Is the decline in the Bitcoin price OUR fault?

[CryptOliver]

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.

But in my opinion this correlation is only coincidental and related to certain factors. The recent decline in Bitcoin prices is due to increased investor concerns about regulatory tightening, banning cryptocurrency ads on social media and some banks that prohibit the use of credit cards to buy Bitcoin Cs.
The stocks have been hit by fears of a US-China trade war that continues to intensify. "In other words, the factors that drive Bitcoin prices are still somewhat different from other asset driving factors," said Capital Economics as quoted by CNBC International.

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[Denker]

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.

I think you can not blame the whales. In terms of Bitcoin's network effects we are mostly dealing with price speculation at the moment.
Therefore people want to make either more fiat or more Bitcoin.
But imo there is also a lot of dumb money in this space. And dumb often acts very emotional and pumps and dumps every altcoin, no matter how useless it is.
And we have to get rid off that money.Therefore those bear markets are good for. Now is the time to build, educate or leave the space if you can't handle those phase of the market cycle.

I also agree with OP to use your coins up to certain amount, depending on how much you own. I also use lightning network and play with it.
This thing will be absolutely huge in a few years and have a massive impact for future adoption.

[Gotumoot]

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.

There are many reasons why bitcoin price drops, and yes we our part of that. Many investors panic sell their bitcoin when its dropping, it was caused by the bad news spreading on the social media. But for me, the main caused of the dropping of bitcoin price is because of its volatility, and thats normal, because bitcoin is created to be volatile, it will increase or decrease unpredictable.

[Kakmakr]

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.

I also agree with OP to use your coins up to certain amount, depending on how much you own. I also use lightning network and play with it.
This thing will be absolutely huge in a few years and have a massive impact for future adoption.

Yes, the idea is not to use ALL your coins. You obviously have to hoard more than 80% for the rewards later, but you have to spend about 20% of the coins you buy to motivate merchants to keep on accepting bitcoins. The way I do this is to buy food daily from food merchants with bitcoins. <I just use the budget that I have for food and convert it to Bitcoin>

I would have spend the money on food in any way, I just pay with bitcoins and not with Fiat. 

[First77]

People who have 1000 Bitcoin will they risk $10,000,000 when Bitcoin fell from $20,000 to $6,000. These are the big sellers.

[kaya11]

If only local bitcoin ATMs can be installed in very party of every prospering city in the world, then people would be much interested and feel safe to use it as a currency. They would feel that it is accepted and not illegal and there fore would be removed from the thoughts of their mind that it is  a way to fraud others.

[eternalgloom]

~ 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.

~ 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> 

I can definitely understand that the more Bitcoin gets adopted by merchants, the more promotion it gets by all the Bitcoin logo's that are displayed.
It's just that, it would be double as effective if you could provide merchants with a payment soltution that allows them to keep part of their revenue as Bitcoins. I think Overstock is actually doing this btw.

Maybe smaller shops would be interested in only accepting Bitcoin, but it would be a pretty bad business strategy.
You'd want to attract as many customers as possible, if you only accept Bitcoin, you'd be turning away a lot of potential customers by default.
Offering discounts for using Bitcoin is a much better idea

[cacvy3]

At some point yes, it is our fault because we have probably bad and fake expectations about bitcoin (like a new bullrun) or some things that made people panic sell their coins, but this is normal

[Marlo Stanfield]

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. 

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. 

Personally, I don't really think that merchant adoption is what we need, or what is sufficient to sustain sky high prices. I think really the only thing that's going to support trillion dollar market caps or even half of that is global investment demand from the highest levels of international finance.

[ETHtotheMOON1]

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. 

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. 

it's our fault, you're right. Main fault is that we have in community too many people who don't understand the very basic rules of crypto and trading, let's change that

[budismile]

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. 

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. 

I agree with you that we should work harder to promote bitcoin so that investors can comfortably put their money on bitcoins, avoid any kind of problems that could aggravate bitcoin.
if the government can support bitcoin, I think investors will be queuing to put their money in bitcoin.
I hope the government can work together, so that the world economy can be maintained

[Kakmakr]

~ 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.

~ 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> 

I can definitely understand that the more Bitcoin gets adopted by merchants, the more promotion it gets by all the Bitcoin logo's that are displayed.
It's just that, it would be double as effective if you could provide merchants with a payment soltution that allows them to keep part of their revenue as Bitcoins. I think Overstock is actually doing this btw.

Maybe smaller shops would be interested in only accepting Bitcoin, but it would be a pretty bad business strategy.
You'd want to attract as many customers as possible, if you only accept Bitcoin, you'd be turning away a lot of potential customers by default.
Offering discounts for using Bitcoin is a much better idea

They already get that option when they use some of the Payment processors. You chose the option that suits your needs and your Crypto currency goals. If you want to hoard 20% of the coins you receive, then you configure the options in some of these Payment processors to do just that.

Bigger merchants can also do that. Just imagine if they give a huge discount on ONE popular item, if people pay with bitcoins? A electronic
goods store might sell all their XBox's for a huge discount and only offer this discount to people who pay with bitcoins. 

[cryptohopes]

You have given some very good tips which we should follow. And yes it is true that it is not only the other factors which are responsible for the current situation. We are responsible too. We must stop spreading FUDs and buy bitcoin as much as possible to increase the demand. We should also try to transact other things through bitcoin too.

[jzale]

It's not all about that at all. The market itself from it's supply and demand determines the price of BTC. It's been a talk that the whales are all behind this. Some say the market is being manipulated which has a point and with all the FUDs spreading. One thing for sure, without us, BTC is just a cryptocurrency. It's like a vehicle and we ride it. It won't move if there is no one who would drive right?

[East2011]

I think its not our fault if the bitcoins price decline. There are so many factors that can affect the bitcoin price. Like hackers and fake news against bitcoin. But maybe we can also contribute to the decline of bitcoin. Because of panic seller.

[JerryJam]

I don't think we should be looking for someone to blame.Only those who spread false and negative information are to blame.And those who believe sukham are doubly stupid.

[stompix]

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.

The decline in price is because more people are selling than are buying. Or the overall sums are lower.
And who can sell coins, only those that have coins in the first place, and that's us, those who use BTC.

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.

Yeah, right, how many times have we heard that already?
If BTC have no fundamental value can you please send all your satoshis to the address in my profile?

~ 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>
~ Help people to invest in Bitcoin.

With those 3 I don't agree.
First is that I hate ATMs and their fees, second because that's the decision anyone has to take for himself so you can't push people to do something they don't want and third because...
Hell, asking people to invest to prevent the boat from sinking, even more, it's like....you know the word. Pon....zzz....

[py359497e]

nice

[badakjawa]

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.

we know that some bitcoin markets are controlled by whales, but we can not blame the whales either, because whales do not panic the least, they are able to play around the market price. do you know that China is many become a whale and dominates bitcoin market?

so today's bitcoin drops are not due to panicked whales, but because selfish and greedy whales control part of the market so they are free to play the market.

[Kprawn]

I agree with this. We should get off our asses and stop waiting for developers to come up with new ideas to boost Bitcoin. I

already approached 3 new merchants today, to ask if they want to start accepting Bitcoin as a payment option and 2 of the

3 agreed. One is a little Burrito shop and the other a Shoe shop. We need to work out the specifics, but I helped them with the

basics. This post motivated me today, to get off my own ass and to make a difference.