sn_ppcoin (OP)
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September 16, 2012, 06:20:43 AM |
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would qe3 increase the price of bitcoin?
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Bitmono
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September 16, 2012, 07:25:01 AM |
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The price is still going up.
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Dagger75
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September 17, 2012, 10:15:35 AM |
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Yeah, i definitely think it will increase the value of BTC. Bitcoins are a worldwide currency and w/ QE3 effectively lowering the value of the USD, BTC along w/ other currencies will go up in value when traded against the USD. Atleast that is my pov and it stands to reason as the USD is still a Major ,if not the most important, world currency.
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Gabi
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September 17, 2012, 10:51:10 AM |
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Yes
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shamoons
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September 17, 2012, 11:37:58 AM |
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What is QE3?
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sadpandatech
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September 17, 2012, 11:52:51 AM |
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If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system.
- GA
It is being worked on by smart people. -DamienBlack
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btctrade5500
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September 17, 2012, 12:23:22 PM |
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Looking at the weekly charts, it seems a slowdown of the USD price per coin, is happening. This is independent of QE3 observations. QE3 would dilute and devalue the dollar even more, which would theoretically boost up USD/BTC, in addition to natural demand for bitcoins
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Kazimir
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September 17, 2012, 02:38:57 PM |
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What is QE3? Phase 3 of Quantitative Easing (aka blowing up the fiat currency bubble even further) |
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Kazimir
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September 17, 2012, 02:40:41 PM |
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I doubt whether it will increase the value of Bitcoin per se, but it will most certainly decrease the value of the US Dollar, thus also the price of Bitcoin in terms of US $ per BTC.
In Europe, similar shit is happening with the Euro.
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shamoons
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September 17, 2012, 02:44:30 PM |
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What is QE3? Phase 3 of Quantitative Easing (aka blowing up the fiat currency bubble even further) Holy snap! Of COURSE this will impact the price of bitcoins - as well as any other dollar-independent instrument! |
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Jermainé
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September 17, 2012, 03:03:43 PM |
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yeah after bernakey made the anouncement the price went up .5 "ish"
though it seems to be coming back down now.
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JMAHH
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September 17, 2012, 03:10:59 PM |
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I disagree with the consensus.
Will QE3 itself increase the Bitcoin price?
I think the effect will be very subdued, if at all. Business cycle theory proposes that most of the money injected by the government passes through banks, which then loan it out to investors. Through these investments, loans eventually increase. However a certain amount of time will have passed by then, and I think effects on Bitcoin/USD are likely to be minimal [in the short term].
Will news of QE3 cause appreciation?
Much more likely. On a psychological level, if people hear about more money coming in, they will also be tempted to buy more. Another - different - aspect is that many Bitcoin users are familiar with the many downsides of Keynesian theory and might expect others to cause an appreciation in the Bitcoin rate in the future - so they buy themselves now. Etc.
My two cents...
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evoorhees
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Democracy is the original 51% attack
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September 17, 2012, 04:51:19 PM |
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Long term, every debasement of Bitcoin's competitors increases the relative value of Bitcoin. However, this effect is not going to be witnessed amid the daily/weekly/monthly moves of Bitcoin's volatile market.
There is still too much "noise" in the Bitcoin price movements to see correlations between macro economic events on the world stage.
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VogueBlackheart
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September 17, 2012, 05:05:59 PM |
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Long term, every debasement of Bitcoin's competitors increases the relative value of Bitcoin. However, this effect is not going to be witnessed amid the daily/weekly/monthly moves of Bitcoin's volatile market.
There is still too much "noise" in the Bitcoin price movements to see correlations between macro economic events on the world stage.
evoorhees, hello. I was just making some posts to finally end my newbie status so I'd stop missing the chance to participate in great convos. I will dedicate my 5th to you, as I've seen you all over these boards, demonstrating an excellent understanding of economics. I anticipate we will engage in riveting discussion at some point and I also like your hat. OP: While established Bitcoin users certainly trade on current events, a lot of entry is still incidental to when someone 1) hears of Bitcoin, and 2) hits the level of interest/understanding/confidence at which they commit to a purchase. I would agree that the latter is probably the strongest driver of the exchange rate prices at the moment. |
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sippsnapp
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September 17, 2012, 05:08:29 PM |
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I doubt whether it will increase the value of Bitcoin per se, but it will most certainly decrease the value of the US Dollar, thus also the price of Bitcoin in terms of US $ per BTC.
In Europe, similar shit is happening with the Euro.
This exactly. |
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September 20, 2012, 04:45:56 PM |
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