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Author Topic: Concerns about the fluctuation, even dramatic, of the price of Bitcoin...  (Read 5357 times)
ThiagoCMC
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September 06, 2011, 05:30:23 AM
 #1

Guys!!

 I see a lot of discussion about the price of Bitcoin... Desperate people, thinking that is the end of the world the price of Bitcoin fall and fall but... What intrigues me is over:

 Why is the price rise so quickly in the first place ?!?!?

 The only answer I have in mind: The price of Bitcoin rise because the two U.S. senators have discovered about it and about Silkroad and they decided to try crack down the network... All parrot stuff... Media etc and etc... BOOM! The price went up... But in fact, the price was not worth much and, apparently still is not.

 So my curiosity is: What would it cost the Bitcoin today if this had not happened a few months ago?!

 That is, the trend should be the price of Bitcoin go back to the levels before this news, since the Bitcoin economy is not really prepared to be as valuable as they say it is worth.

 Thus, the Bitcoin value will going back to be more valuable in the future, maybe in a couple of years, or before, but everything will depend on the reformulation Bitcoin client, so it should be much more friendly and safe (backups, automatic wallet encryption and etc.) and especially , in global acceptance of Bitcoins for goods and services.

 We still have a LOT of work to do!!

 This is just the beginning. We shouldn't fear the Bitcoin price these days...

 Lets work more and talk less fellas!! COME ON!!

 The Bitcoin needs more developers!! C coders, Python coders, GUI design builders, a libbitcoin detached from the GUI, wallet encryption per default and automatic, more rich and user friendly interface, a web panel to your local bitcoind... And most important, a democratic development. Not this democratic we have in politics... A REAL open source democracy.

Best,
Thiago

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September 06, 2011, 06:30:29 AM
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The Bitcoin needs more developers!!

Disagree. Who will pay to developers, if miners are not willing to pay them?

We need Enterpreneurs (to plan the development and to persuade miners)
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September 06, 2011, 06:41:21 AM
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Guys!!

 I see a lot of discussion about the price of Bitcoin... Desperate people, thinking that is the end of the world the price of Bitcoin fall and fall but... What intrigues me is over:

 Why is the price rise so quickly in the first place ?!?!?

 The only answer I have in mind: The price of Bitcoin rise because the two U.S. senators have discovered about it and about Silkroad and they decided to try crack down the network... All parrot stuff... Media etc and etc... BOOM! The price went up... But in fact, the price was not worth much and, apparently still is not.

 So my curiosity is: What would it cost the Bitcoin today if this had not happened a few months ago?!

 That is, the trend should be the price of Bitcoin go back to the levels before this news, since the Bitcoin economy is not really prepared to be as valuable as they say it is worth.

 Thus, the Bitcoin value will going back to be more valuable in the future, maybe in a couple of years, or before, but everything will depend on the reformulation Bitcoin client, so it should be much more friendly and safe (backups, automatic wallet encryption and etc.) and especially , in global acceptance of Bitcoins for goods and services.

 We still have a LOT of work to do!!

 This is just the beginning. We shouldn't fear the Bitcoin price these days...

 Lets work more and talk less fellas!! COME ON!!

 The Bitcoin needs more developers!! C coders, Python coders, GUI design builders, a libbitcoin detached from the GUI, wallet encryption per default and automatic, more rich and user friendly interface, a web panel to your local bitcoind... And most important, a democratic development. Not this democratic we have in politics... A REAL open source democracy.

Best,
Thiago

+1

And I'll elaborate:

I guess that some of you are following the progress of Safebit, so some of you know that I'm raising funds to make really something out of it and not leave at a "open-source bitcoin wallet" status that most of the wallets out there are stuck on.

During the last couple of months, I've started meeting with very interesting people in the world of finances and high-tech, and I'm very surprised at how far and wide the idea of Bitcoin has spread.
There is only a handful of people in those areas who haven't heard about bitcoin at all, they may not know it by heart as we do, but they are listening and looking, following the progress.
I'm talking about Fortune 500 companies, venture capital, angels, financial companies, and technological companies. Everybody seems to know about bitcoin.

Their take on the idea itself is as varied as we see here on the forums, it seems that some think that it's passing fade, others are sure it's the next best thing, while some think that's it's like the Napster and we're still waiting for our Bittorrent (which I disagree with, because Bitcoin is already at the Bittorrent stage imho).

What most of the people here think wrongly is that this forum is any indication of what's really going on. There are numerous start-ups and entrepreneurs out there trying to make Bitcoin the big success that we all think it could be, and there are business people who are putting money on those ideas and people.

Currently 90% of the development we see in Bitcoin is catered by developers who invest their time into it without seeing a coin out of it (well, not true in this case, but you get the drift), open-source is sweet and all, but you can't build businesses and economy around open-source and free developers, it just doesn't work.

Soon, 6-or-so months from now, we'll start seeing high-quality work coming out of those not-free developers, where high-end products will start to dominate the Bitcoin landscape and bringing in more and more outsiders that would take interest in Bitcoins' great features and the fact that you don't need to pay for transactions of any size, and the fact that Bitcoin is unregulated and extremely hard to trace, this especially will cater to black-market, which is part of any market, and also porn. It's not coincidence that porn were the first businesses we saw using Bitcoins.

We all know that Bitcoin has boat-load of advantages over the existing monetary system in terms of transaction fees, regulation, and anonymity. We are all here because of those feature, and it's interesting not only us, but everybody around the world. Most just haven't heard about Bitcoin yet.

The price of Bitcoin does not reflect anything, it's pure speculations. People are making a lot of money by playing with the price of Bitcoin, but for now the only things that people are buying with Bitcoins are USD and drugs, but that's going to change soon with the advent of high-quality developers backed by high-equity funding.

You don't have to believe me, and I even may be wrong, but just wait. And for those who are selling their coins because of the fear - I say good! at least there are buyers Wink
ThiagoCMC
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September 06, 2011, 07:04:10 AM
 #4

The Bitcoin needs more developers!!

Disagree. Who will pay to developers, if miners are not willing to pay them?

We need Enterpreneurs (to plan the development and to persuade miners)

 I am a miner (only 5GHash now) and I would like to pay for the Bitcoin development.

 In fact, I'm already doing this, but for my exchange site... So I can get more money, to pay for the Bitcoin development soon as possible...

 BTW, who pay for the Linux development?! There is a LOT of volunteers that would like to make something useful for mankind.

 Don't you know about Nikola Tesla?! He did all he did, not for money. We have global electricity, he develop and built the first hidroelectric power plant FOR US! For no money. He was a real human being.

 Money is a false incentive.

 But we are still living on this kind of society, so, lets do our best! Even if it is for free! For the health of people, you and me. Because at the end of the day, we all win!

 Think about it... All the governments of this world are working so hard to fuck us every single day! We NEED to do something about it!

 Bitcoin: Currency of Resistance!!

Best,
Thiago

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September 06, 2011, 07:14:06 AM
 #5

It's failing because nobody is going to buy a solid house on a shitty foundation.


solid house-> bitcoin
shitty foundation -> internet.
Eli
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September 06, 2011, 07:17:38 AM
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It's failing because nobody is going to buy a solid house on a shitty foundation.


solid house-> bitcoin
shitty foundation -> internet.

shitty foundation? Please, tell us more, you seem so knowledgeable...
alexanderanon
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September 06, 2011, 07:21:30 AM
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It's failing because nobody is going to buy a solid house on a shitty foundation.


solid house-> bitcoin
shitty foundation -> internet.

Freenetgeek?
GeniuSxBoY
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September 06, 2011, 07:23:07 AM
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Also, mtgox screwed mtgoxlive up. The graphs are not at all even close to accurate
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September 06, 2011, 07:25:09 AM
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Quote
shitty foundation? Please, tell us more, you seem so knowledgeable...


Where have you been the last two months of rape and pillage?
bitrebel
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September 06, 2011, 07:40:13 AM
 #10

Guys!!

 I see a lot of discussion about the price of Bitcoin... Desperate people, thinking that is the end of the world the price of Bitcoin fall and fall but... What intrigues me is over:

 Why is the price rise so quickly in the first place ?!?!?

 The only answer I have in mind: The price of Bitcoin rise because the two U.S. senators have discovered about it and about Silkroad and they decided to try crack down the network... All parrot stuff... Media etc and etc... BOOM! The price went up... But in fact, the price was not worth much and, apparently still is not.

 So my curiosity is: What would it cost the Bitcoin today if this had not happened a few months ago?!

 That is, the trend should be the price of Bitcoin go back to the levels before this news, since the Bitcoin economy is not really prepared to be as valuable as they say it is worth.

 Thus, the Bitcoin value will going back to be more valuable in the future, maybe in a couple of years, or before, but everything will depend on the reformulation Bitcoin client, so it should be much more friendly and safe (backups, automatic wallet encryption and etc.) and especially , in global acceptance of Bitcoins for goods and services.

 We still have a LOT of work to do!!

 This is just the beginning. We shouldn't fear the Bitcoin price these days...

 Lets work more and talk less fellas!! COME ON!!

 The Bitcoin needs more developers!! C coders, Python coders, GUI design builders, a libbitcoin detached from the GUI, wallet encryption per default and automatic, more rich and user friendly interface, a web panel to your local bitcoind... And most important, a democratic development. Not this democratic we have in politics... A REAL open source democracy.

Best,
Thiago

I used to think the rise was due to people reading the silk road article, but now in retrospect, I see that speculators thought the article on this would propel bitcoins, so they bought, bought, bought.....

Patience is king, in trading bitcoins.

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September 06, 2011, 07:44:22 AM
 #11

Money is a false incentive.

Exactly. I am a developer. Money is not the issue.

I've started a big project, now it is on hold for several month already.

Reasons? Total mess and lack of clear leadership of BitCoin (not that I pretend), uncertain BitCoin fate with all the scandals, hacks, legal problems, scalability issues, and again - the general mess and the amount of morons, nobody can do anything about.

It's just a mess now. I guess we have to let it sort of die out, the price to drop to 1-2 dollars, morons get tired and move to new online "adventures" and then this project can quietly and slowly begin to evolve into something usable...


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theymos
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September 06, 2011, 07:45:59 AM
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Agreed. I won't be too concerned as long as the price is above $0.01. It's amazing that a decentralized cryptocurrency has any value, much less a value greater than the dollar.

In my opinion, the best thing for Bitcoin at this point would be a couple of quiet years without much of the crazy adoption/growth/"ungrowth" that we've seen recently. In that time, the client could become rock solid and infrastructure (exchanges, etc.) could become well-established. It seems that things will continue to go fast, though.

1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
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September 06, 2011, 07:47:33 AM
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Agreed. I won't be too concerned as long as the price is above $0.01. It's amazing that a decentralized cryptocurrency has any value, much less a value greater than the dollar.

In my opinion, the best thing for Bitcoin at this point would be a couple of quiet years without much of the crazy adoption/growth/"ungrowth" that we've seen recently. In that time, the client could become rock solid and infrastructure (exchanges, etc.) could become well-established. It seems that things will continue to go fast, though.

A wise man speaks!

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September 06, 2011, 07:48:59 AM
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thiago you are 100% right the success of linux(now android and the many other linux ofshoots) and bit torrent are all entirely due to the power of the open source concept. this why we trust it we don't want bitcoin to become dll(microsoft) city of closed and locked boxes. Lack of transparency weakens all technology and also creates distrust... The transparency of open source is entirely what has and always will ensure the bitcoin's success...

AMEN
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September 06, 2011, 08:04:26 AM
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In my opinion, the best thing for Bitcoin at this point would be a couple of quiet years without much of the crazy adoption/growth/"ungrowth" that we've seen recently. In that time, the client could become rock solid and infrastructure (exchanges, etc.) could become well-established.
Yeah, I personally welcome the fear mongers here for this very reason.  I think it's good to scare away the skittish speculators.  It'll inspire much more confidence if prices rise due to proven utility, rather than hopeful expectations.

Wild growth combined with infrastructure not ready to support it has been a pretty bad mix so far.
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September 06, 2011, 08:11:27 AM
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Quote
shitty foundation? Please, tell us more, you seem so knowledgeable...


Where have you been the last two months of rape and pillage?

Care to elaborate instead of throwing out unusable statements?
You say the internet is a shitty foundation, now please explain...

And I've been developing Safebit in the last two months, if you really must know...
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September 06, 2011, 08:21:44 AM
 #17

Thank you for a reasonable post. We got ahead of ourselves in many ways, and like it or not this price drop will give us time and reason to focus on real challenges. We'll lose most of impatient (now upset) speculators who were only doing damage to the system hoping to profit fast out of thin air. Good riddance.
The past year or so, if nothing else, has taught us that even in this early stage Bitcoin is resilient - it survived major attacks and scams, and a speculation bubble. I'll keep mining, and I look forward to exchanging my coins for goods and services. Not tomorrow, not next month.  

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September 06, 2011, 08:38:11 AM
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Thank you for a reasonable post. We got ahead of ourselves in many ways, and like it or not this price drop will give us time and reason to focus on real challenges. We'll lose most of impatient (now upset) speculators who were only doing damage to the system hoping to profit fast out of thin air. Good riddance.
The past year or so, if nothing else, has taught us that even in this early stage Bitcoin is resilient - it survived major attacks and scams, and a speculation bubble. I'll keep mining, and I look forward to exchanging my coins for goods and services. Not tomorrow, not next month.  

+1 !


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ThiagoCMC
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September 06, 2011, 08:47:02 AM
 #19

Money is a false incentive.

Exactly. I am a developer. Money is not the issue.

I've started a big project, now it is on hold for several month already.

Reasons? Total mess and lack of clear leadership of BitCoin (not that I pretend), uncertain BitCoin fate with all the scandals, hacks, legal problems, scalability issues, and again - the general mess and the amount of morons, nobody can do anything about.

It's just a mess now. I guess we have to let it sort of die out, the price to drop to 1-2 dollars, morons get tired and move to new online "adventures" and then this project can quietly and slowly begin to evolve into something usable...

FINALLY!!!

Lets talk about your projects! About the Bitcoin development... Do not be discouraged now because of the apparent mess, it's easy to rearrange and, maybe this is just a cloud of dust in front of a great thing... The Bitcoin itself... It is there, shining, but we only can see it through the Hubble Space Telescope infrared cams... lol

The Bitcoin development needs of nontechnical people involved. And this asks for a kind of "Interface" to the Bitcoin future, where everybody can participate.

The Bitcoin-Development mailing list as a few messages per day... I'm reading it one per week, I like it... Go ahead and sign up there!

Best!

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ThiagoCMC
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September 06, 2011, 08:54:00 AM
 #20

Agreed. I won't be too concerned as long as the price is above $0.01. It's amazing that a decentralized cryptocurrency has any value, much less a value greater than the dollar.

In my opinion, the best thing for Bitcoin at this point would be a couple of quiet years without much of the crazy adoption/growth/"ungrowth" that we've seen recently. In that time, the client could become rock solid and infrastructure (exchanges, etc.) could become well-established. It seems that things will continue to go fast, though.

I'm with you!!!
We are already at this wave... Go surfing!!

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