Pleeeaaassssseeee stop dredging up these old, zombie threads.
No. This is many times more interesting to read than 95% of the new posts.
Topic: How Much Lower are We Going? Already at $2.25 !!! - page 3. (Read 19598 times)
No. This is many times more interesting to read than 95% of the new posts.
Here's a thought as new mining operations come on line there is an increase in the need to cover investment and overhead.
That translates to selling new Bitcoin's the result is a drop in price and selling of more Bitcoin.
When this turns around and we have an increase as those same miners can afford to hold Bitcoin's back pushing the price up.
If this is happening on any scale coins now are being sold at a discount and the wealth transfer is going to subsidies the mining backbone of Bitcoin.
And the true squeeze will come in the latter half of 2016. But whenever it happens supply will be limited from the mining side and come from the limited savings side.
That translates to selling new Bitcoin's the result is a drop in price and selling of more Bitcoin.
When this turns around and we have an increase as those same miners can afford to hold Bitcoin's back pushing the price up.
If this is happening on any scale coins now are being sold at a discount and the wealth transfer is going to subsidies the mining backbone of Bitcoin.
And the true squeeze will come in the latter half of 2016. But whenever it happens supply will be limited from the mining side and come from the limited savings side.
I have been thinking the same thing for awhile.
The latest ramp that started in early 2013 aligns with when the first ASICs started to hit the market. ASIC miners were so profitable that anyone running them only needed to sell a small fraction of their mined BTC to cover electricity & costs.
Once the majority of total mining went to ASIC miners, the supply of mined coins dried up, and so up went the price.
A year later and difficulty finally caught up, and today miners have to sell a good portion of their mined BTC to cover electricity & costs. So the supply of mined coins rose back up a the same time as the price stagnated and fell.
Over time the supply of mined coins will re-drop according to the schedule. The price action the last time the supply of mined BTC reduced, is a good predictor of what will happen when the supply of mined BTC is reduced by the schedule.
These old threads can be very relevant to today's discussion about price speculation, and bring some nostalgia to those of us that were around then. I was a lurker on BCT at the time and had only started buying Bitcoin a month earlier at the then outrageous price of 5.41 CAD. The First Pirate Savings and Trust later to become the Bitcoin Savings and Trust had just been launched https://bitcointalksearch.org/topic/bitcoin-savings-and-trust-home-closed-50822. The latter is so significant since the First Pirate Savings and Trust was predicated on the premise that Bitcoin can only continue to keep going down in price.
Pleeeaaassssseeee stop dredging up these old, zombie threads.
Just curious as to your thoughts on this recent decline in trading price.
Manipulated? Bound to happen, nature of Bitcoin? Are we heading to $1.00 BTC soon
Thanks for your insights.
SJ
Manipulated? Bound to happen, nature of Bitcoin? Are we heading to $1.00 BTC soon
Thanks for your insights.
SJ
I've no idea, and doubt that more than a few people really do. I'm planning to double down one more time if we get deep into the 1.xx range and have the ammo on-line to do so. So I kinda hope that we do but will live either way. I would feel much better about a rally if we do get well below the bottom at $2.04 from a month ago (even though I have little interest in or knowledge of technical analysis.)
Just curious as to your thoughts on this recent decline in trading price.
Manipulated? Bound to happen, nature of Bitcoin? Are we heading to $1.00 BTC soon
Thanks for your insights.
SJ
Manipulated? Bound to happen, nature of Bitcoin? Are we heading to $1.00 BTC soon
Thanks for your insights.
SJ
I don't think so , I think bitcoin price will be 200-220 for a long time
Here's a thought as new mining operations come on line there is an increase in the need to cover investment and overhead.
That translates to selling new Bitcoin's the result is a drop in price and selling of more Bitcoin.
When this turns around and we have an increase as those same miners can afford to hold Bitcoin's back pushing the price up.
If this is happening on any scale coins now are being sold at a discount and the wealth transfer is going to subsidies the mining backbone of Bitcoin.
And the true squeeze will come in the latter half of 2016. But whenever it happens supply will be limited from the mining side and come from the limited savings side.
That translates to selling new Bitcoin's the result is a drop in price and selling of more Bitcoin.
When this turns around and we have an increase as those same miners can afford to hold Bitcoin's back pushing the price up.
If this is happening on any scale coins now are being sold at a discount and the wealth transfer is going to subsidies the mining backbone of Bitcoin.
And the true squeeze will come in the latter half of 2016. But whenever it happens supply will be limited from the mining side and come from the limited savings side.
this is me from 2017
1 BTC = $35168546846876876546543213216546879679854241213516854684687687654654321321654687967985424121
1 BTC = $35168546846876876546543213216546879679854241213516854684687687654654321321654687967985424121
This has to be the most interesting threads on here in awhile... =)
"fairly baffling and somewhat aggravating. "
That about sums up the current situation. A price of $200 per coin makes no logical sense given everything we know.
I know what you mean, no one in his right mind would pay 200+$ for a Bitcoin, this is absurd. But don´t worry we will soon get back to normal prices in the lower double digits range.
"fairly baffling and somewhat aggravating. "
That about sums up the current situation. A price of $200 per coin makes no logical sense given everything we know.
Dude, I was reading this and thinking people were being facetious and just dividing the price by 100.
Then I realized this actually was from 2011.... wow, what an interesting read now in these scary times.
Then I realized this actually was from 2011.... wow, what an interesting read now in these scary times.
In 4 more years, people will dig up threads from 2015 and laugh at these ridiculously low predictions and prices. And say "why didn't I listen when they told me to buy for $220" and "I could have been rich if I invested in 2015".
Just get yourself some bitcoins, even if it's just a fraction of a Bitcoin, you will be glad you did in 2020.
It's so crazy. I'm one of the loudest bitcoin supporters on the internet... and I can clearly see how it simply *can't* happen any other way. Bitcoin must explode in value, though I confess not to be able to predict the time frame (major players and game theory above calculation).
But even though I'm a true believer, even I have trouble looking at the price of $220 and imagining that it will be $10,000+ by 2020. It just seems so impossible... and yet it will happen.
All I can do is buy as many as I can right here and now, and trust the logical part of my brain vs. the emotional one.
i started buying coins in $2 range and back then i remember reading people saying it will drop to $1.50 or $1.25 or even $1 and it even made me think twice about buying a load between $2 and $6
luckily i didnt listen to the FUD and kept buying but im sure many people dumped at $5 when they thought it was going back to $1 .....lol
fast forward 2 short years and they could have dumped at $1200 lol
reminds me of this current situation where people are relucatant to buy in at $200 even though in a couple of years there probably will not be any coins under $1k .........
I hear you; I started going in hard at $350 (about where I felt we had hit severely undervalued) and have been buying/buying/buying all the way down to current levels... even though it hurts to watching your purchase lose value in front of your eyes you simply don't know where the bottom is... and once the true bottom is hit, human fear (of the deal you just missed out on) and "I'll wait for it to go back down" paralysis will set in.
The correct decision is many times the one that's hardest emotionally to do. Buying low while the price is dropping protects you from your own stupidity and hesitation later.
I wish I hadn't of blown of bitcoin back at the $2 level, but the past no longer exists and $3 billion value for all bitcoins is probably one of the most absurd mis-valuations in the world today... though I do wonder if Dogecoin (current market cap of about $10 million) will one day make people laugh at the idea of buying a million of them for about $100.
Anyway, better to discover and believe in bitcoin now vs. on it's meteoric ascent through the thousands of dollars per coin.... coming soon.
Dude, I was reading this and thinking people were being facetious and just dividing the price by 100.
Then I realized this actually was from 2011.... wow, what an interesting read now in these scary times.
Then I realized this actually was from 2011.... wow, what an interesting read now in these scary times.
I was in a period of frustration here. I would never characterize things as 'scary', but they were fairly baffling and somewhat aggravating. I was sure that there was a lot of potential since there had not yet been the half-expected catastrophic bug and it was baffling to me that the prices got as low as they did. I just said 'fuck it...I'm going to follow my own theories about what the values for a system with it's capabilities could be' and at around this time I was really thinking that this was a gift for those of us who missed the early 2011 prices. A second chance. Also, at that time I felt that I was doing a good thing for the solution by mopping up some excess liquidity since the price decline had gotten a lot of people to give up hope. I had download the source code in 2010 but didn't compile it because I would need to port it to my secure platform and I got tied up buying some property instead. When I got back to it we had already crossed the mid 2011 peak.
Dude, I was reading this and thinking people were being facetious and just dividing the price by 100.
Then I realized this actually was from 2011.... wow, what an interesting read now in these scary times.
Then I realized this actually was from 2011.... wow, what an interesting read now in these scary times.
In 4 more years, people will dig up threads from 2015 and laugh at these ridiculously low predictions and prices. And say "why didn't I listen when they told me to buy for $220" and "I could have been rich if I invested in 2015".
Just get yourself some bitcoins, even if it's just a fraction of a Bitcoin, you will be glad you did in 2020.
Dude, I was reading this and thinking people were being facetious and just dividing the price by 100.
Then I realized this actually was from 2011.... wow, what an interesting read now in these scary times.
Then I realized this actually was from 2011.... wow, what an interesting read now in these scary times.
i started buying coins in $2 range and back then i remember reading people saying it will drop to $1.50 or $1.25 or even $1 and it even made me think twice about buying a load between $2 and $6
luckily i didnt listen to the FUD and kept buying but im sure many people dumped at $5 when they thought it was going back to $1 .....lol
fast forward 2 short years and they could have dumped at $1200 lol
reminds me of this current situation where people are relucatant to buy in at $200 even though in a couple of years there probably will not be any coins under $1k .........
Dude, I was reading this and thinking people were being facetious and just dividing the price by 100.
Then I realized this actually was from 2011.... wow, what an interesting read now in these scary times.
Then I realized this actually was from 2011.... wow, what an interesting read now in these scary times.
How much lower!?!
Thing is that exchange rates can fluctuate. When it is rising people cheering, when it's dropping people are crying.
And in the end BTC1 is still exactly BTC1
True, because a lot of people are in this game for the fiat.And in the end BTC1 is still exactly BTC1
They totally forget and ignore the thing you just said.
Jump to: