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Author Topic: Why BTC is having trouble breaking $360  (Read 4736 times)
Oscilson
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October 06, 2014, 08:24:29 AM
 #61

All people thought having wider adaptation and merchant acceptance increase the value of bitcoin.

Little do we realize that only create more sell pressure due to merchant not willing to horde bitcoin.

If some merchants hoard or use BTC to pay bill, it will make some difference.
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October 06, 2014, 09:50:03 PM
 #62

If I was a merchant accepting btc, I'd immediately convert to fiat too. I wouldn't be able to risk the price fluctuations negating my profit margin.

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braum
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October 06, 2014, 09:58:58 PM
 #63

let me go take a dump, and then itll go up i think.  Smiley
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October 07, 2014, 12:10:27 AM
 #64

Guys we must admit... how can this bitcoin become the new revolutionary ecurrency if it loses 40% of value in a few days? The BTC protocol is not as robust as some of the up-and-coming coins. Additionally, the BTC consensus has led to monopolized mining. I am not sure what to think at this point

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October 07, 2014, 12:12:18 AM
 #65

Guys we must admit... how can this bitcoin become the new revolutionary ecurrency if it loses 40% of value in a few days? The BTC protocol is not as robust as some of the up-and-coming coins. Additionally, the BTC consensus has led to monopolized mining. I am not sure what to think at this point


Think what you want while the price continues to get dumped!
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October 07, 2014, 12:29:53 AM
 #66

Guys we must admit... how can this bitcoin become the new revolutionary ecurrency if it loses 40% of value in a few days? The BTC protocol is not as robust as some of the up-and-coming coins. Additionally, the BTC consensus has led to monopolized mining. I am not sure what to think at this point



Bitcoin is in its infancy and it isn't a currency although it may be seen as one in the future.

Look at it like Gold during the Gold Rush. Gold was volatile, never a currency yet accepted as payment, and still is.

You will note that, once Gold stabilised, post Gold Rush, USA used it to secure the dollar.

At present its definitely a commodity with currency properties. Once the masses start to use it, and that maybe a while and the price will be a lot higher and volatility will be lower then it will be a currency.

So, in summary, we are buying bitcoin in the hope that the value will rise to that required to be deemed a currency and, in the meantime, its true speculator heaven because of its volatility.


Hope that helps and

P.S. I am in for the long term but if i can sell on a drop and rebuy on the net rise and make 10 -20% i will have a lot of fun trying and be very happy
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October 07, 2014, 05:53:49 AM
 #67

Guys we must admit... how can this bitcoin become the new revolutionary ecurrency if it loses 40% of value in a few days? The BTC protocol is not as robust as some of the up-and-coming coins. Additionally, the BTC consensus has led to monopolized mining. I am not sure what to think at this point


The price of bitcoins and the robustness of the BTC protocol are totally unrelated.  Smiley

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October 07, 2014, 07:09:06 PM
 #68

Guys we must admit... how can this bitcoin become the new revolutionary ecurrency if it loses 40% of value in a few days? The BTC protocol is not as robust as some of the up-and-coming coins. Additionally, the BTC consensus has led to monopolized mining. I am not sure what to think at this point


The price of bitcoins and the robustness of the BTC protocol are totally unrelated.  Smiley

Well, I wouldn't say totally unrelated. Price is simply where supply and demand meet, but would there be much demand if the BTC protocol was bunk? The fact that the protocol is stable and works makes the demand possible.

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bajlox
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October 08, 2014, 11:22:02 AM
 #69

Price is down cuz most of coin are sold off market to private holder.
Think that this is way price is going down.

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October 08, 2014, 03:26:27 PM
 #70

Price is down cuz most of coin are sold off market to private holder.
Think that this is way price is going down.

There's no such thing as "off market" in bitcoin. Everything is on the blockchain.

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fewcoins
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October 09, 2014, 02:12:51 PM
 #71

Price is down cuz most of coin are sold off market to private holder.
Think that this is way price is going down.

There's no such thing as "off market" in bitcoin. Everything is on the blockchain.

He mean OTC over the counter sales, not on exchanges & not easily monitored... Some coins are sold person to person in the street (or meet up)
Jybrael
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October 13, 2014, 02:14:10 PM
 #72

Even if it is over the counter the transactions are still stored in the blockchain and most people usually buy at the market price online. There are those that will undersell though.
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October 13, 2014, 07:19:34 PM
 #73

Yes, it's all supply and demand and each of those is comprised of many complicated variables. Speculating on all the variables doesn't seem very fruitful, but I suppose that's not going to stop anyone from doing it.


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MrBig
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October 13, 2014, 07:37:47 PM
 #74

Amount of BTCers 10 000 000

Avg capital of BTCer 30k.

Avg capital ready to move into BTC 5k.

10 000 000 * 500 = 5 000 000 000


These numbers are not exact but the principle holds..  Manipulation, charts, trends, etc mean shit.

It all comes down to the amount of people that love Gold(BTC) * Capital they control that will be used to buy gold(BTC)

Proof? +10 000 years of history.

Those numbers are way off. There is definitely not 10 million BTC enthusiasts.
inca
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October 13, 2014, 07:40:40 PM
 #75

Amount of BTCers 10 000 000

Avg capital of BTCer 30k.

Avg capital ready to move into BTC 5k.

10 000 000 * 500 = 5 000 000 000


These numbers are not exact but the principle holds..  Manipulation, charts, trends, etc mean shit.

It all comes down to the amount of people that love Gold(BTC) * Capital they control that will be used to buy gold(BTC)

Proof? +10 000 years of history.

Those numbers are way off. There is definitely not 10 million BTC enthusiasts.

If there are just 5 million new enthusiasts buying up the next bubble then watch out.
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October 13, 2014, 07:41:38 PM
 #76

may be within 3 months it will reach 600. Now its right time to buy BTC.
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October 13, 2014, 07:52:58 PM
 #77

may be within 3 months it will reach 600. Now its right time to buy BTC.
Welcome.
MrBig
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October 13, 2014, 08:11:15 PM
 #78

Amount of BTCers 10 000 000

Avg capital of BTCer 30k.

Avg capital ready to move into BTC 5k.

10 000 000 * 500 = 5 000 000 000


These numbers are not exact but the principle holds..  Manipulation, charts, trends, etc mean shit.

It all comes down to the amount of people that love Gold(BTC) * Capital they control that will be used to buy gold(BTC)

Proof? +10 000 years of history.

Those numbers are way off. There is definitely not 10 million BTC enthusiasts.

If there are just 5 million new enthusiasts buying up the next bubble then watch out.

If the whole world buys into the next bubble then...

If more people start leaving bitcoin than buying into it...

We have been losing a lot of 'weak hands' investors lately, so you can cross out the if from the last statement.
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