Xyver (OP)
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June 14, 2013, 04:21:51 AM |
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I'm trying to think of ways to have Bitcoin keep its value, instead of always fluctuating up and down. As far as I know, it rises because lots of people buy coins, and once it hits a certain point, someone decides to sell a large amount, so the price drops a little bit, causing everyone else to sell, dropping the price lots. It falls down, until it hits a low enough value that people wish to "buy back in", and then the price begins to rise again, and the cycle repeats.
My idea is that instead of waiting for the price to rise to sell coins, wait for the price to rise to buy something with coins. Go to coingig, or bitcoinstore, and find an item that you want, and tell yourself "When Bitcoin hits 120$ (or any price), I'm going to buy this item instead of selling to an exchange.".
I think that this would help keep the price stable, as well as distribute the coins more, instead of keeping them all locked up in an exchange.
EDIT:: My knowledge of economics is minimal, so I could be way off.
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pocketkangs
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June 14, 2013, 04:31:30 AM |
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That's exactly what I do. I have spent several hundred BTC on lots of stuff.
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freedomno1
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June 14, 2013, 04:31:56 AM |
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Believing in Bitcoins and it's ability to change the world
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bitcon
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June 14, 2013, 04:39:45 AM |
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if people would sell their coins in smaller portions instead of dumping them all at once they would get more $ for their coins and the market wouldnt take a dive. but maybe they want to create panic selling to buy back lower.
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freedomno1
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June 14, 2013, 04:41:01 AM |
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if people would sell their coins in smaller portions instead of dumping them all at once they would get more $ for their coins and the market wouldnt take a dive. but maybe they want to create panic selling to buy back lower.
Pretty much shake out the weak hands and what not its actually a really bullish point of view
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Believing in Bitcoins and it's ability to change the world
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AliceWonder
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June 14, 2013, 09:49:42 AM |
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if people would sell their coins in smaller portions instead of dumping them all at once they would get more $ for their coins and the market wouldnt take a dive. but maybe they want to create panic selling to buy back lower.
My guess is a lot of them are cashing out in large quantities because they want to invest those assets in something else that they think is going to rise faster than bitcoin or into something with less risk. In those cases big dumps are the way to do it because you need the capital fluid for the investment. I doubt that money is just going into their bank account to sit around doing nothing.
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No 1
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Ad Infinitum Et Ultra
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June 14, 2013, 12:42:20 PM |
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buy buy buy <--- this is the only way friend
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12wqXQuExLnWoWWQy7j35hzBEW91bUz1YS LcbBQ5oXtTjyKK4V8iaDqgUAAtahv9nsHR
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LordMeowMeow
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June 14, 2013, 04:41:13 PM |
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Chicken/egg scenario. Once more mainstream companies go with Bitcoin payments the utility of holding Bitcoins for purchases will go up as more ways of spending them will become known. Right now bitcoins are mostly used as a speculative and dynamic trading tool which is completely normal given the market's infancy.
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ISAWHIM
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June 15, 2013, 02:42:08 PM |
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The only way to RAISE it, is to BUY IT for MORE than IT IS WORTH... (Loss)...
Problem is, all the ASICs are cashing-out for LESS than the market value, because they don't have LOSSES yet, and will keep cashing out, until they do have losses. They ARE waiting, as long as they can, but a few are not, and those who know this, are also cashing-out at a LOSS (under value), so they don't loose even more to ASICs. They are taking your VALUE, your cash, leaving you with a devalued BTC.
You want to make it live...
Cash out now, at any expense... wait for the ASIC's to drive it up again (Eg, once they have loss), and then buy them again at the lower price.
An ASIC can sell as low as $10 and make a profit from BTC/YOU. They will, because they don't have loss yet.
You are not helping BTC by keeping the price high, you are helping ASIC owners get rich, doing nothing... by keeping it high. Making yourself have more loss, while they have little loss.
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Mytche
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June 15, 2013, 07:51:05 PM |
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The price of bitcoin is actually depressed right now because of the the funds leaving the bitcoin economy due to the mining arms race that is going on. If you want to keep the price of bitcoin high I would suggest promoting companies that try to keep profits in bitcoin and encourage their own suppliers to use them.
Note that even though is arms race is depressing the price of bitcoin it is greatly increasing its value and should be reflected in the price sooner or later.
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pac1
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June 15, 2013, 10:02:51 PM |
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I'm trying to think of ways to have Bitcoin keep its value, instead of always fluctuating up and down. As far as I know, it rises because lots of people buy coins, and once it hits a certain point, someone decides to sell a large amount, so the price drops a little bit, causing everyone else to sell, dropping the price lots. It falls down, until it hits a low enough value that people wish to "buy back in", and then the price begins to rise again, and the cycle repeats.
My idea is that instead of waiting for the price to rise to sell coins, wait for the price to rise to buy something with coins. Go to coingig, or bitcoinstore, and find an item that you want, and tell yourself "When Bitcoin hits 120$ (or any price), I'm going to buy this item instead of selling to an exchange.".
I think that this would help keep the price stable, as well as distribute the coins more, instead of keeping them all locked up in an exchange.
EDIT:: My knowledge of economics is minimal, so I could be way off.
i think your right, otherwise how will bitcoin ever stabilise.
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JohnSy
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June 15, 2013, 11:51:00 PM |
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I'm trying to think of ways to have Bitcoin keep its value, instead of always fluctuating up and down. As far as I know, it rises because lots of people buy coins, and once it hits a certain point, someone decides to sell a large amount, so the price drops a little bit, causing everyone else to sell, dropping the price lots. It falls down, until it hits a low enough value that people wish to "buy back in", and then the price begins to rise again, and the cycle repeats. Your method is viale My idea is that instead of waiting for the price to rise to sell coins, wait for the price to rise to buy something with coins. Go to coingig, or bitcoinstore, and find an item that you want, and tell yourself "When Bitcoin hits 120$ (or any price), I'm going to buy this item instead of selling to an exchange.".
I think that this would help keep the price stable, as well as distribute the coins more, instead of keeping them all locked up in an exchange.
EDIT:: My knowledge of economics is minimal, so I could be way off.
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jhansen858
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June 16, 2013, 02:48:58 AM |
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I'm doing my part. When the price drops I buy to bring it back up. When the price rises, I start selling to bring it back down.
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Hi forum: 1DDpiEt36VTJsiJunyBc3XtG6CcSAnsQ4p
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Crypt_Current
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June 16, 2013, 03:33:17 AM |
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I'm doing my part. When the price drops I buy to bring it back up. When the price rises, I start selling to bring it back down.
![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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halfawake
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June 16, 2013, 08:09:59 AM |
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Chicken/egg scenario. Once more mainstream companies go with Bitcoin payments the utility of holding Bitcoins for purchases will go up as more ways of spending them will become known. Right now bitcoins are mostly used as a speculative and dynamic trading tool which is completely normal given the market's infancy.
This is exactly the problem right now. As far as currencies go, the market cap of bitcoin is still relatively low, so it doesn't take a lot of selling to get the price to go down these days. Once it becomes a more established currency, this will be much less of an issue.
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BTC: 13kJEpqhkW5MnQhWLvum7N5v8LbTAhzeWj
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sweeppicking
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June 16, 2013, 04:55:25 PM |
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I think the problem of price decreasing is for the new ASICs, people is trying to not lose their money by selling their Bitcoin so high as they can. It was the obvious problem of the first ASICs aparition, then the GPU miner will go to scrypt coins like litecoins and wild drop that price too because of the big quantity of coins generated till the difficulty sets up. I think that the solution is to hold our coins and wait to almost asics shipped and the strong up before the drop of this days.
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Technologov
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June 18, 2013, 08:42:16 AM |
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Manipulating market is just stupid. If you keep price too low, shortages develop, if too high and forbid selling, miners can't pay their bills. (for new hardware plus electricity).
Let the free market decide.
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BitChick
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June 19, 2013, 04:48:51 PM |
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I think the problem of price decreasing is for the new ASICs, people is trying to not lose their money by selling their Bitcoin so high as they can. It was the obvious problem of the first ASICs aparition, then the GPU miner will go to scrypt coins like litecoins and wild drop that price too because of the big quantity of coins generated till the difficulty sets up. I think that the solution is to hold our coins and wait to almost asics shipped and the strong up before the drop of this days.
It will be interesting to see what happens as the difficulty of mining BTC increases. I have never been a miner, just a buyer, so I cannot speak from experience. I would have thought that the mining community would see the value in just holding their BTC but then again, they have invested quite a bit of money into their systems and probably need to recoup those losses just to pay their bills. I am sure that there are some mining and holding. It would very interesting to know the percentage of BTC sold by miners is?
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1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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Hyena
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June 20, 2013, 01:49:36 PM |
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The original idea is very good. In January I transfered 100 euros worth of bitcoins to a certain e-shop that only accepts bitcoin. During the next months I got to actually spend 1000 euros worth of bitcoins ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) , so the a good approach would be just owning some pocket money in bitcoins and by spending it on goods you are basically taking out the returns in non-fiat way.
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legitnick
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June 20, 2013, 05:41:19 PM |
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If everyone on the forum agreed to buy at a certain time that would definitly boost the price up.
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