Crash to $0.5 imminent. All bets are off.

[mobodick]

There, i said it.
 

[gewure]

this hurts my 35 BTC 

but now i don't sell for sure, anyway to late.

somewhere someone has pushed a shiiiitload of BTC into the market..

[BadBear]

this hurts my 35 BTC 

but now i don't sell for sure, anyway to late.

somewhere someone has pushed a shiiiitload of BTC into the market..

There's 7200 new ones every day so yeah...there's a lot coming in and not enough interest for them. 

[Jack of Diamonds]

this hurts my 35 BTC  

but now i don't sell for sure, anyway to late.

somewhere someone has pushed a shiiiitload of BTC into the market..

Holding onto a depreciating asset just to feed your ego makes no sense.
People make bad decisions and mistakes all the time.

A winner can see when he made a bad decision & stop his assets from depreciating even further.

[Nesetalis]

yes, sell, let me have your bitcoins for the price of dirt

[worldinacoin]

Well, I will be buying in as much as I can if it really goes to 0.5

[Technomage]

A winner can see when he made a bad decision & stop his assets from depreciating even further.
It's not "too late", if you sell at $2.8 you will thank yourself when it bottoms at $0.28.

This is very true, I made a complete exit at around $4 which was a good move. Basically next day (today) there was a massive drop so it was good timing.

Now the problem is at what point to buy back, because I do believe that Bitcoin will recover in the long term. The thing is at dollar parity the maximum value of all Bitcoins is $7.5 million, which to me simply can't be "too much". And there is another point which is the fact that actually only around 1 million Bitcoins are actively traded in the exchanges, and less than 50% are traded at all. I don't remember the sources for these calculations right now but anyway.

Fact is that at dollar parity the actual worth of the economy is somewhere between 1 million and 4 million dollars, depending on how you calculate it. I think it would be significantly undervalued at that point. Calling $0.5 is in my opinion ridiculous, that will only happen if something drastic happens to Bitcoin itself.

Bitcoin is functioning and doing well, fundamentally, and odds are it will continue to function. A drop to $2 is something, but a drop below $1.5 and $1 is something else entirely. We're talking about very critical levels here. The $ amount needed to sustain a certain price level drops radically the lower we go.

The bottom is true demand and I say that the real demand is at least between the 1 and 4 million dollars in total which it would have to be at dollar parity to sustain that price level. My call is that somewhere between $1.5 and $2.5 is the critical level which will be sustained and this level will rise in the next 12 months when the real usage of Bitcoins increases.

[gewure]

this hurts my 35 BTC 

but now i don't sell for sure, anyway to late.

somewhere someone has pushed a shiiiitload of BTC into the market..

Loss reduction is what smart people are good at.

Holding onto a depreciating asset just to feed your ego makes no sense.
People make bad decisions and mistakes all the time.

A winner can see when he made a bad decision & stop his assets from depreciating even further.
It's not "too late", if you sell at $2.8 you will thank yourself when it bottoms at $0.28.

doo, i have 35 BTC. lol. not 35000.

[proudhon]

yes, sell, let me have your bitcoins for the price of dirt

Funny, people said that about $13, $10, $8, $6, $5...you get the point.

[Nesetalis]

and it never stopped being true.

[mobodick]

yes, sell, let me have your bitcoins for the price of dirt

actually:
http://www.google.com/search?q=bag+soil&hl=en&hs=Roo&channel=np&prmd=imvns&source=univ&tbm=shop&tbo=u&sa=X&ei=3zWcTpmtO8Sk-gbXwMG5BQ&ved=0CDcQrQQ

1 bag of dirt > BC
 

[Nesetalis]

soil != dirt, sorry

[mobodick]

soil != dirt, sorry

the internets disagree:
dirt [dɜːt]
n
1. any unclean substance, such as mud, dust, excrement, etc.; filth
2. loose earth; soil
3. (Engineering / Civil Engineering)
a.  packed earth, gravel, cinders, etc., used to make a racetrack
b.  (as modifier) a dirt track
4. (Mining & Quarrying) Mining the gravel or soil from which minerals are extracted
5. a person or thing regarded as worthless
6. obscene or indecent speech or writing
7. Slang gossip; scandalous information
8. moral corruption
do (someone) dirt Slang to do something vicious to (someone)
dish the dirt Informal to spread malicious gossip
eat dirt Slang to accept insult without complaining
treat someone like dirt to have no respect or consideration for someone
[from Old Norse drit excrement; related to Middle Dutch drēte]

Double !!
 

[Fiyasko]

this hurts my 35 BTC 

but now i don't sell for sure, anyway to late.

somewhere someone has pushed a shiiiitload of BTC into the market..

Loss reduction is what smart people are good at.

Holding onto a depreciating asset just to feed your ego makes no sense.
People make bad decisions and mistakes all the time.

A winner can see when he made a bad decision & stop his assets from depreciating even further.
It's not "too late", if you sell at $2.8 you will thank yourself when it bottoms at $0.28.

+1

"Dirt is matter in the wrong place."

+1 But it's totally in the correct position if i put it there (Potting soil, motocrosstrack, Mud wrestling, etc)

[pennytrader]

I was an idoit when I bought back 30 BTC at $4 for a bounce play. Now I become a bagholder myself

[mobodick]

"Dirt is matter in the wrong place."

Actually, that is how the whole 'bag-o-soil' bussiness started.

[worldinacoin]

I actually found bitcoin at $4 cheap ,but now it seems we can get even cheaper

[gewure]

if i would not be a poor poor student, i would have bought another 35BTC today. but had no funds to do so

[Vandroiy]

Funny, people said that about $13, $10, $8, $6, $5...you get the point.

"Haha, people said Bitcoin goes into a bubble at $0.5, $1, $4, $9, $14, $20, I'll merrily ignore warnings at $30"

I'm not saying I'm certain it won't drop further, but people on this forum really need to learn that old saying: a trend is a trend until it stops.

If we see $0.5, i can buy 20k BTC for 10k USD... that's hardcore. A factor 64 on the peak. I am aware the price was inflated even before, but given the publicity Bitcoin had in the meantime, we don't know what a Bitcoin is worth now. In any case, dropping back to an insanely low value seems unreasonable.

[Nesetalis]

i suspect the actual "worth" is less than 1$ USD.
But honestly, long term growth should eventually catch up to where the bubble once reached. this low price of adoption makes it very cheap to buy in though, enough people notice, and the price is going to climb (it takes a few days for the money to reach the markets usually anyhow!)