Was Bitcoin actually just a Pump and Dump?

[bitbunnny]

I don't think that it will reach 1000$ again. Probably it will stay at 400$ aprox.

[ajw7989]

I agree the concept and potential of bitcoin is endless. It is an international universal currency that is decentralized. The hardest part for bitcoin though is consumer education and the learning curve. Many people have heard of bitcoin whether it be in the news or from friends however they have little interest in it since they do not fully understand its use/potential. Even a lot of the companies that adopt it are just converting to fiat and use bitcoin for profit. For bitcoin to be successful it would need a major event like an ETF in the US stock market.

[ninjaskip]

I agree the concept and potential of bitcoin is endless. It is an international universal currency that is decentralized. The hardest part for bitcoin though is consumer education and the learning curve. Many people have heard of bitcoin whether it be in the news or from friends however they have little interest in it since they do not fully understand its use/potential. Even a lot of the companies that adopt it are just converting to fiat and use bitcoin for profit. For bitcoin to be successful it would need a major event like an ETF in the US stock market.

It used to be decentralized, now is centralized.
Massive farms and a few pools made it that way.

A loads of people heard about bitcoin because it went from 10 dollars to 1100 dollars in no time.
Just a hand full of people became rich with little investment.

Since then everyone that bought bitcoin became a bag holder.
Now there is a bunch of unhappy people waiting for the next pump to get out.

Loads of scams, thefts,no prosecutions. (Karpelles showed everyone else the ropes)

In a real day to day use bitcoin needs at least 10 to 15 years to be adopted by the masses, and that will include the bank system to adopt it.

Karpelles said back in the day just before he stole around 500million dollars worth of bitcoins that Bitcoin was just an experiment.
But time will tell.

[Holderbert]

*Highly* doubtful.

BTC was being worked on long before it was first released to the public.  To that extent, it's taken well more than a decade to get to where we are now.  Add that to the fact that the vast amount of BTC known to be mined by Satoshi is unspent, and it all points to BTC being a legitimate project with a long-term scope.

The fact that Satoshi's btc remain unspent, proves imo that it wasn't initially created to be a "pump and dump".

[Bit!Dragon]

Hello m new   would like to start with Economy.
Bitcoin is definitely no pump and dump if Dell and other big brands are in than it couldn't be and since Computer's have become our daily life there should be a digital currency.

[yrask]

Bitcoin in this period is more Dump than Pump  . Hope to see a good raise of price within the end of year and the start of the next year

[picolo]

*Highly* doubtful.

BTC was being worked on long before it was first released to the public.  To that extent, it's taken well more than a decade to get to where we are now.  Add that to the fact that the vast amount of BTC known to be mined by Satoshi is unspent, and it all points to BTC being a legitimate project with a long-term scope.

The fact that Satoshi's btc remain unspent, proves imo that it wasn't initially created to be a "pump and dump".

  You mean he waits for the price to be high to dump? What price would he be waiting for?? The Satoshi's addresses are untouched and if they began to be spend the price would go down.

[leopard2]

No. Bitcoin is a brilliant invention that can change the world like the internet did.

However, it is being destroyed by criminals: private scammers and government scammers.

Without them, price would be well over $10 000 today.

[picolo]

No. Bitcoin is a brilliant invention that can change the world like the internet did.

However, it is being destroyed by criminals: private scammers and government scammers.

Without them, price would be well over $10 000 today.

Commodity prices are going down but they will go back up as fiat is created and Demand stays solid; it is a temporary set back.

[WhatsBitcoin]

It was when bitcoin went from $200 to $400 in days. At that point, all price economics went out the window and hello to the big owners with their market skimming and influencing forces.

[picolo]

It was when bitcoin went from $200 to $400 in days. At that point, all price economics went out the window and hello to the big owners with their market skimming and influencing forces.

When the price goes down people get depressed and pessimistic and sell. When the price will go up again while the US economy will go to the toilets, excitation and greed will prop up the price to (relative) high levels.

[leex1528]

Anyone think Bitcoin will go below 100 in the next 2 months? 

[ninjaskip]

Anyone think Bitcoin will go below 100 in the next 2 months? 

Not sure when but i think it will go below 100 before mid 2015.

[STT]

I thought 100 was a possible reset area because its roughly where it launched from last year.    If it was to reverse typically it would be very brief and alot of volume.  A quote from George Soros is, Volatility is greatest at turning points, diminishing as a new trend becomes established.  Also volume usually spikes however its often very hard to tell at the time

[picolo]

I thought 100 was a possible reset area because its roughly where it launched from last year.    If it was to reverse typically it would be very brief and alot of volume.  A quote from George Soros is, Volatility is greatest at turning points, diminishing as a new trend becomes established.  Also volume usually spikes however its often very hard to tell at the time

We are not in early 2013, a lot has happened. 100$ seems very low.

Anyone think Bitcoin will go below 100 in the next 2 months? 

If people panic sell we could see new lows of 270$ 240$ or maybe a bit lower but it is likely that we will go up amha.

[akashborikar]

Bitcoin worth if its price will increase upto $1000 and we can make profit from it.

[picolo]

Bitcoin worth if its price will increase upto $1000 and we can make profit from it.

People who sell at 1000$ will be very happy to get their 30%-200% profit but they will buy back at a few thousands Dollars or look the price go up to 20,000$ and more while they are not invested.

[Denker]

So we gettin a nice little increase at the moment. Let's see how high we will go. I think not that much.Something like 350$ I guess. This year not much will happen anymore. But a bottom somewhere around 200$ I don't believe in.Let's hope we can stay somewhere around 320-350$ over christmas.That would be nice.If it goes higher I'm happy.

[picolo]

So we gettin a nice little increase at the moment. Let's see how high we will go. I think not that much.Something like 350$ I guess. This year not much will happen anymore. But a bottom somewhere around 200$ I don't believe in.Let's hope we can stay somewhere around 320-350$ over christmas.That would be nice.If it goes higher I'm happy.

400$ for Christmas then 500$ for New year and a huge rally to a new ATH would be nice. 320-350$ is what we already have

[youngmike]

Bitcoin worth if its price will increase upto $1000 and we can make profit from it.

People who sell at 1000$ will be very happy to get their 30%-200% profit but they will buy back at a few thousands Dollars or look the price go up to 20,000$ and more while they are not invested.

Keep believing  But don't invest money you can't afford lost