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EuroTrash (OP)
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April 10, 2013, 10:56:35 PM |
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... is to cause high instability in its fiat value, by repeatedly dumping and buying.
At least for now since services and goods are priced in fiat.
I am already reading the bad press... Google news for "bitcoin" and see.
OTOH I believe this can only slow down the pace of mass adoption. It's cryptocurrencies' destiny to prevail over other archaic forms of money.
What does not kill you...
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seleme
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Duelbits.com
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April 10, 2013, 11:17:45 PM |
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That's what I was talking the other day discussing with someone about mass bitcoin adoption.
As long as this kind of things are happening you'll never walk to the shops at massive rate and pay with bitcoins. They don't want to sell you something worth 1000 of fiats that could be worth 400 in half an hour.
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Zendata
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April 10, 2013, 11:40:54 PM |
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If instabilities like this continue to come and go. I dont see the problem. Welcome to day trading, this is how exchanges work and how you come out on top. Those arent up for it will fade away. This is survival of the fittest in economic standards. Sink or swim buddy.
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proudhon
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April 11, 2013, 12:00:13 AM |
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Yep. On the bright side, developers just got another several years to try to strengthen this project without hoards of armature speculators hoping to get rich quick, while at the same time overburdening an infrastructure clearly not ready for prime time. It'll be another few months, and a long slow slide down, as the system flushes the wounded and dead, and then after that bitcoin will be off the radar again for good long time.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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johnniewalker
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April 11, 2013, 12:05:55 AM |
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I feel like an idiot. I never even considered that. I was on the "Too Big To Fail" boat. I thought the only thing that could slow down (not stop) bitcoins was some type of government legislation, although it would probably prove largely useless. But this, you are right. Hopefully people will realize that although the market is extremely volatile, it seems to reach a certain point (say $100 recently) and *knock on wood* not dip below that. The amount of volatility is certainly partially a factor of the nature of bitcoins. But, I do believe that the market will become more stable as it becomes more mainstream.
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Anon136
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April 11, 2013, 12:06:51 AM |
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... is to cause high instability in its fiat value, by repeatedly dumping and buying.
At least for now since services and goods are priced in fiat.
I am already reading the bad press... Google news for "bitcoin" and see.
OTOH I believe this can only slow down the pace of mass adoption. It's cryptocurrencies' destiny to prevail over other archaic forms of money.
What does not kill you...
i think overall its a good thing for bitcoin adoption and here is my logic. Price crashes, dinosaur media gets excited and sees this as an opportunity to do a hit piece inorder to attack bitcoin and futher prop up their bankster masters. People read the hit piece and say wtf is bitcoin. People go on the internet and look up bitcoin. So what if they think its a bad investment because of the media, now atleast they know it exists, they certainly wouldnt have bought any bitcoin if the didnt know it existed, if they know it exists than atleast theres a chance they might buy some bitcoin. |
Rep Thread: https://bitcointalk.org/index.php?topic=381041If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited? |
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bitarrow
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April 11, 2013, 12:13:46 AM |
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Yep. On the bright side, developers just got another several years to try to strengthen this project without hoards of armature speculators hoping to get rich quick, while at the same time overburdening an infrastructure clearly not ready for prime time. It'll be another few months, and a long slow slide down, as the system flushes the wounded and dead, and then after that bitcoin will be off the radar again for good long time.
Now your starting to sound like Satoshi been studying his posts?  |
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Crypt_Current
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April 11, 2013, 12:34:32 AM |
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Yep. On the bright side, developers just got another several years to try to strengthen this project without hoards of armature speculators hoping to get rich quick, while at the same time overburdening an infrastructure clearly not ready for prime time. It'll be another few months, and a long slow slide down, as the system flushes the wounded and dead, and then after that bitcoin will be off the radar again for good long time.
OH YEAH i forgot about this particular phrasing that also == more upside (that is, in addition to "single digits") |
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BrightAnarchist
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April 11, 2013, 12:49:16 AM |
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Yep. On the bright side, developers just got another several years to try to strengthen this project without hoards of armature speculators hoping to get rich quick, while at the same time overburdening an infrastructure clearly not ready for prime time. It'll be another few months, and a long slow slide down, as the system flushes the wounded and dead, and then after that bitcoin will be off the radar again for good long time.
Agreed. |
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EuroTrash (OP)
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April 11, 2013, 04:56:04 AM |
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and a long slow slide down
I don't think so. I think the correction is over in two days. |
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wamatt
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April 11, 2013, 05:01:19 AM |
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and a long slow slide down
I don't think so. I think the correction is over in two days. Agreed, many folks really have no idea the backlog of demand. I put it at $1b+ on a rough guestimate based on my own experience and Mt Gox AML numbers. |
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jwzguy
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April 11, 2013, 05:02:58 AM |
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This too shall pass.
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