Cheap Coins

[Nightowlace]

So I hear "cheap coins" thrown around here a lot and I'd like to know what is a cheap coin?
If you are using Bitcoin as a currency the price of items reflects the value of BTC so therefore if a Bitcoin was $1,000,000 items your purchasing regularly would then cost Satoshis. So cheap coins doesn't apply right?
If you are using BTC as a store of value you wouldn't want cheap coins because that shows volatility and you would rather see long term growth and wide adoption. So again cheap coins wouldn't apply here?
If you are a new comer to BTC and one day you see $100 coins and the next day you see $50 coins well that would just scare you away. So do you want cheap coins here?

I would venture to say that most of the people on this forum are not day trading 100s even 1000s of coins to where a 20-30% fluctuating market would result in making thousands of dollars in a matter of hours. If you are this person I can clearly see your logic behind wanting this kind of volatility.

For everyone else, what's a cheap coin and why do you want them?

Me personally I would like to see a stable Bitcoin around $50 with a slow gradual growth. It is a solid price to where miners can still make back their investment. It allows "noobs" to comfortably enter the market because the mentality of buying partial Bitcoins isn't there yet. It is also a great price to grow the economy of Bitcoin.

[lucas.sev]

So I hear "cheap coins" thrown around here a lot and I'd like to know what is a cheap coin?
If you are using Bitcoin as a currency the price of items reflects the value of BTC so therefore if a Bitcoin was $1,000,000 items your purchasing regularly would then cost Satoshis. So cheap coins doesn't apply right?
If you are using BTC as a store of value you wouldn't want cheap coins because that shows volatility and you would rather see long term growth and wide adoption. So again cheap coins wouldn't apply here?
If you are a new comer to BTC and one day you see $100 coins and the next day you see $50 coins well that would just scare you away. So do you want cheap coins here?

I would venture to say that most of the people on this forum are not day trading 100s even 1000s of coins to where a 20-30% fluctuating market would result in making thousands of dollars in a matter of hours. If you are this person I can clearly see your logic behind wanting this kind of volatility.

For everyone else, what's a cheap coin and why do you want them?

Me personally I would like to see a stable Bitcoin around $50 with a slow gradual growth. It is a solid price to where miners can still make back their investment. It allows "noobs" to comfortably enter the market because the mentality of buying partial Bitcoins isn't there yet. It is also a great price to grow the economy of Bitcoin.

By cheap coin people mean "end of the bubble, back to real normal"

[Jozzaboy]

I think people want to see capitulation from the end of our exponential growth over the last 5 months. It is uneasy times to invest heavily in Bitcoin when the value may very well half over the next week if the market decides so.

[Nightowlace]

I think people want to see capitulation from the end of our exponential growth over the last 5 months. It is uneasy times to invest heavily in Bitcoin when the value may very well half over the next week if the market decides so.

I think we are there with the exception of some big players still playing their hand against the weak minded investors. Don't you?

[RyNinDaCleM]

I think people want to see capitulation from the end of our exponential growth over the last 5 months. It is uneasy times to invest heavily in Bitcoin when the value may very well half over the next week if the market decides so.

I think we are there with the exception of some big players still playing their hand against the weak minded investors. Don't you?

We have not seen capitulation yet!

[Jozzaboy]

I think people want to see capitulation from the end of our exponential growth over the last 5 months. It is uneasy times to invest heavily in Bitcoin when the value may very well half over the next week if the market decides so.

I think we are there with the exception of some big players still playing their hand against the weak minded investors. Don't you?

We have not seen capitulation yet!

Is it possible... that we won't?

[dnaleor]

we should stop metioning "Bitcoin" in the media and instead using "x-bit" as currency:
XBT is the semi-official abbreviation of bitcoin (check xe.com)

and to solve the problem of buying fractional bitcoins, we should use 1 BTC = 1000000 XBT
=> 1 XBT = 100 sat.
Every normal currency has 100 cents, penny's etc

So if we use 1 x-bit that equals 100 satoshi's, we will have solved this problem

people will be happy to buy 100 x-bit at 0.01 USD

[lucas.sev]

we should stop metioning "Bitcoin" in the media and instead using "x-bit" as currency:
XBT is the semi-official abbreviation of bitcoin (check xe.com)

and to solve the problem of buying fractional bitcoins, we should use 1 BTC = 1000000 XBT
=> 1 XBT = 100 sat.
Every normal currency has 100 cents, penny's etc

So if we use 1 x-bit that equals 100 satoshi's, we will have solved this problem

people will be happy to buy 100 x-bit at 0.01 USD

maybe thats because of mt.goX?

[Nightowlace]

I think people want to see capitulation from the end of our exponential growth over the last 5 months. It is uneasy times to invest heavily in Bitcoin when the value may very well half over the next week if the market decides so.

I think we are there with the exception of some big players still playing their hand against the weak minded investors. Don't you?

We have not seen capitulation yet!

Is it possible... that we won't?

^^

[Frozenlock]

we should stop metioning "Bitcoin" in the media and instead using "x-bit" as currency:
XBT is the semi-official abbreviation of bitcoin (check xe.com)

BTC is the semi-official abbreviation of Bitcoin. Check everywhere else.

and to solve the problem of buying fractional bitcoins, we should use 1 BTC = 1000000 XBT

No, we should use the metric system.
1 BTC = 1000 mBTC

[wachtwoord]

No, we should use the metric system.
1 BTC = 1000 mBTC

When in doubt, always use the metric system!

[dexX7]

we should stop metioning "Bitcoin" in the media and instead using "x-bit" as currency:
XBT is the semi-official abbreviation of bitcoin (check xe.com)

We should at first find an appropriate abbreviation in the corresponding threads. While I like XBT, I think a statements like "I bought xxx for 10000000 XBT" is almost as bad as "I bought xxx for 0.0023 BTC".


OP is correct. I don't want cheap coins, because I want to see Bitcoin rising. Nevertheless, it's all relative. Compared to earlier this year and last year and before, 100 isn't cheap but damn expensive. Right now I'd say "95 is pretty cheap, 70 is crazy cheap and I'd ship in all I could mobilize, 50?! Fuck, this is almost the end!", but as the price will change, the perception about cheap coins will do so, too.

What people always want though, is buying in "just a bit lower than right now".

[BitPirate]

I think people want to see capitulation from the end of our exponential growth over the last 5 months. It is uneasy times to invest heavily in Bitcoin when the value may very well half over the next week if the market decides so.

I think we are there with the exception of some big players still playing their hand against the weak minded investors. Don't you?

We have not seen capitulation yet!

Yawn. This is getting old, fast. Things do not need to get worse in order to better. Anything can (and will) happen.

[Bitcoin BEAR]

I think people want to see capitulation from the end of our exponential growth over the last 5 months. It is uneasy times to invest heavily in Bitcoin when the value may very well half over the next week if the market decides so.

I think we are there with the exception of some big players still playing their hand against the weak minded investors. Don't you?

We have not seen capitulation yet!

Yawn...

I agree! All the talk about the floor being $150, $120, $110,...etc. It is tiring following you  
There is no floor! That rug you are standing on, has just empty space below it. Don't walk too heavily!

[RyNinDaCleM]

I think people want to see capitulation from the end of our exponential growth over the last 5 months. It is uneasy times to invest heavily in Bitcoin when the value may very well half over the next week if the market decides so.

I think we are there with the exception of some big players still playing their hand against the weak minded investors. Don't you?

We have not seen capitulation yet!

Yawn. This is getting old, fast. Things do not need to get worse in order to better. Anything can (and will) happen.

Hey, I was just pointing out a fact. Yes, anything CAN happen, but that doesn't change the fact that capitulation hasn't happened yet  

[ElectricMucus]

Cheap coins pretty much always is a statement to be proud of ones bullishness, and since we all now the price of Bitcoins is going up, uP, UP that means any price lower than the previous one are cheap coins.

Actually if somebody ever says cheap coins in a non-sarcastic manner he shouldn't be taken serious by anybody outside the Bitcoin Cult.

[wachtwoord]

Actually if somebody ever says cheap coins in a non-sarcastic manner he shouldn't be taken serious by anybody outside the Bitcoin Cult.

Cheap coins!

[Nightowlace]

I think people want to see capitulation from the end of our exponential growth over the last 5 months. It is uneasy times to invest heavily in Bitcoin when the value may very well half over the next week if the market decides so.

I think we are there with the exception of some big players still playing their hand against the weak minded investors. Don't you?

We have not seen capitulation yet!

Yawn. This is getting old, fast. Things do not need to get worse in order to better. Anything can (and will) happen.

I agree things don't have to get worse before they get better, however I also believe stability is key. They constant 20-30% fluctuation scares potential newcomers. I think a steady bitcoin with a slow gradual increase would be nice.
It would be nice to get rid of all the day trading all together. I can't wait for the day that the BTC economy is flourishing to where people are finding new and better ways to earn/make BTC without having to trade it.

[chriswilmer]

I think people want to see capitulation from the end of our exponential growth over the last 5 months. It is uneasy times to invest heavily in Bitcoin when the value may very well half over the next week if the market decides so.

I think we are there with the exception of some big players still playing their hand against the weak minded investors. Don't you?

We have not seen capitulation yet!

Yawn. This is getting old, fast. Things do not need to get worse in order to better. Anything can (and will) happen.

This!

[damnek]

It would be nice to get rid of all the day trading all together. I can't wait for the day that the BTC economy is flourishing to where people are finding new and better ways to earn/make BTC without having to trade it.

This statement is ridiculous. The opposite is true, bitcoin needs liquidity, which is provided by traders.