Bitcoin Forum

Good Morning Everyone,

What are your thoughts on MTGOX's volume being UNDER 10,000 right now?

dat shit cray

The low liquidity on Mt.Gox is causing trades that at one time would cause $2-3 swings to cause $10 slides.  Businesses that accept bitcoin have USD costs so coins have to continue to be sold.  Without an increasing amount of interest to balance the downward pressure I'm afraid we will continue to see more of the same.

For example, KNC recently sold 890+ mining rigs and accepted bitcoin as payment.  That bitcoin had to be converted somewhere in order to manufacture the devices.  It is my assumption that the sale of that bitcoin either added to or was the catalyst of the recent slide.

Without some fairly significant news to spur interest, I think were in for a rocky road in the short term

i said din another post price was a problem, no one listened of course, btc is sliding and nothings being done from the top

Care to speculate on what might fit the bill?

bitcoin has no leadership, i love decentralisation, but this whole fledgling cryptoeconomy  needs real leadership, its not coming from the early adopters it seems to me, theyve made their money, the buck has been passed down the line to make this whole thing work and its struggling because no one is able to lead, mt gox's website tells a noob visitor bugger all, if "news" moves markets then exchanges need to provide it, at least 

And why should they ? its not for the core developers to set the price or support it.

Let the market fluctuate, we have far to many people in bitcoin purely for a short ROI which is the real cause of the downward pressure. If you wish to see bitcoin hold value then you need to offer services or products to encourage the use of bitcoin as a currency and not a get rich quick vehicle.

Exactly right. This is perfectly normal and healthy.

Low price is good.

We are all early adopters now.

There is nothing to do about the price. This is a true free market and the price of a bitcoin is determined by supply and demand. Like nature, free markets don't care how much money your making or loosing.  If the price drops to $20 / BTC it is because that is the "right" price.

LOL.  "the top".

Bitcoin has no "the top".

1) Large investors are skid-dish due to the regulatory fog we are currently in.  They need to KNOW that the rug won't be pulled out from under bitcoin.  Basically, bitcoin needs to gain legitimacy and the current 'guidance' hasn't really helped.

2) A fund that lets people make payroll deductions to 'Invest' in bitcoin would do a lot to add stability / upward pressure to the market.  The fund would actually have to purchase the bitcoins and hold them in proxy for this to work.  I know that I would personally divert a portion of my payroll deductions towards this fund even if I wouldn't have access to the coins for a period of time.