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Developing countries have a huge market in terms of inward remittances.
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I could be completely wrong but from observation, it seemed as though BTC/USD increased to $1,000 each last year because most of the speculators (particularly the newest speculators) hoped that people would develop more and greater services which would be centred around bitcoin. Which has happened but not quick enough then most had hoped and this is completely due to Government intervention, particularly China who is trying to eliminate it completely and the US Government would love to do the same thing but instead they will keep crippling the unregulated financial services offered in bitcoin. Now, I might be wrong but I believe that the fact that these asset exchanges and lack of banking services is a major contributor to why the price isn't higher than it is now. If everyone believed they could get huge returns quite easily using bitcoin then of course the price would be back to where it was beforehand. If people were so scared about the volatility then they would just hedge.
The increase in price last year was due to market manipulation by bots.  The bots were purchasing on behalf of speculators with a lot of money. It is not a conspiracy. Zoznoz is likely correct to say that speculators were trying to profit from quick and massive bitcoin adoption but the chinese government was able to stem this in their country. I would anticipate them easing off these bans/regulations over the long term as they become more of a free market economy Is there any evidence on the use of bots? It was covered widely in the media. http://www.theguardian.com/technology/2014/may/29/bitcoin-bots-bought-millions-in-the-last-days-of-mt-gox |
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I could be completely wrong but from observation, it seemed as though BTC/USD increased to $1,000 each last year because most of the speculators (particularly the newest speculators) hoped that people would develop more and greater services which would be centred around bitcoin. Which has happened but not quick enough then most had hoped and this is completely due to Government intervention, particularly China who is trying to eliminate it completely and the US Government would love to do the same thing but instead they will keep crippling the unregulated financial services offered in bitcoin. Now, I might be wrong but I believe that the fact that these asset exchanges and lack of banking services is a major contributor to why the price isn't higher than it is now. If everyone believed they could get huge returns quite easily using bitcoin then of course the price would be back to where it was beforehand. If people were so scared about the volatility then they would just hedge.
The increase in price last year was due to market manipulation by bots. |
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The article is dated Oct-13.
Nothing material seems to have happened on this front in the last 1 year.
The BRIC countries joining together to form their own bank seems to be a bigger threat to the dominance of the dollar.
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I've seen MASSIVE apartment complexes, practically small cities, completely vacant in the middle of nowhere while riding the train through China. It's strange to see nothing but farm-land, then BOOM, skyscrapers with no signs of life, then back to farmland.
This is the situation in other countries as well. The real estate bubble is about to burst across the world. |
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This would be a PR disaster for the bank.
Market share will be dropping, I presume.
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There is a market for intermediaries to provide the last mile connection (bitcoin to local currency conversion). However, companies are hesitant to enter this space due to the regulatory issues involved.
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Existing Bitcoin holders spend their coins, this is the main effect of mainstream merchant adoption.
Why did these bitcoin holders buy coins in the first place? You are presuming a large demographic of people that considered bitcoins worth having when there was little merchant adoption but not worth having now that bitcoins are more widely accepted. Besides, there's a far simpler explanation for the 2014 bear market: A correction to the 2013 bubble(s). We can't prove that the price decline is triggered by mainstream merchant adoption with the merchants dumping bitcoin for dollars. I do not believe in this theory, because merchant adoption is increasing in general with some of the merchants keeping their bitcoin. Also I do not think that bitcoiners waited for more merchants to cash out (they could have done this earlier if they'd wanted to), instead I consider the majority of early bitcoiners being hardcore holders which rebuy Bitcoin any time they spend them. Why? Because they adopted Bitcoin to escape from the shortcomings of the current monetary system. So it's reasonable to assume that the decline in price stems from an ordinary correction of the epic rise of 2013. I think higher merchant adoption is causing somewhat of our current price decline. I also believe it will be short term. The reason some people may have not sold their bitcoin would be they would need to give up privacy in order to do so (or risk getting scammed on places like LBC or the currency exchange section). I would argue that some people with, say 50 BTC might decide they want to "sell" 2 BTC to overstock (who would end up selling 1.8 BTC of this) in exchange for some goods on their website. I would argue that over longer periods of time that merchants will start to discount prices for people paying in bitcoin which will result in more people buying bitcoin in order to take advantage of these discounts The benefits start accruing to the merchants immediately. I wonder why they aren't passing on these savings to customers through discounts.  |
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When all bitcoins get mined, miners will keep working in the transactions. They will win with the fees. None of us will live to see what happens when all the bitcoins are mined. We will be around for a new all time low that's for sure... Hopefully the round will blast us far away from this zone!! How do you define all time low for something which started at ~ 0 USD?  |
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People have bought houses with bitcoins... food and cars shouldn't be a stretch. |
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if i translated the OP's message to common terms it would look like this
yank: " lets get europeans to buy some dollars so that we can screw with the FOREX price and double our money, we dont care that europeans have limited usage to buy toilet paper or a bunch of banana's or grapes with dollars over in europe. we just want 200% growth".
OP is not a long term thinker, nor truly understands what bitoin is about.. all he cares about is dollar profits
Sizable dollar profits in the short term is not bad. In the end - bitcoin or dollars give benefits only when they are spent. |
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Bitcoin might go below $100 dollars:/
If it did, I'd put most of my savings in it then And then you may see it go to $10. |
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I would like to join this campaign.
Current Posts: 60
BTC Address: 1F46upmYAYj4DhYfDM7XdxeqchTxSER7dc
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Because poor people want your money and you are naive enough to think rich people aren't greedy cunts.
Everyone wants money, both rich and the poor, and its never enough. Make a poor man rich, and its most likely , he'll also want more. The more u have, the more u crave for it. Yeah, so how does that refute his argument anyway. Poor people think they are going to get money by being nice to rich people. Poor people hate each other because they are competing to do favors for rich people. It's a sad reality we live in. Poor people don't work, work for poor people or middle class, not for the rich Rich are taking care of by millionaires that will then have middle class working for them and the Rich make their money selling services or products to the government or the poor with the help of the government Poor people don't work? Poor people have no choice but to work... |
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It is kind of tough to think of a world without internet. Hope it is the same with bitcoin too in some time. |
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When all bitcoins get mined, miners will keep working in the transactions. They will win with the fees. None of us will live to see what happens when all the bitcoins are mined. |
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Good news for bitcoiners. Let us see the effect of this news in the coming weeks.
I have a question: Paypal charges fees right? How about the idea of low fees from bitcoin? Would it be ruined by Paypal or not? Would the idea of low transaction fees be compromised by this system?
The fees would have to be absorbed by the merchants. Low transactions fees would only be applicable if you directly purchase goods from the vendor. |
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If stock market collapse, bitcoin will collapse too. You know people would just keep USD..
That is assuming people treat bitcoin as an asset, and not a currency. Otherwise, they will sell stocks for bitcoins or for USD. |
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I hope theyre not.. The war will not only affect them but also the whole world.
This would be a war they can not win. Russia is not, and has never been, a pushover. |
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War is cannot be avoided. There will always be war no matter what the date is. It is imbedeed in our genes. War destroy things war also force us to create new things. There are no government that will last forever it will be destroyed by others or it destroys itself. This is just human nature. Humans are predator.
War exists because society is perpetually stoned from the flesh and blood we breathe in and consume. "predator" LMAO .. More like blood/meat addicted, dumbass savages who's prey is anything that is incapable of defending itself. Does that steak smell good ? Go on.. take another cowardly hit !  Wasn't hitler a vegetarian toward the end of his life, i.e. the period he was responsible to kill the most amount of people? http://en.wikipedia.org/wiki/Adolf_Hitler_and_vegetarianism  Vegetarians don't mind seeing blood. They are just against ingesting it. |
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