Bitcoins in 2014?

[timter51]

bitcoincalculator.co.uk
bitcoinprices.co.uk
bitcoinbetting.co.uk
bitcoincasinos.co.uk
bitcoingambling.co.uk
bitcoingames.co.uk

Regards the domains, certainly betting, casinos and gambling are all great assets to hold on to, obvious big markets should btc grow. BitcoinWallet.com sold this year for $250,000, I think that's a sign of potential .com prices should things go crazy again, it'll be interesting to see if .uk domains get any love.

 

[bonusmedia]

This bear market has been foreseen by analysts for months on end, don't let it trick you in to making the same mistake again. Bitcoin fundamentals are sound, this is an almighty correction from the late 2013 bubble. You need to choose an entry point somewhere, because there's far more chance this flies back over £x,xxx and beyond, then of it dying a death.

Thanks, but I don't know enough to know if that's true. There are a lot of very convincing arguments on both sides. I might do some more research soon.

 

[Murray]

Thanks, but I don't know enough to know if that's true. There are a lot of very convincing arguments on both sides. I might do some more research soon.

I wouldn't put any money into bitcoin that you aren't willing to lose

I think it's a worthwhile gamble to get a couple atm though, for £500 it's not a massive deal if they go to nothing but I think there's a chance they could be worth thousands at some point.

 

[Jamie101]

Surprised nobody mentioned today's news regarding PayPal and bitcoin.

http://thenextweb.com/insider/2014/...s-bitpay-coinbase-gocoin-merchants-us-canada/

Sent from my GT-I9300 using Tapatalk 2

 

[Murray]

Now seems like an excellent time to buy a bitcoin if anyone's been considering it

I just got another .5

 

[bonusmedia]

Now seems like an excellent time to buy a bitcoin if anyone's been considering it

I just got another .5

It is if you have a firm belief they will rise again
In share trading this is called 'catching a falling knife'.

No expert in charting but it looks to me that it had a long term support level of $400 and has been struggling to find a new level.

The last few hours look like panic selling.

It could well bounce back up, but for me it would just be gambling.
A bit like trading binary options on forex by following tipsters

 

[Murray]

It could well bounce back up, but for me it would just be gambling.)

I have no idea what where or why, just treating it as a pure gamble

I wouldn't put money into it I wasn't prepared to lose.

But I think id rather have a few and lose than miss out on the ride if they shoot up

 

[MikeJDS]

I'm holding some from last week.
Not a good move as dropped quite a bit since then.

Looks like it may drop quite a bit further.
Would be looking to possibly buy some more, but on the way up.
Not turned yet??? and moving fast!!

 

[bonusmedia]

Bizarrely it seems that greater actual usage of bitcoin (i.e. spending it on goods and services rather than holding speculatively) may depress the price.

The vast majority of companies who accept Bitcoin payments are cashing out into hard currency immediately - it would be far too risky to do otherwise with this level of volatility.

 

[retired_member36]

Its the cheapest ive ever seen them! in fact i remember paying more for half a bit coin earlier this year.

 

[MikeJDS]

Now seems like an excellent time to buy a bitcoin if anyone's been considering it

I just got another .5

That could have been a very good shout.
What price did you get Murray?

 

[Murray]

That could have been a very good shout.
What price did you get Murray?

Today or when I first got in?

I paid £365 ish for 1 when i first got in

Paid £100 for a half today

 

[Retired_Member38]

Bizarrely it seems that greater actual usage of bitcoin (i.e. spending it on goods and services rather than holding speculatively) may depress the price.

The vast majority of companies who accept Bitcoin payments are cashing out into hard currency immediately - it would be far too risky to do otherwise with this level of volatility.

Various people are coming out with this line of thought.... realistically it makes no sense.

If you want a Dell computer and you're holding 1000's of Bitcoins there are plenty of easy, quick and cheap ways to turn your coins into cash which you can spend on Dell.com

Just because Dell are letting you pay with Bitcoin, its not going to increase the spending.

Whether you give Dell your bit coins who then dump them on the market via Bitpay, or whether you sell your coins on localbitcoins then use the money at Dell yourself.... there was still the exact same sell side of it.

 

[websaway]

Today or when I first got in?

I paid £365 ish for 1 when i first got in

Paid £100 for a half today

It's not often you hear someone rejoicing at their loss.

Am I missing something or are you buying them to increase the price so as to let the early entrants get out at a better price ?

I can only relate to shares, where you buy at a reducing price if you think the fundamentals are undervalued, you would not buy when you cannot see a bottom.

 

[Murray]

It's not often you hear someone rejoicing at their loss.

I just see them as being on sale atm

I fully expect them to jump up to beyond $1000 within the next 12 months

I don't have enough faith to put any meaningful amount of money in still. but it's a roll of the dice and a bit of fun.

 

[bonusmedia]

Various people are coming out with this line of thought.... realistically it makes no sense.

If you want a Dell computer and you're holding 1000's of Bitcoins there are plenty of easy, quick and cheap ways to turn your coins into cash which you can spend on Dell.com

Just because Dell are letting you pay with Bitcoin, its not going to increase the spending.

Whether you give Dell your bit coins who then dump them on the market via Bitpay, or whether you sell your coins on localbitcoins then use the money at Dell yourself.... there was still the exact same sell side of it.

??? You're arguing against the success of bitcoin...

Rather than an increasingly useful currency, you are proposing bitcoins are simply a store of wealth, valuable because everyone has agreed they are but not actually spent?

Up to now the huge rises and the volatility have been entirely down to speculation. That can't last by itself - the speculation that they will one day be worth a lot more is based on them becoming a widely adopted means of exchange.

Their intrinsic value in the long run is wholly dependent on their being used.

However in the short term, widespread adoption might well mean speculators getting out and a level of stability being achieved.

Good luck to everyone who's in, if nothing else it must be an exciting ride and that's worth a few quid in itself

 

[Retired_Member38]

I'm not proposing they're only used as a store of wealth.

I'm saying you're wrong if you think merchant adoption is driving price down.

 

[bonusmedia]

I'm not proposing they're only used as a store of wealth.

I'm saying you're wrong if you think merchant adoption is driving price down.

More conversion of bitcoin to cash by merchants means more availability of bitcoin on the exchanges - less scarcity and lower prices, unless demand increases faster than the availability. There's no getting away from that.

Anyone who's genuinely holding for the long term should be happy to see greater uptake.

Speculators with any sense are banking on less speculative activity and less volatility in future.

Otherwise they are simply relying on the 'greater fool' principle.

 

[Retired_Member38]

More conversion of bitcoin to cash by merchants means more availability of bitcoin on the exchanges - less scarcity and lower prices, unless demand increases faster than the availability. There's no getting away from that.

Thats just not true though.

You want a laptop. It costs the equivalent of 1 Bitcoin. You have two options.... you either give Dell your 1 BTC and they put it on the open market. Or you sell your 1 BTC and you use the cash to buy a laptop.

There is no more Bitcoins being sold.... they only thing which changes it the route via which your BTC changes hands.

 

[bonusmedia]

Thats just not true though.

You want a laptop. It costs the equivalent of 1 Bitcoin. You have two options.... you either give Dell your 1 BTC and they put it on the open market. Or you sell your 1 BTC and you use the cash to buy a laptop.

There is no more Bitcoins being sold.... they only thing which changes it the route via which your BTC changes hands.

Correct, but you're missing the point. It makes no difference whether they are spent at merchants and then turned into cash or turned into cash and then spent. Either way, they are being turned into cash.

The more that are turned into cash, the greater the supply and the lower the price, assuming demand does not rise faster.

Actual use of bitcoins means them being turned into cash, for the foreseeable future at least.