EVEN I THOUGHT BITCOIN WAS DEAD!!
bitcoin works on faith and I think a little faith is being restored. That guy who made the $120,000 investment made a great investment.
bitcoin works on faith and I think a little faith is being restored. That guy who made the $120,000 investment made a great investment.
I would feel a little safer if it was a gradual increase after we were all sure the decline was over, it still feels we could slip back down any minute
the investor will likely just sell back out if he see's he hasn't kicked off a rally, The fear of going through 10 then free falling to 5's again will be on his mind. its on ficken mine
Agreed, it's still far from the $15 range we were seeing just a week or two ago.
I'd love for it to shoot up again, but you guys are insane, it goes down 6-8 bucks over a week then comes back 5 and you think it's rallying.
it's unhealthy thinking
it's unhealthy thinking
+1
I think it's just as likely to drop back down again, especially since this jump wasn't accompanied by any good news, promotion, or anything new at all. Hash rates continue to fall and all the press has been super negative. MyBitcoin and the Bitcoin Police have only brought up more sketchiness and mistrust. I'm still sticking by my prediction that it will bottom out around $5-6 within the next month or so. Unfortunately, I can also think of scenarios where it crashes below $1 too... but I'll stay optimistic for now.
It's funny how hackers flooding the market with 75K coins from mybitcoin.com is called a "crash". When someone with 150k buys up the market it's not a rally it's "temporary blip".
Hash rates have nothing to do with anything. Bitcoin works just as well at 1.5k ghash as it does at 15k ghash.
Bad press? You heard the press on the USD? Do you still use USD? Have you moved all your savings out of USD? Do you still get paid in USD?
People use Bitcoins as a currency. What that currency trades for on the open market doesn't mean jack squat. Sellers don't sell at a fixed BTC price. They sell at a fixed USD price. Bitcoins could be worth 10 cents and it doesn't change how these transactions work. When you go buy $50 worth of bitcoins to buy that bong you've had your eye on, does it really matter if you buy 100 bitcoins with that $50 or 2 bitcoins? The buyer/seller don't really care.
The people who care are the miners, investors, day traders, get rich quick crew. None of those people are needed. 80% of miners could fuck off and it would barely be a blip in the community. An 80% exodus would take 2-3 weeks plenty of time for difficulty to adjust. Even if there was a span where transactions took 15 minutes instead of 5 to confirm? Big deal. Eventually it adjusts and things are back to normal. No more trading bots? Sign me up for that. Get rid of the drama queens, the pumper and dumpers, get rich quick crew, and most of the cancer of the bitcoin community is gone.
Trust me they're not nearly as important as they'd tell you they are. And the USD value of BTC isn't nearly as important as people tell you it is. In fact, it isn't important at all. If Bitcoins magically stayed at $2 for the next 10 years it would work just fine. People mine at a loss at various folding projects, lots of people don't pay for electricity, there'd be plenty of miners still cranking away.