Poll: Talking Price Down

[BitcoinAshley]

Recently there have been a number of threads specifically aimed at talking price down. One notable example is that guy "Oh I have insider information... I promise... :trlf:"

Do you think it will be successful?

Do you trade based on what trolls in the speculation subforum say?  

Be a part of history. Vote in the poll.

[lucas.sev]

You lack option: this forum does not have enough influence over price to even consider such possibility.

[BitcoinAshley]

Fixed. 

[Streets 2.0]

To be honest Ash, I dont listen to 95% of the fools on here when it comes to their TA and foot to mouth comments on value speculation.

There are only a few members here that I even bother to read their posts in the speculation forum.

[Bitbuy]

I guess it's nice to see everyone and their mother having a solid, will-come-true view on the price of Bitcoin, but in the end, I'll make up my own mind thank you

[Welsh]

To be honest Ash, I dont listen to 95% of the fools on here when it comes to their TA and foot to mouth comments on value speculation.

There are only a few members here that I even bother to read their posts in the speculation forum.

I got to agree with you. I don't even wondering into the speculation section, why? Because it's either full of trolls or people generally talking crap. I like  to judge for myself, rather than taking other peoples advise and opinions which could change how I handle my Bitcoin. From day one, I said "I'll trade my Bitcoin for things which I need, general items. The rest I'll horde". Even if the value really went down, then it would be my own fault. But everyday in the speculation section I always see from the main page "Bitcoin is dying, get out as fast as possible". But, so far they have been talking absolute nonsense.

Even intelligent and high respected people of this forum post nonsense. Let's be fair, why would people find the time to come on here and warn others about Bitcoin falling? Most of the people I see saying it's going to die and that they have cashed out, they haven't. Just use the search function and find their Bitcoin address, may take awhile but if you know what you're looking for and input the right key words your good. But, I always check their address and they normally haven't spent much at all in the last 3 days, normally betting or maybe small transactions. But they keep the majority of their Bitcoins.

So, Yeah. It could potentially persuade others to get rid of their Bitcoins, but remember people aren't always right and are normally bias towards their decisions, it's been many experiments in how people are very irrational and very bias towards their opinion. Also, others like to believe what they first hear and that kind of sticks with them, so it's hard to make them believe something else.

[MAbtc]

No effect. Same goes for all the "Rally Time!", "$5k bitcoins", etc. threads.

[Malawi]

I got to agree with you. I don't even wondering into the speculation section, why? Because it's either full of trolls or people generally talking crap. I

Just wanted to tell you that this is infact the speculation section.

Other than that, people are different, and have 100's of reasons to sell or buy BTC.
Some discussion and debating is just healthy, but you should always make up your own mind based on what you think is most correct.

[mgio]

No effect at all.

Most bitcoin investors don't read these forums and if they do, they don't take it very seriously. I know I don't.

[Crypt_Current]

Depends, on noobs mostly:  How many and what kinds.

There are seasoned traders that are new to BTC; they might come here and be affected by the spam.  And especially if they are not so seasoned in forums / online discussion boards...

Hard to believe though, that in this day and age, anyone actually making money in the established world markets would be so Internet non-savvy   

[niothor]

You clearly opened the thread just in time )))

[HappyBitCoinUser]

You don't need forum topics to force the price down.

When the government makes it impossible to exchange to cash out, then the investors will disappear, and the rest will hold onto their worthless BTC with pride.

[BitcoinAshley]

Very intelligent replies, everyone. I have edited the poll options accordingly. 

[dwdoc]

Talk is cheap. The only poll that matters is the price of BTC itself. That reflects the result of people voting for or against BTC with their pocketbooks. 

[AliceWonder]

Most of the people I see saying it's going to die and that they have cashed out, they haven't. Just use the search function and find their Bitcoin address, may take awhile but if you know what you're looking for and input the right key words your good. But, I always check their address and they normally haven't spent much at all in the last 3 days, normally betting or maybe small transactions. But they keep the majority of their Bitcoins.

I agree with your post, but the wallet address I posted here isn't one I would use for transactions specifically because I don't want people getting too snoopy. Someone here wants to pay to it that's fine, but here is here. I suspect many doing any kind of major trading would have play address here and do much of their real stuff from a different address probably in a completely different wallet.

Why announce your worth on a public forum and make yourself a target to scammers?

So what info you can glean from their wallet address posted here may be meaningless to their real activities.

[BitcoinAshley]

Worthless? If you can't cash out to a legacy bank, there is no sell side and price skyrockets. Are you retarded or did you just forget that part? Lol.
Besides, if goobermint regulated bitcoin to the point of completely outlawing exchange interface w/ legacy banking, price would skyrocket simply due to the nature of the product. It's like saying alcohol prices would plummet during the prohibition or people stop using bittorrent because the RIAA is going after them. It doesn't make sense in theory OR in practice.

[BitPirate]

Worthless? If you can't cash out to a legacy bank, there is no sell side and price skyrockets. Are you retarded or did you just forget that part? Lol.
Besides, if goobermint regulated bitcoin to the point of completely outlawing exchange interface w/ legacy banking, price would skyrocket simply due to the nature of the product. It's like saying alcohol prices would plummet during the prohibition or people stop using bittorrent because the RIAA is going after them. It doesn't make sense in theory OR in practice.

Exactly.

"Government cracking down on fiat money flows during most intense period of erosion of civil liberties in recent history"

"... I know, I must sell my Bitcoins!"

  

Furthermore, in the medium term, BTC will be even more useful to easily pay for products overseas as the western economies dig themselves into over-regulated protectionist holes.

[octaft]

It's like saying alcohol prices would plummet during the prohibition

I see you make this argument about drugs and alcohol frequently, and I'm not sure that it is the best analogy. If someone cracks down on drugs or alcohol, that doesn't stop people from the psychological or physical need for the drug, and they will go out of there way to get their drug of choice. I don't see bitcoin as having the same advantage in that area. If the crackdown on bitcoin does turn out to be successful, there's no dependence. The big sell hits, and the majority of people move on with their life. It's not nearly as easy for someone addicted to heroin or meth to move on from those drugs.

If you can think of a solid example of something being prohibited that went up in value but also isn't addictive in any way, I would be a lot more convinced. Something like guns springs to mind, but even those would logically have to stay in demand simply because the people who need them most are probably the ones who don't care about breaking laws, as well as citizens concerned with protecting their own families who are likely to put their families before the law. Guns offer a level of physical security (arguments about whether it's real or perceived aside), bitcoin does not.

You might notice I cut out the other portions of your response, as I honestly don't feel knowledgeable enough to assess them. You could be right, you could be wrong, but on the specific "drugs and alcohol" argument, I would disagree.

FYI I am not trolling you, and in fact am genuinely interested in your response.

[BitPirate]

It's like saying alcohol prices would plummet during the prohibition

I see you make this argument about drugs and alcohol frequently, and I'm not sure that it is the best analogy. If someone cracks down on drugs or alcohol, that doesn't stop people from the psychological or physical need for the drug, and they will go out of there way to get their drug of choice. I don't see bitcoin as having the same advantage in that area. If the crackdown on bitcoin does turn out to be successful, there's no dependence. The big sell hits, and the majority of people move on with their life. It's not nearly as easy for someone addicted to heroin or meth to move on from those drugs.

If you can think of a solid example of something being prohibited that went up in value but also isn't addictive in any way, I would be a lot more convinced. Something like guns springs to mind, but even those would logically have to stay in demand simply because the people who need them most are probably the ones who don't care about breaking laws, as well as citizens concerned with protecting their own families who are likely to put their families before the law. Guns offer a level of physical security (arguments about whether it's real or perceived aside), bitcoin does not.

You might notice I cut out the other portions of your response, as I honestly don't feel knowledgeable enough to assess them. You could be right, you could be wrong, but on the specific "drugs and alcohol" argument, I would disagree.

FYI I am not trolling you, and in fact am genuinely interested in your response.

I think the real point is, is that the government is not cracking down on Bitcoin -- but on fiat money transfer to/from Bitcoin (or anything else for that matter). All fiat transfers should have the  AML/KYC stamp of approval. If they want to do that, it's fine -- their intentions as publicly stated are noble (albeit, IMO, misguided in the bigger picture). However this increases the demand for a payment system with less friction. They are essentially increasing the market value of Bitcoin as a payment system by making the USD less useful.

This is assuming there always will be some way to get in and out of BTC -- and to all intents and purposes, it looks like there will be.

[marhjan]

Listen - I love Spongebob - but Papa Smurf would straight up destry him in any sort of fight.  Papa Smurf is a total badass...  wait are we supposed to be talking about bitcoins here or???

FWIW I listen to EVERY SINGLE FREAKING WORD in this forum and trade accordingly - hence I have about 0.06btc at the moment...   well maybe ;-)