Bitcoin dropping, I love it. - page 2.

Syke

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Quote from: bryant.coleman on April 10, 2014, 08:46:59 AM

Do you think any shopkeeper will trust a currency which goes from $1,200 to $400 in a month's time?

The exchange rate volitility is a minor issue. It'll go away over time. Merchants can accept bitcoins without having to fear fraud, counterfeits, or chargebacks. If they aren't comfortable with the volitility, they can be exchanged instantly for fiat. There is no safer payment method for a merchant than bitcoins.

iraszl

sr. member

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Enthusiast

I just wrote about this here: http://www.reddit.com/r/Bitcoin/comments/22p5yh/three_scenarios_explored_for_btc_price_in_2014/

I think it will grow on long term, but we can't tell if it's still going down or not.

bryant.coleman

legendary

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Quote from: romerun on April 10, 2014, 09:19:09 AM

when sellers are done selling, we then have new solid blood of btc hodlers, and the next rally shall start

The next rally will not start when the sellers are done selling. The next rally will start when there is a sudden surge in the demand for Bitcoin. Remember, the last surge was caused by the increasing demand from China.

Dafar

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dafar consulting

Quote from: coinnewbit on April 10, 2014, 09:30:56 AM

Quote from: Dafar on April 10, 2014, 09:29:10 AM

Quote from: YogoH on April 10, 2014, 09:27:24 AM

Its funny cause bitcoin has a way of rewarding the ones who believe in bitcoin and punishing those just looking for money. These adoption bubbles are good shit.

What if I believe in bitcoin AND want to make money?

How do you go about doing so?

Buy and hold?

coinnewbit

sr. member

Activity: 266

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Quote from: Dafar on April 10, 2014, 09:29:10 AM

Quote from: YogoH on April 10, 2014, 09:27:24 AM

Its funny cause bitcoin has a way of rewarding the ones who believe in bitcoin and punishing those just looking for money. These adoption bubbles are good shit.

What if I believe in bitcoin AND want to make money?

How do you go about doing so?

Dafar

legendary

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dafar consulting

Quote from: YogoH on April 10, 2014, 09:27:24 AM

Its funny cause bitcoin has a way of rewarding the ones who believe in bitcoin and punishing those just looking for money. These adoption bubbles are good shit.

What if I believe in bitcoin AND want to make money?

hilariousandco

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Quote from: Beef Supreme on April 10, 2014, 09:04:06 AM

Quote from: hilariousandco on April 10, 2014, 08:42:26 AM

Quote from: Beef Supreme on April 10, 2014, 08:36:34 AM

Who said I am buying at 400? You keep selling, and eventually my buy price will be reached.

The big money will be back as soon as it hits 800 again. Hopefully they will lose their ASS again. Rinse and repeat.

Then whatever price you buy in at, or don't, since you'll probably wait too long and miss out. It sounds like you're the one who just wants to turn a profit.

Unlike some people, I buy BTC for usage also. I wish I could use it everywhere. Paying for gas would be nice.

What does it matter what price you buy in at then? And we wont be able to spend it everywhere if shit like this keeps happening. I'd love to spend it too, but certainly not today or any time soon at the current price.

YogoH

sr. member

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Its funny cause bitcoin has a way of rewarding the ones who believe in bitcoin and punishing those just looking for money. These adoption bubbles are good shit.

Example: My buddy invested at 200 last april and sold after it burst to 80. I kept my bitcoin bought more. He was mad but eventually rebought and now is holding paper wallet to never sell.

romerun

legendary

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Bitcoin is new, makes sense to hodl.

when sellers are done selling, we then have new solid blood of btc hodlers, and the next rally shall start

Catswold

sr. member

Activity: 518

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Teething problems, nothing more.

I expect this roller-coaster ride on value to continue for a couple more years. Except for those of us here, the whole concept of an electronic currency is a frightening, new, futuristic concept. That means that governments will continue to struggle with it for some time.

Expect changes in the IRS decisions and evolution of how all states address the topic.

As for predictions, $200-300 is my guess.

To ride this coaster, you've got to have a 5-10 year outlook. Eventually, prices will stabilize and BTC will evolve from what is now clearly a "commodity" into the currency it was intended to be.

. . . Then again, I could be full of BS. Grin

Beef Supreme

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Put your trust in MATH.

Quote from: hilariousandco on April 10, 2014, 08:42:26 AM

Quote from: Beef Supreme on April 10, 2014, 08:36:34 AM

Who said I am buying at 400? You keep selling, and eventually my buy price will be reached.

The big money will be back as soon as it hits 800 again. Hopefully they will lose their ASS again. Rinse and repeat.

Then whatever price you buy in at, or don't, since you'll probably wait too long and miss out. It sounds like you're the one who just wants to turn a profit.

Unlike some people, I buy BTC for usage also. I wish I could use it everywhere. Paying for gas would be nice.

Why you ask? Buying power my friend. Fiat is backed with the "good faith of a government" (yak yak), while Bitcoin is backed by the BLOCKCHAIN and a buttload of hashing power.

uhoh

hero member

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Circle gets the Square

Quote from: Dafar on April 10, 2014, 08:51:44 AM

Oh look another one of these topics

I don't care if you're the best investor of all time but you don't know how long this dip will continue and when it will end. It's too bad I bought in around $600-$800.... now the newbs who get into bitcoin now will profit much more than me.

I would buy more but I already put in more than I'm "willing to lose"

Last year the same people were berating the people who bought in at $250... Those people potentially quintupled their investments over 12 months. Such... Short... Memories...

hilariousandco

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Quote from: Lauda on April 10, 2014, 08:44:58 AM

Quote from: hilariousandco on April 10, 2014, 08:31:33 AM

Though it's not going to be very good for you if it keeps dropping. Maybe people will be laughing at you in a few months' time for buying at 400.

That's highly unlikely. Where are the people who laughed at buyers when the price dropped to 60-70$ back in July/August last year?

Maybe, but there could always be a point where Bitcoin just plummets to new lows for whatever reason.

Quote from: bryant.coleman on April 10, 2014, 08:46:59 AM

You might be happy because you are able to buy more. But in general, this can be extremely band news for Bitcoin. Do you think any shopkeeper will trust a currency which goes from $1,200 to $400 in a month's time?

Exactly my point. If you believe in Bitcoin as a currency then the constant drops and fluctuations aren't very good at all and only scare most people away.

bigdave

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I'm buying but not heavily. Waiting for the bottom to be reached (or what I think the right price point will be) and then I'll unload and stock up.

Dafar

legendary

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dafar consulting

Oh look another one of these topics

I don't care if you're the best investor of all time but you don't know how long this dip will continue and when it will end. It's too bad I bought in around $600-$800.... now the newbs who get into bitcoin now will profit much more than me.

I would buy more but I already put in more than I'm "willing to lose"

MarkusORT

newbie

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i love it too!!!!

i think itll go to 300$ and than at the end of the year back to 1000$ Wink

$$$

bryant.coleman

legendary

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You might be happy because you are able to buy more. But in general, this can be extremely band news for Bitcoin. Do you think any shopkeeper will trust a currency which goes from $1,200 to $400 in a month's time?

Lauda

legendary

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Terminated.

Quote from: hilariousandco on April 10, 2014, 08:31:33 AM

Though it's not going to be very good for you if it keeps dropping. Maybe people will be laughing at you in a few months' time for buying at 400.

That's highly unlikely. Where are the people who laughed at buyers when the price dropped to 60-70$ back in July/August last year?

hilariousandco

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Quote from: Beef Supreme on April 10, 2014, 08:36:34 AM

Who said I am buying at 400? You keep selling, and eventually my buy price will be reached.

The big money will be back as soon as it hits 800 again. Hopefully they will lose their ASS again. Rinse and repeat.

Then whatever price you buy in at, or don't, since you'll probably wait too long and miss out. It sounds like you're the one who just wants to turn a profit.

Beef Supreme

full member

Activity: 140

Merit: 100

Put your trust in MATH.

Who said I am buying at 400? You keep selling, and eventually my buy price will be reached.

The big money will be back as soon as it hits 800 again. Hopefully they will lose their ASS again. Rinse and repeat.

Topic: Bitcoin dropping, I love it. - page 2. (Read 3749 times)