Who is buying above $13? Manipulation or Market?

[Edward50]

The bitcoin has consistently demonstrated that it will go lower and continue to reach new lows. Yet, it is currently trading close to $15 dollars.

Who would be buying at these prices?

What i think is either speculators are only buying to try and sell at a small spread, so they do not care what the price is, as they will sell very short term.

Manipulators are trying to maintain price and are trying to keep the price high so that they can build confidence in bitcoin and sell the majority of their bitcoins higher?

Your average investor just thinks bitcoins are worth it, and are buying them up.

I can not see the average investor buying bitcoins at this price, knowing that it will most likely continue a downward trend, and they could also wait a few days and buy low.

So what is going on? What is causing the price to continue going higher after it has been hitting new lows? Or how I would like to put it, who is dumb enough to buy at $15 now, when it was just $11 yesterday, and will probably hit that again very shortly?

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[MiningBuddy]

Or how I would like to put it, who is dumb enough to buy at $15 now, when it was just $11 yesterday, and will probably hit that again very shortly?

Who is dumb enough to sell at $15 when the price was over $30 not so long ago?

[jonny]

Well if you have bitcoins and you think 15 is way over market value, why not offload? Then buy them back for 11 in a few days time...

[stic.man]

maybe incoming money combined with interesting and better media coverage brought the bulls.

People hustling to get money in during the fall to 11 yesterday finally had their funds by the afternoon and bought bought bought when they saw a decent wall at 10?

[kokjo]

yesterday was panic selling. i did buy at 12. now its going back to normal 15+ possibly a new all time high. then im selling the ons i buyed at 12

you noob just don't understand whats panic, and whats is normal.

[Cluster2k]

Or how I would like to put it, who is dumb enough to buy at $15 now, when it was just $11 yesterday, and will probably hit that again very shortly?

Who is dumb enough to sell at $15 when the price was over $30 not so long ago?

Who is dumb enough to believe the $30 spike was based on genuine fundamentals?  The price crashed from $30 to $10 within 2 days.  That is not a sign of a healthy and rational market.  It was based on new speculators piling in.  "Hey, the price is going up.  Time to buy more!"  I hope many people got burned at the $30 price.  It's not to sound mean, but believing bitcoin's price should follow an exponential curve is very silly.  By the end of the year one bitcoin would buy a nice car.  Everyone on this forum would be a millionaire.  Fantastic.

[MKW2012]

All trends are eventually broken. We'll see if it's a legit break out or fake out. I'm just waiting to see more clarity.

[Tronlet]

The bitcoin has consistently demonstrated that it will go lower and continue to reach new lows. Yet, it is currently trading close to $15 dollars.

Here is where I stopped reading.

[Vladimir]

The bitcoin has consistently demonstrated that it will go lower and continue to reach new lows. Yet, it is currently trading close to $15 dollars.

Here is where I stopped reading.

It is where I thought that he is trying to spoof it or be ironical. Next few sentences, though, demonstrated that he was probably serious.

Somebody has not seen yet panic buying, I guess.

[5grainsilver]

yesterday was panic selling. i did buy at 12. now its going back to normal 15+ possibly a new all time high. then im selling the ons i buyed at 12

you noob just don't understand whats panic, and whats is normal.

15$ is normal?  Since last week?  Yesterday?  1$ was normal not too long ago.  Normal is defined by how many more suckers are willing to buy in to this pyramid.  This thing fluctuates 20% like its nothing.  Bitcoin could go to .50 tomorrow.

[Vladimir]

Normal is defined by how many more suckers are willing to buy in to this pyramid.

Today's sucker could be tomorrow's genius.

[Jack of Diamonds]

yesterday was panic selling. i did buy at 12. now its going back to normal 15+ possibly a new all time high. then im selling the ons i buyed at 12

you noob just don't understand whats panic, and whats is normal.

15$ is normal?  Since last week?  Yesterday?  1$ was normal not too long ago.  Normal is defined by how many more suckers are willing to buy in to this pyramid.  This thing fluctuates 20% like its nothing.  Bitcoin could go to .50 tomorrow.

So why are you here?
Or is this another jealous unemployed bum who is mad he didn't buy coins when they were 0.02 a piece

[PseudoCode]

Isnt it funny how most of the posters predicting bitcoin's imminent destruction/devaulation nearly always seem to have been around for 20-50 posts ?

Latecomers hoping to scare people into selling so they can buy in cheaper ?  Sour Grapes ?  
If they're really so convinced that BTC is on the way down permanently, then why not just sell out, and piss off ?  

Why would they take the trouble to hang around crying doom ?   Ulterior Motives I suspect..  

or do the Trolls really have nothing better to do than watch graphs and cry chicken little at every dip ?  
Surely there is a Warcraft game out there that needs griefers, some IRC channels to spam or something ?

Wasnt there an options market I saw somewhere that you could go an put your money where your mouth is and stand by your predictions ?

If you're still here posting the-end-is-nigh posts after a while, you start to sound like a cracked record imo.

[bitebitebite]

 I bought at 15.7 on Saturday, perhaps a bit high for now. Probably will sell near there (missed 15.5) and play about.

[5grainsilver]

yesterday was panic selling. i did buy at 12. now its going back to normal 15+ possibly a new all time high. then im selling the ons i buyed at 12

you noob just don't understand whats panic, and whats is normal.

15$ is normal?  Since last week?  Yesterday?  1$ was normal not too long ahhgo.  Normal is defined by how many more suckers are willing to buy in to this pyramid.  This thing fluctuates 20% like its nothing.  Bitcoin could go to .50 tomorrow.

So why are you here?
Or is this another jealous unemployed bum who is mad he didn't buy coins when they were 0.02 a piece

As an active trader in real markets I am finding this a great way to view the thought process of the losing trader and bubble sucker.  I've never seen it presented so clearly before.

I wish there was a real options market on this.  I would put most of my money into long term puts right now. 

I have no motives or money on this,  just bored at work and this is very entertaining.

[SgtSpike]

Isnt it funny how most of the posters predicting bitcoin's imminent destruction/devaulation nearly always seem to have been around for 20-50 posts ?

Latecomers hoping to scare people into selling so they can buy in cheaper ?  Sour Grapes ?  
If they're really so convinced that BTC is on the way down permanently, then why not just sell out, and piss off ?  

Why would they take the trouble to hang around crying doom ?   Ulterior Motives I suspect..  

or do the Trolls really have nothing better to do than watch graphs and cry chicken little at every dip ?  
Surely there is a Warcraft game out there that needs griefers, some IRC channels to spam or something ?

Wasnt there an options market I saw somewhere that you could go an put your money where your mouth is and stand by your predictions ?

If you're still here posting the-end-is-nigh posts after a while, you start to sound like a cracked record imo.

Haha, so true...

The OP:  Date Registered:   June 09, 2011, 11:48:20 pm

[Tronlet]

Normal is defined by how many more suckers are willing to buy in to this pyramid.  This thing fluctuates 20% like its nothing.  Bitcoin could go to .50 tomorrow.

So wait, you say "pyramid", but then what you say afterwards doesn't describe a pyramid at all.

[Jack of Diamonds]

I wish there was a real options market on this.  I would put most of my money into long term puts right now.  

There is.
http://www.glbse.com is probably the best, bitoption.org is just starting out

You can buy long term futures and soon options for BTC, and sites like Mt. Gox and Camp. BX are adding support for it if you read their websites.
The fact is, you can't analyze the bitcoin market. After you find out the options exist, you wont have the guts to do anything.

The price is very volatile, the market is too small at this point and influenced by bots and occassional large buy orders/offloading of hoarders

[5grainsilver]

GLBSE is not a real exchange.  There is no volume.  It is not regulated by any government organization.  My expectation of receiving payout should my contract become profitable is pretty damn low.  The site owner has a link where you can donate to him lol.  That is not a professional exchange.  What are the qualifications of the person running it?  Who is running it?  Where is it based?  On the about me page it says the following:

"We Are The Market

Buy, sell, raise, lend, borrow, invest, the single market that does it all. Keep your bitcoin in one market, and instantly switch between different assets, currencies, shares, and bonds to take advantage of the largest bitcoin market.

    * Issue shares to raise capital
    * Pay dividends to shareholders
    * Put resolutions to shareholders and get their vote
    * Issue and sell bonds
    * Borrow and lend to the market
    * Make and recieve loan repayments
    * Issue futures contracts
    * Meta-trade on non listed companies (on other exchanges)
    * And trade all of the above with other traders on the market


Start Trading Now!

The exchange is currently under testing, but is being used, you may use at your own risk but be warned,you could lose your shirt ;-)"


That says nothing, except that the person running it is building this as they go and have no idea what they are doing. 


The fact that these are not the first questions people are asking when this site advertises, just shows how naive the bitcoin community is.  Here are some more good questions:

Who holds my deposit?  Who guarantees it?  Are my funds used for operating expenses?  (I bet they are)  Are my funds held in a segregated account?  In what currency?  How is that account being managed to hedge against currency and bitcoin value changes? 



You might not like what I am saying, but to completely write it off is ignorant.  I have a LOT of experience in gambling, trading, and business.  I've seen a lot of bubbles, I've seen people act CRAZY when they come into a lot of money or lose a lot in a short time.  Be smart.  Learn from the mistakes of others.  People behave in repeating patterns, especially in crowds and markets.  Have you studied the history of bubbles?  Might be a good idea.  If you are one of the ones that has come into a lot of money from this, be smart and diversify.  Acknowledge that there is a real chance that bitcoins could go down the toilet and take some of that money and put it into a different type of investment or business.  I'm sure the smart ones have already quietly done that. 

OK enough good advice.  I know most of you will completely write me off as an ignorant whatever you think I am.  Most people have to learn the hard way, that is just how people are. 

[5grainsilver]

Or how I would like to put it, who is dumb enough to buy at $15 now, when it was just $11 yesterday, and will probably hit that again very shortly?

Who is dumb enough to sell at $15 when the price was over $30 not so long ago?

Ah now this right here is classic loser trader mentality.  I don't mean that as an insult.  If you find yourself agreeing with this quote, you really need to do some research on how markets and bubbles work. 

[Gabi]

Basically edward is a troll and admitted it

"active real trader"? lawl

[kokjo]

GLBSE is not a real exchange.  There is no volume.  It is not regulated by any government organization.  My expectation of receiving payout should my contract become profitable is pretty damn low.  The site owner has a link where you can donate to him lol.  That is not a professional exchange.  What are the qualifications of the person running it?  Who is running it?  Where is it based?  On the about me page it says the following:

"We Are The Market

Buy, sell, raise, lend, borrow, invest, the single market that does it all. Keep your bitcoin in one market, and instantly switch between different assets, currencies, shares, and bonds to take advantage of the largest bitcoin market.

    * Issue shares to raise capital
    * Pay dividends to shareholders
    * Put resolutions to shareholders and get their vote
    * Issue and sell bonds
    * Borrow and lend to the market
    * Make and recieve loan repayments
    * Issue futures contracts
    * Meta-trade on non listed companies (on other exchanges)
    * And trade all of the above with other traders on the market


Start Trading Now!

The exchange is currently under testing, but is being used, you may use at your own risk but be warned,you could lose your shirt ;-)"


That says nothing, except that the person running it is building this as they go and have no idea what they are doing. 


The fact that these are not the first questions people are asking when this site advertises, just shows how naive the bitcoin community is.  Here are some more good questions:

Who holds my deposit?  Who guarantees it?  Are my funds used for operating expenses?  (I bet they are)  Are my funds held in a segregated account?  In what currency?  How is that account being managed to hedge against currency and bitcoin value changes? 



You might not like what I am saying, but to completely write it off is ignorant.  I have a LOT of experience in gambling, trading, and business.  I've seen a lot of bubbles, I've seen people act CRAZY when they come into a lot of money or lose a lot in a short time.  Be smart.  Learn from the mistakes of others.  People behave in repeating patterns, especially in crowds and markets.  Have you studied the history of bubbles?  Might be a good idea.  If you are one of the ones that has come into a lot of money from this, be smart and diversify.  Acknowledge that there is a real chance that bitcoins could go down the toilet and take some of that money and put it into a different type of investment or business.  I'm sure the smart ones have already quietly done that. 

OK enough good advice.  I know most of you will completely write me off as an ignorant whatever you think I am.  Most people have to learn the hard way, that is just how people are. 

Neferio is running glbse.com .

[PseudoCode]

Granting for now your hypothetical experience in market trading..

How many new products have you seen come on the market that have *anything* in common with Bitcoin ?

A Open Source, Cryptographically Secure, Decentralised, virtually-unstoppable, P2P World Spanning trade item that runs on Any operating system, computers, phones and has *unalterable* novel financial principles different to any currency in the history of the world hard coded into it ?

It wasnt even *possible* as little as 10 years ago..  Without widespread broadband internet and P2P networking, it wouldnt even get off the ground.   With those new technologies powering it however, the sky is the limit.

Any you think it will follow normal market patterns like any other pork-belly or megacorp-inc shares ?  

Ever hear of a disruptive technology ?  

Skype maybe ?  
Invented out of nowhere in 2003 (using that same P2P tech),
banned in China in 2005, Sold for 2.6 *Billion* in the same year
100 million users reached in 2006, just 3 years after startup.
sold again for 8.5 billion to microsoft, with 660 million users in 2011.
- from 0 to 8.5 billion dollars, 0 to 660 million users
.. in just 8 years.
.. and what is it ?   A cheaper to use Telephone Program.

What do you think Microsoft would pay to buy "Linux" (if they could) ?

And here we have an un-buyable, open source, P2P powered "currency" that could potentially revolutionise world-trade and you think your market experience says "its not going to happen" ?

Right.  Want to buy a Fax Machine ? - I hear they're the hot new tech for forward thinkers like yourself.

[kokjo]

Right.  Want to buy a Fax Machine ? - I hear they're the hot new tech for forward thinkers like yourself.

what is a Fax machine? some kind of gaming system?

[Jack of Diamonds]

What are the qualifications of the person running it?  Who is running it?  Where is it based?  On the about me page it says the following:

It's run by a doctorate-level MIT professor who has also been with bitcoin pretty much since the start.

You can find him on the forum under the name Nefario, he's one of the moderators.
http://forum.bitcoin.org/index.php?action=profile;u=3046

[kokjo]

What are the qualifications of the person running it?  Who is running it?  Where is it based?  On the about me page it says the following:

It's run by a doctorate-level professor who has also been with bitcoin pretty much since the start.

You can find him on the forum under the name NefariusNeferio, he's one of the moderators.

fixed.

[5grainsilver]

Granting for now your hypothetical experience in market trading..

How many new products have you seen come on the market that have *anything* in common with Bitcoin ?

A Open Source, Cryptographically Secure, Decentralised, virtually-unstoppable, P2P World Spanning trade item that runs on Any operating system, computers, phones and has *unalterable* novel financial principles different to any currency in the history of the world hard coded into it ?

It wasnt even *possible* as little as 10 years ago..  Without widespread broadband internet and P2P networking, it wouldnt even get off the ground.   With those new technologies powering it however, the sky is the limit.

Any you think it will follow normal market patterns like any other pork-belly or megacorp-inc shares ?  

Ever hear of a disruptive technology ?  

Skype maybe ?  
Invented out of nowhere in 2003 (using that same P2P tech),
banned in China in 2005, Sold for 2.6 *Billion* in the same year
100 million users reached in 2006, just 3 years after startup.
sold again for 8.5 billion to microsoft, with 660 million users in 2011.
- from 0 to 8.5 billion dollars, 0 to 660 million users
.. in just 8 years.
.. and what is it ?   A cheaper to use Telephone Program.

What do you think Microsoft would pay to buy "Linux" (if they could) ?

And here we have an un-buyable, open source, P2P powered "currency" that could potentially revolutionise world-trade and you think your market experience says "its not going to happen" ?

Right.  Want to buy a Fax Machine ? - I hear they're the hot new tech for forward thinkers like yourself.

You make some good points.   Believe me, as a merchant I do see the value of bitcoin.  My main point here is that there is a very real possibility that bitcoin could become worthless in the near future.  Cryptocurrency is an amazing new idea, I will give you that.  However, the fact is that governments run this world.  That is not going to change.  They could shut down bitcoin if they wanted to.  Do you really think they are going to let a P2P "currency" flourish?   They could track down those that are mining or processing blocks and fine them.  Seize their equipment and assets, including bitcoins.  They could make it illegal to own bitcoins.  Add some sort of legal risk to the equation and the bitcoin will collapse. 

Right now 99% of demand for bitcoins is speculation and black market related.  Name me one non-black or grey market product I can get a better deal on by converting real money to bitcoins and then purchasing in bitcoins?  I know the idea is that in the future the market will reach a critical mass and a real economy will be present.  The problem is, the day that that happens is the day the government shuts it down.  They want their taxes.  They want to track the flow of money so they can prevent money laundering. 

The bitcoin technology is open source.  A government or visa or a bank could take the technology and use it to implement their own system.  They could find some way to back it to remove the risk of price fluctuation.  They could make it easy and secure to convert back and forth to fiat currency.  It would be taxed, regulated, safe and legal.  That would crash the bitcoin.   

But back to present day reality.  This bubble is fueled by speculation and illegal activity.  New bitcoins come on the market every day.  The money will dry up and the bitcoin will go right back to where it came from.

[5grainsilver]

What are the qualifications of the person running it?  Who is running it?  Where is it based?  On the about me page it says the following:

It's run by a doctorate-level MIT professor who has also been with bitcoin pretty much since the start.

You can find him on the forum under the name Nefario, he's one of the moderators.
http://forum.bitcoin.org/index.php?action=profile;u=3046

Thanks for the info.  I'm sure he is a very smart person, but what are his experiences in running an exchange?  I would guess none, based on the website.  I would like to hear his answers to some of my questions especially regarding the handling of customer funds. 

[billyjoeallen]

yesterday was panic selling. i did buy at 12. now its going back to normal 15+ possibly a new all time high. then im selling the ons i buyed at 12

you noob just don't understand whats panic, and whats is normal.

15$ is normal?  Since last week?  Yesterday?  1$ was normal not too long ahhgo.  Normal is defined by how many more suckers are willing to buy in to this pyramid.  This thing fluctuates 20% like its nothing.  Bitcoin could go to .50 tomorrow.

So why are you here?
Or is this another jealous unemployed bum who is mad he didn't buy coins when they were 0.02 a piece

As an active trader in real markets I am finding this a great way to view the thought process of the losing trader and bubble sucker.  I've never seen it presented so clearly before.

I wish there was a real options market on this.  I would put most of my money into long term puts right now. 

I have no motives or money on this,  just bored at work and this is very entertaining.

Go to campbx.com and buy your puts, Pilgrim. Put your money where your mouth is. You can short on margin, even. Do it. I dare you. Otherwise, you are just flapping your labia.

[PseudoCode]

Your primary objection in that post seems to be "Its not going to happen, because Governments will stop it by making it illegal or inventing something better" ?

They will probably try at some stage (hence the example of China banning Skype).

I give them about a 10% chance of success in the long term..  
maybe a 50% chance of short-term supression/hold back if they go all out.

The "Authorities Winning" ?  Very Unlikely.

BitTorrent, Drugs, Piracy, Copyright, Alcohol, Gambling, Sex, Porn, Weapons, Budgets etc etc

Name *1* thing that a government has succesfully managed to stop when the people wanted it ?

Taxation ?  No problem, Income Taxes are a stupid idea anyway.. The paperwork required is ridiculous
If necessary, Taxation will shift into property, consumption and other tangible things..
as someone once said "You cant hide Real Estate in Cyberspace"

A competitor to Bitcoin ?  What are they going to offer ?  Safety ?  
Sure, for a 10% (more?) premium you can have that.  Thats what credit cards, Paypal etc do..  
People still give discounts for *cash* however.  Bitcoin is digital cash..

If you want safety, pay for and use another layer of "insurance" (which is all chargebacks really are) on top..  
It wont be too long before "Coinpal" starts for people to deal with unknown entities on "Coinbay" and the like

The fact that these services arent entrenched yet means nothing.  They will come - Im guessing the next 6-12 months if not sooner.

Bankcoin will have lower fees maybe ?  Not likely, You think they're going to build a 10 Terahash distributed computing network out of their own pocket (and pay the power bill ?) and not want to recoup that cost ?  *and* keep it up to date with constantly evolving power just to stay ahead of the worlds combined home-computers aggregate power ?

The existing Telecoms would love to have a product that competes cost effectively with Skype and makes them a profit..  Havent seen one yet..  and theyre not short of billions to try if they could see an opening.

OK Enough thumping..   I think understand your new objection..  "The powers that be wont let it happen" ?

Time will tell, but I really dont think they will have much a choice myself.

[5grainsilver]

yesterday was panic selling. i did buy at 12. now its going back to normal 15+ possibly a new all time high. then im selling the ons i buyed at 12

you noob just don't understand whats panic, and whats is normal.

15$ is normal?  Since last week?  Yesterday?  1$ was normal not too long ahhgo.  Normal is defined by how many more suckers are willing to buy in to this pyramid.  This thing fluctuates 20% like its nothing.  Bitcoin could go to .50 tomorrow.

So why are you here?
Or is this another jealous unemployed bum who is mad he didn't buy coins when they were 0.02 a piece

As an active trader in real markets I am finding this a great way to view the thought process of the losing trader and bubble sucker.  I've never seen it presented so clearly before.

I wish there was a real options market on this.  I would put most of my money into long term puts right now.  

I have no motives or money on this,  just bored at work and this is very entertaining.

Go to campbx.com and buy your puts, Pilgrim. Put your money where your mouth is. You can short on margin, even. Do it. I dare you. Otherwise, you are just flapping your labia.

OK I checked this site out too.  It looks even worse than the other exchange.  The front page has text misplaced.  It looks worse than a website I could have made with a wysiwyg editor.  It answers none of the important questions an exchange needs to answer.  Links don't work.  If the frontend is so unprofessional, why would anyone trust the backend or financial security of the exchange?  

On a similiar note to my last post, I acknowledge that bitcoin could probably survive government intervention.  The problem is that exchanges could not.  And service offering a way to turn bitcoins into dollars would be really easy to shut down.  That would make bitcoins unusable for most economic activity.  

[adaman]

yesterday was panic selling. i did buy at 12. now its going back to normal 15+ possibly a new all time high. then im selling the ons i buyed at 12

you noob just don't understand whats panic, and whats is normal.

15$ is normal?  Since last week?  Yesterday?  1$ was normal not too long ahhgo.  Normal is defined by how many more suckers are willing to buy in to this pyramid.  This thing fluctuates 20% like its nothing.  Bitcoin could go to .50 tomorrow.

So why are you here?
Or is this another jealous unemployed bum who is mad he didn't buy coins when they were 0.02 a piece

As an active trader in real markets I am finding this a great way to view the thought process of the losing trader and bubble sucker.  I've never seen it presented so clearly before.

I wish there was a real options market on this.  I would put most of my money into long term puts right now.  

I have no motives or money on this,  just bored at work and this is very entertaining.

Go to campbx.com and buy your puts, Pilgrim. Put your money where your mouth is. You can short on margin, even. Do it. I dare you. Otherwise, you are just flapping your labia.

OK I checked this site out too.  It looks even worse than the other exchange.  The front page has text misplaced.  It looks worse than a website I could have made with a wysiwyg editor.  It answers none of the important questions an exchange needs to answer.  Links don't work.  If the frontend is so unprofessional, why would anyone trust the backend or financial security of the exchange?  

On a similiar note to my last post, I acknowledge that bitcoin could probably survive government intervention.  The problem is that exchanges could not.  And service offering a way to turn bitcoins into dollars would be really easy to shut down.  That would make bitcoins unusable for most economic activity.  

I told NoScript in FF to allow all scripts on campbx.com and text displacement is gone. Also the links will work if you allow this site to run there scripts

[billyjoeallen]

yesterday was panic selling. i did buy at 12. now its going back to normal 15+ possibly a new all time high. then im selling the ons i buyed at 12

you noob just don't understand whats panic, and whats is normal.

15$ is normal?  Since last week?  Yesterday?  1$ was normal not too long ahhgo.  Normal is defined by how many more suckers are willing to buy in to this pyramid.  This thing fluctuates 20% like its nothing.  Bitcoin could go to .50 tomorrow.

So why are you here?
Or is this another jealous unemployed bum who is mad he didn't buy coins when they were 0.02 a piece

As an active trader in real markets I am finding this a great way to view the thought process of the losing trader and bubble sucker.  I've never seen it presented so clearly before.

I wish there was a real options market on this.  I would put most of my money into long term puts right now.  

I have no motives or money on this,  just bored at work and this is very entertaining.

Go to campbx.com and buy your puts, Pilgrim. Put your money where your mouth is. You can short on margin, even. Do it. I dare you. Otherwise, you are just flapping your labia.

OK I checked this site out too.  It looks even worse than the other exchange.  The front page has text misplaced.  It looks worse than a website I could have made with a wysiwyg editor.  It answers none of the important questions an exchange needs to answer.  Links don't work.  If the frontend is so unprofessional, why would anyone trust the backend or financial security of the exchange?  

On a similiar note to my last post, I acknowledge that bitcoin could probably survive government intervention.  The problem is that exchanges could not.  And service offering a way to turn bitcoins into dollars would be really easy to shut down.  That would make bitcoins unusable for most economic activity.  

You're not foolin' anybody with that excuse. No exchange is perfect and no investment is risk-free. Unless you have skin in the game, nobody cares what you think. You're just another Mr. McGoo yelling at his TV set. You risk nothing. You are insignificant.
Prove me wrong. PM me and I will even rent you my own coin to short-sell, but I'll need collateral because I think you're gutless and full of shit.

[5grainsilver]

So I have to trust you to return my collateral.  I don't trust you anymore than you trust me.  This market is not tradeable in any safe way.  I know you will all disagree with me even though your main exchange just got hacked and shut down like a week ago.

I will stick with mainstream products and exchanges.  Then my only risk comes from bad trades.  Here I have to factor in the risk of the exchange vanishing or Joe schmoe on the message board not returning my collateral when the bitcoin collapses.

Why so much hate though?  I can intelligently defend my product without getting upset when others view it negatively.  Emotion is the mark of amateurs and manias.

[5grainsilver]

Your primary objection in that post seems to be "Its not going to happen, because Governments will stop it by making it illegal or inventing something better" ?

They will probably try at some stage (hence the example of China banning Skype).

I give them about a 10% chance of success in the long term..  
maybe a 50% chance of short-term supression/hold back if they go all out.

The "Authorities Winning" ?  Very Unlikely.

BitTorrent, Drugs, Piracy, Copyright, Alcohol, Gambling, Sex, Porn, Weapons, Budgets etc etc

Name *1* thing that a government has succesfully managed to stop when the people wanted it ?

Taxation ?  No problem, Income Taxes are a stupid idea anyway.. The paperwork required is ridiculous
If necessary, Taxation will shift into property, consumption and other tangible things..
as someone once said "You cant hide Real Estate in Cyberspace"

A competitor to Bitcoin ?  What are they going to offer ?  Safety ?  
Sure, for a 10% (more?) premium you can have that.  Thats what credit cards, Paypal etc do..  
People still give discounts for *cash* however.  Bitcoin is digital cash..

If you want safety, pay for and use another layer of "insurance" (which is all chargebacks really are) on top..  
It wont be too long before "Coinpal" starts for people to deal with unknown entities on "Coinbay" and the like

The fact that these services arent entrenched yet means nothing.  They will come - Im guessing the next 6-12 months if not sooner.

Bankcoin will have lower fees maybe ?  Not likely, You think they're going to build a 10 Terahash distributed computing network out of their own pocket (and pay the power bill ?) and not want to recoup that cost ?  *and* keep it up to date with constantly evolving power just to stay ahead of the worlds combined home-computers aggregate power ?

The existing Telecoms would love to have a product that competes cost effectively with Skype and makes them a profit..  Havent seen one yet..  and theyre not short of billions to try if they could see an opening.

OK Enough thumping..   I think understand your new objection..  "The powers that be wont let it happen" ?

Time will tell, but I really dont think they will have much a choice myself.

I was very involved in the online poker boom from the beginning.  Call me an early adopter if you want.  I did very well like most others did.  They ended it by going after payment processors.  Legitimate businesses left the industry and we were left with shady companies willing to break the law.  They were also willing to cheat and vanish with customer funds.  Funds got seized by the government and were tied up for a long time.  That could easily happen to those willing to exchange bitcoin for fiat.  Bitcoin may be p2p but at some point it had to be converted to fiat or goods.  That is where it will be shut down.  Politicians are already discussing it. 
The same thing that spiked it to $30 will also be its downfall.(drugs)
I still think it will crash on its own merit first.

[datguywhowanders]

Why so much hate though?  I can intelligently defend my product without getting upset when others view it negatively.  Emotion is the mark of amateurs and manias.

While you are somewhat correct that emotion is the weaker argument, it is a valuable argument nonetheless. Aristotle recognized that there were three main modes of argument, being ethos, pathos, and logos.

You have tried to use your reputation as a long-time trader, ethos, as a standing for your argument concerning the possible success or failure of Bitcoin. Others have come back and made very good arguments, logos, concerning the rates of insurance and guarantees and how it would be financially unlikely to create a better Bitcoin clone. Both sides have argued the various pros and cons of a government takedown, again logos.

But the reason that people get upset, the reason that they get emotionally involved with Bitcoin, besides just having money invested in it, is that it can be and is to many people an ideological revolution. It's putting the power of money back in the hands of the little folks instead of "representatives" that don't really listen. It's being tired of taking what most folks see as ridiculous fees, terms, and service agreements from those "insurers" that some people so desperately want. That, good sir, is the pathos argument. Its strength depends on the audience, and that audience is growing larger with each passing day as the typical models of economics and finances cease to work for some people.

[billyjoeallen]

So I have to trust you to return my collateral.  I don't trust you anymore than you trust me.  This market is not tradeable in any safe way.  I know you will all disagree with me even though your main exchange just got hacked and shut down like a week ago.

I will stick with mainstream products and exchanges.  Then my only risk comes from bad trades.  Here I have to factor in the risk of the exchange vanishing or Joe schmoe on the message board not returning my collateral when the bitcoin collapses.

Why so much hate though?  I can intelligently defend my product without getting upset when others view it negatively.  Emotion is the mark of amateurs and manias.

I don't hate you. I think you're a clown. Opinions are like assholes. We all got 'em and they all stink. You have provided no original analysis, no insight, no reason to listen to anything you say except for the sheer entertainment value of it.  We've heard your arguments countless times before.

You don't trust me. You don't trust the exchanges, but you haven't given us  a SINGLE reason to trust you either.  I could argue your position better than you have, even though I don't believe it. You are a nobody and I'm going to have to ignore you unless you write something else entertaining. Step up your game.

[Edward50]

Similar to 5grainsilver, I do believe that an online currency such as this one could have great potential, that is why I follow this.

However, I think it is crazy right now to invest in this currency at the currently high prices.

Also like 5grainsilver has said about the government seizing the funds, I have seen firsthand the government go after egold, or I think it was egold some years back. What surprised me was I would never have thought the government would or could go after egold, and I was really surprised about it. I can also see them easily go after bitcoin in the same way.
I heard of this Egold because the owners did a interview on a very political far right internet radio station, and they offered egold as a way to make donations. Paypal already banned this radio station. It was not weeks after this that the egold owners home were stormed by the Government. They claimed that they were doing nothing wrong also.

The government will not care about you saying it is not a currency etc. They will shut it down. Already paypal has stopped allowing payments for anything to do with bitcoin, and ebay is taking down listings. This is just the beginning.

Bitcoin is also full of hackers etc. I do not understand all the technical aspects of it, but how long until the whole system is somehow cracked? Is this even possible? How many people would use a currency that can easily be stolen from their computer as easily as your web browser gets full of spyware.

With all the current drawbacks, it is hard to understand people spending so much dollar per bitcoin, especially considering they were so cheap just a couple of months ago, and nothing has really changed.

The other problem I see with costing so much per bitcoin, is that nobody will actually want to deal with this. Yes I know it is divisble, but the currency should have been in the billions, not in the low millions. This would make it much more easily distributed, and more easily spendable.

I would considering it an investment in the low single digits at this point, but not $15 or $30.

With all of this said, it still surprises me that there are people out there who keep the price as high as it is. They continue to buy all the bitcoins that keep coming to the market. Especially considering that probably 90%+ of those bitcoins are not going to be used to buy anything. They just buy them to speculate.

I will be holding out to when I think it hits a fair price in the low single digits.  




 

[SgtSpike]

Similar to 5grainsilver, I do believe that an online currency such as this one could have great potential, that is why I follow this.

However, I think it is crazy right now to invest in this currency at the currently high prices.

Also like 5grainsilver has said about the government seizing the funds, I have seen firsthand the government go after egold, or I think it was egold some years back. What surprised me was I would never have thought the government would or could go after egold, and I was really surprised about it. I can also see them easily go after bitcoin in the same way.
The government will not care about you saying it is not a currency etc. They will shut it down. Already paypal has stopped allowing payments for anything to do with bitcoin, and ebay is taking down listings. This is just the beginning.

Bitcoin is also full of hackers etc. I do not understand all the technical aspects of it, but how long until the whole system is somehow cracked? Is this even possible? How many people would use a currency that can easily be stolen from their computer as easily as your web browser gets full of spyware.

With all the current drawbacks, it is hard to understand people spending so much dollar per bitcoin, especially considering they were so cheap just a couple of months ago, and nothing has really changed.

I would considering it an investment in the low single digits at this point, but not $15 or $30.

With all of this said, it still surprises me that there are people out there who keep the price as high as it is. They continue to buy all the bitcoins that keep coming to the market. Especially considering that probably 90%+ of those bitcoins are not going to be used to buy anything. They just buy them to speculate.

If there were 60 million coins in existence, would $1.52 sound like a really high price as well?  What about $0.15 per coin if there were 600 million coins?

[5grainsilver]

I

So I have to trust you to return my collateral.  I don't trust you anymore than you trust me.  This market is not tradeable in any safe way.  I know you will all disagree with me even though your main exchange just got hacked and shut down like a week ago.

I will stick with mainstream products and exchanges.  Then my only risk comes from bad trades.  Here I have to factor in the risk of the exchange vanishing or Joe schmoe on the message board not returning my collateral when the bitcoin collapses.

Why so much hate though?  I can intelligently defend my product without getting upset when others view it negatively.  Emotion is the mark of amateurs and manias.

I don't hate you. I think you're a clown. Opinions are like assholes. We all got 'em and they all stink. You have provided no original analysis, no insight, no reason to listen to anything you say except for the sheer entertainment value of it.  We've heard your arguments countless times before.

You don't trust me. You don't trust the exchanges, but you haven't given us  a SINGLE reason to trust you either.  I could argue your position better than you have, even though I don't believe it. You are a nobody and I'm going to have to ignore you unless you write something else entertaining. Step up your game.

I'm not asking anyone to trust me.  I guess we will just disagree and see how it plays out.  As a gesture of goodwill to the bitcoin community and to help entertain you I will post one of my favorite trade setups later tonight when I get off work.  

[5grainsilver]

If this was tradeable I would short below 14.50 looking for a retest of the recent 11 low.  Should break by the end of the day.  14.50 that is.

[David M]

What is causing the price to continue going higher after it has been hitting new lows?

New lows?  On what time-frame? Intra-hour ticks?

Or how I would like to put it, who is dumb enough to buy at $15 now, when it was just $11 yesterday, and will probably hit that again very shortly?

Thanks for the laugh.

There is a trading methodology known as "dollar cost averaging" that buys at all prices.

Previous prices are a historical curiosity.  The market is ONLY the current bid and the ask.   Out of the money bids/ask are irrelevant.*

* I do watch in amusement as large bids/asks appear and disappear.  It must be due to inexperienced traders and lack of liquidity that makes "depth" appear to be so important in the Bitcoin market.

[MikesMechanix]

Who is dumb enough to sell at $15 when the price was over $30 not so long ago?

In theory, the current price is always correct, and it already includes the market's expectation of the future. Currently, the demand is clearly not there to drive the price up. And at the current difficulty, it'd be very profitable for miners to sell @ $5, so we are way above the minimum threshold.

[billyjoeallen]

If this was tradeable I would short below 14.50 looking for a retest of the recent 11 low.  Should break by the end of the day.  14.50 that is.

Your ignorant wild-assed guess is as likely to be correct as any other.  I actually hope you're right as my damn Dwolla deposit hasn't dropped yet.

Gretzky said the secret to his success was not in skating to where the puck was, but to where it was going to be. Bitcoin entrepreneurs make assumptions about future demand for Bitcoins.  We communicate these assumptions in our purchase and sale decisions. When those assumtions turn out to be useful information conveyed in the form of prices, then we get paid. When we provide inaccurate information, we get penalized.

Bitcoin will become valuable because the problems are fixable and being fixed. If I waited until they were already fixed, I would have to pay more.

[billyjoeallen]

Who is dumb enough to sell at $15 when the price was over $30 not so long ago?

In theory, the current price is always correct, and it already includes the market's expectation of the future. Currently, the demand is clearly not there to drive the price up. And at the current difficulty, it'd be very profitable for miners to sell @ $5, so we are way above the minimum threshold.

You clearly just contradicted yourself. The price wouldn't have moved up if demand wasn't there. The current price is always correct, right? Thanks for the laugh. 

[MikesMechanix]

In theory, the current price is always correct, and it already includes the market's expectation of the future. Currently, the demand is clearly not there to drive the price up. And at the current difficulty, it'd be very profitable for miners to sell @ $5, so we are way above the minimum threshold.

You clearly just contradicted yourself. The price wouldn't have moved up if demand wasn't there. The current price is always correct, right? Thanks for the laugh.  

He was talking about $30. If the demand was there to get it to $30, it would go there. Therefore, the current price is the right price. What exactly is contradictory?

Glad I made you laugh.

[5grainsilver]

If this was tradeable I would short below 14.50 looking for a retest of the recent 11 low.  Should break by the end of the day.  14.50 that is.

Your ignorant wild-assed guess is as likely to be correct as any other.  I actually hope you're right as my damn Dwolla deposit hasn't dropped yet.

Gretzky said the secret to his success was not in skating to where the puck was, but to where it was going to be. Bitcoin entrepreneurs make assumptions about future demand for Bitcoins.  We communicate these assumptions in our purchase and sale decisions. When those assumtions turn out to be useful information conveyed in the form of prices, then we get paid. When we provide inaccurate information, we get penalized.

Bitcoin will become valuable because the problems are fixable and being fixed. If I waited until they were already fixed, I would have to pay more.

You could very well be correct.  I hope it works out for you. 

[billyjoeallen]

In theory, the current price is always correct, and it already includes the market's expectation of the future. Currently, the demand is clearly not there to drive the price up. And at the current difficulty, it'd be very profitable for miners to sell @ $5, so we are way above the minimum threshold.

You clearly just contradicted yourself. The price wouldn't have moved up if demand wasn't there. The current price is always correct, right? Thanks for the laugh.  

He was talking about $30. If the demand was there to get it to $30, it would go there. Therefore, the current price is the right price. What exactly is contradictory?

Glad I made you laugh.

So either bitcoins WERE 100% overpriced or they ARE 50% undervalued currently. Time will tell. 

[MikesMechanix]

So either bitcoins WERE 100% overpriced or they ARE 50% undervalued currently. Time will tell. 

The price is currently exactly what the market thinks is the right price. It also was exactly what the market thought was the right price when it hit $30.

[imperi]

Yes It is very interesting times, I can't help  but keep checking the price of the bitcoin. I must admit, part of me wants it to go lower because I missed the boat on this one.

[billyjoeallen]

So either bitcoins WERE 100% overpriced or they ARE 50% undervalued currently. Time will tell. 

The price is currently exactly what the market thinks is the right price. It also was exactly what the market thought was the right price when it hit $30.

The price now is relatively unimportant. The price when I sell is very important. That won't be soon.

[Gabi]

I do not understand all the technical aspects of it, but how long until the whole system is somehow cracked? Is this even possible? How many people would use a currency that can easily be stolen from their computer as easily as your web browser gets full of spyware.

Nice trolling 

[piramida]

The argument that government will close all exchanges and that it's the weak spot is about as credible as RIAA closing down all torrent portals and that it's the weak spot of bittorrent. Guess what? It is impossible, you close one - two new open up instead. It's a game of whack-a-mole against the whole internet. Hopeless, pointless, funny to watch. Unless you prohibit people to exchange cash in person, or close down Internet, nothing prevents new exchanges from opening up 5 minutes after you "close" them by arresting domain name or servers.

And yes, nice analysis 5grainssilver. If your predictions of the real-world markets are as solid as your predictions of immediate BTC price changes, I guess you are broke by now? Or you are just talking and not following up words with actions. That may be wise, given the lack of broad vision.

[MikesMechanix]

The price now is relatively unimportant. The price when I sell is very important. That won't be soon.

The price now is all there is. Anything else is belief.

[Jack of Diamonds]

Yes It is very interesting times, I can't help  but keep checking the price of the bitcoin. I must admit, part of me wants it to go lower because I missed the boat on this one.

I'm willing to bet that's pretty common around the forums.

Narcissism and jealousy are the modern day plague. If you can't have it then nobody should.

[Jack of Diamonds]

Yes It is very interesting times, I can't help  but keep checking the price of the bitcoin. I must admit, part of me wants it to go lower because I missed the boat on this one.

I'm willing to bet that's pretty common around the forums.

Narcissism and jealousy are the modern day plague. If you can't have it then nobody should.

[kiba]

GLBSE is not a real exchange.  There is no volume.  It is not regulated by any government organization.  My expectation of receiving payout should my contract become profitable is pretty damn low.  The site owner has a link where you can donate to him lol.  That is not a professional exchange.  What are the qualifications of the person running it?  Who is running it?  Where is it based?  On the about me page it says the following:

"We Are The Market

Buy, sell, raise, lend, borrow, invest, the single market that does it all. Keep your bitcoin in one market, and instantly switch between different assets, currencies, shares, and bonds to take advantage of the largest bitcoin market.

    * Issue shares to raise capital
    * Pay dividends to shareholders
    * Put resolutions to shareholders and get their vote
    * Issue and sell bonds
    * Borrow and lend to the market
    * Make and recieve loan repayments
    * Issue futures contracts
    * Meta-trade on non listed companies (on other exchanges)
    * And trade all of the above with other traders on the market


Start Trading Now!

The exchange is currently under testing, but is being used, you may use at your own risk but be warned,you could lose your shirt ;-)"


That says nothing, except that the person running it is building this as they go and have no idea what they are doing.  

You have not been around for very long, right? Everybody know that the GLBSE exchange is based only on 100% trust, and defer to no authorities. It's not a MtGox and TradeHill that operates under the laws of its perspective nation state. It's more like silk road than your mom and pop convenience store.

[Babylon]

The bitcoin has consistently demonstrated that it will go lower and continue to reach new lows. Yet, it is currently trading close to $15 dollars.

Who would be buying at these prices?

What i think is either speculators are only buying to try and sell at a small spread, so they do not care what the price is, as they will sell very short term.

Manipulators are trying to maintain price and are trying to keep the price high so that they can build confidence in bitcoin and sell the majority of their bitcoins higher?

Your average investor just thinks bitcoins are worth it, and are buying them up.

I can not see the average investor buying bitcoins at this price, knowing that it will most likely continue a downward trend, and they could also wait a few days and buy low.

So what is going on? What is causing the price to continue going higher after it has been hitting new lows? Or how I would like to put it, who is dumb enough to buy at $15 now, when it was just $11 yesterday, and will probably hit that again very shortly?

new lows?  Just recently bitcoins were trading below a dollar and dollar parity was a high that many didn't foresee for a year or so.

Bitcoin has consistently risen in value, with some corrections.  It consistently falls in price only if you take a very small sample of time, starting at a point that was extremely high compared to the rest of the history of bitcoin.

[5grainsilver]

GLBSE is not a real exchange.  There is no volume.  It is not regulated by any government organization.  My expectation of receiving payout should my contract become profitable is pretty damn low.  The site owner has a link where you can donate to him lol.  That is not a professional exchange.  What are the qualifications of the person running it?  Who is running it?  Where is it based?  On the about me page it says the following:

"We Are The Market

Buy, sell, raise, lend, borrow, invest, the single market that does it all. Keep your bitcoin in one market, and instantly switch between different assets, currencies, shares, and bonds to take advantage of the largest bitcoin market.

    * Issue shares to raise capital
    * Pay dividends to shareholders
    * Put resolutions to shareholders and get their vote
    * Issue and sell bonds
    * Borrow and lend to the market
    * Make and recieve loan repayments
    * Issue futures contracts
    * Meta-trade on non listed companies (on other exchanges)
    * And trade all of the above with other traders on the market


Start Trading Now!

The exchange is currently under testing, but is being used, you may use at your own risk but be warned,you could lose your shirt ;-)"


That says nothing, except that the person running it is building this as they go and have no idea what they are doing.  

You have not been around for very long, right? Everybody know that the GLBSE exchange is based only on 100% trust, and defer to no authorities. It's not a MtGox and TradeHill that operates under the laws of its perspective nation state. It's more like silk road than your mom and pop convenience store.

I hate to be so negative on everything, but that is pretty much the perfect enviroment for scammers. 

[billyjoeallen]

The price now is relatively unimportant. The price when I sell is very important. That won't be soon.

The price now is all there is. Anything else is belief.

Price is whatever a willing buyer and a willing seller say it is.  If you want to buy MY BTC, you have to pay more than spot. I set the price for those particular coins.

[LeonGeeste]

yesterday was panic selling. i did buy at 12. now its going back to normal 15+ possibly a new all time high. then im selling the ons i buyed at 12

you noob just don't understand whats panic, and whats is normal.

15$ is normal?  Since last week?  Yesterday?  1$ was normal not too long ahhgo.  Normal is defined by how many more suckers are willing to buy in to this pyramid.  This thing fluctuates 20% like its nothing.  Bitcoin could go to .50 tomorrow.

So why are you here?
Or is this another jealous unemployed bum who is mad he didn't buy coins when they were 0.02 a piece

As an active trader in real markets I am finding this a great way to view the thought process of the losing trader and bubble sucker.  I've never seen it presented so clearly before.

I wish there was a real options market on this.  I would put most of my money into long term puts right now. 

I have no motives or money on this,  just bored at work and this is very entertaining.

Wait, are you the "wise bubble-spotter" that tried emailing "Adam" at bitcoin.org to ask if they would implement a possibility to short BTC?

[billyjoeallen]

yesterday was panic selling. i did buy at 12. now its going back to normal 15+ possibly a new all time high. then im selling the ons i buyed at 12

you noob just don't understand whats panic, and whats is normal.

15$ is normal?  Since last week?  Yesterday?  1$ was normal not too long ahhgo.  Normal is defined by how many more suckers are willing to buy in to this pyramid.  This thing fluctuates 20% like its nothing.  Bitcoin could go to .50 tomorrow.

So why are you here?
Or is this another jealous unemployed bum who is mad he didn't buy coins when they were 0.02 a piece

As an active trader in real markets I am finding this a great way to view the thought process of the losing trader and bubble sucker.  I've never seen it presented so clearly before.

I wish there was a real options market on this.  I would put most of my money into long term puts right now. 

I have no motives or money on this,  just bored at work and this is very entertaining.

Wait, are you the "wise bubble-spooter" that tried emailing "Adam" at bitcoin.org to ask if they would implement a possibility to short BTC?

LOL. Doug Casey's technical advisor.

[LeonGeeste]

Wait, are you the "wise bubble-spooter" that tried emailing "Adam" at bitcoin.org to ask if they would implement a possibility to short BTC?

LOL. Doug Casey's technical advisor.

 

[FlipPro]

The bitcoin has consistently demonstrated that it will go lower and continue to reach new lows. Yet, it is currently trading close to $15 dollars.

Who would be buying at these prices?

What i think is either speculators are only buying to try and sell at a small spread, so they do not care what the price is, as they will sell very short term.

Manipulators are trying to maintain price and are trying to keep the price high so that they can build confidence in bitcoin and sell the majority of their bitcoins higher?

Your average investor just thinks bitcoins are worth it, and are buying them up.

I can not see the average investor buying bitcoins at this price, knowing that it will most likely continue a downward trend, and they could also wait a few days and buy low.

So what is going on? What is causing the price to continue going higher after it has been hitting new lows? Or how I would like to put it, who is dumb enough to buy at $15 now, when it was just $11 yesterday, and will probably hit that again very shortly?

You're just so stupid.

[minerops]

BTC made Time... i think the speculators are just getting started

[syb3ria]

Just wait and see what will happen when really good speculators from the money markets come around...

[TheMalon]

The bitcoin has consistently demonstrated that it will go lower and continue to reach new lows. Yet, it is currently trading close to $15 dollars.

Who would be buying at these prices?

What i think is either speculators are only buying to try and sell at a small spread, so they do not care what the price is, as they will sell very short term.

Manipulators are trying to maintain price and are trying to keep the price high so that they can build confidence in bitcoin and sell the majority of their bitcoins higher?

Your average investor just thinks bitcoins are worth it, and are buying them up.

I can not see the average investor buying bitcoins at this price, knowing that it will most likely continue a downward trend, and they could also wait a few days and buy low.

So what is going on? What is causing the price to continue going higher after it has been hitting new lows? Or how I would like to put it, who is dumb enough to buy at $15 now, when it was just $11 yesterday, and will probably hit that again very shortly?

You're just so stupid.

"You're just so stupid." is a sentence used only between the same kind of people ... Because the others don't need to say it ... they just make you feel so!
Ciao.

[Edward50]

Yes It is very interesting times, I can't help  but keep checking the price of the bitcoin. I must admit, part of me wants it to go lower because I missed the boat on this one.

I'm willing to bet that's pretty common around the forums.

Narcissism and jealousy are the modern day plague. If you can't have it then nobody should.

I already admitted in a post on this thread earlier, I think the bitcoin can have potential. Just not at $15 right now. Low single digits is where it would be a decent investment. That is where I think the risk/reward level is. Paying $15 right now is too much considering all the risks, and for the main fact that it keeps hitting new lows (AFTER THE  $30 PEAK).
If I had known of bitcoin when it was in the single digits, even before it went above $10, I would have bought.

What surprises me is that every time it hits a new LOW it bouces back. It seems that the best way to play bitcoin is  to buy when it hits a new low, and then sell during the bounce back. I would think this would not work after this happened so many times. I would think people would be onto this easy way to make profit.

[5grainsilver]

Let's see if $10 holds on this next push down.

[piramida]

If I had known of bitcoin when it was in the single digits, even before it went above $10, I would have bought.

Haha, no you would've not. You would've started a topic "Who is buying above $1? Manipulation or Market?" and give all of the same reasoning about volatility going from 0.1 to $1 and back. Absolute value of bitcoin means nothing. Right now it's at $15 level. You can not judge whether it's high or low because that is what it costs now. You better understand it now, or you will have some very hard time understanding $100 per BTC later.

[Tronlet]

You can not judge whether it's high or low because that is what it costs now. You better understand it now, or you will have some very hard time understanding $100 per BTC later.

lol?

[piramida]

lol?

Not lol. I'm afraid that if market prices BTC at $100, OP's head will explode.

[Tronlet]

lol?

Not lol. I'm afraid that if market prices BTC at $100, OP's head will explode.

Cool then, let's commit murder together. I have quite a few bitcoin I'm willing to sell at 100 dollars each, set up a buy order and we can initiate them simultaneously and skyrocket the market. Sound good?

[piramida]

Cool then, let's commit murder together. I have quite a few bitcoin I'm willing to sell at 100 dollars each, set up a buy order and we can initiate them simultaneously and skyrocket the market. Sound good?

thanks I just bought quite a lot at 13.50 so the extra margin of 86.50 that you ask for would be unfounded at this point in time.

[chuckypalumbo]

Just sold at $14.5 after buying at 14, made a quick little pocket full of change and now I'll look to buy again if it dips a little more this weekend. I'd like to get in below $14 so I ca maximize the number of BTC I have with the cash I put in (which wasn't much).

[piramida]

lol?

Not lol. I'm afraid that if market prices BTC at $100, OP's head will explode.

Cool then, let's commit murder together. I have quite a few bitcoin I'm willing to sell at 100 dollars each, set up a buy order and we can initiate them simultaneously and skyrocket the market. Sound good?

Hey you still up for the offer?

[n691309]

lol?

Not lol. I'm afraid that if market prices BTC at $100, OP's head will explode.

Cool then, let's commit murder together. I have quite a few bitcoin I'm willing to sell at 100 dollars each, set up a buy order and we can initiate them simultaneously and skyrocket the market. Sound good?

Hey you still up for the offer?

You bumped a thread 5 years old lol, I read the first comments and are very interesting to read them how people were panic selling at 15 dollars, most of them now are high rank like Legendary, at the current price I think a similar coin is ethereum.

[piramida]

lol?

Not lol. I'm afraid that if market prices BTC at $100, OP's head will explode.

Cool then, let's commit murder together. I have quite a few bitcoin I'm willing to sell at 100 dollars each, set up a buy order and we can initiate them simultaneously and skyrocket the market. Sound good?

Hey you still up for the offer?

You bumped a thread 5 years old lol, I read the first comments and are very interesting to read them how people were panic selling at 15 dollars, most of them now are high rank like Legendary, at the current price I think a similar coin is ethereum.

I know right, interesting to recall people discussing whether $13 or $15 is a good price to get into bitcoin Like, seriously, making a decision. The only good decision back then was to buy all you can at any price.

As for Ethereum, I do not know. I personally sold all of mine because a coin that rollbacks several weeks for no real reason is a crapcoin with no future, but that's just HO