It'll be insanity not to buy bitcoin at sub $500

[falllling]

it's not about you, sell or not your choice but bitcoin is going to nowhere but down until the final capitulation, sell now or lose everything

[exocytosis]

Actual production cost of one single bicoin is aroundt $530-$550. Any price below $500 is a steal. Buy now or regret years later. With difficulty ever increasing miners are getting screwed now cause anyone mining now is running at a loss.

It seems like the market doesn't agree with you. BTC has been way below 500 for several days now. There's more selling than buying going on. We'll be in the three hundreds a month from now.

[falllling]

Actual production cost of one single bicoin is aroundt $530-$550. Any price below $500 is a steal. Buy now or regret years later. With difficulty ever increasing miners are getting screwed now cause anyone mining now is running at a loss.

It seems like the market doesn't agree with you. BTC has been way below 500 for several days now. There's more selling than buying going on. We'll be in the three hundreds a month from now.

and $200 $100

[Asrael999]

Actual production cost of one single bicoin is aroundt $530-$550. Any price below $500 is a steal. Buy now or regret years later. With difficulty ever increasing miners are getting screwed now cause anyone mining now is running at a loss.

Evidence Please?   This might be true of people who have to buy overly expensive miners - this is not true for those who have desigened and built their own chips.

[mmortal03]

There's more selling than buying going on.

Not possible. Every seller has a buyer.

[Newbie1022]

There's more selling than buying going on.

Not possible. Every seller has a buyer.

Or maybe the seller just has somebody who is closing a short to record some initial profit. There's that, too.

[Timetwister]

Production costs are irrelevant. http://mises.org/daily/1680 Value is subjective, it's customers who determine the price of goods. Costs depend on how much customers are willing to pay. So if right now it isn't profitable for some people to mine, they will just stop.

[InwardContour]

Buying now is a smart thing to do, bitcoin actually is undervalued and in few months we will see a new big rise.

[bitnoteblock]

Let's hope the vale won't go under $400 or the insanity would be to have bought now.

[exocytosis]

If your claim is true, 99.9999 % of humans are insane, apparently. And that includes most users on these forums as well.

[thehappybtc]

I'm insane because I haven't bought at sub $500, but all in all I'm not too much insane, I have some $650 coins.

[cypherdoc]

it makes sense to buy sub 500 now especially since we're at what i think is the tail end of the longest pullback in Bitcoin's history.  sure, it could go lower but the next rally should blow by this point in time.  this is how cycles work, peaks and troughs.  we're still above April's low with higher lows.  bears are getting weaker and the turnover in coins has been immense.  those new holders are going to wait for their own special bubble ramp before even considering selling.

[exocytosis]

For the next couple of months, it will be a struggle for BTC to sustain a price above 450.

[Rakitich]

You have to be mentally retarded (as in actual problem with the brain) to not buy sub ATH BTC at any time and cost until next year.

[cypherdoc]

yesterday's pop off up at a slightly higher low since April, then May, then August, is indicative of bulls increasing confidence to step in and buy in an attempt to pick a bottom in this long overstretched down cycle.  this will occur with increasing frequency until or unless we crack a new low which is looking increasingly less likely.

[falllling]

yesterday's pop off up at a slightly higher low since April, then May, then August, is indicative of bulls increasing confidence to step in and buy in an attempt to pick a bottom in this long overstretched down cycle.  this will occur with increasing frequency until or unless we crack a new low which is looking increasingly less likely.

bitcoin is going to nowhere but down! next target $300

[MichaelBliss]

Actual production cost of one single bicoin is aroundt $530-$550. Any price below $500 is a steal. Buy now or regret years later. With difficulty ever increasing miners are getting screwed now cause anyone mining now is running at a loss.

Exactly.  I don't think the day trading speculators have any clue what the cost of production is (they seem to consider lines on a chart and various other less important factors first).

[cypherdoc]

yesterday's pop off up at a slightly higher low since April, then May, then August, is indicative of bulls increasing confidence to step in and buy in an attempt to pick a bottom in this long overstretched down cycle.  this will occur with increasing frequency until or unless we crack a new low which is looking increasingly less likely.

bitcoin is going to nowhere but down! next target $300

up!

[asganauei]

Actual production cost of one single bicoin is aroundt $530-$550. Any price below $500 is a steal. Buy now or regret years later. With difficulty ever increasing miners are getting screwed now cause anyone mining now is running at a loss.

Exactly.  I don't think the day trading speculators have any clue what the cost of production is (they seem to consider lines on a chart and various other less important factors first).

How can the cost of production be calculated, it's a nice indicator to know the mid term value of bitcoins.

[exocytosis]

Actual production cost of one single bicoin is aroundt $530-$550. Any price below $500 is a steal. Buy now or regret years later. With difficulty ever increasing miners are getting screwed now cause anyone mining now is running at a loss.

Exactly.  I don't think the day trading speculators have any clue what the cost of production is (they seem to consider lines on a chart and various other less important factors first).

I think your logic is the wrong way round.
If something costs more to produce than its worth doesnt mean its a good idea to buy the product, just thats it a bad idea to produce it.