Every Sing Friday price drops.

[Bowjob]

It used to be $130, then I tell myself.. it's just the weekend dip, then $120, now it's $110 this week. $100 next week?

Just a heads up. *Single

[Bowjob]

bump. that was faster than expected.

[Bowjob]

looks like i was right

[Birdy]

Only 10 Fridays left, after that you will have to pay people to take your Bitcoins!
Negative Bitcoins here we go!

But if Horo teached you economics, you know this will not happen :3

[ehoffman]

10 Fridays and we may be able to use CPU miners again

Edit: Oh, and by the way...  probably 10 Fridays and I'll finally receive by BFL ASIC... hehe  Calculate the time to ROI now!

[JimboToronto]

10 Fridays and we may be able to use CPU miners again

Edit: Oh, and by the way...  probably 10 Fridays and I'll finally receive by BFL ASIC... hehe  Calculate the time to ROI now!

?

The cash value of a 25BTC block reward going down will somehow  make GPU mining profitable again?

I was hoping that a return to pre-bubble-burst prices would increase profitability enough to offset the wait for my BFL ASICs. Still might happen.

At least I got my order in before they doubled their prices. At the peak of the bubble my estimated ROI time was 3 days.

[BitPirate]

And every time, the price decreases a little, and the volume increases A LOT, with many willing buyers to be found.

Shortly thereafter the price almost-recovers, and the volume dwindles as everyone is afraid of another dump.

None of this is voodoo, or an "inevitable" slide to a tiny number.. it is simply the natural reaction of a market scared by manipulative dumpers.

When people realise that things aren't actually that bad, confidence will return and we will be able to trade higher volumes at higher prices

This is Bitcoin, so all of this will probably happen faster than we expect.

[jacktarli]

People calm down this is normal. This happens with every currency virtual or real price go up and down. We buy low and sell high simple 
The price may go down, but I am pretty sure after a while it will go back up.

[antimattercrusader]

No, it won't. The is the end. (Of everything). Myans were right but the date was wrong. We only have days left, sell your bitcoin while you still can you can enjoy your fiat in the afterlife.

[notme]

10 Fridays and we may be able to use CPU miners again

Edit: Oh, and by the way...  probably 10 Fridays and I'll finally receive by BFL ASIC... hehe  Calculate the time to ROI now!

?

The cash value of a 25BTC block reward going down will somehow  make GPU mining profitable again?

I was hoping that a return to pre-bubble-burst prices would increase profitability enough to offset the wait for my BFL ASICs. Still might happen.

At least I got my order in before they doubled their prices. At the peak of the bubble my estimated ROI time was 3 days.

As price falls, those with narrow profit margins drop out of the mining game.  This results in lower difficulty.  Obviously, this won't cause a regression to older technologies as ehoffman suggests, but it does increase the profitability for the most efficient miners in bitcoin terms since their share of the pie goes up.

[JimboToronto]

it does increase the profitability for the most efficient miners in bitcoin terms

Yes, I can see a better return in bitcoins, but it's the cash value which determines profitability IMO.

Obviously earning a 50BTC block reward in 2012 with a cash value of about $5 per BTC for a total of $250 was nowhere near as profitable as winning a 25BTC block reward when bitcoins were worth $200 earlier this spring for a total of $5000.

[notme]

it does increase the profitability for the most efficient miners in bitcoin terms

Yes, I can see a better return in bitcoins, but it's the cash value which determines profitability IMO.

Obviously earning a 50BTC block reward in 2012 with a cash value of about $5 per BTC for a total of $250 was nowhere near as profitable as winning a 25BTC block reward when bitcoins were worth $200 earlier this spring for a total of $5000.

Many miners are willing to wait until the bear market ends to take their profits.

[JimboToronto]

Many miners are willing to wait until the bear market ends to take their profits.

Indeed, unless they have financing payments that won't wait. I wonder what percentage of ASIC purchases are done on credit.

[BitcoinAshley]

Oh man, I feel sorry for the folks that bought BFL ASICs on credit.

And every time, the price decreases a little, and the volume increases A LOT, with many willing buyers to be found.

Shortly thereafter the price almost-recovers, and the volume dwindles as everyone is afraid of another dump.

None of this is voodoo, or an "inevitable" slide to a tiny number.. it is simply the natural reaction of a market scared by manipulative dumpers.

When people realise that things aren't actually that bad, confidence will return and we will be able to trade higher volumes at higher prices

This is Bitcoin, so all of this will probably happen faster than we expect.

+1

Those dumps SCARE people, but they aren't even a representation of all the traders, it's just a handful of really concentrated positions. Everyone else wants up uP UP!

[lucas.sev]

And every time, the price decreases a little, and the volume increases A LOT, with many willing buyers to be found.

Is a single buyer who was responsible for recovery by executing a single buy with 10USD slippage considered "many willing buyers"?

[mgio]

looks like i was right

Price didn't drop today. It's been pretty much constant the past 16 hours.

[mvidetto]

People who want the price of BTC to go up are hurting the long term viability of bitcoin.  This is because they buy bitcoins and then hold them until the price goes up which removes bitcoins from circulation.  Obviously for bitcoin to be a true currency it needs to be traded like others and have long term price stability.  Bitcoins going up up up in value is terrible for bitcoin...

[MAbtc]

People who want the price of BTC to go up are hurting the long term viability of bitcoin.  This is because they buy bitcoins and then hold them until the price goes up which removes bitcoins from circulation.  Obviously for bitcoin to be a true currency it needs to be traded like others and have long term price stability.  Bitcoins going up up up in value is terrible for bitcoin...

This seems to imply that "currency" is the only (or even principle) use of bitcoin. Not so. I'm happy to see some cheaper coins, though.

[JimboToronto]

People who want the price of BTC to go up are hurting the long term viability of bitcoin.  This is because they buy bitcoins and then hold them until the price goes up which removes bitcoins from circulation.  Obviously for bitcoin to be a true currency it needs to be traded like others and have long term price stability.  Bitcoins going up up up in value is terrible for bitcoin...

Not everybody either circulates or hoards all their bitcoins.

I hoard about 80% of mine in cold storage and circulate the rest. It's probably about the same ratio with my dollars.

[jubalix]

it was what $12 6 months ago near that I recall just recently people thinking it would never go over $50 for ages