when to buy, NOW

[Birdy]

So it's really very unclear. What is clear though, is that it's likely to be very volatile.

Personally, I'm happy to be invested, but not more than I'm willing to lose.

agreed. I wish I had a ton of extra cash to invest, but, you've got to work with what you've got I suppose.

Me too. I would like to invest more, but I'm not rich and I need money to live.
I need to be able to shrug it off, even if Bitcoin should crash to $0 .

[phonky]

I totally love the p2p nature of bitcoin, but I also want to say that if we use them the same way as $ (in other words trying to screw the whole planet in order to get as much as possible of them) we will mis-use them the same way as we mis-use $.

[Nightowlace]

I totally love the p2p nature of bitcoin, but I also want to say that if we use them the same way as $ (in other words trying to screw the whole planet in order to get as much as possible of them) we will mis-use them the same way as we mis-use $.

inevitable. That is human nature.

[RustyGunz]

I think that since it has and can go higher than 266 you are getting in at a good price under that amount. obviouly the sooner the better, as we can see today that it is rising quite a bit. say you had just ten coins, for every dollar it goes up you make ten, so if you bout at 100 you have made 435.10. we will continues to see the price go up as we start to go main stream.

for those of you who are just learning about bit coin I would say get in soon. yes there will be ups and downs but hold to at least the last ATH and thenif you sell you will be sitting pretty, but be prepared to kick yourself when the price goes to 500 and then to 1,000. just saying. 

It's greedy, dollar-minded thinking like this that messes up Bitcoin

I hope all hedge funds, dollar investors, daytraders, stock brokers, and other scum from the old monetary system lose a SHITLOAD of money. So the only people remaining in Bitcoin are there because they understand and appreciate the ideology behind Bitcoin.

Here's the thing: you shouldn't see Bitcoin as a way to make dollars. You should see Bitcoin as a way to DESTROY the dollar.

If you fail to get larger investors into BTC, the volume and liquidity will remain anemic and the project won't go anywhere. Eventually, if big money enters the market, you will probably see leveraged trading accounts, hedges balancing between precious metals and btc, ETF's, small banks accepting conversions/issuing btc atms etc. Right now, if you look at the volume of any currency base besides BTC/USD, its pretty sad and that won't improve with a bunch of people buying and holding or purchasing little (in the grand scope of things) stuff online. If you get some VC's with some cash to burn in a new concept like bitcoin -watch it explode (it will probably make all home miners a thing of the past, but like gold, i don't see a whole lot of pan-sifters in the local river these days). When a market goes up and down $50 a day, you're dreaming if you don't think people start to see dollar signs. Even the most independent thinking, anti-establishment, anti-centralization thinking person has to eat and probably dislikes his or her day job. Not to mention, by the laws of supply and demand, if the market dynamics stay exactly the same as it is now, with little to no institutional investors, yet the monetary base continues to expand, where's all this price strength coming from? I can't buy gas or a sandwich with it yet so you're going to need some heavy hands to inject this thing with the juice needed for the next leg up in the absence of broad consumer acceptance on such a short timeframe.

[diamondsea]

Here's the thing: you shouldn't see Bitcoin as a way to make dollars. You should see Bitcoin as a way to DESTROY the dollar.

I'm pretty sure many people are looking at it both ways, ironically enough ;-)

[diamondsea]

I don't think that it's obvious that now is the time to buy

There's a big wave of publicity and interest

However, at the same time, there are a ton of people waiting in line to get *massive* mining rigs using ASICs

This will mean a ton of new coins will be generated, and presumably a proportion of those will be sold, putting pressure on prices

So it's really very unclear. What is clear though, is that it's likely to be very volatile.

Personally, I'm happy to be invested, but not more than I'm willing to lose.

BTC are generated at a (mostly) fixed rate, with the mining difficulty increasing or decreasing depending on the total mining power devoted to mining at the time.

The ASICs aren't going to mean that more coins are going to be generated, it means that the people with ASICs will get a larger percentage of the coins that are generated, because they will be doing a much higher number of the calculations required to mine a coin.

[geoburke]

I foresee a $400 or $500 price tag by the end of the year, because we will likely see other Cyprus-like incidents where government encroaches on citizens' money rights.

[p0rkbelly]

I was hoping for a quick dip ino the 70s this week then I was going to buy. But nope. Should have bought when it was below 100...

[westofthefield]

should have bought more last week

[raze]

should have bought more last week

^this

[XXthetimeisnowXX]

I was hoping for a quick dip ino the 70s this week then I was going to buy. But nope. Should have bought when it was below 100...

ya i was thinking of putting more into it myself, even though my avrage is 150 per bit, (the ones i bout at 12 i spent.......if i only new!!)
but was like na i better wait....damn i would have made some money allready.

I remember buying like twohundredfifty worth of btc and getting like 58 coins,aughhh i spent them...not knowing what i had. happy it went up a little but not enough to think it would rocket up. had no idea i was holding 8,120 man it tought me a lesson. now i have those coins back but not after spending just under that. did buy 10 at 230.....yaya i know but it did go up another 36 from that but since coinbase doesnt relise your coins till a week later i was kinda screwed.


anyways this bitcoin thing is going to go out of sight like 850 by years end. ya i said it. but im thinking more like 8500 in five-ten years. call me crazy but thats my opinion.

[XXthetimeisnowXX]

I foresee a $400 or $500 price tag by the end of the year, because we will likely see other Cyprus-like incidents where government encroaches on citizens' money rights.

yep i agree this thing is just to smart for smart people to not invest.

[traderv]

It's currently retracing. Broke 140, so we should see 160 next. If it pierces that, then 180. Trend is definitely bullish, but also lots of scared folks out there....MtGox is not well capitalized in my opinion, and will have challenges.
Bitfloor is gone, who's next?

[footrot_flats]

Haha I remember all the same sort of talk during the year 2000 share trading bubble burst. Every type of share was going up especially technology shares. Tech companies were paying 60,000 GBP per month to rent a tiny space in a building on The Strand in London, they all were signing contracts for 3 years and more. You could buy 100 pounds worth of shares and watch them double triple quadruple within a week. Times were booming...   ... then the bubble burst, alot of people lost alot of money - I heard in the US a few people went ballistic and charged into investment banks/brokers killing people. In London (I worked in IT at an investment bank) I saw investment bankers sweating/chain smoking and getting fired because of the amount of money they had lost.  I remember loosing $40,000 USD overnight then $20,000 the next day my shares then amounted to nothing over the period of 2 weeks. The tech companies Id backed went bust within 6months. Didnt matter too much as Id only forked out $1000 USD in the first place. But I see the same sort of feverish talk - will be worth 300, 400, 1000 dollars by the end of the year. Woooohooooo. 

Its a matter of getting out at the right time. Dont get greedy or youll be a casaulty of the bubble bursting just like I was back then. phew luckily I hadnt put my house on the line as I saw other people do.

I know people will shoot this down - but I have seen it time and time again since 2000. Ultimately you are the captain on your own ship...

[BitFred]

I agree

[aggieben]

It's currently retracing. Broke 140, so we should see 160 next. If it pierces that, then 180. Trend is definitely bullish, but also lots of scared folks out there....MtGox is not well capitalized in my opinion, and will have challenges.
Bitfloor is gone, who's next?

Hoepfully Mt. Gox so we don't see another crash when they get DDOSed. Let's do away with all exchanges and bring on the decentralized ones.

Maybe I'm just unimaginative, but I think exchanges are inherently centralized to some degree.  This could be for no other reason than the regulatory burden of traditional currency transfers, or it could also be the only suitable way to accomplish exchange transactions efficiently.  I don't think you'll ever see a P2P exchange mechanism for traditional currencies.

[footrot_flats]

Haha I remember all the same sort of talk during the year 2000 share trading bubble burst. Every type of share was going up especially technology shares. Tech companies were paying 60,000 GBP per month to rent a tiny space in a building on The Strand in London, they all were signing contracts for 3 years and more. You could buy 100 pounds worth of shares and watch them double triple quadruple within a week. Times were booming...   ... then the bubble burst, alot of people lost alot of money - I heard in the US a few people went ballistic and charged into investment banks/brokers killing people. In London (I worked in IT at an investment bank) I saw investment bankers sweating/chain smoking and getting fired because of the amount of money they had lost.  I remember loosing $40,000 USD overnight then $20,000 the next day my shares then amounted to nothing over the period of 2 weeks. The tech companies Id backed went bust within 6months. Didnt matter too much as Id only forked out $1000 USD in the first place. But I see the same sort of feverish talk - will be worth 300, 400, 1000 dollars by the end of the year. Woooohooooo. 

Its a matter of getting out at the right time. Dont get greedy or youll be a casaulty of the bubble bursting just like I was back then. phew luckily I hadnt put my house on the line as I saw other people do.

I know people will shoot this down - but I have seen it time and time again since 2000. Ultimately you are the captain on your own ship...

To be fair Bitcoin has a lot more value than many of those dot com stocks that barely even had a business model. I don't think the comparison is adequate.

Hmmm I spose we shall see... we shall see...

[footrot_flats]

Haha I remember all the same sort of talk during the year 2000 share trading bubble burst. Every type of share was going up especially technology shares. Tech companies were paying 60,000 GBP per month to rent a tiny space in a building on The Strand in London, they all were signing contracts for 3 years and more. You could buy 100 pounds worth of shares and watch them double triple quadruple within a week. Times were booming...   ... then the bubble burst, alot of people lost alot of money - I heard in the US a few people went ballistic and charged into investment banks/brokers killing people. In London (I worked in IT at an investment bank) I saw investment bankers sweating/chain smoking and getting fired because of the amount of money they had lost.  I remember loosing $40,000 USD overnight then $20,000 the next day my shares then amounted to nothing over the period of 2 weeks. The tech companies Id backed went bust within 6months. Didnt matter too much as Id only forked out $1000 USD in the first place. But I see the same sort of feverish talk - will be worth 300, 400, 1000 dollars by the end of the year. Woooohooooo. 

Its a matter of getting out at the right time. Dont get greedy or youll be a casaulty of the bubble bursting just like I was back then. phew luckily I hadnt put my house on the line as I saw other people do.

I know people will shoot this down - but I have seen it time and time again since 2000. Ultimately you are the captain on your own ship...

To be fair Bitcoin has a lot more value than many of those dot com stocks that barely even had a business model. I don't think the comparison is adequate.

No but gold and silver would be a good comparison, countries hoarding, people buying coins etc for a rainy day... Gold got up to 1900 USD an ounce a year back, now its what 1400 there abouts. Something that wasnt ment to happen. Also you cant tell me Apple doesnt have a business plan. 

[RustyGunz]

It's currently retracing. Broke 140, so we should see 160 next. If it pierces that, then 180. Trend is definitely bullish, but also lots of scared folks out there....MtGox is not well capitalized in my opinion, and will have challenges.
Bitfloor is gone, who's next?

Support and resistance and indicators like Fibonnaci rely on a certain amount of volume and walls of institutional and retail bid and ask entry orders and stops to really work. It is difficult to draw any sort of solid technical analysis conclusions off a trend less than 2 months old and at it's peak volume in USD, was only 35,790 coins.

[XXthetimeisnowXX]

It's currently retracing. Broke 140, so we should see 160 next. If it pierces that, then 180. Trend is definitely bullish, but also lots of scared folks out there....MtGox is not well capitalized in my opinion, and will have challenges.
Bitfloor is gone, who's next?

ya. we need gox i don't want them gone but they hold TOOOOO much of the market, this i have stated many times. Personally i like BITSTAMP.  If your looking to get into bitcoins and want an exchange then bitcoin is good.  I have also heard good things about CAMPBX but have no personal experience, signed up but not currently using it.