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Author Topic: What price would you stop buying Bitcoin?  (Read 9074 times)
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May 13, 2017, 03:47:55 AM
 #81

...

I'm not sure that I would ever stop, even at a very high price.  As long as I have some kind of income arriving, a small part would probably go to buying Bitcoin.

Also, there is the possibility that .gov would want to tax BTC price gains (capital gains tax), if at least part of your BTC holdings were bought at a high price, then you are partly shielded from paying a higher CapGains tax, just a thought...
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May 13, 2017, 03:53:16 AM
 #82

There's no exact value on when I would stop buying, as of now I don't buy bitcoin because I consider it high but I know one day that it is going to beo n the higher price. And if I have some spare money whether the price is high or low, I'm going to buy. It's just a matter of budgeting.
Me also, i do not buy at this current value but it depends if there is a news that bitcoin will have continuous adoption by each country i think even the value of bitcoin is $2000 i would buy some because i know that every adoption has a big effect on the value of bitcoin


Remembers me when I said to myself, OMG, BTC at parity with the dollars, wow, never tought it was possible.. I told myself, "that's the price of a bitcoin".   Then parity with silver, then gold, then..  wait.. nothing compares to it in human history..  Before 2009, every mean of exchange were valued phisical or political stuff.. Now something that as value is backed by mathematics.. no ressources or power involved.  Just math !
It's a great revolution toward progress that Crypto-Blockchain stuff bring to humanity !Evolution! Smiley
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May 13, 2017, 04:19:52 AM
 #83

pump or dump
pump.
I've come to hate this phrase with a passion.  "Pump and dump" refers to a very specific ripoff technique, and yet people on this forum use it like they think they're commentators on MSNBC, using some clever financial jargon.  Drives me nuts.

OP, I've stopped buying as of a couple of days ago, but not because I think we're too high--though we're damn high, and we rose way too fast--but because I've blown through my allotment of disposable cash for the week.  In other words, if I had more dough I'd be buying still.  Not huge amounts, but I'd still be buying.  And I haven't sold any.  I think this bull run still has some life left in it.  Perhaps next week I can get some more at a better price.



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May 13, 2017, 04:51:06 AM
 #84

There's no exact value on when I would stop buying, as of now I don't buy bitcoin because I consider it high but I know one day that it is going to beo n the higher price. And if I have some spare money whether the price is high or low, I'm going to buy. It's just a matter of budgeting.
Me also, i do not buy at this current value but it depends if there is a news that bitcoin will have continuous adoption by each country i think even the value of bitcoin is $2000 i would buy some because i know that every adoption has a big effect on the value of bitcoin


I guess with the move of Japan's adoption it's clear that other countries will possibly do the same thing. But don't expect that bitcoin will be adopting by each countries. I know the demand of bitcoin is getting higher and higher, in the end I don't have any way to buy them because the price is flying to the moon.

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May 13, 2017, 05:08:07 AM
 #85

Now something that as value is backed by mathematics.. no ressources or power involved.  Just math !
It's a great revolution toward progress that Crypto-Blockchain stuff bring to humanity !Evolution! Smiley

Be careful with "backed by math".  It is backed by the math that a miner consortium decides to put into the software they are running to make the block chain.  You may think that the 21 million coins are "fixed by math", but that's not true.  They are only fixed by the lines of software that are running now on the nodes of the miner pools.  The only thing that withholds them from changing that, is the *psychological* barrier ; the fact that this was so hammered into the minds of the users that if ever they dare to change that, the whole belief system crumbles.  But it is not "backed by math", at all.

Where does this 21 million come from ?  It comes from the fact that there's a piece of software that has a counter, and every 210 000 blocks, it halves the block reward.

Here's that piece of code:


It means that during 210 000 blocks, there were 50 coins ; then there were 25 coins in the next 210 000 blocks, etc....

As 50 + 25 + 12.5 + 6.25 + .... = 100

we have that in total, *if this piece of software continues to run unchanged for the next 100 years or so*, there will be 210 000 * 100 = 21 000 000 coins in total.

If tomorrow, all the miner pools together (there are about 20 of them) decide to change those few lines of code, you can print just as many bitcoin as you want.  No math, apart from the trivial math that calculates the sum when you have the lines of code, in the same way that "the math determines the emission of fiat currency", when a central bank prints, say, a million dollars a day, you can say that "the math" fixes the amount of dollars printed per year to 365 million.

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May 13, 2017, 05:15:26 AM
 #86

The price of Bitcoin is hitting new highs regularly now...  and yet it is expected to continue rising.  At what price would you stop buying? 
As a bitcoin trader/investor, I don't limit myself in investing such as investing in bitcoin. I do buying bitcoin as much as I have extra momey to invest in. I don't put ir plan an specific amount or target in imvesting to avoid disappointment. Risk what you can afford to lose, thus don't make a target amount you need to invest.

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May 13, 2017, 05:18:02 AM
 #87

never sell Btc until it's 3000$
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May 13, 2017, 08:52:14 AM
 #88

Probably you would stop buying bitcoin when the price is really high like not and this time I already stop buying and just waiting for may investment to grow but there are times that the bitcoin price go down that the time I will buy bitcoin again.

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May 13, 2017, 09:24:50 AM
 #89

Now something that as value is backed by mathematics.. no ressources or power involved.  Just math !
It's a great revolution toward progress that Crypto-Blockchain stuff bring to humanity !Evolution! Smiley

Be careful with "backed by math".  It is backed by the math that a miner consortium decides to put into the software they are running to make the block chain.  You may think that the 21 million coins are "fixed by math", but that's not true.  They are only fixed by the lines of software that are running now on the nodes of the miner pools.  The only thing that withholds them from changing that, is the *psychological* barrier ; the fact that this was so hammered into the minds of the users that if ever they dare to change that, the whole belief system crumbles.  But it is not "backed by math", at all.

Where does this 21 million come from ?  It comes from the fact that there's a piece of software that has a counter, and every 210 000 blocks, it halves the block reward.

Here's that piece of code:


It means that during 210 000 blocks, there were 50 coins ; then there were 25 coins in the next 210 000 blocks, etc....

As 50 + 25 + 12.5 + 6.25 + .... = 100

we have that in total, *if this piece of software continues to run unchanged for the next 100 years or so*, there will be 210 000 * 100 = 21 000 000 coins in total.

If tomorrow, all the miner pools together (there are about 20 of them) decide to change those few lines of code, you can print just as many bitcoin as you want.  No math, apart from the trivial math that calculates the sum when you have the lines of code, in the same way that "the math determines the emission of fiat currency", when a central bank prints, say, a million dollars a day, you can say that "the math" fixes the amount of dollars printed per year to 365 million.



Well that's an interesting perspective, but could you please elaborate more?

As far as I understand, the total number of Bitcoins  is the sum of a Geometric series (S):

 S = 210000 x 50 x ( 1 / (1 - 0.5) ) = 21 million.

If we already have a given geometric series, how can we change change its sum?

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May 13, 2017, 10:42:02 AM
 #90

never sell Btc until it's 3000$
Yes that is one of my price target for the high price of bitcoin and i think if the price reaches at least 3000 USD a lot of people will sell mostly those people who bought their bitcoins from 1000 USD or below. If i were you, i will sell some of my bitcoins if the price reaches 3000 USD to get ROI and i will keep the rest for another price target.

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May 13, 2017, 12:34:36 PM
 #91

The price of Bitcoin is hitting new highs regularly now...  and yet it is expected to continue rising.  At what price would you stop buying? 

well if I were able to buy bitcoin I would stop buying once the value has reached the amount that is very much closer to $2,000, actually at this moment buying bitcoin seems to be very risky already because although the price is continuously getting much higher sometimes it is also getting decreased maybe due to those people who are panic selling their bitcoin and it made me think that after hitting expected price most people will quickly dump their coin .

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May 13, 2017, 12:43:33 PM
 #92

The price of 1 bitcoin is arbitrary. It makes you feel like it's one unit when in fact it's 100 million units of value. There isn't a price I would stop buying at but I definitely would try to buy at dips so you know you're buying at a more true value for that time period.














 

 

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May 13, 2017, 01:36:03 PM
 #93

apart from being an investor in bitcoin i am also using it as a currency to purchase some stuff from internet and that means for me it will never matter what the price is! i will continue buying bitcoin as long as i need to spend some.
I think if you use bitcoin for investment it will be a bit problematic. Of course the more expensive, then you will only get a bit bitcoin just because of limited funds. And I think the bitcoin price changes will also turn into a non-volatile #imo

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May 13, 2017, 03:55:22 PM
 #94

Probably you would stop buying bitcoin when the price is really high like not and this time I already stop buying and just waiting for may investment to grow but there are times that the bitcoin price go down that the time I will buy bitcoin again.
Yes, I agree with you. You should try to buy in the best time for avoiding any kind of loss, but it's too hard because no one can predict what will happen in bitcoin financial market. So i advise people to buy know before any other increase of price. because I think if the price will be more than 2000$. Not all people can buy it. 2k$ Is a huge amount for many peoples.

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May 13, 2017, 03:58:45 PM
 #95

Probably you would stop buying bitcoin when the price is really high like not and this time I already stop buying and just waiting for may investment to grow but there are times that the bitcoin price go down that the time I will buy bitcoin again.
Yes, I agree with you. You should try to buy in the best time for avoiding any kind of loss, but it's too hard because no one can predict what will happen in bitcoin financial market. So i advise people to buy know before any other increase of price. because I think if the price will be more than 2000$. Not all people can buy it. 2k$ Is a huge amount for many peoples.
Anything can happen in bitcoin world. There is nothing we can avoid. So trading every time is a careful choice. We just have to determine the right time. While prices sometimes change prices without notice.

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May 13, 2017, 04:02:11 PM
 #96

The price of Bitcoin is hitting new highs regularly now...  and yet it is expected to continue rising.  At what price would you stop buying? 
Logically we can assume that bitcoin price, because of the natural properties of BTC combined with growing awareness and adoption will continue to grow.
It is safe to say that even if you buy BTC at today's hypothetical ATH soon we will have even higher ATH.

Conclusion: as long as you have fiat money to spare buying bitcoin is a great option.
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May 13, 2017, 05:51:26 PM
 #97

Bitcoin prices are decreasing or increasing. If the cost of Bitcoin is increased, then we can make profit from Bitcoin. And we can trade or invest it.
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May 13, 2017, 08:06:41 PM
 #98

I will only stop buying when it exceeds $3k per BTC because at stage I would be better off buying mining equipments to stletup my own mining rig and mining Altcoins in order to sell for bitcoins.

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May 13, 2017, 08:38:29 PM
 #99

pump or dump
pump.
I've come to hate this phrase with a passion.  "Pump and dump" refers to a very specific ripoff technique, and yet people on this forum use it like they think they're commentators on MSNBC, using some clever financial jargon.  Drives me nuts.

OP, I've stopped buying as of a couple of days ago, but not because I think we're too high--though we're damn high, and we rose way too fast--but because I've blown through my allotment of disposable cash for the week.  In other words, if I had more dough I'd be buying still.  Not huge amounts, but I'd still be buying.  And I haven't sold any.  I think this bull run still has some life left in it.  Perhaps next week I can get some more at a better price.
although  i still want to buy, because i think still the price of bitcoin is going to increase more and more, but in fact i cannot afford to buy more as  i have already bought a good amount of bitcoin, even i take some loan from my friend and invest it here, as i am confident that bitcoin will really give me good profit in the end.


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May 13, 2017, 08:46:24 PM
 #100

I will only stop buying when it exceeds $3k per BTC because at stage I would be better off buying mining equipments to stletup my own mining rig and mining Altcoins in order to sell for bitcoins.

This is my plan to build my own mining rig but I won't mine bitcoin but I'm going to mine alt coins because it's more profitable than mining bitcoin which is the difficulty is harder nowadays. I'm planning if I'm going to stop at $3k or if there will be more good news to come whatever the price will be I'm going to buy at any moment.



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