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Author Topic: Why BTC is having trouble breaking $360  (Read 4740 times)
fewcoins
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October 02, 2014, 03:59:32 AM
 #21

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Exactly! JUST YOUR OPINION! No billionaire has got rich off of digital currency & none of them will since they won't buy in. Most own many of their OWN businesses... Why would they want to be a sheep & follow the herd like all you nerds. These people make real investments in real things. Not some bullshit Ponzi/pyramid scheme. If anything they buid their own pyramid scheme with them AT THE TOP! Keep that false hope to yourself so others can actually save their money and not lose it to the scumbags manipulating this market.

But many wealthy people have invested heavily in the space. If you take this, and large VC money flowing in, you are presented with a pretty positive picture on where this is headed in the future. Finance / banking / Central Banking practices / CC's / Remittance etc are ripe for disruption.

The two downside possibilities to consider here are;

1.) That this is another dot com boom that will end badly

2.) That the protocol can be separated from the currency

I don't think we are 1 although the investments in tech lately are crazy (SnapChat, WhatApp etc in the billions) and are indirectly due to QE & bubbles. Also a large economic implosion won't help any industry initially.

And 2 is up for debate.




Yes wealthy people & Venture Capitalist have invested in heavily in BITCOIN BUSINESSES only due to no regulation & insane profit margin. Who besides Tim flat out bought btc??? Huh Huh
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Gundulmu
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October 02, 2014, 06:04:29 AM
 #22

I think there are plenty of buyers.  Just people playing the price swings right now. 

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October 02, 2014, 06:31:01 AM
 #23

Its up now Cheesy

Wish it reaches 400$ soon.

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October 02, 2014, 06:47:01 AM
 #24

things like this never happen in a few years ago, where the price of bitcoin has also been dropped, but after his bitcoin value will rise again gradually, this is caused by several things, among others, a decrease in market demand for bitcoin, the more his or bitcoin circulating in the market ... hopefully bitcoin prices will stabilize again ...  Cool

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October 02, 2014, 06:48:00 AM
 #25

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Exactly! JUST YOUR OPINION! No billionaire has got rich off of digital currency & none of them will since they won't buy in. Most own many of their OWN businesses... Why would they want to be a sheep & follow the herd like all you nerds. These people make real investments in real things. Not some bullshit Ponzi/pyramid scheme. If anything they buid their own pyramid scheme with them AT THE TOP! Keep that false hope to yourself so others can actually save their money and not lose it to the scumbags manipulating this market.

But many wealthy people have invested heavily in the space. If you take this, and large VC money flowing in, you are presented with a pretty positive picture on where this is headed in the future. Finance / banking / Central Banking practices / CC's / Remittance etc are ripe for disruption.

The two downside possibilities to consider here are;

1.) That this is another dot com boom that will end badly

2.) That the protocol can be separated from the currency

I don't think we are 1 although the investments in tech lately are crazy (SnapChat, WhatApp etc in the billions) and are indirectly due to QE & bubbles. Also a large economic implosion won't help any industry initially.

And 2 is up for debate.




Yes wealthy people & Venture Capitalist have invested in heavily in BITCOIN BUSINESSES only due to no regulation & insane profit margin. Who besides Tim flat out bought btc??? Huh Huh


So, if we say that the protocol cannot function without the currency, and the protocol is the aspect in which these big $$ people are investing (ie, in Bitcoin businesses), then what is the outcome if they become the new Amazons / Googles of blockchain derived businesses?
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October 02, 2014, 09:27:39 AM
 #26

Think we might actually see $100 again if nothing change.
CoinBateman
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October 02, 2014, 10:30:16 AM
 #27

The reason is obvious. The facts are that the supply is indeed increasing everyday, but they are increasing at the SAME rate per day. Network hash has increased but the number of coins minted remain the same. This was the case when 50 coins were the reward per block. During that time, BTC had no problems gaining large amounts of investment.

Now, the reward is halved and many people say that the supply of coins is forcing the price down because there aren't enough buyers?

How about the BTC ETF traded on the Nasdaq later this year? Winklvoss will require the ownership of a very very large amount of BTC to make issuing these ETF's on nasdaq viable. They sure as hell aren't buying it up at today's prices. Furthermore, they have a few hundred thousand BTC already, and believe me, it wouldn't take very much of their holdings to start a downwards trend.

When the time is right, they can also eat up BTC faster than anyone too.

Just be ready for end of the year, have plenty of btc ready.

@CoinBateman | Killer Crypto Instinct
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October 02, 2014, 11:47:09 AM
 #28

one simple reason: not enough buyers, miners can dump only a fixed amount, this mean that it's not their fault
and too much sellers

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October 02, 2014, 01:37:44 PM
 #29

one simple reason: not enough buyers, miners can dump only a fixed amount, this mean that it's not their fault
and too much sellers

Miners, cloud miners and shops/retailers that accept BTC dump a lot of BTC to the market to cover their FIAT expenses. They need $$$ right away, so sell at lowest exchange price.
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October 02, 2014, 04:21:48 PM
 #30

fewcoins, its a good thing you are an emotionally well balanced, happy individual with no lingering self confidence issues whatsoever

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October 02, 2014, 04:24:46 PM
 #31

I think it is all fault of the less stability of the price.
There are too many buyers  Smiley

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October 02, 2014, 07:03:44 PM
 #32

If satoshi dumps only 5% of his stash, price will easily break $360

fewcoins
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October 03, 2014, 07:42:37 AM
 #33

The reason is obvious. The facts are that the supply is indeed increasing everyday, but they are increasing at the SAME rate per day. Network hash has increased but the number of coins minted remain the same. This was the case when 50 coins were the reward per block. During that time, BTC had no problems gaining large amounts of investment.

Now, the reward is halved and many people say that the supply of coins is forcing the price down because there aren't enough buyers?

How about the BTC ETF traded on the Nasdaq later this year? Winklvoss will require the ownership of a very very large amount of BTC to make issuing these ETF's on nasdaq viable. They sure as hell aren't buying it up at today's prices. Furthermore, they have a few hundred thousand BTC already, and believe me, it wouldn't take very much of their holdings to start a downwards trend.

When the time is right, they can also eat up BTC faster than anyone too.

Just be ready for end of the year, have plenty of btc ready.

Actually that ETF isn't coming out... lmfao if you only knew man!
CoinBateman
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October 03, 2014, 09:41:12 AM
 #34

The reason is obvious. The facts are that the supply is indeed increasing everyday, but they are increasing at the SAME rate per day. Network hash has increased but the number of coins minted remain the same. This was the case when 50 coins were the reward per block. During that time, BTC had no problems gaining large amounts of investment.

Now, the reward is halved and many people say that the supply of coins is forcing the price down because there aren't enough buyers?

How about the BTC ETF traded on the Nasdaq later this year? Winklvoss will require the ownership of a very very large amount of BTC to make issuing these ETF's on nasdaq viable. They sure as hell aren't buying it up at today's prices. Furthermore, they have a few hundred thousand BTC already, and believe me, it wouldn't take very much of their holdings to start a downwards trend.

When the time is right, they can also eat up BTC faster than anyone too.

Just be ready for end of the year, have plenty of btc ready.

Actually that ETF isn't coming out... lmfao if you only knew man!

Am I missing something, what do you mean its not coming out?

@CoinBateman | Killer Crypto Instinct
Oscilson
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October 03, 2014, 01:16:22 PM
 #35

If satoshi dumps only 5% of his stash, price will easily break $360

1% will do the same.
yrask
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October 03, 2014, 01:31:42 PM
 #36

I see bitcoin price and miners like a dog which bites his tail because:

Miner get Bitcoin and then sell, price is moving down. Because there aren't many buyer, If trend will be this, price will fall to 0.

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October 03, 2014, 02:19:17 PM
 #37

Be careful, a lot of people have left digital currencies, I view it as just a fad.

Also don't expect the price to go back up just because it has in the past, it doesn't mean it will.

I don't see any new people coming into the digital currencies, just people leaving.



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October 03, 2014, 03:24:43 PM
 #38

^ You guys realize we are talking about BTC. All that alt coin stuff doesn't apply here. Last year I bought bitcoins for $145 then got scared from talk like this and sold for $45......then cryed myself to sleep when it hit $1300. Note there is a lot more going on in the world outside of bitcoin that affects the price. Everything is down right now because of what happened last month. Gold is going down to $700 a troy oz. The stock market is crashing.....bitcoin is a world currency, it may be decentralised, but it's still a world currency and gets affected by world events like any other currency. We need to be analyzing the US inflating the dollar last month that crashed gold, silver and the stocks. What about SWIFT and BRIC? What about the violence in the streets in China against their students and citizens right now? We need to focus on more than just miners selling coins and our BTC exchanges.

Sorry for the rant, just woke up, need coffee.

Note: Bitcoin was not created by some Kid with an idea on summer break. It was carefully designed by a person very skilled in game theory, encryption, economics, finance, programming, and law. We are heading to the phase (in the near future) of Satoshi's plan where the governments will start creating regulations about BTC. This will be the "Suspense & Drama" phase. The prices will fluctuate dramatically for awhile. When we reach that part of the game plan where the governments create regulations against the Bitcoin system that the people are already adapting to, these regulations will actually make the people resist and revolt against the old money system even harder. This also creates more people learning about Bitcoin and not wanting the old money system either. Because of this, the government, to some extent, will eventually have to give in. Smart contracts will be the beginning of the completion of the "Kola Ring" that was foreseen and designed into bitcoin by Satoshi. Like I said, this is wasn't created by some Kid. Bitcoin was not a whim, it was decades of contemplation, study and waiting on the advancement of systems needed for its implementation. Satoshi could see so far into the future, because he could see so far into the past. He surpassed Adam Smith by learning from the history of the Indians that went so much further back than anyone could have known.

*Updated to correct from  "present tense" to "near future".  ~Thanks


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October 03, 2014, 08:14:58 PM
 #39

I don't think we have reached that phase yet..it will be a little longer before that goes into effect.
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October 03, 2014, 08:20:49 PM
 #40

price below 360 $ already .
bitcoin dying Sad

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