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Author Topic: How Do we bring the value of BitCoins back up?  (Read 5641 times)
adamstgBit
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August 25, 2011, 09:44:09 PM
 #21

Buy some SCs with BTC, then when SCs has 100%+ more value, sell them for BTC ;-)

SCs?

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August 25, 2011, 09:45:58 PM
 #22

Buy some SCs with BTC, then when SCs has 100%+ more value, sell them for BTC ;-)

SCs?

SolidCoins...
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August 25, 2011, 09:46:07 PM
 #23

Easy, tell other people that the bitcoin price is low, and that you're holding some long term, and if they're interested in to holding some long term too, offer to acquire and deliver some bitcoins for them.

It works for me - I deliver on paper wallets.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
Anonymailer
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August 25, 2011, 11:00:31 PM
 #24

It's easy to get impatient but there's so much development going on at the moment that I think is crucial to the BTC economy as a whole (as far as merchant apis/plugins and exchanges are concerned) and the economy should grow pretty well on it's own for the next year at least.

But really I think we need more merchants with competitive prices so people are compelled to buy and spend BTC to drive the price up.

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onesalt
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August 25, 2011, 11:14:24 PM
 #25

It's easy to get impatient but there's so much development going on at the moment that I think is crucial to the BTC economy as a whole (as far as merchant apis/plugins and exchanges are concerned) and the economy should grow pretty well on it's own for the next year at least.

But really I think we need more merchants with competitive prices so people are compelled to buy and spend BTC to drive the price up.

No merchant is going to accept btc when people have confessed it's a gambling game, and given the horrific breaches of security bitcoin has. You know like mtgox being hacked and all the money in mybitcoin "being stolen".
bitplane
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August 26, 2011, 12:58:57 AM
 #26

Using Bitcoin for gambling is a good idea, the more people that use it as play money the better Cheesy
FlipPro
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August 26, 2011, 01:08:33 AM
 #27

Get to work! Thats the best way to bring it back up.

I have something good that you guys might like, it's a little idea called Bitwal.

It will be an instant payment system, with fraud protection, and charge-backs very similar to Paypal. I know alot of you here despise Paypal, but guess what normal people need the kind of services they offer. I know for a fact that this community has bright enough minds to come together and make something much more convenient, and affordable to use than Paypal.

I am willing to put my time and money where my mouth is. I am willing to organize a team of this magnitude but it is going to take bright minds coming forward and other investors taking some risk along with me. I have the Idea there, and it really doesn't take that much monetarily to make a reality, however it does take a serious amount of money, and some of the best profesionals to make Bitwal the standard for Bitcoin micro-payments.

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robbonz
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August 26, 2011, 02:19:29 AM
 #28

You could make up a fake media story, like "Brad pitt uses bitcoins".

hahaha Brilliant!! +1
stryker
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August 26, 2011, 07:48:26 AM
 #29

just spend a few coins on goods and services.... thats what gives them "worth".  If noone spent them and there was nothing to buy with them, then they would be worthless
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August 26, 2011, 08:09:17 AM
 #30

Why do you want the value of bitcoin to come up? Bitcoin should be used to pay things with, to buy things with and not as a speculation object, right? So who cares what the value is in dollars? Wink

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bitrebel
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August 26, 2011, 08:31:26 AM
 #31

kill everyone who wants bitcoin to go down in value!

Then, when they are all dead, we'll have only people who want the price to rise.

Then, we'll have to make sure they are not killed shortly afterwards.

The victor will have bitcoins, and nobody left to buy them.  Cheesy

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August 26, 2011, 08:54:02 AM
 #32

...or we can just sell all the bitcoins and try to make the price unreasonably low... if it doesn't kill bitcoin, people are likely to start buying it to become early adopters-2, thus growing a new bubble and soaring the price far beyond 32$/bitcoin.. though wouldn't be much fun to look at it having all bitcoins sold out cheap Wink

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August 26, 2011, 09:56:25 AM
 #33

I agree withbitplane. (Online) casinos are a big industry, with big established players. Recently they have had a hard time because various countries forbid their citizens to use their debit/credit cards for gambling. It is difficult to get funds in/out of casinos. If BitCoins where widely accepted, I think it would show in value of BTC. Just like we saw with all the media hype around silkroad.
Anonymailer
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August 26, 2011, 10:10:49 AM
 #34


No merchant is going to accept btc when people have confessed it's a gambling game, and given the horrific breaches of security bitcoin has. You know like mtgox being hacked and all the money in mybitcoin "being stolen".
Smaller merchants will and that will help establish stability. Risk can be removed to a large extent if you immediately convert your costs back in to fiat on sales and keep profits in your own secure wallet!

MacMiner - The first, best and easiest to use native Mac coin mining app: https://bitcointalk.org/index.php?topic=197110.0

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ttk2
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August 26, 2011, 10:21:04 AM
 #35

It's easy to get impatient but there's so much development going on at the moment that I think is crucial to the BTC economy as a whole (as far as merchant apis/plugins and exchanges are concerned) and the economy should grow pretty well on it's own for the next year at least.

But really I think we need more merchants with competitive prices so people are compelled to buy and spend BTC to drive the price up.

No merchant is going to accept btc when people have confessed it's a gambling game, and given the horrific breaches of security bitcoin has. You know like mtgox being hacked and all the money in mybitcoin "being stolen".


its a million times easier to keep your wallet secure when you do not have to have authomatd payouts. Thats why banks like mybitcoin and MTGox where targeted, they had to be able to send as well as reviece coins. If you only have to reciece coins you can keep the wallet you are sending them to off site, making them almost impossible to steal.

Just in case i do something worthwhile: 12YXLzbi4hfLaUxyPswRbKW92C6h5KsVnX
FlipPro
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August 26, 2011, 10:21:50 AM
 #36

kill everyone who wants bitcoin to go down in value!

Then, when they are all dead, we'll have only people who want the price to rise.

Then, we'll have to make sure they are not killed shortly afterwards.

The victor will have bitcoins, and nobody left to buy them.  Cheesy
Everything you say can and will be used against you in the court of law Wink.

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mintymark
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August 26, 2011, 10:23:49 AM
 #37

I agree that if a small country started to use bitcoins then this would make a big difference. What stops that right now?

Well many small countries with serious money problems also have dire political situations that would prevent this. Lets put those aside.

Next many governments would not want to cede their currency to one they had no control over. After all you can always print more pound notes, or green backs if the economic situation gets bad, but what can you do with bitcoin? Nothing. So A country that already had any control over its finances could not or would not do this.

Lets imagine we have a country wanting to do this. HOW would they do it? First thing is how does the man in the street get coins? Normally introduction of a new currency is go to the bank and exchange iold currency for new one. That could work, but for many people lack of a physical embodiment would be an obstacle. I mean, for us netizens, its great we never look at a piece of paper, and want our money to be the same, but for your average sheep farmer who doesnt have a computer, much less understand the difference between hash and a random number how can it work?

Perhaps we need a physical currency built on bitcoin, as was discussed in these forums some while back. The idea here was that the actual coin contained a sealed hash that could be broken open and redeemed or could be exchanged still sealed. This is, of course exactly the same as a fiat currency, you are relying on the promise on the coin/note that there is a bitcoin behind it. Just like a Uk £5 note which has a promise to pay the bearer on demand the sum of five pounds, once upon a time this was five pounds weight of silver.  Its a bit better than this because the promise can be verified and and "expert" could check if the coins really exist in the bitcoin chain. I'd say your average sheet farmer would be happy with that. But the problem here is that the cost of making the money would be high, would involve new, possibly unproven  and unfamiliar technologies. I mean look at the notes circulating in turkey, libiya or malasia. Some of these are so old and worn to be hardly reconisable.  The physical bitcoin must be tough!!

Is this possible? I do not know.


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ThomasV
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August 26, 2011, 10:33:16 AM
 #38

Anyone have any ideas on bringing the value of BTC back up?

Whenever you need to buy something, check if you can buy it with bitcoins.
You can buy a lot of things with bitcoin, see for example spendbitcoins.com

Spending bitcoins does not mean that you cannot hoard some; just buy back the coins that you have spent if your goal is to keep a constant amount.


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bitlane
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August 26, 2011, 10:37:40 AM
 #39

SilkRoad + Oxycontin = Current BTC value x3 Wink

Wasn't the big bump to over $25 USD/BTC was due to speculation of drug availability ?, we should embrace the subculture, as it directly benefits us.....lol

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August 26, 2011, 10:41:37 AM
 #40

I was actually hoping that people would show an interest in boosting the value of BTC and now i've found my kind of thread :-)

Anyways I'm thinking that maybe if all of our respective websites that we own (I do own 2 forums in addition to my blog,plus mining,filmmaking and investing businesses online.At least I own multiple ways to make use of bitcoins as well as traditional money,$,£ e.t.c) made use of bitcoins,then perhaps the reputation would get better (of the currency) and more widespread use of bitcoins would make the value rise massively (I hope).

I want the value to rise as well as I mine.Will there be another bubble where we have high value bitcoins or are those days behind us now?

thing is, what factors can change bitcoin's value?

Perhaps a film could help?

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