People panic buy to cover shorts, or if there's a shortage of an essential commodity. With Bitcoinica gone and bitcoins not an essential commodity it seems both requirements cannot be met.
If the price starts going exponential again there may be fever pitch buying like in June 2011, but it's a race to see who can buy and cash out before the bubble pops. The panic starts on the way down.
Topic: [POLL] when will the panic buying begin? - page 2. (Read 2576 times)
I got to thinking that not many people (myself included) actually realize how close we are to block reward halving.
The poll is when do you think people will wake up and realize bitcoins aren't going to be any easier to mine nor buy for that matter (at low prices)?
The poll is when do you think people will wake up and realize bitcoins aren't going to be any easier to mine nor buy for that matter (at low prices)?
You are right my friend. Fucking right. I just cancelled my sell orders at 12, 14, 16.
I'm a miner and I've been waiting to sell for 6+ months, for the price to get to 12+. But you are right. 6 more months and the reward goes to 1/2. 1/2 as much BTC being sold by miners should reduce the downward pressure on the market.
The current price upswing seems to be real, on real support. When the selling rate goes down, then price should go even higher.
I've waited a long time to sell. I can wait a while longer.
I think this fall/winter we will have another financial crisis...this could spark many things
no need to wail till fall.
Just look at Germany tomorrow. Germans will have to "save" Spanish banks.
That alone is bad. But what will make for the FUD icing is that it is not decided
who will have to pay for the credit the Germans give to Spanish banks if they cannot
pay it back. Germans want the Spanish goverment to inshure it and the Spanish goverment
will say "WHY?"
Just lean back and watch
I think this fall/winter we will have another financial crisis...this could spark many things
after those who sold into the rally get over their initial euphoria and get a strong visceral sensation
that the dollar ain't what it used to be.
I doubt that there will be much panic buying because of reward halfing.
What counts is what the ASICS owners do with their coins.
that the dollar ain't what it used to be.
I doubt that there will be much panic buying because of reward halfing.
What counts is what the ASICS owners do with their coins.
Dude if they haven't realized it already they're thicker than month old kfc porridge.
Price has a lot to do with my question. If there was a panic....price would not be where it is now...
Dude if they haven't realized it already they're thicker than month old kfc porridge.
I got to thinking that not many people (myself included) actually realize how close we are to block reward halving.
The poll is when do you think people will wake up and realize bitcoins aren't going to be any easier to mine nor buy for that matter (at low prices)?
The poll is when do you think people will wake up and realize bitcoins aren't going to be any easier to mine nor buy for that matter (at low prices)?
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