some moron is basically giving bitcoins for free

kutaka

member

Activity: 97

Merit: 10

Quote from: BusyBeaverHP on October 04, 2014, 07:28:19 PM

I don't know about everyone else, but this is my buying price target:

If it doesn't happen, I'll just have to catch something on the way up.

Dude, this chart is totally taken out of your ass.

indiemax

hero member

Activity: 722

Merit: 500

Quote from: BusyBeaverHP on October 07, 2014, 02:11:35 AM

No bet for me. I think $400 will be reached, then the final capitulation at $200 a month or two from now.

As long as no announcement by the likes of the Winklevoss, SecondMarket, Amazon, or EBay pops out of the blue, we will have to test that trendline I drew... after a bull-trap.

On the other hand, if the final draft of Bitlicense is by some freak chance, favorable, then all bets on testing the ancient trendline are off as well.

Looks's like you you covered everything with that post Grin

BusyBeaverHP

full member

Activity: 209

Merit: 100

No bet for me. I think $400 will be reached, then the final capitulation at $200 a month or two from now.

As long as no announcement by the likes of the Winklevoss, SecondMarket, Amazon, or EBay pops out of the blue, we will have to test that trendline I drew... after a bull-trap.

On the other hand, if the final draft of Bitlicense is by some freak chance, favorable, then all bets on testing the ancient trendline are off as well.

BetMoose

sr. member

Activity: 372

Merit: 250

Real Bets. Real People. By Anyone, on anything

Quote from: yefi on October 05, 2014, 04:44:03 AM

Quote from: BusyBeaverHP on October 04, 2014, 07:28:19 PM

I don't know about everyone else, but this is my buying price target:

If it doesn't happen, I'll just have to catch something on the way up.

The wisest buy-in move would probably be to wait patiently for clear technical confirmation of a trend reversal. The advantage of this is that you are likely to avert any soul-crushing grind in prices that would make you exit your position unfavourably.

Having said that, I'll wager a bet at 200

We actually have someone offering to double your money if it touches $200:

___________

Which price will Bitcoin cross first: $200 or $400?

Options: $200 | $400

Robert Paulson

sr. member

Activity: 448

Merit: 250

Quote from: unpure on October 05, 2014, 02:24:19 AM

Quote from: Robert Paulson on October 04, 2014, 04:10:01 PM

time to load up some next to free bitcoins before the moron runs out of coins to sell.

Bitcoin price is subjected to cost of production. If some ASIC manufactures and mining farms can continue to pump out coin at cheaper price, then they are still profiting from selling at this price.

because of bitcoins adjustable difficulty the cost of production can be anything between almost 0 and infinity

Mellnik

sr. member

Activity: 242

Merit: 250

OMG this is like a dream, NMC for only $0.84. I am going to double my 3000NMC capital as soon as it goes sub 300.

yefi

legendary

Activity: 2842

Merit: 1511

Quote from: BusyBeaverHP on October 04, 2014, 07:28:19 PM

I don't know about everyone else, but this is my buying price target:

If it doesn't happen, I'll just have to catch something on the way up.

The wisest buy-in move would probably be to wait patiently for clear technical confirmation of a trend reversal. The advantage of this is that you are likely to avert any soul-crushing grind in prices that would make you exit your position unfavourably.

Having said that, I'll wager a bet at 200

unpure

full member

Activity: 169

Merit: 100

Quote from: Robert Paulson on October 04, 2014, 04:10:01 PM

time to load up some next to free bitcoins before the moron runs out of coins to sell.

Bitcoin price is subjected to cost of production. If some ASIC manufactures and mining farms can continue to pump out coin at cheaper price, then they are still profiting from selling at this price.

phillipsjk

legendary

Activity: 1008

Merit: 1001

Let the chips fall where they may.

Quote from: exocytosis on October 04, 2014, 05:24:28 PM

I'll laugh when all the bulltards and cultists start panic selling when we hit double digits.

Here's what the bulltards and cultists typically say:

Quote

"When we hit $xxx, I'll buy a ton of coins!!! Promise!!!! I'm just waiting for more weak hands to get shaken out!!!"

I am planning on buying in 2-3 weeks no matter what the price is. Just have to get my ID straightened out (Cavirtex lets you withdrawal CAD unverified but not deposit). I missed selling at the ATH as well (Cold storage FTW!).

twiifm

hero member

Activity: 784

Merit: 500

Quote from: leopard2 on October 04, 2014, 09:18:37 PM

Quote from: matt4054 on October 04, 2014, 05:27:20 PM

We need to downsize both speculation and excessive mining basically exchanging at any rate and constantly, because they can't hoard at the current rate and need to pay for their expanses etc.

tl;dr: going down to 250 maybe worse, in short terms, and then reversing to whatever, we'll see. Bitcoin has seen it before Wink

about the mining:

a. there is a point when no new coins are generated, then this downward pressure will stop and price will explode

b. in the meantime, when prices drop badly, miners cannot afford to keep mining. Result: miners stop, hardware development stops, hash rate drops. Hashrate and price will reach a bottom. Fewer coins will be sold. Then, the cycle will be reset, and prices will climb again.

So a crash will cleanse out the weak hands, and the industrial mining as well, IMHO.

So its a game of monopolizing useless internet funbux. In the future it will be 21 guys who hold a million bitcoins each trading amongst themselves for $10K per coin.

leopard2

legendary

Activity: 1372

Merit: 1014

Quote from: matt4054 on October 04, 2014, 05:27:20 PM

We need to downsize both speculation and excessive mining basically exchanging at any rate and constantly, because they can't hoard at the current rate and need to pay for their expanses etc.

tl;dr: going down to 250 maybe worse, in short terms, and then reversing to whatever, we'll see. Bitcoin has seen it before Wink

about the mining:

a. there is a point when no new coins are generated, then this downward pressure will stop and price will explode

b. in the meantime, when prices drop badly, miners cannot afford to keep mining. Result: miners stop, hardware development stops, hash rate drops. Hashrate and price will reach a bottom. Fewer coins will be sold. Then, the cycle will be reset, and prices will climb again.

So a crash will cleanse out the weak hands, and the industrial mining as well, IMHO.

MichaelBliss

hero member

Activity: 526

Merit: 500

Quote from: exocytosis on October 04, 2014, 05:24:28 PM

I'll laugh when all the bulltards and cultists start panic selling when we hit double digits.

Here's what the bulltards and cultists typically say:

Quote

"When we hit $xxx, I'll buy a ton of coins!!! Promise!!!! I'm just waiting for more weak hands to get shaken out!!!"

Many people with more bitcoins than you can dream of yourself, will never panic sell, even if the price goes to zero. There would have to be some serious issue with Bitcoin, not just a low price to induce panic selling amongst the Bitcoin believers.

MrBig

sr. member

Activity: 369

Merit: 250

Quote from: Robert Paulson on October 04, 2014, 04:10:01 PM

time to load up some next to free bitcoins before the moron runs out of coins to sell.

Maybe the morons are the ones buying the coins for what they perceive as being free...

Just saying, it can go both ways.

BusyBeaverHP

full member

Activity: 209

Merit: 100

I don't know about everyone else, but this is my buying price target:

If it doesn't happen, I'll just have to catch something on the way up.

abercrombie

legendary

Activity: 1159

Merit: 1001

Odalv

legendary

Activity: 1414

Merit: 1000

Quote from: williamevanl on October 04, 2014, 05:43:07 PM

Quote from: Odalv on October 04, 2014, 05:39:02 PM

Quote from: redhawk979 on October 04, 2014, 05:25:44 PM

Quote from: Robert Paulson on October 04, 2014, 05:25:11 PM

these posts will look great in a few years when bitcoin is in 5 digits.

So will yours in about 3-4 weeks when we're pressing sub 200.

$290 is impossible :-) ( ok, probability 0.00000001%)

?! It was just at 308 on btce! People have to start wondering, maybe there's something you are all missing.

lol, no sane people will sell @$290 => I think there is not enough insane people who can drop price bellow $290 (they do not have enough bitcions)
- calculate mining costs
- count all sane users buying power

williamevanl

sr. member

Activity: 404

Merit: 253