Topic: Who is buying above $13? Manipulation or Market? - page 2. (Read 8628 times)

The bitcoin has consistently demonstrated that it will go lower and continue to reach new lows. Yet, it is currently trading close to $15 dollars.

Who would be buying at these prices?

What i think is either speculators are only buying to try and sell at a small spread, so they do not care what the price is, as they will sell very short term.

Manipulators are trying to maintain price and are trying to keep the price high so that they can build confidence in bitcoin and sell the majority of their bitcoins higher?

Your average investor just thinks bitcoins are worth it, and are buying them up.

I can not see the average investor buying bitcoins at this price, knowing that it will most likely continue a downward trend, and they could also wait a few days and buy low.

So what is going on? What is causing the price to continue going higher after it has been hitting new lows? Or how I would like to put it, who is dumb enough to buy at $15 now, when it was just $11 yesterday, and will probably hit that again very shortly?

GLBSE is not a real exchange.  There is no volume.  It is not regulated by any government organization.  My expectation of receiving payout should my contract become profitable is pretty damn low.  The site owner has a link where you can donate to him lol.  That is not a professional exchange.  What are the qualifications of the person running it?  Who is running it?  Where is it based?  On the about me page it says the following:

"We Are The Market

Buy, sell, raise, lend, borrow, invest, the single market that does it all. Keep your bitcoin in one market, and instantly switch between different assets, currencies, shares, and bonds to take advantage of the largest bitcoin market.

    * Issue shares to raise capital
    * Pay dividends to shareholders
    * Put resolutions to shareholders and get their vote
    * Issue and sell bonds
    * Borrow and lend to the market
    * Make and recieve loan repayments
    * Issue futures contracts
    * Meta-trade on non listed companies (on other exchanges)
    * And trade all of the above with other traders on the market


Start Trading Now!

The exchange is currently under testing, but is being used, you may use at your own risk but be warned,you could lose your shirt ;-)"


That says nothing, except that the person running it is building this as they go and have no idea what they are doing.  

Yes It is very interesting times, I can't help  but keep checking the price of the bitcoin. I must admit, part of me wants it to go lower because I missed the boat on this one.

Yes It is very interesting times, I can't help  but keep checking the price of the bitcoin. I must admit, part of me wants it to go lower because I missed the boat on this one.

The price now is relatively unimportant. The price when I sell is very important. That won't be soon.

I do not understand all the technical aspects of it, but how long until the whole system is somehow cracked? Is this even possible? How many people would use a currency that can easily be stolen from their computer as easily as your web browser gets full of spyware.

The price is currently exactly what the market thinks is the right price. It also was exactly what the market thought was the right price when it hit $30.

Yes It is very interesting times, I can't help  but keep checking the price of the bitcoin. I must admit, part of me wants it to go lower because I missed the boat on this one.

So either bitcoins WERE 100% overpriced or they ARE 50% undervalued currently. Time will tell. 

He was talking about $30. If the demand was there to get it to $30, it would go there. Therefore, the current price is the right price. What exactly is contradictory?

Glad I made you laugh.

Your ignorant wild-assed guess is as likely to be correct as any other.  I actually hope you're right as my damn Dwolla deposit hasn't dropped yet.

Gretzky said the secret to his success was not in skating to where the puck was, but to where it was going to be. Bitcoin entrepreneurs make assumptions about future demand for Bitcoins.  We communicate these assumptions in our purchase and sale decisions. When those assumtions turn out to be useful information conveyed in the form of prices, then we get paid. When we provide inaccurate information, we get penalized.

Bitcoin will become valuable because the problems are fixable and being fixed. If I waited until they were already fixed, I would have to pay more.

You clearly just contradicted yourself. The price wouldn't have moved up if demand wasn't there. The current price is always correct, right? Thanks for the laugh.  

In theory, the current price is always correct, and it already includes the market's expectation of the future. Currently, the demand is clearly not there to drive the price up. And at the current difficulty, it'd be very profitable for miners to sell @ $5, so we are way above the minimum threshold.

If this was tradeable I would short below 14.50 looking for a retest of the recent 11 low.  Should break by the end of the day.  14.50 that is.

Who is dumb enough to sell at $15 when the price was over $30 not so long ago?

What is causing the price to continue going higher after it has been hitting new lows?

Or how I would like to put it, who is dumb enough to buy at $15 now, when it was just $11 yesterday, and will probably hit that again very shortly?

I don't hate you. I think you're a clown. Opinions are like assholes. We all got 'em and they all stink. You have provided no original analysis, no insight, no reason to listen to anything you say except for the sheer entertainment value of it.  We've heard your arguments countless times before.

You don't trust me. You don't trust the exchanges, but you haven't given us  a SINGLE reason to trust you either.  I could argue your position better than you have, even though I don't believe it. You are a nobody and I'm going to have to ignore you unless you write something else entertaining. Step up your game.

Similar to 5grainsilver, I do believe that an online currency such as this one could have great potential, that is why I follow this.

However, I think it is crazy right now to invest in this currency at the currently high prices.

Also like 5grainsilver has said about the government seizing the funds, I have seen firsthand the government go after egold, or I think it was egold some years back. What surprised me was I would never have thought the government would or could go after egold, and I was really surprised about it. I can also see them easily go after bitcoin in the same way.
The government will not care about you saying it is not a currency etc. They will shut it down. Already paypal has stopped allowing payments for anything to do with bitcoin, and ebay is taking down listings. This is just the beginning.

Bitcoin is also full of hackers etc. I do not understand all the technical aspects of it, but how long until the whole system is somehow cracked? Is this even possible? How many people would use a currency that can easily be stolen from their computer as easily as your web browser gets full of spyware.

With all the current drawbacks, it is hard to understand people spending so much dollar per bitcoin, especially considering they were so cheap just a couple of months ago, and nothing has really changed.

I would considering it an investment in the low single digits at this point, but not $15 or $30.

With all of this said, it still surprises me that there are people out there who keep the price as high as it is. They continue to buy all the bitcoins that keep coming to the market. Especially considering that probably 90%+ of those bitcoins are not going to be used to buy anything. They just buy them to speculate.