silverbox
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Activity: 966
Merit: 1003
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June 08, 2012, 05:04:57 PM |
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The reward drop is definitely not fully priced in yet. In part it is, of course, but not fully. It will become priced in once the reward drop starts to be the #1 talking point in the community. So perhaps a couple of months before the drop. Late Summer at the earliest, probably early Autumn.
More than anything, the reward drop is going to affect miners. Who cares if you have a bunch of BTC you're holding and suddenly they're not created as quickly? But if you're out digging for gold and finding 1BTC per day for a year and suddenly you start to find 0.5BTC per day, your potential to earn money after paying for electricity just got killed. I suspect we will see network hash rate take a major dive following the drop -- I know I'll be shutting down unless price goes up or the number of people mining drops substantially (e.g. difficulty goes down). won't this open the network to be easily taken over by a 51% attack:S Probably not. |
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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fcmatt
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Activity: 2072
Merit: 1001
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June 08, 2012, 06:20:33 PM |
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this is it boys this is the start of the epic rise in value!
we are moving up to 8$ b4 the end of next week, mark my words
marked. 5.62 isn't quite $8... 5.62 was good enough for me to start selling. I decided to let 20 BTC go and collect the USD. I will keep selling as the price goes up. Naturally I am a miner but I have held off selling for a while in anticipation of this type of rise. |
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adamstgBit (OP)
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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June 08, 2012, 06:53:47 PM |
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this is it boys this is the start of the epic rise in value!
we are moving up to 8$ b4 the end of next week, mark my words
marked. 5.62 isn't quite $8... 5.62 was good enough for me to start selling. I decided to let 20 BTC go and collect the USD. I will keep selling as the price goes up. Naturally I am a miner but I have held off selling for a while in anticipation of this type of rise. how many coins you got? |
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_mr_e
Legendary
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Activity: 817
Merit: 1000
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June 08, 2012, 07:01:33 PM |
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this is it boys this is the start of the epic rise in value!
we are moving up to 8$ b4 the end of next week, mark my words
marked. 5.62 isn't quite $8... 5.62 was good enough for me to start selling. I decided to let 20 BTC go and collect the USD. I will keep selling as the price goes up. Naturally I am a miner but I have held off selling for a while in anticipation of this type of rise. how many coins you got? *dr evil* One hundred billion!!! |
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notme
Legendary
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Activity: 1904
Merit: 1002
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June 08, 2012, 07:07:20 PM |
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how many coins you got?
*dr evil* One hundred billion!!! So 476190.476% of all the bitcoins there will ever be... |
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adamstgBit (OP)
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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June 08, 2012, 07:07:34 PM |
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this is it boys this is the start of the epic rise in value!
we are moving up to 8$ b4 the end of next week, mark my words
marked. 5.62 isn't quite $8... well i called this rally on may 29th ~5.10$/BTC and its not over yet, my prediction still has till sunday to be proven false  |
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weex
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Activity: 1102
Merit: 1014
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June 08, 2012, 07:11:15 PM |
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New supply halves and demand stays the same (maybe even increases with the reward drop publicity). I say the price will go up at that time...but will it double?
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miscreanity
Legendary
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Activity: 1316
Merit: 1005
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June 08, 2012, 08:12:19 PM |
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CampBX just shot to $7.24/BTC on low volume.
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proudhon
Legendary
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Activity: 2198
Merit: 1311
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June 08, 2012, 10:08:30 PM |
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CampBX just shot to $7.24/BTC on low volume.
WTF? Who spent that much on coins they could have bought for so much less? |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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beckspace
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June 08, 2012, 10:21:19 PM |
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Low volume.
2 bitcoins sold for US$ 7.24 inside US.
42 BTC for US$ 5.99 each.
And 16.55 BTC for US$ 6.99.
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adamstgBit (OP)
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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June 08, 2012, 10:47:06 PM |
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 still kinda funny |
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proudhon
Legendary
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Activity: 2198
Merit: 1311
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June 09, 2012, 12:58:10 AM |
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Low volume.
2 bitcoins sold for US$ 7.24 inside US.
42 BTC for US$ 5.99 each.
And 16.55 BTC for US$ 6.99.
Still, even considering the fees of transferring money around, he could have gotten a much better deal. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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proudhon
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Activity: 2198
Merit: 1311
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June 09, 2012, 12:59:47 AM |
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and its not over yet, my prediction still has till sunday to be proven false Or we can call the obvious now. We've reached a top, and at the very least the market is going to rest for a while, but I suspect we're going to see more people sell and take profits because the liquidity is there. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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cypherdoc
Legendary
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Activity: 1764
Merit: 1002
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June 09, 2012, 02:24:57 AM |
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and its not over yet, my prediction still has till sunday to be proven false Or we can call the obvious now. We've reached a top, and at the very least the market is going to rest for a while, but I suspect we're going to see more people sell and take profits because the liquidity is there. Have you bought in yet? |
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notme
Legendary
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Activity: 1904
Merit: 1002
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June 09, 2012, 03:30:25 AM |
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and its not over yet, my prediction still has till sunday to be proven false Or we can call the obvious now. We've reached a top, and at the very least the market is going to rest for a while, but I suspect we're going to see more people sell and take profits because the liquidity is there. Have you bought in yet? Oh, proudhon's been holding for a while now. |
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miscreanity
Legendary
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Activity: 1316
Merit: 1005
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June 09, 2012, 03:52:19 AM |
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Or we can call the obvious now. We've reached a top, and at the very least the market is going to rest for a while, but I suspect we're going to see more people sell and take profits because the liquidity is there.
Have you bought in yet? Oh, proudhon's been holding for a while now. I still don't understand what's going on here. Ok, so I've got 500BTC I'm willing to play with. What's next?
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proudhon
Legendary
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Activity: 2198
Merit: 1311
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June 09, 2012, 05:29:04 AM |
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and its not over yet, my prediction still has till sunday to be proven false Or we can call the obvious now. We've reached a top, and at the very least the market is going to rest for a while, but I suspect we're going to see more people sell and take profits because the liquidity is there. Have you bought in yet? notme is right. I put all the money I had in the various exchanges back into bitcoin some time ago. Most of it is in offline wallets. I just bought 40 more BTCs on MtGox yesterday to play with at GLBSE. I haven't done anything with GLBSE and decided it was time to take a look. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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Realpra
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June 09, 2012, 07:59:18 AM |
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New supply halves and demand stays the same (maybe even increases with the reward drop publicity). I say the price will go up at that time...but will it double?
I think so, then higher yet and then collapse back down to the doubling. Something like that anyway. |
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bulanula
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June 09, 2012, 01:17:12 PM |
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New supply halves and demand stays the same (maybe even increases with the reward drop publicity). I say the price will go up at that time...but will it double?
I think so, then higher yet and then collapse back down to the doubling. Something like that anyway. SolidCon proved this to be true. I am cashing out at $10 for sure ! |
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