But this still doesn't explain how the price goes back to the starting point. The noobs don't sell in a dump - I think.

If your theory is correct then there is no organic growth at all. The price is all down to trading.

Then who is making money and who is losing it?

A dump is initiated by a whale. It's not by other small fish speculators. E.g. today's dump has no down trend. Over the last few weeks it been slow up trends followed by big dumps. This means a whale is dumping but the minnows are not. Thus where does the whale make money if the price goes back to the starting point?

Why does the price go back to the point before the pump?

If a pump and dump is occurring then surely the one who initiated the pump was not the only one who bought on the up trend. They simply initiated the pump and fanned its flames. Other buyers would buy on the up trend too. Then the initiator does a dump - but they possibly cannot bring the price back down to what it was when the pump started (without making a loss) because they would have to sell more than what they bought.

So why does the price go back to the starting point?

I am waiting for $140. I don't think we will get there.

No it is not. It is either an evo dump or a miner dump or a desperate to get some fiat dump.

It's not a correction.

Exactly. But educational too.

Everyone, please don't focus on what I said about failure. I already think bitcoin is a success. The point of the thread is to show that we benefited in more ways than one.

Bitcoin becoming a global powerhouse is inevitable. It's a train that wont stop.

This place is free comedy!

BTW the price is two steps forward and one step back. Averaging $5 dollars a week in increase. At this rate we will hit $450 by the end of the year.

If Bitcoin goes on to fail (which is very very unlikely) we can still say that we were entertained and educated.

So many memorable things have occurred in the world of Bitcoin. I am not an early adopter like some of you so I don't know what you found most exciting in the early days - however for me the most entertaining thing was the whole Dorian fiasco. So many other exciting things can be spoken about. Being a bitcoiner is like watching and taking part in a long movie.

The knowledge that I have gained has also been very valuable. I now have a MUCH better understanding of the financial system and related matters.

It never goes back down to the staring point.

Maybe he can afford to lose it.

Not necessarily. Early miners with thousands of coins are not necessarily good traders.

Do you this they may have gambler's type of of psychology? Some of these recent sharp dumps seem to be more downward than they amount they could have pumped. I get the impression that some are just gambling again and again and losing out.

I do think these dumps are pushing some guys away from btc and thus having a bad affect on the price. The whales would do better to just let things grow. After the recent dumps the growth rate has suffocated.

For all of us holders and non-holders, an organic rise in the price would be beneficial. A steady rise will only bring in new holders and users. However these pumps and dumps really delay a slow rise and they put people off adoption.

Would is not benefit the whales more just to hold rather than keep putting people off with their dumps?

If this is evolution then we are going well down.

What is wrong with you? I believe in bitcoin. I cant see myself converting my coins to fiat ever. I want it to dominate the world.

Just because I have doubts over the exchange price doesn't mean I am pro-fiat! Also I do believe that merchant adoption needs to be balanced with other things i.e incentives to buy BTC.

I think you may be displeased with how I reacted to some of your so-called incentives for adoption. I think there are much better ways than what you have suggested.

It's harming the price. A new merchant comes in then old time bitcoiners start buying stuff.

Joking aside, we need to promote not just merchant adoption but also ways for companies to pay by btc.

Maybe the person in charge is a holder?

If this happens in other parts of the world then moon is guaranteed.