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thms (OP)
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December 23, 2014, 05:10:50 PM |
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There are several currencies collapsing, such as:
- Venezuela Bolivar
- Argentina Peso
- Belarus Ruble
- Russian Rubble
- Nigeria
Why is the BTC price not increasing fast?
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thms (OP)
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December 23, 2014, 05:16:18 PM |
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Because everytime there is crisis in some part of the world, people post here expecting that people affected by this crisis will begin buying bitcoins.
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riiiiising
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December 23, 2014, 05:19:03 PM |
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Because contrary to bitcoin-er logic, people of Russia and other countries experiencing any type of currency crisis will NOT be putting their savings into bitcoin. They are much more likely to buy US dollar or Euros, or even precious metals before they touch an unregulated digital currency fraught with crime and thefts that has fallen drastically in value all year.
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Bernard Lerring
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December 24, 2014, 04:03:26 PM |
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Even if the people of these debt stricken countries were buying up BTC (which I would consider a smart investment) it may be that they are poor and buying fractions of a BTC. Maybe the average poor household can only afford to save 0.1 to 0.2 BTC and need the rest of their money for food/rent.
I think it's the whales that move the market. And also mass adoption by those of us fortunate enough to live in a fully developed country: USA/UK/France/Germany etc.
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fewcoins
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December 24, 2014, 06:44:26 PM |
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collapses just strengthen bitcoin... When all the paper money is gone, this digital "currency" will still be here
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MataKhobRazi
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December 24, 2014, 07:39:14 PM
Last edit: December 24, 2014, 08:31:56 PM by MataKhobRazi |
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Because people of these countries are buying swiss francs and not bitcoin  |
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scarsbergholden
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December 25, 2014, 12:06:24 PM |
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Because contrary to bitcoin-er logic, people of Russia and other countries experiencing any type of currency crisis will NOT be putting their savings into bitcoin. They are much more likely to buy US dollar or Euros, or even precious metals before they touch an unregulated digital currency fraught with crime and thefts that has fallen drastically in value all year.
When greece was having a banking crisis people were putting massive amounts of money into bitcoin and when cyprus was having a similar crisis we saw a bitcoin bubble that was fueled by people in europe buying up bitcoin The reason it probably hasn't happened this time around is because there is little fear that the crisis going to spread throughout the rest of the world. |
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arieq
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December 25, 2014, 11:27:53 PM |
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Well.. the price stays stable at $300 - $330, nothing seems to be driving down the price of bitcoins recently. Maybe all the bears have left and all thats left is the people who either "bought at the bottom" or are invested longterm
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NotLambchop
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December 25, 2014, 11:44:02 PM |
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Well.. the price stays stable at $300 - $330, nothing seems to be driving down the price of bitcoins recently. Maybe all the bears have left and all thats left is the people who either "bought at the bottom" or are invested longterm
How many BTC are mined per day again? I keep forgetting  |
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Q7
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December 26, 2014, 02:46:04 AM |
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Because everytime there is crisis in some part of the world, people post here expecting that people affected by this crisis will begin buying bitcoins.
If you are talking about gold, yes people are doing that. Bitcoin still needs to work out on the exposure part, meaning more people need to realize and see bitcoin also as a storage of their wealth where it will still maintain its value and appeal regardless of economic condition. Until we move to that stage, btc price won't change much even if all the fiat collapse |
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botany
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Activity: 1582
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December 27, 2014, 11:25:18 AM |
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There are several currencies collapsing, such as:
- Venezuela Bolivar
- Argentina Peso
- Belarus Ruble
- Russian Rubble
- Nigeria
Why is the BTC price not increasing fast?
How many people in these countries will be able to buy bitcoins? You need sellers willing to take these collapsing currencies. |
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thejaytiesto
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December 27, 2014, 12:05:44 PM |
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There are several currencies collapsing, such as:
- Venezuela Bolivar
- Argentina Peso
- Belarus Ruble
- Russian Rubble
- Nigeria
Why is the BTC price not increasing fast?
How many people in these countries will be able to buy bitcoins? You need sellers willing to take these collapsing currencies. Indeed, that is a problem. I dont know what methods you would have to exchange your currency in that situation. I guess you could always find speculators that will buy you some for USD. |
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NotLambchop
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December 27, 2014, 03:59:14 PM |
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...
How many people in these countries will be able to buy bitcoins? You need sellers willing to take these collapsing currencies.
Indeed, that is a problem. I dont know what methods you would have to exchange your currency in that situation. I guess you could always find speculators that will buy you some for USD. Why not just hold USD, which is not tanking like BTC at the moment? |
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tabnloz
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Activity: 961
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December 27, 2014, 04:15:48 PM |
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...
How many people in these countries will be able to buy bitcoins? You need sellers willing to take these collapsing currencies.
Indeed, that is a problem. I dont know what methods you would have to exchange your currency in that situation. I guess you could always find speculators that will buy you some for USD. Why not just hold USD, which is not tanking like BTC at the moment? And as USD continues to strengthen, EM currencies, commodities & bitcoin deflate or stagnate. |
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Muuurrrrica!
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December 27, 2014, 04:56:58 PM |
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why should people in troubled countries buy into btc? Only to loose more money?
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scarsbergholden
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December 27, 2014, 08:41:30 PM |
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There are several currencies collapsing, such as:
- Venezuela Bolivar
- Argentina Peso
- Belarus Ruble
- Russian Rubble
- Nigeria
Why is the BTC price not increasing fast?
How many people in these countries will be able to buy bitcoins? You need sellers willing to take these collapsing currencies. With the exception of the Argentina Peso all of these currencies can be easily converted into dollars (or other more stable stores of value). The likely reason we are not seeing inflows of bitcoin from these countries is probably because these countries have generally less access to technology and internet then the rest of the west/modern world |
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NUFCrichard
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December 27, 2014, 11:02:28 PM |
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Even if the people of these debt stricken countries were buying up BTC (which I would consider a smart investment) it may be that they are poor and buying fractions of a BTC. Maybe the average poor household can only afford to save 0.1 to 0.2 BTC and need the rest of their money for food/rent.
I think it's the whales that move the market. And also mass adoption by those of us fortunate enough to live in a fully developed country: USA/UK/France/Germany etc.
It won't be the masses that start buying 0.2 bitcoins each, it will be the big money men who try to diversify I keep their money safe. They should buy gold, USD, ¥, bitcoin and shares. |
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pitham1
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December 29, 2014, 03:12:38 PM |
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why should people in troubled countries buy into btc? Only to loose more money?
Yup, they would rather buy stable stores of value like the USD. |
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sumantso
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December 29, 2014, 03:20:09 PM |
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Because people of these countries are buying swiss francs and not bitcoin Really? I thought inspite of all the doom and gloom prediction, USD is still the currency of choice to flee into. Currently Bitcoin doesn't really come across as a good place to store, considering it has been going down over the year. |
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