Why is bitcoin creeping up again.

[johnyj]

I heard that someone in china just sold his apartment and bought 2000+ coins last month, and he is already 30%+ now

If you know how many excessive apartments there are in china...  


Just imagine that each apartment on this photo equals to a 2000 coins buy order, it will clear all the sell orders on all the exchanges in no time  

[Primrose]

I heard that someone in china just sold his apartment and bought 2000+ coins last month, and he is already 30%+ now

If you know how much excessive apartments are there in china...  


Just imagine that each apartment on this photo equals to a 2000 coins buy order, it will clear all the sell orders on all the exchanges in no time  

They look grim
I watched some documentary on youtube, forget which now, and it had streets and streets of these tower blocks, really grim. None of the chinese want to move into them, but I forgot why.

[JimboToronto]

Ugh. Reminds me of the 1960s-70s. Who in their right mind would want to live in buildings like that? Please don't tell me that horrible urban blight was built in the last 25 years. Yuck.

[MAbtc]

I bought thinking they would keep going up but woops!

This is why I am bothered by the "it's always a good time to buy bitcoin" attitude around here. It takes a long term perspective that new investors simply don't have, by and large.

Why do you assume that new investors don't have a long term perspective?

Do you think the average new blood entering during parabolic growth are doing so because of a long term perspective? I don't. Maybe I'm off.

[freequant]

Am I never going to be able to buy a couple more for below £30?

Don't worry, it's a matter of hours before you can buy BTCs for dirt cheap again.

Will I be able to buy them for £3 again? I remember those days.

Only if you can mine them with a GPU again. Not much chance of that.

Thers are Bitcoins less than £3 and that can be GPU mined: these are called Litecoins..

[freequant]

I bought thinking they would keep going up but woops!

This is why I am bothered by the "it's always a good time to buy bitcoin" attitude around here. It takes a long term perspective that new investors simply don't have, by and large.

Why do you assume that new investors don't have a long term perspective?

Do you think the average new blood entering during parabolic growth are doing so because of a long term perspective? I don't. Maybe I'm off.

Suckers Investors who get in now don't have a long term perspective.
But they don't have a short term perspective either otherwise they wouldn't enter now.

[derpinheimer]

Ugh. Reminds me of the 1960s-70s. Who in their right mind would want to live in buildings like that? Please don't tell me that horrible urban blight was built in the last 25 years. Yuck.

Whats wrong with them? New, clean buildings built on higher standards than the older ones?

[CryptoMinter]

http://i.dailymail.co.uk/i/pix/2010/12/17/article-1339536-0C859404000005DC-176_634x475.jpg

Ugh. Reminds me of the 1960s-70s. Who in their right mind would want to live in buildings like that? Please don't tell me that horrible urban blight was built in the last 25 years. Yuck.

Whats wrong with them? New, clean buildings built on higher standards than the older ones?

I think it has a lot to do with advanced planning for the large migration associated with the urbanization of China. People tend to call out the ghost towns and things as wasteful and mock it, but it's a lot more planning than can be found elsewhere.

Maybe we can blame the creep on the urbanization??

[johnyj]

I think this mostly comes from the diminishing hope of getting coins from investing in mining rigs

Every time after the price rocketed, the mining profitability will improve a lot, and many investors will put their money into mining rigs. That's the reason price advance will always stop to wait for difficulty to catch up. But now there is no hope to get any reasonable amount of bitcoin from those mining rig investments, so those investors are turning back to exchanges

[windjc]

Well there's that and then there the ever growing % of the other 7 billion humans that have never mined a day, but are finding out about bitcoin.