Silk Road forums

Discussion => Newbie discussion => Topic started by: GreenMad223 on March 27, 2013, 01:33 pm

Title: Bitcoin Expensive Atm??
Post by: GreenMad223 on March 27, 2013, 01:33 pm
New to bitcoins and i have noticed over the last week, btc has nearly doubled in price??
Im aware the value shifts, sorta like the stock market, but can someone inform me as to how long these value shifts go for?
Im sure value goes up a few weeks before every major holidays lol...
Cant find decent charts over a long enough period to make my own judgement.
Any info appreciated.
Title: Re: Bitcoin Expensive Atm??
Post by: ladyjane on March 27, 2013, 01:45 pm
I dont think its doubled in a week but it's doubled in about a month or so.
It's pretty impossible to know whats going to happen with them, personally I think they will keep rising with occasional drops. Im waiting for it to drop to buy some so hopefully that happens!
Title: Re: Bitcoin Expensive Atm??
Post by: GreenMad223 on March 27, 2013, 01:51 pm
ok a few weeks :) but it has risen a fair heap. So it has steadily risen over a long period?
Thinking about waiting for a drop and purchase a large amount of btc if its going to keep rising.
Title: Re: Bitcoin Expensive Atm??
Post by: A1pha on March 27, 2013, 02:03 pm
hi, I am new to sr and btc but I dived in and bought 10 btc for around £600 invluding fees etc and spent 3. it could go in my favour if the value rises or if they fall then I have lost out but it is obviously a call for each individual to make.

I was reading a thread here earlier from only a few months ago where people were umming and arring about buying a bulk purchase and the price was only single figures per btc not the nearly £60 they are today, who knows they could be £100 in a few months or they could be back to low single figures.....watch this space.

me personally I am going to buy another 10 btc this weekend as a long term investment, but I can afford to lose it, I would be gutted but dont see much difference between dabbling here with btc or giving money fo a fund manager and investing in shares.

Title: Re: Bitcoin Expensive Atm??
Post by: silentmind on March 27, 2013, 02:16 pm
I started learning about Bitcoin when it was at $19 in February and have watched in climb, soar, and race to $50, then to $60, and onward to over $80. I did not know enough about it or have the motivation at $20 to invest the money. If you think they are going to rise and have the spare cash to spend invest and watch it closely. You can get apps on your phone to notify you of price drops and increases and also monitor your exchange of choice (e.g. Campbx, Mt. Gox..). Even if you only buy one Bitcoin and make $10, it is a good feeling to be a part of something successful that so many discredit only because they do not understand the economic and political climate.
Title: Re: Bitcoin Expensive Atm??
Post by: Obnubilate on March 27, 2013, 03:51 pm
Yes, they are very expensive. Excepting them to keep going up.
Title: Re: Bitcoin Expensive Atm??
Post by: tolega on March 27, 2013, 03:53 pm
Expensive or cheap, we still get good prices on the coke.
Title: Re: Bitcoin Expensive Atm??
Post by: syncstyles on March 27, 2013, 04:03 pm
I was thinking the same thing yesterday. I started using BTC when it was $30 and change, and now its over $87. I see it going to $100 in about 3 weeks or less, I'm calling it from now. I might just buy 2BTC and sit on it then flip it back when the price jumps in another week or more.
Title: Re: Bitcoin Expensive Atm??
Post by: ladyjane on March 27, 2013, 04:27 pm
personally i think they'll be at 100 usd in a week. hopefully they drop a little bit if people get scared and cash out.
Title: Re: Bitcoin Expensive Atm??
Post by: brightback on March 27, 2013, 04:31 pm
They were around $5.00 a coin when I started. I didn't know what to do when they hit like 13 or 14, now $80.00+ I wish I would've bought more coins back then.
Title: Re: Bitcoin Expensive Atm??
Post by: dirtybiscuitzz718 on March 27, 2013, 04:36 pm
When I began to use BTC, they where like $7. I dont believe they will hit or break $100 any time soon, but over all, I dont for see BTC going back down to single digits ever again. Prob back down to the $30-$50 mark, until the next big spike shows its ugly face.
Title: Re: Bitcoin Expensive Atm??
Post by: maxieBB on March 27, 2013, 06:19 pm
Expensive or cheap, we still get good prices on the coke.

$130 to $170 a gram is good prices? Hate to see what bad prices look like
Title: Re: Bitcoin Expensive Atm??
Post by: heatcheck on March 27, 2013, 06:22 pm
You can buy in partial cooins though, so it works out.
Title: Re: Bitcoin Expensive Atm??
Post by: tramonym on March 27, 2013, 08:41 pm
i think prices are dynamically changed to mtgox rate 24 hour average? that being said it doesnt really matter as long as you buy bitcoins and products instantly without waiting in between... or is this wrong?
Title: Re: Bitcoin Expensive Atm??
Post by: Knomo on March 27, 2013, 08:49 pm
They were around $5.00 a coin when I started. I didn't know what to do when they hit like 13 or 14, now $80.00+ I wish I would've bought more coins back then.

Hehe I have exactly the same 'problem' 

But coins are not expensive, their value is high.
There's no difference with buying 80$ worth of drugs when BTC is at 8$ or 80$, you just need 10 times less BTC now.

Title: Re: Bitcoin Expensive Atm??
Post by: ratobhale on March 27, 2013, 08:51 pm
but the prices here are made according to to the bit coin rates
Title: Re: Bitcoin Expensive Atm??
Post by: b0m on March 27, 2013, 08:59 pm
i think prices are dynamically changed to mtgox rate 24 hour average? that being said it doesnt really matter as long as you buy bitcoins and products instantly without waiting in between... or is this wrong?

They are changed every 5 minutes i think. Usually u cant buy bitcoins instantly. U have to wait at least a few hours, mostly one day. The last crash was 20€ less/bitcoin in 2 hours. So it really is some kind of gamble actually. It should keep going up if u hear what the pros are saying tho.
Title: Re: Bitcoin Expensive Atm??
Post by: Knomo on March 27, 2013, 09:24 pm
but the prices here are made according to to the bit coin rates

Most vendors put their prices up like this:
product xx = 50$                                      bitcoin rate = 80$/btc                                          bitcoin price for product = 0.625
product xx = 50$                                      bitcoin rate = 15$/btc                                          bitcoin price for product = 3.333

See? The product doesn't get more expensive, you just need more coins :)
Title: Re: Bitcoin Expensive Atm??
Post by: anonypunk on March 27, 2013, 09:35 pm
Expensive or cheap, we still get good prices on the coke.

$130 to $170 a gram is good prices? Hate to see what bad prices look like

I know what you mean. I guess I didnt know how good my coke really was just a couple years ago b/c I was flipping fish scale at $60/gram and still making very good profit. I don't see how the prices can be justified where they are at now.
Title: Re: Bitcoin Expensive Atm??
Post by: tramonym on March 31, 2013, 10:55 pm
yes
Title: Re: Bitcoin Expensive Atm??
Post by: Kaleb12 on March 31, 2013, 11:01 pm
following
Title: Re: Bitcoin Expensive Atm??
Post by: MrS777888 on April 01, 2013, 01:20 am
Expensive or cheap, we still get good prices on the coke.

$130 to $170 a gram is good prices? Hate to see what bad prices look like

Bad prices? Try $300-$500 in Australia for mostly garbage.
Title: Re: Bitcoin Expensive Atm??
Post by: BreakingBad123 on April 02, 2013, 02:25 am
Wish I could have stocked up 2 months ago. Would make purchasing drugs 3 times cheaper now - if only.
Title: Re: Bitcoin Expensive Atm??
Post by: Tabletter on April 02, 2013, 03:19 am
It is expensive. Buy Buy Buy!!! Sell sell sell!!!
Title: Re: Bitcoin Expensive Atm??
Post by: lemongrabber on April 02, 2013, 07:20 am
I expect them to drop after USA tax season... statistics say 60% of the worlds drugs go to the US...