I wish I had more $$ to spend. I already bought more than I currently have in my account so now I have to make a cash deposit tomorrow!
Need... more... fiat...
You had 5 years to buy cheap coins. It's extremely arrogant and really just ridiculous to want a huge economy to crash and burn so that you can buy a few coins 100 bucks cheaper.
People with deep pockets want to scare off weak hands and buy their coins on sale. It will happen.
Not yet it wont. The people with deep pockets want to stock the water more before they do that... They're stabilizing the price to keep it an attractive market for new adoption.
By the time a major grab like that happens BTC will be well over $10,000 each and will be very mainstream.
It's simple...
Somebody with a lot of fiat decided that they would buy everything below a certain value regardless of the volume...
The elusive hidden Bull-Whale.
I would bet they plan to hold and simply use it as a currency in a few years; otherwise it wouldn't make sense to support the market like this. They're stabilizing the market because it will help to speed up the whole adoption process and build credibility that draws in more big players.
not exactly, it states more closely to: if you will use bitcoins, we might consider you are involved in terrorism and/or money laundering and such...
don't modern governments do that anyhow?
Yes, but the governments only benefit when it's done in a currency which they profit from.
I'm going to hold what I have; lock it away in cold storage and set a reminder on my calendar to check the Bitcoin price next year at this time...
If the price of coins fall I'll still continue to buy. I'd rather lose my entire investment than contribute to this foolish panic.
The only thing a sell off will accomplish is to redistribute the coins to even fewer holders...
I dont know whats going to happen next week, and frankly i don't care, i'm buying, all i care about is supporting an idea. the idea that in the future the poeple will take back the power of money, no more inflation, no more out of control "print and spend", no more completely out of whack stock market due to massive FED manipulation. only truth, backed-up on the blockchain for all to see. this idea is about freedom from financial corruption, this idea is worth dying for, what's a few dollar worth, NOT A DAMN THING.
Sounds like a marshal motivating his kamikaze pilots.
As an inspirational reminder for most of us here today; simply restating the reasons why we're early adopters of Bitcoin in the first place...
I think your two goals are kind of at odds with each other...as soon as there is a hint that there is more stability and more "markets" lets say exchanges improved ecosystem and adoption growth and clearer regs etc.. as soon as the market gets (even more of) a whiff of that then , the price will go up to price it in, not down, unless "they" manipulate the exchanges to get a better price to buy in at...hmmm
Yes, that's the point. Investing into BTC is only attractive if there is a reason for the high price or the price would be low enough. When the price is high without a reason, other then desperation of fanatics, then it's not a good investment.
News I care about are:a) Opening/Closing of markets
b) Changes in legislation
c) BTC code
Rest of the news don't mean much to me when speculating the price. During the previous period
a,b and
c have only been negative. So, to me, there is no rational reason for the price to be much over then it was before the China boom. It's not the first time when markets are not rational and hold the price up by fanatics or manipulators. And this kind of irrational market, that is held up by pillars that are on a verge of breaking, is a big no-no as an investment opportunity.
The price has to rest on a more solid base then on "will of the HODLERS", or it has to create real increase in demand. Either one has to happen to shock this 2 month old dead cat to life. It could of already have been in a slow and stable uptrend if the market would have been more rational and finished the "loss of China" crash without denial.
It's stupid because it only wastes time..
I agree with you mostly except for the price resting on pillars on the verge of breaking. There's been a major increase in adoption and the demand is growing rapidly.
I honestly think the bottom of this downtrend is $600; anything less will be bought either by new users or existing ones. In this market we have a catch-22 where a large number of the speculative traders are looking for a larger crash but the market has changed so dramatically in the last several months that the support level is higher than anticipated. The population is growing; even now in this time of FUD the market is flooding with new users...
I think as soon as the speculative investors start to realize that the bottom is already in they will contribute to the next rally by reinvesting...
From where I am sitting things can go either 2 ways here.
Mt Gox survives which means the market won't go any lower than it currently is.
Mt Gox dies and there will be one more big dip.
So the last question remaining is how low will the market go if gox dies?
I am starting to think that whether gox lives or gox dies is going to be irrelevant a year from now when at the very least people are gonna wish they had bought in at $625.
+1
Just as much as people wish they bought at $25 exactly 1 year ago...
*Patiently waiting for a Chinese Bail-in*
I had a dream last night... I was watching the Bitcoin price chart at $640 and then all of a sudden the price just started skyrocketing, it went to $1,200 and then $5,000 in minutes... Then I woke up and thought, "well that was a wishful dream."
Strange times indeed...
Why didn't you wake up and say, "fuck, I should have bought more bitcoin at $640...."
Because that's exactly what I did! I bought as much as I could afford today... lol
The sentiment is different and the incentive to sell is greater now. I expect the price will drop well below $100. The problem being that old hands have spent money on luxuries, goods, services, etc...
This is a Bitcoin "bank run" and companies will follow the model inspired by JP Morgan and buy for 1/100th of the price pre-drop. That puts us at around $45/btc...
The idea is to recover your losses on the way up while multiplying your market share. This is full-blown panic mode. I don't think the bottom can hold until new money finds the market...
I never thought I would see the price this low but it's still too high to jump in because the panic hasn't stopped...
