Bitcoin Forum
May 20, 2024, 11:20:14 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: The enemies of bitcoin price rise!  (Read 3819 times)
inca
Legendary
*
Offline Offline

Activity: 1176
Merit: 1000


View Profile
November 02, 2014, 01:10:34 PM
 #21

I like bitcoin being stable, it makes people more willing to spend it. If price of bitcoin rises, let's say 10% per month, holders will postpone purchases because they will get a better deal.

Actually people spend bitcoins when the price has risen and tend to hoard them during price falls.

If people hoard them during the dumps, what causes the dump?
Considering we've seen a few big ones last months

Speculators, mining supply, speculators, speculators, speculators and speculators.
Arv1e
Member
**
Offline Offline

Activity: 71
Merit: 10


View Profile
November 02, 2014, 02:37:03 PM
 #22

list those who do not want the bitcoin price to take off?

What do they gain?



That would mostly be the current super elites, they have no reason to want bitcoin to take off:

1.) They already control money and resources on the planet
2.) They dont need bitcoin to move money fast & securely
3.) They make profit from the 3rd party money transaction confirmation system


Interesting throw away sound byte but totally flawed.

The super Elite (as you refer to them) became rich by design not accident. So if the super Elite motivated by money, as you are suggesting, then why are these people going to stifle a new technology which could make them EVEN MORE super rich.

You are confusing individuals with large established institutions. The institutions in the financial sectorare well established and make money from FIAT. They will be slow to change and highly resistant as it affects their bottom line and not seen to be in their interest.
For example: look at the turn of the millenium, Established Music Industry (institution) verses Napster (P2P technology not too dissimilar to Bitcoin infrastructure)
Music Industry spent billions in law suits in a vain attempt to stop progress. Yes they did stifle Napster but in less than 10 years the music industry lost out and embracing technology i.e. Spotify. The only difference is that Napster was a lone candle in the wind whereas Bitcoin is a lot more established, has global presence and ininity more difficult to stifle but they will keep trying!

Super Elite are wealthy indviduals who go where the profit is however they are also risk adverse so tend to jump on board AFTER early adoption and before its too late. At the moment its the tech Savvy super elite who are investing but its only a matter of time before more super elite choose to include Bitcoin within there portfolio.

To summarise, don't assume that super elite are smart enough to be wealthy yet stupid enough to miss out on an opportunity.. Thats why they are Rich! They are also cautious and risk adverse so will wait till they feel comfortable
leopard2
Legendary
*
Offline Offline

Activity: 1372
Merit: 1014



View Profile
November 02, 2014, 09:22:19 PM
 #23

Aliens...or, more likely, governments and high finance

https://www.youtube.com/watch?v=lYi0deWPibU

Truth is the new hatespeech.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!