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OgNasty
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June 29, 2011, 12:09:55 AM
 #21

I'm holding until after the hyperinflation hits, and maybe not even then.

This is what I'm thinking.  I don't see why anyone would sell before 2016 unless:  A) They're greedy and mine simply to make a quick buck (this never works out).  B) They're poor and $20 is a lot of money to them, in which case they shouldn't be mining bitcoins in the first place, they should be finding a job.  C) They don't know anything about bitcoins and have no clue that there won't ever be enough for everyone in the US to even have 0.1 of them, let alone people in the world.

I'm hoping to sell my bitcoins when they'll pay off my mortgage and not before.  Hopefully that happens before I pay it off myself in the year 2031.  If they never return a penny, at least I got to be a part of something I believe in.

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June 29, 2011, 12:35:10 AM
 #22

When was the last time you walked into a store and bought something with some gold? Gold isn't a currency, it's a commodity. For now bitcoins walk the line between currency and commodity, but there are some vendors accepting bitcoins as payment, giving it more claim to currency than gold at least.

Using absolute $ values I have used gold for more transactions than dollars for the past three years via GoldMoney. I would prefer to use Bitcoin though as I think it is a superior transactional currency to GoldMoney.

The way I see it they are complementary currencies. Gold is for transporting value over time and Bitcoins for transporting value over distance. This is no different from other bi-commodity currency systems like cattle and salt; gold and silver; etc.

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June 29, 2011, 03:12:28 PM
 #23

simple: any time when i reach the break-even point on my hardware and its above 15 or 20 dollar each

then all the BTC after that is PROFIT Cheesy
not taking in electricity for sake of simplicity right now Smiley

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June 29, 2011, 03:20:43 PM
 #24

49.94
Palindromes ftw

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
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June 30, 2011, 08:39:36 AM
 #25

I'm holding until after the hyperinflation hits, and maybe not even then.

This is what I'm thinking.  I don't see why anyone would sell before 2016 unless:  A) They're greedy and mine simply to make a quick buck (this never works out).  B) They're poor and $20 is a lot of money to them, in which case they shouldn't be mining bitcoins in the first place, they should be finding a job.  C) They don't know anything about bitcoins and have no clue that there won't ever be enough for everyone in the US to even have 0.1 of them, let alone people in the world.

I'm hoping to sell my bitcoins when they'll pay off my mortgage and not before.  Hopefully that happens before I pay it off myself in the year 2031.  If they never return a penny, at least I got to be a part of something I believe in.

Just saying here, if no one used bitcoins right now, then there'd be no market for them. Hoarders cause the money to stop flowing, meaning it'd be a competition to mine, and then what? No one would want to sell their bitcoins for less than 200 USD, but if prices went that high, everyone would sell sell sell..and then? Prices drop. It's actually FUNNY how you want to crash the entire market, calling those who currently spend their coins greedy/stupid.

It's a cycle with me:
Mine bitcoins -> Sell bitcoins -> Buy more hardware -> Repeat.

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June 30, 2011, 08:55:22 AM
 #26

After seeing what a 500,000 BTC selloff did to the market, I can tell you this:

There will soon be 7,000,000 bitcoins in existence.

many of those are held by miners waiting to cash in to pay off their hardware, and many others that still need a few hundred $ a month to cover the power bill.

These people are waiting at just about every $5 increment to sell.


So, before you EVER see the BTC hit $25 again, you can bet there will be a flood of BTCs being sold once it hits $20.

Then the value will drop to near $15 again, until the market can absorb all those sales.

Then you will see another "aftershock" once it climbs back to 20.

Now you will find yourself waiting for it to climb to $25, and the market flood starts all over.


I've invested in mining hardware, so I want to see the price climb too, but I don't see how the BTC could realistically hit $30 again before the end of the year.


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June 30, 2011, 09:26:56 AM
 #27

30USD

If I helped and You do wanna thank:
1FoiQYVPtUwWWnrYe1oYV3GCtJP8YBe1fv
Feel free to PM if you're in a need of any help
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June 30, 2011, 09:46:22 AM
 #28

Whatever they're worth in 5 - 6 years.
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June 30, 2011, 11:04:07 AM
 #29

Not sure. Right now, I really, really need money, so I may have to sell pretty low once I get some bitcoins. But if I wasn't in such a desperate need for money, I'd probably sell half at $30 and keep the other half in hopes of the price going even higher.

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June 30, 2011, 11:08:28 AM
 #30

$50
OgNasty
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June 30, 2011, 03:12:27 PM
 #31

I don't see why anyone would sell before 2016 unless:  A) They're greedy and mine simply to make a quick buck (this never works out).  B) They're poor and $20 is a lot of money to them, in which case they shouldn't be mining bitcoins in the first place, they should be finding a job.  C) They don't know anything about bitcoins and have no clue that there won't ever be enough for everyone in the US to even have 0.1 of them, let alone people in the world.

It's actually FUNNY how you want to crash the entire market, calling those who currently spend their coins greedy/stupid.

It's a cycle with me:
Mine bitcoins -> Sell bitcoins -> Buy more hardware -> Repeat.

With your cycle, the only winners are the hardware companies and the people who will end up buying your hardware for dirt cheap on ebay in the end.

I called people who currently are selling greedy, poor or stupid.  I believe that is a true statement.  Since you left out the poor and you're hoping to stockpile hardware, I'd say that's probably the category you're in, as people who have money didn't get there wasting it on stockpiling depreciating assets.  You're obviously greedy as well, due to always wanting more hardware to get more hashing power.  Finally, I'd say you're even a little stupid because your plan only raises the difficulty for everyone making you an enemy to miners.  I hope that is explained well enough for you to understand.

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Stephen Reed


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July 05, 2011, 03:06:33 AM
 #32

I liquidated my 12 month hoard in various trades at around $15.5.  I'm also now selling my mined bitcoins at market.
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July 05, 2011, 03:31:48 AM
 #33

100USD per BTC = awesomeness = instant payout = wakeupi'mdreaming

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V4Vendettas
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July 05, 2011, 09:14:30 AM
 #34

Hmmm tough one this.
Just getting into this mining lark.

Going to sell enough each month to cover cost I think for sure. Maybe my van insurance and some fuel hmm and some food....but rest will hoard I think. Im not going to hold out like you $45 guys and up tho.


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July 05, 2011, 06:38:16 PM
 #35

Hmmm tough one this.
Just getting into this mining lark.

Going to sell enough each month to cover cost I think for sure. Maybe my van insurance and some fuel hmm and some food....but rest will hoard I think. Im not going to hold out like you $45 guys and up tho.



Ouch, I doubt we'll ever see $31 any time soon. I'm getting out now before it hits $1.

AngelusWebDesign
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July 05, 2011, 06:52:07 PM
 #36

It's going deep into the $11 range now -- doesn't look like much support there either.
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July 05, 2011, 10:22:01 PM
 #37

Ah well I'm not one panic I can take advantage of the situation either way.

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July 06, 2011, 01:04:26 AM
 #38

$20.  It'll be quite a long time (if ever) before that price is happening again.

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July 06, 2011, 06:31:53 AM
 #39

I would not do this at any particular market price. I would only do this if Bitcoin's fundamentals change negatively, or I desperately need cash. Neither seems very likely.

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July 06, 2011, 09:19:09 AM
 #40

30$+

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