Bitcoin Forum

I came to this space while bitcoin was literally at its highest, but sort of sucked into all the nice things into crypto world after that..

Now its been 7 months and now am witnessing the boring flat days of bitcoin prices with no steep increase..

But when i look at the historical charts from 2010, i wonder how all those early adopters went through all these horizontal flat days which lasted sometimes like for  8 months or an year..

anyway, patience is the key to success.

How do you feel with the price stagnating for a long time?

each person is different

1. some begin concentrating on our shelved bitcoin businesses/idea's as the day trading slows down

2. others ride a spreads of a few altcoins for their standard 1%-5% daily profits (only the small holders)

3. some go back to their weed smoking forums

4. and the rest spend more time waffling on this forum

im 1+4 and a little bit of 2.. just for fun (playing with pennies to keep the trading skills alive until im ready to put the hoard back into bitcoin exchanges)

Ranging markets means prices are getting stable and less volatile. Well at the moment, it is not good for us if bitcoin doesn't appreciate in value, but if you think about it this way. If bitcoin prices are more stable and less volatile, you would see more and more businesses starting to accept bitcoin, inducing a higher demand in days to come. Trading volume would thicken. 2015 would be an exciting year, the year where you will see more and more major brands starting to take on bitcoin. Bitpay would definitely benefit alot from this, they have an excellent business model.

+1

im kinda new to bitcoin but I already love it. I am not mining ATM but would love to get a nice miner soon.

I had people trying to pay me with bitcoin back when it was worth about $16 per coin and they would have gave me about 5 BTC for a membership on my site.....wish i took it  :-\

oh well, gotta get in some time.

business work on annual update ... you MUST wait until to 2015 for bitcoin integration.
september/october are good months for financial crash, too  ;D

http://worldmeets.us/images/freemarketblackhole_letemps.gif

Skyrocketing prices are definitely more exciting, but if you have big money invested, you definitely want to see slow, stable, sustainable growth instead. Maybe not the slow part, but the key is sustainable growth. Rapid price hikes are always followed by sharp corrections.

yeap stable growth always attracts long-term investors

These days are not boring or flat at all... if anyone makes a bet the price will be what it is in 3 weeks time they'd be crazy. BTC price behaviour acts irrationally all the time imo lol..

As a new person to the bitcoin universe I rather like the slow growth. They will be much harder to come by when price ramps way up.

time is just an illusion.. whenever a microsoft installer tells you 20 minutes to go, its always 30minutes. whenever a fibre optic download says 30 minutes it's usually 3.

and when bitcoin trading is slow, its because there is only 10% price change, not 5000%, some people think a 10% change in a week ($590-$650) is slow, some people think it is fast.

i personally think its slow as i have lived through the litecoin jumps of 2c-$20, lived through the bitcoin jumps of $6-$20, $20-70, $70-$220, $220-$1200.
so these last few months of $430-$460, medium movement up to $650 and slow again back in the late 500's

unless i see more then a 40% jump, its a slowday

pretty bored, but also waiting impatiently for the price to rise once again.

It would be the first time for me to make a lot of profit on bitcoin.


oh really?

Tell me more about how facebook lost millions of users after having a growth spurt of a million new users a day in 2012.

It's natural for a new technology to grow exponentially.

I don't see the correlation between users (of a free service at that) and rapid price hikes. Were you trying to equate growth in user base to company value as refutation of the boom and bust cycle? If so, one has nothing to do with the other.

Pretty boring here. My stash is just sitting there and not moving.
I guess other matters will be attended to in the meantime.

Its good for all of us.   Bitch slaps us back into reality / submission.  Its the universe saying "Chill the fk out.  Stop being weird.  Relax."

And I willingly correct my expectations.

The result?  I start focusing on my business more and trying to make money the old fashioned way.  Growing the business.  Hard work.  Because I need some financial results now.

I may be rich in 5 years but in the meantime I have to live life.

-B-

My answer personally....  is  I feel really good with the price stagnating for a long time.

First of all....  less volatility means less discouragement for people to adopt.

Second of all.....  it means more opportunities and time to find capital for buying in more BTC  and thinking about possible Bitcoin-related business(es) to experiment,  or play with,    before it becomes more mainstream, and regulators invade to break up the party.

Of course it has to do with each other, and in more than one way

1) more users means it's a more legitimate currency. As all currency gains value the more people recognize it's value. Hence, more bitcoin users means a more valuable bitcoin. (The same holds true for fiat and even gold)

2) there's a limited supply of bitcoin. For every user who wants to store money in bitcoin, the
Price needs to be higher, otherwise there is not enough for everyone.

3) more users (companies) also means you can spend bitcoins more easily, thus making them more wanted as an actual currency.

Now, do you really think that many people who have tried bitcoin will quit bitcoin and return to fiat? I doubt it.
Therefore, every single new user of bitcoin will eventually drive the price up. Not much at first, but in the medium to long run (once they fully grasp it) they will.

It's logical to assume we are at a point where we never had so many bitcoin users, but the price is much lower than half a year ago. Therefore the price is undervalued (more people, but a lower total value), and the next "correction" will be a correction to match the value to the amount of people. In other words we will have an upwards correction. Otherwise known as a growth spurt (or bubble).

Of course a growth that rapid will always overshoot due to greed, but that's fine, as it will still be higher than it was before. And during those growth spurts bitcoin gets a lot more attention from the media and many new investors.

It's a pretty interesting cycle really:

1) bitcoin price surges for some reason
2) more people will buy bitcoin (and media attention)
3) bitcoin price rises even more
4) bitcoin price collapses because it overshoot
5) new people stop coming for a while, bitcoin enters a bear market
6) bitcoin is undervalued (low price compared to number of users)
7) bitcoin price will rise again due to this pressure from all the new members (repeat)

Also: metcalfes law

Fiat exchange value may be temporarily flat, but adoption rate and business investment are both exploding. When evaluating an investment opportunity, you want to look at the driving trends, not the trailing consequences.

Value follows adoption and business-building, not the other way around. If you're paying attention to reality, you're bullish as hell.

In this period I am spending more time on work to save more fiat to convert in bitcoins. :D

sounds like a plan dude.

From january 2014 to june 2014 the price has been between 400$ and 950$. However, the price has been between 0$ and 200$ until november 2013. The time that the market price was rising like crazy had been only a few months. I think we'll see more of this sudden rise in market price, but if we don't wait we wont see it  :).