Stock markets are actually doing much better than predicted, so I don't think there will be a huge influx of dollars into Bitcoin.
The original movement into bitcoin happened because of events in Europe (Cyprus in 2013) and events in Europe remain the best hope for bitcoiners. The United States is too diverse and hence too self-regulating and stable to be a source of demand for bitcoin, no matter who is president. |
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People will only shift to bitcoin if they are afraid. But there is nothing much to be afraid of in the United States. The transition is going smoothly because both sides are determined it will be smooth. There is no challenge to the result, there is no instability. No-one will be seizing people's savings and it is likely that interest rates will rise.
All point to a rising dollar.
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I wouldn't be surprised if a ton of other whales dump though.
I think the issue right now is that the whales are dumping 1/104 of their steempower every week, but making just as much from inflation rises to steempower plus curation. So it's a pepetual dumping machine. Under the new system, if they dump, that's it, their stash is much lower. So they can only dump once. When the dumping is out of the way, the coin should rise because selling pressure has abated. I think the issue now is more of trust than anything people have been burnt by the crash in price, I know alot of people are now using the platform now which is good and the number of users have increased significantly but will it worth the effort soon I think some people will undoubtedly use the opportunity to cash out and invest in other coins. So a bumpy three month ride till they have gone from the system. |
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I think it's possible to happen. After his election bitcoin rise up and many people started talk about it.
Both bitcoin and gold rose after his election - and then both sort of subsided. He won't get inaugurated till January 20th for a start, and that is more than two months away. After that, it depends entirely on the strength of the dollar. If the dollar is strong, bitcoin will rise, if it weakens it will fall. |
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I wouldn't be surprised if a ton of other whales dump though.
I think the issue right now is that the whales are dumping 1/104 of their steempower every week, but making just as much from inflation rises to steempower plus curation. So it's a pepetual dumping machine. Under the new system, if they dump, that's it, their stash is much lower. So they can only dump once. When the dumping is out of the way, the coin should rise because selling pressure has abated. |
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It all depends on whether the Fed raises interest rates in December.
If they do, bitcoin's price will stall against the dollar. If they hold off, bitcoin might rise.
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Well as I write this, my Mycelium wallet is showing $699.30 as a price, so my guess is that a lot of folks are taking their profit off the table. Not a bad thing to do at all, and hopefully this rally will resume shortly. That also means it's probably a good time to buy. Buy the dips and such--I'm usually not a firm believer in that phrase, but I think it's valid here.
Hopefully the price will consolidate at this level for a few months. Usually when it goes up too fast, it comes back down again equally fast. |
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Many altcoin are just toys of speculators, or better pumpters and dumpters. All those have no real future when speculators lose interest. There are approximately 20 coins and projects which really have something valuable for which the price is fair.
People like alts for the same reason they like penny stocks. They know most are rubbish, but there is the chance to make a killing if you get in at the right time. |
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http://www.bbc.co.uk/news/world-europe-37810438Switzerland's national rail service (SBB) plans to start selling the digital currency Bitcoin at stations next month.
From 11 November, customers will be able to trade Swiss francs for Bitcoins using ticket machines.
They will not be able to buy tickets with the web-based currency, though.
The SBB said it had been testing customer demand for Bitcoin across the country, and had decided to launch a two-year pilot project.
To buy Bitcoins, would-be purchasers will have to give a mobile phone number for identification.
Transactions will be capped at 500 Swiss Francs (£415 / $500) each. One Bitcoin currently equals around 708.64 Swiss Francs, but it is possible to buy fractions of the currency.
Swiss financial services company SweePay is providing the conversion service.
"There have been few possibilities to obtain Bitcoins in Switzerland until now," SBB said. "With its 1,000-plus ticket machines, SBB operates a dense, around-the-clock distribution network that's suited for more than just ticket sales."
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according to an article I read today that said that the increase in bitcoin's price is related to the fall of the Chinese yuan
I don't buy it. that implies regular Chinese people are getting into bitcoin to save themselves. if that was the case then the price would go stratospheric. I doubt there's any new people coming in in large numbers. Not "regular" people - they're not doing anything at all. And the really rich are all buying property outside of China to hide their money. But the small group who are into cryptocurrency will be buying bitcoin, they're already in the space so it's the easiest action for them (trying to go to Macau to change yuan into dollars is too difficult). |
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The thing about the United States is that the President isn't the most important person as far as the economy goes. Yes, the president controls foreign policy and defence, but Congress controls taxes and the fed. So I expect an interest rate to rise and the USA to survive no matter who gets elected, because separation of powers really will protect them.
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I think Doge is due for one of it's periodic moves up. See  |
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this was all about supply vs demand.
a big FOMO without a premine to dump the price = price going full retard.
i still dont understand why people were buying at some point tho... like 100btc+ and that was "cheap" (ATH 3299)
Possibly new money into cryptos. Anyone who has been here since about 2013 will have seen hundreds of new alts launched , hyped and then fall as their devs cash out. It happens so frequently, no-one knows why noobs fall for it anymore - I can only think they haven't researched how previous alts have behaved. |
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I took longer than we expected because we thought that at halving time the price would be higher.
The pump up to the halving took the price to about $735. So it will probably go back up to that. After that... we've got both American interest rates rising and the Chinese yuan weakening further. If the bulk of buyers are coming from China (money escaping), then it could hit $800. But rising American interest rates will mean that some people in the west will take profits and sell and park their dollars in money market accounts |
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The banks are more transparant than this lot, I will take the banks on this one.
Yup, people seem to be very confused about privacy (private details of users protected) and transparency (details of the SYSTEM everyone uses being kept open for everyone to see). This has no transparency. It's a bit like the famous South Sea Bubble corporation of 1711, whose prospectus said "A company for carrying out an undertaking of great advantage, but nobody to know what it is". Three hundred years later, and lessons still haven't been learned. |
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Careful, if American interest rates go up (and that's looking more and more likely), then bitcoin's advance should stall. Unless desperate folk in China and elsewhere buy because their currencies are weakening.
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https://steemit.com/steem/@steemitblog/announcing-steem-0-14-4-shared-db-preview-release"Blockchain Features on the Short Term (this year) roadmap include: Allowing the community to vote on Blockchain Paramaters such as: a. Reducing the Inflation Rate b. Reducing the Vesting Withdraw Period c. Reducing Vesting rewards d. Reducing Witness pay f. Other properties that are currently hardcoded Curation Guilds - allow people to pool and share voting power" If you read the article, they arn't making changes, they are allowing people to VOTE on the changes. I guess it depends on what the whales think as to whether it happens, as they have the heaviest votes. Just like shareholders in a normal public company. That's all blockchains are is companies and most issue shares daily. The distribution concept is nothing new, but you guys can't stop talking about this platform nonstop. There must me more than just the mundane distribution that keeps you from spending hour after hour of your precious lives babbling endless about another public company. Well if whales are voting I can't see vesting rewards or witness pay reduced. The withdraw period might be shortened though and the inflation rate reduced. |
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https://steemit.com/steem/@steemitblog/announcing-steem-0-14-4-shared-db-preview-release"Blockchain Features on the Short Term (this year) roadmap include: Allowing the community to vote on Blockchain Paramaters such as: a. Reducing the Inflation Rate b. Reducing the Vesting Withdraw Period c. Reducing Vesting rewards d. Reducing Witness pay f. Other properties that are currently hardcoded Curation Guilds - allow people to pool and share voting power" If you read the article, they arn't making changes, they are allowing people to VOTE on the changes. I guess it depends on what the whales think as to whether it happens, as they have the heaviest votes. |
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Remember than in terms of dollars most of the alts haven't changed at all. Bitcoin rises against the dollar, and the alts decrease against bitcoin to keep the dollar value steady.
This always happens, everytime bitcoin moves up.
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Bitcoin might get adopted, but I doubt Auroracoin will, why would they place themselves under the mercy of a non-citizen who premined at their expense?
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