Bitcoin Forum
March 29, 2024, 02:49:18 PM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1] 2 »  All
  Print  
Author Topic: Actually btc is going down because...  (Read 3660 times)
wobber (OP)
Legendary
*
Offline Offline

Activity: 1064
Merit: 1001


View Profile
September 06, 2011, 05:21:12 PM
 #1

Because of people that speculated them and used them as commodity. Bitcoin is a currency. Sure, we could it as a commodity in a few years whenaskk and offer ratio will be in the sky, but I believe most of us forgot to use it because of what it is. A good, bank-free method to buy things. And services.

So, as a merchant, I'm waiting the prices to go around $5 (even lower, but lower than $2-3 would be not good) and people start shopping (again).

I don't really care about the prices, I feel sad for people that loose speculating, also fell happy for the one that make some profit.

If you hate me, you can spam me here: 19wdQNKjnATkgXvpzmSrkSYhJtuJWb8mKs
Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1711723758
Hero Member
*
Offline Offline

Posts: 1711723758

View Profile Personal Message (Offline)

Ignore
1711723758
Reply with quote  #2

1711723758
Report to moderator
legolouman
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


Decent Programmer to boot!


View Profile
September 06, 2011, 05:38:33 PM
 #2

Actually BTC prices are going down because of speculation. In investing, you only lose money if you sell low, these people don't understand that and say "OH NO, the price dropped $1, let's make a big deal, plummet prices, and speculate it's because of how bitcoin is deflationary, prone to scam and stuff."

I think everyone should tough it out, so to speak, and buy buy buy.

If you love me, you'd give me a Satoshi!
BTC - 1MSzGKh5znbrcEF2qTrtrWBm4ydH5eT49f
LTC - LYeJrmYQQvt6gRQxrDz66XTwtkdodx9udz
Minsc
Full Member
***
Offline Offline

Activity: 210
Merit: 100


View Profile
September 06, 2011, 05:40:07 PM
 #3

In investing, you only lose money if you sell low


Last time it did that I held onto them and they never came back up.  So I learned to sell early in a freefall and wait to buy later.  But I don't think it will go back up from when it hits bottom at $3.

1DcXvfJdeJch9uptKopte5XQarTtj5ZjpL
legolouman
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


Decent Programmer to boot!


View Profile
September 06, 2011, 05:50:23 PM
 #4

In investing, you only lose money if you sell low


Last time it did that I held onto them and they never came back up.  So I learned to sell early in a freefall and wait to buy later.  But I don't think it will go back up from when it hits bottom at $3.

You clearly don't remember when bitcoins were worth PENNIES. Also, how do you know it never came back up? That investment could be worth a fortune now, just look at Apple (APPL) as of right before Jobs resigned and compare it to stock prices in the 80's.

If you love me, you'd give me a Satoshi!
BTC - 1MSzGKh5znbrcEF2qTrtrWBm4ydH5eT49f
LTC - LYeJrmYQQvt6gRQxrDz66XTwtkdodx9udz
Minsc
Full Member
***
Offline Offline

Activity: 210
Merit: 100


View Profile
September 06, 2011, 05:52:36 PM
 #5

Bitcoins are not going back up.

1DcXvfJdeJch9uptKopte5XQarTtj5ZjpL
the founder
Sr. Member
****
Offline Offline

Activity: 448
Merit: 251


Bitcoin


View Profile WWW
September 06, 2011, 05:52:46 PM
 #6

this is why it's down... period.  end of discussion.

http://www.flexcoin.com/calc

It's just pure economics.. nothing more.  nothing less.


Bitcoin RSS App / Bitcoin Android App / Bitcoin Webapp http://www.ounce.me  Say thank you here:  1HByHZQ44LUCxxpnqtXDuJVmrSdrGK6Q2f
rebuilder
Legendary
*
Offline Offline

Activity: 1615
Merit: 1000



View Profile
September 06, 2011, 05:57:43 PM
 #7

Bitcoins are not going back up.

So you think the experiment has failed, and Bitcoin will never gain further use as a currency?

Selling out to advertisers shows you respect neither yourself nor the rest of us.
---------------------------------------------------------------
Too many low-quality posts? Mods not keeping things clean enough? Self-moderated threads let you keep signature spammers and trolls out!
legolouman
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


Decent Programmer to boot!


View Profile
September 06, 2011, 06:03:39 PM
 #8

That's fine, if you say that bitcoins are no longer an effective investment. I'll just take all of your coins, so you don't even have to try and liquidate them.


See you're not going to do that, because you are going to wait for coins to go up (even if slightly) before you sell. You have faith in the system.

If you love me, you'd give me a Satoshi!
BTC - 1MSzGKh5znbrcEF2qTrtrWBm4ydH5eT49f
LTC - LYeJrmYQQvt6gRQxrDz66XTwtkdodx9udz
Gerken
Full Member
***
Offline Offline

Activity: 126
Merit: 100


View Profile
September 06, 2011, 06:05:22 PM
 #9

That's fine, if you say that bitcoins are no longer an effective investment. I'll just take all of your coins, so you don't even have to try and liquidate them.


See you're not going to do that, because you are going to wait for coins to go up (even if slightly) before you sell. You have faith in the system.

No he has faith in the not so smart people who think it's going to go back up to 10 or 12 and will buy in, only to be caught holding the bag when it continues its long slow slide into obscurity. 

arsenische
Legendary
*
Offline Offline

Activity: 1199
Merit: 1012


View Profile
September 06, 2011, 06:08:35 PM
 #10

this is why it's down... period.  end of discussion.

http://www.flexcoin.com/calc

It's just pure economics.. nothing more.  nothing less.



Playing with numbers in your form someone can get impression, that if new money doesn't come to bitcoin economy, then bitcoin would drop to 0. But it is not true. If new value doesn't come and the value doesn't leave the system, then it will just inflate slowly until it reaches some minimum (which is much greater than 0). And then it will deflate since some bitcoins are being lost everyday.

legolouman
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


Decent Programmer to boot!


View Profile
September 06, 2011, 06:11:06 PM
 #11

That's fine, if you say that bitcoins are no longer an effective investment. I'll just take all of your coins, so you don't even have to try and liquidate them.


See you're not going to do that, because you are going to wait for coins to go up (even if slightly) before you sell. You have faith in the system.

No he has faith in the not so smart people who think it's going to go back up to 10 or 12 and will buy in, only to be caught holding the bag when it continues its long slow slide into obscurity. 


Well, so you are saying that the market, while having a strong community can just vanish out of thin air for no reason? We are all still sitting here, and so are the big guys with large fortunes of BTC. How can all of that money just disappear?

If you love me, you'd give me a Satoshi!
BTC - 1MSzGKh5znbrcEF2qTrtrWBm4ydH5eT49f
LTC - LYeJrmYQQvt6gRQxrDz66XTwtkdodx9udz
N12
Donator
Legendary
*
Offline Offline

Activity: 1610
Merit: 1010



View Profile
September 06, 2011, 06:12:57 PM
 #12

We are all still sitting here, and so are the big guys with large fortunes of BTC. How can all of that money just disappear?
http://www.youtube.com/watch?v=RAKsMnAM8vk
piuk
Hero Member
*****
Offline Offline

Activity: 910
Merit: 1005



View Profile WWW
September 06, 2011, 06:14:52 PM
 #13

How can all of that money just disappear?

Most of it has been spent on electricity and hardware.

mobodick
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000



View Profile
September 06, 2011, 06:15:04 PM
 #14

I think everyone should tough it out, so to speak, and buy buy buy.

Riight, and then, when the price is high again, the miners can dump more bitcoin and the price will drop again.
 Cool
legolouman
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


Decent Programmer to boot!


View Profile
September 06, 2011, 06:17:32 PM
 #15

By dumping into the market, people will buy it, and then spend it on hardware, and then... THAT'S HOW A CURRENCY WORKS.

As for the poof! video, the bitcoins are sitting somewhere, waiting to be bought. That means there is potential money in the system.

If you love me, you'd give me a Satoshi!
BTC - 1MSzGKh5znbrcEF2qTrtrWBm4ydH5eT49f
LTC - LYeJrmYQQvt6gRQxrDz66XTwtkdodx9udz
Gerken
Full Member
***
Offline Offline

Activity: 126
Merit: 100


View Profile
September 06, 2011, 06:49:57 PM
 #16

By dumping into the market, people will buy it, and then spend it on hardware, and then... THAT'S HOW A CURRENCY WORKS.

As for the poof! video, the bitcoins are sitting somewhere, waiting to be bought. That means there is potential money in the system.


legolouman
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


Decent Programmer to boot!


View Profile
September 06, 2011, 07:46:23 PM
 #17

By dumping into the market, people will buy it, and then spend it on hardware, and then... THAT'S HOW A CURRENCY WORKS.

As for the poof! video, the bitcoins are sitting somewhere, waiting to be bought. That means there is potential money in the system.





mmmm I smell copypasta.

If you love me, you'd give me a Satoshi!
BTC - 1MSzGKh5znbrcEF2qTrtrWBm4ydH5eT49f
LTC - LYeJrmYQQvt6gRQxrDz66XTwtkdodx9udz
osmosis
Sr. Member
****
Offline Offline

Activity: 300
Merit: 250



View Profile
September 06, 2011, 08:19:22 PM
 #18

this is why it's down... period.  end of discussion.

http://www.flexcoin.com/calc

It's just pure economics.. nothing more.  nothing less.


"This number is the absolute fact of what is needed to be added to the bitcoin community in order to keep prices stable. This number can be a mixture of dollars, yen, euros, gold, silver or whatever currency of choice. It can also be the dollar value of services and products being bought for bitcoins (not just offered) but the total dollar figure MUST equal the amount listed above."

I know its a fact that 216,000 new bitcoins are minted each month, but I dont see that it necessarily correlates with the price. You are assuming that 216,000 new bitcoins are being sold each month. If a miner is minting these coins and simply holding them because he believes they will be worth more in the future, then they would not in any way effect the current exchange rate. I do not know how many miners are holding their coins for the future, and how many miners are dumping their coins on the exchanges.
Minsc
Full Member
***
Offline Offline

Activity: 210
Merit: 100


View Profile
September 06, 2011, 08:21:43 PM
 #19

Bitcoins are not going back up.

So you think the experiment has failed, and Bitcoin will never gain further use as a currency?


I think it's just overpriced.  I wrote this on another thread and I think it sums it up: Mining needs to be a literal loss of money after electricity so all those people mining for profit stop and the only miners are people who find it too burdensome to buy bitcoins--this way it helps by getting lots of new buyers of bitcoin related goods.  https://bitcointalk.org/index.php?topic=41886.0

1DcXvfJdeJch9uptKopte5XQarTtj5ZjpL
tomcollins
Full Member
***
Offline Offline

Activity: 182
Merit: 101


View Profile
September 06, 2011, 08:26:23 PM
 #20

this is why it's down... period.  end of discussion.

http://www.flexcoin.com/calc

It's just pure economics.. nothing more.  nothing less.


"This number is the absolute fact of what is needed to be added to the bitcoin community in order to keep prices stable. This number can be a mixture of dollars, yen, euros, gold, silver or whatever currency of choice. It can also be the dollar value of services and products being bought for bitcoins (not just offered) but the total dollar figure MUST equal the amount listed above."

I know its a fact that 216,000 new bitcoins are minted each month, but I dont see that it necessarily correlates with the price. You are assuming that 216,000 new bitcoins are being sold each month. If a miner is minting these coins and simply holding them because he believes they will be worth more in the future, then they would not in any way effect the current exchange rate. I do not know how many miners are holding their coins for the future, and how many miners are dumping their coins on the exchanges.

If he mines them and holds them, he is effectively buying then since there are costs to acquiring and he is passing up the opportunity to sell them.
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!