221 replies to this topic

[kitcar765]

guess the bottom? i think £350  

hit £350  did i manage to guess the bottom? shame no-one is selling at £350  

[dave_dub86]

Everyone is dumping, it's not going to be back up around $1k any time soon. It could even go to pre Chinese interest at <$200... Good job we didn't all buy mining rigs haha!

[kitcar765]

boom and bust has happened before.  cant see it reaching less than $200 (£122) i still think £350 is a bottom, maybe bouncing to £530 then settling around £380 for a few months. Maybe 2015 for the next boom driven by all the bad economic news coming. Question is, the next boom starting from a level at £380, where will that run to? £1000, £1500? all guesswork. guess we will have a better idea late this evening. Markets have seen how high it can go now.  

[dave_dub86]

Historically, weekends are low volume anyway but I can't see the bulls getting the upper hand come Monday. I still need to covert my fiat to bitcoin to send across to bitstamp so I can make a couple of hundred on arbitrage but that's not happening until the market levels out.. Will I be keeping any btc behind? Maybe 0.25 or so but no more than that.

[kitcar765]

i was thinking about all the people who have thousands of coins. These people are normally very I.T geeks. And not necessarily good investors. The boom and bust is a great way to shake out the big coin holders and distribute the coins. The news from china was bad, but it isn't that bad.   Following the herd when its buy buy buy, then also following when its sell sell sell doesn't make for good investments. People priced in the potential of bitcoin, then went crazy. Its just finding a level. Long-term all of this only make bitcoin more well known and in the press more.  The basic idea of bitcoin is revolutionary, im not phased by the booms and busts. I prefer for the market to settle and stabilise (and save up!) before buying more. 

[kitcar765]

long term future is bright for bitcoin, its a fun ride guess the bottom? i think £350  

looks like i was exactly right £350 was the bottom. pretty good shout!  

[kitcar765]

http://www.bloomberg...n-sterling.html

im not the only one who thinks sterling will take a beating when the house price bubble bursts. gold silver and bitcoin people!

[kitcar765]

Last week the FTSE 100 seems to have broken. Is the 7 year recovery cycle over? (2000 dotcom bubble, 2007 credit bubble, 2014?) Is it time for financial crisis 2.0? Monday will be interesting to watch if the slide continues. Last chance to buy gold and bitcoin cheap? Is the crisis just starting or do we need to wait for the election in 2015.  

[Bargi]

$250 Bitcoin Exchange Prices Plummet as Investors Brace for Bankruptcy

[rik]

I've been mining since the start of december now, have got quite a nice bundle of litecoins, dogecoins and maxcoins

[dave_dub86]

Nice work man, you should check out vertcoin too you know, pretty profitable to mine and potentially has a great future. I've got 2 btc worth of vtc at the moment, holding until it reaches 0.01 then going on a holiday lol

[dave_dub86]

Also prepare to buy some cheap coins since it looks like gox is basically insolvent.. other exchanges aren't crashing too bad at the moment which is a good sign, the further the bitcoin community can move away from gox the better. If they end up bankrupt there will be a substantial amount of coins lost too which will make the existing coins automatically increase in value. I feel sorry for anyone with their money stuck in gox, must be terrible.

[siztenboots]

finally reality kicks in

[LY_Scott]

Still waiting for the 7 year recovery cycle.

[dave_dub86]

finally reality kicks in

?

[siztenboots]

It was always from a investment pov , just a ponzi scheme. Just where exactly was the liquidity for the market to work going to come from?

[dave_dub86]

Lol the price is only crashing on gox because they've fcuked up the exchange, all the other exchanges have bitcoin at $600+, it's still a $10b market.

[siztenboots]

why would you buy ( and therefore try and sell ) at $600 , when there are people desperate to get out at $200 , *real* people who would gladly hand over their entire BC wallet for *real* hard cold cash?

[dave_dub86]

Because gox aren't allowing withdrawals and are facing bankruptcy, so their users are trying to get into fiat as they'll have more of a chance getting dollars back than magical internet coins.

[siztenboots]

quick look , I see its down to $133 and the amount of volume traded at that is tiny, you would think it would be a firesale