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Author Topic: I hope this downward trend leads to a shake out  (Read 1071 times)
Mousepotato
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August 02, 2011, 05:14:29 PM
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Too much network capacity right now, and my lowly 1.3 GH/s doesn't go as far as it used to.  I hope this downward trend in BTC price (are we calling it a correction yet?) leads to shake out of the casuals and fly-by-nighters.

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jjiimm_64
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August 02, 2011, 05:39:52 PM
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Too much network capacity right now, and my lowly 1.3 GH/s doesn't go as far as it used to.  I hope this downward trend in BTC price (are we calling it a correction yet?) leads to shake out of the casuals and fly-by-nighters.

agreed:  I got in a little late (mid june) so my best case scenerio is that difficulty levels out for 6 or 7 months while I accumulate btc's...  I fully expect the value of btc to skyrocket when more of the population gets wind of it, and there are more btc in the market so some will use it as a store of value.  like gold.

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BioMike
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August 02, 2011, 06:43:38 PM
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People saw that bitcoin price can go down and lost interest (ZOMG no 400% profit per week!!!! LOLOLOLO)... Price is still more then 1 year ago and I keep buying and with lower price I keep buying more. Bitcoins strength is not in its price, but what you can do with it. Although having mybitcoin getting unavailable caused an inconvenient situation for many merchants.
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August 02, 2011, 08:59:15 PM
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Too much network capacity right now, and my lowly 1.3 GH/s doesn't go as far as it used to.  I hope this downward trend in BTC price (are we calling it a correction yet?) leads to shake out of the casuals and fly-by-nighters.
People have been preaching that difficulty will go down and/or price will go up "soon" for months. Price has gone down dramatically in the past few months and difficulty has sky-rocketed. Even with all the bad press, massive difficulty increases and price drops, difficulty is still increasing fairly quickly.

I'm not saying that things won't correct themselves, but the way things are going it could be a while. This bitcoin game is truly *fucked*.

Help Bitcoins by buying clothes, technology, books, etc. through people/stores that accept BTC. This will increase overall value of BTC as well as mitigate unnecessary bank transaction fees.

My address -
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