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Author Topic: (I think) Bitcoin value needs to stay at at least $10 for the next 2 weeks  (Read 1807 times)
the joint
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August 09, 2011, 11:10:09 PM
 #1

This is my reasoning...

The Bitcoin conference in NYC is coming up shortly and there will be a lot of media/press coverage.  How disappointing would it have been if the conference was several days ago when Bitcoin was at it's lowest point in months?  How would the media report on the conference amidst the slow and continuous decline in value?  I think the conference can benefit from today's upswing if it continues to hold as this will give the impression of the market's resiliency.  Then, the media outlets may be more prone to portray Bitcoin with an optimistic overtone.  I think if Bitcoin can sustain or even increase its value up to the date of the conference, then there may be a good possibility that we will see a huge new influx of investors. 

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August 09, 2011, 11:17:27 PM
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http://bitcoinme.com/index.php/bitcon-2011/

Some of the media outlets who have said they will be here include:

    CNN International
    Al Jazeera English
    Blomberg Television
    Wall Street Journal
    The New York Observer
    BusinessWeek
    Wired Magazine
    SmarterMoney
    NPR
    Forbes
    Fortune
    CNN / Money
    The Atlantic
    Radio Australia
    Freedomain Radio

I've been thinking about this event too, as there are a fair few media outlets that will surely have a very large reader base, Bitcoin will have ALOT of coverage during/after this event.

I would guess that leading up to the event the price will increase anyway, as speculation from miners about the media exposure will surely get everyone thinking about a price rise.
I think it's possible we could see the price go up to $12, maybe higher if some speculators invest enough before the event - Then depending on how well the event goes and how much media exposure it actually gets we could have rally upto $20 or more, but i'm no expert with figures like this so i'll see what some more experienced people think Wink

Before the event i should have more than doubled my mining capacity, so i'm hoping that the coverage is big enough for us to see a big influx of investers.

miscreanity
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August 10, 2011, 02:08:05 AM
 #3

 Shocked

This is insanity in the making. Even if a fraction of a percent of the readership from those organizations decide to dabble in Bitcoin, it could easily make the influx that brought the price to $30 seem like a trickle.

Depending on the perspective presented by the media outlets, it could amount to much more than a small percentage of their audience.

I don't know if the Bitcoin economy is flexible and robust enough to survive a shock of that magnitude...

The saving grace might be that it's still too technical for most.
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August 10, 2011, 02:11:24 AM
 #4

Quote
http://bitcoinme.com/index.php/bitcon-2011/

Some of the media outlets who have said they will be here include:

    CNN International
    Al Jazeera English
    Blomberg Television
    Wall Street Journal
    The New York Observer
    BusinessWeek
    Wired Magazine
    SmarterMoney
    NPR
    Forbes
    Fortune
    CNN / Money
    The Atlantic
    Radio Australia
    Freedomain Radio

I've been thinking about this event too, as there are a fair few media outlets that will surely have a very large reader base, Bitcoin will have ALOT of coverage during/after this event.

I would guess that leading up to the event the price will increase anyway, as speculation from miners about the media exposure will surely get everyone thinking about a price rise.
I think it's possible we could see the price go up to $12, maybe higher if some speculators invest enough before the event - Then depending on how well the event goes and how much media exposure it actually gets we could have rally upto $20 or more, but i'm no expert with figures like this so i'll see what some more experienced people think Wink

Before the event i should have more than doubled my mining capacity, so i'm hoping that the coverage is big enough for us to see a big influx of investers.

easily
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August 10, 2011, 02:49:52 AM
 #5

on the flip side, given the facts that bitcoin HAS been reported by major media and considering where the price is today, I have doubt this event will make much difference.
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August 10, 2011, 05:50:19 AM
 #6

i'm hoping for the best, but expecting the worst

the joint
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August 10, 2011, 07:30:44 AM
 #7

on the flip side, given the facts that bitcoin HAS been reported by major media and considering where the price is today, I have doubt this event will make much difference.


This is a different situation, though.  In the past, media outlets have typically discussed Bitcoin in response to a particular event (e.g. Mt. Gox hack, rapid price increases/decreases, MyBitcoin debacle, etc.).  This is different in that media outlets are showing interest prior to an event (i.e. the conference) and in that there are so many media outlets simultaneously planning to show interest in the same event.  Thus, there is an additional hype factor as well as a density-of-coverage factor that hasn't been seen before.  Forbes, CNN, etc. have reported on Bitcoin before, but they have not all planned to converge to cover the same thing at the same time.

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August 10, 2011, 12:40:22 PM
 #8

yes, this can only be a positive.  it will be very educational for the news attendees who will get a multitude of positive opinions from a variety of bitcoin evangelists.  specific questions and concerns will be addressed in a private relaxed manner.  new technologies will be demonstrated firsthand to guests, attendees and the press in a nice, professional atmosphere.  the BTC price is already rising and will probably ramp during the conference as attendees will frantically be calling home to loved ones to buy BTC or they will themselves steal back up to their rooms to buy BTC.
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August 17, 2011, 10:33:51 AM
 #9

I agree that this can be nothing but good for Bitcoin.

Can't wait for this conference.  I was originally going to go, but then the funding didn't come through for me...  oh well.

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Sultan
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August 17, 2011, 10:47:00 AM
 #10

The value of BitCoin cannot be controlled

http://images.onbux.com/banner.gif
I then use the money to buy BitCoins. You can too!
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August 17, 2011, 01:18:38 PM
 #11

If you had enough Bitcoin or USD you could control it.

We could also as a collective whole, buy more Bitcoins thus driving the price up.  It could be done, it would just take work.

With that said, I doubt we will all work together to do that and I don't think someone with a bunch of money is going to buy all the coins.  (But if they do, they should donate to the faucet.)

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