Silk Road forums
Discussion => Newbie discussion => Topic started by: DanDanTheIceCreamMan on March 06, 2013, 03:31 pm
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Just woke up today to see BTC's are now at $48 USD and I think it was 30 something yesterday. Does anyone else get the feeling that the value of these are going to crash or is it because some new big internet site decided to accept BTC's that I don't know about?
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Once people stop bying at these prices the value will drop. Just hope they stop for the poor people like me lol.
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This is purely speculation, but I think it will go up much higher and eventually end up steadying itself around $50-60. The current rise isnt really a bubble. Whats going on is more people are finding out about underground markets like Silk Road, old users are still buying and now more legit companies are starting to use bitcoins (like pizza places or sites asking for donations in BTC). With demand going up and up and now investment companies are looking in to the potential of bitcoins, in 6 months we could all be saying "ha wow, I remember when btc was only $50!! Wish I would have kept some!" Just like I am saying now about when I used to buy them at $6.
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Price of bitcoin is almost irrelevant if the prices of the goods you are buying are in a non-bitcoin currency. It is just a medium of exchange.
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There is still a huge queue of people looking to signup on MTGox. Probably mostly looking to buy.
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what rocketgauze said. as long as prices are pegged to USD, it really does not matter. Unless you plan on holding your coins. Its the same as the stock market or buying gold. If you buy and sell the same day then your loss/gain isn't substantial. if you hold on to it, there is appreciation/depreciation risk