Bitcoin Forum

Just saying!!!

Cool.  Good catch!

Bitcoin's not been down against USD year-over-year since about August 23rd, 2012.

And I have a feeling it will be like this at least for the next couple of months. Although, I've been involved in BTC for several years now, so I'm over the price thing. If you look at the bigger picture and realize what BTC can bring to the table, price is hardly part of the equation.

Unless of course you're in it only for the speculative aspect, purely for the profit like majority of the people are.

Bitcoin was under for about 3.5 months last time.  I suspect we won't be down for that long this time but a couple of months is very much on the cards.


Bitcoin is a potential boon to mankind and the increasing market value of a bitcoin is an essential indicator of that potential being realised.

523352 Posts in Bitcoin Discussion, 905484 Posts (twice that much) in Mining subforum. The mining aspect is what the majority of the people are attending for.

So that Joe Average no more mines at home is of higher concern than market values. Since the later just follows the former.

Don't you see millions of dollars are injected to bitcoin startups or other related projects? Don't you see the number of merchants who are accepting bitcoin payment is increasing this year ? or later will be the same. They are focusing on the potential usibility it will bring to us.

Then it is time to buy.  :P

Remember, it was more volatile than this time. So hoping it remains this steady for the next course of the year. That would make a really strong statement.

I would like to eventually see the price of Bitcoin stabilize so it can be used as real money as it would be a better store of value. I realize that this point is a long time away but seeing more businesses accept bitcoin and all of the start-ups due to bitcoin gives me a lot of hope when it comes to the feasibility of bitcoin as money.

To me it is clear that the price won't go up much higher for a long while....

Think about it.  25 coins released every 10 minutes.  so 150/hr

150/hr x 24 hours is 3600 New Bitcoins a day.

So those miners probably are selling those and if they are, even at $400...  that is $1,440,000 a day that needs to come into BTC to sustain $400/coin

Go larger and say a week.  That is 10 million dollars a week... NEW money.  Not you and i and everyone in this forum trading and buying and selling.  I don't think there is that kind of money coming into BTC right now.  Imagine when it was $1200/coin 

That was 1.5768 BILLION A YEAR of new money that had to come into bitcoin.  I think bitcoin will rise one day.

2141

We will be 6 feet under.  Well, you will be, I'm robbing the Rothchilds of their live forever formula eventually

The price of bitcon would need to increase substantially from current levels in order to remain above it's year ago prices as this is when we had the bubble that caused the price to go above $1,200 and remained above 1k for a few months

I know there are many hoping for stability in the price for wide spread adoption and probably more hoping it rises in value in leaps and bounds to who knows how high.

What if it settled in around the $500 USD mark and stayed there for decades? What good does it do anyone if it's still valued in fiat terms and what the value of fiat will purchase if fiat is arguably going the inevitable way of all fiat...to zero? Wouldn't this devalue Bitcoin itself as an instrument of trade?

Does anyone have any idea when/how/why Bitcoin (or some other cryptocurrency) might separate itself from the current fiat system and stand on it's own as a form of universally trusted exchange for goods and services? Can it be done without major upheaval in global commerce? Can it survive major upheaval?

Just wondering...blockchain capabilities and innovation aside.  

you mean the price would over $1,000 again?

You make a good point in that price stability means it would just be at $500 for decades which is no good because its in fiat terms. As the value of the dollar fluctuates, so will the price of bitcoin. Therefore, it would be a good thing for the purchasing power of bitcoin to eventually stabilize. If the price stabilizes then all that means is that it might as well be pegged to the USD which would not make bitcoin a very viable alternative.

"Therefore, it would be a good thing for the purchasing power of bitcoin to eventually stabilize."

That's what I was getting at. The purchasing power of Bitcoin irrespective of the value any fiat.

When/how/why, bit of the ole chicken and egg thing...don'tcha think?
 

We can only conclude that today there is no willy bot (at least it's not pumping to that extent as it did last year) and that's good, no need for bubbles any more, bubbles only result in depressed investors and bad press. Let the crypto industry grow organically. More extended view on this. (https://bitcointalk.org/index.php?topic=852011.msg9599802#msg9599802)

Exactly my thinking. I think the fiat value will likely stay low or even drop from time to time for the next year or so, but I see the massive potential in btc within a few years time or more. Hopefully many major merchants will have got involved by then which is what we need so bitcoin is seen as a viable currency or medium of exchange and not just a risky speculative investment.


Which sadly seems to be the majority nowadays.

Slow appreciation of the price is good for BTC.

Last November was a bubble.

"For I was so much older then, I'm younger than that now." (https://www.youtube.com/watch?v=VbPa31KOZg0) - Bob Dylan
Bitcoin has seen its youthful exuberance tempered and hammered into leaner and meaner honey badger of steel.

I agree with poster above. We'll be down for a couple of months, so a couple of months to buy.

Some stability can only be good at that point. It's kinda hard to use bitcoin as money and do business with it in such a long bear market trend. I expect the next few months to be pretty boring in term of price action (hopefully).

The Bitcoin price in June 2012 was lower than in June 2011 due to the latter having been a bubble. There was another major bubble in November/December 2013 as well as a minor one in April 2013. So I'm not surprised that the price is lower this time around. And while the price of BTC valued in terms of USD has risen every January year-to-year, I expect this won't be the case in January 2015. :(

Curve is slowing but 100k is still there

If we won't see a mayor pump this year, 2014 is the most dumbest btc year so far, we must hit the news in a good way

Possible be the last good year for bitcoin.

Yes, this will be the last good one because next one is going to be Legen...Wait for it...Dary - Legendary lol  :D
jk last year there was gox and sc clouds in the air but this year is almost dry. 

price is irrelevant, it's only need is growing user base and the data on blockchain.info shows a huge growth in wallets

the next bubble is 7M wallets, the last bubble was 700K wallets

Last I checked we were over 2M wallets

so that's the real world data that moves the needle to new areas of support

the more things you have like bitcoin casinos, and silkroads and adult stuff that feed human vices that refuse old world fiat

the more need people have to fuel the vice needs of 7 billion humans with bitcoin

so it's just educating vice suppliers and vice consumers to use bitcoin

then that will trickle into the main world currency type of spending

grow vice with btc and btc will be huge

there's no need for anyone to use btc for the real world, it's a vice currency

vice are huge industries

drugs
gambling
adult stuff

so educate vice operators and btc will be huge

Price stability after a few bubbles is exactly what we need. Wild spikes and valleys are not signs of a stable currency. Just saying.........

Unfortunately, it looks like it is going to be that way. Although the last bubble from 2013 took only a few days for the price to go up 10x so it would not be 100% out of the question to have a late year massive rally.

I would say that one good thing about the lack of a big pump/rally is that the price has stabilized substantially and as a result more people are likely now willing to invest in bitcoin and bitcoin related infrastructure. 

Price stability after a few bubbles... Definitely not price stability in the $300-$400 range.  ;D