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Author Topic: bubble imminent  (Read 14868 times)
So_Cynical
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March 01, 2011, 12:15:02 PM
 #101

I think that since QE2, many people are trying to protect their wealth by selling dollars. Maybe that's why bitcoins have increased its price so much.

Panic selling the USD for BTC  Cheesy i doubt it...IMO the current exchange rate is the result of speculation and hoarding, there's 5 million BTC out there yet only a fraction of that gets turned over at exchanges, just look at today's MtGox spread, High:0.97Low: 0.845 with that sort of volatility the exchange rate could go anywhere.

---------------

I'm sure there's a reason why MtGox doesn't have USD accounts? i mean why the muck around with liberty reserve?
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kiba
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March 01, 2011, 04:11:37 PM
 #102

Panic selling the USD for BTC  Cheesy i doubt it...IMO the current exchange rate is the result of speculation and hoarding, there's 5 million BTC out there yet only a fraction of that gets turned over at exchanges, just look at today's MtGox spread, High:0.97Low: 0.845 with that sort of volatility the exchange rate could go anywhere.

Wrong, there's just not enough speculators to stabilize exchange rate.

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I'm sure there's a reason why MtGox doesn't have USD accounts? i mean why the muck around with liberty reserve?

It's called paypal screwing with people.

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March 01, 2011, 04:54:16 PM
 #103

Wrong, there's just not enough speculators to stabilize exchange rate.
Just like there aren't enough speculators in the gold market to stabilise the gold price?
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March 01, 2011, 04:56:41 PM
 #104

Just like there aren't enough speculators in the gold market to stabilise the gold price?

Bitcoin probably fluctuate more than gold price fluctuate. The point is, there's a lack of volume. If you buy 10,000 dollars worth of bitcoin, it's going to change rapidly.

FreeMoney
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March 01, 2011, 05:08:17 PM
 #105

Just like there aren't enough speculators in the gold market to stabilise the gold price?

Bitcoin probably fluctuate more than gold price fluctuate. The point is, there's a lack of volume. If you buy 10,000 dollars worth of bitcoin, it's going to change rapidly.

Yeah, it would move the price by about 10%, this is temporary though. Six months ago it would have bought all coins on offer several times over.

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March 01, 2011, 07:30:36 PM
 #106

I think that since QE2, many people are trying to protect their wealth by selling dollars. Maybe that's why bitcoins have increased its price so much.

Panic selling the USD for BTC  Cheesy i doubt it...IMO the current exchange rate is the result of speculation and hoarding, there's 5 million BTC out there yet only a fraction of that gets turned over at exchanges, just look at today's MtGox spread, High:0.97Low: 0.845 with that sort of volatility the exchange rate could go anywhere.

Not panic selling.
You don't need panic to protect yourself against inflation.
It is also interesting having money in different places so you can access them in different ways.
If your bank closes temporarily, maybe you can liquidate your bitcoins faster than the dollars in your account.

2 different forms of free-money: Freicoin (free of basic interest because it's perishable), Mutual credit (no interest because it's abundant)
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March 20, 2011, 02:45:29 AM
 #107

I disagee.  Up, up, and away!

Bitcoin value is now at 0.6

what say you?
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March 20, 2011, 02:49:39 AM
 #108

Bitcoin value is now at 0.6

It's still above 0.7, today's low is 0.73 (mtgox)

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March 20, 2011, 03:10:05 AM
 #109

Bitcoin value is now at 0.6

It's still above 0.7, today's low is 0.73 (mtgox)

not on bitcoin central.
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March 20, 2011, 03:12:33 AM
 #110

Bitcoin value is now at 0.6

It's still above 0.7, today's low is 0.73 (mtgox)

not on bitcoin central.
Are you looking at the Euro? LRUSD is .83 on Bitcoin Central.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
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genjix
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March 20, 2011, 03:37:54 AM
 #111

my bad, I was looking at euro.
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November 04, 2011, 02:23:36 AM
 #112

Should've kept those bitcoins afterall Angry
payb.tc
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November 04, 2011, 02:33:28 AM
 #113

Should've kept those bitcoins afterall Angry

naaah, you should have sold them all for $30.
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November 04, 2011, 02:36:51 AM
 #114

Should've kept those bitcoins afterall Angry

naaah, you should have sold them all for $30.


I actually bought several $k around $0.2 or so, sold them and was like "fuck yeah! $100". Waited and waited after they sharply rose to $1 because I was *sure* a crash was coming due to the reasons in the OP.

Looks like my time will come again this time around! haha
speeder
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November 04, 2011, 02:39:29 AM
 #115

I bought at 0.7 and... lost them all on bitcoinica :/

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November 04, 2011, 02:56:26 AM
 #116

Should've kept those bitcoins afterall Angry

naaah, you should have sold them all for $30.


I actually bought several $k around $0.2 or so, sold them and was like "fuck yeah! $100". Waited and waited after they sharply rose to $1 because I was *sure* a crash was coming due to the reasons in the OP.

Looks like my time will come again this time around! haha

amazing walk back in time.  i remember fiddling around with offers at $0.50 at the time on OTC but not getting around to buying until $1.60.  what a roundtrip journey.  good news is we'll get to do it again.
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November 04, 2011, 03:09:44 AM
 #117

Should've kept those bitcoins afterall Angry

R u subtly implying there could be another bubble...soon!

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evlew
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November 04, 2011, 11:33:56 PM
 #118

hindsight is 20/20, my friend.
ShadowOfHarbringer
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November 05, 2011, 12:29:42 AM
 #119

Yeah, we had a bubble, it bursted, we lived through.
It was kinda obvious that this would happen and many people were saying that over and over again.

Now, can such useless topics as this be closed after they become totally & absolutely offtopic ?
I mean what is the point of existance of such a long offtopicked topics ? Does anybody even bother to read through them ? I seriously doubt so.

Perhaps all topics that are completely "used", should have their discussion moved to another [EMPTY] topic with changed title ?

wareen
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November 05, 2011, 10:31:47 AM
 #120

Yeah, we had a bubble, it bursted, we lived through.
It was kinda obvious that this would happen and many people were saying that over and over again.

Now, can such useless topics as this be closed after they become totally & absolutely offtopic ?
I mean what is the point of existance of such a long offtopicked topics ? Does anybody even bother to read through them ? I seriously doubt so.
Well, thread necromancy can be funny at times so I wouldn't automatically close them - but we now have a shiny new speculation subforum where this thread should probably be moved to.
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