Topic: Price will be $5 by the end of this month - page 2. (Read 3803 times)
5$ per BTC would be realy bad, because we had to rethink our pricing (and reprogramming the interface too ;-)
We started http://leech.io/feature.php - a file hoster proxy, so you can access all the popular file hoster with one account.
We started http://leech.io/feature.php - a file hoster proxy, so you can access all the popular file hoster with one account.
I'm sure that the idea of running a program on your computer to "mine" coins appeals to just about everyone, so you get an influx of coins...but like all markets it's going to have its peaks and valleys
The bitcoin algorithms makes sure a constant amount of coins are generated until the limit is reached. So more miners doesn't mean coins are generated faster, it means the difficulty of meaning will increase.
I know that's how it is supposed to work, but doesn't the "difficulty" effectively control the rate at which coins are generated? If there is a sudden burst of hashing power then it could result in more coins being generated before the difficulty adjusts to compensate. To an extent I think something like that happened within the last few days.
I'm sure that the idea of running a program on your computer to "mine" coins appeals to just about everyone, so you get an influx of coins...but like all markets it's going to have its peaks and valleys
The bitcoin algorithms makes sure a constant amount of coins are generated until the limit is reached. So more miners doesn't mean coins are generated faster, it means the difficulty of meaning will increase.
Mining is definitely not a way for the average joe to make extra money. You have to be dedicated and know what you are doing.
Sums it up, I'd take the cards back imo.
Bitcoin just received a massive media blitz and many people previously unaware of Bitcoin's existence are now suddenly interested in it. I'm sure that the idea of running a program on your computer to "mine" coins appeals to just about everyone, so you get an influx of coins...but like all markets it's going to have its peaks and valleys.
The finite number of bitcoins will certainly drive their value up that limit is approached, and those who are mining today may be able to sell 0.1 BTC for $5 rather than 1.0 BTC for $5...in other words $50 per BTC...but the real benefit isn't exchanging BTC for a real currency - it's using BTC as currency itself.
The finite number of bitcoins will certainly drive their value up that limit is approached, and those who are mining today may be able to sell 0.1 BTC for $5 rather than 1.0 BTC for $5...in other words $50 per BTC...but the real benefit isn't exchanging BTC for a real currency - it's using BTC as currency itself.
Unless some new hardware increases hashing significantly, the ever increasing difficulty rate will ensure only a few will be able to make a profit from mining ("few" being relative here to the average user.) So current mining rigs are currently reaching their limit and pushing the break even price further down the road. That is, until the Bitcoin/USD sky rockets and makes it profitable again.
But I strongly feel mining and Bitcoin exchange are closely related which should help stabilize the market (if speculators weren't screwing things up enough.)
But I strongly feel mining and Bitcoin exchange are closely related which should help stabilize the market (if speculators weren't screwing things up enough.)
boris_37, $7 puts are likely extremely cheap on bitoption.org if you want to make a bet on that kind of price movement.
I'm guessing that we'll see controlled sell off until we reach past the $5 mark. The price will oscillate back up eventually. The recent news cycle on bitcoins has generated interest that will translate into higher valuation as bitcoin sees adoption for commercial use.
You know what. I really hope it drops to $5.. I would be incredibly happy.
$5 does 2 things
1) Scares off all the people casually doing this. Now i know you don't NEED to be a hardcore farmer to get it, but it will scare off enough people it will stabalize the difficulty a bit for a little while.
2) Give people the option to buy again. @ $20 it's a bit too steep for my tastes.
$5 does 2 things
1) Scares off all the people casually doing this. Now i know you don't NEED to be a hardcore farmer to get it, but it will scare off enough people it will stabalize the difficulty a bit for a little while.
2) Give people the option to buy again. @ $20 it's a bit too steep for my tastes.
This looks like a troll post.
Subject says "Price WILL be $5 by the end of this month"
His actual post says "Do you guys think that the price will be at $5/1BTC by the end of this month?"
Enough said. Stop feeding the troll.
Subject says "Price WILL be $5 by the end of this month"
His actual post says "Do you guys think that the price will be at $5/1BTC by the end of this month?"
Enough said. Stop feeding the troll.
That's what I hear but if trojans keep stealing people's coin by the thousands and the robbers sell them on mt gox, the USD is going to dry up and people are going to give it up.
That's the only people that I know that would sell so many bitcoins at 1 time and take that big of a loss
That's the only people that I know that would sell so many bitcoins at 1 time and take that big of a loss
Do you guys think that the price will be at $5/1BTC by the end of this month?
Glad to see you're out of the hospital. First "the rapture", now the vague BTC prediction.
Because if it is drops anymore I'd have to take my 3 5830 back to Frys.
Please do. Fewer miners means more BTC for me.
You sound upset. lol
There will be little (relatively speaking) dips now and then, but long term the price is only going up.
Someone just sold a shitton of bitcoin.
Because if it is drops anymore I'd have to take my 3 5830 back to Frys.
Please do. Fewer miners means more BTC for me.
Do you guys think that the price will be at $5/1BTC by the end of this month?
Glad to see you're out of the hospital. First "the rapture", now the vague BTC prediction.
Based on no calculations whatsoever, I'm 98.3% positive that the value of BTC will be greater than or less than $5. So quick... buy or sell!!!
Just hold on to it bro. All we can do now is hope for the best, but if it does hit $5 by the end of this month I don't think it'll come back up.
I think that it's likely we'll see some more of a drop, but it could likely come back up in time - what it's going to take is a better economy outside of simply trading bitcoins for money. If/when we see more sites taking them for more 'normal' purposes, there will be more of an incentive to spend them. What's the final value going to be - don't know. But that's not something that we'll know for a long time - even if it goes through a long down period.
Bitcoins are either worth zero or thousands each. Much depends on events as they unfold. Better clients developed with user friendliness in mind will help. As will more vendors taking Bitcoins. And of course, one can't ignore monetary policy. A bet on Bitcoins is a bet on the future. Day to day ups and downs are relatively meaningless imo.
Based on no calculations whatsoever, I'm 98.3% positive that the value of BTC will be greater than or less than $5. So quick... buy or sell!!!
Just hold on to it bro. All we can do now is hope for the best, but if it does hit $5 by the end of this month I don't think it'll come back up.
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