$438 and going down | Bitcointalksearch.org

EuroTrash

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Quote from: C64_4EVA on May 06, 2014, 05:24:44 PM

While the price may certainly dip below $400 or even $300, it will be short lived. There is no way in a year from now people will be buying Bitcoins for just a couple of hundred dollars. If anything, I'd expect another mania to develop over a complete price crash.

You don't provide a graph or at least one explanation behind your reasoning. Makes it look like you're pulling numbers out of your arse.

C64_4EVA

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While the price may certainly dip below $400 or even $300, it will be short lived. There is no way in a year from now people will be buying Bitcoins for just a couple of hundred dollars. If anything, I'd expect another mania to develop over a complete price crash.

inca

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Quote from: mikerbiker6 on May 06, 2014, 05:06:22 PM

What makes bitcoin valuable: Distributed network, blockchain technology, anonimity, bitcoin community,etc.
I think the 'era' of decentrilized mining is coming to an end, therefore the chance of attacks is highly likely.
This is just waiting for the bomb to go off.
We will see a slow decrease in value as this(the centrilization+losing of trust) is a gradual process. followed by a sharp drop after a 51% attack.
https://www.youtube.com/watch?v=Kjtgp5h-jEY&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q

So dump everthing while you can.

..so you can buy it?

mikerbiker6

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Activity: 392

Merit: 250

What makes bitcoin valuable: Distributed network, blockchain technology, anonimity, bitcoin community,etc.
I think the 'era' of decentrilized mining is coming to an end, therefore the chance of attacks is highly likely.
This is just waiting for the bomb to go off.
We will see a slow decrease in value as this(the centrilization+losing of trust) is a gradual process. followed by a sharp drop after a 51% attack.
https://www.youtube.com/watch?v=Kjtgp5h-jEY&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q

So dump everthing while you can.

EuroTrash

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Activity: 728

Merit: 500

Quote from: johnmatrix on May 05, 2014, 06:13:40 PM

Dont expect that the whales who bought at 900+ will be selling soon

By now it's about squeezing the coins out of the hodlers that have too many of them, independently from the price they bought at. Let me expand.
If coins are a very high percent of your net worth, you are more likely to capitulate than others. Especially if your cash flow is not that great (or negative) compared to the actual coins' worth.
The capitulation process is a form of wealth redistribution which might be healthy for btc in the long term. The grinding will stop when either the btc economy will be big enough to sustain the price, or the new wave of speculator/buyers will neutralize the selling pressure. Until then, expect many bull traps, likely caused by early investors trying to catch the bottoms - and losing their fortune in the process.

N12

donator

Activity: 1610

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Quote from: Asrael999 on May 06, 2014, 04:18:29 AM

or none of them will be and miners with alternative income sources (say renting hosting space) will hold looking for increases prices in the future reducing the daily supply of new coins to zero.

Yeah, or we can make something up that ignores economics and human behaviour that will suddenly behave differently from the past 7 months.

Malin Keshar

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1- People in idle mode waiting until 10 May to see what will be next Chinese move, with some panic sellers around
2 - stolen coins being slowly dumped

Asrael999

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or none of the new coins will be sold and large professional miners will seek alternative income sources (say renting hosting space) and hold looking for increases prices in the future reducing the daily supply of new coins to zero.

N12

donator

Activity: 1610

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Quote from: Raystonn on May 05, 2014, 07:33:27 PM

Quote from: Impaler on May 05, 2014, 07:14:02 PM

Newly minted coins are all that's needed to crash the market. The BTC community needs to CONTINUALLY spend more then a million dollars a DAY to support the current price, they can not simple HODL the price up because thouse miners need to have their costs covered.

No. If miners stop unprofitable mining, difficulty will drop to compensate. In short, mining costs will always be covered because of this. Mining difficulty will adjust, meaning less will be spent on hardware and electricity. So the fiat-value of BTC will not need to cover miners.

The point is that the average profit margins are decreasing across the board, from difficulty increase to difficulty increase, thus a larger portion has to be sold than before to cover running costs. Eventually, the margins will be very tight, and it will be extremely competitive, so that pretty much the entirety of the 3600 daily BTC supply will have to be sold.

If this wasn't true, then the average hashrate growth in % would not be decreasing:

ncsupanda

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Quote from: EuroTrash on May 06, 2014, 02:36:13 AM

Quote from: Stevenrm87 on May 05, 2014, 07:29:32 PM

w'ell probably be at or around $70 by the end of the month. SELL SELL SELL

Nope. Not so low and not that fast.

That would be "*awesome".

Price is up? BUY BUY BUY
Price is down? BUY BUY BUY

*You know what I mean.

EuroTrash

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Activity: 728

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Quote from: Stevenrm87 on May 05, 2014, 07:29:32 PM

w'ell probably be at or around $70 by the end of the month. SELL SELL SELL

Nope. Not so low and not that fast.

UglyTroll

newbie

Activity: 28

Merit: 0

Quote from: Impaler on May 05, 2014, 07:14:02 PM

Newly minted coins are all that's needed to crash the market. The BTC community needs to CONTINUALLY spend more then a million dollars a DAY to support the current price, they can not simple HODL the price up because thouse miners need to have their costs covered.

Haha, this is so truth. Beside I don't believe those college kids are able to HODL too long, how much the student load money in the Bitcoin market?

Raystonn

sr. member

Activity: 364

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Quote from: Impaler on May 05, 2014, 07:14:02 PM

Newly minted coins are all that's needed to crash the market. The BTC community needs to CONTINUALLY spend more then a million dollars a DAY to support the current price, they can not simple HODL the price up because thouse miners need to have their costs covered.

No. If miners stop unprofitable mining, difficulty will drop to compensate. In short, mining costs will always be covered because of this. Mining difficulty will adjust, meaning less will be spent on hardware and electricity. So the fiat-value of BTC will not need to cover miners.

Stevenrm87

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Activity: 403

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w'ell probably be at or around $70 by the end of the month. SELL SELL SELL

Impaler

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CryptoTalk.Org - Get Paid for every Post!

Newly minted coins are all that's needed to crash the market. The BTC community needs to CONTINUALLY spend more then a million dollars a DAY to support the current price, they can not simple HODL the price up because thouse miners need to have their costs covered.

UglyTroll

newbie

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Merit: 0

Quote from: johnmatrix on May 05, 2014, 06:13:40 PM

Dont expect that the whales who bought at 900+ will be selling soon

I think whales understand very much on Short Selling

johnmatrix

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Dont expect that the whales who bought at 900+ will be selling soon

r34tr783tr78

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Activity: 481

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Anyone that doesn't give supporting facts/reasons for their opinions won't be giving an opinion to take in account.

PerrythePlatypus

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I would expect a rebound to around $500 soon.

ncsupanda

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Quote from: r34tr783tr78 on May 05, 2014, 10:38:45 AM

I heard someone saying bitcoin is going to negative values, around -25usd. Do you think he might be right?

--
End joking mode

Lol'd.

r34tr783tr78

sr. member

Activity: 481

Merit: 268

I heard someone saying bitcoin is going to negative values, around -25usd. Do you think he might be right?

--
End joking mode

UglyTroll

newbie

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Haha, come on igorr, you give them toooooooo much pressure Grin

igorr

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Activity: 406

Merit: 250

Mining company out of game, and the price go to 50-100 usd.

UnDerDoG81

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Quote from: kwukduck on May 05, 2014, 09:24:37 AM

Get the F out of btc as long as you can. We had only good news last week, and quite a lot of it. Yet still the rate of decline is only increasing. Things will go south really fast in the upcoming few weeks. It will be double digits before we can possibly get a rebound.

Probably even $0.10 in 3 weeks

kwukduck

legendary

Activity: 1937

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Get the F out of btc as long as you can. We had only good news last week, and quite a lot of it. Yet still the rate of decline is only increasing. Things will go south really fast in the upcoming few weeks. It will be double digits before we can possibly get a rebound.

EuroTrash

hero member

Activity: 728

Merit: 500

Going south.

No early retirement for me this year... maybe never.

r34tr783tr78

sr. member

Activity: 481

Merit: 268

Start closing your eyes and be prepared to live like that for some time.

romerun

legendary

Activity: 1078

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Bitcoin is new, makes sense to hodl.

price will start rising when ppl stop watching

bryant.coleman

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Activity: 3808

Merit: 1219

It was relieving to see the prices remaining stable, despite the massive attack on Localbitcoins.com. Normally if some of the major exchanges are attacked, the prices will drop sharply. That didn't happened.

liexel

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Activity: 79

Merit: 10

i think the drop looks quite imminent / certain. better to bottom out soon so it can go upp

grahvity

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Activity: 150

Merit: 100

Quote from: N12 on May 04, 2014, 03:09:53 PM

Quote from: Wandererfromthenorth on May 04, 2014, 03:08:33 PM

we still have one week of chinese FUD ahead of us, where is sure that exchanges need to stop fiat transfers related to BTC. Up of down? you decide...

Facts U Dislike

Fear Certainty Belief

JimboToronto

legendary

Activity: 4242

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You're never too old to think young.

Quote from: kireinaha on May 04, 2014, 08:12:39 PM

I've been holding in this market for over three months now.

Good thing it's such a short time. Barely a blink.

JimboToronto

legendary

Activity: 4242

Merit: 5039

You're never too old to think young.

Quote from: ?? on ??

I suggest putting the idiot troll on ignore.

You mean the moderator? Grin

The "no more triple digits in 2013" one? Cheesy

You're lucky he lets you go. Your constant ragging on him has obviously had some effect. You're the only one he's called out by name. Be grateful he's relatively tolerant.

His posts will float or sink according to their own merit (or lack thereof). This is why I generally avoid the "ignore" button. There's too much good comedy to be missed by ignoring any except the most obnoxious and boring trolls.

Our illustrious moderator is neither obnoxious nor boring.

Just my two satoshis (BTC0.00000002).

kireinaha

sr. member

Activity: 350

Merit: 253

Quote from: Nobitcoin on May 04, 2014, 02:25:38 PM

Pessimistic as I am this might be the beginning of a drop to $300

Please say it's not so... I've been holding in this market for over three months now. We will not break $400 again, alhamdulillah.

r34tr783tr78

sr. member

Activity: 481

Merit: 268

I wonder if anyone here has any expectation to influence the price on even a buck... maybe on tradingview there are people with more than 1000 folowers that can have some influence, but here? Most comments have no support on any kind of bases.

LAMarcellus

full member

Activity: 180

Merit: 100

Last year I was a lone voice.
Now I am getting phone calls from people who want answers from an "expert".
Look at my posts here lol I'm no expert at all.
But to the locals I'm the one person whos been talking about BTC for over a year.

I can't tell you how common the word is and how many people are becoming interested.

2 days ago one guy told me "bitcoin is bankrupt" and "a lot of people got hurt by it". I didn't get a chance to ask him where he got his information from unfortunately.

Yesterday a buddy sent me a text,
"Hey D (local restaurant owner) wants to talk about BTC"

D mentioned buying gold to a buddy on my softball team. The buddy apparently responded "what about bitcoin?" D is curious and the wife supposedly said something like "absolutely not" lol. The thing is my buddy mentioned Btc because.....

Last year my softball Jersey name was "Gold, Bitchez" and I was #16. This year my name is "Bitcoin, Bitchez" and I will have BTC as a number soon. The jersey makers didn't have the symbol to put on a shirt. Grin

lol

igorr

sr. member

Activity: 406

Merit: 250

Quote from: Nobitcoin on May 04, 2014, 02:25:38 PM

Pessimistic as I am this might be the beginning of a drop to $300

More specifically around $280

Wandererfromthenorth

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Activity: 742

Merit: 500

Quote from: trackmaster on May 04, 2014, 03:28:29 PM

Please tell me you will be selling your bitcoins all the way down to $ 300. I will be happy to assist in taken them off your hands. Also please continue to ring your hands and sweat all over your key boards every time someone mentions China. It will not stop me and many other optimists from stepping on the gas and watching you fade away in the rear view mirror. Ever creative innovation in history had it doubters who quietly fade away over time. This is still the beginning of a journey not the final event. Bull on!

dude, i think a lot of people here sell only in order to rebuy cheaper eventually, not just to get out of the game.

windjc

legendary

Activity: 2156

Merit: 1070

Quote from: MatTheCat on May 04, 2014, 03:00:09 PM

Quote from: windjc on May 04, 2014, 02:50:10 PM

On Bitfinex:

12000+ coins to get to 500

11000+ coins to get to 365

This should concern bulls, imo.

Order books are a very poor indicator of market intention at the best of times....

.....and Bitfinex's order book is the very worst order book to be analysed as an indicator of market intention.

Talking the same flavour of utter shite all the way down:

Quote from: ?? on ??

bears are getting delusional

conclusion: bullish

........proven wrong on an ongoing basis yet never changes his tune or even feels embarrassed enough to simply shut the fuck up and admit his feel for the market sucks.

It is an important indicator. The amount of coins up to 500 has shifted dramatically. Also a LOT of longs are closing.

People are starting to understand that the last rally is over.

UglyTroll

newbie

Activity: 28

Merit: 0

Pure FUD (Facts U Dislike): OkCoin and Houbi will have license issues to run their business in 5 days, you guys will get a web notice soon, haha.

http://www.weibo.com/1733978750/B2Je56PVU?mod=weibotime

trackmaster

member

Activity: 84

Merit: 12

Please tell me you will be selling your bitcoins all the way down to $ 300. I will be happy to assist in taken them off your hands. Also please continue to ring your hands and sweat all over your key boards every time someone mentions China. It will not stop me and many other optimists from stepping on the gas and watching you fade away in the rear view mirror. Ever creative innovation in history had it doubters who quietly fade away over time. This is still the beginning of a journey not the final event. Bull on!

Wandererfromthenorth

hero member

Activity: 742

Merit: 500

Quote from: N12 on May 04, 2014, 03:09:53 PM

Quote from: Wandererfromthenorth on May 04, 2014, 03:08:33 PM

we still have one week of chinese FUD ahead of us, where is sure that exchanges need to stop fiat transfers related to BTC. Up of down? you decide...

Facts U Dislike

no, more like "Facts I like" (for now), did you read my post?

N12

donator

Activity: 1610

Merit: 1010

Quote from: Wandererfromthenorth on May 04, 2014, 03:08:33 PM

we still have one week of chinese FUD ahead of us, where is sure that exchanges need to stop fiat transfers related to BTC. Up of down? you decide...

Facts U Dislike

Wandererfromthenorth

hero member

Activity: 742

Merit: 500

we still have one week of chinese FUD ahead of us, where is sure that exchanges need to stop fiat transfers related to BTC. until next week, up of down? you decide...

MatTheCat

hero member

Activity: 840

Merit: 1000

Quote from: windjc on May 04, 2014, 02:50:10 PM

On Bitfinex:

12000+ coins to get to 500

11000+ coins to get to 365

This should concern bulls, imo.

Order books are a very poor indicator of market intention at the best of times....

.....and Bitfinex's order book is the very worst order book to be analysed as an indicator of market intention.

Talking the same flavour of utter shite all the way down:

Quote from: ?? on ??

bears are getting delusional

conclusion: bullish

........proven wrong on an ongoing basis yet never changes his tune or even feels embarrassed enough to simply shut the fuck up and admit his feel for the market sucks.

windjc

legendary

Activity: 2156

Merit: 1070

On Bitfinex:

12000+ coins to get to 500

11000+ coins to get to 365

This should concern bulls, imo.

FeedbackLoop

hero member

Activity: 742

Merit: 500

I sure hope it dumps. Having a hard time getting some orders filled.

gentlemand

legendary

Activity: 2604

Merit: 3056

Welt Am Draht

It seems to have been bouncing around here for a good while. It's free to do whatever it feels like doing though.

OROBTC

legendary

Activity: 2996

Merit: 1903

...

I hope to buy some tomorrow!

Nobitcoin

legendary

Activity: 966

Merit: 1000

In holiday we trust

Pessimistic as I am this might be the beginning of a drop to $300

Topic: $438 and going down (Read 3443 times)