What I think: A lot of people have their summer vacations right now, and many of us (tech geeks at BTC forums) has all or most of their savings in BTC.
So they sell some to get money for travel and vacations. Sell pressure. At the same time that buy pressure is low when a large part of us is on vacation.
And major investors won't step in right now. Probably in september/october we will see a lot more action.
Personally I would actually LIKE to see BTC be at this level or lower, for at least another couple of years (!!) so that I can save and invest more money in BTC.
Also stability aroung $600 would probably help for more mainstream adoption.
The main criticism and skepticism I've heard is about the volatility. Personally I think 1 BTC should be worth at least $2000 by the end of the year, and I believe that it possibly could be worth x10 times that, in 2014. But it would be much more profitable for ME if thoose level is delayed a couple of years.
I was really puzzling over why the price kept trending downward given that running a full node has shown me that the volume of bitcoin usage has gone up significantly lately. But this explanation makes a lot of sense to me, I'd wager this is what's going on. Just wish I had bought now instead of several weeks ago when it was $650. Oh well, I'm still confident that it'll go up again - eventually. This makes sense to me because I was considering selling some of my investments to go on vacation myself |
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Wouldn't we get better advice off a hero member rather than a newbie?
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People have to buy and sell bitcoins if they want to speculate on alt coins, so that should help to counter the problems caused by hoarders.
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I don't like how they are selling Ether for BTC when there's no Ether blockchain or coins. Lots of hype around this "platform", same goes for Storj, lots of show with little being delivered. Right now, all these are just sleight of hand tricks to crowdfund without calling it crowdfunding.
Hey, give me a bunch of BTC because I just made a slick video about how I'm going to disrupt conventional application delivery!
Ugh...
All the current "IPO's" seem to be offering nothing but promises. Buying them is a big gamble and I almost took the risk, but decided it was placing to much trust in just a promise they would produce something great. |
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That's the kind of thing Ethereum promises. We'll see.
Is Ethereum backed by any University's or big businesses? I noticed one of the dev's is a professor. |
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Is it technically feasible to attempt finding a wallet's private key? I thought it was practically impossible to do it with today's computers. I have already lost a few keys and know I have coins on blockchains that I can no longer spend.
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Maybe everybody is either spending their time and money on summer holidays, or desperately short of cash after they get back home.
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Is it a good time to buy feathercoin with all these new developments happening?
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I notice you have registered the domain xcryptonite.org, but two coins with the same name is too confusing. It would not cost much to register a new domain and change the coin's name to something different.
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When will the wallet be available for download?
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....but before the markets were dropping there was almost no volume on RDD (based on my Cryptsy observations last month or two)
it surprised me sort of that RDD actually went up a lot while all the others pretty much tanked hard.
But not really because i had seen that happen lots before going back last year..
Ya noticed RDD going up here too...haven't followed the coin until I noticed Cryptsy made it available in usd, was wondering why the hell they are putting that 20 satoshi coin on the banker money trades. So turned it on for viewing in my dashboard for btc<c trading too & started watching it, still haven't installed the wallet or bought any, but find what its doing right now very interesting, trading @37 right now. Thanks for pointing out the monthly cycle, I had not noticed that fact before, really only started following alts since last Dec, pretty convinced its true though. As to proof to those wondering if this is 'real', was thinking about how to verify that yesterday, thought it would be an interesting problem to solve...one would have to feed allot of the time/price data for allot of the different coins into an FFT transform, look at the output in the frequency domain, if its real, there should be a peak around the 30-31 day mark. Anybody setup to do that? Do you think RDD is a good buy right now? |
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Whats the best anon coin to date? What about Zerocash?  There's no viable solution as of yet. No matter what you buy, you're investing in promises. Monero is fully working 100% anonymous transactions, the code is open source just look for yourself. Monero is a year or more away from being a viable option. Functional does not necessarily imply viable. What are you even talking about? The network works fine, transactions get sent and confirmed, difficulty has doubled in 10 days. How big is the Monero blockchain? |
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If anything does overtake bitcoin it will probably be so advanced that it hasn't been invented yet!
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