Longer term price will go higher. Just right now IMHO with all the bullshit going on with major btc services and vendors (also recent fails with BTCST and GLBSE)....and the late availability of the newly anticipated ASIC hardware (BFL fail). I can see many getting tired of the tons of bullshit surrounding the bitcoin economy right now. People have bills to pay and costs to recoup on hardware expenses etc.
that was the last few months after the 15.50 dump. Post wordpress (to some degree block halving) is def the largest factor in the market right now
Dont be too sure that the debacles of the past few months are "done" affecting the market. BFL is holding millions in customer funds for a product that does not exist...
Even if BFL takes all of their money (which is not going to happen anyway), I fail to see why that would be an issue for the price. People would lose the fiat/ coins that they put into it, but would just continue with the existing rigs.
or if they get their money returned they then plow it directly into Bitcoin. remember, these are bulls essentially.
I'm curious how many paid in BTC. Now that is less BTC available on the market. That's just the other side of the coin. Recouping costs of $30k per mini rig is going to be #1 priority once people get their ASICS...i mean IF.
BY FAR most paid with cc. Tom, i believe, said over 90-95% of his orders were with cc. i know i paid with cc purposely so as to have a 60 d window with which to dispute in case of a problem. i estimated over $2M orders for asic's had been placed that is locked up in preorders. that's all bull money.
It is not all bull money.
It's all money "invested" hoping to turn a profit. No one cares which way the price goes....as long as they can profit from it.
It is all PROFIT-chasing money.
that's not true. you and i are both miners, right? if someone asked us if we would rather see the price of Bitcoin rise or fall while we were mining and irrespective of whether or not we are sellers of Bitcoin immediately upon being mined or are hoarders of Bitcoin after they are mined, what would our answers be?
we would/should say that we would rather see the price rise during the mining since that would guarantee us the "profits" you speak of. a falling price would disrupt those profits.
