Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33216.

crumbs

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Quote from: Jgguy on June 09, 2013, 10:24:08 AM

Exactly, bitcoin is meant to be used to buy and sell things, not as a store of value like gold. People who bought in thinking it was like gold are now realizing this and selling.

People who bought into gold thinking it was a store of value like gold ... oh, wait. People who bought into ... nevermind.

ShroomsKit

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Quote from: samson on June 09, 2013, 10:28:13 AM

Quote from: ShroomsKit on June 09, 2013, 10:16:53 AM

So basically you want the whole Bitcoin economy to drop 50% so you can buy a few cheap coins. Did i read that right?

Add me to this list. I sold mainly in the $160's and I'm looking for cheaper coins. I did a couple of trades since but only made a few thousand USD so I decided it wasn't worth it and I'll just wait for the good prices to come then buy and hold until I dump it all again.

It's dropped a load since I sold already and I have a feeling it's going to drop much further.

Right.
Call me crazy but i'd like to see it go up.
But i truly hope Bitcoin completely crashes and everybody loses money and investors will pull out so that you can buy a few dozen cheap coins. I'm like that.

N12

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Quote from: lucas.sev on June 09, 2013, 10:19:38 AM

Quote from: ShroomsKit on June 09, 2013, 10:16:53 AM

Quote from: lucas.sev on June 09, 2013, 10:12:29 AM

Quote from: ShroomsKit on June 09, 2013, 10:08:38 AM

Quote from: lucas.sev on June 09, 2013, 09:54:59 AM

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

Huh? Why would you love that?

Because this will mean that bubble is largely over and I can buy bitcoins at a price that likely will not halve, split the wallet file into three separate files and forget about checking damn clark moody more often than facebook for a year or two.

So basically you want the whole Bitcoin economy to drop 50% so you can buy a few cheap coins. Did i read that right?

You read 100% correct. There is no Bitcoin economy. (except for silkroad of course) I hope you are not another of hippies preaching that.

The only reason why somebody would go and exchange fiat for bitcoin right now (not counting speculation, store of value) is to spend it on Silkroad. Nobody in right mind would go and exchange it to btc only to buy something they could have bought instantly with traditional methods. And the only thing that they can't, are silkroad goods. YES if you already have bitcoins then you might use them on other stuff, if you mine, you will use them. But this is minority of people. I'm talking about general public. I'm repeating myself but I enjoy seeing idealists try to desperately justify their opinion.

Exactly right. Bitcoin has never been a billion dollar market in the first place. The figures most people are touting from Bitpay are hugely inflated because of mining equipment, and the evidence like data on sales of Humble Bundle, Reddit Gold and bitcoinstore suggest that people don't use Bitcoin as a currency in any significant way.

samson

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Quote from: ShroomsKit on June 09, 2013, 10:16:53 AM

So basically you want the whole Bitcoin economy to drop 50% so you can buy a few cheap coins. Did i read that right?

Add me to this list. I sold mainly in the $160's and I'm looking for cheaper coins. I did a couple of trades since but only made a few thousand USD so I decided it wasn't worth it and I'll just wait for the good prices to come then buy and hold until I dump it all again.

It's dropped a load since I sold already and I have a feeling it's going to drop much further.

Jgguy

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Exactly, bitcoin is meant to be used to buy and sell things, not as a store of value like gold. People who bought in thinking it was like gold are now realizing this and selling.

sarc

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Quote from: lucas.sev on June 09, 2013, 10:19:38 AM

Quote from: ShroomsKit on June 09, 2013, 10:16:53 AM

Quote from: lucas.sev on June 09, 2013, 10:12:29 AM

Quote from: ShroomsKit on June 09, 2013, 10:08:38 AM

Quote from: lucas.sev on June 09, 2013, 09:54:59 AM

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

Huh? Why would you love that?

Because this will mean that bubble is largely over and I can buy bitcoins at a price that likely will not halve, split the wallet file into three separate files and forget about checking damn clark moody more often than facebook for a year or two.

So basically you want the whole Bitcoin economy to drop 50% so you can buy a few cheap coins. Did i read that right?

You read 100% correct. There is no Bitcoin economy. (except for silkroad of course) I hope you are not another of hippies preaching that.

The only reason why somebody would go and exchange fiat for bitcoin right now (not counting speculation, store of value) is to spend it on Silkroad. Nobody in right mind would go and exchange it to btc only to buy something they could have bought instantly with traditional methods. And the only thing that they can't, are silkroad goods. YES if you already have bitcoins then you might use them on other stuff, if you mine, you will use them. But this is minority of people. I'm talking about general public

Actually, I got into it for changing quite a bit of currency, but yes, your point is a goodun...

lucas.sev

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Quote from: ShroomsKit on June 09, 2013, 10:16:53 AM

Quote from: lucas.sev on June 09, 2013, 10:12:29 AM

Quote from: ShroomsKit on June 09, 2013, 10:08:38 AM

Quote from: lucas.sev on June 09, 2013, 09:54:59 AM

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

Huh? Why would you love that?

Because this will mean that bubble is largely over and I can buy bitcoins at a price that likely will not halve, split the wallet file into three separate files and forget about checking damn clark moody more often than facebook for a year or two.

So basically you want the whole Bitcoin economy to drop 50% so you can buy a few cheap coins. Did i read that right?

You read 100% correct. There is no Bitcoin economy. (except for silkroad of course) I hope you are not another of hippies preaching that.

The only reason why somebody would go and exchange fiat for bitcoin right now (not counting speculation, store of value) is to spend it on Silkroad. Nobody in right mind would go and exchange it to btc only to buy something they could have bought instantly with traditional methods. And the only thing that they can't, are silkroad goods. YES if you already have bitcoins then you might use them on other stuff, if you mine, you will use them. But this is minority of people. I'm talking about general public. I'm repeating myself but I enjoy seeing idealists try to desperately justify their opinion.

prof7bit

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https://youengine.io/

Quote from: hlynur on June 09, 2013, 07:46:26 AM

I'm half btc half cash now and don't know if to sell or buy.

Keep it at that ratio. If it goes down 20% buy more coins to bring the ratio back to 50/50, if it goes up 20% then sell some coins, always keep it at 50/50. You can even set this up in advance with limit orders and have more free time for fishing.

ShroomsKit

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Quote from: lucas.sev on June 09, 2013, 10:12:29 AM

Quote from: ShroomsKit on June 09, 2013, 10:08:38 AM

Quote from: lucas.sev on June 09, 2013, 09:54:59 AM

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

Huh? Why would you love that?

Because this will mean that bubble is largely over and I can buy bitcoins at a price that likely will not halve, split the wallet file into three separate files and forget about checking damn clark moody more often than facebook for a year or two.

So basically you want the whole Bitcoin economy to drop 50% so you can buy a few cheap coins. Did i read that right?

stereotype

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Quote from: samson on June 09, 2013, 10:10:45 AM

Quote from: stereotype on June 09, 2013, 10:08:48 AM

Are you guys clocking whats happening to the order book. Multiple, and i mean multiple 0.0100 are being repeatedly entered onto the book at every possible price. Watch the orders close at the current price, increasing and decreasing by 0.0100 every second.

It's order book spam - it slows the exchange down if someone dumps big and introduces lag.

Yep, i know what it is, just havnt seen it so relentless before. Gox seems to be handling it ok though.

samson

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Quote from: lucas.sev on June 09, 2013, 10:12:29 AM

Quote from: ShroomsKit on June 09, 2013, 10:08:38 AM

Quote from: lucas.sev on June 09, 2013, 09:54:59 AM

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

Huh? Why would you love that?

Because this will mean that bubble is largely over and I can buy bitcoins at a price that likely will not halve, split the wallet file into three separate files and forget about checking damn clark moody more often than facebook for a year or two.

Just like in January this year right ?

sarc

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Quote from: lucas.sev on June 09, 2013, 09:54:59 AM

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

There's been a sense of apathy for weeks, even with the price increase. Personally, I don't believe there's enough drive left to resist the inevitable 'fully-popped' state that's coming...

Nightowlace

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Quote from: stereotype on June 09, 2013, 10:08:48 AM

Are you guys clocking whats happening to the order book. Multiple, and i mean multiple 0.0100 are being repeatedly entered onto the book at every possible price. Watch the orders close at the current price, increasing and decreasing by 0.0100 every second.

Some person(s) are tryin to jam up the system and cause lag.

lucas.sev

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Quote from: ShroomsKit on June 09, 2013, 10:08:38 AM

Quote from: lucas.sev on June 09, 2013, 09:54:59 AM

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

Huh? Why would you love that?

Because this will mean that bubble is largely over and I can buy bitcoins at a price that likely will not halve, split the wallet file into three separate files and forget about checking damn clark moody more often than facebook for a year or two.

Chang Hum

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Quote from: stereotype on June 09, 2013, 10:08:48 AM

Are you guys clocking whats happening to the order book. Multiple, and i mean multiple 0.0100 are being repeatedly entered onto the book at every possible price. Watch the orders close at the current price, increasing and decreasing by 0.0100 every second.

It's Bot spasms

samson

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Quote from: stereotype on June 09, 2013, 10:08:48 AM

Are you guys clocking whats happening to the order book. Multiple, and i mean multiple 0.0100 are being repeatedly entered onto the book at every possible price. Watch the orders close at the current price, increasing and decreasing by 0.0100 every second.

It's order book spam - it slows the exchange down if someone dumps big and introduces lag.

stereotype

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Activity: 1554

Merit: 1000

Are you guys clocking whats happening to the order book. Multiple, and i mean multiple 0.0100 are being repeatedly entered onto the book at every possible price. Watch the orders close at the current price, increasing and decreasing by 0.0100 every second.

ShroomsKit

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Activity: 672

Merit: 500

Quote from: lucas.sev on June 09, 2013, 09:54:59 AM

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

Huh? Why would you love that?

samson

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Activity: 2097

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Quote from: lucas.sev on June 09, 2013, 09:54:59 AM

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

On May 3rd it was fast moving, and the low resulted in a mass buy in. The price was only really low for minutes from what I remember as everyone quickly bought in. If you didn't put a blind bid in at the correctly guessed price you could not have bought at the low.

Today it went down and pretty much stayed there. Then a few buys came in as the day traders started doing their thing.

bangersdad

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Quote from: lucas.sev on June 09, 2013, 09:54:59 AM

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

+1

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