the more Bitcoin get spread around, the better. because the more people who have them, the more they will be used.
It reminds me the pump & dump pennystock scheme: from many shares in a few hands, to a few shares in many hands.
Topic: low price because of repeated large sells - page 2. (Read 5610 times)
It reminds me the pump & dump pennystock scheme: from many shares in a few hands, to a few shares in many hands.
I also think it's good in the long term that the price is going down. The late arrivals were complaining that the price was bubbled, too high, and unaffordable to the mainstream...
Well, here you go, maybe it will drop to the more affordable early-adopter levels again - USD parity or whatever...
B worked just as well at 33 US cents, for everyone except short-term speculators...
Yeah, it would work great for everyone but the miners who bought their equipment for, let's say $1k, knowing that it would generate a maximum of, say 60-100 bitcoins over its lifetime due to increasing difficulty. Not cool if BTC drops to 33 cents.
Ie. in order for the miners to stick around, there has to be some sort of reasonable ratio of difficulty to price. At the very least to cover electricity (I get it cheap but it's quite possible that I'll spend half of my earnings on the utility bill this month at the current market prices and a difficulty increase).Ok, as a note - if it is not good to mine, stop - enough stop, difficulty goes down.
Second, if you think yo uare cheap in getting electricity and STILL expect to pay 50% you are delusional. I currently mine on my appartment (end user priceing) and my cost is more like 20%. And next month I switch to a commercial space - rent and all paid from the savings in power costs (only). So, if you pay 50% you do NOT get electricity "quite cheap".
all I am doing right now is mining and hording my coins. not gonna jump into any markets, not going to play any of these gambling games on the forums. Not going to do anything that could harm my Wallet.
I also think it's good in the long term that the price is going down. The late arrivals were complaining that the price was bubbled, too high, and unaffordable to the mainstream...
Well, here you go, maybe it will drop to the more affordable early-adopter levels again - USD parity or whatever...
B worked just as well at 33 US cents, for everyone except short-term speculators...
Yeah, it would work great for everyone but the miners who bought their equipment for, let's say $1k, knowing that it would generate a maximum of, say 60-100 bitcoins over its lifetime due to increasing difficulty. Not cool if BTC drops to 33 cents.
Ie. in order for the miners to stick around, there has to be some sort of reasonable ratio of difficulty to price. At the very least to cover electricity (I get it cheap but it's quite possible that I'll spend half of my earnings on the utility bill this month at the current market prices and a difficulty increase). also agree.
the more Bitcoin get spread around, the better. because the more people who have them, the more they will be used.
yeah, there's a little bit of short-term pain. so what?
a couple of months. maybe even three or four. we need the time for all the software that's being written and refined to bear fruit, anyway.
and then we bury paypal in an unmarked grave...
the more Bitcoin get spread around, the better. because the more people who have them, the more they will be used.
yeah, there's a little bit of short-term pain. so what?
a couple of months. maybe even three or four. we need the time for all the software that's being written and refined to bear fruit, anyway.
and then we bury paypal in an unmarked grave...
My sentiments exactly! May be right on this, maybe not. But I'm strongly leaning on the former, however illogical i may seem to the naysayers of bitcoin viability and acceptance...time will tell, we shall see.
I accessed silk road site & they sell ONLY for bitcoins. They also very much upset about the rapid change in bitcoin price.
Silk road closed 3-4 days before Mtgox attacked/hacked. After Mtgox attack price is VERY stable, which silk road wants VERY MUCH to sell anything.
Silk road closed 3-4 days before Mtgox attacked/hacked. After Mtgox attack price is VERY stable, which silk road wants VERY MUCH to sell anything.
also agree.
the more Bitcoin get spread around, the better. because the more people who have them, the more they will be used.
yeah, there's a little bit of short-term pain. so what?
a couple of months. maybe even three or four. we need the time for all the software that's being written and refined to bear fruit, anyway.
and then we bury paypal in an unmarked grave...
the more Bitcoin get spread around, the better. because the more people who have them, the more they will be used.
yeah, there's a little bit of short-term pain. so what?
a couple of months. maybe even three or four. we need the time for all the software that's being written and refined to bear fruit, anyway.
and then we bury paypal in an unmarked grave...
And not just "the more people who have them the more they will be used", but also this...
the more people that have them, the more varied the sale prices will be. 1 person is more likely to sell 10,000 bitcoins for the same price on a market, as opposed to 100 people each selling 100 bitcoins at competitive prices
I also think it's good in the long term that the price is going down. The late arrivals were complaining that the price was bubbled, too high, and unaffordable to the mainstream...
Well, here you go, maybe it will drop to the more affordable early-adopter levels again - USD parity or whatever...
B worked just as well at 33 US cents, for everyone except short-term speculators...
Well, good points. I'm more in it for the short-term gain right now, simply because I bought my miners with money that should have gone towards bills and food. But also, I think this is a valid point of view because if the miners don't make a profit, there's not much incentive to mine, and thus the hash rate and security will drop. But yeah, let's get it over with.
But also, I think this is a valid point of view because if the miners don't make a profit, there's not much incentive to mine, and thus the hash rate and security will drop. But yeah, let's get it over with.
If some early adopter sell his 99999 coins to get out of the game and he doesn't bother to sell at 13 because they costed nothing to generate, yes, we'll have a little price drop, but now that 99999 coins will be in hands of someone that will value that coins and know that they worth a lot more than 13
also agree.
the more Bitcoin get spread around, the better. because the more people who have them, the more they will be used.
yeah, there's a little bit of short-term pain. so what?
a couple of months. maybe even three or four. we need the time for all the software that's being written and refined to bear fruit, anyway.
and then we bury paypal in an unmarked grave...
the more Bitcoin get spread around, the better. because the more people who have them, the more they will be used.
yeah, there's a little bit of short-term pain. so what?
a couple of months. maybe even three or four. we need the time for all the software that's being written and refined to bear fruit, anyway.
and then we bury paypal in an unmarked grave...
When 1 person sells 10000 coins, maybe 100 people buy 100 coins each.
If this is really what's happening, then I'd prefer to get it over with as soon as possible.
Because after a while the 'early adopter' argument will gradually dissolve.
If this is really what's happening, then I'd prefer to get it over with as soon as possible.
Because after a while the 'early adopter' argument will gradually dissolve.
Pardon me if this is obvious but... I feel like one of the main reasons that the price of bitcoins is hovering around 14, rather than at IDK, 30, 100 , is that there are massive sells every so often. I'm not entirely sure that it's just one seller at a time, but it sure looks that way when I look at the charts. The price will be fairly stable, and then there's like $100K sold in one minute, and the price will drop 50 cents or a dollar. It will slowly recover, surely greatly helped by massive buys at some point. But I feel like it can't get too high because these massive sells always sweep out all of the buy orders.
So it seems to me that there are a few players, whether they're early adopters or big speculators, who are keeping the market a lot lower than it would be otherwise. Mostly because they can't be bothered to sell small amounts at a time. And if any of them read this, please spread out your sells a bit.
, is that there are massive sells every so often. I'm not entirely sure that it's just one seller at a time, but it sure looks that way when I look at the charts. The price will be fairly stable, and then there's like $100K sold in one minute, and the price will drop 50 cents or a dollar. It will slowly recover, surely greatly helped by massive buys at some point. But I feel like it can't get too high because these massive sells always sweep out all of the buy orders. So it seems to me that there are a few players, whether they're early adopters or big speculators, who are keeping the market a lot lower than it would be otherwise. Mostly because they can't be bothered to sell small amounts at a time. And if any of them read this, please spread out your sells a bit.
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