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All the news about Bitcoin is positive, and investors are flocking to the crypto. So why isn't the price going up?
ANSWER: Institutional players are artificially depressing the price through short-selling with a plan of buying LOW. Once they move the hot money into Bitcoin, I expect the price to rapidly jump to $1000+
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They would go out of business in a heartbeat from that kind of volume. They don't even have a profitable business model and they're WIDE OPEN to all kinds of nasty fraud. I'm sure the carding community is licking its chops thinking about how they will card Circle...
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Its very simple.
Consumers dont adopt BTC because they dont get any.
Is your paltry salary or another earnings paid in BTC? No ways.
Do you sell your used car for BTC? No ways.
You can pay with bitcoin. Yep, but you
CANT BE PAID IN BITCOIN.
No bitcash, no payments, easy. Nothing comes into existence from nothing.
I think this is a very good point! |
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consumers will eventually smarten up .. but mainstream adoption is going to take time. It won't happen overnight. Some people will never adopt it. Hell, my grandpa still doesn't know how to turn on a laptop much less a smartphone ...
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there is absolutely NO DOUBT that short sellers and price manipulators are artificially crashing the price of Bitcoin, just like price manipulation at GOX caused it to rise in November 2013
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Yeah, but they will cover losses out of their $20million VC funding.
Hell, they don't even SPEAK about making profits. No need to. CEO Allaire is making money by simply pocketing VC funds as a 'salary'.
So, they will get hacked, carded, scammed for a couple years until the money runs out. Then they will shut down, freeze all accounts, and say 'sorry' to all the Bitcoiners who lose their money ...
C'mon now, this kind of scam is old as the hills ...
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lol Circle is going to get carded/scammed in a big way. But that's ok, they can afford it, with that $20mil in VC funding. But when that runs out and fails to cover the losses, what do you think will happen to Circle and all its users? Can you say GOXED ?
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i'm going to renew them, regardless to auction result, i know it's high price, but it's my unfulfiled dream to make my own bitcoin service - life did not give me time to do it
No offense, but no one cares about your unfulfilled dreams. These domains aren't worth more than .1 BTC for the whole set lol |
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lol these domains are not worth anything at all
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Bitcoin in general is a SELLER FRIENDLY payment system while Paypal has traditionally been BUYER FRIENDLY. One of the main advantages of Bitcoin is to replace outmoded legacy payment systems like Paypal and credit card. No wonder Paypal is embracing it; either that, or they will eventually be completely eclipsed by Bitcoin.
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Folks, it should be OBVIOUS that Bitcoin price is on an artificial downward spiral due to PRICE MANIPULATION at the big exchanges!
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No, the reviews are not from me.
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The world's wealth in 2007 was more or less 150 trillion $ (USD 1.5 * 10^+12) [1] The number of people living on earth is more or less 7 billion (7 * 10^+9) [2] The maximum number of bitcoins is 21 million (2.1 * 10^+7) [3] This means there is 21*10^7/7*10^9 = 0.03 BTC for every world citizen. And the current wealth, expressed in the total available number of bitcoins in USD/BTC is 1.5*10^12/2.1*1+7 = 0.5*10^12/0.7*10^7 = 0.7 *10^5 = USD 70,000 / BTC. With inflation going like it's going now, USD 1 might be (I'm speculating here) worth only 1 UBC (micro Bitcoin) by the time all 21 million Bitcoins are created. Does this make the bitcoin ultimately usable as a worldwide currency, replacing current currencies? I think not, and it's built-in. References: [1] http://www.stockmarketfunding.com/getfile/343e5d94-2871-48a5-9aa6-550c3da0bbd2/World-Wealth-vs-World-Derivatives-1998-2007.aspx , http://upload.wikimedia.org/wikipedia/commons/thumb/2/24/US_derivatives_and_US_wealth_vs_total_world_wealth_1995-2007.gif/800px-US_derivatives_and_US_wealth_vs_total_world_wealth_1995-2007.gif [2] http://en.wikipedia.org/wiki/World_population , http://www.google.com/chart?cht=lxy&chd=s:ABCDEGHIJLMNOQRSTVWXYabcdfghiklmnpqrsuvwxz01245679,XXXYYZZaabccddeffgghhijjkklmmnoopqqrrsttuuvwwxxyzz&chds=0.0,1.0&chs=160x101&chco=287bf5ff&chls=2.0,1.0,0.0&chxt=x,r,x,r&chxs=0,333333,0,0,tl,333333|1,333333,0,-1,tl,333333|2,000000,11.5,-1,tl,333333|3,000000,11.5,-1,tl,333333&chxtc=0,2|1,2|2,0|3,0&chm=h,cccccc,0,1,1,1|h,cccccc,0,0.5,1,-1&chxp=2,0,82|3,5,50,95&chxl=0:|1960|2009|1:|0|4B|8B|2:|1960|2009|3:|0|4B|8B [3] Mentioned many times here in this forum  Shows your ignorance of Bitcoin unfortunately .. it is (almost) infinitely divisible |
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Hi folks,
Two simple pertinent facts:
A. Bitcoin is gaining much wider acceptance at a rapid rate, and new Bitcoin companies overflowing with venture capital money are sprouting up daily
B. The price of Bitcoin is going down, not up
This can ONLY be explained by PRICE MANIPULATION on the part of one or more big exchanges like CoinBase, Bitstamp or BTC-E (the main culprits). Remember how Mark Karpeles' trading bots at Mt Gox spiked the price to $1200+ in November of 2013? Now the big exchanges are intentionally CRASHING the price so they can buy up CHEAPLY at rock bottom because they KNOW that the price is set for a massive boom due to increasing adoption worldwide.
How low will it go? Only the price manipulators know that, but my guess is well below $400.
Invest at $350 would be my recommendation.
And, of course, enjoy the ride.
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BULLSHIT. This has nothing to do with me.
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hi folks, I just launched a free site which helps people understand Bitcoin and is designed particularly for Bitcoin newbies. Please pass it on to anyone who is new to Bitcoin as it will help them get started using BTC: http://BitNewbie.com |
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