Ingredients for the next price rally

[Dafar]

We all know some good things are happening in the background... like Neo & Bee's launch at Cyprus for bitcoin banking + debit cards, and the news about a whole slew of bitcoin ATMs being deployed world wide, including America... and these are being shadowed by the Gox drama right now. But they are still good prospects for later in 2014


Combine that with these hypotheticals:

-MtGox bitcoins are recovered and returned to their owners
-SecondMarket bitcoin Exchange in NYC launches at the same time or shortly after

Those 2 things, while unlikely they are not impossible, will be a huge change of pace form the last 3 months of negative news... this would definitely spark a sharp rally breaking ATH and going past $2000. At least that's what I think.


PS- just making this post so incase this happens I can be like.. I told you so

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[TheBison]

A ton of Bay Area VC money (Andreessen Horowitz, Google Ventures, Founders Fund, etc.) has been pouring into Bitcoin-related startups. Prepare for a lot more user-friendly services/products to open the door for more newbies.

Winklevoss ETF is on its way too.

[franky1]

what i have noticed is alot of large trades are happening privately where some are contacting people via IRC. this means that some people are not buying the sell wall to make the price rise.

i think thats why the price has been stagnant below $1k for the last couple months. we need to be ensuring that exchanges are licenced and that big players are buying coins on exchanges to truly affect the price.

as for things like the winklevoss eft.. pfft they are not helping with bitcoin prices. they are just promoting bitcoin but making money away from actual bitcoins.
the EFT is asking people to basically buy shares of THEIR COMPANY. which is valued at 1% of total bitcoins. if bitcoins rises (unrelated to the EFT) then the EFT would appear to be more valuable. making investors money without actually buying any bitcoins. if the twins later wanted to buy more bitcoins they have and will again buy it from private trades, which again does not improve the bitcoin price.

the twins do not care about the price, they just care that investors have bought their shares (so now their FIAT rich) and taking a commission per trade. even if they never bought a single btc ever again, they will still make funds.

never ever buy from these FIAT loving investment companies.. always buy real bitcoins from real exchanges if you want to help

[Dafar]

what i have noticed is alot of large trades are happening privately where some are contacting people via IRC. this means that some people are not buying the sell wall to make the price rise.

i think thats why the price has been stagnant below $1k for the last couple months. we need to be ensuring that exchanges are licenced and that big players are buying coins on exchanges to truly affect the price.

So that basically means bitcoins are circulating instead of being taken off the market? It shouldn't be that way when demand catches up to supply

A ton of Bay Area VC money (Andreessen Horowitz, Google Ventures, Founders Fund, etc.) has been pouring into Bitcoin-related startups. Prepare for a lot more user-friendly services/products to open the door for more newbies.

Winklevoss ETF is on its way too.

The Facebook twin's ETF won't come out til next year most likely.. but im looking forward to that too

[Dafar]

A ton of Bay Area VC money (Andreessen Horowitz, Google Ventures, Founders Fund, etc.) has been pouring into Bitcoin-related startups. Prepare for a lot more user-friendly services/products to open the door for more newbies.

Winklevoss ETF is on its way too.

I assure you that every VC in their right mind is pumping the breaks on any and all btc startup deals

The btc infrastructure took a SERIOUS hit, it's not just what actually took place with Mt Gox, however if it is allowed to go uncovered, it could be duplicated over and over again.  That's a broken system, not just a bad player.

So don't expect those deals to close even if they have "commitments".

Actually this sounds more like a bad player than a broken system.

There's a lack of security and regulation right now that allows the players to be as incompetent as MtGox... that does not mean the system (bitcoin/protocol itself) is broken

[greenlion]

Price discovery on Bitcoin is still in its infancy because the chilling effects of milquetoast governments is preventing ordinary people from having convenient access to Bitcoin trading. Insane MSB regulations make startups in this space practically a non-starter in the United States.

It's plausible that things like the Secondmarket Dutch auction system will propel a new rally of pent-up interest and demand. The future is not MSB class startups, it's existing professional firms with all the necessary infrastructure in place deciding to incorporate Bitcoin into their operations / services.

[franky1]

ingrediants for a price rally.

all you need is to show everyone this image, and then mention bitcoins afterwards

[gjgjg]

IMO the price is not going anywhere until: a mainstream marketing campaign for a BTC exchange/wallet/atm or other product is launched - coupled with a new simple, easy to use and accessible (apple like product, im loathed to say) for the mass market which allows people to buy and sell/spend btc.

Theres a lot of bad press and sentiment tagged to btc right now in the media (despite the positive developments with the back-end) and there's an access barrier for joe random with the current channels (even the atms are not enough; they need to be simplified and or publicised).

In order to challenge the bad press, advertising and marketing dollars need to come in (ad space on the NYT, WSJ, CNBC, Fox etc), once the BTC world becomes a sponsor of CNBC etc then Warren Buffett et al will have a harder time to come on these stations and say 'BTC is a mirage'. BTC needs to play the old school game in order to beat them with this point.

And in order to get joe public to overcome the psychological barriers to mainstream adoption, the products and purchase channels need to be more accessible. I went to buy some BTC at an Atm last week and i couldnt bcs i didnt have my passport with me. wtf? i already went through all those hoops with bitstamp, cant i just stick e20 in and scan my wallet's qr code (which is already a lot of hassle for most people). This stuff needs to be simpler so apple users get it; like - put e20 in and it prints a qr code with e20 worth of btc 'on it'. No passports, no fuss. The atms are already limited so launderers cant put in too much at a time, so whats the problem?!

The issue i can see with the current adoption approach: slowly educating everyone with creeping word of mouth, is that the reglatory bodies have a chance to get their preventative measures in first. And if they do, its an extra barrier to overcome - which a marketing campaign might not he able to overcome - if the worst happens and btc is heavily restricted, then joe public is aware of btc, but finds it hard to adopt and gives up. So if its going to happen it should be now imo...

After writing all this i think im going to start a kick starter project for a btc advert campaign... whos with me?!