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Author Topic: What is really backing the price?  (Read 2979 times)
cassimares
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November 05, 2013, 12:58:56 AM
 #21

Warran Buffet might be the one backing the price,who knows Smiley

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rauderce
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November 05, 2013, 05:13:58 AM
 #22

Right now at this very moment the fiat price of 1BTC is rallying, and i highly suspect it's because of the number of speuclators entering. I think most people would think that it's a 'bubble' or a bubble is taking place however we have to take note that if more and more people know about BTC and decides to adopt it, the value of 1BTC will continually rise to ranges like 1k-10k without any real limitations.
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November 05, 2013, 01:29:34 PM
 #23

Is there any published information or reports on whether the majority of bitcoins are concentrated in the hands of a small number of accounts?

Also, I don't understand how the miners could potentially be a part of price manipulation other than possibly hoarding the currency, which would seem to make it so that they cannot recover their investments any time soon.
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November 05, 2013, 02:32:43 PM
 #24

Some good points..though I expected more disassembly of my "analysis"

Don't get me wrong I have invested a bit but it feels more like gambling than investing.



Bitcoin: Tulips of the 21st century?
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November 05, 2013, 03:14:50 PM
 #25

Is there any published information or reports on whether the majority of bitcoins are concentrated in the hands of a small number of accounts?

Also, I don't understand how the miners could potentially be a part of price manipulation other than possibly hoarding the currency, which would seem to make it so that they cannot recover their investments any time soon.

Maybe this helps:
https://bitcointalk.org/index.php?topic=321265.0

and if interest some known facts:
https://bitcointalk.org/index.php?topic=311328.msg3346240#msg3346240
biodieselchris
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November 05, 2013, 05:36:51 PM
 #26

BTC is backed up by the only thing that ever backs up a price:

demand.
phlogistonq
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November 06, 2013, 10:57:45 AM
 #27

You forget the most important factor : Paper printer FED & ECB

Quote
The supply is fixed. Nobody can 'regulate' it for us in their own best interest."

 Wink
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November 06, 2013, 01:48:56 PM
 #28

It's clearly a bubble. $20-30 price rises every day are not sustainable. It is going to pop and a lot of people will loose money.

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November 06, 2013, 02:42:41 PM
 #29

It's clearly a bubble. $20-30 price rises every day are not sustainable. It is going to pop and a lot of people will loose money.

Only if they buy high sell cheap.... they can always wait for it to stabilize back above the price they entered. Could happen.
afbitcoins
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November 06, 2013, 04:34:33 PM
 #30

Is BTC new world order currency?

I hope not. I think New World Order currency will be a chip embedded in your flesh which controls how much credit you are allowed. ie Fiat and debt based just like now, except with different branding. They might need to partially back with gold or something for a little while to get confidence restored.

Unless you are one of the elite in which case gold is the money, always has been and always will be.
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November 06, 2013, 04:40:24 PM
 #31

It's clearly a bubble. $20-30 price rises every day are not sustainable. It is going to pop and a lot of people will loose money.

I agree about the bubble, but you might look at it the other way, some people will profit nicely

Only those who buy high and sell cheap loose money  Wink
biodieselchris
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November 06, 2013, 05:04:52 PM
 #32

The May 2011 bubble went from 2 to 31 back to 2. Then there was 1.5 years of relative price stablility in the the 5-15 range that ended in Jan 2013 printing a value of 13.50. The next bubble was from there to 266 briefly. The resulting crash saw a low of 65 on July 1 and then relative price stability between 100-150 for awhile. Now BTC has printed an ATH at 272.52 just last night and if you think this is a bubble I would disagree, barring a catastrohpic failure or the like the next bubble will be in the 500 range with subsequent price stability around 300 for a few months.
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November 06, 2013, 07:57:53 PM
 #33

I think you should read this. If that gets throug to your control center, read David Graeber - Debt: the First 5000 Years.

                                 
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lucullus
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November 06, 2013, 11:16:43 PM
 #34

where's #5? you missed the US gvt investing and NSA and CIA mainframes mining bitcoin to pay us debt.  Smiley

Another ridiculous comment! I didnt think there would be more
thetopham
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November 07, 2013, 01:12:23 AM
 #35

tulip bulbs are backing the price

once I sold, now I hold: 1NmPGsSFQdRYbBQbYyBhVs7aiqYF7mpbAB
Buy Bitcoins: https://coinbase.com/?r=525e03600349f76de2000115
Buy Gold & Silver with Bitcoins: https://www.goldsilverbitcoin.com/index.php?plugin=wafp&controller=links&action=redirect&l=6&a=thetopham
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November 07, 2013, 01:14:12 AM
 #36

You forgot the ASIC manufacturers investing in BTC.

Micin
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