Darn you Jalum. I was waiting for $7 to buy back in and missed the low at $10.5
(well, to buy 30 dollars worth of bitcoin actually, so no huge loss)
Topic: BTC will be below $11 by Tuesday, probably be below $7 by Friday. (Read 8353 times)
June 12, 2011, 09:27:06 AM
By maintaining this as a community of bitcoin devotees who understand this is more than a get-rich-quick scheme, we will grow more steadily and on a firmer foundation.
preach on brother
June 12, 2011, 07:57:54 AM
Up to $17. I'm just annoyed that I had no cash in my mtgox account to buy at 10.
$14 is the new $10
June 12, 2011, 07:51:45 AM
Up to $17. I'm just annoyed that I had no cash in my mtgox account to buy at 10.
June 12, 2011, 06:28:46 AM
The trading pool is so easily manipulated that I can't help wonder if a crash is the goal of an individual who intends to buy out immense quantities of bitcoins at minimal prices.
Why does everyone assume the falling price is due to manipulation, or that someone will now jump in and buy up massive quantities of BTC? What if the falling price reflects economics: you can't do anything with BTC (apart from a few very minor retailers, and web hosting companies, yawn). If I was running a retail shop there's no way I'd ever take BTC. I don't fancy getting $100 of value today for a sale and have it plummet to $40 within 4 days.
I for one bought in mass at $11.9 just some hours ago.
Not saying whether I sell them all at the current price or save them in BTC wallet, I'm saying it's profitable.
The lower it drops in the very-short-term the more profit there is to be made.
June 12, 2011, 05:56:29 AM
Unfortunately, there are still lots of idiot investors, lol
When I was 16 I bought some USD while they were high to wait a bit till they rise even more. Since I lost 30% of investment, I had my lesson. Seems not everyone does.
When I was 16 I bought some USD while they were high to wait a bit till they rise even more. Since I lost 30% of investment, I had my lesson. Seems not everyone does.
That's because not everyone has ever lost 30% or more. That's just part of the process. I lost 50% after the dot com bubble.
June 12, 2011, 04:15:58 AM
went up to 15 at one point and down to 13.69 as i post
June 12, 2011, 02:53:26 AM
Unfortunately, there are still lots of idiot investors, lol
When I was 16 I bought some USD while they were high to wait a bit till they rise even more. Since I lost 30% of investment, I had my lesson. Seems not everyone does.
When I was 16 I bought some USD while they were high to wait a bit till they rise even more. Since I lost 30% of investment, I had my lesson. Seems not everyone does.
June 12, 2011, 02:49:45 AM
down to $10 now. wow.
So those that bought the bitcoins to run up the price to $30+ is selling it back now for $10??
Usually you should buy low and sell high, not buy high sell low.
So those that bought the bitcoins to run up the price to $30+ is selling it back now for $10??
Usually you should buy low and sell high, not buy high sell low.
June 12, 2011, 02:17:04 AM
but u didn't sell me any @ 12 , your loss!
June 12, 2011, 01:16:19 AM
Oh hey look $11.
June 12, 2011, 12:46:36 AM
The trading pool is so easily manipulated that I can't help wonder if a crash is the goal of an individual who intends to buy out immense quantities of bitcoins at minimal prices.
Why does everyone assume the falling price is due to manipulation, or that someone will now jump in and buy up massive quantities of BTC? What if the falling price reflects economics: you can't do anything with BTC (apart from a few very minor retailers, and web hosting companies, yawn). If I was running a retail shop there's no way I'd ever take BTC. I don't fancy getting $100 of value today for a sale and have it plummet to $40 within 4 days.
This is an anomalous decline. Bitcoin has generally increased in value, sometimes slowly sometimes quickly, declines have generally been followed by increases fairly soon.
There was definitely a bubble which popped, but I expect prices to start back up again fairly soon, if, perhaps, at a slightly slower rate.
June 11, 2011, 10:38:38 PM
The trading pool is so easily manipulated that I can't help wonder if a crash is the goal of an individual who intends to buy out immense quantities of bitcoins at minimal prices.
Why does everyone assume the falling price is due to manipulation, or that someone will now jump in and buy up massive quantities of BTC? What if the falling price reflects economics: you can't do anything with BTC (apart from a few very minor retailers, and web hosting companies, yawn). If I was running a retail shop there's no way I'd ever take BTC. I don't fancy getting $100 of value today for a sale and have it plummet to $40 within 4 days.
June 11, 2011, 10:27:47 PM
I wonder how low it'll bottom out at? I've been a miner until now, but at this rate ...
The trading pool is so easily manipulated that I can't help wonder if a crash is the goal of an individual who intends to buy out immense quantities of bitcoins at minimal prices.
The trading pool is so easily manipulated that I can't help wonder if a crash is the goal of an individual who intends to buy out immense quantities of bitcoins at minimal prices.
June 11, 2011, 10:21:02 PM
Bitcoins are only getting started.
Welcome to the forums.
Yes, BTC is just a baby, lots of growth to do soon.
June 11, 2011, 08:39:49 PM
That's a strawman. I never said that nothing bad happens in the regular FX market. However, I at least know that my broker is giving me correct information, my money will still be there tomorrow, and that the market is too large to be manipulated by any one person/entity.
That's why they (the central banks) have central authority to set interest rates (to manipulate a big market in an elegant way).
Money still there tomorrow
That is funny, dont you remember Lehman brothers? Friday all peachy, Monday total meltdownhttp://www.newser.com/story/37459/lehman-crash-triggers-global-market-tumble.html
Brokers manipulate information it has being done many times over
June 11, 2011, 08:36:44 PM
There seems to be lots of posters out to scare the price down at the min I cant think why
They may not be opportunists, it might just be schadenfreude
June 11, 2011, 08:32:23 PM
Freemasons are on the attack.
If you don't think the freemasons are fighting bitcoin, you're naive at best, a conspirator at worst.
Does anyone think its odd that suddenly brand new posters are making uninformed, negative comments that all seem to follow the same talking points? Or that it seems coordinated with other attacks on facebook, youtube, and other social media.
They're coordinating across all the lodges to smear bitcoins, of course. Why wouldn't they? Bitcoins are a direct assault on their power. For those of you who don't know, those are freemason symbols on your paper fiat money. They run it, and they don't like competition.
Expect more run ups in price as the freemasons use their paper USD wealth to bounce the market up and down and poo poo btc every time they do a sell off.
The smart ones will listen to their rhetoric, and use it to time their buys and sells.
If you don't think the freemasons are fighting bitcoin, you're naive at best, a conspirator at worst.
Does anyone think its odd that suddenly brand new posters are making uninformed, negative comments that all seem to follow the same talking points? Or that it seems coordinated with other attacks on facebook, youtube, and other social media.
They're coordinating across all the lodges to smear bitcoins, of course. Why wouldn't they? Bitcoins are a direct assault on their power. For those of you who don't know, those are freemason symbols on your paper fiat money. They run it, and they don't like competition.
Expect more run ups in price as the freemasons use their paper USD wealth to bounce the market up and down and poo poo btc every time they do a sell off.
The smart ones will listen to their rhetoric, and use it to time their buys and sells.
June 11, 2011, 08:30:09 PM
Possibly these very negative posts do serve a good purpose...By maintaining this as a community of bitcoin devotees who understand this is more than a get-rich-quick scheme, we will grow more steadily and on a firmer foundation.
Speaking as a non-speculating noob, I'm with you. I think it would be tragic for this rather ingenious system to be destroyed by cry-baby speculators. Anyone who knows anything about market pricing should be able to spot a price bubble, and the bitcoin chart is a classic.
Whenever a bubble is forming around a commodity, the talk around those who are speculating is always "this one is different". In this case, there has never been an international cryptocurrency before.
This article is pretty good - it's Australian focused but it applies generally
http://www.rba.gov.au/publications/confs/2003/simon.pdf
If you cant be bothered reading through it all, just look at the charts, the slopes of the lines and all the rest.
When the fuss is over hopefully bitcoin can revert to what it was meant to be - an electronic medium of exchange. I'm never planning on hoarding them, only using them so I don't really care what the price is so long as it is relatively stable in the short term. Volatility of 50% in one week is not doing anyone who is trying to encourage "real" businesses to accept bitcoin any favours (speaking personally)
Tim
June 11, 2011, 08:10:02 PM
I'd say $15.
Jump to: