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Author Topic: Bitcoin prices falling!  (Read 6334 times)
NeonFlash
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October 08, 2011, 03:01:21 PM
 #1

It's gone below 4 USD today and it's gown down at a steady pace. Does anyone else feel something's wrong and at this pace, BTC will lose all it's value by maybe next year?

It's going to be really difficult to break even with your initial investment in mining (GPU + other hardware + electricity).
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RyNinDaCleM
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October 08, 2011, 04:08:35 PM
 #2

While this IS true, so is the fact that you can BUY them cheaper than many can mine them!

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October 08, 2011, 06:31:04 PM
 #3


3-4$ is just fine to buy and hold them. remeber: there is a maximum of 21 million. what does that mean?! even if we just have 10 million users of BTC, that means there is on average only 2 BTCs, which means i am now (with my laughable 26BTC) 13x as rich as the future-average user.

--> worth WILL go up. as it did before.
the only risk that this will not happen is simply YOU ALL 'selffullfilling-prophency'-shortselling BTC to death.
So just don't panic.

Worldeconomy and traditional fiat-currencies have much bigger troubles now. i REALLY consider BTC a much secure (!!) investment than e.g. currencies like dollar or euro (they show a high volatiliy and inflation currently, but nobody ever thought of counting that into there bitcoin calculations?!)

example: $ is about 1/5 of the worth is was when george bush senior entered government! THINK of this! this is the normality! inflation hits you hard in $!!


.. my enthusiastic thoughts.

18459SEouNz2LuoZWLAKnrjKfBvNUcYjCu
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October 09, 2011, 12:37:40 AM
 #4

While this IS true, so is the fact that you can BUY them cheaper than many can mine them!

^THIS. I'm gonna have to sell off my mining gear and start buying them at this price.
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October 09, 2011, 02:20:13 AM
 #5

They're going back up now Smiley

>$4

CryptoCurrency for Gemstones ... Website | Main Thread  -  c0c0 Trading on YoBit
bulanula
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October 09, 2011, 02:27:03 AM
 #6


3-4$ is just fine to buy and hold them. remeber: there is a maximum of 21 million. what does that mean?! even if we just have 10 million users of BTC, that means there is on average only 2 BTCs, which means i am now (with my laughable 26BTC) 13x as rich as the future-average user.

--> worth WILL go up. as it did before.
the only risk that this will not happen is simply YOU ALL 'selffullfilling-prophency'-shortselling BTC to death.
So just don't panic.

Worldeconomy and traditional fiat-currencies have much bigger troubles now. i REALLY consider BTC a much secure (!!) investment than e.g. currencies like dollar or euro (they show a high volatiliy and inflation currently, but nobody ever thought of counting that into there bitcoin calculations?!)

example: $ is about 1/5 of the worth is was when george bush senior entered government! THINK of this! this is the normality! inflation hits you hard in $!!


.. my enthusiastic thoughts.

18459SEouNz2LuoZWLAKnrjKfBvNUcYjCu

Keep drinking the Kool Aid my friend. Prices bound to go <$1
BitcoinMint.US
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October 09, 2011, 04:27:16 AM
 #7

Spend 'em if you got 'em.
blue.mitzi
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October 09, 2011, 06:30:55 AM
 #8

drop short term, buyers will come. should sit at $5, but yes spend, spend, spend
Yeastmeister
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October 09, 2011, 03:31:33 PM
 #9

I'm mining and holding at this point.  Don't need to cash out for any reason, so I just keep holding. 
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October 09, 2011, 07:51:46 PM
 #10

$-chart of the last days looks pretty as if there is strong resistance at 3.85, 3.95. and 4.10



BUY!

odysseus654
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October 10, 2011, 01:42:10 AM
 #11

Just keep in mind that as a "currency" based on absolutely nothing (by design), the value of BitCoin is defined by how important it is for people to be holding coins.

I think the proposition of "money grows on trees" caused an explosion of popularity earlier this year and caused the perceived value to skyrocket.  But then the difficulty skyrocketed as well and suddenly the people that were creating a couple BTC each day found out they were getting absolutely nothing (and suddenly getting auto-banned for CPU-mining).

Something like this happened with SecondLife a couple years back I think, were people were suddenly talking about getting super-rich by playing a video game (also note that the SecondLife currency L$ ended up getting tied up in some pretty severe anti-money-laundering requirements and there is now only one valid major exchange).

Popularity has been dipping ( http://bitcoin.sipa.be/ ) and with it the price.  I'm guessing that once we separate out the people that want to be in BitCoin because of its properties from those that want to be in BitCoin to make free money we should settle down to a less-than-popular-but-stable description of what value it holds.
jackie
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October 10, 2011, 11:22:40 AM
 #12

I think they will go back in few more days. I hope so Smiley
MadHacker
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October 10, 2011, 05:52:57 PM
 #13

i'm holding onto mine.
won't sell them till they are worth at least $100 each.
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October 10, 2011, 06:16:46 PM
 #14

I'm still mining on 3 rigs. The only reason why I am doing this is because the rigs are at work (with my company's permission - we have many systems running 24/7).

I personally think that BTC will drop to $2-$3 for a while before rising back up.
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October 10, 2011, 07:09:03 PM
 #15

agree that bitcoins will drop to 2-3$... right now its heating my house so the offset of cost of electricity isn't to bad...
but unless more E merchants start accepting bitcoins... it may just end up beeing a nitch currency that will without more use may fall away into the void
bitleaker
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October 10, 2011, 07:24:50 PM
 #16

but unless more E merchants start accepting bitcoins... it may just end up beeing a nitch currency that will without more use may fall away into the void

E merchants will only accept bitcoin en-masse once the currency becomes stable, and once there is a trusted and regulated exchange which can guarantee to transfer fiat funds without any problems.

There is not a trusted exchange yet. MtGox have many issues and are a law unto themselves. Tradehill is too new. Bitcoin7 has been hacked or it was a scam. Trade-BTC was found out to be run by teenagers.

I'm only 50% sure that BTC will eventually become a viable currency. It is a fun hobby in the meantime though Smiley
plogank
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October 10, 2011, 08:17:39 PM
 #17

Don't put more into Bitcoin than you can afford to loose.

Having said that, I don't think it makes any difference how far Bitcoins fall in the exchange rates.  In the long run, Bitcoins will become a viable currency and have much more value than they do now.

If you like this post a donation would be nice....  1PhCzA9o1jcwHr7PR4mxea8nJYUJWpKAGb

Besides, It'll drive me crazy trying to figure where it came from.
tablekart
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October 10, 2011, 10:31:53 PM
 #18

why do you think so?

Dollar is better, gold is falling and BTC alike
BTC has no new impulses for  rising, everybody is mining and exch it out
not many things to buy better for BTC besides some illegal stuff



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October 10, 2011, 10:53:00 PM
 #19

...
not many things to buy better for BTC besides some illegal stuff

Not true.

There are several merchants (including myself) who offer products and services that are 100% legal for BitCoin.

New merchants are still arriving on the scene regularly and the technologies supporting BitCoin commerce are steadily moving forward.

CryptoCurrency for Gemstones ... Website | Main Thread  -  c0c0 Trading on YoBit
patrixiorey
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October 11, 2011, 12:36:20 AM
 #20

I can sell some inexpensives things that you only can buy on Argentine for someone that need something...

Warnig: we don't sell our beautifulls argentinian ladies Cheesy
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