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Title: Stop with the Doom and Gloom -- Bitcoin will Skyrocket Over Next 12 Months Post by: Envrin on September 20, 2014, 03:46:51 PM Right now, there's two main things keeping the price fairly low: a) $1.5 million in new coins being generated every day. b) High merchant adoption, but none of the merchants hold bitcoin, and instantly transfer into fiat instead. However, what's the newest service in the bitcoin industry that's starting to come out en-masse? That's right, payroll services! Even BitPay is getting in on the game, and so are companies in countries around the world. What we're now beginning to see if employees requesting their bosses to signup for these payroll services, so they can be paid in bitcoin instead of fiat. Assuming this gains decent adoption, that's a whole lot more BTC being bought every month, and the price should sky rocket. Title: Re: Stop with the Doom and Gloom -- Bitcoin will Skyrocket Over Next 12 Months Post by: bornil267645 on September 20, 2014, 03:56:33 PM I would be surprised if it doesn't...
Title: Re: Stop with the Doom and Gloom -- Bitcoin will Skyrocket Over Next 12 Months Post by: jwcastle on September 20, 2014, 04:06:53 PM Right now, there's two main things keeping the price fairly low: a) $1.5 million in new coins being generated every day. b) High merchant adoption, but none of the merchants hold bitcoin, and instantly transfer into fiat instead. However, what's the newest service in the bitcoin industry that's starting to come out en-masse? That's right, payroll services! Even BitPay is getting in on the game, and so are companies in countries around the world. What we're now beginning to see if employees requesting their bosses to signup for these payroll services, so they can be paid in bitcoin instead of fiat. Assuming this gains decent adoption, that's a whole lot more BTC being bought every month, and the price should sky rocket. $1.5 million is nothing when you consider the entire world is part of the crypto currency ecosystem. I agree with your 2nd point. Merchants who do not hold their BTC will keep the exchange rate low. I believe that merchants are not going to take a gamble. They price their products at the current exchange rate. And as soon as they get paid, they are cashing out so they are still making the same amount of money as fiat. They make their profit from the products they sell, not from risky currency exchange investments. Title: Re: Stop with the Doom and Gloom -- Bitcoin will Skyrocket Over Next 12 Months Post by: RustyNomad on September 20, 2014, 04:29:01 PM I agree in that the price will go back up. This drop in the bitcoin price will also not be the last one we will see. It is bound to happen again and again and again....
Bitcoin is here to stay and with the limited supply it has but one way to go. How far up I do not know and won't wager a bet on it but up it will go. Forgot to add: In regards to merchants who sell off their coins the moment they get it. Give it time, one the price is back on a 'steady' rise some of these merchants will start hoarding in order to make a profit on the coins. When that happens the supply will become even smaller and that is bound to drive the price higher. The risk here of course is that they will start dumping once the price went far enough for them so it may be a rocky ride. Title: Re: Stop with the Doom and Gloom -- Bitcoin will Skyrocket Over Next 12 Months Post by: toleng on September 20, 2014, 07:36:04 PM However, what's the newest service in the bitcoin industry that's starting to come out en-masse? That's right, payroll services! I think payroll services would potentially cause the price of (and demand for) bitcoin to increase over time. This would essentially mean that companies are using bitcoin other then a way to earn additional revenue and are actually spending it in the bitcoin economy. I do not however think that there will be a lot of people paid in bitcoin as the price is not stable enough to really be able to earn a living in terms of bitcoin |