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Author Topic: Valuing your coins correctly..  (Read 3288 times)
WiseOldOwl
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June 24, 2011, 07:14:51 PM
 #1

Please for the love of god have some balls and demand a proper price for your coins. I will not sell at these difficulty/price pairs. neither should you. It just takes some time to even out, and the more people that hold long the faster the true value will surface. just like it was .10 cents and now its 15 bucks. It will be 150 times bigger inevitably, then 150 times bigger after that. Can you wait and not eat your 500,000 dollar pizza early?

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June 24, 2011, 07:22:27 PM
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Don't worry, I only plan to undercut you by $0.01.
WiseOldOwl
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June 24, 2011, 07:27:25 PM
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Oh Cheesy Thank Goodness,
I thought we were screwed for a second....

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June 24, 2011, 07:31:39 PM
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i have seen people use difficulty divided by 25000 as a way to estimate a non-market value for btc.  currently, that would make each btc worth about $55.  i think i will hold onto mine for the time being.
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June 24, 2011, 08:23:30 PM
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But, what if I'm already in profit territory and make money at the current exchange rate?
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June 24, 2011, 09:04:26 PM
 #6

Please for the love of god have some balls and demand a proper price for your coins. I will not sell at these difficulty/price pairs. neither should you. It just takes some time to even out, and the more people that hold long the faster the true value will surface. just like it was .10 cents and now its 15 bucks. It will be 150 times bigger inevitably, then 150 times bigger after that. Can you wait and not eat your 500,000 dollar pizza early?
A high value with a low volume is meaningless. It doesn't help if BitCoins are at $1,500 each if selling 500 of them will crash the market. Volume is needed just as much as price if you want a credible currency.

I am an employee of Ripple.
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iopq
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June 25, 2011, 03:12:11 PM
 #7

Please for the love of god have some balls and demand a proper price for your coins. I will not sell at these difficulty/price pairs. neither should you. It just takes some time to even out, and the more people that hold long the faster the true value will surface. just like it was .10 cents and now its 15 bucks. It will be 150 times bigger inevitably, then 150 times bigger after that. Can you wait and not eat your 500,000 dollar pizza early?
A high value with a low volume is meaningless. It doesn't help if BitCoins are at $1,500 each if selling 500 of them will crash the market. Volume is needed just as much as price if you want a credible currency.
I'd be ok with that, I'll just put an order for $1500 and wait until it's executed at that price then
I wouldn't mind waiting a couple of days to get my $750,000

WiseOldOwl
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June 26, 2011, 09:18:03 AM
 #8

Please for the love of god have some balls and demand a proper price for your coins. I will not sell at these difficulty/price pairs. neither should you. It just takes some time to even out, and the more people that hold long the faster the true value will surface. just like it was .10 cents and now its 15 bucks. It will be 150 times bigger inevitably, then 150 times bigger after that. Can you wait and not eat your 500,000 dollar pizza early?
A high value with a low volume is meaningless. It doesn't help if BitCoins are at $1,500 each if selling 500 of them will crash the market. Volume is needed just as much as price if you want a credible currency.

I agree, but I don't think we run the risk of a 500 a day volume no matter what so I dont know what your talking about in that sense. It has already been stated that miners don't control enough of the market to effect it let alone crash it, I just suggest waiting until the rest of the market evens out to get max value. Or you could sell now, w/e.

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June 26, 2011, 11:29:33 AM
 #9

Please for the love of god have some balls and demand a proper price for your coins. I will not sell at these difficulty/price pairs. neither should you. It just takes some time to even out, and the more people that hold long the faster the true value will surface. just like it was .10 cents and now its 15 bucks. It will be 150 times bigger inevitably, then 150 times bigger after that. Can you wait and not eat your 500,000 dollar pizza early?
A high value with a low volume is meaningless. It doesn't help if BitCoins are at $1,500 each if selling 500 of them will crash the market. Volume is needed just as much as price if you want a credible currency.

I agree, but I don't think we run the risk of a 500 a day volume no matter what so I dont know what your talking about in that sense. It has already been stated that miners don't control enough of the market to effect it let alone crash it, I just suggest waiting until the rest of the market evens out to get max value. Or you could sell now, w/e.
If you want to argue that miners should hold their coins because they'll be worth more in the future, that's fine. But if you want to argue that miners should hold their coins so that they'll be worth more in the future, see my reply. You did say: "the more people that hold long the faster the true value will surface" In fact, I think that's completely false. The higher the volume, the faster the true value will surface.

I am an employee of Ripple.
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newunit16
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June 26, 2011, 11:47:14 AM
 #10

tell this to the guys in california gold rush, ~150 years ago.

value will increase when you can buy more than drugs with BTC. not when "the difficulty goes up!" like a bunch of crazies say. "hey boy, i got this rock i found 100' in the earth. wanna buy it? its worth 100x the price of 'surface rocks'". see? doesnt really work out.
Chucksta
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June 26, 2011, 06:14:42 PM
 #11

I just mentioned this in another post, so I'll just reword it.... keep the bid/ask price high = profit from mining
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June 26, 2011, 06:36:59 PM
 #12


It seems a bit of a paradox: for BTC to be worth something people need to spend their BitCoins.  Scarcity driving up price only works when there's demand for the scarce thing. 

It's not so much holding on to your BitCoins as it is demanding to be paid in them (and being willing to pay others with them).  The BitCoin economy has to flourish or you've got a wallet full of random bits that may as well be raw disk space.

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June 26, 2011, 07:20:06 PM
 #13

i have seen people use difficulty divided by 25000 as a way to estimate a non-market value for btc.  currently, that would make each btc worth about $55.  i think i will hold onto mine for the time being.

That's a ridiculous valuation, probably pulled out of his ass from nowhere. At $55, you would get 100% ROI in a month, that sounds like a HYIP scam, not a real investment. Even the current $15 valuation is pretty high, miners can pay off their rigs in less than 4 month if difficulty stay at the current level (which it might, since we haven't seen a lot of growth in computing power lately)

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muyoso
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June 26, 2011, 07:20:53 PM
 #14

Who is going to buy a $100 bitcoin?  I have trouble believing people were buying $30 bitcoins.  Bitcoins as a currency are worthless right now.  The only people buying them are speculators and maybe a sprinkle of drug users.  Speculators don't buy high and the drug trade online would really have to explode to support the number of bitcoins people want to sell.

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malevolent
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June 26, 2011, 07:48:39 PM
 #15

Well why wouldn't they buy bitcoins for 100$ each? If 1 BTC = 100$ then on more goods the users can spend their BTC on.
Jack of Diamonds
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June 26, 2011, 10:51:16 PM
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If they were really to stabilize at $100, obviously few people would be purchasing or selling whole BTC for their small purchases or daily needs.

You'd probably buy 10 bitcents, or 25 bitcents etc.. Just like you buy an ounce of gold, or a 40 gram silver bullion.

You don't go and buy the whole troy ounce or even a kilogram if you're an average person.

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June 26, 2011, 11:05:05 PM
 #17

I think the bitcoins will go up....but the speed and how much would depend on what you can buy.

right now there are consumers accepting bitcoins.....but mostly tech guys....bitcoins will go up when you can
buy stuff from places like walmart.com....i do like that Newegg is starting to take them.....

I think bitcoins needs to get out there....the only way to find info on it is on the forums.....

there is no site with bitcoin news....consumers can advertise...etc.........

untill we get mainstream i dont think the price will get very high





199knw79vwoq8jmSuCBjuTH2sWuA9UqVnG

if you think i am awesome: 17ageeRi6YfSoTeqwsfeHzNqpRgeCYqdaF
fcmatt
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June 27, 2011, 12:02:03 AM
 #18

I think the bitcoins will go up....but the speed and how much would depend on what you can buy.

right now there are consumers accepting bitcoins.....but mostly tech guys....bitcoins will go up when you can
buy stuff from places like walmart.com....i do like that Newegg is starting to take them.....

I think bitcoins needs to get out there....the only way to find info on it is on the forums.....

there is no site with bitcoin news....consumers can advertise...etc.........

untill we get mainstream i dont think the price will get very high





199knw79vwoq8jmSuCBjuTH2sWuA9UqVnG

i just googled about newegg and bitcoin and to be honest.. i am not liking what i am seeing.
it appears a 3rd party is in the middle of any transaction, probably taking a small cut out of it (free for now it seems),
and then making sure your goods arrive via mail.

if one wants to say newegg is accepting bitcoins that is really stretching the truth of it.
here is the domain where i found the advertisement and here is the whois.. not giving me a lot of faith in it when they hide like this:

Registrant
    Private Whois Service
    Private Whois Service  f7o9xo64ddd5c86160f3@oqjij874d9300d54bd95.privatewhois.net
    *******PLEASE DO NOT SEND LETTERS******
    ****Contact the owner by email only****

    c/o bitspend.com
    N4892 Nassau
    Bahamas
bitcoinminer
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June 27, 2011, 01:09:24 AM
 #19

I think the bitcoins will go up....but the speed and how much would depend on what you can buy.

right now there are consumers accepting bitcoins.....but mostly tech guys....bitcoins will go up when you can
buy stuff from places like walmart.com....i do like that Newegg is starting to take them.....

I think bitcoins needs to get out there....the only way to find info on it is on the forums.....

there is no site with bitcoin news....consumers can advertise...etc.........

untill we get mainstream i dont think the price will get very high





199knw79vwoq8jmSuCBjuTH2sWuA9UqVnG

i just googled about newegg and bitcoin and to be honest.. i am not liking what i am seeing.
it appears a 3rd party is in the middle of any transaction, probably taking a small cut out of it (free for now it seems),
and then making sure your goods arrive via mail.

if one wants to say newegg is accepting bitcoins that is really stretching the truth of it.
here is the domain where i found the advertisement and here is the whois.. not giving me a lot of faith in it when they hide like this:

Registrant
    Private Whois Service
    Private Whois Service  f7o9xo64ddd5c86160f3@oqjij874d9300d54bd95.privatewhois.net
    *******PLEASE DO NOT SEND LETTERS******
    ****Contact the owner by email only****

    c/o bitspend.com
    N4892 Nassau
    Bahamas




Why would people dealing in anonymous currency not publish their contact details, and register the business in a tax haven? LOL

Seriously guys... You want it anonymous and decentralized, or you don't.

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
fcmatt
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June 27, 2011, 01:43:11 AM
 #20

I think the bitcoins will go up....but the speed and how much would depend on what you can buy.

right now there are consumers accepting bitcoins.....but mostly tech guys....bitcoins will go up when you can
buy stuff from places like walmart.com....i do like that Newegg is starting to take them.....

I think bitcoins needs to get out there....the only way to find info on it is on the forums.....

there is no site with bitcoin news....consumers can advertise...etc.........

untill we get mainstream i dont think the price will get very high





199knw79vwoq8jmSuCBjuTH2sWuA9UqVnG

i just googled about newegg and bitcoin and to be honest.. i am not liking what i am seeing.
it appears a 3rd party is in the middle of any transaction, probably taking a small cut out of it (free for now it seems),
and then making sure your goods arrive via mail.

if one wants to say newegg is accepting bitcoins that is really stretching the truth of it.
here is the domain where i found the advertisement and here is the whois.. not giving me a lot of faith in it when they hide like this:

Registrant
    Private Whois Service
    Private Whois Service  f7o9xo64ddd5c86160f3@oqjij874d9300d54bd95.privatewhois.net
    *******PLEASE DO NOT SEND LETTERS******
    ****Contact the owner by email only****

    c/o bitspend.com
    N4892 Nassau
    Bahamas




Why would people dealing in anonymous currency not publish their contact details, and register the business in a tax haven? LOL

Seriously guys... You want it anonymous and decentralized, or you don't.

straw man argument. one can have it both ways. when wanting to be anonymous it is there for you when you need it.

when wanting to buy LEGAL goods from a seller it is only natural you want some type of recourse if your goods
never arrive besides some half ass website and a lousy email address going to the same domain.

and just how exactly is buying goods online ever supposed to be anonymous when you have to send your mailing
address to the seller? So you give up any chance of being anonymous and allow all the risk to be on your side
of the table. Isn't that just a bit dumb?

Here is an example of a real business accepting bitcoins.

http://www.memorydealers.com/v4-about.html (search page for bitcoins).


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