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Author Topic: It makes no sense, but I'm holding.  (Read 3620 times)
mb300sd (OP)
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September 06, 2011, 04:40:19 AM
 #1

I bought 6 BTC at $12/BTC, and have managed to increase it to 26 BTC, mostly through smart gambling and 4BTC from mining. Should have sold earlier, but at this point, I'm still in the green... Going to hold and ride this out until it either gets back to $15 or hits 0.

Whos with me?

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September 06, 2011, 04:42:49 AM
 #2

I did that in the crash about a month ago.  It never came back up and I wished I would've sold to buy it back at 5 or 6 dollars.  This time it could go even lower who knows?  When it started crashing below $10 a couple weeks ago, I sold and was glad because it quickly went to $8.

I really thought it would have swung up by now but oddly it's still falling.  If you look at the front page of https://deepbit.net/, mining difficulty has decreased a little bit but it's still higher than July.

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September 06, 2011, 07:23:16 AM
 #3

I had 71 BTC that i sold a few days ago, at about 8.25.  I kept 10 of them others, and i will continue to mine, those i will hold.  I do believe the price will go back up, I just needed money for a media server =P, and a kindle for the wife.
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September 06, 2011, 07:27:33 AM
 #4

If you sell now and buy back at $4, you'll be making $3 per bitcoin when the price gets to the price at which you are holding right now.

Be humble!
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September 06, 2011, 07:28:29 AM
 #5

I think it will bottom at $5.

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September 06, 2011, 07:32:29 AM
 #6

$4-$4.5

I think it will bottom at $5.
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September 06, 2011, 07:34:27 AM
 #7

Well I'm going to sleep in about 5 minutes.  If it jumps while I am asleep, I will be pissed.  I am drinking a lot of water so it will wake me up every few hours to check on Mt. Gox.

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September 06, 2011, 07:36:37 AM
 #8

I'm with you OP, no selling going on from my wallet!

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September 06, 2011, 07:37:37 AM
 #9

Why did someone just put up 2400 coins for sale at $6.80 at Mt. Gox?

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September 06, 2011, 07:40:46 AM
 #10

Why did someone just put up 2400 coins for sale at $6.80 at Mt. Gox?

Because they realise the price is going to drop much further and would rather disembark from the bitcoin-train-to-0-land now?

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September 06, 2011, 07:49:28 AM
 #11

^

Be humble!
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September 06, 2011, 09:05:59 AM
 #12

A few days ago when bitcoin was down down and heading down from $9 I posted on this forum that I had buys at $7.10.  Well, those were filled today and the price kept heading lower.  Lol.  Time will tell whether it was a smart buy (probably not).
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September 06, 2011, 09:37:08 AM
 #13

I think holding is the only thing that makes sense, really.  I had my final, lowest buys in the $7 range, now all filled.

Now's it's time to be patient and see what happens.  I figure I'll hold for 1-3 years, or until price comes back up, whichever comes first. 
The_Duke
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September 06, 2011, 09:43:14 AM
 #14

I think holding is the only thing that makes sense, really.  I had my final, lowest buys in the $7 range, now all filled.

Now's it's time to be patient and see what happens.  I figure I'll hold for 1-3 years, or until price comes back up, whichever comes first. 


It's funny to see all the people who have bought bitcoins at aroun $7-8, thinking that would be the low point, are now shouting "holding is smartest! It will go up up up!", even though all the indicators are pointing down. I feel for you people Wink

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September 06, 2011, 10:28:14 AM
 #15

As a miner, why would I sell if it keeps going even lower (say in the $4, 3, 2 range)?
You will get less than you spent on electricity.

I can understand if investors want to get out, but for miners, selling makes no sense at $6 (and current difficulty).

Of course, $6 would make sense if the difficulty adjusts down drastically.

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September 06, 2011, 10:28:21 AM
 #16

Well holding makes sense right now. Or buying, if you still have something to buy with. It's very, very unlikely that price will bottom at below $5. In fact I'd be willing to bet on this if someone wants to Smiley

Now I'm interested in seeing if the price will even break $6 which I think is unlikely but possible. Regardless, now we're at a range where buying is a good move and holding is a really good move.

Only a total doomsday-bear would sell at around $6.50 or less, there are no real indicators to show a major price drop from that point unless you're only seeing the very pessimistic scenarios. Anything is possible, but it's really pessimistic thinking.

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The_Duke
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September 06, 2011, 10:55:36 AM
 #17

Well holding makes no sense right now. Or buying, if you still have something to buy with. It's very, very unlikely that price will bottom at above $5. In fact I'd be willing to bet on this if someone wants to Smiley

Now I'm interested in seeing if the price will ever hit $10 again which I think is unlikely but possible. Regardless, now we're at a range where buying is a very bad move and holding is a bad move.

Only a total drug induced-bull would buy at around $6.50 or more, there are no real indicators to show a major price increase from that point unless you're only seeing the very optimistic scenarios. Anything is possible, but it's really optimistic thinking.

Changed it for you, into a more realistic scenario. You're welcome Smiley

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September 06, 2011, 11:22:07 AM
 #18

Changed it for you, into a more realistic scenario. You're welcome Smiley
Well, you're a known doomsday-bear so I'm not surprised but I still thank you for the correction. Only a doomsday-bear would think that a below $6.50 price isn't a good buying opportunity. It might not be the perfect opportunity as the price can go lower but it's a good one. As a selling point it's already bad and if we go a bit lower then we reach the point where selling is moronic.

But I wouldn't be surprised if we see selling even at the horrible selling points because that's often the point where the panic sets in. Panic sellers do their thing and then the smartest buyers who had the patience to wait will jump in.

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September 06, 2011, 11:37:17 AM
 #19

Email came out in '71, was that a bad idea too because it took so long to catch on? It takes awhile for new technology to catch on. The public must be educated about bitcoin. I have been online since '83, but did not have WWW access in my region until 1994. It's not that the internet was a bad idea, it just took awhile for it to be available. Bitcoin is nowhere near ready for John Q. Public.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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September 06, 2011, 11:42:16 AM
 #20

Good point by cbeast.

Here is a very recent IRC-log from just a few minutes ago, from the owner of Mt. Gox:

[14:23:25] <@free'MagicalTux> btw I see that most of the bitcoins we were watching (stolen coins) were sold today
[14:25:26] <@free'MagicalTux> TuxBlackEdo: no, stolen coins from other police reports
[14:25:38] <@free'MagicalTux> however we don't have enough proof to do anything
[14:25:43] <@free'MagicalTux> there is only reports from people

Timestamp is Finnish time. It's an interesting bit of information. Seems that thiefs have been accelerating the sell-off significantly.

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September 06, 2011, 11:44:23 AM
 #21

Well, you're a known doomsday-bear so I'm not surprised but I still thank you for the correction. Only a doomsday-bear would think that a below $6.50 price isn't a good buying opportunity. It might not be the perfect opportunity as the price can go lower but it's a good one. As a selling point it's already bad and if we go a bit lower then we reach the point where selling is moronic.
The price has already fallen 80% from the top, so assuming it's 98% certain it won't fall another 25% is wildly optimistic and naive. Bitcoin is backed by nothing, so there is no particular price point that can be said to be good or bad for buying or selling.
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September 06, 2011, 11:48:04 AM
 #22

Good point by cbeast.

Here is a very recent IRC-log from just a few minutes ago, from the owner of Mt. Gox:

[14:23:25] <@free'MagicalTux> btw I see that most of the bitcoins we were watching (stolen coins) were sold today
[14:25:26] <@free'MagicalTux> TuxBlackEdo: no, stolen coins from other police reports
[14:25:38] <@free'MagicalTux> however we don't have enough proof to do anything
[14:25:43] <@free'MagicalTux> there is only reports from people

Timestamp is Finnish time. It's an interesting bit of information. Seems that thiefs have been accelerating the sell-off significantly.

So the guy who is leading the one real exchange (the others are too small in comparison) is spreading trade-sensitive information?

Shady at best...

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September 06, 2011, 11:57:05 AM
 #23

Good point by cbeast.

Here is a very recent IRC-log from just a few minutes ago, from the owner of Mt. Gox:

[14:23:25] <@free'MagicalTux> btw I see that most of the bitcoins we were watching (stolen coins) were sold today
[14:25:26] <@free'MagicalTux> TuxBlackEdo: no, stolen coins from other police reports
[14:25:38] <@free'MagicalTux> however we don't have enough proof to do anything
[14:25:43] <@free'MagicalTux> there is only reports from people

Timestamp is Finnish time. It's an interesting bit of information. Seems that thiefs have been accelerating the sell-off significantly.

So the guy who is leading the one real exchange (the others are too small in comparison) is spreading trade-sensitive information?

Shady at best...

Yeah, that seems odd.  Also, I'm just going to go ahead and say that I'm in favor of requiring government issued identification at the exchanges.  I know a lot of people will hate me for that, but it would at least make it more difficult to convert stolen coins into cash and run off.  If you really want coins anonymously there would still be ways to get them.  Just not at the exchanges.

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September 06, 2011, 11:58:31 AM
 #24

Email came out in '71, was that a bad idea too because it took so long to catch on? It takes awhile for new technology to catch on. The public must be educated about bitcoin. I have been online since '83, but did not have WWW access in my region until 1994. It's not that the internet was a bad idea, it just took awhile for it to be available. Bitcoin is nowhere near ready for John Q. Public.

There's a fine line between education and spruiking.  The few people who know about bitcoins have heard you make money by running your computer (sounds like a complete scam) or that drug users love it (Silk Road).  Preaching about freedom from fiat currencies isn't going to catch on with the vast majority of people, and mentioning you run a program on your computer to make cash sounds laughable regardless of reality.

Bitcoin needs a new sales pitch.
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September 06, 2011, 11:59:48 AM
 #25

The price has already fallen 80% from the top, so assuming it's 98% certain it won't fall another 25% is wildly optimistic and naive. Bitcoin is backed by nothing, so there is no particular price point that can be said to be good or bad for buying or selling.
Well, this is the speculation forum. I can speculate however I wish. To me a price below $6.50 is very low and price below $5 is so low that I can't see how anyone in their right mind would sell at that point.

There are some reasons why I think this way, first of all that kind of price point will be negative return for most miners and I think a majority of them still have faith that the price will be at least higher, if not much higher, at some point. Then there is simply the realities of Bitcoin itself which is still just starting and still just as potential and just as working as ever, nothing has changed for the worse.

Also it does matter how low the price feels compared to the prices we've had in the recent months. $5 is low, very low. That means a good buying opportunity and a bad selling point for everyone else but panic sellers. Or people who have lost their faith completely, which I call doomsday-bears. Some of those people might just be manipulating the public opinion to buy lower, however.

And the fact that price has fallen 80% from the top is irrelevant. I could also say that it has risen by a significant factor from 6 months back. The long-term price is still doing okay, one of those indicators, an important one, is at around $6.3 right now. This is one of the reasons I don't believe in a stable price much lower than that, a lower price than that would require a fundamental problem with Bitcoin itself which doesn't exist.

I strongly believe that most of this crash and the downward trend that's going on currently is simple mass psychology. More pessimism and more reports of downward trends, well, what do you expect to get from that. It also has other effects such as people not focusing on what's important such as building the services and infra that Bitcoin needs, they worry too much about the stability of the price which is not very relevant.

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September 06, 2011, 12:01:12 PM
 #26

There's a fine line between education and spruiking.  The few people who know about bitcoins have heard you make money by running your computer (sounds like a complete scam) or that drug users love it (Silk Road).  Preaching about freedom from fiat currencies isn't going to catch on with the vast majority of people, and mentioning you run a program on your computer to make cash sounds laughable regardless of reality.

Bitcoin needs a new sales pitch.
+1

This is something we should be focusing on. There needs to be more incentives for people to try out Bitcoin.

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September 06, 2011, 12:04:32 PM
 #27

There's a fine line between education and spruiking.  The few people who know about bitcoins have heard you make money by running your computer (sounds like a complete scam) or that drug users love it (Silk Road).  Preaching about freedom from fiat currencies isn't going to catch on with the vast majority of people, and mentioning you run a program on your computer to make cash sounds laughable regardless of reality.

Bitcoin needs a new sales pitch.
+1

This is something we should be focusing on. There needs to be more incentives for people to try out Bitcoin.

Seems like some people are finally realizing that what nerds think is such a great idea (anonymous, unregulated, cryptocurrency) is of very little value to the other 98% of all people.

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September 06, 2011, 12:10:53 PM
 #28

Seems like some people are finally realizing that what nerds think is such a great idea (anonymous, unregulated, cryptocurrency) is of very little value to the other 98% of all people.
This is true. But Bitcoin has possibilities that will appeal to a much bigger audience, it's just a matter of developing the services and tools further. I'm already seeing big things starting from Bitcoin ATM's, sophisticated merchant services, physical Bitcoin bills and money in QR-tags and NFC-tags etc. And from NFC-tags you can even transfer the coins back and forth.

And all of this much cheaper and much faster than the banking system, for instance. There is so much potential and so much to do. The whole thing is still so small, we haven't even reached all the nerds yet.

I'm starting to think I need to start spending more time on other forums instead of the speculation forum. The only reason I spend time here is because I think there has been excessive doomsday-talk recently which is just contributing to the mass psychology effect I already talked about.

The problem is the real bulls and Bitcoin enthusiasts don't care much about the price because it's not relevant, that's why they don't post much in this forum. This doesn't apply to anyone who has a pessimistic standpoint because the price is the only thing right now to be pessimistic about as far as Bitcoin goes. That's why the ratio of bulls and bears is a bit skewed on this particular forum.

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September 06, 2011, 12:15:29 PM
 #29

Good point by cbeast.

Here is a very recent IRC-log from just a few minutes ago, from the owner of Mt. Gox:

[14:23:25] <@free'MagicalTux> btw I see that most of the bitcoins we were watching (stolen coins) were sold today

How do they know the bitcoins were stolen?  If they have reports from users and can trace the keychain then it seems like decent enough evidence to freeze the accounts until ownership can be verified.  PayPal freezes accounts for a lot less.

How many allegedly stolen bitcoins are being dumped onto the market right now?  Has the selling finished or are we looking at tens of thousands still waiting to be processed?

Which laws regarding stolen goods and money laundering does MtGox have to follow, and in which jurisdiction?

As others have pointed out, MtGox has selectively released very sensitive market information.  This is unethical at best.  If what MtGox says is true, speculators should be lining up to buy en mass as soon as the sell off finishes.
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September 06, 2011, 12:16:21 PM
 #30

Seems like some people are finally realizing that what nerds think is such a great idea (anonymous, unregulated, cryptocurrency) is of very little value to the other 98% of all people.

Sure, the average person doesn't care about those characteristics when it's just theory.  What they need are practical reasons for why those things can be good for them. For example, it can enable them to buy things electronically that they don't want to show up on their credit card bill (e.g. porn, as well as other potentially embarrassing things), and, two, it can allow people a pseudonymous way to bet on sports (in the U.S.).  Drug purchases have been another application. Anonymous donations to certain causes has been another application. People want to be able to handle such things in cash, and bitcoin can make that happen.
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September 06, 2011, 12:16:52 PM
 #31

And the fact that price has fallen 80% from the top is irrelevant.
But your *feelings* about what the price should be are? People were arguing in pretty much exactly the same way about the $10 "limit" when the price had fallen to $12-13. Good luck with your investments, you'll need it.

Regarding the mining cost it truly is irrelevant. The same number of coins will be mined no matter how many is mining. The hashing power will just scale down with the price.
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September 06, 2011, 12:31:26 PM
 #32

But your *feelings* about what the price should be are? People were arguing in pretty much exactly the same way about the $10 "limit" when the price had fallen to $12-13. Good luck with your investments, you'll need it.
My point there was that it's more relevant to talk about the massive rise in price and the size of Bitcoin economy from 6 months back. Even though the price has dropped significantly from the top, the economy has not contracted in a similar way. The economy in fact is still doing well and is massively larger than 6 months ago. Any talk of the price going back to the levels of 6 months ago are absolutely ridiculous.

This is because the interest in Bitcoin has not gone down in the same ratio as the price, not even close. The price top was mostly a massive bubble but the growth of services and users is not.

Quote
Regarding the mining cost it truly is irrelevant. The same number of coins will be mined no matter how many is mining. The hashing power will just scale down with the price.
I don't think it's irrelevant. Miners will change their cashout-plan based on the price, at least many do. It's hard to say how a low price will affect miners, will many just quit and sell everything regardless of negative return? Don't know.

My mining operation is basically as electricity-efficient as any miner can have so I'm the last man standing as far as mining goes. From my perspective it's smart to just hold everything. I'd rather just hold and spend coins at this point, not sell them. I'm probably not selling a single mined coin until the price goes higher.

We're also reaching the point very soon now that the miners who started a few months ago when the big boom happened are starting to have their mining rigs payed back, at least with the resale value of hardware included. This might change the cashout-plans of some miners if they happen to support Bitcoin in general.

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September 06, 2011, 12:54:48 PM
 #33

Seems like some people are finally realizing that what nerds think is such a great idea (anonymous, unregulated, cryptocurrency) is of very little value to the other 98% of all people.

Sure, the average person doesn't care about those characteristics when it's just theory.  What they need are practical reasons for why those things can be good for them. For example, it can enable them to buy things electronically that they don't want to show up on their credit card bill (e.g. porn, as well as other potentially embarrassing things),

Ok wow, you just gave a good reason for another... 0.05% of the masses. All the normal people just watch porn together with their partner and don't need to hide it.
By the way, in most developed countries you can open a bank account, set it to "no paper bills, only electronic", deposit cash on it and use that account to buy a secret gift for your partner without her seeing a bill.

Also, most sane women would rather see her partner buy some porn, than see a bill that shows a deposit to some weird exchange after which her partner rambles a bit about cryptocurrency, deregulation, decentralized currency and so on.

Quote
and, two, it can allow people a pseudonymous way to bet on sports (in the U.S.).  Drug purchases have been another application. Anonymous donations to certain causes has been another application. People want to be able to handle such things in cash, and bitcoin can make that happen.

Ok, you got another 0.1% of all people. Congrats, you have now managed to sell bitcoin to 2% nerds, 0.05% freak-porn-buyers-must-hide-from-wife and 0.1% of people who want to do illegal stuff anonymously. At the same time, you have ensured that the other 97% of people want NOTHING to do with something that is only used by freak-porn-watchers, drug-addicts, gambling-addicts and illegal activities.

My god, if that is your sales pitch, bitcoin is so doomed Sad

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September 06, 2011, 01:12:41 PM
 #34

If you think that it is going down and then back at $15, it really doesn't make any sense to hold Wink If you sell now and buy when the price is just $0.1 lower you will make more profit.
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September 06, 2011, 01:14:32 PM
 #35

Also, most sane women would rather see her partner buy some porn, than see a bill that shows a deposit to some weird exchange after which her partner rambles a bit about cryptocurrency, deregulation, decentralized currency and so on.

You don't have to ramble about anything, just say you made a deposit to your e-wallet or something to make some purchases. The nerdy stuff isn't what's going to make it catch on, right?

Ok, you got another 0.1% of all people. Congrats, you have now managed to sell bitcoin to 2% nerds, 0.05% freak-porn-buyers-must-hide-from-wife and 0.1% of people who want to do illegal stuff anonymously.

How'd you come up with those numbers?

But seriously, I was just mentioning a few examples. I'm sure there are others. My examples weren't meant to become the end all, be all rationale.  I do think you grossly underestimate the potential application to sports betting, just for one.

Quote
At the same time, you have ensured that the other 97% of people want NOTHING to do with something that is only used by freak-porn-watchers, drug-addicts, gambling-addicts and illegal activities.

I forgot how puritanical the general public is, how they chalk up all porn and drug use with freakiness and addiction.
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September 06, 2011, 01:40:08 PM
 #36

Also, most sane women would rather see her partner buy some porn, than see a bill that shows a deposit to some weird exchange after which her partner rambles a bit about cryptocurrency, deregulation, decentralized currency and so on.

You don't have to ramble about anything, just say you made a deposit to your e-wallet or something to make some purchases. The nerdy stuff isn't what's going to make it catch on, right?

Pornsites and xxx-toy shops etc usually have a non-pron related name that will appear on your CC bill. So if it's so easy to talk around it, then why do you need bitcoins in the first place.

Quote

How'd you come up with those numbers?

A guess. Just like your guess that it's apparently a significant number of people who are interested in that.

Quote
But seriously, I was just mentioning a few examples. I'm sure there are others.

If you're so sure, go ahead and name a few. Because I think there's not so many. Which is one of the reasons I believe bitcoin is destined to fail.

 
Quote
I do think you grossly underestimate the potential application to sports betting, just for one.

I think you grossly overestimate the amount of people that really want to use something like bitcoin for betting.

Quote
I forgot how puritanical the general public is, how they chalk up all porn and drug use with freakiness and addiction.

I guess you missed all the articles on the net about bitcoin and how they all mention drugs and illegal activities. That is how the public opinion works.

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Donate to the BitKitty Foundation instead! -> 1Fd4yLneGmxRHnPi6WCMC2hAMzaWvDePF9 <-
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September 06, 2011, 01:40:39 PM
 #37

Ok, you got another 0.1% of all people. Congrats, you have now managed to sell bitcoin to 2% nerds, 0.05% freak-porn-buyers-must-hide-from-wife and 0.1% of people who want to do illegal stuff anonymously. At the same time, you have ensured that the other 97% of people want NOTHING to do with something that is only used by freak-porn-watchers, drug-addicts, gambling-addicts and illegal activities.

My god, if that is your sales pitch, bitcoin is so doomed Sad
What you don't seem to understand is that the scenario you painted is not doom, it's in fact a large success. Even as a successful niche currency the price of one Bitcoin will be significantly higher than the current price, this is simple mathematics. If it somehow manages to find new areas which I think is possible, then the price will be in a range we haven't even seen yet.

I'd be quite happy if it manages to find a place as a successful niche currency which seems likely in my opinion, it's already a big success at that point. It's not necessary for Bitcoin to take over the world to be successful.

Denarium closing sale discounts now up to 43%! Check out our products from here!
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September 06, 2011, 01:45:56 PM
 #38


Well, this is the speculation forum. I can speculate however I wish. To me a price below $6.50 is very low and price below $5 is so low that I can't see how anyone in their right mind would sell at that point.


I agree!  Prices this low are not at all a value trap. Please buy hard, then hold & pray.
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September 06, 2011, 03:29:47 PM
 #39

Bitcoin needs a new sales pitch.

It's tax-free.
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September 06, 2011, 03:39:27 PM
 #40

Yeah, that seems odd.  Also, I'm just going to go ahead and say that I'm in favor of requiring government issued identification at the exchanges.  I know a lot of people will hate me for that, but it would at least make it more difficult to convert stolen coins into cash and run off.  If you really want coins anonymously there would still be ways to get them.  Just not at the exchanges.

Isnt this already the case? When you move into a government currency, how can you do it anonymously (excluding cash which is not an option at the Bitcoin exchangers)?

If you demand to move your funds to a bank account, you are revealing yourself because the bank account has your data. Also, Dwolla and similar systems require your data and also end up in a bank account anyway.


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September 06, 2011, 06:25:22 PM
 #41

i have 10 bitcoins. someone sends me a stolen bitcoin. i now have 11 bitcoins in my wallet.  if i send 10 bitcoins to be cashed out at mtgox, is the stolen bitcoin part of the transfer or does it remain in my wallet?
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September 06, 2011, 06:53:51 PM
 #42


I guess you missed all the articles on the net about bitcoin and how they all mention drugs and illegal activities. That is how the public opinion works.

Actually, the public ignores every positive trait any article describes and only listens to The_Duke's interpretation.
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September 06, 2011, 07:08:03 PM
Last edit: September 06, 2011, 07:22:18 PM by Raize
 #43

As others have pointed out, MtGox has selectively released very sensitive market information.  This is unethical at best.  If what MtGox says is true, speculators should be lining up to buy en mass as soon as the sell off finishes.

Don't worry, we are, it's gotta finish first, though. From my test buys, it ain't done, they are still selling into the buy orders. Whoever stole the coins isn't getting a great price on them right now because of their anxiousness to sell. It could be bots doing the rest of the work, too. There's gotta be huge speculators to drive this back up significantly, though, cause some of the big players are still selling their $1,000/day via MtGox, too. (And on Tradehill, but buyers have such a hard time moving money into Tradehill that buying on there is done mostly by those willing to do the arbitrage on behalf of all the miners selling on TH.)
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September 06, 2011, 07:12:45 PM
 #44

My strat involves holding some of my coins until at least 2015, no matter what the price does.
I also have a few for sale at $100.

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September 06, 2011, 07:22:30 PM
 #45

"I also have a few for sale at $100."

I checked the market depth for MtGox. I was disappoint Sad
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September 06, 2011, 07:38:14 PM
 #46

Well I'm going to sleep in about 5 minutes.  If it jumps while I am asleep, I will be pissed.  I am drinking a lot of water so it will wake me up every few hours to check on Mt. Gox.

Lol...

pathetic.
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