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Author Topic: So, how many of you were hoping the price would fall off a cliff?  (Read 3617 times)
lemonginger
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June 27, 2011, 02:43:46 PM
 #21

I still think we will see a drop back into single digits sooner rather than later.
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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June 27, 2011, 02:46:09 PM
 #22

I still think we will see a drop back into single digits sooner rather than later.
Your name reflects your posts lol. When I think of those two things my mouth throws up.

EDIT: I'm a miner, I won't sell my bitcoins for less that $10 EVER. Because then if I did I would be loosing some serious money. I'm already almost breaking even at these current rates, we need it to go up to about 35 and stay there for a few weeks so it can go back to being fair for the miners. I think we control the market for the most part, but right now we all need money for so many things that we are sucking out of the system, but once all our things are paid off, and we are all making money we will defiantly put money right back into the economy, and use the help of the new-age "littlepeople" so hence we create new "jobs". We're job creators of the future, which is what the government wants right ?

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June 27, 2011, 02:51:54 PM
 #23

I still think we will see a drop back into single digits sooner rather than later.

The $10 psychological barrier is big... But I think it's probable that we'll see $11 - $12 in the next couple of days. I don't think the big sell-off has even started yet. A lot of miners out there who need to pay their installments. Smiley

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June 27, 2011, 03:06:00 PM
 #24

I knew it wasn't going to happen because of the 10 time goxings.

Had the site opened up 24 or 48 hours after it closed, we would have definitely seen it.



Time heals all wounds.

Love how this thread was 'allowed', but you couldn't let me crow about 17.00+ prices? You're absolutely mental.

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June 27, 2011, 03:41:57 PM
 #25

I was sitting on $13, sad it didn't happen that way.  However, as someone pointed out - the end result is a positive for Bitcoin.

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Sannyasi
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June 27, 2011, 03:48:12 PM
 #26

if it fell off a cliff...... it'd die.......



on a more serious note,i hoped it'd drop temporarily. if it was the ONLY market it would probably have gotten all crazy like that but who the hell is going to sell off for 10 or even 15 when they could just send their funds to another trading site to sell or sell at whatever people will pay at mtgox and run with their money. anything beyond 'hoping' it will drop is irrational thinking IMO

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elggawf
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June 27, 2011, 05:54:37 PM
 #27

I was hoping for a big tank then a recovery so I could cash in.

I saw it dip to $14 and what I thought was a recovery, I bought in on TradeHill at ~$15 and rode it up a bit before jumping off again at ~$17. Could have held out for almost $18 in retrospect, but I didn't want to stay up and I hate leaving open orders up overnight.

It looks like the chumps who react emotionally and violently and give huge profits to everyone else are mostly gone, so I think this turmoil's been a pretty good thing for Bitcoin. It's a whole lot more enticing for a merchant to see something keep it's market value than to buy a ticket to a roller-coaster that'll make an astronaut puke.

^_^
lemonginger
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June 27, 2011, 06:22:45 PM
 #28

EDIT: I'm a miner, I won't sell my bitcoins for less that $10 EVER. Because then if I did I would be loosing some serious money. I'm already almost breaking even at these current rates, we need it to go up to about 35 and stay there for a few weeks so it can go back to being fair for the miners. I think we control the market for the most part, but right now we all need money for so many things that we are sucking out of the system, but once all our things are paid off, and we are all making money we will defiantly put money right back into the economy, and use the help of the new-age "littlepeople" so hence we create new "jobs". We're job creators of the future, which is what the government wants right ?

You realize that the price of bitcoins is irrelevant to what is "fair" for miners right? Difficulty adjusts so that if mining becomes unfair and miners drop out, mining will become profitable again. Price increases, more miners add equipment, difficulty rises mining is less profitable. In any case, at some point in the future it is likely that mining will only be profitable (no matter what price bitcoins are) to people with economies of scale, cheap electricity and/or unpaid for resources (botnets and the like)

Just because you won't sell your coins below $10, doesn't mean others won't.

Personally, I'd rather see stability than either big price increases or decreases, but I think we likely have months/years before that is the case.
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June 27, 2011, 06:37:01 PM
 #29

BTC Economist, your trolling has been low quality and repetitive lately. We demand higher quality and more entertaining trolling.

here here!  Cheesy

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June 27, 2011, 06:38:22 PM
 #30

It doesn't matter what I thought -- I still don't have my Mt. Gox account up and running yet.

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KMBTC11
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June 27, 2011, 06:43:28 PM
 #31

I picked up a few coins at $14.  I had orders in $0.50 increments roughly between $7-$14 and one $5 order at $0.013.  Slept well. 

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June 27, 2011, 06:51:15 PM
 #32

I was one of the first being able to place bids on gox when it re-launched.

My order was 1000 coins @ 0.1 each, just in case Smiley and I didn't want to be too greedy:P

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