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Author Topic: This is why bitcoin is NOT going to fall in a time like this.  (Read 835 times)
EyeRis
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June 20, 2011, 04:24:39 PM
 #1

Many of you seem to not understand how an economy works and it is very simple with the economy.

Right now people are panicking that bitcoin is going to fail and blah blah because of of the exchanges went down, which actually isn't a big deal.


1
Right now the price of a bitcoin is very low, and people are scared to invest because of it. That is how the United States depression happened. the stock market crashed and people became too scared to invest in stocks because everything was failing which resulted in businesses having to close.

So learn from history, Buy now. Buying now will quickly raise the price of a bitcoin and thus be a huge investment for you.

2
The best part about bitcoin, people will stop mining now. (well wait why is that good?) why?! because mining will be more profitable for a short period of time. first people will flee from mining as it will become worthless, figuring they are spending all this time mining something not worth the time (refer back to when in the United States when the price of copper went through the roof a few years back and people "mined it" from abandoned buildings), then people will realize they can make a larger payoff (again refer to the copper spike, then people caught on and tons of copper came onto the market which lowered the price back to normal), then the economy will stableize and the people who worked through it will become rich.

everything is as it should be people.

http://eyerishacking.blogspot.com/
BTC address: 1D8BYFgQDd1tuARbCrsSiNmXs84CvUMUni
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Gabi
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June 20, 2011, 04:26:38 PM
 #2

I like 2, moar bitcoins for me  Grin
EyeRis
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June 20, 2011, 04:27:51 PM
 #3

The economy is still falling and people are going to try to sell and get out while they can. I pray that they do so I buy their coins at a low price, continue mining and in time ill be rich.

http://eyerishacking.blogspot.com/
BTC address: 1D8BYFgQDd1tuARbCrsSiNmXs84CvUMUni
Seldan90
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June 20, 2011, 04:37:29 PM
 #4

the upcoming difficulty increase of 60% takes long to adjust so even if there are less miners it won't be profitable for at least 2 weeks
SlickShaman
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June 21, 2011, 12:58:38 AM
 #5

1
Right now the price of a bitcoin is very low, and people are scared to invest because of it. That is how the United States depression happened. the stock market crashed and people became too scared to invest in stocks because everything was failing which resulted in businesses having to close.

So learn from history, Buy now. Buying now will quickly raise the price of a bitcoin and thus be a huge investment for you.

2
The best part about bitcoin, people will stop mining now. (well wait why is that good?) why?! because mining will be more profitable for a short period of time. first people will flee from mining as it will become worthless, figuring they are spending all this time mining something not worth the time (refer back to when in the United States when the price of copper went through the roof a few years back and people "mined it" from abandoned buildings), then people will realize they can make a larger payoff (again refer to the copper spike, then people caught on and tons of copper came onto the market which lowered the price back to normal), then the economy will stableize and the people who worked through it will become rich.

everything is as it should be people.

Good speculations and I hope it is true, but this doesnt account for the recent popularity boom and what could happen if government wants to get involved.
BTC Economist
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June 21, 2011, 01:25:19 AM
 #6

I think bitcoin is way too high right now.  Expect a lot of profit taking when Mt. Gox re-opens.  I suspect we'll see $8 the day Mt. Gox re-opens. 

When BTC soars, you need to be READY!  PM me to learn more about my new e-book, How to Create and Profit from the Second Bitcoin Bubble available exclusively to BTC forum members!

17JzkreEBYNHQM9tMTiUKCHANofwzHRLhP
EyeRis
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June 21, 2011, 02:33:31 AM
 #7

1
Right now the price of a bitcoin is very low, and people are scared to invest because of it. That is how the United States depression happened. the stock market crashed and people became too scared to invest in stocks because everything was failing which resulted in businesses having to close.

So learn from history, Buy now. Buying now will quickly raise the price of a bitcoin and thus be a huge investment for you.

2
The best part about bitcoin, people will stop mining now. (well wait why is that good?) why?! because mining will be more profitable for a short period of time. first people will flee from mining as it will become worthless, figuring they are spending all this time mining something not worth the time (refer back to when in the United States when the price of copper went through the roof a few years back and people "mined it" from abandoned buildings), then people will realize they can make a larger payoff (again refer to the copper spike, then people caught on and tons of copper came onto the market which lowered the price back to normal), then the economy will stableize and the people who worked through it will become rich.

everything is as it should be people.

Good speculations and I hope it is true, but this doesnt account for the recent popularity boom and what could happen if government wants to get involved.

The population boom is an issue with how bitcoin works for sure.. so to be devils advocate... to myself
That is bad at this time. the population boom will result in a higher difficulty in the block chain, However those users will most likely not mine.

I need to look at some information about how the block chain difficulty to be lowered.

http://eyerishacking.blogspot.com/
BTC address: 1D8BYFgQDd1tuARbCrsSiNmXs84CvUMUni
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