Topic: 100 cracked...time to buy?!!? (Read 3915 times)

That's not a big question, it's a noobs question, the smart people play the changes, they don't care where it tops or bottoms out.

lol
and make loans ofc

Don't look to yesterday, look at the past two weeks or so. The current trend is clearly downwards. The big question is when and at what price it will bottom out.

Looking at the market yesterday saw few sellers but many buyers.  But today sellers seem to be back  .  I guess it is hard to say which direction Bitcoin will go.....

have been going on now for a a while it got me irritated looking at the monitor

Unless we are in for a long slide, with prices dropping week after week. If so, support after support might be gobbled up over time. The good thing about such a scenario, is that we will find the real support. How far down does it have to go before miners think "frack this, i'm waiting for BTC to rise."

Expect to see more trade volumes around $90 or $80.  These are psychological numbers.  $90 and $80 will become both support price level and resistance level, depends on how long the exchange rate stays above or below these round numbers.  The longer exchange rate stays below $100, the more likely we will hang around $90.

Why do you even bother reading all this...

This is the speculation forum.
Every single post here is to try and bend the readers into buying or selling, depending on the OP crystal balls.

Just calm down, and use your BTC to buy stuff or services.
When you're oobtc, convert more useless fiat into btc and keep on.

If you have orders for selling at 88 and buying at 86, you don't belong to the scammers forum.... But to the ennemies one.

In order to buy at 50 you have to find someone that thinks it's only worth 50 to sell it too you. If people are starting to think that 's all BTC is worth then we have a problem.

The thing about all the people waiting to buy BTC around 50.... there's going to be people trying to get an edge on them by buying around 60, 70, 80...and then people like me buying a bit around 90...... as such, the battle between bear and bull never fails to cease.

I am new to Bitcoin so laugh at my ignorance but I thought $100 was too high, I currently value it closer to $50 per coin.

One of the problems is that it is still too difficult to obtain bitcoin in the United States.

The most popular exchange, Mt. Gox, is problematic. I don't trust them. Too many stories about fiat going in and coming out taking way longer than it should. Maybe they are just understaffed but maybe they are playing games and are ponzi.

Fiat currency in an account outside the US with no FDIC insurance may be a risk worth taking if it is only in their hands for a very short period of time, but when it takes long time that risk is radically bigger so I won't use them.

Getting coins via other means is also very risky.

CampBX looks like the only exchange in the US that has reasonable safety measures. They also are the only exchange I have found that looks like they actually comply with state and federal government with respect to the operation of a currency exchange. We need more exchanges like them.

Local individuals selling bitcoins, where I live there are only 3 and two of them won't even talk to you if you don't buy $500 worth.

When it is difficult to get a currency the result in increased scams, people offering to facilitate it that are going to rip you off, and that's bad for the currency.

Now that mining is difficult and really only available to those with expensive hardware at their disposal, the community needs to focus on making the coins easier to legally and safely aquire. Otherwise people won't be able to get the currency and if people can't get the currency they can't spend it and if people aren't spending the currency it is worthless.

Since bitcoin already is a deflationary currency by design, the community really needs to focus on getting it into hands of people who buy things and that means we need more places like CampBX.

In my opinion. I'm still a newbie to all this. Add salt.
I'm not buying until I've watched it for several months.

I believe so. I have been tempted to purchase some!

I think there is support at 100, 80, 65'ish and 50

Below 50 I think there is a more elastic support, where it may still sink, but not in large increments.
Nobody knows the future, but seems like bears are getting ready to hibernate.

i say plan to hit the buy button a lot in a short time 

100 Dollar Resistence Level hold good sign.

Lets See what tomorrow brings.

The difference between that crash and this one is that in the 2011 crash, there wasn't a history of there having previously been a comparable crash. If you think that this is going to play out just like the last crash, although there are innumerable new variables in the equation now, the question would just be what the new $5 will be. 5 being 16% of 30, the new bottom would be between 35 and 50 dollars. It also means that two years from now we will be seeing a "bubble" reaching a high of 2250, collapsing to 360. and then starting the next climb.
    I think there are enough emergent factors driving price right now that an exponential acceleration in the pattern is not at all unlikely. This would mean that this boom-bust cycle could take one year rather than two, and the subsequent six months, and then three months, and then price stability could start to emerge as the frequency of cycles becomes tight enough for meta-cycles to start to emerge.

    Of course, this is just using the 2011 crash as a model, like you suggested.

People are very negative about two things now: Gold and Bitcoin. I've heard several people who never invest (or invest at all the wrong times), say that gold and bitcoin have gone down so much and that it's ridiculous to invest in it. To me this shows it's the perfect contrarian play.

How do they even know about this? Because the mainstream media has reported on the crash of gold and bitcoin. I am buying!

Strong buy here will most definitely turn in to strong losses, the obvious trend is downward.  A good model is the 2011 crash.

I think seeking investment advice from quasi-anonymous people on a free messageboard is an excellent way to lose money.

a professional of the sex trade?

Engineer?

If there is one thing I learned the past 2 years it is this: Don't bet against bitcoin.

Same for me too, it's not nice to know that you could have bought so much more coins with a bit more patience xD
But well, finding the perfect spot to buy in is only luck anyway.

Sure thing captain.

It would surprise me that Bitcoin would appeal to bankers, I thought they would see it as a threat due to the lack of usury?

  http://www.thegenesisblock.com/bitcoin-london-draws-attention-of-mainstream-finance/

  Long term prospects for bitcoin look very strong.

  I say strong buy.

its miners selling now... not speculators

   I'll be glad if bitcoins move from the hands of speculators to the hands of bitcoin believers and people in countries like Argentina so that it can protect them from irresponsible central banks.

  Let the speculators and miners take their profits. We'll see just how useful all those dollars and euros are five years from now. I imagine there were people in the first crash from $30 who felt lucky because they sold all of their coins at $10 and stayed out.

   This reminds me of a Warren Buffett quote- "When people are being greedy, be fearful. When people are fearful, be greedy."

The value is something that can be worked out over weeks or months, not minutes.

You must be new here.

Bitcoin isn't going to be stable for a long, long time and that's because the speculators need to figure out whether they are worth 0 or 100k.

gotta tell yourself lies to keep up your morale?

+1

Same for me....i bought at around 84 euros, but i believe in bitcoins so i said to msyself: You will hold them forever, even if the prive falls to 1 euro
Warren Buffet would do it the same way ..

Trouble is that to have over 10% of the value of a currency wipes off in a matter of minutes, shows a total lack of stability, and does not go well for promoting crypto as an alternative to fiat. Mt Gox crappy software is to blame, they are killing crypto uptake. The buy and sell prices should have restrictions based on a weighted average, so you can't place too high or too low orders. Also their API orders should have time delays to prevent high frequency trading. This is supposed to be a stable currency, not a casino.

Patience. Are you here to speculate or do you believe in bitcoin? I'm in this for the long haul and the trend has always been up with corrections along the way. You can panic and sell at a loss or hold and wait for it to recover which it always does.

lol, i thought i am the only one that feels like this.

i bought massive 2 weeks ago. 

yes it is time to buy

i said in another topic miners were selling their profits of the past 3 weeks. which is about 75k bitcoins

Speaking of stupid souls, perhaps you need to work out how many BTC are mined in a day first,  I will save your poor brain the headache and do it for you 144 blocks of 25 coins = 3600 BTC mined  per day. 85,000 BTC have already moved in this dump in the past few hours, of which the recently mined portion is insignificant.

All the miners suddenly wake up at the same time and say 3..2..1...sell! Yeah right.

Even an idiot miner knows the to sell little parcels slowly is more profitable then all at once in a dump.

its miners selling
are you an idiot really thinking its an attack.. jesus have mercy on this stupid soul

It's interesting to look at the Bitcoinity chart for the past 12Hours, BTC flat no volume stable, then all of a sudden, around the time Europe wakes up, bang huge volume, down goes the BTC price. It's like it was a coordinated attack on the price, but to whose benefit?  Is there a futures market for the BTC/USD price where you can sell short leveraged and would gain from manipulating the price downwards?

buy all the way down. . . worked b4 will work again.

Aww but now you are just assuming lol

I have diversified out of bitcoin too. Don't be too presumptuous.

My 10,000 LTC futures contract that I bought for $1400 back in April served me very well from user 420.

 

Well at least I have enough Bitcoin to buy what I want, keeping it for transactions on the Internet.

$89, Start eating your fingers

In general the volume of bitcoin/fiat transactions is low -- too low to have a stable exchange rate.  There are 11 million+ btc existing and as long as the 24-hour btc/fiat volume is so low (it has rarely exceeded 1% of total btc), volatility is going to be a problem. It does not take much to manipulate / move the exchange rate.

$91

will be funny when you see sun again after a year

Will be funny if it doesn't get filled. 

They have so many Bitcoins?   .  Now below $95 just lost $10 per coin.

Noobs are exiting Bitcoin.

miners selling their profits of the last 2 weeks

Is there any good way to short btc?

I mean eventually there should be options contract support on exchanges like gox, but I haven't seen anything like that yet.

I just bought in at $105 , what is the problem that causes this downturn?

96.... a bit closer... start panicking

Nope he said in other thread he bought in at 105

i bought in at 15-75, so no problem for me (yet)

thats mtgox manipulating

...or someone has removed its massive bid order just in time to see prices crash and buy lower....

You mean as a person who bought in at 105 and is shitting their pants


Yup. The wall was real and eaten.

other question:


what happend to the giant Bid Wall yesterday? Before i went to sleep. there was a massive amount of Buy Orders....next morning: Blown


Someone must have sold like 30000 coins?!?

I have money coming in on monday, hopefully it will be in time to buy at low prices!!! 

If I were you I'd set an alert at $80... no sooner

 as a bull I say BUY what you can!

I would say no one can really predict, buy at your discretion.

as a professional i say buy and get slaughtered

100 Dollar is a important Level, when this doesn't hold....what next? 50?
But if it hold, it would be a good point to buy.


What do you think?