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Author Topic: Prediction: Stable price and no huge random price swings with no Bitcoinica  (Read 1245 times)
Elwar
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May 23, 2012, 05:59:46 PM
 #1

Have you noticed the lack of huge dips now that Bitcoinica is out of commission?

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Mushoz
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May 23, 2012, 06:32:19 PM
 #2

Have you noticed the lack of huge dips now that Bitcoinica is out of commission?


Like it has been stable for the last ~3 months? Yes, I have.
Did you notice to huge bubble to 32, and then back down to 7 before Bitcoinica ever entered the market? Yes, I have.

If anything, the shorting Bitcoinica offered was probably good for the economy, because it kept price rises in check.

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May 23, 2012, 06:53:41 PM
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If anything, the shorting Bitcoinica offered was probably good for the economy, because it kept price rises in check.

+1 Bitcoinica gave the market the tools to make bets in all directions and through game theory eventually the only possible outcome is a relatively stable price. Not to worry thought because if no one else it looks like kronos will soon fill the void left by Bitcoinca.

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Mushoz
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May 23, 2012, 07:05:44 PM
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If anything, the shorting Bitcoinica offered was probably good for the economy, because it kept price rises in check.

+1 Bitcoinica gave the market the tools to make bets in all directions and through game theory eventually the only possible outcome is a relatively stable price. Not to worry thought because if no one else it looks like kronos will soon fill the void left by Bitcoinca.

Yes, and Bitcoinica wasn't just a stabilizing factor on the market. It finally gave people something to hedge with. It's absolutely crucial that that is possible. Without it, people and companies dealing in a lot of BTC are exposing themselves to price swing risks. And without Bitcoinica, those swings are going to be bigger than they have been the last couple of months. Of course, for a business, such risks are simply unacceptable.

So much for wide acceptance of Bitcoin. *sigh*

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June 03, 2012, 07:48:02 PM
 #5

Have you noticed the lack of huge dips now that Bitcoinica is out of commission?

Personally I think the price history of BTC/USD would be roughly the same with or without Bitcoinica. People too easily blame some ghost in the room, when the main driver of market behavior is just the great collective opinion of subjective and emotional people.
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June 04, 2012, 07:32:39 PM
 #6

IMO, a Pirate default or a major story on Bitcoin will move the price of Bitcoin a lot more than any of the individual exchanges going up or down.
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