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BItcoin jumped to $500?

Discussion in 'Digital Currencies' started by platinumdude, Dec 27, 2014.



  1. platinumdude

    platinumdude Gold Chaser Platinum Bling

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  2. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I usually look at the bitstamp quote and it currently shows that $ price at $316.61

    https://www.bitstamp.net/

    You had me there for a moment and I thought that I missed some news that made it go up like that. The only thing bitcoin-related that happened yesterday was a college football game was played in the bitcoin St Petersburg bowl yesterday. This was significant in that this is the first time that I have seen any bitcoin-related commercials on TV.
     
  3. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Sorry, that was me. They pumped it up for a second so I could bail.
     
  4. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    AH!!! Ok. That explains the jump. So now the Bitcoin PTB can let it go down to $275 so I can buy more Bitcoin before they pump it back up. Once they do that, then I can reward them with a few '70's silver art bars. :)
     
    Last edited: Dec 28, 2014
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  5. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I'm still waiting for Bitcoin to retest the $275 low. It has been trading between $310 - $323 for the last few weeks.
     
    Last edited: Dec 31, 2014
  6. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    It is doing the seasonal colors, first red, then green, then red, then green.
     
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  7. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I will make a WAG I by saying that Bitcoin will retest $275 within 3 weeks. The lower trading ranges seem to indicate that this might happen. We will see.
     
  8. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Today seems to be the day that Bitcoin is on its way to retesting last year's low of $275. It is now at $290.15 (Bitstamp quote) as I type this. I am going to "nibble" on it soon. Just a little lower...........................
     
    Last edited: Jan 3, 2015
  9. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    The lowest price (so far) is $287.45. I ended up "nibbling" on it at the $291.80 price by buying 0.1 BTC for a total of $29.47 (including fees). It is a small purchase that I made on Coinbase but I pulled the trigger just in case it rebounds from the $290 level. If it goes to $275, then another "nibble" is certainly possible. We will see.
     
    Last edited: Jan 3, 2015
  10. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Today's Low
    $275.95
     
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  11. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Now it remains to be seen if $275.95 will hold or not. See far, $275.00 low from October 5, 2014 has held and still seems to be holding but it is too soon to tell. I see a price of $283.54 based on bitstamp.net price quote.
     
    Last edited: Jan 3, 2015
  12. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Yep according to Coindesk.com. We will see if that $275 level will hold.
     
  13. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    It appears to be going back down to retest $275 again. It is now at $278.00 (bitstamp quote). The Coindesk.com quote of $275.95 is still holding. I made a 2nd bitcoin purchase on Coinbase when the price was $278.29 but this time it was 0.21 BTC that I bought for a total of $59.02 (including fees). I feel confident that Bitcoin will hold $275 support and will not make any more purchases at this point. I achieved my goal of purchasing when it went under $300 and during the retest of $275. Back to the sidelines I go.
     
  14. Hope+Change

    Hope+Change Gold Member Gold Chaser

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    If you get your coins from www.localbitcoins.com, then you don't have to pay capital gains.

    Coinbase is a large(ish) corporation who will report you to the IRS in order to protect its own interests (survival).
     
  15. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Today's Low
    $272.37

    We broke through the $275.

    Edit: Today's Low
    $269.06

    Edit: Today's Low
    $260.87
     
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  16. AgAuGal

    AgAuGal Founding Member Founding Member Site Mgr Site Supporter

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    I still dont get bitcoin. How you buy it, how its created, who creates it in the first place, how to use it. Is there a bitcoin for dummies book yet? I sounds like you give someone your dollars and they give you virtual foins to spend. Isnt that just a new flavor of the failed system we already have?
     
  17. GOLD DUCK

    GOLD DUCK Mother Lode Found Mother Lode

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    QWAK,AgAuGal,YEP:yes: except a few years back any one with a computer could conger them in to existence with an old computer or two in there basement at the cost of a fraction of a penny each for electricity to operate the computers.:yes::banghead::thumb.aspx:

    the DUCK :15_1_70v:
     
  18. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    That sucker is in a little bit of free fall.


    $257.02


    and no, I don't own any.
     
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  19. smartypants

    smartypants Seeker

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    https://bitcoin.org/bitcoin.pdf

    This paper is the start of it all, and later with the release of source code as well.
     
  20. smartypants

    smartypants Seeker

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    computer skills were more important. You had to get the source code and compile it your self.
     
  21. GOLD DUCK

    GOLD DUCK Mother Lode Found Mother Lode

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    QWAK,Yea just like in 1849 any one with an old frying pan and not BLIND could pan for GOLD in California!:idea::23_30_104::lol04:

    Lots of old bitcoin miners still trying to sell off there bitcoins a little at a time!:yes:

    the DUCK:15_1_70v:
     
  22. smartypants

    smartypants Seeker

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    That's a good comparison. I like to compare it to the first email being sent in 1971.
     
  23. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I was wrong, Bitcoin failed the retest of $275 and went down to a low (so far) of $255.00 according to Bitstamp.net price quote. I do not know what the next support for bitcoin is but I suspect that it is a much lower number than where it is currently at which is $271.01.
     
  24. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    It's acting like silver at this point.
     
  25. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Yep. Except that , at this point, Bitcoin is setting a "lower low" every few days and silver is setting a "lower low" every year.
     
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  26. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Bitcoin recovered some to the $275 level. Currently at $275.85 (Bitstamp quote) as a type this. It may not mean anything or it might mean a lot depending on your point of view. In other words, it could be a dead cat bounce that might lead to a "'lower low" or it could be the beginning of a rally from the new low of $255. I do not know. We will have to see in the next few days and weeks from now.
     
  27. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Bitcoin's rally continues on. It is now at $296.83 (Coinbase quote) as I type this. So far, it has gone up $41.83 from the $255.00 intra-day low.
     
  28. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Yeah, it appears to have bottomed out. At least for now. It's too unstable for me. I rather own PMs, stocks, and cash. I know stocks are stupid, but I have to be stupid in something.
     
  29. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I do not blame you for feeling that way you do on bitcoin. I'll be honest with you in that, hypothetically speaking, if someone gave me $5000 cash with one condition that I had to either put 1.) put it ALL in bitcoin or 2.) put it ALL in 1-oz '70's silver art bars, then I would put the hypothetical $5000 Cash in '70's silver art bars. So '70's silver art bars would win hands down over Bitcoin.
     
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  30. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Now its back to $265, we will see if it can rebound again or go down further.
     
  31. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I hope that Bitcoin can stay around the $265 level and not break $255 on the downside. I want to believe that BTC will stay above $255 but I have been wrong on $275 so...................
     
  32. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Oh oh.............Bitcoin is knocking on $255's "door". Currently at $256.01 (Bitstamp quote).

    EDIT: New low just established at $254.66 (Coindesk quote)
     
    Last edited: Jan 12, 2015
  33. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Another new low at $251.28 just a few seconds ago according to Coindesk.com.
     
  34. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    ....................Now at $250.45 (Coindesk.com quote). WHOA!!!!! Sinking like a rock.
     
  35. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Yeah, I don't have a clue what drive it one way or another. I have somewhat of an idea for commodities and stocks.


    Edit, Does energy prices really make it cheaper to mine, and therefore have a slight negative affect on price?
     
  36. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Actually I read that a cloud mining company had to suspend its operations because of a declining low price. I am guessing that energy prices (electricity) are about the same but the profit margin is eroding because of a falling bitcoin price.
     
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  37. Gun Ban Extremist

    Gun Ban Extremist Seeker Seeker

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    It's just one final game of chicken to shake out the weak longs. Once this latest reaction runs out of steam, look out above! :burnout:
     
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  38. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    $250 got took out on the downside. It is now at a low of $246.10 (Coindesk quote).
     
  39. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Another low was reached on bitcoin. The low now for 2015 is at $244.99 (Coindesk quote).
     
    Last edited: Jan 12, 2015
  40. platinumdude

    platinumdude Gold Chaser Platinum Bling

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