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The Chinese crypto market is huge compared to other places. It doesn't matter whether people in the western world are fazed when they read news of the China bans. If China does really start cracking down the effect will be felt over there and we'll see the price dropping on Chinese exchanges. Maybe we'll get a scenario where western exchange prices decouple from Chinese exchanges like what happened with gox, but I feel like that is unlikely.
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Gox's 200,000+ btc is going to be liquidated soon, and that could be bullish or bearish depending on how you look at it. Some people view the recent positive assessment by financial analysts as bullish. I don't really see much on the horizon right now that would draw the masses that we'd need to go from $500 to $5000. The average person who had heard of btc has only heard negative things about it; hacks, stolen coins, drugs, nerds, etc.
We don't need the masses to get to 5000/BTC. We only need a few hundred million dollars of demand, and that could easily come from a single person (oligarch, sheik, etc.). So a few hundred millions is going to raise the market cap from $6 billion to like $60 billion? Just doesn't seem very plausible to me. We'll need more than a few adopters to reach such a valuation. I don't even think bitcoin is ready for the masses. Maybe 10s of thousands of people lost coins on gox; imagine if we had mass adoption and millions of users lost money. Btc would come crashing down. Btc services need more robust security of decentralization. |
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Gox's 200,000+ btc is going to be liquidated soon, and that could be bullish or bearish depending on how you look at it. Some people view the recent positive assessment by financial analysts as bullish. I don't really see much on the horizon right now that would draw the masses that we'd need to go from $500 to $5000. The average person who had heard of btc has only heard negative things about it; hacks, stolen coins, drugs, nerds, etc.
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Whales can influence the market with large buys or dumps and also buy/sell walls. They might get some insider info from exchanges too.
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If they don't need to convert it then they won't. But something tangible will always be used as money by many, even if virtual currencies take over.
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It's working just fine for me. I find this forum to be the best source of info relating to bitcoin. There's always going to be people spamming, scamming, and complaining and you can't please everyone. I think if we reach a point where this forum has outlived it's usefulness, people will simply mass-migrate to a better discussion medium.
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To me early adopters = got in before GPUs and ASICs. Mid = Got in during GPU era. Late = Got in after asics came out and dominated mining.
And the ones that get in in a few years time when Bitcoin has reached mass adoption? What are they? There's no guarantees that bitcoin is going to reach x amount of dollars or mass adoption. If bitcoin never rises above the current ATH then people buying recently are late adopters. If it does then I guess we could call the first generation of adopters 'pioneers', anyone buying under $1000 an 'early' adopter, and others can be the 'late-comers'  |
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Using China news to drop prices for a nice fat rebuy worked so well last time, why wouldn't they try it again? This is becoming rather dull and predictable.
They probably will try it again but the drop won't be as significant. |
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One day it's the bears making bold predictions and the next day it's the bulls. I tend to look at the general sentiment but don't really pay much attention to the numbers. I think we may see another drop in price when most people least expect it.
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A greater market cap and widespread adoption with a more even distribution of coins.
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what u got a response for that low btc I was offering 0.0011 for post and no helped me but sliding horn.
You still looking for posters? |
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Paying by PayPal is a drawback not an incentive.
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I'd buy bitcoin with $20,000 and leave the rest in silver. Then as btc prices go up, I'd take some profits and put it in silver.
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Lol you must be cosmofly's bullish twin! |
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There's not really much you can do online with your skill set except possibly write articles. There's a few ads in the services section looking for article writers. If you have some money then you can also try buying cheap stuff locally and selling it for some BTC. There are opportunities, you just have to find them and take action  |
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Looks interesting. What type of phone access does this app use?
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I'd consider anyone getting into BTC right now to be a possible early adopter. Right now early adopters are those who got in when the price was in the single and low double-digits. People getting in right now are late adopters. If we reach the point of mass adoption then these current late-comers could be classified as early adopters.
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So did the Chinese bank account ban come into effect or not? It seems like nothing has changed at all. Did they reverse their decision, was the news simply false, or did it not have any effect?
Far too many people place far too much importance on China. Just my BTC0.00000002 You're probably correct on that. I'm curious to know if any sort of ban actually took place. It did appear that the PBOC was set to take some action, but it doesn't appear that they did anything. |
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The ban was supposed to be enforced between the April 15 and 18, but it's looking like it may have simply been a rumor.
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So did the Chinese bank account ban come into effect or not? It seems like nothing has changed at all. Did they reverse their decision, was the news simply false, or did it not have any effect?
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