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On December 07 2013 20:16 0x64 wrote:
Sadly, it hard to see it go much lower with the high volume that has happened at this level, a stabilization under 500 would be the best that could happen. And then, the coin starts to be useful again!
Speculation is needed, bubbles are not. If no one puts money in the coin, then no merchant is ready to trade for it. The more merchant use it, the more it become used as a currency and the harder it is for a bubble to happen.
Another thing that needs to happen is that a big part of the trading (it has already happened in someway) goes out of mtgox. MtGox has always been the weakest technical link. It can't handle the volume.
I don't see why you guys don't understand distributed backing. The price is always backed at the current price or it would crashed indefinitely. That's why the crash is a good thing. People that owned coins that were not backing take there money out, those that are backing put there money back in right away.
This is how distributed backing works. Even when the price is very low, a person who bought it high and keeps it, is backing it for the value he bought in.
Now this is a much more sensible post. I agree for the most part of this, however I do have a problem with the last bit. Distributed backing means jack. One can back it because he realizes it can be worth more than it is, or he's simply in denial and hopes it will become something more than it is. On the one hand you've got smart money, on the other, not so much. Whichever is the case for bitcoin I'm not sure. If only the people that are backing it, are in it and no new money gets pumped into the system it will never reach a higher amount than what they've bought into.
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Yeah, the hyping only hurts the credibility of the coin. I myself, online fall to hyping but trying to avoid talking about it in real life.
They will know once it is ready, you can't rush it.
Hey guys, now a serious question.
What do you think happens when bigger and bigger backers enter the game.
That would reduce the pool of bitcoin turning and a reduced pool would increase the volatility of the market. The market value would then become disconnected to the backed value.
On the other hand, the more backed it is, the less the value has reasons to fluctuate.
So what is the optimal repartition and how do you see things happening. Can it ever be stable?
Currently there are higher volumes on a higher price. The falls are much slower and on a much longer time frame than we have seen previously.
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On December 07 2013 20:38 0x64 wrote:
Yeah, the hyping only hurts the credibility of the coin. I myself, online fall to hyping but trying to avoid talking about it in real life.
They will know once it is ready, you can't rush it.
Hey guys, now a serious question.
What do you think happens when bigger and bigger backers enter the game.
That would reduce the pool of bitcoin turning and a reduced pool would increase the volatility of the market. The market value would then become disconnected to the backed value.
On the other hand, the more backed it is, the less the value has reasons to fluctuate.
So what is the optimal repartition and how do you see things happening. Can it ever be stable?
Currently there are higher volumes on a higher price. The falls are much slower and on a much longer time frame than we have seen previously.
The more money that is in the system the less volatile it should become, however, there are big players in the market with thousands to hundred thousands of coins in one hand. That spells disaster as soon as one or a couple of them will sell. It'll look like a crash, even though it's just one or a couple of persons selling. That's why rather than having the same people buy in again at lower levels, you would be better off with new money entering the market.
That's one of the main problems with bitcoin, it has a liquidity that's absolute rubbish.
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Is bitcoin mining now more feasible, with the higher value per bitcoin? Or is it not that simple?
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On December 07 2013 21:04 Crypdos wrote:
Is bitcoin mining now more feasible, with the higher value per bitcoin? Or is it not that simple?
Mining bitcoin is futile at the moment. There's pretty much a cartel of miners who've got equipment you cannot even get close to. You would be spending more on your electricity bill than you would get back in bitcoins.
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On December 07 2013 21:04 Crypdos wrote:
Is bitcoin mining now more feasible, with the higher value per bitcoin? Or is it not that simple?
it's not, it gets harder to mine bitcoin.
This combined with the limited supply of bitcoin are basically begging people to come and get all the coins while it is available and "cheap" thus why we have high amount of people buying in at a price that most people would deem as bubble price.
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On December 07 2013 20:24 Shival wrote:Show nested quote +On December 07 2013 09:48 Mstring wrote:On December 07 2013 09:32 Shival wrote:On December 07 2013 09:10 Mstring wrote:On December 07 2013 08:48 Shival wrote:On December 07 2013 08:12 Mstring wrote:
Can someone explain to me why you want your 'currency' to have intrinsic value/to be a store of wealth/a commodity?
Money without intrinsic value allows for simple creation and destruction: you just enter a few numbers into a computer, or print a few pieces of paper. You can't print gold; you can't type Bitcoins into existence. No intrinsic value means it's worth nothing by itself, and very much a risky commodity to suddenly drop to zero worth without a centralized system regulating its worth. Something without value isn't a commodity at all, let alone a "risky" one. We're all sold the idea that money is a commodity with some value and thus it's justified for banks to charge interest on loaning it. If money has negligible intrinsic value, what exactly are you being loaned when you take out a bank loan? True, commodity was the wrong term to use. However, fiat money is in no way a commodity, and to my knowledge hasn't been said to be by any reputable economist. Indeed fiat currency is in no way a commodity except in cash form as kindling. I am wondering why people want their currency to be a commodity; how they think it will solve the problems we experience today. On December 07 2013 09:32 Shival wrote:
You're being loaned a common coin that's been deemed acceptable payment and must be accepted in x country by law as payment. It's the law that gives a coin its status, and the central bank that handles its viability as a relatively stable coin. Are you saying that when the bank 'loans' me say $250,000 "common coin[s]" that the bank is no longer able to use these for itself? That the bank must have this entire sum of currency 'in the vault', so to speak, before it can 'loan' to others? My problem here is that the idea that currency is a commodity is sold to us from childhood. The idea that money is commodity-like* and expertly managed by men way smarter than us must be believed in order for banks to justify charging interest on 'loans'. No one would swallow the idea that we must additionally labour often the entire principal value of the homes we buy all to receive some paper that we could have printed ourselves for pennies. If an actual commodity becomes currency, how are modern debt problems solved? You can't service your interest bearing BTC debts by borrowing more BTC if there aren't enough left in existence to borrow. (*as opposed to its true and original meaning: a promise of future labour, a glorified IOU; see old banknotes from the Bank of England for modern vestiges of this understanding) Well, yes, in part the bank cannot use those same $250,000. However, the bank can 'loan' $250,000 themselves at pretty much no rent at all. So, in essence they're spending money they don't have. Agreed, I assume most people would see that as a problem. Debt problems cannot be solved if a commodity becomes a currency, nearly every country would topple. In part our current financial world may be living on borrowed time, but at the same time, the world's economic growth is also due to that system. If we were spending a commodity with a finite amount, when one country is having economic growth, another would be in recession. Show nested quote +On December 07 2013 17:35 Chrono000 wrote:
HOLY **** 650 is the bottom! quick jump back on BTC. FAST! $576 actually. Something tells me you're invested in BTC. What you're doing right now is exactly what I'm warning for, hyping the coin.
650 was the real bottom. everything below that didnt last long enough. Its not to late 30-40% discount going on now!
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On December 08 2013 00:01 Chrono000 wrote:Show nested quote +On December 07 2013 20:24 Shival wrote:On December 07 2013 09:48 Mstring wrote:On December 07 2013 09:32 Shival wrote:On December 07 2013 09:10 Mstring wrote:On December 07 2013 08:48 Shival wrote:On December 07 2013 08:12 Mstring wrote:
Can someone explain to me why you want your 'currency' to have intrinsic value/to be a store of wealth/a commodity?
Money without intrinsic value allows for simple creation and destruction: you just enter a few numbers into a computer, or print a few pieces of paper. You can't print gold; you can't type Bitcoins into existence. No intrinsic value means it's worth nothing by itself, and very much a risky commodity to suddenly drop to zero worth without a centralized system regulating its worth. Something without value isn't a commodity at all, let alone a "risky" one. We're all sold the idea that money is a commodity with some value and thus it's justified for banks to charge interest on loaning it. If money has negligible intrinsic value, what exactly are you being loaned when you take out a bank loan? True, commodity was the wrong term to use. However, fiat money is in no way a commodity, and to my knowledge hasn't been said to be by any reputable economist. Indeed fiat currency is in no way a commodity except in cash form as kindling. I am wondering why people want their currency to be a commodity; how they think it will solve the problems we experience today. On December 07 2013 09:32 Shival wrote:
You're being loaned a common coin that's been deemed acceptable payment and must be accepted in x country by law as payment. It's the law that gives a coin its status, and the central bank that handles its viability as a relatively stable coin. Are you saying that when the bank 'loans' me say $250,000 "common coin[s]" that the bank is no longer able to use these for itself? That the bank must have this entire sum of currency 'in the vault', so to speak, before it can 'loan' to others? My problem here is that the idea that currency is a commodity is sold to us from childhood. The idea that money is commodity-like* and expertly managed by men way smarter than us must be believed in order for banks to justify charging interest on 'loans'. No one would swallow the idea that we must additionally labour often the entire principal value of the homes we buy all to receive some paper that we could have printed ourselves for pennies. If an actual commodity becomes currency, how are modern debt problems solved? You can't service your interest bearing BTC debts by borrowing more BTC if there aren't enough left in existence to borrow. (*as opposed to its true and original meaning: a promise of future labour, a glorified IOU; see old banknotes from the Bank of England for modern vestiges of this understanding) Well, yes, in part the bank cannot use those same $250,000. However, the bank can 'loan' $250,000 themselves at pretty much no rent at all. So, in essence they're spending money they don't have. Agreed, I assume most people would see that as a problem. Debt problems cannot be solved if a commodity becomes a currency, nearly every country would topple. In part our current financial world may be living on borrowed time, but at the same time, the world's economic growth is also due to that system. If we were spending a commodity with a finite amount, when one country is having economic growth, another would be in recession. On December 07 2013 17:35 Chrono000 wrote:
HOLY **** 650 is the bottom! quick jump back on BTC. FAST! $576 actually. Something tells me you're invested in BTC. What you're doing right now is exactly what I'm warning for, hyping the coin. 650 was the real bottom. everything below that didnt last long enough. Its not to late 30-40% discount going on now!
What the hell are you talking about? There's no time limit that constitutes a bottom. $576 was the bottom.
You said 650 is the bottom at a moment when it suddenly jumped up, telling people to quickly jump back on while there was no clear sign it was the bottom. In fact, even $576 may be a short term bottom. It's still in a downward momentum on 4h charts. In the mean time you can scalp if you're so inclined to take huge volatility risks for granted.
There's no discount, at best this is a price level that is actually sustainable for the moment.
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On December 08 2013 00:29 Shival wrote:Show nested quote +On December 08 2013 00:01 Chrono000 wrote:On December 07 2013 20:24 Shival wrote:On December 07 2013 09:48 Mstring wrote:On December 07 2013 09:32 Shival wrote:On December 07 2013 09:10 Mstring wrote:On December 07 2013 08:48 Shival wrote:On December 07 2013 08:12 Mstring wrote:
Can someone explain to me why you want your 'currency' to have intrinsic value/to be a store of wealth/a commodity?
Money without intrinsic value allows for simple creation and destruction: you just enter a few numbers into a computer, or print a few pieces of paper. You can't print gold; you can't type Bitcoins into existence. No intrinsic value means it's worth nothing by itself, and very much a risky commodity to suddenly drop to zero worth without a centralized system regulating its worth. Something without value isn't a commodity at all, let alone a "risky" one. We're all sold the idea that money is a commodity with some value and thus it's justified for banks to charge interest on loaning it. If money has negligible intrinsic value, what exactly are you being loaned when you take out a bank loan? True, commodity was the wrong term to use. However, fiat money is in no way a commodity, and to my knowledge hasn't been said to be by any reputable economist. Indeed fiat currency is in no way a commodity except in cash form as kindling. I am wondering why people want their currency to be a commodity; how they think it will solve the problems we experience today. On December 07 2013 09:32 Shival wrote:
You're being loaned a common coin that's been deemed acceptable payment and must be accepted in x country by law as payment. It's the law that gives a coin its status, and the central bank that handles its viability as a relatively stable coin. Are you saying that when the bank 'loans' me say $250,000 "common coin[s]" that the bank is no longer able to use these for itself? That the bank must have this entire sum of currency 'in the vault', so to speak, before it can 'loan' to others? My problem here is that the idea that currency is a commodity is sold to us from childhood. The idea that money is commodity-like* and expertly managed by men way smarter than us must be believed in order for banks to justify charging interest on 'loans'. No one would swallow the idea that we must additionally labour often the entire principal value of the homes we buy all to receive some paper that we could have printed ourselves for pennies. If an actual commodity becomes currency, how are modern debt problems solved? You can't service your interest bearing BTC debts by borrowing more BTC if there aren't enough left in existence to borrow. (*as opposed to its true and original meaning: a promise of future labour, a glorified IOU; see old banknotes from the Bank of England for modern vestiges of this understanding) Well, yes, in part the bank cannot use those same $250,000. However, the bank can 'loan' $250,000 themselves at pretty much no rent at all. So, in essence they're spending money they don't have. Agreed, I assume most people would see that as a problem. Debt problems cannot be solved if a commodity becomes a currency, nearly every country would topple. In part our current financial world may be living on borrowed time, but at the same time, the world's economic growth is also due to that system. If we were spending a commodity with a finite amount, when one country is having economic growth, another would be in recession. On December 07 2013 17:35 Chrono000 wrote:
HOLY **** 650 is the bottom! quick jump back on BTC. FAST! $576 actually. Something tells me you're invested in BTC. What you're doing right now is exactly what I'm warning for, hyping the coin. 650 was the real bottom. everything below that didnt last long enough. Its not to late 30-40% discount going on now! What the hell are you talking about? There's no time limit that constitutes a bottom. $576 was the bottom. You said 650 is the bottom at a moment when it suddenly jumped up, telling people to quickly jump back on while there was no clear sign it was the bottom. In fact, even $576 may be a short term bottom. It's still in a downward momentum on 4h charts. In the mean time you can scalp if you're so inclined to take huge volatility risks for granted. There's no discount, at best this is a price level that is actually sustainable for the moment.
dude listen. it was around 650 for awhile. anything below that was too short to buy in. its not too late, 773 right now!
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On December 08 2013 00:33 Chrono000 wrote:Show nested quote +On December 08 2013 00:29 Shival wrote:On December 08 2013 00:01 Chrono000 wrote:On December 07 2013 20:24 Shival wrote:On December 07 2013 09:48 Mstring wrote:On December 07 2013 09:32 Shival wrote:On December 07 2013 09:10 Mstring wrote:On December 07 2013 08:48 Shival wrote:On December 07 2013 08:12 Mstring wrote:
Can someone explain to me why you want your 'currency' to have intrinsic value/to be a store of wealth/a commodity?
Money without intrinsic value allows for simple creation and destruction: you just enter a few numbers into a computer, or print a few pieces of paper. You can't print gold; you can't type Bitcoins into existence. No intrinsic value means it's worth nothing by itself, and very much a risky commodity to suddenly drop to zero worth without a centralized system regulating its worth. Something without value isn't a commodity at all, let alone a "risky" one. We're all sold the idea that money is a commodity with some value and thus it's justified for banks to charge interest on loaning it. If money has negligible intrinsic value, what exactly are you being loaned when you take out a bank loan? True, commodity was the wrong term to use. However, fiat money is in no way a commodity, and to my knowledge hasn't been said to be by any reputable economist. Indeed fiat currency is in no way a commodity except in cash form as kindling. I am wondering why people want their currency to be a commodity; how they think it will solve the problems we experience today. On December 07 2013 09:32 Shival wrote:
You're being loaned a common coin that's been deemed acceptable payment and must be accepted in x country by law as payment. It's the law that gives a coin its status, and the central bank that handles its viability as a relatively stable coin. Are you saying that when the bank 'loans' me say $250,000 "common coin[s]" that the bank is no longer able to use these for itself? That the bank must have this entire sum of currency 'in the vault', so to speak, before it can 'loan' to others? My problem here is that the idea that currency is a commodity is sold to us from childhood. The idea that money is commodity-like* and expertly managed by men way smarter than us must be believed in order for banks to justify charging interest on 'loans'. No one would swallow the idea that we must additionally labour often the entire principal value of the homes we buy all to receive some paper that we could have printed ourselves for pennies. If an actual commodity becomes currency, how are modern debt problems solved? You can't service your interest bearing BTC debts by borrowing more BTC if there aren't enough left in existence to borrow. (*as opposed to its true and original meaning: a promise of future labour, a glorified IOU; see old banknotes from the Bank of England for modern vestiges of this understanding) Well, yes, in part the bank cannot use those same $250,000. However, the bank can 'loan' $250,000 themselves at pretty much no rent at all. So, in essence they're spending money they don't have. Agreed, I assume most people would see that as a problem. Debt problems cannot be solved if a commodity becomes a currency, nearly every country would topple. In part our current financial world may be living on borrowed time, but at the same time, the world's economic growth is also due to that system. If we were spending a commodity with a finite amount, when one country is having economic growth, another would be in recession. On December 07 2013 17:35 Chrono000 wrote:
HOLY **** 650 is the bottom! quick jump back on BTC. FAST! $576 actually. Something tells me you're invested in BTC. What you're doing right now is exactly what I'm warning for, hyping the coin. 650 was the real bottom. everything below that didnt last long enough. Its not to late 30-40% discount going on now! What the hell are you talking about? There's no time limit that constitutes a bottom. $576 was the bottom. You said 650 is the bottom at a moment when it suddenly jumped up, telling people to quickly jump back on while there was no clear sign it was the bottom. In fact, even $576 may be a short term bottom. It's still in a downward momentum on 4h charts. In the mean time you can scalp if you're so inclined to take huge volatility risks for granted. There's no discount, at best this is a price level that is actually sustainable for the moment. dude listen. it was around 650 for awhile. anything below that was too short to buy in. its not too late, 773 right now!
I've seen both bottoms, 650 went up just as fast. In fact, if I look back on the charts both stayed around the bottom for around 10 minutes, jumping up around those bottoms a few times.
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On December 08 2013 00:37 Shival wrote:Show nested quote +On December 08 2013 00:33 Chrono000 wrote:On December 08 2013 00:29 Shival wrote:On December 08 2013 00:01 Chrono000 wrote:On December 07 2013 20:24 Shival wrote:On December 07 2013 09:48 Mstring wrote:On December 07 2013 09:32 Shival wrote:On December 07 2013 09:10 Mstring wrote:On December 07 2013 08:48 Shival wrote:On December 07 2013 08:12 Mstring wrote:
Can someone explain to me why you want your 'currency' to have intrinsic value/to be a store of wealth/a commodity?
Money without intrinsic value allows for simple creation and destruction: you just enter a few numbers into a computer, or print a few pieces of paper. You can't print gold; you can't type Bitcoins into existence. No intrinsic value means it's worth nothing by itself, and very much a risky commodity to suddenly drop to zero worth without a centralized system regulating its worth. Something without value isn't a commodity at all, let alone a "risky" one. We're all sold the idea that money is a commodity with some value and thus it's justified for banks to charge interest on loaning it. If money has negligible intrinsic value, what exactly are you being loaned when you take out a bank loan? True, commodity was the wrong term to use. However, fiat money is in no way a commodity, and to my knowledge hasn't been said to be by any reputable economist. Indeed fiat currency is in no way a commodity except in cash form as kindling. I am wondering why people want their currency to be a commodity; how they think it will solve the problems we experience today. On December 07 2013 09:32 Shival wrote:
You're being loaned a common coin that's been deemed acceptable payment and must be accepted in x country by law as payment. It's the law that gives a coin its status, and the central bank that handles its viability as a relatively stable coin. Are you saying that when the bank 'loans' me say $250,000 "common coin[s]" that the bank is no longer able to use these for itself? That the bank must have this entire sum of currency 'in the vault', so to speak, before it can 'loan' to others? My problem here is that the idea that currency is a commodity is sold to us from childhood. The idea that money is commodity-like* and expertly managed by men way smarter than us must be believed in order for banks to justify charging interest on 'loans'. No one would swallow the idea that we must additionally labour often the entire principal value of the homes we buy all to receive some paper that we could have printed ourselves for pennies. If an actual commodity becomes currency, how are modern debt problems solved? You can't service your interest bearing BTC debts by borrowing more BTC if there aren't enough left in existence to borrow. (*as opposed to its true and original meaning: a promise of future labour, a glorified IOU; see old banknotes from the Bank of England for modern vestiges of this understanding) Well, yes, in part the bank cannot use those same $250,000. However, the bank can 'loan' $250,000 themselves at pretty much no rent at all. So, in essence they're spending money they don't have. Agreed, I assume most people would see that as a problem. Debt problems cannot be solved if a commodity becomes a currency, nearly every country would topple. In part our current financial world may be living on borrowed time, but at the same time, the world's economic growth is also due to that system. If we were spending a commodity with a finite amount, when one country is having economic growth, another would be in recession. On December 07 2013 17:35 Chrono000 wrote:
HOLY **** 650 is the bottom! quick jump back on BTC. FAST! $576 actually. Something tells me you're invested in BTC. What you're doing right now is exactly what I'm warning for, hyping the coin. 650 was the real bottom. everything below that didnt last long enough. Its not to late 30-40% discount going on now! What the hell are you talking about? There's no time limit that constitutes a bottom. $576 was the bottom. You said 650 is the bottom at a moment when it suddenly jumped up, telling people to quickly jump back on while there was no clear sign it was the bottom. In fact, even $576 may be a short term bottom. It's still in a downward momentum on 4h charts. In the mean time you can scalp if you're so inclined to take huge volatility risks for granted. There's no discount, at best this is a price level that is actually sustainable for the moment. dude listen. it was around 650 for awhile. anything below that was too short to buy in. its not too late, 773 right now! I've seen both bottoms, 650 went up just as fast. In fact, if I look back on the charts both stayed around the bottom for around 10 minutes, jumping up around those bottoms a few times.
give me a break hitting the pure bottom is luck. around 650 was the real deal!
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On December 08 2013 00:58 Chrono000 wrote:Show nested quote +On December 08 2013 00:37 Shival wrote:On December 08 2013 00:33 Chrono000 wrote:On December 08 2013 00:29 Shival wrote:On December 08 2013 00:01 Chrono000 wrote:On December 07 2013 20:24 Shival wrote:On December 07 2013 09:48 Mstring wrote:On December 07 2013 09:32 Shival wrote:On December 07 2013 09:10 Mstring wrote:On December 07 2013 08:48 Shival wrote:
[quote]
No intrinsic value means it's worth nothing by itself, and very much a risky commodity to suddenly drop to zero worth without a centralized system regulating its worth. Something without value isn't a commodity at all, let alone a "risky" one. We're all sold the idea that money is a commodity with some value and thus it's justified for banks to charge interest on loaning it. If money has negligible intrinsic value, what exactly are you being loaned when you take out a bank loan? True, commodity was the wrong term to use. However, fiat money is in no way a commodity, and to my knowledge hasn't been said to be by any reputable economist. Indeed fiat currency is in no way a commodity except in cash form as kindling. I am wondering why people want their currency to be a commodity; how they think it will solve the problems we experience today. On December 07 2013 09:32 Shival wrote:
You're being loaned a common coin that's been deemed acceptable payment and must be accepted in x country by law as payment. It's the law that gives a coin its status, and the central bank that handles its viability as a relatively stable coin. Are you saying that when the bank 'loans' me say $250,000 "common coin[s]" that the bank is no longer able to use these for itself? That the bank must have this entire sum of currency 'in the vault', so to speak, before it can 'loan' to others? My problem here is that the idea that currency is a commodity is sold to us from childhood. The idea that money is commodity-like* and expertly managed by men way smarter than us must be believed in order for banks to justify charging interest on 'loans'. No one would swallow the idea that we must additionally labour often the entire principal value of the homes we buy all to receive some paper that we could have printed ourselves for pennies. If an actual commodity becomes currency, how are modern debt problems solved? You can't service your interest bearing BTC debts by borrowing more BTC if there aren't enough left in existence to borrow. (*as opposed to its true and original meaning: a promise of future labour, a glorified IOU; see old banknotes from the Bank of England for modern vestiges of this understanding) Well, yes, in part the bank cannot use those same $250,000. However, the bank can 'loan' $250,000 themselves at pretty much no rent at all. So, in essence they're spending money they don't have. Agreed, I assume most people would see that as a problem. Debt problems cannot be solved if a commodity becomes a currency, nearly every country would topple. In part our current financial world may be living on borrowed time, but at the same time, the world's economic growth is also due to that system. If we were spending a commodity with a finite amount, when one country is having economic growth, another would be in recession. On December 07 2013 17:35 Chrono000 wrote:
HOLY **** 650 is the bottom! quick jump back on BTC. FAST! $576 actually. Something tells me you're invested in BTC. What you're doing right now is exactly what I'm warning for, hyping the coin. 650 was the real bottom. everything below that didnt last long enough. Its not to late 30-40% discount going on now! What the hell are you talking about? There's no time limit that constitutes a bottom. $576 was the bottom. You said 650 is the bottom at a moment when it suddenly jumped up, telling people to quickly jump back on while there was no clear sign it was the bottom. In fact, even $576 may be a short term bottom. It's still in a downward momentum on 4h charts. In the mean time you can scalp if you're so inclined to take huge volatility risks for granted. There's no discount, at best this is a price level that is actually sustainable for the moment. dude listen. it was around 650 for awhile. anything below that was too short to buy in. its not too late, 773 right now! I've seen both bottoms, 650 went up just as fast. In fact, if I look back on the charts both stayed around the bottom for around 10 minutes, jumping up around those bottoms a few times. give me a break hitting the pure bottom is luck. around 650 was the real deal!
Nope. It was below 650 for around 1 hour. Besides, calling a bottom with bitcoin is pure guesswork, it's really hard to call bottoms on bubbles. So obviously hitting a bottom to buy in again is pure luck.
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been thinking about throwing 1K at bit coin
where should I purchase BTC? mtgox.com?
who provides quickest BTC > USD?
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Hey, i have a question about mtgox. I have bought bitcoins and transfered them to my Mtgox account, this account is not verified. Can i start trading Btc to euro? I have tried selling 0.001 bitcoin to test it, but it keeps on 'loading' when i press sell with a market order. Maybe its mtgox site being crap atm?
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On December 08 2013 01:30 udgnim wrote:
been thinking about throwing 1K at bit coin
where should I purchase BTC? mtgox.com?
who provides quickest BTC > USD?
mtgox is ok but u might have trouble getting verified quickly. i hear a lot of people from the US like coinbase.
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On December 08 2013 01:36 Merik wrote:
Hey, i have a question about mtgox. I have bought bitcoins and transfered them to my Mtgox account, this account is not verified. Can i start trading Btc to euro? I have tried selling 0.001 bitcoin to test it, but it keeps on 'loading' when i press sell with a market order. Maybe its mtgox site being crap atm?
really? have u tried again? 0.001 might be too low im no sure...
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On December 08 2013 01:45 Chrono000 wrote:Show nested quote +On December 08 2013 01:36 Merik wrote:
Hey, i have a question about mtgox. I have bought bitcoins and transfered them to my Mtgox account, this account is not verified. Can i start trading Btc to euro? I have tried selling 0.001 bitcoin to test it, but it keeps on 'loading' when i press sell with a market order. Maybe its mtgox site being crap atm? really? have u tried again? 0.001 might be too low im no sure...
I tried again now, now it says order too low, so i guess its ok now.
Another question: Is it normal that the Buying box has a green color and the selling box a red color?
Thanks
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On December 08 2013 01:49 Merik wrote:Show nested quote +On December 08 2013 01:45 Chrono000 wrote:On December 08 2013 01:36 Merik wrote:
Hey, i have a question about mtgox. I have bought bitcoins and transfered them to my Mtgox account, this account is not verified. Can i start trading Btc to euro? I have tried selling 0.001 bitcoin to test it, but it keeps on 'loading' when i press sell with a market order. Maybe its mtgox site being crap atm? really? have u tried again? 0.001 might be too low im no sure... I tried again now, now it says order too low, so i guess its ok now. Another question: Is it normal that the Buying box has a green color and the selling box a red color? Thanks
yeah its normal. before it was barely visible and u screw yourself by selling when u want to buy.
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On December 08 2013 01:30 udgnim wrote:
been thinking about throwing 1K at bit coin
where should I purchase BTC? mtgox.com?
who provides quickest BTC > USD?
Takes a while to get verified, but I would recommend waiting until the market has calmed down again. There's still alot of panicked selling going on.
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On December 08 2013 01:59 Shival wrote:Show nested quote +On December 08 2013 01:30 udgnim wrote:
been thinking about throwing 1K at bit coin
where should I purchase BTC? mtgox.com?
who provides quickest BTC > USD? Takes a while to get verified, but I would recommend waiting until the market has calmed down again. There's still alot of panicked selling going on.
Hmmm mtgox is the priciest one to buy from and they have hard tie dealing with high volume on short periods.
For buying, maybe bitstamp or btc-e.
Maybe someone can give more information from which you should buy.
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EPT
