- Lead time from hearing to buying. It took more than a year from my first contact with bitcoin, to buy ANY. (Expect a rally in 2014, based on the current events.)
- Difficulty in obtaining them, since most of the platforms are incredibly risky (bitcoin exchange half-life of <12 months).
- Bitcoin price logarithmic trendline is 26% per month. It means a double at exactly every 3 months. We were getting a bit ahead in March.
Topic: So, everyone knows about Bitcoin now... why isn't the price going up? (Read 4855 times)
April 17, 2013, 03:56:28 AM
April 17, 2013, 03:16:16 AM
-===-
April 17, 2013, 02:57:20 AM
https://soundcloud.com/deepbreathinc/train-passing-by
It's going up. It's just giving you another chance to get some cheap coins.
April 17, 2013, 02:31:04 AM
I actually feel a lot better at todays price than 200+ days , more solid , down to the earth feelings .
Yeah I know what you mean, it was so frantic in those days. It definitely feels like the hysteria is gone, and what do you know? the volume is back up, no one wanted to sell at 200, who knows how high it could have gone, but of course we know that answer now. Who the hell was jacking up the price? there was barely any volume during that time.
April 17, 2013, 12:26:57 AM
I was promised cheap coins and I'll get them! 
April 17, 2013, 12:18:01 AM
Too many people "Waiting for cheap coins"
Sadddd
Sadddd
April 16, 2013, 11:30:50 PM
We all just need to give Bitcoin a little push every day.
April 16, 2013, 11:00:42 PM
I actually feel a lot better at todays price than 200+ days , more solid , down to the earth feelings .
Yeah I know what you mean, it was so frantic in those days. It definitely feels like the hysteria is gone, and what do you know? the volume is back up, no one wanted to sell at 200, who knows how high it could have gone, but of course we know that answer now. Who the hell was jacking up the price? there was barely any volume during that time.
If you can convince people that the trend is down, even those only wanting BTC will be tempted to sell then re-buy cheaper to increase their holding in coins. Conversely while the price was skyrocketing these same people likely didn't want to sell and be left out of the game. I don't think most people make their buy or sell decisions based solely on what dollar value they place on their bitcoins vs what the current price is.
+1
I love your thinking! These people are gaining market share and re-envigorating Bitcoin with demand at the cost of bitcoin prices. Very interesting I do know that strategy, increase market share when the markets are low and keep on buying.
April 16, 2013, 09:26:02 PM
I actually feel a lot better at todays price than 200+ days , more solid , down to the earth feelings .
Yeah I know what you mean, it was so frantic in those days. It definitely feels like the hysteria is gone, and what do you know? the volume is back up, no one wanted to sell at 200, who knows how high it could have gone, but of course we know that answer now. Who the hell was jacking up the price? there was barely any volume during that time.
If you can convince people that the trend is down, even those only wanting BTC will be tempted to sell then re-buy cheaper to increase their holding in coins. Conversely while the price was skyrocketing these same people likely didn't want to sell and be left out of the game. I don't think most people make their buy or sell decisions based solely on what dollar value they place on their bitcoins vs what the current price is.
April 16, 2013, 09:20:54 PM
Even after all the coverage very few people know about Bitcoin.
http://community.spiceworks.com/topic/321788-bitcoin-mining-scheme-foiled
Keep in mind those forums are for a community of IT professionals and barely anyone has a clue what bitcoins are.
As a side note SpiceWorks is a pretty awesome free solution to track IT inventory and maintain a ticket system among other things.
http://community.spiceworks.com/topic/321788-bitcoin-mining-scheme-foiled
Keep in mind those forums are for a community of IT professionals and barely anyone has a clue what bitcoins are.
As a side note SpiceWorks is a pretty awesome free solution to track IT inventory and maintain a ticket system among other things.
April 16, 2013, 06:17:39 PM
If I sell everything now I make a 30k profit, if I hold out I may make nothing
April 16, 2013, 05:59:55 PM
Volume has skyrocketed. It just awes me that so many people are willing to sell right now than they were at 200. If you were so confident in Bitcoin as to not sell at $200, why are you following herd mentality and selling at the low point? Boggles my mind...
Lost confidence.
April 16, 2013, 05:56:20 PM
I actually feel a lot better at todays price than 200+ days , more solid , down to the earth feelings .
Yeah I know what you mean, it was so frantic in those days. It definitely feels like the hysteria is gone, and what do you know? the volume is back up, no one wanted to sell at 200, who knows how high it could have gone, but of course we know that answer now. Who the hell was jacking up the price? there was barely any volume during that time.
April 16, 2013, 10:15:24 AM
I actually feel a lot better at todays price than 200+ days , more solid , down to the earth feelings .
Yeah I know what you mean, it was so frantic in those days. It definitely feels like the hysteria is gone, and what do you know? the volume is back up, no one wanted to sell at 200, who knows how high it could have gone, but of course we know that answer now. Who the hell was jacking up the price? there was barely any volume during that time.
April 16, 2013, 10:08:33 AM
It is nearly impossible to buy.
Mining is really the only way. I wanted to buy 50k worth, you cannot. The exchanges act like they are brokers also and none seem worthy of any trust whatsoever. Most do not accept wire transfers (WTF???) and many suggest you go buy a money order?
? What kind of legitimate business does that?
Basically, I would rather send $50k to that Nigerian General's wife that keeps emailing me.
Coinbase lets you buy plenty. Mining is really the only way. I wanted to buy 50k worth, you cannot. The exchanges act like they are brokers also and none seem worthy of any trust whatsoever. Most do not accept wire transfers (WTF???) and many suggest you go buy a money order?
? What kind of legitimate business does that?Basically, I would rather send $50k to that Nigerian General's wife that keeps emailing me.
April 16, 2013, 10:07:37 AM
It was fully my expectation that when "mainstream" news got out about Bitcoin that we'd see a lot more people buying in. I see more and more people and companies wanting to use it, so why aren't we seeing a price increase?
I figure it's due to one of four reasons:
1) Lag time between hearing about it and actually buying some.
2) Difficulty in buying Bitcoins.
3) It was previously overvalued.
4) Many people have heard of it for the first time, and do not yet believe in it; they are waiting to "see what happens" before they dive in to the world of Bitcoin.
Thoughts?
I figure it's due to one of four reasons:
1) Lag time between hearing about it and actually buying some.
2) Difficulty in buying Bitcoins.
3) It was previously overvalued.
4) Many people have heard of it for the first time, and do not yet believe in it; they are waiting to "see what happens" before they dive in to the world of Bitcoin.
Thoughts?
Everyone knows about it but there is no working infrastructure. Gox is broken.
April 16, 2013, 09:42:32 AM
I'll keep posting these until everyone understands what it means. It answers the question in the thread title.
So, yes, lots of people know about bitcoin, but enough people who know about them and own some don't want them anymore. The ask depth on MtGox is the highest it's been in 6 months and is a little more than 5x what it was just before the crash. People were fooled into thinking the supply of bitcoins was low relative to the demand. It isn't. And over time we'll see the price reflect this fact as more and more people internalize it. We will see low double digits, and when people get sufficiently off-put by that, we'll see the price collapse into the single digits.
So, yes, lots of people know about bitcoin, but enough people who know about them and own some don't want them anymore. The ask depth on MtGox is the highest it's been in 6 months and is a little more than 5x what it was just before the crash. People were fooled into thinking the supply of bitcoins was low relative to the demand. It isn't. And over time we'll see the price reflect this fact as more and more people internalize it. We will see low double digits, and when people get sufficiently off-put by that, we'll see the price collapse into the single digits.
summary: there's a bunch of idiots out there who are selling their coins cheap, then in a few years when Amazon.com starts accepting coins, these same ppl are gonna be the ppl kicking themselves. coins always move to stronger hands. always. good for us long bulls.
Hahahaha how new are you?
April 16, 2013, 09:34:32 AM
Are you counting those who bought high and still didn't sell as having 'lost'? Your confidence that the game's over does not make it so. I'd be interested in your reasoning or figures behind the 'lots of people lost a Lot claim.
Well, at least I can say that lots of people made a lot selling at the right time. Where did that lot come from?
April 16, 2013, 07:22:45 AM
I actually feel a lot better at todays price than 200+ days , more solid , down to the earth feelings .
April 16, 2013, 07:13:13 AM
Lots of people lost a LOT of money...
Did they though? Although difficult to get an accurate picture due to goxlag I'd got the impression it took very little money to take the price down a long way because the bids evaporated on the way down as people realised they'd be able to get cheaper by waiting.Are you counting those who bought high and still didn't sell as having 'lost'? Your confidence that the game's over does not make it so. I'd be interested in your reasoning or figures behind the 'lots of people lost a Lot claim.
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