Chinese factors behind the 14 billion marketcap of Bitcoin

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Quote from: ether19 on December 27, 2016, 09:43:30 AM

Chinese are playing a key role in keeping bitcoin at high price. They account a large volume in trading as well as mining bitcoin. No doubts about that. I think in 20 years you will see Indians coming up to the same level as Chinese. I am saying this because India is 20 years behind Chinese and bitcoin is gaining traction slowly in India.

That could be true at the time. But the influence has reduced a lot recently.

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Quote from: Oralmat on January 05, 2017, 12:22:09 PM

Quote from: virasog on January 01, 2017, 08:33:26 AM

Quote from: upsidedown75 on December 27, 2016, 09:14:18 AM

Quote from: bryant.coleman on December 26, 2016, 01:10:47 AM

Quote from: hl5460 on December 23, 2016, 05:11:56 AM

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

Who is general public ? Obviously we are. But we are all love it.
This 14 billion cap is not built by dev alone so that we can say public is not contributing in this. Even 90% of people are not aware of bitcoin yet, bitcoin's growth is already in rapid pace. So, when it goes down to 50% we may not just imagine the market cap.

I think that is not right. General people who are brain washed by banking institutions dislike bitcoin. But this is changing when more and more people realize the power, freedom and advantage bitcoin offers.

Yes, bitcoin is widely used by hackers and malware developers, but that is not the fault of bitcoin. Fiat cash is used for drugs, crime, terrorism and bad things, I can't find anyone blaming fiat cash as the reason for it!

That is right. Cash is the king for drug dealing.

Oralmat

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Quote from: virasog on January 01, 2017, 08:33:26 AM

Quote from: upsidedown75 on December 27, 2016, 09:14:18 AM

Quote from: bryant.coleman on December 26, 2016, 01:10:47 AM

Quote from: hl5460 on December 23, 2016, 05:11:56 AM

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

Who is general public ? Obviously we are. But we are all love it.
This 14 billion cap is not built by dev alone so that we can say public is not contributing in this. Even 90% of people are not aware of bitcoin yet, bitcoin's growth is already in rapid pace. So, when it goes down to 50% we may not just imagine the market cap.

I think that is not right. General people who are brain washed by banking institutions dislike bitcoin. But this is changing when more and more people realize the power, freedom and advantage bitcoin offers.

Yes, bitcoin is widely used by hackers and malware developers, but that is not the fault of bitcoin. Fiat cash is used for drugs, crime, terrorism and bad things, I can't find anyone blaming fiat cash as the reason for it!

Genamant

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Quote from: virasog on January 01, 2017, 08:33:26 AM

Quote from: upsidedown75 on December 27, 2016, 09:14:18 AM

Quote from: bryant.coleman on December 26, 2016, 01:10:47 AM

Quote from: hl5460 on December 23, 2016, 05:11:56 AM

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

Who is general public ? Obviously we are. But we are all love it.
This 14 billion cap is not built by dev alone so that we can say public is not contributing in this. Even 90% of people are not aware of bitcoin yet, bitcoin's growth is already in rapid pace. So, when it goes down to 50% we may not just imagine the market cap.

I think that is not right. General people who are brain washed by banking institutions dislike bitcoin. But this is changing when more and more people realize the power, freedom and advantage bitcoin offers.

The change is slow, but it is changing.

virasog

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Quote from: upsidedown75 on December 27, 2016, 09:14:18 AM

Quote from: bryant.coleman on December 26, 2016, 01:10:47 AM

Quote from: hl5460 on December 23, 2016, 05:11:56 AM

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

Who is general public ? Obviously we are. But we are all love it.
This 14 billion cap is not built by dev alone so that we can say public is not contributing in this. Even 90% of people are not aware of bitcoin yet, bitcoin's growth is already in rapid pace. So, when it goes down to 50% we may not just imagine the market cap.

I think that is not right. General people who are brain washed by banking institutions dislike bitcoin. But this is changing when more and more people realize the power, freedom and advantage bitcoin offers.

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Quote from: bryant.coleman on December 26, 2016, 01:10:47 AM

Quote from: hl5460 on December 23, 2016, 05:11:56 AM

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

That is right. When I told my friends about the bitcoin, they think it is a Ponzi.

ether19

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Chinese are playing a key role in keeping bitcoin at high price. They account a large volume in trading as well as mining bitcoin. No doubts about that. I think in 20 years you will see Indians coming up to the same level as Chinese. I am saying this because India is 20 years behind Chinese and bitcoin is gaining traction slowly in India.

upsidedown75

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Quote from: bryant.coleman on December 26, 2016, 01:10:47 AM

Quote from: hl5460 on December 23, 2016, 05:11:56 AM

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

Who is general public ? Obviously we are. But we are all love it.
This 14 billion cap is not built by dev alone so that we can say public is not contributing in this. Even 90% of people are not aware of bitcoin yet, bitcoin's growth is already in rapid pace. So, when it goes down to 50% we may not just imagine the market cap.

Kolder

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Quote from: jondeen707 on December 27, 2016, 05:17:43 AM

Quote from: ljudotina on December 23, 2016, 05:40:03 AM

So price is going up because ppl that are organizing pyramid schemes are using it? Cmon now...how large should those be to be main driving force?

I find that hard to believe either. Yet bitcoin's liquidity is inherently low, so any major spike in demand may cause a rally like this. According to bitcoin market analysts, it would take a one-time purchase of just $1M to $1.5M to move the price.

It is true because bitcoin price is volatile. Just like what happening to the price right now. It keeps pump/dump. 1m$ bulk purchase of btc is really happening right now. Just watch the trading history on polo

jondeen707

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Quote from: ljudotina on December 23, 2016, 05:40:03 AM

So price is going up because ppl that are organizing pyramid schemes are using it? Cmon now...how large should those be to be main driving force?

I find that hard to believe either. Yet bitcoin's liquidity is inherently low, so any major spike in demand may cause a rally like this. According to bitcoin market analysts, it would take a one-time purchase of just $1M to $1.5M to move the price.

jondeen707

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Quote from: bryant.coleman on December 26, 2016, 01:10:47 AM

Quote from: hl5460 on December 23, 2016, 05:11:56 AM

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

Good point. I don't think this is what's happening either. Most of the general public are still in the dark on Bitcoin. It's that like with all things digital catchy headlines about cases of illegal use of bitcoins draw more attention and tend to stick to their minds for a long time.

hl5460

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Quote from: shecarlin on December 26, 2016, 01:19:20 AM

Quote from: hl5460 on December 23, 2016, 04:58:16 AM

The $14 billion marketcap of Bitcoin is a good story for mainstream media. And the Chinese media did release stories as expected. But is the market really driven by Chinese capital market demand or it is just another bubble? You will see the real driving force at the end of this story.

http://news.8btc.com/chinese-factors-behind-the-14-billion-marketcap-of-bitcoin

I think BTC value is real not bubble once traditional currency is reducing value itself due to inflation or weak internal economy.
so to prevent currency reduction, They must keep Bitcoins now.

That's what a economy man would do in his best judgement.

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Quote from: hl5460 on December 23, 2016, 04:58:16 AM

The $14 billion marketcap of Bitcoin is a good story for mainstream media. And the Chinese media did release stories as expected. But is the market really driven by Chinese capital market demand or it is just another bubble? You will see the real driving force at the end of this story.

http://news.8btc.com/chinese-factors-behind-the-14-billion-marketcap-of-bitcoin

I think BTC value is real not bubble once traditional currency is reducing value itself due to inflation or weak internal economy.
so to prevent currency reduction, They must keep Bitcoins now.

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Quote from: hl5460 on December 23, 2016, 05:11:56 AM

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

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Quote from: pedrog on December 23, 2016, 05:34:05 AM

Quote from: newIndia on December 23, 2016, 05:04:38 AM

Quote from: hl5460 on December 23, 2016, 04:58:16 AM

You will see the real driving force at the end of this story.

End of the story states that...

Quote

Pyramid Schemes

So where is money comes from? A latest topic on 8btc may tell the truth:

The thread claims that the MMM are the key forces for driving the price up

So, do u mean, Bitcoin has reached 900 USD because of MMM?

Latest surge in litecoin price where litecoin went up to $8 was because of some pyramid scheme in China, I wouldn't be surprised if something similar is helping bitcoin price right now.

don't compare litecoin with bitcoin. litecoin daily trading volume is not at all comparable with bitcoin. and since the price is that much lower and market smaller, it can be manipulated so much easier. and the rise was full pump and doing the same thing in bitcoin takes a lot more than that.

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Quote from: LFC_Bitcoin on December 23, 2016, 05:54:11 AM

I hope it's not a bubble, I've sold a few coins in this run but I am HODLING the majority of my stash for the long term. It'd be deflating to see us reach $1000+ only for the price to plummet several hundred dollars after.

Don't worry, if the price dips there is enough hungry hounds to buy it straight back up again....
Exponentially larger market for btc now than back in 2013

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It is not just another bubble, the Bitcoin price is very, very undervalued, and what we are seeing is just the pressure getting out, I do believe a strong manipulation was needed to keep the price below current.. not otherwise.

China can may have around 2 million bitcoins now..more countries will follow..

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Quote from: crazyivan on December 23, 2016, 05:13:14 AM

Do you people think this ll continue going up? Does BTC s got any potential to reach $1k?

Hell yes it's got that potential and more. Look where we're at ($900). It's not going to take much more positive sentiment to drive us above 1K and beyond. Of course I say this with absolutely no evidence, but I think the momentum speaks, loudly, for itself. And if China is behind it, so be it. Everybody needs to pile in like one of those clown cars.

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Quote from: pedrog on December 23, 2016, 05:34:05 AM

Quote from: newIndia on December 23, 2016, 05:04:38 AM

Quote from: hl5460 on December 23, 2016, 04:58:16 AM

You will see the real driving force at the end of this story.

End of the story states that...

Quote

Pyramid Schemes

So where is money comes from? A latest topic on 8btc may tell the truth:

The thread claims that the MMM are the key forces for driving the price up

So, do u mean, Bitcoin has reached 900 USD because of MMM?

Latest surge in litecoin price where litecoin went up to $8 was because of some pyramid scheme in China, I wouldn't be surprised if something similar is helping bitcoin price right now.

Very observant of you. But litecoin rise has been weiredly predicted by some threads on 8btc.

与其追涨比特币，不如加仓莱特币
http://8btc.com/thread-43937-1-1.html
(出处: 巴比特论坛)

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Quote from: Genamant on December 23, 2016, 06:56:55 AM

Quote from: crazyivan on December 23, 2016, 05:13:14 AM

Do you people think this ll continue going up? Does BTC s got any potential to reach $1k?

It can reach $1000, but it will take several months.

I think it can get to even 2000$ by the end of 2017

Topic: Chinese factors behind the 14 billion marketcap of Bitcoin (Read 2093 times)