Bitcoin Forum

Last time when i saw bitcoin 380 it was related to china rumour banning bitcoin or something.
any similar this time?

good question! any help?

I think due to more people cashing out. Now we have more ways to spend BTC

BTC is now  $375.53. Might be true that more are cashing out. Also guessing that more are switching to other coins that are quite more profitable than BTC.

People creating 600 trillion new topics each time it crashes.

It's simple  :)
Becuase there are more people sell bitcoin than people buy bitcoin

If you want the price raise up, just buy a lot of bitcoin


I think this temporany
The price soon will recovered to $400 again  ;D

I think the continue slide is mainly caused by the merchants (Direct tv, tiger direct, etc.). When the customer uses bitcoin to buy things from the merchant, they automatically exchange it for fiat thus creating over supply of bitcoin.  At this point, market can't absorb it all and this creates the power to buyer not seller. Buyer will determine the price in which seller force to follow. It is all about supply and demand as sandykho47 said.

If we spend the BTC and do not get paid apart from mining it, the price will drop.

The fact that most people can't afford Bitcoin, so demand stagnates and whales start to sell as they get more and more nervous.

+1 and there are many other people who don't know about the Bitcoin or cryptocurrencies, even in the civilized countries

People can buy 0.1 BTC instesd of 1 BTC.

The price is never high or low. It is always the space between what people will pay and what people will sell for.

You'll find the answer in this thread:

https://bitcointalk.org/index.php?topic=770591.0

it's a panic selling, and less buyers, nothing else

Diversification of servicies around Bitcoin.

Things had change a lot in the last 2 years.
Exchanges are not the only way to "use" bitcoins. Less sellers and less buyers of common people and miners dumping every day to maintain production.

2 years ago exchanges were the only place to use them and exchanges had the majority of the activity of the Bitcoin market, now they dont, they only represents the 10% of the total bitcoins available.

HAHAHAHAHA thanks for that reminder. I was going to create a thread... I'll be well more careful in the future.

i think it's *maybe related to BFL getting crushed by the FTC
Those BFL guys prob gave a lot of BTC hidden and are dumping it fast to run for it like Mark did when Gox was hunted.
Gox closed and massive dumping went on..

You think BFL is going to leave their wallets full of bitcoin sitting there for the FTC to seize ?
hell no.. i bet they are dumping like mad LOL

BFL / FTC story at Coindesk guys

and i suggested that because i just don't see a thing at all as to why.. unless there is more going on we don't know about ?
i see no other story at Coindesk that would explain it in my eyes..

I like this explanation, makes sense.

Miners selling their bitcoins to invest in Alibaba IPO. My point exactly in the article. http://www.bitcoinvalues.net/alibaba-ipo-responsible-bitcoin-crash.html

i heard about Alibaba's IPO like last year so why effects now then ?
i seen a news story about it all on TV basically.. a LONG time ago !
I don't buy that reasoning but i am very curious but who knows right ?

could just be some random dumping from a random guy for a random reason we will never know.
unless we get a smoking gun we can pin the severe drop in price on..

this is true some people even don't know what paypal is even if paypal has been online for years this can be the same case to bitcoin.

This article from Coin Desk provides some logical answers: http://www.coindesk.com/predicting-bitcoins-next-price-rise/

LMFAO you're an idiot alibaba had nothing to do with this crash! Bitcoin is loosing value because literally everybody is selling it... NO BUYERS = CRASH TO 0.00

I would buy it at 3 or 5 different levels over a long period time.

I believe it is due to people misspelling "losing". Every time somebody misspells "lose" or "losing", somebody else gives up hope for humanity and dumps their bitcoins.

Merchants, they are selling bitcoin immediately.

"Loosing" is spelled "Losing." Sorry pet peeve of mine DERP

Yeah many merchants are selling immediately for fiat which is bad :(

Maybe they urban it this time and Chinese have finally chance to sell their BTC stash. :)



BTC can work without any Goverment. So baning it solve nothing!

Larger adoption is good for the long run. People still think (and will most likely in the foreseeable future) in € and $ and hence merchants exchange their obtained BTC into fiat. In this case, more BTC transactions mean a stronger downwards trend due to all the immediate market orders on the exchanges.

People are waking up and realizing shit, if I have to pay stupid transaction fees like a credit card
why go through all the extra effort?
Might as well just buy a moneypak, it's accepted at more places.
There is no difference but you spend more to be able to spend bitcoin. (or any magic altcoin that is created out of nothing)

Its a new technology and there is always doubt on where it will be in the next 10 years. Why does the value of bitcoin matters? I thought the interesting part about bitcoin was the technology it offers and people wanting to use it can try it out whenever they want to, instead of holding large amounts of it. Also, I doubt it will become a mass adopted  curreny , as the fluctuations in prices will demotivate people from holding large amounts of it.

Yes. The argument bitcoin charges less than credit card on transaction fee is not entire accurate since no merchant want to hold coin over night.

Ask yourself the opposite question.  Why should bitcoin have any value in the first place?

Most people who aren't bitcoiners think its worthless

+1

Not only bitcoin, all the other currency are falling against USD, since FED started to tightening. Actually if measured in JPY, bitcoin is not losing value.

This is a good test about bitcoin's bubble level, a bubble will always burst when FED start to tightening, while things with real demand will not be affected too much

Because at the current rate about 3600 bitcoins are created everyday and the market quite simply doesn't show enough demand to keep up with so many new bitcoins being created. I think it will keep struggling until the Halving.

It might struggle till halving, but that won't guarantee that the price will increase. However there is a high chance it will. hard to predict.

Haha, sometimes I think that it's some curse of bitcointalk.

Bitcoin is is losing value because the value was inflated in the first place. Bitcoin pricing has been chaotic because unregulated, non-transparent exchanges control the price.

It's pretty transparent, check the blockchain.info.

Exchanges are not transparent, what does the blockchain have to do with the transparency exchanges?

Let's see if it can bounce back a the same 300usd resistance level. If yes, the double bottom should mean a signal to buy

I've studied Economics, supply chain, and money flow a lot.  I've also put these principles into practice most of my life.  If anyone who reads this cares about bitcoin prices going up at a faster and much more stable rate please let me explain how it needs to be done simply then with detail.

Simply put: product/manufacturer providers need to accept bitcoin

Why:  Merchants Love Bitcoin already, Newegg is even putting a lot of its total purchases to encourage the bitcoin progress (incredible), but what do these merchants have to do?  Sell the bitcoins.  This means the end of the bitcoin money flow, this is bad since it increases bitcoin supply and reduces overall demand.

How to resolve it?  Figure out why the merchants need to sell the bitcoins.  Currently they have to in order to stay in business because their suppliers, paychecks to employees, powerbills, exc all want USD, focusing on merchants is great but unless we can make A full loop with money flow, Please keep that in mind FULL LOOP.  Whenever the money has to be converted to USD the value is decreased, whenever a full loop can be made there is less selling of bitcoins and increase in bitcoin value.

So the first way to increase value: Full loop of purchases from employees getting paid bitcoin, purchasing from a merchant with bitcoin, the merchant getting supplies by paying with bitcoin (not USD), and the suppliers paying their expenses through BTC as much as possible.

Not an easy task, but with the number of merchants now accepting bitcoin, bitcoin has already come a long way.

There is at least one other aspect that increases the Bitcoin value: Investors

Do you want to know what is causin bitcoin loosing value? Try to ask this at some early adopter, which has many bitcoin and in this day they solding a big part of their bitcoin, causing decreasing of bitcoin value.

too much sell and cause panic on bitcoin holder.
and less new people interested on bitcoin nowdays.

Who cares? It's their money to do as they please.
Plus I think it's really ignorant to even think that early adopters are dumping now.
If they held this long, I'm sure they still are holding. If they held out past the 1k+ wall, why in the hell
would they consider selling now? They know something the rest of us don't? I doubt it..

Bitcoin has no value except for the value we put into it. It isn't backed by anything.
No gold, no fiat, nothing zilch. It wouldn't even be this high in value if people didn't believe in it.
Faith is the only value it has. Just like we have faith our nations currency is going to be worth something tomorrow.
Because there isn't anything backing that up either besides the word of a government.

I agree with BCwinning with the point about bagholders.

Anyone with a noteworthy bag isnt leaving at a low, they wait for better opportunity. Someone who got their 50+ bitcoins when they were worth less than 10USD is not terribly concerned with dumping it (my situation, thus speaking from experience). They will wait because they didnt risk a huge investment in the beginning! It is more likely that the only bag holders dumping would be BTC miners, as they are more likely people who use it as supplemental income.

Disagree.

Old timers who got at 10usd is most likely kicking themselves and sell most if not all to lock in the profit while they still can.

Who cares, let it drop! More for me to buy & pump Trollcoin with on Bleu, hahaha!
Honestly though, could it have something to do with all the big boys pushing payment systems, ApplePay etc... & investors realizing Bitcoin might not be the big boy in Digital transactions of the future. The general public are still (& will be for years to come) slaves of banks, & taking a chance on decentralized currencies with your paycheck is still more of a risk than solution to nasty overdraft fees & govt bullshit.

well they're stupid than. imnsho. I'm hodling still nothing invested nothing to lose.
The electric already been paid.

plus a million I agree 100%

Hodlers. No users.

We also have to use BTC.

Lack of interest. Pendulum is now swinging the other way.

"Newbie members" creating 600 trillion new topics each time it crashes.
Fixed it for you :)

To answer the OPs question, the price is up over 300% from this time last year, how can you say it is losing value?
No other investment vehicle on earth returned 300%
What does a bank pay you? 5% or less?
In fact some banks now "charge you" to deposit money, in the form of negative interest.
https://www.cryptocoinsnews.com/german-bank-hits-rich-clients-negative-interest-rates/

Perhaps the OP should be less concerned with the price and spend more time promoting Bitcoin.  Freedom is priceless!

We all need to spend time promoting and using bitcoin instead of just holding and not using it waiting for the price to hit the moon! It won't happen if we all don't work together!!!

The people who were here in 2011 were not as interested in speculation. We did not care about the price as much as how broadly we could get bitcoin adopted. It was when the price went sky high that the "to the moon!!" thing started. As one of those "old timers" I have zero interest in selling my bitcoin. In fact I have never sold a bitcoin. If I wanted dollars I would have kept thew ones I used to buy bitcoin. So the only reason I wait is when I'm waiting for a certain item to be traded in bitcoin.

there are still many people who sell massive bitcoin, bitcoin prices tumbling in the world market, according to the economic law of demand stuff if less then the price will go down or low, if the goods and demand a little bit more then the price of goods will go up or high

I hope we all hold to sell bitcoin today, we should first collect bitcoinnya and sell when the price goes up back ...  ::)

I would say that the price decline (or lack of price appreciation) has something to do with how much "defcon" of SR2 was spending on his living expenses. He had sold in excess of $270,000 of bitcoin on exchanges, $25,000 on (what appears to be LBC) and purchased a $90,000 car with bitcoin, and this is all the government was sure of....it is very likely an incomplete list

it is always over dumping of btc and the lack of buyers.