Silk Road forums

Discussion => Newbie discussion => Topic started by: Haizenberg on January 25, 2013, 06:19 pm

Title: Bitcoins on the rise - Your opinions ?
Post by: Haizenberg on January 25, 2013, 06:19 pm
So , bitcoins are on the rise , your opinions ?
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: RosesGarden on January 25, 2013, 06:32 pm
I've heard a lot of talk regarding the recent climb in bitcoin exchange rates. I'd like to believe that it's because more people are actually using them vs a bunch of people speculating. But it seems like it was a combination of the two? Hopefully people will stop speculating, and actually start adopting the currency!!!! :D

<3 Rose <3
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: CANNA INC on January 25, 2013, 06:36 pm
they are on the rise. I am curious what will happen once the new asic mining devices will hit the market in Feb.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: Haizenberg on January 25, 2013, 06:37 pm
Yea thats what im saying , anyone sees them going down and falling thru the cracks in the near feature?
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: CANNA INC on January 25, 2013, 06:50 pm
dont really think they will drop in price as drastically as 2011. if mtgox and other traders stay safe it should be fine. I am still planning to buy a car in 5 years time with 15btc i set aside and bought for $3
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: Haizenberg on January 25, 2013, 06:53 pm
it would be cool if it turned out this way,
and then us , will be so sad we didnt spend all our money on bitcoins , lol
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: C20H25N3O on January 25, 2013, 07:17 pm

First time I buyed  BTC paying only 2 Euro per BTC .
Now 1 BTC is +12Euro
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: redcube1 on January 25, 2013, 07:25 pm
Meh... Its very interesting, and lovely to see that my BTC that i recently bought is actually worth more...

But at the same time it dosent matter cause the prices on sr adjust (usually?), although the actual reason as to why its on the rise dose concern me alil bit.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: Rent0n on January 25, 2013, 07:47 pm
i think it definitely effects sellers more. using this week as an example of course... holding onto money an extra week before cashing out can be a couple extra hundred depending on how busy the seller is.

the value of bitcoin seems directly affected by the strength of the sites that use it. people dont care how much they pay for bitcoin because all they want are the goods/services. i noticed when SR was down in october that bitcoin was steady. turns out SR was down because so many new users were trying to access the system. at that point bitcoin was around $10.50
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: DoctorFreedom on January 25, 2013, 08:01 pm
Well it has reached $30 under worse circumstances. Now the supply is twice less (the block reward halving) and more sites adopted it, including wordpress (that's huge) so hitting $30 or beyond again shouldn't be impossible.
Or at least i wish so because the last time i bought significant quantities the price was $11.7 :)
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: misterniceguy123 on January 25, 2013, 08:06 pm
i reckon they'll tail off eventually, it's just a currency market after all.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: redcube1 on January 25, 2013, 08:12 pm
i reckon they'll tail off eventually, it's just a currency market after all.

By tail off do u mean decrease again? And if thats what u mean, how much are we talking? 5? 10? 2? :)   Genuinely curious about what you think.

This recent rise has really made me think about "investing" into bitcoins.. and by investing I mean throwing 600 in there and let it rot -- while keeping an eye on the market, and cash out if it gets high, and cash out if it gets lower than breaking even. Good plan, bad plan? ideas? questions? comments? concerns? :)
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: pacer59 on January 25, 2013, 10:39 pm
i don't see why not. if you have the money to throw at it. i just started buying bitcoins a couple months ago and they have gone up 3 or 4 bucks since then. crazy.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: surmer on March 29, 2013, 03:48 pm
Opinions, then and now. Second fiscal quarter is almost underway... (or has it already started?)

Anyway, thought this was interesting.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: xweed on March 29, 2013, 04:07 pm
Yes, even if they fall again, everyone here still has a use for them hence they will always have a value. In my opinion the only way the bcoin would actually lose value and not recover is if there was another way better, more efficient or what not coin that was somehow superior. Even then I believe bcoin would still be around even if it wasnt as valuable.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: cantharidin on March 29, 2013, 04:26 pm
Seems like a bubble for sure short term, but overall, I think BTC will continue to appreciate since supply is limited. The current bubble could collapse today, or it could keep going to 1000 - no one knows.  I think any of us holding coins are going to be subject to short term volatility; maybe win or maybe lose.  If you want to minimize risk, then don't hold any more BTC than you need for whatever you're buying soon. If you're holding more, then you're speculating in this BTC market.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: surmer on March 30, 2013, 11:54 am
Economics tied to politics and sociology, confounded by psychology, is a volatile and unpredictable thing... Money is like the new particles in physics... everyone seems to know what will happen next, until it actually happens... but it still takes 100 years to really know what happened--and scientists never stop arguing about what happened.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: A1pha on March 30, 2013, 01:09 pm
I wish I had heard of btc in January when this thread started.

I just sunk £500 in btc a week or so ago I would of got like 100 btc for that in January not 10.

I might be late to the party but I believe the night is still young.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: Andrimion on March 30, 2013, 01:22 pm
It's crazy 1BTC is now over €70 !!!!!

Some people making hard money but the price will also drop once.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: Rent0n on March 30, 2013, 04:32 pm
Seems like a bubble for sure short term, but overall, I think BTC will continue to appreciate since supply is limited. The current bubble could collapse today, or it could keep going to 1000 - no one knows.  I think any of us holding coins are going to be subject to short term volatility; maybe win or maybe lose.  If you want to minimize risk, then don't hold any more BTC than you need for whatever you're buying soon. If you're holding more, then you're speculating in this BTC market.

i agree with every word of this ^
well articulated
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: vox111 on March 30, 2013, 04:56 pm
i noticed this bettween my last two buys big fluxuation. does anyone know a place to read up one the stock market of the bitcoin like DOW.  how much comes from miners how much from demand ect.???
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: buttastickinc on March 30, 2013, 08:37 pm
I hope they keep fucking rising!! I was able to triple the money that was in my SR wallet.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: sutejano on March 30, 2013, 08:51 pm
Yep, cantharidin hit the nail on the head
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: Satire on March 30, 2013, 08:56 pm
I've noticed two things happening whenever bitcoins rise - by this I mean sharply and quicker than the general ascent.
I get fewer orders, buyers hold their coins hoping to gather more bang for their buck and savvy vendors switch to unhedged escrow.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: Mr Shakur on March 30, 2013, 09:07 pm
Bless the Bitcoin for all it's Glory. 
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: jackofspades on March 30, 2013, 11:20 pm
I love BTC, i like it as a currency
an investment, a way to get my fix!
and i think that more people will get to know about it everyday
and theyll start buying as well and therefore make the coins go up

i think it will rise fairly steadily and once it hits a certain number(maybe 100usd)
it will skyrocket...and the more people buying them will only contribute to even more people buying them

lets just hope theres nothing any government or hacker or anyone else can do to shut it down or slow it down.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: surmer on March 31, 2013, 02:29 am
I think BTC is beyond the category of currency regarding Monetary Theory. It is going to take tomes of knowledge to sort out the economic and social structure of BTC economies.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: cantharidin on March 31, 2013, 04:14 am
I think BTC is beyond the category of currency regarding Monetary Theory. It is going to take tomes of knowledge to sort out the economic and social structure of BTC economies.

That's a good point - if BTC lasts long enough, there are some cool economics PhD dissertations waiting as low-hanging fruit. 

Well.... maybe not COOL dissertations, but fun ones, I'll bet.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: mat82 on March 31, 2013, 08:51 am
It's a bubble!
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: 2385902737 on March 31, 2013, 08:58 am
As far as I am aware, Litecoin has numerous benefits over bitcoin, including faster transaction times.

In the short term I can't see bitcoin going below 75 any time soon. Although if the media have their way, I can see a fast adoption rate for litecoin...
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: DoctorFreedom on April 01, 2013, 11:31 am
I'm unaware of other cases of such growth without backwards correction at some point. So it should go back quite a bit sooner or later.
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: leavesbrown on April 02, 2013, 02:04 am
IMO its folly to compare bitcoins to any other currency, there are so many factors that differentiate it, for example the fact there will only ever be 22million of them.

Title: Re: Bitcoins on the rise - Your opinions ?
Post by: Fear.The.Reaper on April 02, 2013, 02:19 am
It's on the up and up
Title: Re: Bitcoins on the rise - Your opinions ?
Post by: surmer on April 02, 2013, 02:23 am
IMO its folly to compare bitcoins to any other currency, there are so many factors that differentiate it, for example the fact there will only ever be 22million of them.

IMO, thermodynamics should be considered. Does anyone know the full life cycle of the Sun? Of Earth? The Moon?

No, we just have pieces of the puzzle... we will only ever have PIECES of the puzzle that is the Universe... of what is.... that being said, we can now make decisions more intelligently.