Who predicts Bitcoins will drop below $10 ? Who is planning to buy, if it does? - page 2.

HarmonLi

sr. member

Activity: 350

Merit: 250

Honest 80s business!

Quote from: Miz4r on February 02, 2015, 12:39:27 PM

Yeah trolls never change, look at their posts back on the first page and in other old threads from 2011, it's the exact same thing we hear now from names like lambchop, nothatinjusttrollin, yourmother, etc.. They keep making up excuses as to why now it's all different but yeah we all know how that ends up eventually. Tongue

They most likely are rationalizing and convincing themselves why they got out of Bitcoin or didn't go in it to begin with. Human psychology tends to do such things. Also, I think there's a big sip of 'schadenfreude' involved right there...

Miz4r

legendary

Activity: 1246

Merit: 1000

Yeah trolls never change, look at their posts back on the first page and in other old threads from 2011, it's the exact same thing we hear now from names like lambchop, nothatinjusttrollin, yourmother, etc.. They keep making up excuses as to why now it's all different but yeah we all know how that ends up eventually. Tongue

HarmonLi

sr. member

Activity: 350

Merit: 250

Honest 80s business!

Quote from: dancing altcoin shiva on February 02, 2015, 12:20:43 PM

Quote from: HarmonLi on February 02, 2015, 12:10:06 PM

Wow, posts like these from 2011 put everything into perspective. The price actually went below $10. Way below that even. And yet it started to climb again and reached $1000 back in November 2013. People need to realize these things have happened before in Bitcoin and may repeat over and over again. We're not screwed at all in my opinion!

yes, but back then nobody has heard of btc and the news didn't propagate through the internet at that point. When they did the bubble happened. These days everyone knows Bitcoin and finding new buyers for overvalued coins becomes harder and harder

In my opinion Bitcoin hasn't even reached any significant mainstream-investor-adoption. Even if the whole current market cap was invested in Bitcoin (which it isn't) we'd still be talking about a rather small amount of money - compared to the potential upsides.

dancing altcoin shiva

newbie

Activity: 48

Merit: 0

Quote from: HarmonLi on February 02, 2015, 12:10:06 PM

Wow, posts like these from 2011 put everything into perspective. The price actually went below $10. Way below that even. And yet it started to climb again and reached $1000 back in November 2013. People need to realize these things have happened before in Bitcoin and may repeat over and over again. We're not screwed at all in my opinion!

yes, but back then nobody has heard of btc and the news didn't propagate through the internet at that point. When they did the bubble happened. These days everyone knows Bitcoin and finding new buyers for overvalued coins becomes harder and harder

HarmonLi

sr. member

Activity: 350

Merit: 250

Honest 80s business!

Wow, posts like these from 2011 put everything into perspective. The price actually went below $10. Way below that even. And yet it started to climb again and reached $1000 back in November 2013. People need to realize these things have happened before in Bitcoin and may repeat over and over again. We're not screwed at all in my opinion!

Ektra

full member

Activity: 137

Merit: 106

Quote from: RockMinerOops on February 02, 2015, 01:14:35 AM

Quote from: SlipperySlope on July 18, 2011, 02:10:28 PM

I sold my 12-month bitcoin mining hoard at 15.5. If this is a deflating bitcoin bubble then prices might well return to April 2011 levels, namely around one dollar.

Ouch

Lol. Not ouch, more like very good decision...

bassclef

hero member

Activity: 924

Merit: 1000

I wonder how many people actually bought sub $10. It's not an easy thing to buy toward the bottom when sentiment is horrible.

If we went sub $100 this year, people would still be greedy and wait for lower prices. $80? $50? $10 again? This is the reason some people still aren't buying now, and will miss the train if we head back over $300. It's also the reason that we will probably never go sub $100, since people know that they cannot predict the future, and will be buying en masse at prices near the top of the last bubble.

dancing altcoin shiva

newbie

Activity: 48

Merit: 0

Today the situation is different. Gavincoin will replace Bitcoin. The marketcap is higher and more people have been robbed by this market. Some for millions. Today altcoins are far more advanced and Bitcoin looks pale against them. It is in no way guaranteed to come back up. A black swan event could happen any day now.

We are currrently observing many interesting moves in altspace.

The first mover advantage starts to fade away.

When this post was made there were no real alts and the piss poor priceperformance on a smaller cap was more easy to excuse. Today we have to admit: it's much too volatile to be taken serious anytime soon. Less volatile coins will take marketshare.
The novelty-bonus bitcoin had back then are now having the altcoins. This year will be a big year for the good alts.

zimmah

legendary

Activity: 1106

Merit: 1005

$10 is crazy, what year is this? 2012?

Oh I just realized, it is in fact an old topic.

RockMinerOops

full member

Activity: 140

Merit: 100

Quote from: SlipperySlope on July 18, 2011, 02:10:28 PM

I sold my 12-month bitcoin mining hoard at 15.5. If this is a deflating bitcoin bubble then prices might well return to April 2011 levels, namely around one dollar.

Ouch

bullioner

full member

Activity: 166

Merit: 101

Quote from: kiwiasian on July 18, 2011, 09:28:24 PM

Personally I think if the price drops below $10 we are all screwed.

kiwiasian

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Personally I think if the price drops below $10 we are all screwed.

BTConomist

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Quote from: whitemist on July 18, 2011, 04:25:44 PM

Quote from: BTConomist on July 18, 2011, 04:14:31 PM

Quote from: whitemist on July 18, 2011, 03:50:43 PM

If you have been around stocks and currency trading you will know these things come in waves. Things go way way up and they peak, they then sell at that peak and the wave goes down. Right now, people are selling and it will stay like this for a month or less and then it will pick backup. People who don't understand get scared and sell and those smart kiddies wait and hold on to it and the price will spike back up. The world is not ending, bitcoin is following the norm, stop worrying.

i'll start picking backup at about 6 or 7. The only time this would all fail is if people sell and then walk away and not come back.

Apparently, you've missed my point: the bitcoin network is a state-of-the-art general ledger (one giant, digital bookkeeping notebook with 2,100,000,000,000,000 potential credit/debit rows). Bitcoins (and their fractions) are those very rows, and nothing more. So, it does not matter whether one uses 1BTC or 0.00000001BTC to move around $100 worth of value between the parties involved, a bitcoin, in and of itself, has no inherent price other than what we pay miners for processing every credit/debit entry.

Now, it's up to the bitcoin miners and users to decide how many of those credit/debit rows to make available for all transactions. The sooner everyone realizes that little fact, the faster we can put "bitcoin is a commodity" idea behind us.

But we won't, it's traded as such and most people here treat it as such. We are human and we like to put a value on it. I never said you were wrong, I'm just stating that there is no reason to panic or flip out over a sale.

A game is a game, right? Well, enjoy the swings then... CNN Money to the rescue!

whitemist

newbie

Activity: 14

Merit: 0

Quote from: BTConomist on July 18, 2011, 04:14:31 PM

Quote from: whitemist on July 18, 2011, 03:50:43 PM

If you have been around stocks and currency trading you will know these things come in waves. Things go way way up and they peak, they then sell at that peak and the wave goes down. Right now, people are selling and it will stay like this for a month or less and then it will pick backup. People who don't understand get scared and sell and those smart kiddies wait and hold on to it and the price will spike back up. The world is not ending, bitcoin is following the norm, stop worrying.

i'll start picking backup at about 6 or 7. The only time this would all fail is if people sell and then walk away and not come back.

Apparently, you've missed my point: the bitcoin network is a state-of-the-art general ledger (one giant, digital bookkeeping notebook with 2,100,000,000,000,000 potential credit/debit rows). Bitcoins (and their fractions) are those very rows, and nothing more. So, it does not matter whether one uses 1BTC or 0.00000001BTC to move around $100 worth of value between the parties involved, a bitcoin, in and of itself, has no inherent price other than what we pay miners for processing every credit/debit entry.

Now, it's up to the bitcoin miners and users to decide how many of those credit/debit rows to make available for all transactions. The sooner everyone realizes that little fact, the faster we can put "bitcoin is a commodity" idea behind us.

But we won't, it's traded as such and most people here treat it as such. We are human and we like to put a value on it. I never said you were wrong, I'm just stating that there is no reason to panic or flip out over a sale.

BTConomist

full member

Activity: 126

Merit: 100

Quote from: whitemist on July 18, 2011, 03:50:43 PM

If you have been around stocks and currency trading you will know these things come in waves. Things go way way up and they peak, they then sell at that peak and the wave goes down. Right now, people are selling and it will stay like this for a month or less and then it will pick backup. People who don't understand get scared and sell and those smart kiddies wait and hold on to it and the price will spike back up. The world is not ending, bitcoin is following the norm, stop worrying.

i'll start picking backup at about 6 or 7. The only time this would all fail is if people sell and then walk away and not come back.

Apparently, you've missed my point: the bitcoin network is a state-of-the-art general ledger (one giant, digital bookkeeping notebook with 2,100,000,000,000,000 potential credit/debit rows). Bitcoins (and their fractions) are those very rows, and nothing more. So, it does not matter whether one uses 1BTC or 0.00000001BTC to move around $100 worth of value between the parties involved, a bitcoin, in and of itself, has no inherent price other than what we pay miners for processing every credit/debit entry.

Now, it's up to the bitcoin miners and users to decide how many of those credit/debit rows to make available for all transactions. The sooner everyone realizes that little fact, the faster we can put "bitcoin is a commodity" idea behind us.

whitemist

newbie

Activity: 14

Merit: 0

If you have been around stocks and currency trading you will know these things come in waves. Things go way way up and they peak, they then sell at that peak and the wave goes down. Right now, people are selling and it will stay like this for a month or less and then it will pick backup. People who don't understand get scared and sell and those smart kiddies wait and hold on to it and the price will spike back up. The world is not ending, bitcoin is following the norm, stop worrying.

i'll start picking backup at about 6 or 7. The only time this would all fail is if people sell and then walk away and not come back.

walidzohair

full member

Activity: 184

Merit: 100

my expectations are that the market is washing up the dirty mercinery miners. It will drop back to 0.01 USD soon and it will be like that for a year. before it start trading for thousand of USD per btc.

TraderTimm

legendary

Activity: 2408

Merit: 1121

I have no problem with people dumping their bitcoins. This selling behavior happens all the time in the 'real' markets. Right before it spikes upward, that is. The current impulse move down which started July 2nd peaking on the 5th has exhausted itself. I'm waiting for my indicators to move into positive territory before buying in again, which I believe will happen near the end of the month.

Can't sweat the wiggles, its the long term that you've got to be focused on. Unless you're scalping at Mt.Gox with a 0% fee account, then by all means, trade away

BTConomist

full member

Activity: 126

Merit: 100

Quote from: BillX on July 18, 2011, 01:33:53 PM

Quote from: BTConomist on July 18, 2011, 01:26:42 PM

Quote from: BillX on July 18, 2011, 01:23:51 PM

Quote from: BTConomist on July 18, 2011, 01:19:10 PM

the more chances bitcoin has of becoming the de facto global currency.

Cows jumping over the moon will happen before bitcoin becomes the "de facto world currency".

Not "world currency" -- only a "global currency".
I wasn't saying that world governments would replace their currencies with bitcoin.

I misquoted you and all fixed. Though I really don't see a big (if any) difference between the two words.

Then what do you see as the main problem with bitcoin -- why can't you see it becoming the de facto global currency?

SlipperySlope

hero member

Activity: 686

Merit: 501

Stephen Reed

I sold my 12-month bitcoin mining hoard at 15.5. If this is a deflating bitcoin bubble then prices might well return to April 2011 levels, namely around one dollar.

Topic: Who predicts Bitcoins will drop below $10 ? Who is planning to buy, if it does? - page 2. (Read 5993 times)