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Author Topic: why the bitcoin price is going down ?  (Read 3790 times)
kaykawa
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October 04, 2014, 11:18:58 AM
 #1

What is the main reason?

You are holding your coins ?

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October 04, 2014, 11:59:45 AM
 #2

more and more merchants suddenly accepting bitcoin and not enough people buying more btc. The merchants are also converting the btc back to fiat and that also drives the price down.. good time to buy.

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kaykawa
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October 04, 2014, 12:01:32 PM
 #3

more and more merchants suddenly accepting bitcoin and not enough people buying more btc. The merchants are also converting the btc back to fiat and that also drives the price down.. good time to buy.

i'm was thinking the same... the are selling too fast at low price  Undecided

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October 04, 2014, 12:06:19 PM
 #4

more and more merchants suddenly accepting bitcoin and not enough people buying more btc. The merchants are also converting the btc back to fiat and that also drives the price down.. good time to buy.
Absolutely! The question is how to push up the demand of bitcoin. When the price is low enough and really bargain for consumers. More people will rush to buy bitcoin. The price will skyrocket.

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October 04, 2014, 12:10:32 PM
 #5

I'll wait for below 100 threshold before considering placing the buy order  Grin

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October 04, 2014, 12:14:27 PM
 #6

localbitcoins is still above $400 while sheeple are panicing while looking at the crappy btc-e/bitstamp small valuations

wake up sheep theres less actual bank movements on exchanges compared to localbitcoins

stop valuing bitcoins 13 million coins based on movements of just 200 coins!!!!

exchanges are just bot movements on a mysql database..


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October 04, 2014, 12:17:09 PM
 #7

more and more merchants suddenly accepting bitcoin and not enough people buying more btc. The merchants are also converting the btc back to fiat and that also drives the price down.. good time to buy.

i'm was thinking the same... the are selling too fast at low price  Undecided

Most merchants are not interested in Bitcoin itself.

They see that it potentially can get them extra revenue, and that's the main reason for them to accept it.

And also, any payments made with Bitcoin will directly be converted to Fiat Currency, unless the merchant decide to keep the coins.

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October 04, 2014, 12:19:08 PM
 #8

Merchants are real businessmen that used Bitcoin for marketing stunt and short term attention.

They don't actually believe in magic bean money and that's why they sell it on the spot.

Merchants are not stupid, bag holders and lazy nerds are the stupid ones here.
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October 04, 2014, 12:19:57 PM
 #9

I'll wait for below 100 threshold before considering placing the buy order  Grin

Really?

The lowe price for bitcoin will be 300.

lower than that... miners will turn off their miners.

imho

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October 04, 2014, 12:20:25 PM
 #10

localbitcoins is still above $400 while sheeple are panicing while looking at the crappy btc-e/bitstamp small valuations

wake up sheep theres less actual bank movements on exchanges compared to localbitcoins

stop valuing bitcoins 13 million coins based on movements of just 200 coins!!!!

exchanges are just bot movements on a mysql database..



you do understand that nobody is even buying on LBC.  plus it is super over priced because of high fees and chances of loss due to scam or disputes.
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October 04, 2014, 12:24:57 PM
 #11

localbitcoins is still above $400 while sheeple are panicing while looking at the crappy btc-e/bitstamp small valuations

wake up sheep theres less actual bank movements on exchanges compared to localbitcoins

stop valuing bitcoins 13 million coins based on movements of just 200 coins!!!!

exchanges are just bot movements on a mysql database..



shhhh I'm still trying to let them drive the price lower for cheep coinz!

waterpile
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October 04, 2014, 01:00:27 PM
 #12

What is the main reason?

You are holding your coins ?

sorry for those 2014 holders its a loss for them.
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October 04, 2014, 01:06:59 PM
 #13


You are holding your coins ?

Continuing to accumulate and use Bitcoins as much as possible Smiley

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October 04, 2014, 01:23:38 PM
 #14

I'll wait for below 100 threshold before considering placing the buy order  Grin

Really?

The lowe price for bitcoin will be 300.

lower than that... miners will turn off their miners.

imho

Has anybody considered the possibility that Chinese and Russian miners pay almost nothing in electric because of kickbacks? Even soverign nations might be mining and dumping at this point

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October 04, 2014, 01:28:40 PM
 #15

Why? I'm guessing pure manipulation by one or a few whales.
If you look at the order books you see there's almost no selling pressure. So basically nobody is crazy enough to sell at these prices except a few that want to trigger panic, which will work at some point of course. Then they buy back double... That's how you make money if you have money :p

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October 04, 2014, 01:40:37 PM
 #16

Merchants are not the reason for this price fall. Why would anyone pay with BTC anywhere, if the price is shitty. It's like selling BTC for $ now

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October 04, 2014, 02:23:27 PM
 #17

Merchants are not the reason for this price fall. Why would anyone pay with BTC anywhere, if the price is shitty. It's like selling BTC for $ now

Yea, 'cause bitcoin loses all it's utility when the price isn't considered to be high...
The least you could do before saying stuff like this, is read up on what bitcoin is, how it works, the philosophy behind it's various uses.

I still use bitcoin almost every day for purchases, i stack up again and i buy stuff with it, i try to accumulate some in the process for the long term to make profit.
It's as useful to me at $50 as it is at $5000.

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October 04, 2014, 02:26:29 PM
 #18

Normal for price to go down as high as 70%.

It has happen every year since it creation.

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October 04, 2014, 02:27:42 PM
 #19


You are holding your coins ?

Continuing to accumulate and use Bitcoins as much as possible Smiley

What's the highest you paid recently, and are you still holding them?
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October 04, 2014, 02:41:37 PM
 #20

Also I think Russia is getting out this week: http://www.coindesk.com/russia-proposes-fines-bitcoin/

a press release was posted elsewhere on bitcointalk that linked to a new release in Russian that allegedly said the central bank of Russia rejected the proposals due to it not being consistent with their objectives.  Either way, they are merely proposals.  And even full out laws banning bitcoin will likely have the same effect as if they attempted to ban bittorrent.

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