Silk Road forums
Discussion => Security => Topic started by: lokiju on March 28, 2013, 09:45 pm
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I have a few coins that I bought at 80 and 82 (pretty high) and yesterday they were in the 90's. Just a little while ago, the BTC has been up and down, it's back in the 78 range (so far) it's jumping up and down.
I'm kind of all in, but some of you might want to pick up a few coins if you believe in them. It may go lower, but I'm seeing it go up and down I think because they are getting snapped up.
I'd be more interested in the technical effects, those who've invested would know about that. An exaample is that there seems to be a kind of 'floor' that the BTC is hitting and jumping right back up.
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It seems right now (3 pm Pacific) that it's now broken the 77 barrier. I'm not a speculator (except in this) but I've heard that only about 1/4 of the BTC issued out there is used, the other is held. so if these people sell off (because they've made so much and want to 'cash in') BTC could go down to where it was a couple of weeks ago. I have a little more money, but I'm not sure enough to buy in any more. Funny it seemed like a good deal and 80 and 82 (watching the graphs) now I'm worried about buying at 76.2.
We'll see!
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Man, they are selling hundreds at a time (I know that there's 10-11 million though) at Mtgx. There's a good graph at http://www.bitcoinity.org/markets/
and I've never seen it this busy (in my week of 'experience') And it's hovering (although jumping up and down) at around 75.
All that selling I would have thought it would be lower.
Might be a good time to buy (and maybe not, if I make money it will be about the only time I've made money in investments!)
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I fucking bought at $94.85 and now it's down to 76, in just 4 hours... Lucky me ::)
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They are all buying again now, (3.27 pm Pacific) and it's back up to 79. Maybe it's over. NOBODY is selling.
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It was down to 75, but has been as high as 99 today. And about 33% more trading than a usual day.
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I really would have liked to buy at about 60 last Saturday, but I hesitated. It's about 85 now 335 pm Pacific.
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The trading volume is much higher today. Although average is much higher than the last price payed which shows it is in downfall. It will probably stabilize around 80 by tomorrow morning if my understanding of this market is correct. Although no market is that predictable, not like I have an algorithm or anything. Which would make since because no currency can rise this fast. If you bought after the last crash and invested a lot in coins at around $4 then you would be more rich now than if you had invested in apple 15 years ago. Just think about that.
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Crazy swing in the BTC market today for sure. A 24 BTC swing can only mean one of two things. Either a lot of people got too scared of that $100 mark, or there has been a major buy of a massive amount of coins for cheap. Either way, I'm hanging on to my coins.
There is an easy way to tell that the price is not finished rising. The majority of people buying coins are using USD. If you look at the price of the dollar, it is crashing further and further every few days. And it's not going to be done until dollars are nothing more than toilet paper.
I suggest everyone hang on to their coins till at least the end of the weekend. You will be glad you did. Don't believe me? Well, we will see won't we? ;)
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Knomo, I think it's going to be a good long term investment, but that comes from a guy (me) who's almost never made any money in speculations. Maybe in 2 days, 2 months or 2 years you'll be very happy you paid $94?
Phenbizz, do you have any money if BTC? Any guess why the high volume today? I haven't heard anything about economic troubles.
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SeeYaAllNextYear (a good name if you are speculating on BTC and people are telling you it's a ponzi scheme!)
I think just about all the nations are devaluating their currency. The US is clearly doing it, and not even pretending (never accept a fact as true until a government officially denies it) and I would think that this would drive the other nations to do the same thing, in defense.
It's back up to 85 now. If we only knew last week what we knew now, we could have doubled our money.
I'm wondering if there are other 'crypto-currencies' that are doing as well.? I think I heard somebody say that SR is 10% of BTC. And BMR also uses BTC (have such good luck here, don't know why I'd go there) Atlantis uses LTC.
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Interesting article re: Cyprus and the world's first Bitcoin ATM:
**CLEARNET WARNING**
http://money.cnn.com/2013/03/28/investing/bitcoin-cyprus/index.html
**CLEARNET WARNING**
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Damned scary to see it drop, but this has similar signarture as last weekend selloff which dropped price from near $80 to $60.
Due to long weekend, may be difficult for people to move money into system, and with the $100 barrier, people grabbed profits.
With SR, Bitcoins won't crash to nothing, so expect the price to recover and break $100 next week.
Bitcoins are not going away, and they will become increasingly valuable with time. Buy and Hold or Buy and Buy SR
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both dwolla and mt gox suffered a Ddos attack,this affected the btc market and prices etc
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Never thought money could gives a boner .