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Author Topic: The bubble has popped, slow decline to $3 on the way  (Read 11051 times)
Spekulatius
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June 25, 2012, 06:47:04 PM
 #41

OH FFS!



So let me get this straight, OP thinks bubble is burst, and bitcoin is going to 3, but strangely OP is willing to buy at a predicted loss of 1.50 a coin out of the generosity of his own heart ARSE!!!

Kid, I fucking eat cunts like you on the dead cat bounces! This ain't a bubble, it's just a gentle scratch of my balls first thing in the morning.

You speak like that retard in your avatar. Are you related? (pun intended)
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M4v3R
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June 25, 2012, 07:36:44 PM
 #42

Golden cross anyone?

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June 25, 2012, 07:52:06 PM
 #43

You speak like that retard in your avatar. Are you related? (pun intended)

I fail to see the pun, but then again I'm just the retard uncle who banged yo mamma, but it's all cool, I got your back brother!   Cheesy

[̲̅$̲̅(̲̅ ͡° ͜ʖ ͡°̲̅)̲̅$̲̅] From time to time i exchange e-currencies/trade like Skrill>Paypal>Remittances>Pokerstars>Amazon GC>PaySafecard to Bitcoin. [̲̅$̲̅(̲̅ ͡° ͜ʖ ͡°̲̅)̲̅$̲̅]
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June 25, 2012, 08:04:57 PM
 #44


For the groups that actually use bitcoin as a currency a drop to a flat $3 price would be extremely welcome.
I will create the bet shortly.

For anyone using it as a currency the price does not matter one damn bit. cent. ;p  aside from any wild flucations...

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
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Nekrobios
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June 25, 2012, 08:10:07 PM
 #45


For the groups that actually use bitcoin as a currency a drop to a flat $3 price would be extremely welcome.
I will create the bet shortly.

For anyone using it as a currency the price does not matter one damn bit. cent. ;p  aside from any wild flucations...
Not true, purchasing power actually matters, and this is pretty much determined by the price. If the price keeps going down like it did in summer, then people who hold Bitcoins (a currency should be a store of value) are losing purchasing power.
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June 25, 2012, 08:11:02 PM
 #46


For the groups that actually use bitcoin as a currency a drop to a flat $3 price would be extremely welcome.
I will create the bet shortly.

For anyone using it as a currency the price does not matter one damn bit. cent. ;p  aside from any wild flucations...
Not true, purchasing power actually matters, and this is pretty much determined by the price. If the price keeps going down like it did in summer, then people who hold Bitcoins (a currency should be a store of value) are losing purchasing power.
who said anything about holding it?

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
Nekrobios
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June 25, 2012, 08:13:21 PM
 #47

who said anything about holding it?
What do you imagine how people use a currency? They get paid in it, save it for a couple days, weeks, months or years and then spend it. Why would you immediately spend it?

Maybe you mean using Bitcoins as a "payment mechnism" or "value transfer" for fiat money?
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June 25, 2012, 08:21:56 PM
 #48

who said anything about holding it?
What do you imagine how people use a currency? They get paid in it, save it for a couple days, weeks, months or years and then spend it. Why would you immediately spend it?

Maybe you mean using Bitcoins as a "payment mechnism" or "value transfer" for fiat money?

It really has nothign to do with what I mean of it. I was replying to the quoteed text, Which to me read very much like groups of people that would be using it to purchase things with. You generally would buy the bitcoins at or clsoe to the time you were making the purchase. Not weeks in advance. shrug.





And your last reply to me was still in disagreement with the quoted text jsut the same as my reply was. We just both had different preceptions of how the authoer of said text was refering to currency. he said dropping would be good. you said it would be bad. And I said it qoulnd't matter whether it was up or down.

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
zby
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June 25, 2012, 08:22:31 PM
 #49

All the speculators realized that they were the only ones playing the game.
no higher  than $5 dec 31st.

If you get scared, Im offering to buy out any large holders now at $4.50.

Oh course whisperers are back!
Luceo
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June 25, 2012, 08:23:37 PM
 #50

mem put your money where your mouth is; I'll take YOUR BTC for 4.50USD

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June 25, 2012, 08:25:55 PM
 #51

There is a possibility of a further correction because my theory is that the BFL orders are actually causing downward pressure. This is because it seems most early ASIC buyers are buying with Bitcoin savings and then we have Bitpay that is selling everything and even announcing that they are selling. On the long run this really doesn't mean anything but for the short term there is some downward pressure.

I'm not sure how much that downward pressure will matter though, there is an underlying upward momentum that should be resuming its course sooner rather than later.

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June 25, 2012, 08:27:54 PM
 #52

There is a possibility of a further correction because my theory is that the BFL orders are actually causing downward pressure. This is because it seems most early ASIC buyers are buying with Bitcoin savings and then we have Bitpay that is selling everything and even announcing that they are selling. On the long run this really doesn't mean anything but for the short term there is some downward pressure.

I'm not sure how much that downward pressure will matter though, there is an underlying upward momentum that should be resuming its course sooner rather than later.

I'm not seeing it.  We're probably in for another multi-month slump, at best.
Stephen Gornick
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June 25, 2012, 08:37:12 PM
 #53

I'm not seeing it.  We're probably in for another multi-month slump, at best.

That's fine ... those make for weekend dip opportunities.  (Never did get a chance to buy back under $5 after the last weekend dip indicator showed green).

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Bitcoin Oz
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June 25, 2012, 08:44:53 PM
 #54

I buy small amounts of bitcoins weekly so it evens out the cost (dollar cost averaging) . One thing Ive learnt is not to try and time the market. Time IN the market is more important and if youre just getting bitcoins to buy something it doesnt matter what the price is.

Spekulatius
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June 25, 2012, 09:33:43 PM
 #55

Id vote for the continuation of the uptrend. Better buy quickly, because the downward momentum is already fading.
Short term dip: agreed
Continuation of uptrend: agreed
humanitee
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June 25, 2012, 09:52:13 PM
 #56

This thread is beyond silly.

Below $2 is not happening, period. I don't see it getting as far as $5. The 50k BTC from BitPay will slow things down a bit, but only for a while.

I'm tempted to say it won't get below $6, unless BitPay does something drastic (which would be idiotic on their part). Buying directly from BitPay is an option, so we probably won't even see all 50k hit the exchanges.

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June 25, 2012, 09:56:22 PM
 #57

Below $2 is not happening, period.

I don't see how that can be discounted with ASIC mining coming online and the reward drop.  I still think those are going to put major downward pressure on the price.
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June 25, 2012, 10:02:42 PM
 #58

I don't see how that can be discounted with ASIC mining coming online and the reward drop.  I still think those are going to put major downward pressure on the price.
Why?

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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June 25, 2012, 10:05:05 PM
 #59

Below $2 is not happening, period.
I don't see how that can be discounted with ASIC mining coming online and the reward drop.  I still think those are going to put major downward pressure on the price.

Very short-term, yes. However, difficulty retargeting ought to mostly smooth the transition from GPU->FPGA->ASIC. As GPUs start shutting down like CPUs did in 2011, external exchange rates will probably stabilize rather quickly.

Quantum behavior is not dominant now - the Bitcoin economy has long since exceeded a threshold where fluid dynamics are a better description of the system.
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June 25, 2012, 10:05:40 PM
 #60

I don't know why that would kick it down to $2.

People want ROI. The block reward halving will put greater pressure on ASIC purchasers to sell at higher prices to pay off their initial investment.

Please elaborate proudhon.

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