I am pretty confident we are the new wealthy elite, gentlemen.

[wesk1212]

Hope we have a good week this week.

What would a "good week" be like?

$10,000 by Friday.

You saw it here folks.

Bitpool. A shitty idea to begin with

[cr1776]

http://oneyearbitcoin.info

Looks like 55% positive over the last year.  

A ton more over 2, 3, and 4 years.

It is important to keep some perspective.  Early 2013 people were scoffing at the notion of hitting $50, let alone over $1000.  Anything is possible.  

Transaction volume is roughly twice what it was last year, every day more and more people learn about bitcoin's uses.  Side-chains will be ground-breaking, ETF etc.

Very amusing.

What you fail to notice is the fact that BTC is in a slow descent, with no bottom in sight.

Let's talk through the scenario, BTC keeps dropping (down 49% since July 3rd) that's more than 10% a month.

In response to that what is happening?

People spending their BTC? NO!

People selling their BTC? YES!

People continuing to hoard BTC waiting for it to come back? YES!

People mining any great quantity of BTC on their own? NO!

People cloud mining making tiny BTC profits? YES!

These things above never change and if they don't then BTC will be $150 in 4 months, then it becomes cost prohibitive for anyone but the huge farms like KNC to mine.

By June BTC will be down in the double digits ($85ish) and no one will be interested in it any longer.

You heard it here.

[WaterEffect]

http://oneyearbitcoin.info

Looks like 55% positive over the last year.  

A ton more over 2, 3, and 4 years.

It is important to keep some perspective.  Early 2013 people were scoffing at the notion of hitting $50, let alone over $1000.  Anything is possible.  

Transaction volume is roughly twice what it was last year, every day more and more people learn about bitcoin's uses.  Side-chains will be ground-breaking, ETF etc.

Very amusing.

What you fail to notice is the fact that BTC is in a slow descent, with no bottom in sight.

Let's talk through the scenario, BTC keeps dropping (down 49% since July 3rd) that's more than 10% a month.

In response to that what is happening?

People spending their BTC? NO!

People selling their BTC? YES!

People continuing to hoard BTC waiting for it to come back? YES!

People mining any great quantity of BTC on their own? NO!

People cloud mining making tiny BTC profits? YES!

These things above never change and if they don't then BTC will be $150 in 4 months, then it becomes cost prohibitive for anyone but the huge farms like KNC to mine.

By June BTC will be down in the double digits ($85ish) and no one will be interested in it any longer.

You heard it here.

Thanks for bring to our attention that it isn't as bad as it seems it seems the community is losing hope and thats the last thing we need.

[PurpleHorse]

Everyone needs to quite complaining & buy some more Bitcoin.

[BitChick]

Everyone needs to quite complaining & buy some more Bitcoin.

Welcome Newbie. 

I agree.  Buy more BTC! 

[misterpressman]

Hope we have a good week this week.

What would a "good week" be like?

$10,000 by Friday.

You saw it here folks.

Maybe that will happen in your dreams.. And maybe my dream too.

[Kakmakr]

At the rate I am going, I will stay one of the poor ^Sniff^

It's been a year and I have not even accumalated 1 Bitcoin. ^Cry^

[Lethn]

Same for me as well, but I'm not giving up, I have a number of projects in the work that should make me some money one way or the other.

[JayJuanGee]

No, we're not. Not yet. Until we get rid of the greedy scammers and the scum. And until the greedy people stop being greedy. But that's never gonna happen.

The more money there is in bitcoin (i mean as the price of bitcoin goes up), the more motivations that there are for scammers to figure out ways to exploit various weaknesses in bitcoin (whether that is taking transactions off the blockchain or some other schemes to obtain the bitcoins of others).

You mean like all the ASIC companies and the thousands of miners who got robbed blind by pre-order scams? How about the half a billion dollars in coins Empty Gox made disappear? First Pirate Savings & Trust?

There are a lot of examples, and yes, you are correct that examples go back to times in which bitcoins were NOT worth very much - however, many of us must admit that there has been increased awareness and security measures for securing bitcoins - nonetheless, my main point(s) seems to be that incentives to employ various scandals goes up as the value of BTC goes up - yet, even if the value is low, there still could be opportunity to engage in scandals.

[JayJuanGee]

Very amusing.

What you fail to notice is the fact that BTC is in a slow descent, with no bottom in sight.

Let's talk through the scenario, BTC keeps dropping (down 49% since July 3rd) that's more than 10% a month.

In response to that what is happening?

People spending their BTC? NO!

People selling their BTC? YES!

People continuing to hoard BTC waiting for it to come back? YES!

People mining any great quantity of BTC on their own? NO!

People cloud mining making tiny BTC profits? YES!

These things above never change and if they don't then BTC will be $150 in 4 months, then it becomes cost prohibitive for anyone but the huge farms like KNC to mine.

By June BTC will be down in the double digits ($85ish) and no one will be interested in it any longer.

You heard it here.

Seems like you've lost your drive & hunger for Bitcoin....what you don't understand is Bitcoin isn't just about how much it's worth. It's a concept which at the moment is suceeding maybe not on a huge level but if someone told you about this new concept 6 years ago and said within this amount of time it would reach highs of $1000 you would of laughed.
All it takes at the moment is a whale to delve into Bitcoin and spend a huge amount which will raise the value and bring more attention from media which means more people will be interested in Bitcoin....or we have a major hack again or something similar of nature which would again bring media attention which would be seen by millions & again even though it's bad news many more people will of heard of Bitcoin and will search up on it.
You might be right it dropping down to double digits...but your not right on people not buying...a huge lot of people are buying Bitcoin. What I think is happening is a lot of people are using the payment processor bitpay which sells their Bitcoin for fiat as soon as they recieve it which decreases the value of Bitcoin. If people stop using bitpay & similar companies then we should see a rise again. Everyone thought bitpay was a great company but in actual facts it's damagining the Bitcoin value & community in general. There are a number of other major factors like more sell orders than buy order but thats obvious & talked about far more often than the point I brought up.

Pissedoff:   I agree with some of your assessment, but NOT all of it.

Personally, I believe what is causing the price to go down is manipulation, and there are some that want to continue to push the prices of BTC down so that they can continue to accumulate and at some point (maybe 1 month from NOW or maybe 6 months or possibly longer), there will be attempts to manipulate in the opposite (upwards direction)... One large whale would be within his/her power to manipulate the price upwards into the $3k to $5k territory, b/c was the price starts to go upward, there will be other whales ready and willing to jump on board.

Really, bitpay and similar are good for bitcoin because they cause liquidation opportunities - which people need to have in order to have additional confidence in BTC when prices go to the next upward level.   Surely, if people are NOW using bitpay and similar to liquidate and they are NOT replacing their coins, then surely, you are correct that those services are merely being used to sell coins... but really, I doubt that those services of bitpay and similar are what really is causing downward price pressures... you can watch the market and see that the downward pressure comes from the purposeful and strategic attempts to dump large quantities of coins on exchanges, and while that conduct remains profitable, that exchange dumping conduct is going to continue.

Additionally, some of these dumpers are accumulating coins on the sly.. so that they will have plenty of coins when the time comes for the upward momentum.

[BohemianStalker]

Dont forget

http://oneyearbitcoin.info/

[joeventura]

Very amusing.

What you fail to notice is the fact that BTC is in a slow descent, with no bottom in sight.

Let's talk through the scenario, BTC keeps dropping (down 49% since July 3rd) that's more than 10% a month.

In response to that what is happening?

People spending their BTC? NO!

People selling their BTC? YES!

People continuing to hoard BTC waiting for it to come back? YES!

People mining any great quantity of BTC on their own? NO!

People cloud mining making tiny BTC profits? YES!

These things above never change and if they don't then BTC will be $150 in 4 months, then it becomes cost prohibitive for anyone but the huge farms like KNC to mine.

By June BTC will be down in the double digits ($85ish) and no one will be interested in it any longer.

You heard it here.

Seems like you've lost your drive & hunger for Bitcoin....what you don't understand is Bitcoin isn't just about how much it's worth. It's a concept which at the moment is suceeding maybe not on a huge level but if someone told you about this new concept 6 years ago and said within this amount of time it would reach highs of $1000 you would of laughed.
All it takes at the moment is a whale to delve into Bitcoin and spend a huge amount which will raise the value and bring more attention from media which means more people will be interested in Bitcoin....or we have a major hack again or something similar of nature which would again bring media attention which would be seen by millions & again even though it's bad news many more people will of heard of Bitcoin and will search up on it.
You might be right it dropping down to double digits...but your not right on people not buying...a huge lot of people are buying Bitcoin. What I think is happening is a lot of people are using the payment processor bitpay which sells their Bitcoin for fiat as soon as they recieve it which decreases the value of Bitcoin. If people stop using bitpay & similar companies then we should see a rise again. Everyone thought bitpay was a great company but in actual facts it's damagining the Bitcoin value & community in general. There are a number of other major factors like more sell orders than buy order but thats obvious & talked about far more often than the point I brought up.

Pissedoff:   I agree with some of your assessment, but NOT all of it.

Personally, I believe what is causing the price to go down is manipulation, and there are some that want to continue to push the prices of BTC down so that they can continue to accumulate and at some point (maybe 1 month from NOW or maybe 6 months or possibly longer), there will be attempts to manipulate in the opposite (upwards direction)... One large whale would be within his/her power to manipulate the price upwards into the $3k to $5k territory, b/c was the price starts to go upward, there will be other whales ready and willing to jump on board.

Really, bitpay and similar are good for bitcoin because they cause liquidation opportunities - which people need to have in order to have additional confidence in BTC when prices go to the next upward level.   Surely, if people are NOW using bitpay and similar to liquidate and they are NOT replacing their coins, then surely, you are correct that those services are merely being used to sell coins... but really, I doubt that those services of bitpay and similar are what really is causing downward price pressures... you can watch the market and see that the downward pressure comes from the purposeful and strategic attempts to dump large quantities of coins on exchanges, and while that conduct remains profitable, that exchange dumping conduct is going to continue.

Additionally, some of these dumpers are accumulating coins on the sly.. so that they will have plenty of coins when the time comes for the upward momentum.

What is causing the slump is people are dollar cost averaging out, everyone is saying the transactions are up, that's because everyone is selling. Those are transactions.

Bitcoin is very different from Gold for example, the cost and difficulty to mine gold is pretty static. If the cost to pull an ounce of gold out of the ground is $300,
when gold hits $299 they stop mining gold, when they start back up the cost is still $300

With bitcoin, when the price of mining a bitcoin drops below what it cost in electricity and equipment to mine one, people will mostly stop,
When they start up again the cost to mine a bitcoin will be higher than when they stopped.

The overarching problem is that bitcoin users are not savvy investors, they panic sell and hardly ever buy low.
Therefore the overwhelming majority will watch BTC go down to $50 and walk away and never look back, on to the next new thing.

Then companies like Bitpay and Coinbase will be stuck with hundreds of thousands of near worthless BTC.
There is no fed to sell your BTC back to, so many will be left holding the bag.

If Paypal does not announce that they will utilize BTC in their model before the Christmas holidays, then we will see $80 BTC by the summer. Then everyone will sit on them, never to return.

[vvv8]

Very amusing.

What you fail to notice is the fact that BTC is in a slow descent, with no bottom in sight.

Let's talk through the scenario, BTC keeps dropping (down 49% since July 3rd) that's more than 10% a month.

In response to that what is happening?

People spending their BTC? NO!

People selling their BTC? YES!

People continuing to hoard BTC waiting for it to come back? YES!

People mining any great quantity of BTC on their own? NO!

People cloud mining making tiny BTC profits? YES!

These things above never change and if they don't then BTC will be $150 in 4 months, then it becomes cost prohibitive for anyone but the huge farms like KNC to mine.

By June BTC will be down in the double digits ($85ish) and no one will be interested in it any longer.

You heard it here.

Seems like you've lost your drive & hunger for Bitcoin....what you don't understand is Bitcoin isn't just about how much it's worth. It's a concept which at the moment is suceeding maybe not on a huge level but if someone told you about this new concept 6 years ago and said within this amount of time it would reach highs of $1000 you would of laughed.
All it takes at the moment is a whale to delve into Bitcoin and spend a huge amount which will raise the value and bring more attention from media which means more people will be interested in Bitcoin....or we have a major hack again or something similar of nature which would again bring media attention which would be seen by millions & again even though it's bad news many more people will of heard of Bitcoin and will search up on it.
You might be right it dropping down to double digits...but your not right on people not buying...a huge lot of people are buying Bitcoin. What I think is happening is a lot of people are using the payment processor bitpay which sells their Bitcoin for fiat as soon as they recieve it which decreases the value of Bitcoin. If people stop using bitpay & similar companies then we should see a rise again. Everyone thought bitpay was a great company but in actual facts it's damagining the Bitcoin value & community in general. There are a number of other major factors like more sell orders than buy order but thats obvious & talked about far more often than the point I brought up.

Pissedoff:   I agree with some of your assessment, but NOT all of it.

Personally, I believe what is causing the price to go down is manipulation, and there are some that want to continue to push the prices of BTC down so that they can continue to accumulate and at some point (maybe 1 month from NOW or maybe 6 months or possibly longer), there will be attempts to manipulate in the opposite (upwards direction)... One large whale would be within his/her power to manipulate the price upwards into the $3k to $5k territory, b/c was the price starts to go upward, there will be other whales ready and willing to jump on board.

Really, bitpay and similar are good for bitcoin because they cause liquidation opportunities - which people need to have in order to have additional confidence in BTC when prices go to the next upward level.   Surely, if people are NOW using bitpay and similar to liquidate and they are NOT replacing their coins, then surely, you are correct that those services are merely being used to sell coins... but really, I doubt that those services of bitpay and similar are what really is causing downward price pressures... you can watch the market and see that the downward pressure comes from the purposeful and strategic attempts to dump large quantities of coins on exchanges, and while that conduct remains profitable, that exchange dumping conduct is going to continue.

Additionally, some of these dumpers are accumulating coins on the sly.. so that they will have plenty of coins when the time comes for the upward momentum.

What is causing the slump is people are dollar cost averaging out, everyone is saying the transactions are up, that's because everyone is selling. Those are transactions.

Bitcoin is very different from Gold for example, the cost and difficulty to mine gold is pretty static. If the cost to pull an ounce of gold out of the ground is $300,
when gold hits $299 they stop mining gold, when they start back up the cost is still $300

With bitcoin, when the price of mining a bitcoin drops below what it cost in electricity and equipment to mine one, people will mostly stop,
When they start up again the cost to mine a bitcoin will be higher than when they stopped.

The overarching problem is that bitcoin users are not savvy investors, they panic sell and hardly ever buy low.
Therefore the overwhelming majority will watch BTC go down to $50 and walk away and never look back, on to the next new thing.

Then companies like Bitpay and Coinbase will be stuck with hundreds of thousands of near worthless BTC.
There is no fed to sell your BTC back to, so many will be left holding the bag.

If Paypal does not announce that they will utilize BTC in their model before the Christmas holidays, then we will see $80 BTC by the summer. Then everyone will sit on them, never to return.

GET A CLUE

[joeventura]

Very amusing.

What you fail to notice is the fact that BTC is in a slow descent, with no bottom in sight.

Let's talk through the scenario, BTC keeps dropping (down 49% since July 3rd) that's more than 10% a month.

In response to that what is happening?

People spending their BTC? NO!

People selling their BTC? YES!

People continuing to hoard BTC waiting for it to come back? YES!

People mining any great quantity of BTC on their own? NO!

People cloud mining making tiny BTC profits? YES!

These things above never change and if they don't then BTC will be $150 in 4 months, then it becomes cost prohibitive for anyone but the huge farms like KNC to mine.

By June BTC will be down in the double digits ($85ish) and no one will be interested in it any longer.

You heard it here.

Seems like you've lost your drive & hunger for Bitcoin....what you don't understand is Bitcoin isn't just about how much it's worth. It's a concept which at the moment is suceeding maybe not on a huge level but if someone told you about this new concept 6 years ago and said within this amount of time it would reach highs of $1000 you would of laughed.
All it takes at the moment is a whale to delve into Bitcoin and spend a huge amount which will raise the value and bring more attention from media which means more people will be interested in Bitcoin....or we have a major hack again or something similar of nature which would again bring media attention which would be seen by millions & again even though it's bad news many more people will of heard of Bitcoin and will search up on it.
You might be right it dropping down to double digits...but your not right on people not buying...a huge lot of people are buying Bitcoin. What I think is happening is a lot of people are using the payment processor bitpay which sells their Bitcoin for fiat as soon as they recieve it which decreases the value of Bitcoin. If people stop using bitpay & similar companies then we should see a rise again. Everyone thought bitpay was a great company but in actual facts it's damagining the Bitcoin value & community in general. There are a number of other major factors like more sell orders than buy order but thats obvious & talked about far more often than the point I brought up.

Pissedoff:   I agree with some of your assessment, but NOT all of it.

Personally, I believe what is causing the price to go down is manipulation, and there are some that want to continue to push the prices of BTC down so that they can continue to accumulate and at some point (maybe 1 month from NOW or maybe 6 months or possibly longer), there will be attempts to manipulate in the opposite (upwards direction)... One large whale would be within his/her power to manipulate the price upwards into the $3k to $5k territory, b/c was the price starts to go upward, there will be other whales ready and willing to jump on board.

Really, bitpay and similar are good for bitcoin because they cause liquidation opportunities - which people need to have in order to have additional confidence in BTC when prices go to the next upward level.   Surely, if people are NOW using bitpay and similar to liquidate and they are NOT replacing their coins, then surely, you are correct that those services are merely being used to sell coins... but really, I doubt that those services of bitpay and similar are what really is causing downward price pressures... you can watch the market and see that the downward pressure comes from the purposeful and strategic attempts to dump large quantities of coins on exchanges, and while that conduct remains profitable, that exchange dumping conduct is going to continue.

Additionally, some of these dumpers are accumulating coins on the sly.. so that they will have plenty of coins when the time comes for the upward momentum.

What is causing the slump is people are dollar cost averaging out, everyone is saying the transactions are up, that's because everyone is selling. Those are transactions.

Bitcoin is very different from Gold for example, the cost and difficulty to mine gold is pretty static. If the cost to pull an ounce of gold out of the ground is $300,
when gold hits $299 they stop mining gold, when they start back up the cost is still $300

With bitcoin, when the price of mining a bitcoin drops below what it cost in electricity and equipment to mine one, people will mostly stop,
When they start up again the cost to mine a bitcoin will be higher than when they stopped.

The overarching problem is that bitcoin users are not savvy investors, they panic sell and hardly ever buy low.
Therefore the overwhelming majority will watch BTC go down to $50 and walk away and never look back, on to the next new thing.

Then companies like Bitpay and Coinbase will be stuck with hundreds of thousands of near worthless BTC.
There is no fed to sell your BTC back to, so many will be left holding the bag.

If Paypal does not announce that they will utilize BTC in their model before the Christmas holidays, then we will see $80 BTC by the summer. Then everyone will sit on them, never to return.

GET A CLUE

Another Newbie heard from.

Soon you will be able to post on other boards.
Where you can spread your valuable one liners with everyone.

[joeventura]

How an economy works.

If you create a currency (print money, mine bitcoin, etc)
and you don't spend any of it, then the currency will lose value until it is worthless.

If you haven't spent any of the Bitcoin that you have mined then you are contributing to its reduction in value.

If I were asked to provide an answer to the question of "What is Economics?" on a test, I'd probably write the following explanation:
"Economics is the study of how individuals and groups make decisions with limited resources as to best satisfy their wants, needs, and desires"

So my question is what are you doing with your BTC to satisfy your wants needs and desires.

If your answer is "I am sitting on it and not spending any of it"

If the majority of people are doing the same then the result is that the Bitcoin economy will wither and die.

If you say "I will let others do that and just wait for the value to go back up"

Then I am here to tell you you are going to be waiting a long time.

[boumalo]

Very amusing.

What you fail to notice is the fact that BTC is in a slow descent, with no bottom in sight.

Let's talk through the scenario, BTC keeps dropping (down 49% since July 3rd) that's more than 10% a month.

In response to that what is happening?

People spending their BTC? NO!

People selling their BTC? YES!

People continuing to hoard BTC waiting for it to come back? YES!

People mining any great quantity of BTC on their own? NO!

People cloud mining making tiny BTC profits? YES!

These things above never change and if they don't then BTC will be $150 in 4 months, then it becomes cost prohibitive for anyone but the huge farms like KNC to mine.

By June BTC will be down in the double digits ($85ish) and no one will be interested in it any longer.

You heard it here.

The price is higher than a year ago

People spending their BTC? YES

More people are involved in Bitcoin than a year ago and way more people have heard of it; the price couldn't sustain 700$+ this year but things change and when the western economical environnement will become very toxic very clearly again the price will rise to new highs, been there done that!

[phillipsjk]

If I were asked to provide an answer to the question of "What is Economics?" on a test, I'd probably write the following explanation:
"Economics is the study of how individuals and groups make decisions with limited resources as to best satisfy their wants, needs, and desires"

Kudos for not trying to claim that wants are unlimited like my economics textbooks.
Reason: Wants also follow the law of diminishing returns.

[JayJuanGee]

Pissedoff:   I agree with some of your assessment, but NOT all of it.

Personally, I believe what is causing the price to go down is manipulation, and there are some that want to continue to push the prices of BTC down so that they can continue to accumulate and at some point (maybe 1 month from NOW or maybe 6 months or possibly longer), there will be attempts to manipulate in the opposite (upwards direction)... One large whale would be within his/her power to manipulate the price upwards into the $3k to $5k territory, b/c was the price starts to go upward, there will be other whales ready and willing to jump on board.

Really, bitpay and similar are good for bitcoin because they cause liquidation opportunities - which people need to have in order to have additional confidence in BTC when prices go to the next upward level.   Surely, if people are NOW using bitpay and similar to liquidate and they are NOT replacing their coins, then surely, you are correct that those services are merely being used to sell coins... but really, I doubt that those services of bitpay and similar are what really is causing downward price pressures... you can watch the market and see that the downward pressure comes from the purposeful and strategic attempts to dump large quantities of coins on exchanges, and while that conduct remains profitable, that exchange dumping conduct is going to continue.

Additionally, some of these dumpers are accumulating coins on the sly.. so that they will have plenty of coins when the time comes for the upward momentum.

What is causing the slump is people are dollar cost averaging out, everyone is saying the transactions are up, that's because everyone is selling. Those are transactions.

Your various analyses seem to be a bit back-asswards to me - as if you are grasping at straws attempting to find various explanations for the price, while at the same time ignoring various obvious and more important facts.

Yes, surely people engage in dollar cost averaging, and maybe even such dollar cost averaging may emphasize buying on the way down and selling on the way up.  In this regard, a lot of the dollar cost average selling would have already taken place a long time ago.  Accordingly, that dollar cost average selling theory does NOT pan out in the real world.

Bitcoin is very different from Gold for example, the cost and difficulty to mine gold is pretty static. If the cost to pull an ounce of gold out of the ground is $300,
when gold hits $299 they stop mining gold, when they start back up the cost is still $300

With bitcoin, when the price of mining a bitcoin drops below what it cost in electricity and equipment to mine one, people will mostly stop,
When they start up again the cost to mine a bitcoin will be higher than when they stopped.

mining is NOT very directly correlated to price.  Surely, there is some correlation; however, there is going to be the same number of bitcoin's produced whether the cost per bitcoin is $1 per BTC or $1,000 per BTC.  The price of bitcoins may cause an incentive for miners to decide whether to hold or to sell in anticipation, also, of what they expect to be the future price.  At the same time, some of these miners may be in positions in which they have to sell, yet miners tend to be amongst the most bullish in their long term predictions of bitcions, so at these current prices, they have inclinations to hold while planning to sell later.  So if miners are selling, they are likely NOT selling large stacks of their holdings.

The overarching problem is that bitcoin users are not savvy investors, they panic sell and hardly ever buy low.
Therefore the overwhelming majority will watch BTC go down to $50 and walk away and never look back, on to the next new thing.

Maybe bitcoin users are NOT sophisticated, but they are learning about bitcoin as we go, and some of them are wanting to increase their BTC holdings to sell and to buy back.   I would NOT necessarily attempt to lump bitcoin holders as being any kind of special creature because a larger culprit in the market is the fact that the BTC market cap is small and it can be manipulated by fairly small players who are willing to put their money on exchanges.  In that regard, it is much easier and faster and cheaper to move BTC onto exchanges than it is to move fiat onto such exchanges.  Good luck, if you believe BTC prices are going into the double digits any time soon.  I would be quite surprised if BTC prices go lower than the $250 to $275 range.....

Never say never in Bitcoinlandia, but seems pretty unlikely that BTC prices will fall that low, absent some fairly catastrophic news - b/c a lot of aspects of the BTC fundamentals remain strong, including adoption and liquidation venues.

Then companies like Bitpay and Coinbase will be stuck with hundreds of thousands of near worthless BTC.
There is no fed to sell your BTC back to, so many will be left holding the bag.

I am sure that those business are sufficiently protected for BTC price fluctuations, and they are continuing to expand and to take some of their profits in dollars.  Coinbase, for example, has recently expanded into about a dozen European countries.  Surely, I do NOT know their financial details, but I would anticipate that they have a decent business model and they seem to be fairly profitable and fairly widely accepted player in the bitcoin services space.

If Paypal does not announce that they will utilize BTC in their model before the Christmas holidays, then we will see $80 BTC by the summer. Then everyone will sit on them, never to return.

Bitcoin prices is also NOT dependent on any one factor or any one player.  Yes, it would be good for bitcoin to obtain further exposure through Paypal, but any NON-occurrence of that one factor is NOT going to be detrimental to bitcoin prices.... there may be other factors or a combination of factors that cause negative pressures on bitcoin prices, though... including the fact that some big players continue to be o.k. with accepting low manipulated btc prices and are continuing to accumulate bitcoins behind the scenes.


So, more likely at some point in the next 1-12 months, we are going to experience incredible upward manipulation and momentum of BTC prices and with this upward price movement, many fiat holders on the sidelines will jump in to attempt to experience profits in the BTC space.

[yraskk]

If bitcoin will go to wall street, we will be the new wealthy elite sir ! Bitcoin price will go at 100.000$ and every people which has a minimum quantity of bitcoin will be very very glad !

[Arriemoller]

"What is causing the slump is people are dollar cost averaging out, everyone is saying the transactions are up, that's because everyone is selling. Those are transactions."



For every seller there is a buyer, you might as well say that everyone is buying.