Title: Explanation why bitcoin price is growing Post by: Dioptriy on November 04, 2015, 11:36:51 AM There are several reasons:
1. (The most important) Bitcoin is Exempt from VAT, Rules European Court of Justice. BTC=Money. If you make value in BTC price rise there will be no tax deducted. Also This means that victimization of bitcoin universe will stop. This chain of events also opens doors for china residents to transfer funds out. That is where all this money comes from. You may ask why there was big lag in price surge, well big money have some lag in them. you need desicions to be made in meeting rooms and banks need time to trunsfer funds. 2. There was some caution over mine power destribution ... it all been in China on stolen electrisity and all. Now that there are big mines created outside China, the is more safety for any bitcoin investments(PS first point would not work without the second) 3. As the bitcoin keeps surviving all the odds, there is more trust from the public. And that takes time. Longer bitcoin stays alive, more trust it will have. 4. Waves. There was like 2 year downtrend. And 200$ basicly is pure mining cost. Market can go lower but when all cheap and old bitcoins will be sold we will push off the 200 mark up. 5. Consensus on block size is good news from all sides If you have anything to add, pls wright below. PS i dont know is this super surge will go to the moon, or last, so be carefull Title: Re: Explanation why bitcoin price is growing Post by: Snail2 on November 04, 2015, 11:42:49 AM Here's an other good explanation for you:
http://www.zerohedge.com/news/2015-11-02/reason-bitcoins-recent-surge-revealed (http://www.zerohedge.com/news/2015-11-02/reason-bitcoins-recent-surge-revealed) Title: Re: Explanation why bitcoin price is growing Post by: Dioptriy on November 09, 2015, 07:21:14 PM PS
I also expect start of netting subsystem between main exchanges, it would help the volume grouth Title: Re: Explanation why bitcoin price is growing Post by: bitcoinbettingtips on November 09, 2015, 08:11:50 PM 2. There was some caution over mine power destribution ... it all been in China on stolen electrisity and all. Now that there are big mines created outside China, the is more safety for any bitcoin investments(PS first point would not work without the second) The mining operation in China is more than 50% of world total. You cannot steal so much power to mine. The electricity price is cheap in some parts of China. Most of the mining farm are close to hydro power station, where the electricity price is less than $0.05/kWh. Title: Re: Explanation why bitcoin price is growing Post by: jasonjm on November 09, 2015, 08:35:32 PM did I miss something? what is the consensus on the block size?
Title: Re: Explanation why bitcoin price is growing Post by: mezmerizer9 on November 10, 2015, 02:15:45 AM Here's an other good explanation for you: This article as well http://coinour.com/index.php/2015/10/30/will-the-rally-of-bitcoin-price-continue/http://www.zerohedge.com/news/2015-11-02/reason-bitcoins-recent-surge-revealed (http://www.zerohedge.com/news/2015-11-02/reason-bitcoins-recent-surge-revealed) did I miss something? what is the consensus on the block size? It seems BIP101 is accepted by the majority and has been implemented in the testnet. Just to see how it plays out.Title: Re: Explanation why bitcoin price is growing Post by: samuel999 on November 10, 2015, 02:23:32 AM Here's an other good explanation for you: This article as well http://coinour.com/index.php/2015/10/30/will-the-rally-of-bitcoin-price-continue/http://www.zerohedge.com/news/2015-11-02/reason-bitcoins-recent-surge-revealed (http://www.zerohedge.com/news/2015-11-02/reason-bitcoins-recent-surge-revealed) did I miss something? what is the consensus on the block size? It seems BIP101 is accepted by the majority and has been implemented in the testnet. Just to see how it plays out.The price could also be growing due to the MMM Global ponzi where a lot of people are "investing" Since it uses Bitcoin, people might just be buying Bitcoin to use in that ponzi, which ultimately will create more negative media for Bitcoin once that ponzi collapses. Title: Re: Explanation why bitcoin price is growing Post by: Cashew on November 10, 2015, 02:32:36 AM The price could also be growing due to the MMM Global ponzi where a lot of people are "investing" Since it uses Bitcoin, people might just be buying Bitcoin to use in that ponzi, which ultimately will create more negative media for Bitcoin once that ponzi collapses. How do you know the main reasons is that MMM Global ponzi if you don't have precise data. Yes, I know many ppl are involving at this ponzi. But nowadays it is just our assumption. I know once this ponzi collapes, it will dramatically affect bitcoin's image again. Title: Re: Explanation why bitcoin price is growing Post by: talks_cheep on November 10, 2015, 03:02:07 AM People on this forum are so dumb.
It's China. They're buying bitcoins to mitigate their government's short-sighted attempts at currency control. You do know where the buying pressure is coming from, right? Follow the money trail and it all leads to China. Title: Re: Explanation why bitcoin price is growing Post by: samuel999 on November 10, 2015, 03:27:42 AM The price could also be growing due to the MMM Global ponzi where a lot of people are "investing" Since it uses Bitcoin, people might just be buying Bitcoin to use in that ponzi, which ultimately will create more negative media for Bitcoin once that ponzi collapses. How do you know the main reasons is that MMM Global ponzi if you don't have precise data. Yes, I know many ppl are involving at this ponzi. But nowadays it is just our assumption. I know once this ponzi collapes, it will dramatically affect bitcoin's image again. Title: Re: Explanation why bitcoin price is growing Post by: dasein on November 10, 2015, 03:35:59 AM did I miss something? what is the consensus on the block size? https://youtu.be/0iQSRGT3nfE (https://youtu.be/0iQSRGT3nfE) Title: Re: Explanation why bitcoin price is growing Post by: Dorrittulx on November 10, 2015, 03:43:45 AM Reason: People love Bitcoin.
Ta-da. Title: Re: Explanation why bitcoin price is growing Post by: bitcoinbettingtips on November 10, 2015, 02:41:38 PM If the main reason is MMM, then MMM should be in trouble. MMM is a Ponzi, it has to buy all the time so that the Poniz scheme is live. So the price should rise all the time with consistent buying from MMM.
Title: Re: Explanation why bitcoin price is growing Post by: makcik on November 10, 2015, 03:35:22 PM There is always a certain reason behind everything. So is the case behind bitcoins. When demand for something increases but, supply is still same, then it's price would increase. Same thing is happening with bitcoins. Number of people who are using bitcoins is increasing now but their supply is still same and as a result, price is increasing day by day. The price increase will come to rest when the demand is either controlled or supply is maintained according to demand.
|