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Author Topic: I'm starting to think that good news is not what drives the BTC value (price) up  (Read 1469 times)
slaveforanunnak1
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January 02, 2015, 09:59:04 PM
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It's when people hear bad news regarding the existing system.


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DooMAD
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January 02, 2015, 10:57:30 PM
 #2

It's not all that surprising if it is true (but price shouldn't be a primary concern, let's focus on adoption and innovation).  People are naturally complacent to a certain extent (some more than others) and won't normally leave their comfort zone without sufficient cause.  Moral outrage about bankers bonuses and the increasing inequality between the majority and the 1% doesn't seem to be enough to tip the balance just yet.  Give it time, though.  It's anyone's best guess as to what event or occurrence might open the floodgates to mass adoption.

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January 02, 2015, 11:17:34 PM
 #3

Buy on rumors, sell on news is what I've noticed people doing for a while now

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January 03, 2015, 07:59:32 AM
 #4

But first we need people to see bitcoin as a safe store of value. When fiat collapses, btc is still firm in terms of maintaining the value. Contrary to fiat, take for an example, a unit of fiat currency which can buy an X gallon of gas which when economic collapse happens would require 10 times the amount of fiat to buy the same X gallon of gas. That is when people realizes that they need something considered a store of value and we need to let them know bitcoin is there.

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January 03, 2015, 08:10:31 AM
 #5

Another factors is that many govs hold hostile or neutral attitude to it, which impacts the adoption by normal users.

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January 03, 2015, 11:12:31 AM
 #6

Good news can't drives BTC price up
But, bad news easily can drives BTC price down  Sad

We better focus on adoption  Wink
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January 03, 2015, 12:24:44 PM
 #7

People were bitching about the stability of Bitcoin for months and now it's finally dropped back and settled down to a quite reasonable average these very same people are for some reason running around screaming about how Bitcoin has 'failed'. Considering I just bought Natural Selection 2 during the winter steam sale ( lucky me considering the price it rose to after Cheesy ) with Bitcoin and I'm actually building up a small income now I'd say it's doing absolutely fine so forgive me if I don't panic like a bunch of other people are.

Now all I need to do is get my damn graphics card sorted out next week and then I'll be able to play it, I'M SO BORED! >_<

Just wait until the next stock market crash happens guys, it will be like Argentina and Bitcoin is going to look incredibly stable next to a failing economy.
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January 03, 2015, 12:34:01 PM
 #8

The key to increase BTC is adoption
That's all we need

We don't need good news anymore if everyone adapt bitcoin

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January 03, 2015, 12:51:08 PM
 #9

The key to increase BTC is adoption
That's all we need

If your adoption means increasing number of merchants who accept bitcoins and immediately dump them for fiat using Bitpay service then it doesn't increase price.

Real price increase can only happen with increased demand for BTC. Good news can't guarantee this demand. Getting bitcoins as part of your monthly salary can.

BTC: 16o89714EG9WGyi39NxifutFYk55QkxqQK
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January 03, 2015, 01:57:59 PM
 #10

The key to increase BTC is adoption
That's all we need

If your adoption means increasing number of merchants who accept bitcoins and immediately dump them for fiat using Bitpay service then it doesn't increase price.

Real price increase can only happen with increased demand for BTC. Good news can't guarantee this demand. Getting bitcoins as part of your monthly salary can.

if they dump for fiat, it mean someone is buying, the problem now is just to much sell pressure, few are believing in bitcoin and many are not
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January 03, 2015, 03:43:25 PM
 #11

The main thing to gauge in sentiment. At the end of the day a large chunk of the money coming into BTC is for investment purposes. At the moment BTC is one of the worst performing investment assets of this year and subsequently large amounts of investment money has dried up. This trend will continue until the market naturally sets a price, that is when they hit a natural buy wall. Only way to gauge (not predict) is on market sentiment. When you start hear small rumblings of BTC held price for a few months or something alike, that's probably an indication that people have noticed.

I do quickly want to state that I am fully aware their is some market manipulation in BTC. I am also aware that their is also a fair chunk of money coming into BTC is not coming in for investment purposes.

This is interesting point too:  
If your adoption means increasing number of merchants who accept bitcoins and immediately dump them for fiat using Bitpay service then it doesn't increase price.

Real price increase can only happen with increased demand for BTC. Good news can't guarantee this demand. Getting bitcoins as part of your monthly salary can.
Agreed. Increasing use of BTC will probably not increase the price as much as some people think. Obviously large increases in demand will increase value but generally a lack of movement in a desired asset increases price and quick hand-changes suppresses price (same as scarce items to non-scarce). If people were to adapt it for currency purposes as opposed to investment purposes than you can probably expect a lot lower price with the former vs the latter.

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January 04, 2015, 01:25:11 AM
 #12

BTC value has yet to be seen because we don't value BTC in the goods and services it buys, but rather in what BTC converts to in Dollars, Pounds, Euros, etc.

Once we get past the conversion foundation of our thinking we'll find the real value of BTC.

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January 04, 2015, 09:14:30 AM
 #13

Bitcoin is still highly speculative, so it reacts to rumors, news etc.
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January 04, 2015, 06:53:13 PM
 #14

It's when people hear bad news regarding the existing system.



Speaking of Weimar, did anyone else see this hilariously incompetent blunder by the UK tories?  Perhaps they're trying to give us a subtle heads up that they're planning on destroying the economy and we should prepare for hyperinflation?  That, or they're just spectacularly dumb and didn't think anyone would notice.

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January 05, 2015, 02:34:31 PM
 #15

good news like large corps (like microsoft) and other companies accepting bitcoin are obviously negatively effecting the price. I believe it to due to the 3rd party transfer agents between like coinbase and bitpay. They dump immediately into the market whenever anything is bought in these companies. So as more and more "good news" pops up it gives us reason to spend our bitcoins. Every time we spend our bitcoins we are selling them on the market crashing price..
slaveforanunnak1
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January 05, 2015, 05:47:57 PM
 #16

good news like large corps (like microsoft) and other companies accepting bitcoin are obviously negatively effecting the price. I believe it to due to the 3rd party transfer agents between like coinbase and bitpay. They dump immediately into the market whenever anything is bought in these companies. So as more and more "good news" pops up it gives us reason to spend our bitcoins. Every time we spend our bitcoins we are selling them on the market crashing price..
agree 100% but it's ok! What this is doing right now, is making BTCs affordable for people like Me Cheesy
It will shoot up when 2008 happens again probably in 2016

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April 21, 2016, 04:29:15 PM
 #17

The key to increase BTC is adoption
That's all we need

If your adoption means increasing number of merchants who accept bitcoins and immediately dump them for fiat using Bitpay service then it doesn't increase price.

Real price increase can only happen with increased demand for BTC. Good news can't guarantee this demand. Getting bitcoins as part of your monthly salary can.


Now that the government is making special efforts for everyone to go cashless, companies might start considering paying their employees in bitcoins.
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