Silk Road forums
Discussion => Newbie discussion => Topic started by: b0m on January 31, 2013, 10:01 pm
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Hey
i think the prices will go up from 16€ today to 18€ tomorrow. anyone? They were 15 yesterday and are 16 today. tomorrow is the 1. everyone gets his money so even more people want to buy. The time has come for the bitcoin to expand! i see sometime soon the bitcoin will be worth thousands of dollars! keep ur bitcoins collected and get rich very soooon!!!!!!
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See it's people like you who have this stupid idea in their head as to buy btc and hold on to them which will make btc redundant ie collapse why do you think their going up at the rate they are at present it's vos some idiot has bought a load and is not using them so the prices will skyrocket as there's only a set amount of btc ever made so if more people buy and hold on to them you might as well kiss this marketplace goodbye cos no one will be buying them at these prices me for one ain't gonna buy at this rate so they've lost my custom already let alone how many others so please if you don't know what the flip your talking about it's best to say nothing at all and oh if you do buy them and hold on to them and the price skyrockets who's gonna buy them off of you no kne will unless their born stupid so stop giving advice about holding onto them and becoming rich cos it's totally the opposite which will hapoen plus you the buyer might even get stuck with them ie they won't be worth nothing to anyone but you but you can't do ish with them so read up before talking fraff in future ok I kmow your new but you must be very young too what are you even doing on this site ha
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Further to add how old are you seriously I don't think you should be on this site you sound like an 11 year old child get off this site if you are ok
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What did the last BTC crash go down to? 5 per wasn't it?
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I think the prices will level to around 12-14, at least for sometime.
But who knows with speculation.
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people will keep buying bitcoins no matter what they cost. i think you dont understand what bitcoins are. dont tell others to be quiet when u not have a bit of an idea urself :) for my age im pretty sure im way older than the average in here. dont worry about that.
They will raise no.matter.what. so many people got to know bitcoins lately. so many people want to have bitcoins. soon there will be more people wanting bitcoins as there will ever bitcoins be produced. that will lead into the bitcoin will raise ALOT! that doesnt matter tho. as long as its not getting hacked or closed by the feds it is still a somewhat stable paying system. not the seller and not the buyer has to be worry about anything. it will constantly raise. there will not come the point where less people want it. be smart and adapt :)
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Phoboss, refusing to take part in a BTC exchange simply because its dollar per unit price is so high is pretty silly. Especially as how many, if not all of the prices on SR are pegged to the USD and do not fluctuate with BTC. Basically, there is actually no loss or gain with regards to the total amount of buying power with regards to the BTC price.
If you pay 20 dollars for one BTC, you still get 20 dollars worth of BTC on the road.
If you pay 20 dollars for two BTC, you still get 20 dollars worth of BTC on the road.
You may want to review some math. Also, looking at how both of your posts here are huge run on sentences with no regards for proper punctuation, I would be questioning your age more so than I would be questioning b0m's age.
Dantana, I believe the last major crash took it down to either 1$/BTC or .01$/BTC, I'm not sure.
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Phoboss, refusing to take part in a BTC exchange simply because its dollar per unit price is so high is pretty silly. Especially as how many, if not all of the prices on SR are pegged to the USD and do not fluctuate with BTC. Basically, there is actually no loss or gain with regards to the total amount of buying power with regards to the BTC price.
If you pay 20 dollars for one BTC, you still get 20 dollars worth of BTC on the road.
If you pay 20 dollars for two BTC, you still get 20 dollars worth of BTC on the road.
You may want to review some math. Also, looking at how both of your posts here are huge run on sentences with no regards for proper punctuation, I would be questioning your age more so than I would be questioning b0m's age.
Dantana, I believe the last major crash took it down to either 1$/BTC or .01$/BTC, I'm not sure.
THIS^^^^
Plus, yes I rekon BTC are going to hit close to the mid 20's, how far it drops after that spike I have no idea, imho get some BTC ASAP, and watch the BTC exchange charts multiple times every day.
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The best thing you can do is NOT spend all your BTC.
Keep a reserve of as much as you can. While the market grows, so will the value of your stash.
I imagine it's hard not to put it up your nose. But try. You can buy more (for less) later.
Your DrugBuddy.
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Phoboss, refusing to take part in a BTC exchange simply because its dollar per unit price is so high is pretty silly. Especially as how many, if not all of the prices on SR are pegged to the USD and do not fluctuate with BTC. Basically, there is actually no loss or gain with regards to the total amount of buying power with regards to the BTC price.
If you pay 20 dollars for one BTC, you still get 20 dollars worth of BTC on the road.
If you pay 20 dollars for two BTC, you still get 20 dollars worth of BTC on the road.
You may want to review some math. Also, looking at how both of your posts here are huge run on sentences with no regards for proper punctuation, I would be questioning your age more so than I would be questioning b0m's age.
Dantana, I believe the last major crash took it down to either 1$/BTC or .01$/BTC, I'm not sure.
You pretty much nailed it. The whole premise of this thread is off base.
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Further to add how old are you seriously I don't think you should be on this site you sound like an 11 year old child get off this site if you are ok
You realize SR is international right? English isn't everyone's first language, and your grammar is just as bad as his if not worse. Before you decide to troll on someone try to at least make yourself seem somewhat intelligent.
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I was thinking the other day that it could be the government trying to destroy bitcoin economy by doing that. but then I remembered this
Phoboss, refusing to take part in a BTC exchange simply because its dollar per unit price is so high is pretty silly. Especially as how many, if not all of the prices on SR are pegged to the USD and do not fluctuate with BTC. Basically, there is actually no loss or gain with regards to the total amount of buying power with regards to the BTC price.
If you pay 20 dollars for one BTC, you still get 20 dollars worth of BTC on the road.
If you pay 20 dollars for two BTC, you still get 20 dollars worth of BTC on the road.
You may want to review some math. Also, looking at how both of your posts here are huge run on sentences with no regards for proper punctuation, I would be questioning your age more so than I would be questioning b0m's age.
Dantana, I believe the last major crash took it down to either 1$/BTC or .01$/BTC, I'm not sure.
and came back to earth
lol
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yeah really not a big deal, if anything its good for people who have had them for awhile saving up. The price of drugs will most likely stay the same until the dollar continues to inflate
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I've seen vendors adjusting their prices on an almost daily basis based on the bitcoin exchange rate. So the idea of holding onto bitcoins is less attractive.
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as long as people keep the prices adjusted here and dont gouge you, everything is cool.
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The only reason I went to the trouble to get bitcoins is so I could use them here and for other digital purchases. It is an ever growing option on the web to pay with bc!
If I wanted to invest in something it would be gold or silver, if the US economy did crash, everything currency tied to the dollar would bottom out wouldn't it? If US $ are worth
nothing wouldn't that reflect on the value of BC?
Peace
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I think one of the bigger threats to the bitcoin value is if SR will get shut down. A LOT of people will have no use for bitcoins anymore which will send the exchange rate straight to the floor :(
Long live SR
<3 Rose <3
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Is bitcoins the only method of payment? How much is the currency now? Im a newb and ive been all over the place today, sorry if this is repetative to other posts.
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yes they are the only method on the road. they're around $20 for 1 btc right now. It doesn't matter that the price for em so high, the prices for items are adjusted accordingly
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No.
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do the venders have to adjust their prices in bitcoins daily...or does it do it automatically with the market rate of bitcoins?
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do the venders have to adjust their prices in bitcoins daily...or does it do it automatically with the market rate of bitcoins?
I would assume they list it in dollars and the BTC changes to reflect its current value. That would be the simplest way.
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I think one of the bigger threats to the bitcoin value is if SR will get shut down. A LOT of people will have no use for bitcoins anymore which will send the exchange rate straight to the floor :(
Long live SR
<3 Rose <3
I would think most of Silk Road's fortune is in bitcoin so there's major incentive in keeping Silk Road active. Also due to the difficulty of cashing bitcoins out, as time passes more and more bitcoins are being held as savings by venders and bitcoin service operators thus lowering the supply. The question is when and at what price will those savings finally be cashed out. What an interesting journey this is going to be watching bitcoin grow.
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good info
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It's so hard to not use my last few coins for more drugs...
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Surely bitcoin will be worth at least $100 within a year or two as long as Silk Road stays up and more online gambling services are created and popularized. The most difficult part of bitcoin continues to be getting money into and out of the system.
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I think one of the bigger threats to the bitcoin value is if SR will get shut down. A LOT of people will have no use for bitcoins anymore which will send the exchange rate straight to the floor :(
Long live SR
<3 Rose <3
I am completely agree with you. If any day SR shut most of the people will feel like they loose their money
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Surely bitcoin will be worth at least $100 within a year or two as long as Silk Road stays up and more online gambling services are created and popularized. The most difficult part of bitcoin continues to be getting money into and out of the system.
The easiest way to get money in and out anonymously seems to be through drugs and bitcoin mining. I pray that USPS does not find a way to stop drugs in the mail. They would lose a lot of money if they ever are able to. I wonder what percentage of packages and letters contain drugs.
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I've seen vendors adjusting their prices on an almost daily basis based on the bitcoin exchange rate. So the idea of holding onto bitcoins is less attractive.
That's exactly a good reason to hold on to bitcoins.
E.g. buy bitcoins for 10 euro and spend them when bitcoins are worth 18 euro. For every 1 bitcoin you spend, you have spent 10 euro but recieved 18 euros of merchandise.
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This is another bubble nothing more. The price of BTC are still stabilizing.
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Most of the vendors have their listings pegged in USD values anyway, so the fluctuating price of bitcoins shouldn't affect SR all that much.
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I'm not sure how high the prices will go, but the higher the better for those who bought in at a lower price.
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good info
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:'(
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Did I see the price at 21.7 earlier today? :o
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A rising bitcoin price only helps us all. As do legitimate competitors to SR. That would really stabilize the BC.
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I remember when it was high, then crashed, and now back up again. Should have bought more when it was around $5, could have made a killing.
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alreadythere
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I remember when it was high, then crashed, and now back up again. Should have bought more when it was around $5, could have made a killing.
I came in when it was already above 12, I still would have made a killing. Albeit in the form of just killing more brain cells more economically.
Has it even been this high before?
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I think most of the sellers base their prices on the dollar...so it changes accordingly.
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It`s important to mention that NOT ALL vendors are adjusting their prices to bitcoin values..
There can often be a lag, this makes it tricky if you don`t happen to stock pile a bit in a wallet or three.
Either way, a sign of a reputable vendor is that they aren`t going to pwn you in the exchange rate trade offs.
But it is a way for them to make a little bit more cash.
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I've been looking at the graphs at Mt.Gox. It seems every time someone dumps 8000+ BTC's onto the market the value drops a bit then picks up again a day or two later
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See it's people like you who have this stupid idea in their head as to buy btc and hold on to them which will make btc redundant ie collapse why do you think their going up at the rate they are at present it's vos some idiot has bought a load and is not using them so the prices will skyrocket as there's only a set amount of btc ever made so if more people buy and hold on to them you might as well kiss this marketplace goodbye cos no one will be buying them at these prices me for one ain't gonna buy at this rate so they've lost my custom already let alone how many others so please if you don't know what the flip your talking about it's best to say nothing at all and oh if you do buy them and hold on to them and the price skyrockets who's gonna buy them off of you no kne will unless their born stupid so stop giving advice about holding onto them and becoming rich cos it's totally the opposite which will hapoen plus you the buyer might even get stuck with them ie they won't be worth nothing to anyone but you but you can't do ish with them so read up before talking fraff in future ok I kmow your new but you must be very young too what are you even doing on this site ha
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if you will the price will crash due to deflation :P
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Phoboss....learn to use a . (period)
Also.....do vendors really update their prices that often? or just some of them...?
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prices get adjusted automatically with the price of mt.gox. Vendors can setup their offers to stay in the bitcoin price they ask, or change accordingly to the rates sold at mt.gox.
by the way, back on topic. what did i say? :D the explosion has just begun i say.
i think its not a few guys buying a lot of bitcoins to raise prices (maybe there are a few), the ones who are responsible for that are the much people who got to hear about bitcoins lately. there are probably a lot only buying it to speculate. but also a lot to use it as its supposed to (you, me) and also alot miners. its just logical - there are constantly more people who hear from bitcoins (it spreads like a good virus/worm), it cant get less u know. the one who know about it - know about it. it can only grow basically. when feds shut down exchangers the price will fall in the first place but raise big in the long run). basically the only thing that could kill the bitcoins is a bitcoin hack. but as this is a open source program, a LOT of hackers already tried that very hard. but no success. that kind of indicates that its not possible with todays technology. Which makes it pretty safe in my opinion and there is no way that the rates will ever fall in the long run (unless bitcoins get hacked of course)
it is not a bubble. i think it has never really been a 'bubble'. the time when prices fell was the time hackers hacked alot of exchanging platforms. people lost trust in the bitcoin when they should have lost trust in the exchanger platforms instead. There will come the time when they realize that. from there on on the prices will not fall so dramatically when some exchanger gets hacked. then the value of those exchanger will fall but not the prices for bitcoins.
i bet by the end of the year prices will be above 50€/coin (in fact i think it will even hit 100€) anyone? :)
i for myself will certainly collect as much bitcoins as i can afford. bitcoins has very big potential in my opinion
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i bet by the end of the year prices will be above 50€/coin (in fact i think it will even hit 100€) anyone? :)
At the risk of being another phoboss, no, I don't see that happening. As far as I can tell, there is no real reason the market has exploded in the past few weeks/month. I think it will correct itself eventually. However, as more and more (legal) retailers adopt this payment method, there's no reason it shouldn't continue to rise in value versus government issued currencies (in the short term, anyway).
I think that the Dec 31 2013 value will be significantly higher than the Dec 31 2012 value, but I'm not convinced it will be higher than what it is worth today (unless of course some major retailer starts accepting payments or some other action that brings the currency to the masses).
Then again, I thought the market would have corrected already, so maybe in 10 months a bitcoin will be worth $929529.84 and you can all quote this post and tell me what an idiot I am.
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everyone hury buy things lol
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i bet by the end of the year prices will be above 50€/coin (in fact i think it will even hit 100€) anyone? :)
Then again, I thought the market would have corrected already, so maybe in 10 months a bitcoin will be worth $929529.84 and you can all quote this post and tell me what an idiot I am.
i will so quote u i swear :D
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ive been watching bitcoins since dec 2012 and researching the shit out of it and find one conclusion:
unless someone makes a copy of this system or hacks it
it will go up
lol if i invested 10000 dollars from the start i would have made 20000 in profits (FACK)
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In regards to investing, it's still very risky imo to jump in too deep. Currently, I'm saving half of my BTC and cashing half out when prices jump. I figure if I lose half in a rapid decline I can buy back in with the cash at the bottom for the climb back to even out again. It will be interesting to watch BTC for the next few years that's for sure.
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what...the...fuck.... just happened!? Why are the bitcoins up 11€ from yesterday to now? today in the morning it was 42€ (which shocked me) and now i refresh and its 47 fucking 50? what is going on? anybody know anything why that is? feels like some investor buys it all
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Up $10usd from yesterday. It's been a pain to buy btc from sr vendors, seems like they don't want to part with their coins...
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I've bought €1000 worth. I plan on spending it all here over the course of a few months, but it will be interesting to see what I get for the bitcoin I paid €30 for recently as opposed to what I can get for that same bitcoin in 6 months.
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I agree with what many are saying here. I have just recently started my "reserve" of bitcoins. I want to save up as many as humanly possible because even though they do go up and down (lately they just keep going up!) If you know anything about how bitcoins work, overtime the price HAS to go up and it will go up A LOT and stay stable at that price because it is not like other currencies, there is a certain number of bitcoins that will ever be produced, unlike cash which more and more can just be printed. By the time bitcoins are fully mined they could be easily worth thousands for a single coin but that does not mean it costs anymore to buy things with them.....Say a coin is worth in the thousands but you only need to buy a few hundred dollars worth then you would get something that looks like 0.00000001 of a bitcoin......it really is not to hard to understand if you do some reading about it. It took me a long time to understand bitcoin but I made sure I had the whole concept down before starting to vend here. I am already very much experienced in the mail order business so joining Silkroad is the best thing that could have happened to me :)
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i bet by the end of the year prices will be above 50€/coin (in fact i think it will even hit 100€) anyone? :)
Then again, I thought the market would have corrected already, so maybe in 10 months a bitcoin will be worth $929529.84 and you can all quote this post and tell me what an idiot I am.
BRO YOU'RE AN IDIOT
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price is at 61 dollars now i knew i should of got some yesterday when it was at 52 i am still looking to buy what is the common opinion on price fluctuation over the next week will it continue to increase or drop back down to the 40's and 50's???
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I wanted to buy some back when it was in the 30's, but I figured as soon as I got some it would crash. Really kicking myself for it now, but if I blew all my savings on it and it crashed....so tempting though.
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BTC has huge upside potential but right now estimates of the amount of BTCs held by speculators range from ~75-90%. The remaining BTC appears to consist primarily of SR and a gambling site called satoshi dice. If SR gets busted get ready for largest panic/crash in BTC history.
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Learning and buying BTC is daunting, I'm glad I don't have to pay $$$ to learn, sheesh.
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Trade hill is back does this spark anyone's concern?
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I dont know much about tradehill why would this spark concern i am curious?
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Learning and buying BTC is daunting, I'm glad I don't have to pay $$$ to learn, sheesh.
It's fairly easy if you can do basic math.
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I'm intrigued
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Hey
i think the prices will go up from 16€ today to 18€ tomorrow. anyone? They were 15 yesterday and are 16 today. tomorrow is the 1. everyone gets his money so even more people want to buy. The time has come for the bitcoin to expand! i see sometime soon the bitcoin will be worth thousands of dollars! keep ur bitcoins collected and get rich very soooon!!!!!!
Hey buddy, it sounds like you're trying to talk up the price of BTC. Do have a big stash of BTC stashed somewhere? It seems to be going up pretty well, but personally I have a hard time seeing a real economic or demand-based reason why it should keep going up. If there really were a shortage of bitcoins driving up prices that would make some sense. But did you know that a few months ago there was a study done by some math geek where he was able to show that 78% of the bitcoins ever created have never been spent. I don't know what it's going to take to take to get some of that hoard of 8M + bitocions to be spent or sold on an exchange.
Once scenario I could imagine happening would be if one of the miners with vast paper wealth in BTC gets into serious financial trouble IRL and is forced to sell a large number of coins at once, it could have a big impact on the market. Let's hope that doesn't happen.
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I'm happy with the current price. Hopefully it rises a little more, and doesnt fall back down too far too fast.
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Hey
i think the prices will go up from 16€ today to 18€ tomorrow. anyone? They were 15 yesterday and are 16 today. tomorrow is the 1. everyone gets his money so even more people want to buy. The time has come for the bitcoin to expand! i see sometime soon the bitcoin will be worth thousands of dollars! keep ur bitcoins collected and get rich very soooon!!!!!!
Hey buddy, it sounds like you're trying to talk up the price of BTC. Do have a big stash of BTC stashed somewhere? It seems to be going up pretty well, but personally I have a hard time seeing a real economic or demand-based reason why it should keep going up. If there really were a shortage of bitcoins driving up prices that would make some sense. But did you know that a few months ago there was a study done by some math geek where he was able to show that 78% of the bitcoins ever created have never been spent. I don't know what it's going to take to take to get some of that hoard of 8M + bitocions to be spent or sold on an exchange.
Once scenario I could imagine happening would be if one of the miners with vast paper wealth in BTC gets into serious financial trouble IRL and is forced to sell a large number of coins at once, it could have a big impact on the market. Let's hope that doesn't happen.
I have some bitcoins yer, but not a lot. anyway trippled my money so far in ~2 month. what makes me confident it will keep raising is the following. u mentioned 78% was never spent, and i agree it could make the rates fall if all these get spent all of the sudden (very unlikely event). but i dont believe that one guy selling his bitcoins (whatever amount) makes the rate fall that significantly. But i do see more and more people get to know bitcoins, so obviously more and more people want to have them (specially investors, there is barely anything legal today that raise in rates that hard and steady). and the more people get to know them the faster the word is getting spread - i imagine it like a virus/worm kind event. friend one tells friend two 'hey, look at this, the bitcoin prices exploded from 10 to 50 in just 2 month, maybe we should invest'. friend one keep on going and tells friend three, four, five...., while friend two(three/four/five) does the same thing. so in my opinion there is no way of it to stop raising if nothing significant happens. Investors obviously hording their coins, thats their job. So even less bitcoins hit the market, making the price go up even more. satoshi dice i havent read up at all yet, but i believe every single market that now start accepting bitcoins will rise the prices aswell. there are so many factors that leads to the rates rising, but i can really only see one which crashes them - that is a hack. if sr goes down the rates fall a bit for a small amount of time. but people will go for bmr or other blackmarkets then.
Anyway i hope my predictions are right and they keep raising. its not bad for anyone actually. not bad for the buyers and not bad for the sellers. not for ANYONE but maybe the economics if too many companys accept it. if the supermarket starts to accept it, it will be bad for actual currencies because they would fall in rates. that happens because to much money is printed.... i feel like im going to far off here
*these are only speculations by me and not to be taken seriously* just my thoughts.
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I'm thinking that if more people continue to get into it, it's simply a supply and demand issue. Since bitcoins are now harder to mine and the growth is limited (google halving day), the supply is limited. Of course it all goes to hell if someone tries to convert a big chunk back to Government currency. That being said currency speculation is a great way to lose your shorts.
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Out of Sample Advice
Please read "The Signal and The Noise"
It details the recent US housing market crash, along with encouraging better decision making.
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Unless I am mistaken, BTC has jumped about 7 dollars since i checked yesterday. Crash has got to come soon, saving up my cash for when it happens. I would say 2 weeks tops before it collapses.
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Out of Sample Advice
Please read "The Signal and The Noise"
It details the recent US housing market crash, along with encouraging better decision making.
Great book! I wholeheartedly agree with that recommendation for a good read. Nate Silver is a prettty amazing guy. If I hadn't abused so many substances, maybe I could have been that smart!
One of the many points he discusses in the book is that one of the hardest things to do is to recognize a bubble while it's happening. To the point about bitcoin catching on, I agree to an extent. Sure I see a few more niche type of businesses accepting bitcoin, notably online services (my usenet and vpn providors) and my usenet indexing service. A really great recent addition to the list of businesses taking bitcoins is bitcoinstore.com.
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The market value will rise as long as their is demand, with supply limited (as it will always be). Also, the exchanging of hands of BTC for goods/services/IRL currency affects it as well. Another factor is the value of the different fiat currencies and digital currencies (CC and EBT) accepted and circulated by different countries around the world. They continue to print off more bills, many have dropped any concept of a Gold Standard (or any other Standard) and now attach an imaginary value to their currency of choice, which allows for the hyperinflation some countries see (e.g. 'Merica...fuck noooo!). The value of a BTC is pinned to the collective values of physical fiat currencies of world Superpowers (USA, UK, EU, CN, etc.), therefore...the worth of a BTC will only truly be independent of established currencies once it is universally (or close to) accepted as payment for goods/services.
Hope this shed some light. (:
Peace and Love,
Doctor
P.S. Phoboss is an idiot and a troll that fails at trolling. Epic fail is epic. The chucklehead never has anything respectable or polite to say, ever. Too bad you can't fix stupid.