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Author Topic: BIDWALL MELTS!!!  (Read 3599 times)
pekv2
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October 25, 2011, 12:04:16 PM
 #21

Will it take about 6-8 more months before it goes up above 4? I got in at $14.7, only in a few months it dropped to 2.
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BadBear
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October 25, 2011, 12:09:40 PM
 #22

Will it take about 6-8 more months before it goes up above 4? I got in at $14.7, only in a few months it dropped to 2.

Did you sell at any point or are you still holding? 

As for the future, I don't see a significant rise until next year at this point.  It will bounce up and down for the short term, wiping out those who invested in the "bottom" or the following short term reversal of the past few days, which will allow it to fall even farther.  Future is uncertain as to whether it will recover. 

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pekv2
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October 25, 2011, 12:23:05 PM
 #23

Will it take about 6-8 more months before it goes up above 4? I got in at $14.7, only in a few months it dropped to 2.

Did you sell at any point or are you still holding? 

As for the future, I don't see a significant rise until next year at this point.  It will bounce up and down for the short term, wiping out those who invested in the "bottom" or the following short term reversal of the past few days, which will allow it to fall even farther.  Future is uncertain as to whether it will recover. 

Nah, I'm holding, not selling, I'm gonna mine till something happens where I can't, like death or end of bitcoin chain etc. Hopefully, in a year or whatever, if the price sky rockets, I will have quite a few bitcoins mined, and will be a good investment. As for the significant rise maybe in a year or more, that is what I kinda thought, it is gonna be a long journey. And hopefully, as the difficulty is dropping like so, in a year difficulty should be great.
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October 25, 2011, 12:59:35 PM
 #24

You must have really cheap power to still be mining at these prices. 

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bitclown
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October 25, 2011, 01:06:11 PM
 #25

You must have really cheap power to still be mining at these prices. 
Why should the current price matter if he's holding? Why should the price matter to enthusiasts at all? My computers ran SETI@home for over a decade, and no-one paid me for that.
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October 25, 2011, 01:09:01 PM
 #26

You must have really cheap power to still be mining at these prices. 
Why should the current price matter if he's holding? Why should the price matter to enthusiasts at all? My computers ran SETI@home for over a decade, and no-one paid me for that.

Because if may be cheaper to buy than to mine unless he has a source of very cheap electricity.

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October 25, 2011, 02:32:01 PM
 #27

You must have really cheap power to still be mining at these prices. 
Why should the current price matter if he's holding? Why should the price matter to enthusiasts at all? My computers ran SETI@home for over a decade, and no-one paid me for that.

It matters because if you are paying for your electricity bill, you are likely paying more to get btc than just buying them.  That is illogical. 

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October 25, 2011, 02:34:28 PM
 #28

I love it, been saying in my recent posts that once this wall goes, it is all downhill.

Still too much optimism around here. Not nearly as much as a few months ago, but you speculators need to be shaken up a bit more until you learn your lesson. You still just don't get it that your dealing with an item similar to an antique. The only problem is, every single minute more and more of the item you own are getting thrown into the market.

This is not like stocks, which are a fixed amount and make you money through company profits. It is not like a commodity where people actually need to use the item. You are dealing with something that has no useful value other than speculators and miners trying to get money out of it.

You will all get burned, dropping from $30 to $2 was not enough to stop the optimism. Hopefully the next downturn will beat you guys up enough to stop with the crap about bitcoin rising again.

when it comes to "stocks" you never heard of capital-measurements, have you?

please consider taking some lessons in finance economy, or at least read some marx or hayek or keynes. your example with an antique is silly. can you eat dollars? NO. cna you eat euros? no! they are nothing good for, exept what the common people believe in them to be worth.

,..this currency-theories are not hard to understand at all - kind of funny how often people mix up things.

http://en.wikipedia.org/wiki/Time_value_of_money
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October 25, 2011, 02:44:26 PM
 #29

BTW, to switch back to topic:




ASKWALL MELTS!!! Wink


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October 25, 2011, 03:03:36 PM
 #30

I think there should be some upward bias when the bitcoin generation halved from 50 to 25.
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October 25, 2011, 03:10:17 PM
 #31

You must have really cheap power to still be mining at these prices. 
Why should the current price matter if he's holding? Why should the price matter to enthusiasts at all? My computers ran SETI@home for over a decade, and no-one paid me for that.

It matters because if you are paying for your electricity bill, you are likely paying more to get btc than just buying them.  That is illogical. 

How much more will you pay for mining a bitcoin versus buying one?

I think it's conceivable that if the gap is not huge, some who already have mining rigs would rather pay a bit more by mining than dealing with getting funds into an exchange with the added benefit of securing the network and supporting the project.  Me for instance, though my mining "operation" is minuscule so whether I buy coins or mine them I won't pay much and won't get many coins either way.
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October 25, 2011, 03:56:07 PM
 #32

You must have really cheap power to still be mining at these prices. 
Why should the current price matter if he's holding? Why should the price matter to enthusiasts at all? My computers ran SETI@home for over a decade, and no-one paid me for that.

It matters because if you are paying for your electricity bill, you are likely paying more to get btc than just buying them.  That is illogical. 

How much more will you pay for mining a bitcoin versus buying one?

I think it's conceivable that if the gap is not huge, some who already have mining rigs would rather pay a bit more by mining than dealing with getting funds into an exchange with the added benefit of securing the network and supporting the project.  Me for instance, though my mining "operation" is minuscule so whether I buy coins or mine them I won't pay much and won't get many coins either way.

Lot of factors, the current price of btc, your hardware, whether you actually bought the hardware for mining (lots did), whether you have paid off your hardware investment (lots havent), your heating/cooling situation, your electric rates, whether you actually pay your electric rates or not, hardware depreciation, premature wear and tear on hardware, I'm sure some other things I am forgetting.   

And if you are really using "securing the network and supporting the project" as an excuse, well illogical is an understatement.  If this were some small altcoin I could get that, but it isn't.

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RyNinDaCleM
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October 26, 2011, 03:34:11 AM
 #33

   

And if you are really using "securing the network and supporting the project" as an excuse, well illogical is an understatement.  If this were some small altcoin I could get that, but it isn't.

But, if everyone had this mentality, no one would be mining! I think that is what separates the true supporters from someone trying to get rich at the expense of the rest.

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October 26, 2011, 03:41:23 AM
 #34

   

And if you are really using "securing the network and supporting the project" as an excuse, well illogical is an understatement.  If this were some small altcoin I could get that, but it isn't.

Yeah, I don't get why people join Folding@Home.  They don't contribute much at all when you compare their contribution to the overall network FLOPS.
[/sarcasm]

(BFL)^2 < 0
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October 26, 2011, 06:21:45 AM
 #35

lol at comparing bitcoin to folding.  You guys are hopeless.  Good luck with all that though. 

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October 26, 2011, 10:23:56 PM
 #36

the BIDWALL grows!
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October 26, 2011, 10:34:22 PM
 #37

the BIDWALL grows!

Let me tell you what I've learned from the past 4 months of watching market depth.  When bids outnumber asks, then the price goes down.  When bids vastly outnumber asks, then the price goes down a lot.  When asks outnumber bids, then the price goes down.  When asks vastly outnumber bids, then the price goes down a lot.
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October 26, 2011, 10:49:49 PM
 #38

the BIDWALL grows!

Let me tell you what I've learned from the past 4 months of watching market depth.  When bids outnumber asks, then the price goes down.  When bids vastly outnumber asks, then the price goes down a lot.  When asks outnumber bids, then the price goes down.  When asks vastly outnumber bids, then the price goes down a lot.

Reminds me of the rather absurd 'mappers' vs. 'packers' thread.  I don't even remember whether this make you a 'mapper' or 'packer'.  The latter I think.

Your observation is amusing, though.  Probably because it has that certain truth that makes things amusing to me.

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October 27, 2011, 12:20:15 AM
 #39

the BIDWALL continues to grow!
ineededausername
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October 27, 2011, 12:31:02 AM
 #40

the BIDWALL continues to grow!

It's 25k BTC already! Grin

(BFL)^2 < 0
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