BTC Going back to $100 - page 3. | Bitcointalksearch.org

jinson

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Quote from: bitcoinisfurture on December 07, 2013, 04:56:56 AM

Quote from: jinson on December 07, 2013, 04:51:45 AM

I think most users are confusing buysellbitco.in with other large exchanges like, Gox, Coinbase, BTCe etc. BSB operate sort of like a single party who buy/sell bitcoin from the community. They have a variable transaction limit and their business greatly depends on the market stability. There are other individuals who do the same business here, but they do without a store front. None of them will sell BTC during a crash, because they have gained their share of experience surviving these. So it is understandable why BSB pull down the curtains during a crash.

Even I wish to put some money on BTC during this crash, but for that I should go to an international exchange where I can make instant buy/sell decisions.

Hey Jinson, well then how would you then help new users understand this when the prices are low everyone would like to buy. But as you said no body would like to sell during crash, so what will new users think that only when the price reaches at certain level they will be selling and at that time we will not be able to buy. So what should be the solution as every time during the crash it will not be willing to sell as per the previous experience. So should all time at high rates only it should be purchased. just trying to understand this.

Also, say tomorrow it goes down to 300-400 and for 2 weeks it stays at that level then in that case what will be scenario?

Hi Buddy,
This is clearly a matter of individual choice. As we speak the market very volatile. It can go up or down $100 or more within minutes. People who bought the coins for higher price might panic and sell to cut their losses. Such intense volatility does not happen often. But when it settles, no matter if it settles at $400 or $1500, normal trade resume. This has happened before. But I believe this crash will be a short lived one.

ajax3592

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Quote from: legendster on December 07, 2013, 05:06:50 AM

See ? Everyone who wants to cash in, wants BTC to hit the lowest FLOOR it can during the crash and hence this.

Personally, I want it to crash as low as possible to get into it since I've seen it go from 230 to 1200 in a month. BUT BTC for me is more than just another means to cash on, I believe in its ideology of decentralization and one world currency and not to forget the instant global transactions.
It is politically correct to me, the idea of bitcoin.

Edit: let's not forget to celebrate the fact more and more Indians are wanting BTC (no matter if they want to cash in or just for the feel of it) which in long run is going to shoot the price.

Benson Samuel

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legendster, stop leaving nested quotes throughout the thread.

bitcoinisfurture

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Quote from: legendster on December 07, 2013, 05:06:50 AM

Quote from: bitcoinisfurture on December 07, 2013, 05:00:19 AM

Quote from: legendster on December 07, 2013, 04:56:39 AM

Quote from: bitcoinisfurture on December 07, 2013, 04:48:13 AM

Quote from: legendster on December 07, 2013, 04:39:49 AM

Quote from: bitcoinisfurture on December 07, 2013, 04:33:31 AM

Quote from: legendster on December 07, 2013, 04:26:58 AM

Quote from: bitcoinisfurture on December 07, 2013, 04:24:14 AM

Quote from: Benson Samuel on December 07, 2013, 04:19:58 AM

Quote from: bitcoinisfurture on December 07, 2013, 04:16:54 AM

Quote from: legendster on December 07, 2013, 04:11:56 AM

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Well even if many users want to buy they can't since the site is not allowing them to buy at this moment. So automatically when people reads that the leading site itself is fearful as they think it may crash further so dont want to sell at this point, users get more feared and want to sell their bitcoins at whatever rates they are getting. This is actually creating more fear among us.

It shouldn't create fear.

Anyone who has been around Bitcoin long enough has seen these crashes and climbs more times than you can imagine.

What China has done is to make Bitcoin even more valuable. By disconnecting banks, people will figure out new ways to trade Bitcoins and since there is no easy way of money transfer, this will directly impact the price of Bitcoin.

This of course, is a theory.

Well, see I am failing to understand the simple logic of why not site should be up.

If the site has coins, let users who want to trade since many have being waiting like me to purchase at some point since its only few extra if people have invests in this as their is chance to loose the money as well. And if again it goes back to 50000 INR + and site start operating it, people like me again will be back seated and will wait for the price to fall as we could not have that risk appetite which others may have.

Lets say you are a SITE.
You buy coins to curb your user's demands.
You invest your own money & profit money into increasing your stocks.
And suddenly this happens. NOW you run the risk of bankruptcy if you dont cash out soon enough. BUT if you do, you will add further to the crash.
So what would you do ?

How much % of the coins you buy form others? As majority of the coins which users sell to the site, the site sells to the others users who want to buy form you. In return you are already charging the fees and transaction fees from both buyer and seller of the users. Also, as new users enters you will have more users who will purchase from you and at a point will be selling to you. So again you have the fees from them too. But if it crosses at certain point few may restrict them to enter in this market, which in turn means you lost few users (buy/sell transaction from them)

Agreed.
BUT what if you were to - in your own safeguard - convert all the coins your got from sellers in your site into CASH ? JUST to avoid this kind of crash and volatility of the market ?
Again, The coins that the SITE acquires from the users are paid by the site upfront at the current rate NOW if the crash swing is over $500 in one night then how do you think will the site be able to support itself. Face it, its not a donation camp but a business and a Business aint a Business if there aint no profit.
Besides, ask the owners of ANY EXCHANGE even in their best days the Coins they get from buying from the customer are never enough to cover the order demand.

*JUST to inform you guys, the coins are rising now. BTC at $700

Yes agreed to you on few points, but I doubt a bitcoin optimist like buysellbitco.in would be cashing at this point when they know it has much better potential then 1000$ or so. Also if few users sell at this point, there are other users who are ready to buy as well. So again you have the demand too so aint you losing on one side itself as users are not selling only, few others are buying too. Had it being one side case like every one is just selling and no one is buying tends to put your point absolutely. correct

You look very enthusiastic, are you looking to buy or just advocating for the users that are looking to buy ?

Haha, nice one Wink

. Well nowdays hardly anyone advocates on behalf of others, as no one have time since priorities have changed. Want to buy certainly but if it crosses at a certain level again I am back to square one. So again just have to wait and watch itself. Nothing else.

See ? Everyone who wants to cash in, wants BTC to hit the lowest FLOOR it can during the crash and hence this.

This should be told to users who hold multiples BTC and have sold in bulk. For users who hardly have in fractions does not apply to them. Tongue

legendster

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