Oil and bitcoin

[coinzat]

As you know, The Oil prices has declined these days to its lowest level.
Do you think that this can affect the btc price ?
can it help bitcoin or bring more investors to the btc market ?

[n0ne]

As you know, The Oil prices has declined these days to its lowest level.
Do you think that this can affect the btc price ?
can it help bitcoin or bring more investors to the btc market ?

The oil price has been facing a great fall. This has major impact over the oil mining countries, mainly the east asian countries. The bitcoin users were very less in these countries. So it won't cause much in bitcoin price.

[randy8777]

As you know, The Oil prices has declined these days to its lowest level.
Do you think that this can affect the btc price ?
can it help bitcoin or bring more investors to the btc market ?

i don't think the declining oil price will bring investors to bitcoin as the oil investors are totally different. it's very difficult to get a traditional investor to invest in bitcoin. right now the only thing that can affect the price is the block size issue. the block halving also but it is already affecting the price.

[MedaR]

Bitcoin and oil have nothing in common-two different world, and oil Investors will not come to Bitcoin, this is wrong perception. Don't count on oil money he will stay in oil or in gold.
Bitcoin is very small player right now, and maybe in future can be pair with oil or with gold.

[jacee]

Oil price has really nothing to do with bitcoin. The oil price fall because of the productions on the oil countries. Sooner the price will regain it's thread again as I have heard some rumours that these countries will held production. Anyway, bitcoin will not be affected by it. Oil is a commodity, bitcoin is a currency.

[Kprawn]

Oil price has really nothing to do with bitcoin. The oil price fall because of the productions on the oil countries. Sooner the price will regain it's thread again as I have heard some rumours that these countries will held production. Anyway, bitcoin will not be affected by it. Oil is a commodity, bitcoin is a currency.

Bitcoin can be a commodity too.. The currency aspect of Bitcoin is just a token for value. The value stored in Bitcoin can be traded as a commodity. The investors in

oil companies or refineries could see Bitcoin as a safe haven and buy some to hedge against the oil price. There are no direct link between oil and Bitcoin, but investors

in either of the two have the option to trade between the two. If one of them struggle, they might opt out to buy something else.

[criptix]

there are actually two links i can instantly think of:

1) oil -> energy -> bitcoin (mining)

2) falling oil price means that the consumer (should) have more money and could spend it on bitcoins

[NorrisK]

there are actually two links i can instantly think of:

1) oil -> energy -> bitcoin (mining)

2) falling oil price means that the consumer (should) have more money and could spend it on bitcoins

This was my first thought as well.

The falling oil price greatly impacts the cost of energy around the world. Even my energy prices are already around 18 cents from 23 cents last year. This alone will greatly impact the ROI on mining and potentially bitcoin price (less coins need to be sold to break even).

Also number 2 is a solid point, as cheaper oil basically reduces the cost of most products due to lower transportation costs. People will end up with more money left every month that can be potentially spend on bitcoin.

[bajing]

oil price up or down it doesn't affect to bitcoin price and i don't know if global economic crisis will affect to bitcoin price or not but if economic global crisis oil price will slide down.

[Amph]

maybe some smart investor that follow bitcoin and were playing with oil could jump in, but there is a 100% direct correlation between the fall of one and the rise of another

[Raimonn]

In my opinion oil prices don't have direct impact to bitcoin prices. Oil investors are normaly big whales, very different that bitcoin investors most of them small investors. But with low oil prices we would have lower energy prices, we will spend less money on fuel, and we could have more money to buy bitcoins.

[plost24]

i think oil and bitcoin are separated from each other but the oil price is down so i hope bitcoin price will raise and will not follow oil price

[Zeke2345]

Bitcoin and oil have nothing in common-two different world, and oil Investors will not come to Bitcoin, this is wrong perception. Don't count on oil money he will stay in oil or in gold.
Bitcoin is very small player right now, and maybe in future can be pair with oil or with gold.

You can tie many things together and find a aspect that may look to be profitable. In Canada our whole being right now is Oil and how it
screws with the economy. So if Oil goes up,so does the economy and I see that coming around and altering bitcoin price.
Bitcoin may be small but it still ebbs and flows due to daily news in the economic sense.

Think the point about bringing in investors is more about people looking for different aspects they can take advantage of when other markets are looking suspect. You are right to state Oil and Gold people will stay in those markets but they could also dabble in bitcoin and that would increase the price alone.

[SimplisticStu]

Bitcoin and oil have nothing in common-two different world, and oil Investors will not come to Bitcoin, this is wrong perception. Don't count on oil money he will stay in oil or in gold.
Bitcoin is very small player right now, and maybe in future can be pair with oil or with gold.

You can tie many things together and find a aspect that may look to be profitable. In Canada our whole being right now is Oil and how it
screws with the economy. So if Oil goes up,so does the economy and I see that coming around and altering bitcoin price.
Bitcoin may be small but it still ebbs and flows due to daily news in the economic sense.

Think the point about bringing in investors is more about people looking for different aspects they can take advantage of when other markets are looking suspect. You are right to state Oil and Gold people will stay in those markets but they could also dabble in bitcoin and that would increase the price alone.

A bit like the Winklevoss twins with the Gemini exchange?

[Zeke2345]

Bitcoin and oil have nothing in common-two different world, and oil Investors will not come to Bitcoin, this is wrong perception. Don't count on oil money he will stay in oil or in gold.
Bitcoin is very small player right now, and maybe in future can be pair with oil or with gold.

You can tie many things together and find a aspect that may look to be profitable. In Canada our whole being right now is Oil and how it
screws with the economy. So if Oil goes up,so does the economy and I see that coming around and altering bitcoin price.
Bitcoin may be small but it still ebbs and flows due to daily news in the economic sense.

Think the point about bringing in investors is more about people looking for different aspects they can take advantage of when other markets are looking suspect. You are right to state Oil and Gold people will stay in those markets but they could also dabble in bitcoin and that would increase the price alone.

A bit like the Winklevoss twins with the Gemini exchange?

Was meaning more in actually buying bitcoin and holding it. Was not thinking of anything else to be honest about that point when I wrote it.
Woud think it is hard for the every day investor to start exchanges.

[gkv9]

There does seem possibility of investors to get their funds out of Oil and might invest in BTC seeing many factors affecting the price of BTC to increase these days, as Oil is getting dumped to its lowest, there is something fishy going on behind the scenes with this Oilish thing...

[Newmba]

I don't see Bitcoin being used to back anything anytime soon, we have to be realistic