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scDeluX
Canada1300 Posts
When I made the thread the interest was pretty low and people got harsh on criticism pretty fast. I though TL community would be more interested in something like bitcoins. It's a pretty popular thread on liquidpoker. Anyway maybe the recent price will spark up the interest over here, I'll check for the op tomorrow and if someone wanna contribute feel free to pm me. | ||
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hollabackk
91 Posts
On November 19 2013 01:47 Acrofales wrote: All the naysayers, including myself are currently kicking themselves that we didn't buy bitcoins half a year ago when this thread popped up (or whenever you heard of them, including a week ago)! Current rate: $ 548.40, and it peaked at $ 611! Litecoin seems to be the current craze. This whole invention of a new currency and investors starting to go nuts over it is pretty fucking interesting. I kinda want to buy into the hype, particularly the litecoin looks like it has plenty of room to grow, but it's pretty slow and tedious to get money into a system that the trading sites accept... and I think that by the time I have money on one of the trading sites, it'll be largely too late to get in at the current low prices. Maybe if you have USD, it's easier? Litcoin isn't the way to go. And yeah i sold my bitcoins off this summer at 150$. Almost bought again recently but the prices seemed so high. Would have made an easy 20k if i never sold. Oh well, c'est la vie. | ||
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Shival
Netherlands643 Posts
Bit earlier than expected at $900, but it's now at $500. Should drop further to $200-300. If it stays around that area for a couple weeks, it should eventually go to $2000. If it drops even lower than $200 you might aswell call the bitcoin craze a hype and it won't go over $800 again anytime soon, if ever. | ||
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Acrofales
Spain15829 Posts
On November 20 2013 15:11 Shival wrote: Bit earlier than expected at $900, but it's now at $500. Should drop further to $200-300. If it stays around that area for a couple weeks, it should eventually go to $2000. If it drops even lower than $200 you might aswell call the bitcoin craze a hype and it won't go over $800 again anytime soon, if ever. What do you base this on? | ||
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Shival
Netherlands643 Posts
Previous bitcoin crashes mainly, and trying to read sentiment in the market. Where are likely major sell points, and if market has trust in bitcoin's longevity it shouldn't drop below value before the bubble. So there should be major support at that area. Anyway, compare these two graphs. One is the major crash of april 2013. The next one is now. http://bitcoincharts.com/charts/mtgoxUSD#igDailyzczsg2013-02-16zeg2013-04-17ztgSzbgDzm1g10zm2g25zv http://bitcoincharts.com/charts/mtgoxUSD#rg60zigDailyzczsg2013-09-22zeg2013-11-21ztgSzbgDzm1g10zm2g25zv Generally there's ~2.5 times the money doubles (50--->100--->200->300->drop) before the next crash. So, expecting it to stop dropping at 300 would make, 300--->600--->1200->1800->drop. Drops also happen after wave 4 or 5. In the end, lots of speculation, but what do you expect with bitcoins? Noone really knows, it's more of an educated guess. | ||
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lepape
Canada541 Posts
But then again, the future of Bitcoin as a legitimate currency is far from certain, it does have some flaws, so it's always easy to regret things in hindsight. Now I'm buying a few, I'd rather be a moron gambling a few bucks than being a pussy who missed out on something great. | ||
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BirdKiller
United States428 Posts
On November 21 2013 09:25 lepape wrote: I'd like to go back in time to not even buy bitcoins, but just to punch myself in the nuts for being such a pussy and not buying some. But then again, the future of Bitcoin as a legitimate currency is far from certain, it does have some flaws, so it's always easy to regret things in hindsight. Now I'm buying a few, I'd rather be a moron gambling a few bucks than being a pussy who missed out on something great. I highly disagree on the idea that not jumping onto bitcoin in its early stages was being a pussy. Hindsight makes everything obvious and clear. What you just wrote isn't just applicable to bitcoin, but other for other types of securities that are very risky, fragile, or simply a gamble. If you want to have the same opportunity that bitcoin initially offered to you, I'd look into penny stocks then. | ||
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sam!zdat
United States5559 Posts
bitcoin is a bubble. You can play with bubbles but don't delude yourself into thinking you doing anything other than investing in tulips | ||
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lepape
Canada541 Posts
(But then again, it is a prerequisite for a bubble to have a good underlying story) The problem is that it's actual potential as a currency is very hard to imagine, partly because of it's deflationist nature and because... there's not much genuine interest outside criminal groups, crytopgraphy enthousiasts and wannabe anarchist circles. Also, now that there's already a hundred new cryptocurrencies out there with improvements in some form or another, all bets are up concerning which will prevail 10, 50 years from now (if any). Anyway, for geeky kids like me, there's something really cool about holding some underground currency that you can only use in like three stores in your whole neibourghood. Maybe it's just some crazy delusional investment, but it's a lot more interesting to follow than any penny stock out there (and less prone to pump and dump schemes). | ||
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Shival
Netherlands643 Posts
On November 20 2013 22:00 Shival wrote: Previous bitcoin crashes mainly, and trying to read sentiment in the market. Where are likely major sell points, and if market has trust in bitcoin's longevity it shouldn't drop below value before the bubble. So there should be major support at that area. Anyway, compare these two graphs. One is the major crash of april 2013. The next one is now. http://bitcoincharts.com/charts/mtgoxUSD#igDailyzczsg2013-02-16zeg2013-04-17ztgSzbgDzm1g10zm2g25zv http://bitcoincharts.com/charts/mtgoxUSD#rg60zigDailyzczsg2013-09-22zeg2013-11-21ztgSzbgDzm1g10zm2g25zv Generally there's ~2.5 times the money doubles (50--->100--->200->300->drop) before the next crash. So, expecting it to stop dropping at 300 would make, 300--->600--->1200->1800->drop. Drops also happen after wave 4 or 5. In the end, lots of speculation, but what do you expect with bitcoins? Noone really knows, it's more of an educated guess. Let me correct this, we might see a 5th wave going even higher than $1000. | ||
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SigmaoctanusIV
United States3130 Posts
 I am a sad sad bear. | ||
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ROOTFayth
Canada3350 Posts
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S1eth
Austria221 Posts
On November 22 2013 02:47 SigmaoctanusIV wrote: Jesus I remember when Bitcoins were selling for like 3 dollars I thought Keeping them was pointless I used to farm at work as I had 16-32 pcs with high end graphics cards as I was in RMA and was getting a couple coins a week and sold them all for like 120 bucks for 5$ a coin I am a sad sad bear.That sounds highly illegal. | ||
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Caihead
Canada8527 Posts
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moopie
12600 Posts
On November 23 2013 19:29 ROOTFayth wrote: why the hell would people sell for meaningless amount of money, it's like when cellphones came out, shit didn't boom overnight Because it wasn't meaningless. It was experimental (still is, only on a higher scale now with slightly more prospects). It was an attempt at cryptocurrency (one of several by the way), and since it isn't tied to any real commodity, nobody knew what the "true value" of a coin was (which is still true today). It's like the story about the guy who ordered a pizza with 10000 bitcoins. It might seem like a terrible idea in hindsight, but at the time it made sense. | ||
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Caihead
Canada8527 Posts
No, it's actually even worse because people actually devote electricity and other expensive equipment and commodities in the "creation" or "extraction" of this commodity which actually is not creating any tangible benefit for society at all. If the root of the monetary system is to appropriate societal worth or commodity with an easy to use transferable medium the bitcoin is an absolute failure. Then again this isn't just exclusive to bitcoins, the same is true for all currency exchange that's endemic with the modern financial institutionalized monetary system, so I should stop being upset at it and actually focus on the much more tangible damage that currency trading is causing on developing countries (including my own). | ||
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SigmaoctanusIV
United States3130 Posts
It was legal, I worked for a video card company doing tech support and rma. At night we would "burn in cards" which meant to stress test them and one way we could do that was mine bit coins so we had 100s of top of the line cards and depending on if we had any customer returns that needed to be burned in we would run only ours on bitcoins. | ||
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moopie
12600 Posts
On November 23 2013 20:15 Caihead wrote: No, it's actually even worse because people actually devote electricity and other expensive equipment and commodities in the "creation" or "extraction" of this commodity which actually is not creating any tangible benefit for society at all. If the root of the monetary system is to appropriate societal worth or commodity with an easy to use transferable medium the bitcoin is an absolute failure. Then again this isn't just exclusive to bitcoins, the same is true for all currency exchange that's endemic with the modern financial institutionalized monetary system, so I should stop being upset at it and actually focus on the much more tangible damage that currency trading is causing on developing countries (including my own). My reply was regarding the act of selling for "meaningless amounts", not whether mining bitcoins and cryptocurrencies are beneficial to society. | ||
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GaliX
Germany373 Posts
Anybody already quit his job? :D | ||
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Derrida
2641 Posts
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