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imperi
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June 17, 2011, 09:52:33 PM |
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My favorite part about all of this is that nothing noticeable will happen in the next few hours.
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Synaptic (OP)
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Activity: 84
Merit: 10
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June 17, 2011, 09:54:29 PM |
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Maybe you are making shit up?
IDK.
IDK, people who wait until the price drops nearly 50% to sell just don't deserve to hold onto it. Can't have the responsibility. The price now is still much higher than it's worth. I personally doubt there's any investors/speculators stupid enough at this point to try and drive the price up to $30 again. Maybe in a year when there's an ACTUAL bitcoin economy and not just a bunch of hot air, then the price might recover. But for now? No. I think it's been pretty publicly demonstrated that the BTC hot-air ballon basket is falling. |
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imperi
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June 17, 2011, 09:55:26 PM |
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Maybe you are making shit up?
IDK.
IDK, people who wait until the price drops nearly 50% to sell just don't deserve to hold onto it. Can't have the responsibility. The price now is still much higher than it's worth. I personally doubt there's any investors/speculators stupid enough at this point to try and drive the price up to $30 again. Maybe in a year when there's an ACTUAL bitcoin economy and not just a bunch of hot air, then the price might recover. But for now? No. I think it's been pretty publicly demonstrated that the BTC hot-air ballon basket is falling. If you were right, there wouldn't be such a large trade volume in USD every day. The price of Bitcoins must be high enough to support this volume. |
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Synaptic (OP)
Member
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Activity: 84
Merit: 10
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June 17, 2011, 09:57:13 PM |
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My favorite part about all of this is that nothing noticeable will happen in the next few hours.
That very well may be. I don't really understand the market well enough to know if the amounts involved are enough to move it right now. With the knowledge I have right now, I think it's a pretty good chance, but I've only been doing this for a week or so now. I don't know if he'll even have the balls to do it if he doesn't see a jump to at least $14-14.5, even though he's scared as hell and wants out... |
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imperi
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June 17, 2011, 09:58:38 PM |
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My favorite part about all of this is that nothing noticeable will happen in the next few hours.
That very well may be. I don't really understand the market well enough to know if the amounts involved are enough to move it right now. With the knowledge I have right now, I think it's a pretty good chance, but I've only been doing this for a week or so now. I don't know if he'll even have the balls to do it if he doesn't see a jump to at least $14-14.5, even though he's scared as hell and wants out... If the price of Bitcoins was $1, people wouldn't be able to buy $10k in Bitcoins (as they commonly do now), because that would require 10k bitcoins. 10k-60k or so Bitcoins are traded every day in total no matter what. So the price must be high enough to accommodate the larger flows of money. |
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jatajuta
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June 17, 2011, 10:00:52 PM
Last edit: June 23, 2011, 01:13:37 AM by jatajuta |
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Maybe you are making shit up?
IDK.
IDK, people who wait until the price drops nearly 50% to sell just don't deserve to hold onto it. Can't have the responsibility. The price now is still much higher than it's worth. I personally doubt there's any investors/speculators stupid enough at this point to try and drive the price up to $30 again. Maybe in a year when there's an ACTUAL bitcoin economy and not just a bunch of hot air, then the price might recover. But for now? No. I think it's been pretty publicly demonstrated that the BTC hot-air ballon basket is falling. The world is not only US and Europe. What do you think will happen when Brazil and other Latin American countries have access to MtGox or other exchanges? I live in Brazil and everyone is trying to buy bitcoins and is very difficult at this moment. Just wait when all the world have access to an exchange or when Pablo Escobar discovers that he can use bitcoins instead of dollars. And im not even considering a mass adoption which would make the prices go to 5000+ easily.
http://falkvinge.net/2011/06/16/bitcoins-four-drivers-part-one-unlawful-trade/ |
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Synaptic (OP)
Member
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Activity: 84
Merit: 10
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June 17, 2011, 10:03:08 PM |
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Well, I have to take a nap, so whenever I get back we'll see if I've been totally full of it, or just how deep the rabbit hole is going.
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Synaptic (OP)
Member
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Activity: 84
Merit: 10
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June 17, 2011, 10:04:59 PM |
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I don't really understand the market well enough to know if the amounts involved are enough to move it right now.
15951 Bitcoins sold at this instant (ignoring dark buy orders) will drop the price to 11.99. Then it's definitely not going to $11.99 on my words... |
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imperi
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June 17, 2011, 10:05:40 PM |
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My favorite part about all of this is that nothing noticeable will happen in the next few hours.
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Oldminer
Legendary
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Activity: 1022
Merit: 1001
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June 17, 2011, 10:05:58 PM |
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Yea great, well we need some excitement around here.
Someone do something..anything..
edit: maybe someone could post another chart with a prediction. There always good for a laff
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meighty
Newbie
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Activity: 28
Merit: 0
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June 17, 2011, 10:29:34 PM |
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Isn't that what a market is suppose to do?
If it goes down low and people start to panic, others will buy and it will start to drive the price back up.
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befuddled
Member
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Activity: 73
Merit: 10
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June 17, 2011, 10:32:37 PM |
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Well maybe people will finally stop building new mining hardware, difficulty will drop and we can get back to earning a few from our rigs.
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piuk
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June 17, 2011, 10:38:54 PM |
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well that was an anti climax
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imperi
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June 17, 2011, 10:41:44 PM |
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His friend probably had 200 BTC to sell... could've changed everything.
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flug
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June 17, 2011, 11:00:13 PM |
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Rally! Hold on!
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mjsbuddha
Sr. Member
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Activity: 336
Merit: 250
yung lean
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June 17, 2011, 11:06:18 PM |
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Rally! Hold on!
All my strategic butt holding finally pays off! |
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meighty
Newbie
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Activity: 28
Merit: 0
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June 17, 2011, 11:07:44 PM |
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If you were playing the markets right now, you could be making some money....
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AtomicTrader
Newbie
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Activity: 34
Merit: 0
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June 17, 2011, 11:16:20 PM |
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Bizarre movement. Back down she goes. Probably to new low of day too.
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imperi
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June 17, 2011, 11:52:36 PM |
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So what's the scoop? Did your friend sell all his BTC at $13.50? LOL. "Future Warren Buffet"
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