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Author Topic: Reasons for a possible BTC price decline?  (Read 1469 times)
Mickeyb
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December 15, 2015, 10:05:39 AM
 #21

What are some of the main reasons that may put Bitcoin in danger and have a terrible effect in its price?

please comment!

Definitely a major exchange getting hacked! Also some misunderstandings of the lead devs as we have seen with the XT but I doubt we will see any more situations like that in the near future!

As for the Bitcoin protocol, I think that the protocol is safe and proven as it can be!
chennan
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December 15, 2015, 12:41:28 PM
 #22

If Craig was to be Satoshi and dumped all of his coins that would be a hard blow. Besides, that would mean that all the bitcoin project had been a Ponzi scheme all along.

 
 
You goober. 
 
Even if Craig were Satoshi (he's not), and he came out and said, "Fuck everyone, I hate you all, I'm selling all my Bitcoins and going to finance the white power movement." then get this: Bitcoin would still function just the same as it always did!
 
Would the price crash?  Sure.  But it would still be the original and most popular financial crypto-network.  Nothing changes. 
 
That's the beauty of Bitcoin - no one can stop it, not even the original creator.

You're definitely right, and hopefully if this very unlikely scenario were to happen, then hopefully Satoshi would have the descency to put his coins up on multiple exchange websites for everyone to have a chance at owning them. If the real Satoshi wanted to go full on "fuck you" mode, he would put his coins up for auction which would probably get a stupid high premium on them because these bitcoins are exceptionally rare... Which brings us to the fungibility issue again. Since these coins can be traced back to the birth of Bitcoin itself, people see these coins as more valuable since it hasn't touched any other wallets/scam sites/mixers/etc. I think this would cause more of an issue and hence a decline in price.

randy8777
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December 15, 2015, 02:02:31 PM
 #23

hacked exchanges is what people make sell their coins causing the price to crash. especially when the larger exchange states that its cold wallets were stolen. that's when things start to get real messy.
Supercrypt
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December 15, 2015, 02:08:48 PM
 #24

What are some of the main reasons that may put Bitcoin in danger and have a terrible effect in its price?

please comment!

Definitely a major exchange getting hacked! Also some misunderstandings of the lead devs as we have seen with the XT but I doubt we will see any more situations like that in the near future!

As for the Bitcoin protocol, I think that the protocol is safe and proven as it can be!

You mean like MTGox, another exchange too may face a similar issue? I doubt but that also is possible as after the news came out, other exchangers like Gemini are taking extra care. Dumping seems to be a major concern as of now.
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December 15, 2015, 03:43:35 PM
 #25

I certainly hope current exchanges take note of past incidents that happened to exchanges that went bankrupt by accident (remember one incident that the CEO was scammed to transfer a huge amount of coins via phone only to realised he was scammed afterwards) or engineered collapsed or security incidents such as server hacked.

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December 16, 2015, 05:08:43 AM
 #26

What are some of the main reasons that may put Bitcoin in danger and have a terrible effect in its price?

please comment!

Definitely a major exchange getting hacked! Also some misunderstandings of the lead devs as we have seen with the XT but I doubt we will see any more situations like that in the near future!

As for the Bitcoin protocol, I think that the protocol is safe and proven as it can be!

The big names such as microsoft, oracle should form a tech consortium to explore, develop the ledger and protocol further.

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Rizky Aditya
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December 16, 2015, 08:27:26 AM
 #27

The only option that I can think of, is if the internet goes down across the whole world. That would only bring it down like $30-$50 anyway.
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December 16, 2015, 10:25:56 AM
 #28

EU writes laws regulating Bitcoin (by intent, or by "badly written law that ends up being TOO restrictive" like has happened so often in the past by well-intentioned lawmakers) to the point it's almost unusable.

 Other areas do the same - or outright ban Bitcoin (but I don't see a deliberate outright ban being likely, even China seems to have realised that THEY are making a ton off of it given how many Bitcoin manufacturers AND FARMS are China based).


 Internet "bubble" syndrome.

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