Lethn
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Activity: 1540
Merit: 1000
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January 27, 2014, 03:10:13 PM |
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lol cybershawrk, you're like me when I'm feeling really nervous about holding something  you need to have something else to do to occupy yourself so you don't check the prices constantly. |
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cybershawrk (OP)
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Activity: 70
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February 21, 2014, 04:15:11 AM |
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yeah I do have quite a habit for checking the prices frequently lol guess that's what happens when you have some extra free time haha.  |
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aminorex
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Sine secretum non libertas
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February 21, 2014, 06:52:01 AM |
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Please do not confuse the value with the price. Certainly the price has been declining. Whether the value has gone up or down can only be determined by doing statistics on the bitcoin economy. I did some work on the blockchain for January and estimated the centroid of the value at 640 USD. By now it should be at least 720, if the expansion has been constant (which is unlikely of course).
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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skivrmt
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February 21, 2014, 02:21:24 PM |
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Please do not confuse the value with the price. Certainly the price has been declining. Whether the value has gone up or down can only be determined by doing statistics on the bitcoin economy. I did some work on the blockchain for January and estimated the centroid of the value at 640 USD. By now it should be at least 720, if the expansion has been constant (which is unlikely of course).
Generally though in a free market economy the value is the price. Bitcoin can be considered a free market because it's traded on multiple exchanges. This happens all the time in the stock market as well. What is the "value" of Apple? Google? Etc. The intrinsic book value is usually less then the current price, but the price includes future projected profits as well. But when I think of value, I think of what someone is willing to pay for a certain item. In the case of Bitcoin, currently the value is what a bidder is willing to pay for a coin on Bitstamp. |
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cybershawrk (OP)
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February 21, 2014, 09:59:54 PM |
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Investing in bitcoins is pretty much the same game as investing in stocks they can
go up and you can make some money or they could go down and you will lose money I guess the risk is part of the fun though lol.
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qiwoman
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February 22, 2014, 03:05:17 AM |
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I believe also there is speculation in the ALT COIN MARKETS as well so people are using BTC to play with those alt currencies too back and forth. At the moment Bitcoin is much a speculation object but once it goes more mainstream into products and services the price should eventually stabilize more I think.
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cybershawrk (OP)
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February 22, 2014, 03:43:17 AM |
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I wonder if someday bitcoin will become a thing of the past and some other coin would suddenly become popular.
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aminorex
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Sine secretum non libertas
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February 22, 2014, 07:21:32 AM |
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Please do not confuse the value with the price.
Generally though in a free market economy the value is the price. You are confusing the value with the price. Please stop. |
Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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cybershawrk (OP)
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February 24, 2014, 08:14:57 AM |
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does anyone think it will go down to a 1$ per btc I would totally rack up on those
if they did that probably won't happen though
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D05GTO
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February 24, 2014, 02:21:24 PM |
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does anyone think it will go down to a 1$ per btc I would totally rack up on those
if they did that probably won't happen though
LOL, I believe everyone and their mother would be "all in" at $100. No chance to reach $1. |
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cybershawrk (OP)
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February 24, 2014, 09:46:09 PM |
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yeah 100 is pretty low i still can't believe that in about less than a month's time
the btc price plummeted down from a 1000 to a 100 that's insane.
Does the sudden drop in price have anything to do with the fact that a boatload of bitcoins were stolen by hackers?
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thddx
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February 25, 2014, 02:18:17 AM |
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I cannot decide if you are being serious.
One thing is for certain: you should not equate what's happening on Gox with the price. I bet it will dip a bit further when Gox finally accepts its death, but we'll bounce back shortly thereafter.
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bitcoindirect
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February 25, 2014, 02:31:24 AM |
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Where's the stopping point at in speculation?
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skivrmt
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February 27, 2014, 12:25:42 AM |
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I cannot decide if you are being serious.
One thing is for certain: you should not equate what's happening on Gox with the price. I bet it will dip a bit further when Gox finally accepts its death, but we'll bounce back shortly thereafter.
Fairly accurate prediction and so far so good. There was a great NY Times articles talking about how this is a good thing. Coinbase is solid and here to stay. itBit is solid and here to stay (yes not a lot of you have heard of them but you will once there get US approval). Bitstamp I'm still not sure about, but they seem fairly solid. BTC I wouldn't trust but many do! |
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Erdogan
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February 28, 2014, 12:00:43 AM |
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Investing in bitcoins is pretty much the same game as investing in stocks they can
go up and you can make some money or they could go down and you will lose money I guess the risk is part of the fun though lol.
"Investing" in bitcoin is not really investing, since bitcoin is money it is saving. The real possibility that bitcoin can appreciate, is a one time event while bitcoin is being implemented. When bitcoin is fully implemented, you have the option of taking interest from lending, or invest (buy capital goods with the intent of producing something of value). |
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