Bitcoins

puk999

JohnJLewis wrote: »

why so low?

Maybe the real question is why previously so high?

JohnJLewis

but why so much selling right now? anyway a big dip like that is so tempting.

JohnJLewis

I just bought 0.5 bitcoin at £238BTC. My £120 including fee's is very exciting. If it goes lower I would love to buy another half a BTC.

bowlhead99

JohnJLewis wrote: »

but why so much selling right now? anyway a big dip like that is so tempting.

If you think of the psyche of people who love both technology and the chance to get-rich-quick, which would include BTC investors: they might also be interested in the imminent IPO of Alibaba, the monster dotcom with likely a $200bn+ market cap.

I would speculate that lower values and higher volumes traded particularly on Chinese exchanges, is people exiting bitcoin (a speculative asset) to enter Alibaba (a speculative asset but one that makes serious annual profits). This is just conjecture of course. But when the price of a commodity moves without an obvious change in regulation or whatever, you have to consider what is happening to the supply/demand/price of competing assets available in the market or to the wider investment community.

To your earlier question about why so low, I agree with puk999's comment: why was it inherently worth 4x that before? It has been hugely volatile for the last couple of years. So maybe 'buy on a dip' is a good plan before it bounces back, but it may be part of a bigger dip and it may end up being regulated out of usefulness before it gets the chance to go to £1000.

Certainly if you had bought at £1000/$1600 you would be pretty annoyed to see it close to £250/£400 by now, so it is not a one way street. Same with buying a bar of gold at $1600/oz in late 2012 or early 2103 because it looked a nice dip from $1800. Now it's at $1220 having paid zero dividends and having cost money / effort to store & insure along the way. There is no certainty buying currencies and commodities, whether physical or virtual or paper contracts.

N1AK

grifferz wrote: »

And if I take a $50k order via PayPal and then you tell me that PayPal isn't seeing real use then I'll dispute that just the same.

If Paypal started allowing you to credit your account by selling them plastic drinks bottles for $0.05 each, and a merchant accepts payments from Paypal in £s (which paypal converts) then it doesn't mean that the merchant accepts payments in either plastic bottles or dollars.

That's not to say that they aren't being used. It's even fair to say that more companies are building the ability to exchange bitcoins for other currencies into their checkout process.

pingchris

just noticed this topic , i was also thinking of getting into bitcoin , but its too pricey to mine or to buy really ,yes you can buy bits of bitcoin so thats an an option i suppose. instead i opted for NXT coin instead , they look to have something going , and you dont need mega bucks to get involved, as it is still at the early stages , its kinda green too , very little processing power needed , might be worth a look at NXT for the future.
time will tell .

JohnJLewis

So now that paypal is using bitcoins, can I sell things on ebay and say I only accept bitcoins not fiat?

Ebay and paypal are the same company arnt they?

antrobus

JohnJLewis wrote: »

So now that paypal is using bitcoins, can I sell things on ebay and say I only accept bitcoins not fiat?

Ebay and paypal are the same company arnt they?

So far, there is no indication that bitcoins will be accepted directly by Paypal and eBay.

http://www.bbc.co.uk/news/technology-29124997

dryhat

antrobus wrote: »

So far, there is no indication that bitcoins will be accepted directly by Paypal and eBay.

http://www.bbc.co.uk/news/technology-29124997

But it's close .........

http://blog.bitpay.com/2014/09/23/bitpay-and-paypal-an-unbeatable-payment-partnership.html

JohnJLewis

I tried just putting in my ad I will accept bitcoins and mu bitcoin address. So far the ad is still up. Be great to bypass fiat currency altogether.

But its not possible to change from £ when setting the price on ebay.