Jen
Elite Member
- Dec 8, 1999
- 24,206
- 14
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So, who wants to take bets as to when bitcoins will go back up over $10 :awe:
hoping it will soon as my few coins want to sell
Jen
So, who wants to take bets as to when bitcoins will go back up over $10 :awe:
So, who wants to take bets as to when bitcoins will go back up over $10 :awe:
If that means I hold on to my bitcoins for the rest of my life so be it. But I wont help keep prices low by selling mine at 11 or 12.
I agree with ya there, part of the problem is there are too many desperate people out there. If all the sellers banded together and decided not to sell below x price, we wouldn't have these major drops. You can send bitcoins to what, an eight of a decimal? So even if you do buy a bitcoin for $20, you can part that puppy way out when sending it to another bitcoin address. And the things you are buying with bitcoins have fluctuating prices based on the current bitcoin rates.
Hahaha, yeah that's normally known as price fixing and it tends to be illegal. Not that bitcoin has any real rules but it's funny how badly people just want to manipulate this "currency" that was touted as letting them escape the big bad corrupt financial institutions.
bittcoin mining has only ever been profitable for people living in their parents' basements who have free electricity, and can stack 6950s till the air burns.
So, how about them bitcoin prices :awe:
how low does it need to go before everyone stops
Jen
Best bet is to just keep mining without selling. Sure it may cost you more in electricity then what coins are currently selling for, however you aren't mining them to sell now, you're mining to sell in the future when the profit per coin way outweighs the cost of producing it. So basically, just keep mining and hoarding coins. Then next year when the amount of coins per block drops to 25, the price should go back up. By that time, you'll have been mining the last 5+ months straight while the difficulty is "low" and have a nice stash of coins to unload.
Best bet is to just keep mining without selling. Sure it may cost you more in electricity then what coins are currently selling for, however you aren't mining them to sell now, you're mining to sell in the future when the profit per coin way outweighs the cost of producing it. So basically, just keep mining and hoarding coins. Then next year when the amount of coins per block drops to 25, the price should go back up. By that time, you'll have been mining the last 5+ months straight while the difficulty is "low" and have a nice stash of coins to unload.
If cost to produce a coin is more than cost to buy a coin, it makes more sense to simply buy coins if you want to bet on them going up in value.
If coins drop below $4, then yes that would be the case. If that does happen, I plan on buying up a ton.
If coins drop below $4, then yes that would be the case. If that does happen, I plan on buying up a ton.
It's almost happened.
You can use it's volatility for your advantage, so it's not necessary a bad thing.
wow, how much longer till thing just dies out completely?