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Author Topic: Is the decline in the Bitcoin price OUR fault?  (Read 216 times)
Kakmakr
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June 15, 2018, 07:56:54 AM
 #1

We have been looking for answers on why the Bitcoin price is falling, because we want someone to blame. We have seen the price going down from $19 000+ to $6500 and everyone is looking for the big reason to explain this.

We blamed the governments for regulations and we blame BCash supporters for selling us out and we have been blaming the Mt Gox guy for dumping the coins on the exchanges, but we have not looked at ourselves.  Roll Eyes

Did we forget that the price of Bitcoin is based on Supply and Demand and that we have to work hard to grow the demand? There are constantly coins being added from the mining side, but the demand side is not keeping up. Why?

Yes, the price increase to $19 000 was spurred on by speculative greed, but we should have grown faster to sustain that progress.

I think everyone of us is to blame, because we should work harder to, :

~ Approach local merchants to ask if they would accept Bitcoin.
~ Ask Merchants to install a Bitcoin ATM in your area.
~ Stop hoarding all our coins and start to buy from the merchants that does accept Bitcoin. <Or they will stop doing this>
~ Start using the Lightning Network to fast track the implementation.
~ Get SegWit addresses
~ Help people to invest in Bitcoin. <Open that wallet and give them some Satoshi to play with.

Let's stop blaming others and start working harder to grow the demand, then we will reap the rewards.  Wink

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June 15, 2018, 08:21:38 AM
 #2

Yes, the price increase to $19 000 was spurred on by speculative greed, but we should have grown faster to sustain that progress.
I think the decline in bitcoin price is not anybody's fault, because it is a given that anything that is purely driven by greed/speculative greed will sooner or later collapse and for bitcoin, the consequences of that greed, is the declining price we see today.
I think everyone of us is to blame, because we should work harder to, :
~ Ask Merchants to install a Bitcoin ATM in your area.
~ Help people to invest in Bitcoin. <Open that wallet and give them some Satoshi to play with.
I agree that we should work harder to do those other things that I have omitted in the quote, but it is not our responsibility to ask merchants to install a bitcoin ATM in our area because they will do that when they like whether we ask for it or not. Also, it is not our responsibility to give people to some satoshi to play with. They will use bitcoin if they like and if they don't want to use it, they will just dump that satoshi you gave or use it in gambling.
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June 15, 2018, 08:27:41 AM
 #3

It is true that more than half of the forum benefits from the sector rather than the high.

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June 15, 2018, 08:40:13 AM
 #4

Those people who are holding less amount of btc is not to blame. We can put the blame on those whales trying to dump all their coins just because of FUD. There are lot of investors right now who are too emotional and doesn't understand the volatility of the crypto market. When a sudden dip is happening they tend to panic sell all their coins and this could affect the performance of the market specially if you are holding huge amount of BTC.

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June 15, 2018, 09:03:09 AM
 #5

Those people who are holding less amount of btc is not to blame. We can put the blame on those whales trying to dump all their coins just because of FUD. There are lot of investors right now who are too emotional and doesn't understand the volatility of the crypto market. When a sudden dip is happening they tend to panic sell all their coins and this could affect the performance of the market specially if you are holding huge amount of BTC.

See, there we go again. We blame the whales. Tongue These whales are the strong hands of this community and they know that hoarding will bring the biggest return on their investment, because they have been doing it for so long. The short term investors are the ones dumping the coins, but that is normal for any speculative commodity.

We should do proper research and then destroy these FUDsters with the truth. Create counter arguments for all their FUD and take them on in public to shoot down the rubbish that they are spreading.  Angry

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June 15, 2018, 09:13:33 AM
 #6

Of course that it is our fault for not buying but selling and as you point out we are not spreading the word about it. The only bad thing about when prices go down is when you buy something with bitcoin some service/goods as you know prices will move up but you have to spend money now can't wait for more. Anyways when prices go down you really see how many people are in only for the money as many of them stop to excited but look at their prices all they long and blaming everything and everyone.

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June 15, 2018, 09:14:31 AM
 #7

This is the other side nobody has thought about. We all has a role to play to make bitcoin demand  soar and then there will increase in price which we are all looking for. The suggestion made here if followed will go along where to push up the bitcoin price.

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June 15, 2018, 09:24:26 AM
 #8

Of course that it is our fault for not buying but selling and as you point out we are not spreading the word about it. The only bad thing about when prices go down is when you buy something with bitcoin some service/goods as you know prices will move up but you have to spend money now can't wait for more. Anyways when prices go down you really see how many people are in only for the money as many of them stop to excited but look at their prices all they long and blaming everything and everyone.

This is the secret to the success of this experiment. When the price goes up, more people take notice and they start buying bitcoins. When the price goes down, people think it was a bubble and they turn their back on Bitcoin. We have to prove to people that Bitcoin is here to stay and that it has a real use case.

The only way to do that is to create the use case, by increasing merchant adoption < The logic is, if they see it everywhere, then they will accept it as the norm and not just a stupid craze.> We should work very hard to increase the demand and to strengthen the reasons for them to buy it. <Where is the Killer Bitcoin Applications?>  Huh

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June 15, 2018, 10:05:25 AM
 #9

Quote
~ Start using the Lightning Network to fast track the implementation.
~ Get SegWit addresses

How would this increase the price of Bitcoin?
It wouldn't really have any direct effect on the price, except it might just make Bitcoin look better because of lower fees and faster transactions.

Quote
~ Approach local merchants to ask if they would accept Bitcoin.
~ Stop hoarding all our coins and start to buy from the merchants that does accept Bitcoin. <Or they will stop doing this>

The thing with this is that most merchants immediately exchange their BTC to fiat, which would be driving the price down, not up.
If your constantly buying stuff with your coins, you're essentially lowering its value, since you're basically selling your Bitcoins to exchanges indirectly.


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June 15, 2018, 10:12:54 AM
 #10

I agree that we need to work harder to make bitcoin more popular, but somehow the government play important roles to be more acceptable to society, if the government banned bitcoin it can affect the investors, and with the recently exchanges being hacked, we can't avoid that the investors will become more careful to put their money, we should give more knowledge about bitcoin for all people, and encourage people to used bitcoin for good purposes

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June 15, 2018, 10:16:58 AM
 #11

But because the lightning network has not yet succeeded, bitcoin transfers have been slow.
It is not currently suitable for large-scale use, so that is why the price of bitcoin has not risen. Shocked

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June 15, 2018, 10:21:50 AM
 #12

I think the decline of Bitcoin is not a mistake. A market that wants to develop well must release the bubble. Cryptocurrency investment is now too hot. Must reduce the bubble. If it is too high, it will lose all investors.
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June 15, 2018, 10:40:26 AM
 #13

i cant say precisely that the decline in the price of bitcoin is the fault of any investors or the players. but the fact remains that in every economy and in every investment , there are always those we call the manipulators. this set of people are very strong and very important to the survival of such investment. this people determines the future of any investment. this are set of people that should be asked what was responsible for the downward trend of bitcoin.
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June 15, 2018, 10:45:12 AM
 #14

Quote
~ Start using the Lightning Network to fast track the implementation.
~ Get SegWit addresses

How would this increase the price of Bitcoin?
It wouldn't really have any direct effect on the price, except it might just make Bitcoin look better because of lower fees and faster transactions.

Quote
~ Approach local merchants to ask if they would accept Bitcoin.
~ Stop hoarding all our coins and start to buy from the merchants that does accept Bitcoin. <Or they will stop doing this>

The thing with this is that most merchants immediately exchange their BTC to fiat, which would be driving the price down, not up.
If your constantly buying stuff with your coins, you're essentially lowering its value, since you're basically selling your Bitcoins to exchanges indirectly.

The Lightning Network will make Bitcoin more effective and people might develop more Applications that use micro payments and the LN for these Applications. The LN also makes most Alt coins ineffective and the investments in these Alt coins might flow to Bitcoin.

Even if merchants convert directly to Fiat, people will still be buying it, because they want to spend it for services and products at these merchants. This will drive up the price, because there will be a increase in the demand. It will even be more effective, if these merchants only accept Bitcoin as a payment option. <like specials for people who pay with bitcoins>  Roll Eyes

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June 15, 2018, 10:59:21 AM
 #15

there were a lot of reasons behind this dump, the most important reason of it, were the dumb investors who bought at 20k and then they were crying because of it.

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June 15, 2018, 11:03:06 AM
 #16

~ Approach local merchants to ask if they would accept Bitcoin.
Agreed.

~ Ask Merchants to install a Bitcoin ATM in your area.
It's not as easy as it may seem. Depending on the country people are in, it may involve quite some legal hassle. The rewards for merchants likely don't justify the effort needed to deploy ATM's, and most ATM's are very expensive to use.

~ Stop hoarding all our coins and start to buy from the merchants that does accept Bitcoin. <Or they will stop doing this> 
Don't tell people what to do with their coins.

~ Start using the Lightning Network to fast track the implementation. 
Proper clients are lacking making it easy to use, it's too much of a hassle to set up a node, and it's not safe in current form if you don't fully know what you are doing.

~ Help people to invest in Bitcoin. <Open that wallet and give them some Satoshi to play with.
Investing is actually the last aspect that we should talk about. Obtaining a decent level of understanding is what I consider to be much more of a helping factor.

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June 15, 2018, 11:25:59 AM
 #17

We have been looking for answers on why the Bitcoin price is falling, because we want someone to blame. We have seen the price going down from $19 000+ to $6500 and everyone is looking for the big reason to explain this.

We blamed the governments for regulations and we blame BCash supporters for selling us out and we have been blaming the Mt Gox guy for dumping the coins on the exchanges, but we have not looked at ourselves.  Roll Eyes

Did we forget that the price of Bitcoin is based on Supply and Demand and that we have to work hard to grow the demand? There are constantly coins being added from the mining side, but the demand side is not keeping up. Why?

Yes, the price increase to $19 000 was spurred on by speculative greed, but we should have grown faster to sustain that progress.

I think everyone of us is to blame, because we should work harder to, :

~ Approach local merchants to ask if they would accept Bitcoin.
~ Ask Merchants to install a Bitcoin ATM in your area.
~ Stop hoarding all our coins and start to buy from the merchants that does accept Bitcoin. <Or they will stop doing this>
~ Start using the Lightning Network to fast track the implementation.
~ Get SegWit addresses
~ Help people to invest in Bitcoin. <Open that wallet and give them some Satoshi to play with.

Let's stop blaming others and start working harder to grow the demand, then we will reap the rewards.  Wink
the decline of bitcoin is influenced by supply and demand are not balanced, so like there is an imbalance in the price. But the real factor is the greed of any trader who triggers the market to be random, this will make it difficult for other traders to make decisions in the market. We all must have a greedy nature in us, but trying to change it still has time. Bitcoin requires our efforts to exist and to be useful. Then hoarding bitcoin is not a bad thing if it is within reasonable limits.
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June 15, 2018, 11:28:55 AM
 #18

This is a delicate question but i personally believe that the recent decrease of bitcoin price is really affecting the crypto world. the issue is that there a lot of investors who are dumping the coin making it lose it value. This is the time all holders of the coin whether larger or small have to cause an increase in demand of the coin rather than dumping them for the fear of it decreasing. remember we have a vital role to play to cause a change if this does not happened then we got to be blamed.
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June 15, 2018, 11:35:28 AM
 #19

We have been looking for answers on why the Bitcoin price is falling, because we want someone to blame. We have seen the price going down from $19 000+ to $6500 and everyone is looking for the big reason to explain this.

We blamed the governments for regulations and we blame BCash supporters for selling us out and we have been blaming the Mt Gox guy for dumping the coins on the exchanges, but we have not looked at ourselves.  Roll Eyes

Did we forget that the price of Bitcoin is based on Supply and Demand and that we have to work hard to grow the demand? There are constantly coins being added from the mining side, but the demand side is not keeping up. Why?

Yes, the price increase to $19 000 was spurred on by speculative greed, but we should have grown faster to sustain that progress.

I think everyone of us is to blame, because we should work harder to, :

~ Approach local merchants to ask if they would accept Bitcoin.
~ Ask Merchants to install a Bitcoin ATM in your area.
~ Stop hoarding all our coins and start to buy from the merchants that does accept Bitcoin. <Or they will stop doing this>
~ Start using the Lightning Network to fast track the implementation.
~ Get SegWit addresses
~ Help people to invest in Bitcoin. <Open that wallet and give them some Satoshi to play with.

Let's stop blaming others and start working harder to grow the demand, then we will reap the rewards.  Wink

Yes, somehow it is our fault since people are panicking and selling or their holdings and maybe just because people are shorting Bitcoin.


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June 15, 2018, 11:44:26 AM
 #20

The decline in Bitcoin prices could be even worse in the coming months. The reason, this digital currency (cryptocurrency) has no fundamental value.
This is the result of published Capital Economics research.
The London-based company said the price of Bitcoin Cs has been sufficiently correlated with the S & P 500 index since its price has dropped from the highest price at the end of 2017.
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