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Topic: How many bitcoins will you buy at 8$? - page 2. (Read 5335 times)

hero member
Activity: 614
Merit: 500
October 27, 2012, 01:37:00 PM
#33
None for $8.00 / BTC. But if it dropped to something ridiculous like $1.00 / BTC or lower I would probably buy as many as possible to sit on.  Cool


This depends on uptake by common folk - not crusaders, not criminals, not technical gurus.  Otherwise, it's only economic contribution will continue to be a way to transmit value for folks who don't like traditional transfers or can't use traditional transfers - which is a very niche market - realistically this is a no or little growth area.  In other words, common folk will only hold it for a short-time, days, ie buy some BTC, trade BTC for goods or services, but never store it for the fear of loosing value.


Niche market? Ever heard of System D?

Perhaps you're the new Nagle.
newbie
Activity: 36
Merit: 0
October 27, 2012, 01:18:02 PM
#32
None for $8.00 / BTC. But if it dropped to something ridiculous like $1.00 / BTC or lower I would probably buy as many as possible to sit on.  Cool

I'm pretty sure that >90% of the people that say stuff like: "if it dropped to $1 I'd buy shitloads" would not even read the forum any more should that happen. Plus: They would've shouted: "Oh my god, Bitcoin is dead because of " all the way down.


Bitcoin will appear dead - it may even actually be dead until the next cycle.  The problem here is that there may not be a next cycle.  This is just part of the affect of an unregulated system - cycles.  There is no one here that will defend BTC, ie act as a buyer of last resort.  This is a pure market function.  Price stability plays no role in pure capitalism.

Most folks would rather have a stable currency rather than one that swings for the fences.  For Bitcoin to grow beyond it's current purpose and stop being a vehicle for speculation, it needs to be a virtual currency that can store value over the long term.  This depends on uptake by common folk - not crusaders, not criminals, not technical gurus.  Otherwise, it's only economic contribution will continue to be a way to transmit value for folks who don't like traditional transfers or can't use traditional transfers - which is a very niche market - realistically this is a no or little growth area.  In other words, common folk will only hold it for a short-time, days, ie buy some BTC, trade BTC for goods or services, but never store it for the fear of loosing value.  In that case, it will continue to swing due to un-smoothed demand and availability.  The growth of available BTC is a fix daily amount if we disregard BTC traders/speculators - BTC is not elastic.  There is no entity that can add or absorb liquidity to stabilize the value of BTC.  If common folk believe that BTC is a stable store of value, they will hold it.

As for the original question, none at 8.  It's an imperfect question.  Really this question fundamentally assumes that it will go above 8 again, that may not be true.  Personally I believe, it has much further to fall than 8, and once it falls thru 6.1, it may not see 5.8 until the next cycle.   If I was seriously concerned about people losing money, I would advise folks to do a technical analysis and look at the chart and figure out the most likely support/resistance level...which to me means around 6.1-5.8 (it's a moving target).  However, that doesn't mean it won't move lower, so I would further advise folks to keep a reserve in order to double down at the next resistance level.  But I would also be wary of external affects, such changes to MtGox.  Or the declaration by the US or UK that bitcoin is persona non grata.  

I believe that BTC/USD is in a super down trend right now, and all technical indicators will be late indicators.
donator
Activity: 2772
Merit: 1019
October 27, 2012, 12:18:11 PM
#31
None for $8.00 / BTC. But if it dropped to something ridiculous like $1.00 / BTC or lower I would probably buy as many as possible to sit on.  Cool

I'm pretty sure that >90% of the people that say stuff like: "if it dropped to $1 I'd buy shitloads" would not even read the forum any more should that happen. Plus: They would've shouted: "Oh my god, Bitcoin is dead because of " all the way down.
full member
Activity: 157
Merit: 100
Hello! I'm back. RIP Hal <3
October 27, 2012, 12:01:29 PM
#30
None for $8.00 / BTC. But if it dropped to something ridiculous like $1.00 / BTC or lower I would probably buy as many as possible to sit on.  Cool
legendary
Activity: 1834
Merit: 1019
October 27, 2012, 10:30:15 AM
#29
buy fiat

Quote from: cedivad
I'm interested on an estimation of the volume required for such a trade.

You'd need to buy about $1.3M to push the price down to $3.00 or $1.5M to take it to $2.00

(or less, if you believe that more people will remove their bids then add new asks during a sudden crash)

ftfy. confusing, right?

I like it though.
donator
Activity: 2772
Merit: 1019
October 27, 2012, 10:29:21 AM
#28
buy fiat

Quote from: cedivad
I'm interested on an estimation of the volume required for such a trade.

You'd need to buy about $1.3M to push the price down to $3.00 or $1.5M to take it to $2.00

(or less, if you believe that more people will remove their bids then add new asks during a sudden crash)

ftfy. confusing, right?
hero member
Activity: 728
Merit: 500
In cryptography we trust
October 27, 2012, 10:23:16 AM
#27
buy fiat

Quote from: cedivad
I'm interested on an estimation of the volume required for such a trade.

You'd need about $1.3M to push the price down to $3.00 or $1.5M to take it to $2.00

(or less, if you believe that more people will remove their bids then add new asks during a sudden crash)
sr. member
Activity: 560
Merit: 256
October 27, 2012, 10:15:40 AM
#26
buy fiat

Quote from: cedivad
I'm interested on an estimation of the volume required for such a trade.
hero member
Activity: 868
Merit: 1002
October 27, 2012, 10:08:16 AM
#25
Oh adam. Caught out short AGAIN?
donator
Activity: 2772
Merit: 1019
October 27, 2012, 09:24:22 AM
#24
None, i'll just patiently wait till they drop under 3 or 2 usd... expecting that to happen before the halving of the reward.

None, order did not get filled ;(
donator
Activity: 2772
Merit: 1019
October 27, 2012, 09:23:18 AM
#23

A crash in price could benefit early ASIC adopters in the short term by slowing sales of ASIC devices.  So there is incentive to make that happen.


Interesting.

But how can one (or more) make that happen?

buy fiat
legendary
Activity: 1176
Merit: 1001
October 27, 2012, 08:29:28 AM
#22

A crash in price could benefit early ASIC adopters in the short term by slowing sales of ASIC devices.  So there is incentive to make that happen.


Interesting.

But how can one (or more) make that happen?
I'm interested on an estimation of the volume required for such a trade.
sr. member
Activity: 560
Merit: 256
October 27, 2012, 08:22:42 AM
#21

A crash in price could benefit early ASIC adopters in the short term by slowing sales of ASIC devices.  So there is incentive to make that happen.


Interesting.

But how can one (or more) make that happen?
hero member
Activity: 535
Merit: 500
October 26, 2012, 08:21:11 AM
#20
 None. SELL, SELL, SELL!  Grin
legendary
Activity: 1193
Merit: 1003
9.9.2012: I predict that single digits... <- FAIL
October 26, 2012, 06:00:08 AM
#19
Been there, done that... Let's move up  Cheesy
sr. member
Activity: 333
Merit: 250
October 26, 2012, 01:00:28 AM
#18
At $8, I'm holding out for a lower price.

A crash in price could benefit early ASIC adopters in the short term by slowing sales of ASIC devices.  So there is incentive to make that happen.

member
Activity: 85
Merit: 10
October 26, 2012, 12:01:48 AM
#17
I am in @ $6, - 0 is missing from the pole
+1 for the missing option
I'd only buy at $6 if it dropped to $5 and started back up.
legendary
Activity: 1372
Merit: 1000
October 25, 2012, 07:19:05 PM
#16
I am in @ $6, - 0 is missing from the pole
legendary
Activity: 1008
Merit: 1000
October 25, 2012, 04:48:32 PM
#15
all pay attention please
we now know that adamstgbit's bitcoins average value is around 8USD...  Tongue

Or he is at least planning on making a buy there.
sr. member
Activity: 387
Merit: 250
October 25, 2012, 03:50:38 PM
#14
all pay attention please
we now know that adamstgbit's bitcoins average value is around 8USD...  Tongue
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