spacemonkey
I Love Noodles
That's fucking nuts.
Bitcoin discussion and news
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That's fucking nuts.
joustmaster
offcumdun
Yes.
At some point soon something is going to go fucked
Crispy
The following psytrance is baṉned: All
And that's when I'll buy some
junglevip
Marijuana leads to heron
Ooops!
junglevip
Marijuana leads to heron
joustmaster
offcumdun
coward!
I need capital to re-invest when the market corrects itself.
spacemonkey
I Love Noodles
So there's a site called bitbargain.co.uk with UK sellers. They can offer whatever price they want, so while the mtgox price is £95/btc, they're selling them on bitbargain for £110-£145 (and people are buying).
So I assume there's people buying and selling them same day and making a fat profit??
So I assume there's people buying and selling them same day and making a fat profit??
spacemonkey
I Love Noodles
And that's when I'll buy some
What price would you be willing to buy them at?
spacemonkey
I Love Noodles
There are kids on some forums absolutely shitting themselves, asking for financial advice etc, I'm assuming they're holiding thousands and they don't know what to do...
Crispy
The following psytrance is baṉned: All
Tell them to sell out all at once. But give me a day or two's warning please.
spacemonkey
I Love Noodles
Do you think today's price will be highest bitcoin will ever be in it's history? If not, why are you waiting for a slight drop?
I do find it mildly amusing that same conversations seem to be happening over and over as the price rises. I had these exact discussions on forums when it rose sharply to $30/btc.
Crispy
The following psytrance is baṉned: All
Whatever price it settles back down at when the bubble bursts, which will be a significant fraction of the current price if things go the same way they did last time (yes I know
)EDIT: ie. not a "slight" drop, but a reduction to 10-20% of the spike.
joustmaster
offcumdun
I think he is waiting for a huge drop
ExtraRefined
Better than you at everything you love
I think I'm going to spend my profits on a Patek Phillipe, just to annoy bi0boy
joustmaster
offcumdun
you can sell on one of the exchanges instantly. But if you actually want to get your cash out of the system then its a longer process
spacemonkey
I Love Noodles
Could look like this though.
There's no real precident for bitcoin...
bi0boy
Power User
Could look like this though.
yes it could but the risk of buying now is certainly high
There's all the other graphs of things bought and sold ever.
spacemonkey
I Love Noodles
yes it could but the risk of buying now is certainly high
There's all the other graphs of things bought and sold ever.
Yeah I know, it think the recent frenzy will settle. But we just don't know what the price of a bitcoin will settle at in the next 5 years. What if they're meant to settle around $1000/btc...or $10,000? There will only ever be 21m in existence and that final figure won't get hit until the next century. I just look at the number of ASCI miners waiting to be shipped, and the number of pending accounts on mtgox and can't help but think there's another few huge surges on the horizon in the near future.
ExtraRefined
Better than you at everything you love
Yeah that's basically correct Crispy. The supply of new bitcoins will increase a bit as the ASICs are rolled out and difficulty lags slightly, but it's not going to be a large factor in the price.
joustmaster
offcumdun
There are a lot of early adopters with huge amounts of coins. They will start dumping them and the market will dip. People will panic and it will dip further.
spacemonkey
I Love Noodles
Yeah you're right. I was thinking more in terms of the power of the bitcoin network vastly increasing, adding to its legitimacy and increasing confidence.
TheHoodedClaw
acknowledging ur soup leg
Buy a nice tulip instead, unless you can afford to lose the money you spend on a bitcoin.
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