|
Title: what makes the value of bitcoins go up and down Post by: bitcoinXL on August 05, 2011, 02:53:43 PM ???
Title: Re: what makes the value of bitcoins go up and down Post by: the founder (Bitcoin) on August 05, 2011, 02:55:49 PM Title: Re: what makes the value of bitcoins go up and down Post by: goodlord666 on August 05, 2011, 03:00:20 PM Volatility is really somehow connected with Satoshis bathroom light switch
Title: Re: what makes the value of bitcoins go up and down Post by: The Vark on August 05, 2011, 03:11:21 PM I'll guess this has been asked and answered more than a few times, but I'll give it a quick go:
Bitcoins go up and down in price in response to changes in Supply and Demand. That is it. Since production of Bitcoins happens at a fixed rate (over the long term), the Supply side of that equation is always worked into the price. So essentially Bitcoins respond to changes in Demand. There is no "man behind the curtain", just simple economics 101. Think of anything that could increase or decrease demand for Bitcoins and you will have one of the many drivers of bitcoin pricing. Title: Re: what makes the value of bitcoins go up and down Post by: nmat on August 05, 2011, 04:17:47 PM Simply put: there are people selling bitcoins and there are people buying bitcoins. People buying want low prices. People selling want high prices. The current price is the point where these two meet.
Just look at the markets (http://bitcoincharts.com/markets/mtgoxUSD_depth.html) Title: Re: what makes the value of bitcoins go up and down Post by: indio007 on August 05, 2011, 04:31:34 PM Bitcoin value follows this formula
Silkroad * crack / days till weekend = BTC price Title: Re: what makes the value of bitcoins go up and down Post by: whatsitworth on August 05, 2011, 04:40:32 PM Thanks for the clarification
|