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Author Topic: $150 by next week.  (Read 3162 times)
bitfair
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June 20, 2013, 11:51:15 PM
 #21

Man people in this forum are overly optimistic.

To me Gox suspending USD cash withdrawals is a bad thing.

Who's going to want to buy bitcoin when you can't even get your money out again. People buying to sell are only going to cause a large amount of arbitrage between the places where they're selling. It might raise the price a bit, but probably not that much.

I find the market reaction to the news very interesting: judging by the price increase on Gox, BTC is apparently accepted as a "safe-haven" in this particular situation - and BTC being considered a "safe-haven" is quite novel and interesting. It means that many of the advantages of BTC are so obvious to the buyers (free movement of funds, no freezing, etc.) that they outweigh the risks (volatility, etc.). A sign of some maturity, perhaps?
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June 21, 2013, 12:14:42 AM
 #22

I find the market reaction to the news very interesting: judging by the price increase on Gox, BTC is apparently accepted as a "safe-haven" in this particular situation - and BTC being considered a "safe-haven" is quite novel and interesting. It means that many of the advantages of BTC are so obvious to the buyers (free movement of funds, no freezing, etc.) that they outweigh the risks (volatility, etc.). A sign of some maturity, perhaps?
My impression is that people are buying BTC purely so that they can move their money out of Gox, and that once withdrawn, those bitcoins are getting deposited straight into another exchange to be sold. Just as the price at Mt. Gox has been going up since this announcement (due to a glut of immovable USD), the price at Bitstamp has been going down (due to people's dry powder being trapped on Gox).

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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June 21, 2013, 12:24:41 AM
 #23

sorry wrong thread...
i thought i saw adam somewhere

Grin

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June 21, 2013, 12:41:14 AM
 #24

Calling it.
Wishful thinking..lol

Oracol Xor-Stay tuned for ICO info www.oracol.mobi
bitfair
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June 21, 2013, 01:16:33 AM
 #25

I find the market reaction to the news very interesting: judging by the price increase on Gox, BTC is apparently accepted as a "safe-haven" in this particular situation - and BTC being considered a "safe-haven" is quite novel and interesting. It means that many of the advantages of BTC are so obvious to the buyers (free movement of funds, no freezing, etc.) that they outweigh the risks (volatility, etc.). A sign of some maturity, perhaps?
My impression is that people are buying BTC purely so that they can move their money out of Gox, and that once withdrawn, those bitcoins are getting deposited straight into another exchange to be sold. Just as the price at Mt. Gox has been going up since this announcement (due to a glut of immovable USD), the price at Bitstamp has been going down (due to people's dry powder being trapped on Gox).

Absolutely agree, that makes perfect sense. Still plays on some of the most obvious strengths of BTC, though: unfreezable funds and near-instant transactions.
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September 04, 2013, 09:02:49 PM
 #26

Perhaps this next week.

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September 05, 2013, 02:27:04 AM
 #27

Perhaps this next week.

Only $23 USD to go, and we're golden.
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