, 02:59:11 PM |
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Looks like $50 will be the bottom.
Yes I am like all in. |
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zby (OP)
Legendary
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Activity: 1593
Merit: 1001
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April 16, 2013, 07:08:03 PM |
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current results:
yes - I am fully (back) in BTC 33 (23.2%)
yes - but I wait for confirmation 23 (16.2%)
I don't know 26 (18.3%)
no - but I've bought some 11 (7.7%)
no 49 (34.5%)
Total Voters: 142
Current price 69 (down from above 80).
Sentiment slightly up - I wish I checked it when we were climbing to 80.
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ErisDiscordia
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Activity: 1133
Merit: 1163
Imposition of ORder = Escalation of Chaos
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April 16, 2013, 07:47:51 PM |
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I applaud Proudhon for being consistently contrarian and thus sowing DISCORD btw I have no idea if we've hit bottom, but I've bought some coins anyway. |
It's all bullshit. But bullshit makes the flowers grow and that's beautiful.
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proudhon
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Activity: 2198
Merit: 1311
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April 16, 2013, 08:10:58 PM |
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Again, it'll be bumpy, but $50 is very likely the bottom. This bubble attracted the attention of people who can help build more resilient and professional markets and apps on top of the protocol. It'll be a few months before we useful products out of this, but it's coming.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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Rampion
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Activity: 1148
Merit: 1018
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April 16, 2013, 10:16:28 PM |
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Proudhon, may I ask what changed in two days to make you so bullish compared to two days ago? One example: I'll keep posting these until everyone understands what it means. It answers the question in the thread title.  So, yes, lots of people know about bitcoin, but enough people who know about them and own some don't want them anymore. The ask depth on MtGox is the highest it's been in 6 months and is a little more than 5x what it was just before the crash. People were fooled into thinking the supply of bitcoins was low relative to the demand. It isn't. And over time we'll see the price reflect this fact as more and more people internalize it. We will see low double digits, and when people get sufficiently off-put by that, we'll see the price collapse into the single digits. No more single digits? Maybe you bought some at $50 and now feels bad?  That would be epic for bitcointalk's most famous permabear |
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