I find it more interesting to look statswise when possible early adopters spent their BTC (note that this is not a indication of BTC being turned into cash, you can see a spike where the silk road closure happened). While they manage to sell before it crashes/corrects/"insert your preferred term here", most of the value fluctuation seems to be caused by... short-term speculators trading virtually.
And from what I heard about early adopters, most of them sell their BTC in batches rather than their whole amount.
Topic: Bitcoin will be destroyed by early adopters - page 3. (Read 7608 times)
so.... what I said may just have happened.
Outside of "destroyed" and "early adopters," yeah, I'd say you were.
so.... what I said may just have happened.
This is what makes markets function.... buyers and sellers..... moving from weak hands to stronger hands with a higher cost basis.
It all really boils down to long term fundamentals. There are no P/E ratios to look at EBITA or book value. The PRIME factors of future price are:
(1) Adoption rate and reach, and;
(2) Government acceptance or tolerance
Everything else is background noise.
If more and more merchants accept bitcoin.. and if more and more people USE (not just hoard) bitcoin, it will trade at a higher price in the future.
Until then.... if you are a believer but don't have a position, keep accumulating and use the power of dollar cost averaging.
If you are not a believer but a big holder, sell on strength... Simple.
Just my opinion, I could be wrong. LOL
SQ
It all really boils down to long term fundamentals. There are no P/E ratios to look at EBITA or book value. The PRIME factors of future price are:
(1) Adoption rate and reach, and;
(2) Government acceptance or tolerance
Everything else is background noise.
If more and more merchants accept bitcoin.. and if more and more people USE (not just hoard) bitcoin, it will trade at a higher price in the future.
Until then.... if you are a believer but don't have a position, keep accumulating and use the power of dollar cost averaging.
If you are not a believer but a big holder, sell on strength... Simple.
Just my opinion, I could be wrong. LOL
SQ
a load us would just buy from all the idiot panic sellers and reap the rewards.
Losing your temper and calling panic sellers idiots doesn't look like you believe to much on what you say.
Just saying
Dictionary
Quote
a sudden overwhelming fear, with or without cause, that produces hysterical or irrational behavior, and that often spreads quickly through a group of persons or animals.
The term "panic sellers" refers to someone who irrationally sells without any rational reason, basically without using common sense so I would refer to them as idiots, or at least ignorant as I can understand newbies selling without considering all the factors. Also I am not losing my temper either way, I am having fun building a game with some beers, while wishing I had my FIAT to buy some cheap coins.
if anything, i think bitcoin will be destroyed by fear mongers or unrealistic bulls. please fall somewhere in between those two extremes.
I don't think that you can find people that are more hardcore hoarders than early adopters. Most of them just hoard and wait for the price to hit 100k or 1m $.
they have been pumping and dumping and making millions from that alone. when they feel the market can't bear more, why not dump and abandon all? what does it matter to those who have made a hundred million already?
You are talking about speculators. I can hardly find any speculators among the early adopters.
do you think they didnt speculate on becoming rich? do you think they would tell you when and how much they are selling?
a load us would just buy from all the idiot panic sellers and reap the rewards.
Losing your temper and calling panic sellers idiots doesn't look like you believe to much on what you say.
Just saying
It's true that those holding a large amount of coins could bring down Bitcoin, however this would be temporary. Bitcoin users would need a concrete reason abandon Bitcoin, a load us would just buy from all the idiot panic sellers and reap the rewards. The only way Bitcoin is going down long term is if it gets outlawed or some kind of regulations prohibit its use on a global scale. Only bears should be fearful of this.
Price can't go to $50 unless a catastrophic news, period.
Please provide some facts.
they have been pumping and dumping and making millions from that alone. when they feel the market can't bear more, why not dump and abandon all? what does it matter to those who have made a hundred million already?
Please provide some facts.
I can't because you quoted something that another guy said under my name
fix it please
Do you think the early adopters are naive? They will only withdraw on different peak instances. And considering AML regulations, they can't at this time cash out more than BTC10 at a time.
Yes, those who get scared they will lose their millions and dump 10000+ or more at the market, starting an avalanche. I'm convinced that pump and dump has been going on for a long time, the question is, when will they overdo it to kill it all.
Redistribution of wealth. Once more people have these coins things will be better. And less radical.
Price can't go to $50 unless a catastrophic news, period.
Please provide some facts.
they have been pumping and dumping and making millions from that alone. when they feel the market can't bear more, why not dump and abandon all? what does it matter to those who have made a hundred million already?
Please provide some facts.
I don't think that you can find people that are more hardcore hoarders than early adopters. Most of them just hoard and wait for the price to hit 100k or 1m $.
they have been pumping and dumping and making millions from that alone. when they feel the market can't bear more, why not dump and abandon all? what does it matter to those who have made a hundred million already?
You are talking about speculators. I can hardly find any speculators among the early adopters.
I don't think that you can find people that are more hardcore hoarders than early adopters. Most of them just hoard and wait for the price to hit 100k or 1m $.
they have been pumping and dumping and making millions from that alone. when they feel the market can't bear more, why not dump and abandon all? what does it matter to those who have made a hundred million already?
I don't think that you can find people that are more hardcore hoarders than early adopters. Most of them just hoard and wait for the price to hit 100k or 1m $.
according to mt gox it only takes one market dump of 87,000 btc to take price back down to $50 yip yip
What's the exact source?I can't trust this. there are many wallets with over 10k bitcoins out there...
Currently the difference is $30, not $50. So selling 87k BTC would drop the price at Gox to $30 even.
according to mt gox it only takes one market dump of 87,000 btc to take price back down to $50 yip yip
What's the exact source?I can't trust this. there are many wallets with over 10k bitcoins out there...
If someone is stupid enough to dump a big stash all at once and not get a good price for their coins by selling in smaller chunks, let them do so. The coins will be more evenly distributed among bitcoin population, good for all in the long run.
they could just dump in order to drive the price down and then buy some back. and then repeat. pretty sure that's been going on since the beginning. look at all the other funny coins, same thing.
Well, to this I'd reply, if someone is stupid enough to dump when they see the dumping is already happening, then they either don't believe in the fundamentals, or too chicken to play this game. They better be out of it anyway. So it's all for the good in the long run. In the long run, if you believe in the fundamentals, you hold, no matter what games are going on around you, and only offload when the price goes up, never when the price goes down.
If someone is stupid enough to dump a big stash all at once and not get a good price for their coins by selling in smaller chunks, let them do so. The coins will be more evenly distributed among bitcoin population, good for all in the long run.
they could just dump in order to drive the price down and then buy some back. and then repeat. pretty sure that's been going on since the beginning. look at all the other funny coins, same thing.
Jump to: