Candystripes (OP)
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Activity: 294
Merit: 250
***THIS ACCOUNT IS NO LONGER ACTIVE***
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January 17, 2015, 03:23:32 AM |
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The price of Bitcoin sure has been hit hard, and the ripple effect has already blown up across the community. With an ever-faster growing community of people fascinated by the technology, why has the price shown otherwise? Users are grumbling and complaining waiting for the price to rise to what it was, but they aren’t taking the step back to think about the factors that pushed the price back down. http://www.btcfeed.net/speculation/real-reason-bitcoins-descent-revealed/One of the best articles I have read in awhile. |
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No longer under the possession of Candystripes.
Account is currently dormant.
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"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
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flipstyle
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January 17, 2015, 03:27:00 AM |
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TL;DR version:
> bitcoin boom was because of shilling/pumping of price which lead to new public awareness from the average joe shmoe on the street(euphoria phase). Decline due to lack of shilling and price decline, leading to less public awareness (less prospectors looking to hop aboard and 'get rich zomg guaranteed!')
Been saying this for ages now. Nothing new here.
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ivyleague1985
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Activity: 56
Merit: 0
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January 17, 2015, 03:56:15 AM |
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The price of Bitcoin sure has been hit hard, and the ripple effect has already blown up across the community. With an ever-faster growing community of people fascinated by the technology, why has the price shown otherwise? Users are grumbling and complaining waiting for the price to rise to what it was, but they aren’t taking the step back to think about the factors that pushed the price back down. http://www.btcfeed.net/speculation/real-reason-bitcoins-descent-revealed/One of the best articles I have read in awhile. No, it is manipulation of exchanges. Some exchanges just want to "get rich quick". When the majority of retail investors go long, exchanges with insider information will go short and trigger margin calls. When the majority of retail investors go short, exchanges with insider information will go long and trigger short squeeze. I guarantee you they are doing this and they are the real whales. |
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Edward50
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January 17, 2015, 04:39:12 AM |
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It does seem that the exchanges are a big winner with bitcoin. Not only the high fees they get for simply moving USD back and forth, but they also have the inside information that we don't have.
I'm sure they tweak their software to screw you over in transactions also, like when you do a sale they will somehow match the price and take profits there.
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Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
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Torque
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Activity: 3556
Merit: 5041
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January 17, 2015, 05:10:49 AM |
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It does seem that the exchanges are a big winner with bitcoin. Not only the high fees they get for simply moving USD back and forth, but they also have the inside information that we don't have.
I'm sure they tweak their software to screw you over in transactions also, like when you do a sale they will somehow match the price and take profits there.
If exchanges win only when people suddenly get interested in bitcoin, then they sure as hell will lose big time when interest falls off the map. So they will therefore be "incentivized" to create another pump... and soon.. |
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flipstyle
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January 17, 2015, 05:16:30 AM |
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So they will therefore be "incentivized" to create another pump... and soon..
...or just claim a 'hack' and leave with everyone's funds like every other big exchange before them. |
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Edward50
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January 17, 2015, 05:25:58 AM |
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Like I've been saying, the interest in bitcoin is falling. This just proves my point.
Prices are too high, china is out, people aren't going to risk dealing with buying $200 dollar bitcoins. I certainly wouldn't.
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Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
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Q7
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January 17, 2015, 05:46:44 AM |
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To conclude, we can say that the decline of the price was caused by the decline of interest After reading the article, I was thinking what could have caused the sudden loss of interest? Have we already reached market saturation in terms of bitcoin adoption. I don't think so. It's the piece drop that made people lose interest. But what made the price drop in the first place? There are still question that need to be answered. |
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AnswerQuestion
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Merit: 100
777Coin.com★ Fun BTC Casino!
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January 17, 2015, 07:29:03 PM |
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It does seem that the exchanges are a big winner with bitcoin. Not only the high fees they get for simply moving USD back and forth, but they also have the inside information that we don't have.
I'm sure they tweak their software to screw you over in transactions also, like when you do a sale they will somehow match the price and take profits there.
I agree that the exchanges are the winners. However I would disagree that they are somehow manipulating the prices or relying on any kind of inside information to their trading advantage. Doing so would make people want to stop trading with them which would cause them to both lose their advantage but also their commission revenue |
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JimboToronto
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You're never too old to think young.
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January 17, 2015, 07:41:07 PM |
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It does seem that the exchanges are a big winner with bitcoin. Not only the high fees they get for simply moving USD back and forth, but they also have the inside information that we don't have.
I'm sure they tweak their software to screw you over in transactions also, like when you do a sale they will somehow match the price and take profits there.
I agree that the exchanges are the winners. However I would disagree that they are somehow manipulating the prices or relying on any kind of inside information to their trading advantage. Doing so would make people want to stop trading with them which would cause them to both lose their advantage but also their commission revenue That's right. The showmen (exchanges) have to keep the rubes (traders) happy whether it's a casino, stock market, midway, bingo hall, or any other place where people are trying to get rich quick. |
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jasonjm
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January 18, 2015, 04:42:57 AM |
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this is completely accurate. When bitcoin broke $250, I logged into BTCE just to see what the trollbox was spamming away with.....
it was dead, nothing was going on. Previously there would be so many users logged into typing stuff you couldnt even read the scroll live.
I immediately dumped all of my coins.
Who knows maybe if winklessvoss ETF is launched bitcoin will ignite again.
but without winkles or a killer app for bitcoin, this is gonna be a slow painful downward spiral, below $30
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Chef Ramsay
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January 18, 2015, 04:54:29 AM |
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Who knows maybe if winklessvoss ETF is launched bitcoin will ignite again.
but without winkles or a killer app for bitcoin, this is gonna be a slow painful downward spiral, below $30
Despair is rife but I would look forward to the successful launch of the ETF as the point person on the job is top shelf and a celebrity in the business which is why she was chosen for the assignment. I'm not saying there's a timing that is being chilled upon but once the bottom is found, the next launch and rally will freak everyone out. The end result will be groovy times for all those that stuck it out and/or bought in significantly at the right time. I'm telling you and everyone else, the next wave will flag a historical marker in such a way that I'm not exactly sure what event to compare it to. Any bear that wants to counter this is certainly welcome to but be very careful what nonsense you spew cuz the honey badger is gonna get nasty. in the near future. |
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jasonjm
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January 18, 2015, 05:05:57 AM |
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i dont understand why anyone would hold through this.
why not just wait until there is an ETF or killer bitcoin app, you will have time to buy, so you might miss a 10% spike up on the news, not a big deal.
why risk your capital, does not seem prudent.
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bigtimespaghetti
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bigtimespaghetti.com
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January 18, 2015, 08:56:27 AM |
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Who knows maybe if winklessvoss ETF is launched bitcoin will ignite again.
but without winkles or a killer app for bitcoin, this is gonna be a slow painful downward spiral, below $30
Despair is rife but I would look forward to the successful launch of the ETF as the point person on the job is top shelf and a celebrity in the business which is why she was chosen for the assignment. I'm not saying there's a timing that is being chilled upon but once the bottom is found, the next launch and rally will freak everyone out. The end result will be groovy times for all those that stuck it out and/or bought in significantly at the right time. I'm telling you and everyone else, the next wave will flag a historical marker in such a way that I'm not exactly sure what event to compare it to. Any bear that wants to counter this is certainly welcome to but be very careful what nonsense you spew cuz the honey badger is gonna get nasty. in the near future. I feel like this is as risky as anytime to buy, but from this price on down, the risk seems to be worth it. |
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bigtimespaghetti
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bigtimespaghetti.com
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January 18, 2015, 08:57:21 AM |
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i dont understand why anyone would hold through this.
why not just wait until there is an ETF or killer bitcoin app, you will have time to buy, so you might miss a 10% spike up on the news, not a big deal.
why risk your capital, does not seem prudent.
Without risk there is no reward, simple. It's not prudent if you risk more than you can afford. |
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caga
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Merit: 100
www.secondstrade.com - 190% return Binary option
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January 18, 2015, 10:08:42 AM |
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The price of Bitcoin sure has been hit hard, and the ripple effect has already blown up across the community. With an ever-faster growing community of people fascinated by the technology, why has the price shown otherwise? Users are grumbling and complaining waiting for the price to rise to what it was, but they aren’t taking the step back to think about the factors that pushed the price back down. http://www.btcfeed.net/speculation/real-reason-bitcoins-descent-revealed/One of the best articles I have read in awhile. No, it is manipulation of exchanges. Some exchanges just want to "get rich quick". When the majority of retail investors go long, exchanges with insider information will go short and trigger margin calls. When the majority of retail investors go short, exchanges with insider information will go long and trigger short squeeze. I guarantee you they are doing this and they are the real whales. That makes a lot of sense too . I certainly think exchanges have the best advanatge and can manipulate the prices in a crazy way. They also have the information regarding any whales wanting to buy in or buy out. |
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