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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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Dafar
Legendary
 Offline
Activity: 1330
Merit: 1000
dafar consulting
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November 19, 2014, 02:55:01 PM |
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We are currently at ~$378.... we went down from $450 a week ago. How the fuck did "the rally resume"??
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ThatDGuy
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November 19, 2014, 04:09:53 PM |
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I think the announcement of the upcoming auction quieted any chance of that rally resuming.
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Omikifuse
Legendary
Offline
Activity: 1750
Merit: 1009
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November 19, 2014, 04:21:46 PM |
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no rally this year.
Come back in 2015
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TinaK
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November 20, 2014, 05:23:33 AM |
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yes, the price will resume to $350.
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var53
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November 20, 2014, 12:44:05 PM |
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I think the announcement of the upcoming auction quieted any chance of that rally resuming.
The upcoming auction is in early December, and there was a rally after the last auction. Perhaps we might see a rally for Christmas after the auction is over. |
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MF Doom
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November 20, 2014, 02:23:40 PM |
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yes, the price will resume to $350.
Yeah I don't think there has been any sort of rally in the last 8-10 months. Temporary price jumps yes, but no sustained/sustainable rally at all |
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NotLambchop
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November 20, 2014, 02:58:15 PM |
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... Perhaps we might see a rally for Christmas after the auction is over.
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1Referee
Legendary
Offline
Activity: 2170
Merit: 1427
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November 20, 2014, 03:00:32 PM |
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If there will be a rally this year I think it will start just before christmas. The new year means a new start, so that might be a reason for a rally with people panic buying  |
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ravenjt
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November 20, 2014, 03:21:22 PM |
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Surely some people will be spending BTC on Xmas presents?
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njcarlos
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November 20, 2014, 03:25:05 PM |
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Surely some people will be spending BTC on Xmas presents?
It's funny because you think people buy stuff with BTC Nah I'm kidding. But in all seriousness, I've only bought 2 things with BTC and I've been involved since early 2011... hosting & one thing off Adafruit. I'd guess 90% of people do nothing w/ BTC but trade or hold as a speculative vehicle. |
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kanggoroo
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November 20, 2014, 03:30:14 PM |
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maybe until march 2015 we will not see big movement in bitcoin price.
just see the world economic now , still not going better.
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1Referee
Legendary
Offline
Activity: 2170
Merit: 1427
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November 20, 2014, 04:36:21 PM |
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Surely some people will be spending BTC on Xmas presents?
It's funny because you think people buy stuff with BTC Nah I'm kidding. But in all seriousness, I've only bought 2 things with BTC and I've been involved since early 2011... hosting & one thing off Adafruit. I'd guess 90% of people do nothing w/ BTC but trade or hold as a speculative vehicle. It's difficult at this point to buy stuff with your Bitcoins beside domains, servers, hosting, etc. I'm sure people would spend their coins if there were plenty of stores in your city that accept Bitcoin as form of payment. It takes time till people switch their mindset, at this point Bitcoin by most people is seen as "investment" rather than form of payment. |
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alex0909
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November 20, 2014, 04:46:54 PM |
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Surely some people will be spending BTC on Xmas presents?
It's funny because you think people buy stuff with BTC Nah I'm kidding. But in all seriousness, I've only bought 2 things with BTC and I've been involved since early 2011... hosting & one thing off Adafruit. I'd guess 90% of people do nothing w/ BTC but trade or hold as a speculative vehicle. It's difficult at this point to buy stuff with your Bitcoins beside domains, servers, hosting, etc. I'm sure people would spend their coins if there were plenty of stores in your city that accept Bitcoin as form of payment. It takes time till people switch their mindset, at this point Bitcoin by most people is seen as "investment" rather than form of payment. I don't know in what bitcoin world you live, but you can buy a lot of things with bitcoin now ... Amazon via purse.io, food (and i live in paris, i can have several different types of food delivered for bitcoin), electronics, clothes. Gift cards that allow to buy in different stores. However, i have to recognize that it's not "Very easy" yet. |
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riiiiising
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November 20, 2014, 04:51:43 PM |
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I don't know in what bitcoin world you live, but you can buy a lot of things with bitcoin now ... Amazon via purse.io, food (and i live in paris, i can have several different types of food delivered for bitcoin), electronics, clothes. Gift cards that allow to buy in different stores.
However, i have to recognize that it's not "Very easy" yet.
Not easy (for anyone outside our core community of fanatics), and not practical. Hence why nobody is doing it aside for the occasional novelty factor, or when a site like newegg offers a discount (rare). |
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var53
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November 20, 2014, 04:53:03 PM |
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Surely some people will be spending BTC on Xmas presents?
It's funny because you think people buy stuff with BTC Nah I'm kidding. But in all seriousness, I've only bought 2 things with BTC and I've been involved since early 2011... hosting & one thing off Adafruit. I'd guess 90% of people do nothing w/ BTC but trade or hold as a speculative vehicle. It's difficult at this point to buy stuff with your Bitcoins beside domains, servers, hosting, etc. I'm sure people would spend their coins if there were plenty of stores in your city that accept Bitcoin as form of payment. It takes time till people switch their mindset, at this point Bitcoin by most people is seen as "investment" rather than form of payment. I don't know in what bitcoin world you live, but you can buy a lot of things with bitcoin now ... Amazon via purse.io, food (and i live in paris, i can have several different types of food delivered for bitcoin), electronics, clothes. Gift cards that allow to buy in different stores. However, i have to recognize that it's not "Very easy" yet. It's not reached the point where bitcoin pay points are as common as chip and pin pay points. It seems to be mostly online stuff you can buy ATM, though that's a lucrative market judging by paypal's turnover. |
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NotLambchop
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November 20, 2014, 05:12:59 PM |
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I don't know in what bitcoin world you live, but you can buy a lot of things with bitcoin now ... Amazon via purse.io, food (and i live in paris, i can have several different types of food delivered for bitcoin), electronics, clothes. Gift cards that allow to buy in different stores.
However, i have to recognize that it's not "Very easy" yet.
Not easy (for anyone outside our core community of fanatics), and not practical. Hence why nobody is doing it aside for the occasional novelty factor, or when a site like newegg offers a discount (rare). ...and once you factor in that everything (other than meh drugs @meh prices & wait &...) is also available via conventional payment methods with chargeback/security, why would anyone go through the hassle of converting fiat->BTC? |
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rkinnin
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November 20, 2014, 06:19:33 PM |
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I think the announcement of the upcoming auction quieted any chance of that rally resuming.
i think so too! |
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Wilhelm
Legendary
Offline
Activity: 1652
Merit: 1265
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November 20, 2014, 07:15:05 PM |
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Surely some people will be spending BTC on Xmas presents?
It's funny because you think people buy stuff with BTC Nah I'm kidding. But in all seriousness, I've only bought 2 things with BTC and I've been involved since early 2011... hosting & one thing off Adafruit. I'd guess 90% of people do nothing w/ BTC but trade or hold as a speculative vehicle. Bitcoin "Powered by drug addicts"  |
Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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smalltimer
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November 21, 2014, 06:28:48 AM |
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everyone was a victim to a pump and dump. Keep denying it.
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