Silk Road forums
Discussion => Security => Topic started by: Audioslave on July 18, 2012, 01:05 am
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http://bitcoincharts.com/charts/mtgoxUSD#rg360ztgSzm1g10zm2g25zcv
this shows that in a couple of months, BTC will inflate by about double...i was planning on buying some a few days ago when they were steady at about 7.6 and they're now 8.85! Should i buy some now and wait to purchase until it inflates more or will it drop?
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and everything i wanted to order, their BTC price hasn't changed!!!
Edit: k so the MDA i wanted just went down a couple BTC, but also a lot of other things are just no longer listed
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At rates like this I only buy the amount of BitCoin I need. When it is lower I buy excess. It's like stocks but more volatile thus more fun haha.
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better than the stock market!
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Just gonna point this out as it seems to be a common error:
Inflation is where a currency loses value (compared to goods and services) over time.
What the BTC is experiencing is deflation.
The BTC is actually designed to deflate over the long term due to the limited number that will ever be produced, filling a increasing demand. That's why it can be split into such tiny fragments. The theory is that eventually we will be using 0.1, and 0.01 and 0.001 BTC.
I don't think the current rise is part of this trend tho.
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don't buy them .....
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Just gonna point this out as it seems to be a common error:
Inflation is where a currency loses value (compared to goods and services) over time.
What the BTC is experiencing is deflation.
I had to read that part a few times too, but OP says it correctly. Because BTC has been experiencing so much deflation (rise in price), he fears that there will be big inflation (dropping price) coming soon. Which is indeed to be expected.
So he is actually scared for the coming inflation, rather than the current deflation.
The BTC is actually designed to deflate over the long term due to the limited number that will ever be produced, filling a increasing demand. That's why it can be split into such tiny fragments. The theory is that eventually we will be using 0.1, and 0.01 and 0.001 BTC.
I don't think the current rise is part of this trend tho.
Yes that is indeed true. However I don't think we will ever really do transactions in microBTC. If digital currency ever gets widely accepted, alternative digital currencies will be created. BitCoin will probably still be the most prestigious original crypto-currency, and therefore be valuable. But I don't think we're ever gonna see $1000 per BTC.
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Me neither - because before it gets that high, I think we will be using micro-BTC's. :B
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i would only buy BTC right now if I was planning to place an order right away. in fact, thats usually how i do it, but since i typically buy a couple extra coin than what I actually need i have a small surplus in my wallet. if it keeps rising I may be able to get a quarter ounce of dank weed for coin that I payed 50 bucks for! psyched about this :)
but i hear you guys, its nerve wracking, and I too wish it would just stay constant. at the rate its been climbing its almost guaranteed to drop just as hard in a few weeks time.
just buy em if you need em, don't try to "play the market." there's much better ways to gamble/invest your money
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Better ways to invest yes but the gamble aspect depends on the enjoyment you get out of it ^_^
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This is pure speculation, if you'll pardon the pun, but since Kim Dotcom was told about Bitcoin in response to his questions about payment methods that can't be seized, the increase in value could be the result of his (and similar groups) moving into the market. Plus there has been increased press coverage of the currency so it could just be traders diving into it again like they did last year when the price got up to $30 or so.
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Well then I hope those investors will enjoy the extreme drop that happened last time ^_^ I know I will because they will all get scared and when it drops so low and I'll be getting a surplus. 8)
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well i better spend the shit out of my BTCs
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I'm glad I have no idea who falko is, get updates for kiddy porn, nor want to imagine 90% pedos. **shudders**
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i like the current trend. btc getting more valuable by the day.
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i like the current trend. btc getting more valuable by the day.
Dropped like a rock today! from 9.10 to 7.60 :o
I am enjoying the roller coaster of bitcoin. Sell product when it is low and hang on to it, sell bitcoin when it is hi and make bonus cash. lol
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Its fun been studying it since 2.9 BTC GBP, last night it dropped but it has increased again but not no where what the highest price was recently which i saw it sell at one point for 6.4 BTC GBP =) Lets see what happens!