BTC will be below $11 by Tuesday, probably be below $7 by Friday. - page 2.

bombshelterzero

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Quote from: Jalum on June 11, 2011, 07:51:28 PM

Quote from: Rodyland on June 11, 2011, 07:36:58 PM

Does anyone really think that the doomsayers are really being altruistic and are trying to "save us" from the coming catastrophe? Or are they more likely to be trolls, or even people trying to talk down the price so they can buy at $7 rather than at $27?

All I know is that I believe in the idea of bitcoin enough that I'm going to keep buying and mining all the way down. A drop back to $7 (the price where I originally started buying) means I can buy more than I could at $27.

Long live the revolution!

See? This is what I mean by people who are emotionally attached to an idea. Clearly this person is not thinking straight. High price means it's super valuable, low price means it's a great opportunity to buy more?

Do you really think you're part of a revolution? By sitting at home and watching a computer turn nothing into more nothing? You really equate that to actual revolutions that have happened?

Damn right dude..
In a way our friend rodyland is contradicting himself lol...

Jalum

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Quote from: Rodyland on June 11, 2011, 07:36:58 PM

Does anyone really think that the doomsayers are really being altruistic and are trying to "save us" from the coming catastrophe? Or are they more likely to be trolls, or even people trying to talk down the price so they can buy at $7 rather than at $27?

All I know is that I believe in the idea of bitcoin enough that I'm going to keep buying and mining all the way down. A drop back to $7 (the price where I originally started buying) means I can buy more than I could at $27.

Long live the revolution!

See? This is what I mean by people who are emotionally attached to an idea. Clearly this person is not thinking straight. High price means it's super valuable, low price means it's a great opportunity to buy more?

Do you really think you're part of a revolution? By sitting at home and watching a computer turn nothing into more nothing? You really equate that to actual revolutions that have happened?

Rodyland

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Quote from: restomaniac on June 11, 2011, 11:58:01 AM

Whats wrong didnt you get in when the price was low enough Cheesy

There seems to be lots of posters out to scare the price down at the min I cant think why Roll Eyes

[/quote]

Seems funny to me too. The number of people posting "the sky is falling" is crazy. Now if you stop and think about it for a second, if you were a btc holder and did think that the sky was falling and the bubble was popping, what you would do? I put it to you that you'd sell all your btc, post a "solong suckers" if you were inclined but more likely just disappear off the map.

Does anyone really think that the doomsayers are really being altruistic and are trying to "save us" from the coming catastrophe? Or are they more likely to be trolls, or even people trying to talk down the price so they can buy at $7 rather than at $27?

All I know is that I believe in the idea of bitcoin enough that I'm going to keep buying and mining all the way down. A drop back to $7 (the price where I originally started buying) means I can buy more than I could at $27.

Long live the revolution!

Edward50

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I agree with the original poster, the value of bitcoins right now is way too high. There are way too many bitocoins out there to be worth anything substantial. I think the bitcoin can have a good future, but right now with so many new bitcoins coming into the market, plus all the people who have thousands of bitcoins from mining early on, there is no way it can hold any substantial price.

I was saying this when the bitcoin price was $30. I honestly think a fair price is around $3-$10 dollars right now.

dserrano5

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Quote from: d.james on June 11, 2011, 06:46:39 PM

lawl did OP just register a new account to post this?

5 out of their 6 posts are in this thread Tongue

coga

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www.btcbuy.info

OP, if that's what you feel, why are you not cashing out? I run www.btcbuy.info, go there and buy amazon gift cards with all you have. I don't see anybody cashing out at all, as a matter of fact it was an extremely quiet day today.

d.james

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Firstbits: 12pqwk

lawl did OP just register a new account to post this?
I'll buy all your coins @ 12 since it's going down to $11 next tues Tongue

(update: or a few hours)

Jalum

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This dead cat didn't bounce as much as I thought it would. It's going to hit $11 in a few hours at this rate.

em3rgentOrdr

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youtube.com/ericfontainejazz now accepts bitcoin

Quote from: Bimmerhead on June 11, 2011, 12:58:43 PM

Possibly these very negative posts do serve a good purpose. By scaring away speculator noobs who are here just to make a quick buck and don't really understand what bitcoin is, it reduces the risk to the rest of us that someone will lose a pile of money, run to their congressman to whine about it which in turn brings a lot of ill-conceived government regulation.

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.

heavyb

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Quote from: Bimmerhead on June 11, 2011, 12:58:43 PM

Possibly these very negative posts do serve a good purpose. By scaring away speculator noobs who are here just to make a quick buck and don't really understand what bitcoin is, it reduces the risk to the rest of us that someone will lose a pile of money, run to their congressman to whine about it which in turn brings a lot of ill-conceived government regulation.

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.

+10000000000

Jaime Frontero

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Quote from: ?? on ??

Quote from: NielDLR on June 11, 2011, 02:53:16 PM

Quote from: Jalum on June 11, 2011, 01:54:42 PM

Quote from: m0ep on June 11, 2011, 01:47:26 PM

Like that one

I guess it was just a matter of time that price would drop, however I don't agree will all the folks claiming bitcoin's exchange rate will be 5$ in a few days Wink

What I don't like about this price drop is that it might scare away shops that accept Bitcoin..

What can you currently do with bitcoins besides hope to sell them (for USD) to someone else for more (USD) than you paid?

That's where you miss the point. I can't wait for a proper well thorough liquid Bitcoin economy. Already I can buy stuff on numerous sites. I have bought someone's EP before and loved it! I'd buy a lot more, if I was inclined to find something I like. For me, sitting in a country like South Africa, our exchange controls are strict. We were only recently (last year) allowed to withdraw from Paypal. This is why I absolutely love Bitcoin. Yes, I have a credit card, but Bitcoin is just so much more easy. In fact, I wish Bitcoin was here a lot earlier, 'cause it makes digital payments a breeze.

U.S.-centric Bitcoiners would do well to gain insight from posters like NielDLR.

i agree (speaking from the US, but not US-centric).

Bitcoin is most useful in the world. in any (any) given country, not so much.

an effective end to the money-changers. how valuable...

NielDLR

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Quote from: Jalum on June 11, 2011, 01:54:42 PM

Quote from: m0ep on June 11, 2011, 01:47:26 PM

Like that one

I guess it was just a matter of time that price would drop, however I don't agree will all the folks claiming bitcoin's exchange rate will be 5$ in a few days Wink

What I don't like about this price drop is that it might scare away shops that accept Bitcoin..

What can you currently do with bitcoins besides hope to sell them (for USD) to someone else for more (USD) than you paid?

That's where you miss the point. I can't wait for a proper well thorough liquid Bitcoin economy. Already I can buy stuff on numerous sites. I have bought someone's EP before and loved it! I'd buy a lot more, if I was inclined to find something I like. For me, sitting in a country like South Africa, our exchange controls are strict. We were only recently (last year) allowed to withdraw from Paypal. This is why I absolutely love Bitcoin. Yes, I have a credit card, but Bitcoin is just so much more easy. In fact, I wish Bitcoin was here a lot earlier, 'cause it makes digital payments a breeze.

AyeYo

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Quote from: Jaime Frontero on June 11, 2011, 02:02:35 PM

Quote from: AyeYo on June 11, 2011, 12:00:00 PM

Quote from: ?? on ??

Quote from: MatthewLM on June 11, 2011, 11:43:58 AM

I would consider buying if it went under $10 and there was a safe way to buy them. I don't trust those exchange websites. I also want to be able to use my debit card with no crap involved.

Please do not invest in something you do not understand.

He has a legitimate point. Even aside from the inherent dangers of extreme volitility, these exhanges are completely unregulated. There is absolutely nothing insuring that you're getting the real market price, that the charts or market depth are accurate, or even that your money will be there the next time you log in.

If Bitcoins were traded on a legit FX exchange through legit brokers/market makers, I'd probably be a millionaire by now, but I wouldn't touch these completely opaque bucket shops with a 100ft. pole.

"full faith and credit" of the US government?

"full faith and credit" of Bruce Wagner?

pick one.

That has nothing to do with my points. Do you want to address them or just keep ignoring them?

Jaime Frontero

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Quote from: ?? on ??

"full faith and credit" of the block chain.

well, yes.

but the context was exchanges - not the blockchain.

Jaime Frontero

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Quote from: AyeYo on June 11, 2011, 12:00:00 PM

Quote from: ?? on ??

Quote from: MatthewLM on June 11, 2011, 11:43:58 AM

I would consider buying if it went under $10 and there was a safe way to buy them. I don't trust those exchange websites. I also want to be able to use my debit card with no crap involved.

Please do not invest in something you do not understand.

He has a legitimate point. Even aside from the inherent dangers of extreme volitility, these exhanges are completely unregulated. There is absolutely nothing insuring that you're getting the real market price, that the charts or market depth are accurate, or even that your money will be there the next time you log in.

If Bitcoins were traded on a legit FX exchange through legit brokers/market makers, I'd probably be a millionaire by now, but I wouldn't touch these completely opaque bucket shops with a 100ft. pole.

"full faith and credit" of the US government?

"full faith and credit" of Bruce Wagner?

pick one.

Jalum

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Quote from: m0ep on June 11, 2011, 01:47:26 PM

Like that one

I guess it was just a matter of time that price would drop, however I don't agree will all the folks claiming bitcoin's exchange rate will be 5$ in a few days Wink

What I don't like about this price drop is that it might scare away shops that accept Bitcoin..

What can you currently do with bitcoins besides hope to sell them (for USD) to someone else for more (USD) than you paid?

m0ep

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Quote from: Bimmerhead on June 11, 2011, 12:58:43 PM

Possibly these very negative posts do serve a good purpose. By scaring away speculator noobs who are here just to make a quick buck and don't really understand what bitcoin is, it reduces the risk to the rest of us that someone will lose a pile of money, run to their congressman to whine about it which in turn brings a lot of ill-conceived government regulation.

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.

Like that one

I guess it was just a matter of time that price would drop, however I don't agree will all the folks claiming bitcoin's exchange rate will be 5$ in a few days Wink

What I don't like about this price drop is that it might scare away shops that accept Bitcoin..

neptop

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Actually I think it won't stop there. It will go into the negative -10$ is realistic and you'll have to pay to get rid of it! Grin

MatthewLM

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I like the concept of bit coin but would I really use thousands of pounds on these exchange websites which have "USE AT YOUR OWN RISK" written all over them? Nope. I'll continue to invest money in other ways. Maybe I'll lose out but at least I can sleep better at night. I could try it out with a little bit of money but then there is the fact the websites don't make it very easy and if it was easy, I'd still be afraid more money would come from my bank than expected.

What if these exchanges were to be shut down as well?

AyeYo

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Quote from: Grant on June 11, 2011, 12:48:05 PM

Quote from: AyeYo on June 11, 2011, 12:45:26 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).

Like sailing the Titanic with a match stick. They make a rate adjustment and hope for the best.

That's not even remotely comparable to a Bitcoin market in which a single person with even a small chunk of money can buy/sell to themselves and move the market any direction they please.

Topic: BTC will be below $11 by Tuesday, probably be below $7 by Friday. - page 2. (Read 8353 times)