very simple question

[flounderella]

Consistent selling pressure from mined bitcoins to make ROI as well as most payment processors immediately converting to fiat when they process payments.

At this point, it's still worth it. Miners will mostly dump until hitting ROI, then keep some, but also take profit.
It won't be until the next halving that the BTC anti-inflationary action kicks in that we will see steady increases ant true market value. Until then, buy all you can...in 3 years y'all will be sittin' pretty.

I agree

[phillipsjk]

Here's a logical answer to your question regarding the Consensus Algorithm and Bitcoin Price Index:

https://www.youtube.com/watch?v=_-TLA3j-ic4

He fails to explain why monetary inflation is a bad thing during initial distribution. He argues that the price would be much higher with Proof-of-Stake: but fails to explain why that would be a good thing.

His marketing background ties into a conspiracy theory I am working on... essentially a PoS coin would be easier for the banking cartel to appropriate.

Edit: he gets into my first objections a little bit in the follow-up video. Yes I understand why large market cap is important. He fails to explain why we should expect it to happen faster than it already has.

[zimmah]

Constant sell pressure, not enough buy pressure yet.

Need more time for the buyers to match or even outnumber sell pressure. It will happen eventually.

[pitham1]

Constant sell pressure, not enough buy pressure yet.

Need more time for the buyers to match or even outnumber sell pressure. It will happen eventually.

I hope the price doesn't collapse to doomsday level lows before this happens. 

[Spaceman_Spiff]

you are not short selling a bitcoin at bitfinex

bitfinex is doing literally nothing when you short sell a bitcoin, other than taking profit on the spread. And then hoping you made a poor trade.

the only way bitfinex prices could actually affect other exchanges, is if other traders see the price is lower on BFX and decide to sell.

however you can be 100% sure that bitfinex is trading directly against its clients AKA you, exactly the same as the cheap Forex trading brokers. Some of them may try partially hedge risk by futures in FX, but there is no such luxury in bitcoinland, there is no solid counterparty to trade futures with.


for example, lets say most of bitfinex clients are long bitcoin on margin, say 3x long on margin.
Lets see the US govt accepts bitcoin as an alternative official currency for the US dollar in a surprise news release, and bitcoin moves to $10 000 within a few seconds of the news.

you can 100% be sure BFX will be broke and you can all kiss your money goodbye. They are not short selling, they are not hedging, they are taking money on the spread and then hoping you are all stupid traders.

You can borrow BTC at BFX to sell them.  How is that not shorting?  As for affecting other exchanges, that's what arbitraging is for. 

[gogxmagog]

If anything the institutional players are satoshi.

Here is why I am starting to think so; the institutional players (banks, govt, corporations, tech giants, and financial industry) have known for a long time that they need a digital solution LIKE Bitcoin, but since nothing quite like it has existed before and the transition from fiat-based to digital economy has never been witnessed before they need to do field research on test subjects. They also need to protect themselves from all the guinnea pigs that are going to suffer great losses when it fails.
Invent a crypto, attribute it to a made up person, then release it into the wild. Presto. They get to observe how crypto integration goes, how cryptos work in real world situations, and see what flaws and bugs may crop up, all "hands free" and totally insulated from any sort of culpability regarding disaster. When they have gathered all the info they need they can release a "new, improved" btc-style crypto that mostly suits thief own needs but gives the consumer what he really wants - security and convenience.

I hope I'm just paranoid and it isn't true, but it is one conspiracy theory I can see some probability in.

They do the same thing with experimental medicines, have done so for decades.

Banks and Governments would have never even allowed the IDEA of distributed open source ledgers where anyone can profit from participating as a middleman transaction verifier. It's a Power killer.
Plus, how do you convince everybody to stop using BTC and go to FedCoin or whatever?  Doesn't pass the smell test

You'll please forgive me if I dabbed a few to many pheonix tears and read that Bill Gates thing then got carried away. You are right, they ain't satoshi, but they most certainly are paying attention. If they could exploit a similar network they will, and if Bitcoin dies, they will also learn from this. Bill said the technology and utility are exciting but he also said he was specifically unsure if Bitcoin itself will be the one. He was careful to put that out there right away. I guess that says what you did as well though. They simply can't stand the fact that they don't own it!

[ajareselde]

Constant sell pressure, not enough buy pressure yet.

Need more time for the buyers to match or even outnumber sell pressure. It will happen eventually.

Problem with price decrease is that many people are looking to make a short-term profit, and they store their profit in fiat, rather than in crypto.
That is the main reason the price is, and will continue to descend, until something realy considerable changes.