Author

Topic: First bubble? (Read 13423 times)

legendary
Activity: 2128
Merit: 1008
December 21, 2014, 09:52:52 PM
#38
and i guess 95% of the people back then cashed out at 10 $  Cheesy


yep, what a true ponzi scheme Bitcoin is!  all those early adopters selling for  $7.50 profit sure were the lucky ones!  Cheesy Grin Roll Eyes
legendary
Activity: 1148
Merit: 1005
In Satoshi I Trust
December 21, 2014, 05:50:22 PM
#37
and i guess 95% of the people back then cashed out at 10 $  Cheesy
legendary
Activity: 1061
Merit: 1001
December 21, 2014, 02:22:21 PM
#36
Think it's interesting to keep threads like this alive for hostorical purposes and for noobs to be able to look at history of btc and for research imo
legendary
Activity: 2590
Merit: 1268
December 21, 2014, 12:25:58 PM
#35
I don't know why there is an unwritten rule about not bumping old threads.

I saw many got banned for it. I guess is up to if anyone report you and which moderator then resolve it.

Banned for it?!? What could be the justification for banning someone for bumping an old thread? Most new threads are meaningless. Old threads give us perspective

I know some got banned. I guess because of unwritten rule. Since is not written. When you get banned they dont explain you why you were exactly. But that guy bumped 2 year old thread last.
And to add it how bizarre this was i can also say, that thread was in Off topic.
sr. member
Activity: 462
Merit: 250
December 21, 2014, 05:53:59 AM
#34
50 BC = $2.50? Surely this isn't sustainable even at the current difficulty Wink

Then again, all about supply and demand. If this is what the market demands, then go get your PCs ready, cause there's a gold rush in town!

OMG 2.50 for 1 block! This is too much! I'm not buying!
The interest is a joke, it make BC will die at last.
hero member
Activity: 602
Merit: 500
hyperboria - next internet
December 21, 2014, 05:51:04 AM
#33
50 BC = $2.50? Surely this isn't sustainable even at the current difficulty Wink

Then again, all about supply and demand. If this is what the market demands, then go get your PCs ready, cause there's a gold rush in town!

OMG 2.50 for 1 block! This is too much! I'm not buying!
legendary
Activity: 1260
Merit: 1107
December 21, 2014, 01:53:54 AM
#32
I don't know why there is an unwritten rule about not bumping old threads.

I saw many got banned for it. I guess is up to if anyone report you and which moderator then resolve it.

Banned for it?!? What could be the justification for banning someone for bumping an old thread? Most new threads are meaningless. Old threads give us perspective
sr. member
Activity: 378
Merit: 250
December 20, 2014, 10:03:02 AM
#31
How shocked it is to look backwards.  Shocked

Very shocked. I don't know why there is an unwritten rule about not bumping old threads. They're fascinating

I first thought OP was about BlackCoin (BC) but mods don't encourage bumping old threads apparently
legendary
Activity: 2590
Merit: 1268
December 20, 2014, 09:59:59 AM
#30
I don't know why there is an unwritten rule about not bumping old threads.

I saw many got banned for it. I guess is up to if anyone report you and which moderator then resolve it.
newbie
Activity: 1
Merit: 0
December 20, 2014, 09:26:32 AM
#29
How shocked it is to look backwards.  Shocked

Very shocked. I don't know why there is an unwritten rule about not bumping old threads. They're fascinating

Nice you are only 2 years late.
legendary
Activity: 1260
Merit: 1107
December 20, 2014, 09:04:36 AM
#28
How shocked it is to look backwards.  Shocked

Very shocked. I don't know why there is an unwritten rule about not bumping old threads. They're fascinating
hero member
Activity: 714
Merit: 500
January 05, 2012, 09:47:43 AM
#27
How shocked it is to look backwards.  Shocked
legendary
Activity: 1512
Merit: 1001
January 05, 2012, 08:03:43 AM
#26
Look out, another bubble?! What's old is new again!



.08 was, if not a bubble, a spike, since it is down to .05 now.  I'm betting on it going down a bit more before it starts climbing again.

(of course, I'm only planning on buying like 10 dollars worth of bitcoins anyways, so it's not a real momentous decision)
I wonder if he sold those 200 coins for $6000 at the top of the last bubble... or doubled his money at .10
hero member
Activity: 938
Merit: 500
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July 17, 2010, 09:11:53 PM
#25
true,  I guess we find out on Monday if it is going to go up, down, or stay the same.  I predict a fall to about 2 or 3 cents before a more gradual climb resumes.
sr. member
Activity: 252
Merit: 255
July 17, 2010, 06:31:04 PM
#24
Click on the Market tab and then click the double triangles next to the Price heading.
hero member
Activity: 938
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July 17, 2010, 06:27:16 PM
#23
how do I find that?  I have been browsing the market kind of obsessively today. I have noticed that trade volume is down significantly from yesterday, which I think means price will decrease, for a bit. 
sr. member
Activity: 252
Merit: 255
July 17, 2010, 04:48:46 PM
#22
The high and low price doesn't update while the market is closed, but offers still get listed and you can sort them by price which allows you to see the high and low price.
hero member
Activity: 938
Merit: 500
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July 17, 2010, 04:18:11 AM
#21
.08 was, if not a bubble, a spike, since it is down to .05 now.  I'm betting on it going down a bit more before it starts climbing again.

(of course, I'm only planning on buying like 10 dollars worth of bitcoins anyways, so it's not a real momentous decision)
When comparing spikes, don't compare closing prices to opening prices. There are benefits to being the lowest/highest offer when the market opens. For example, right now the high bid is $0.10 and the low ask is $0.05, which will result in a trade at $0.75, which is better than either person's bid or ask. Now suppose there was a bid at $0.99, and after the market opened, someone offered an ask for $0.99. He didn't get the first trade and ends up spending more money than the person who had a higher bid at the beginning of the day. The same is true for an ask of $0.049 that goes through at that price. If he had gotten the higher bid, he could have gotten about $0.75, but instead he only ends up getting $0.49.

And there goes my trading advantage. Cry Don't never say I ain't never not given you nothin'. Kiss

I may be reading the page wrong, but it looks to me like the bid is .05 and the ask is .055555 (at least on paypal, which was what I was looking at before)

I understand what you are saying about an advantage of being the opening trade, would this be something which was likely to drive the price of bitcoins in dollars up or down though?

(edit) so looking at the trading data the opening bid was, indeed, .1  how did you know that?
sr. member
Activity: 252
Merit: 255
July 17, 2010, 04:09:44 AM
#20
.08 was, if not a bubble, a spike, since it is down to .05 now.  I'm betting on it going down a bit more before it starts climbing again.

(of course, I'm only planning on buying like 10 dollars worth of bitcoins anyways, so it's not a real momentous decision)
When comparing spikes, don't compare closing prices to opening prices. There are benefits to being the lowest/highest offer when the market opens. For example, right now the high bid is $0.10 and the low ask is $0.05, which will result in a trade at $0.75, which is better than either person's bid or ask. Now suppose there was a bid at $0.99, and after the market opened, someone offered an ask for $0.99. He didn't get the first trade and ends up spending more money than the person who had a higher bid at the beginning of the day. The same is true for an ask of $0.049 that goes through at that price. If he had gotten the higher bid, he could have gotten about $0.75, but instead he only ends up getting $0.49.

And there goes my trading advantage. Cry Don't never say I ain't never not given you nothin'. Kiss
hero member
Activity: 938
Merit: 500
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July 17, 2010, 03:43:06 AM
#19
.08 was, if not a bubble, a spike, since it is down to .05 now.  I'm betting on it going down a bit more before it starts climbing again.

(of course, I'm only planning on buying like 10 dollars worth of bitcoins anyways, so it's not a real momentous decision)
full member
Activity: 224
Merit: 104
July 17, 2010, 02:58:46 AM
#18
It's also good there are already as many vendors as there are selling stuff. To help maintain growth and usability, we need people to continue to trade goods and services and continue to use bitcoins as the median.

I know many are using paypal to cash out after receiving, but think of it this way. If you have bitcoins, say you received them for a service, and you use them to buy goods from someone else, there is 0% transaction fee to use bitcoins. Better than pecunix, paypal, or traditional credit cards.

There is a small transaction fee for using bitcoins.  Not everybody is getting charged that fee at the moment, but it is something that is happening even now.  Those transaction fees go to the node operators for "large" transaction that take a bit more processing for whatever reason in the network.  I don't know all of the details, but it is something built into the network.

Regardless, it certainly is a much smaller transaction fee than the other payment methods, and a heck of a lot less than credit or debit cards.  With the fees that merchants pay for credit card sales, I actually go out of my way to make sure I pay cash for purchases at a small Mom & Pop store in my town explicitly so they can end up keeping more of the money I'm giving to them (pulling it out of an ATM where possible prior to the purchase).  Large box stores I really don't care about, as they already have "special" arrangements with banks for these fees anyway.  If I am without cash and using plastic anyway, I also try to explicitly request "POS debit" instead of "credit" even if the store clerk is clueless about the issue for the same reason... it makes a difference in terms of profits to the store.
full member
Activity: 224
Merit: 104
July 16, 2010, 10:57:22 PM
#17
While not a perfect indicator, if you want to speculate about this being a bubble or not and to what level of trade it will end up going to after awhile, I would suggest looking at this page:

http://sourceforge.net/project/stats/?group_id=244765&ugn=bitcoin

While interest is waning from the peak spike with the Slashdot story, interest still remains strong with triple digit numbers for downloads.  Certainly that indicates a sustain increase in participation from an earlier date and that Bitcoins has come up on the radar screen.  It also went from being ranked at about 30k out of all Source Forge projects to moving up to one of the top 1000.  That is significant.

I don't know how long this will be sustained, but it does indicate that a huge increase in demand has happened with Bitcoins, and that not only are coins being much harder to generate, but that many more people are trying to use them.

I'd agree, however, that it remains to be seen if this can be sustained or what the final sustainable levels of interest will be after this spike.
hero member
Activity: 938
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July 16, 2010, 10:35:11 PM
#16
I'm definitely not accusing anyone of pumping and dumping bitcoins. On the penny stock forums they were. It just made me laugh. If I were to ever do penny stocks, I need to be on the inside list of the people that hop on the train first and you can spot when it's time to dump.

I really wonder if they will go lower. Cost to generate quadrupled today, from it's triple a few days ago. Costs to generate are very high, and there are a lot of people trading them for goods and services. It's a very exciting thing to see happen that's for sure!

It's definitely exciting.  Makes me glad I got in when I did, and makes me wish I had been in longer.  If it drops soon I'll most likely be trading in some dollars for bitcoins, but I am still of the opinion it's a bubble for now and will drop.
hero member
Activity: 938
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July 16, 2010, 10:29:45 PM
#15
Has anyone ever played with penny stocks and how they pump and dump them in discussion forums? I never have, but I've read about them haha. I'm not saying this is by any means, but for a good laugh think about this:

Someone points out a stock surging. A bunch of people buy in, and it goes even higher. There is no reason it should be where it is at based on performance, revenues, etc. All the guys in the forum are saying, keep buying, it's not a bubble. You don't know they are selling all their stock haha... price starts to dip. Everyone rushes out. Bubble pops.

What makes me made, is last week, I saved and saved because I wanted to sell a big chunks of coins at the same time. I sold some stuff on the forums, etc. Sold a chunk of 10,000 bc's for $50 Smiley lol... sure made me feel dumb this week! Let alone the $25 amazon card I just bought for $250 in todays value.

That's why I don't play in the stock market. I SUCK AT IT haha

Definitely seems there are a lot more people that want bitcoins than are available at the moment. Almost $2000 USD were traded on the market today !

I wouldn't go so far as to accuse people of doing a pump and dump.  I think some may be misplacing their optimism however.  I don't know, but I would guess that this is a bubble and that prices will go back down in a short time, although perhaps not as low as they used to be, and I do expect them to go considerably higher in the relatively short term (as in a year or so)
hero member
Activity: 938
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July 16, 2010, 06:17:59 PM
#14
That could actually also be a bubble.  Although a different kind of one.  On the other hand it could be a real increase in interest in bitcoins, which would be great if it allows for a real economy to start growing.

I think the mention on Global Guerillas may have caused some of the interest, I know that is where I came from.
db
sr. member
Activity: 279
Merit: 251
July 16, 2010, 06:05:26 PM
#13
.08 on paypal?  That's like twice the price from yesterday isn't it?  There is definitely some bubbling going on.

Not necessarily. The generating cost quadrupled today:

https://bitcointalksearch.org/topic/m.3488
hero member
Activity: 938
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July 16, 2010, 05:22:47 PM
#12
.08 on paypal?  That's like twice the price from yesterday isn't it?  There is definitely some bubbling going on.  I wish I had been in bitcoins earlier and had more built up, I'd totally help deflate it.  Oh well, I am sure another will come along later when I have more bitcoins.
full member
Activity: 202
Merit: 108
GCC - Global cryptocurrency
July 15, 2010, 10:33:43 PM
#11
There were some offers made in error today.  Whenever this occurs, I try to rectify it as best as I can.  I need to make it a little easier when placing an offer and have some error detection.  Also, I'm working on a better way to generate quotes, so errors can be eliminated quicker.  More work to do. Smiley
newbie
Activity: 14
Merit: 0
July 15, 2010, 03:26:58 PM
#10
Until there is a non-zero number in the volume column a market has not been made (or is there a programming problem with the front page exchange display?)


The volume currently shown is as of the last update which happens every 2 minutes.  So when a trade occurs the volume will show up only until the next update.

You can see the total daily volume and prices by downloading the Intraday .csv file from the "Trends" page.
sr. member
Activity: 429
Merit: 272
July 15, 2010, 03:20:18 PM
#9
Merchants will just have to adjust their rates - nobody will pay 10,000 BTC for a pizza anymore  Grin
newbie
Activity: 50
Merit: 0
July 15, 2010, 03:19:39 PM
#8
Until there is a non-zero number in the volume column a market has not been made (or is there a programming problem with the front page exchange display?)
newbie
Activity: 14
Merit: 0
July 15, 2010, 03:03:08 PM
#7
Wow!

PayPalUSD     85.0     0.045     42.5225     1000
legendary
Activity: 860
Merit: 1015
July 15, 2010, 02:53:38 PM
#6
WTF ?
Quote
All Bid Offers
ID   Date & Time      Currency   Quantity   Price   Total
579   2010-07-15 13:54:10   PayPalUSD   1000   21.0   21000.0
i guess this should be 0,021 and not 21. what a pitty ^^


wait... what ?
Quote
Summary Last Update: 2010-07-15 14:00:11
Currency      Bid   Ask      Price      Volume
PecunixGAU      0.0   0.000499   0.000368   0
LibertyReserveUSD   0.0   0.04      0.02      0
MoneyBookersUSD   0.004   0.045      0.0001      0
PayPalUSD      0.03   0.0479      42.5225      0
member
Activity: 70
Merit: 11
July 15, 2010, 02:51:35 PM
#5
wow, the (asked) exchange rate doubled today.
hope this won't make the people hord the coins even more but spend it for useful things or exchange them.

The higher the value goes, the more tempting it will be to spend them. This is what ultimately keeps the price in line with supply & demand in a non-propped market.

The unpredictable question is... if, where, and when? Wink
legendary
Activity: 860
Merit: 1015
July 15, 2010, 02:24:15 PM
#4
wow, the (asked) exchange rate doubled today.
hope this won't make the people hord the coins even more but spend it for useful things or exchange them.
member
Activity: 70
Merit: 11
July 15, 2010, 02:14:38 PM
#3
Where is this?

On bitcoinmarket current market value is 1 BTC = $0.0295 or 50 BTC = $1.46


I based it off of this:
Quote
PayPalUSD   0.045   0.05
newbie
Activity: 14
Merit: 0
July 15, 2010, 02:12:13 PM
#2
Where is this?

On bitcoinmarket current market value is 1 BTC = $0.0295 or 50 BTC = $1.46
member
Activity: 70
Merit: 11
July 15, 2010, 01:54:10 PM
#1
50 BC = $2.50? Surely this isn't sustainable even at the current difficulty Wink

Then again, all about supply and demand. If this is what the market demands, then go get your PCs ready, cause there's a gold rush in town!
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