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Author Topic: To all BTC sellers: 1 BTC = 1000 USD April 9, 2013 16:00 UTC  (Read 6703 times)
pvz
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April 02, 2013, 01:31:51 PM
 #1

Edit: Added a poll because I am very curious what 'the bitcoin community' thinks what a stable price would be: https://bitcointalk.org/index.php?topic=165166.0

Price stability and predictability are the main factor for a wide acceptance and adoption of bitcoin.

To manage the market price, Bitcoin does not have the influence from a central authority like Federal Reserve or European Central Bank.
The Bitcoin Community has no need for a central authority.

The Bitcoin system cannot affect the bitcoin market price with interest rates or changing the number of bitcoins produced. This is fixed.

Did you know the Bitcoin Community has the ability and tools for a stable bitcoin price?

In order to have a stable and predictable price we need:
  • mass for stability (limited fluctuation)
  • consensus for predictability (clear path)

The Bitcoin Community is able to set the bitcoin price.
We set the price.
We set stability.

How?
That is simple:

BTC sellers: don't sell for less than $1000
You'r in?
Quite simple. I'm in! (click here)

With your support the bitcoin price will be more stable and predictable.
With your support we create trust.
Trust in bitcoin assures broad acceptance and use of bitcoin.

bitcoinmarketprice.org
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tkbx
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April 02, 2013, 01:38:11 PM
 #2

There's a word for this, it's called "price fixing". Luckily, you'll never get the entire Internet to go along with this.
pvz
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April 02, 2013, 01:52:00 PM
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There's a word for this, it's called "price fixing". Luckily, you'll never get the entire Internet to go along with this.
Price fixing is enforced.
This is a initiative to stabilize the price, not fixing the price.
You are right: with bitcoin it is not possible to fix the price.

If the price is not stable and fluctuates (at this time), it attracts bots, gamblers and hedge funds.

The Bitcoin Community does have a choice, or just let it happen.
tutkarz
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April 02, 2013, 01:54:00 PM
 #4

This is actually good idea to do: if you want to sell do it for $1000 and if you want to buy you have fixed price. Only problem is that it cant be paired to US dollars because they are printing them all the time.

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April 02, 2013, 01:54:32 PM
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As long as mining is profitable there will always be someone willing to sell quicker for less... it's called free market, I think Wink
tutkarz
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April 02, 2013, 02:03:01 PM
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As long as mining is profitable there will always be someone willing to sell quicker for less... it's called free market, I think Wink

great but if we all agree that its worth $1000 then why they want to sell for $100? They dont want money or what.

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April 02, 2013, 02:06:34 PM
 #7

great but if we all agree that its worth $1000 then why they want to sell for $100? They dont want money or what.
You are right, it is about acting as a bitcoin community.
Together promoting bitcoin and make this work.
tutkarz
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April 02, 2013, 02:18:56 PM
 #8

Bitcoin is great tool but now we have to prove we are mature enough to use it.

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April 02, 2013, 02:24:00 PM
 #9

If everyone, or almost everyone, took this pledge, sellers would disappear and new money would not be able to enter the market. And we would all have to stop spending our coins since no merchant will base their prices on $1000/coin if they can't sell for that rate to replenish their stock. This solution would turn bitcoin into a club for insiders only, and ultimately kill it.

Please don't.
pvz
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April 02, 2013, 02:28:57 PM
 #10

If everyone, or almost everyone, took this pledge, sellers would disappear and new money would not be able to enter the market. And we would all have to stop spending our coins since no merchant will base their prices on $1000/coin if they can't sell for that rate to replenish their stock. This solution would turn bitcoin into a club for insiders only, and ultimately kill it.

Please don't.
At this moment the demand for bitcoin is to high. That is why the price rises so quickly.
I would like to have your merchant introduced to bitcoin because he is able to stabilize the price.
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April 02, 2013, 02:31:31 PM
 #11

It's a really bad idea. I think wormbog have right.

So... Don't do it, for the future of bitcoin Smiley

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April 02, 2013, 02:37:58 PM
 #12

I disagree and feel like this is not inline with the bitcoin community workings.  Just my opinion only though, you opinion is equally as valid.

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pvz
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April 02, 2013, 02:41:02 PM
 #13

It's a really bad idea. I think wormbog have right.

So... Don't do it, for the future of bitcoin Smiley
I think this incredible price rise is a bad idea.
How can we convince bitcoin owners to sell their bitcoins?
tutkarz
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April 02, 2013, 02:45:10 PM
 #14

If everyone, or almost everyone, took this pledge, sellers would disappear and new money would not be able to enter the market. And we would all have to stop spending our coins since no merchant will base their prices on $1000/coin if they can't sell for that rate to replenish their stock. This solution would turn bitcoin into a club for insiders only, and ultimately kill it.

Please don't.

They wont disappear, they will sell for $1000. And if everybody will sell for that much, then buyers will also have to buy for that much. Nothing will change except price. And those who risked they money to invest in bitcoins before others would get rewarded for this.

tutkarz
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April 02, 2013, 02:49:39 PM
 #15

You have to remember that by increasing bitcoin price, you need way less bitcoins to trasfer given value. For example now to transfer $1000 you need 10 bitcoins but after price increase you need only one. And the faster we get higher bitcoin value then less price changes will be because it will be too expensive to easilly influence market. The faster we do this the better.

pvz
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April 02, 2013, 03:12:41 PM
 #16

The faster we do this the better.
Thank you for your support.
Akka
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April 02, 2013, 03:19:19 PM
 #17

OMG.

Just how greedy are you guys? As if the recent price rise wasn't enough.

Well, while we are at it, lets make it 10,000 USD.

So I can sell at 9999 just before you guys start selling again

All previous versions of currency will no longer be supported as of this update
pvz
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April 02, 2013, 03:31:45 PM
 #18

As if the recent price rise wasn't enough.
I would rather had a stable 10% price increase within a year from $40 in favor of the rollercoaster we are in right now.
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April 02, 2013, 03:40:25 PM
 #19

All of this (and in a sense Bitcoin itself)
is speculation. That is basically the main difference between btc and
fiat. The fact that none can 'set the price' but at the same time
everyone can help set it. I know when i bought my first btc
i had no idea that my $7/coin investment would be breaking
$100usd and making national news (CNBC last night) less than a year later.

we can guess all day long but at the end of the day
i probably wont even sell at 1,000 usd

lets get to a MILLION! haha

-Jackofspades
Ekaros
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April 02, 2013, 04:25:34 PM
 #20

If I had any coins I would sell at 500€ and there would be many more people who would cash out. It's just not possible to do this...

Too bad I'm too poor...

12pA5nZB5AoXZaaEeoxh5bNqUGXwUUp3Uv
http://firstbits.com/1qdiz
Feel free to help poor student!
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