Does not it bother anyone that BTC value increasing too fast? - page 5.

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote from: cainy393 on November 16, 2013, 07:18:42 PM

I honestly can't see bitcoin continuing like this forever. It's price is increasing at such a rate that I believe it must at some point collapse under it's own weight. The price will drop so severely that most disregard bitcoin for the foreseeable future and it is left at a meager price with only hardcore enthusiasts still using the currency.

Sure.

Bitcoin has crashed hard in the past and it didn't bring about doom and gloom despite similar predicts both before and after major crashes.

cainy393

newbie

Activity: 57

Merit: 0

I honestly can't see bitcoin continuing like this forever. It's price is increasing at such a rate that I believe it must at some point collapse under it's own weight. The price will drop so severely that most disregard bitcoin for the foreseeable future and it is left at a meager price with only hardcore enthusiasts still using the currency.

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote from: mateo on November 16, 2013, 06:19:38 PM

Rise in value is welcome as masses adopt the currency, but that rise has to be no more than 5% per year.

There is no way to control the rise in value and second a rise of 5% per year with no speculation would mean the underlying economy is growing at 5% over the rate of monetary inflation per year. For something as small as Bitcoin that would be a death sentance. It would take decades for the userbase to grow even into the millions.

If you want slow steady rises in value wait a decade or two. Bitcoin will either be gone or it will be magnitudes larger and the rate of growth will have been reduced significantly.

Welsh

staff

Activity: 3276

Merit: 4111

Quote from: mateo on November 16, 2013, 06:21:37 PM

Quote from: btcprice on November 16, 2013, 06:12:57 PM

Quote from: mateo on November 16, 2013, 06:03:42 PM

Quote from: bassclef on November 16, 2013, 03:37:46 PM

Global adoption, supply and demand. What do you expect the price to do? Check out the speculation forum, people are literally begging for cheap coins.

People were saying the same 6 months ago..

The demand from the Chinese wasn't present 6 months ago like it is today and the supply isn't all that much greater. Naturally the price will go up.

Cyprus. Isn't that what speculators used to justify the rise in price the last time?

A lot of people did. But, it's many factors which could of made it raise. And, it's pretty much just speculation which doesn't really mean anything.

jdbtracker

hero member

Activity: 727

Merit: 500

Minimum Effort/Maximum effect

This will be determined by the depth of the average pockets. A lot of people are buying BTC every month, using it as their investment fund for the future. If this plays out right, we could get a windfall of people; Bigger market, more movement, more customers, it starts working more like a currency. The ATM recently installed in Vancouver, is proof there is demand, but the hassle of trying to get it is daunting and could be detrimental to a mass adoption; We need more ATMs on the ground.

tvbcof

legendary

Activity: 4592

Merit: 1276

In some plausible scenarios the actual value of bitcoin as a tool to solve real-world problems is quite high. In that case, the value is not really increasing all that quickly and has a ways to go.

I continue to believe that things will probably not play out as described, but it seems to be becoming ever more possible. I'd love to be wrong in my estimates.

cdtc

full member

Activity: 294

Merit: 100

Quote from: EccLipSe on November 16, 2013, 03:21:02 PM

There is a big game maybe bigger than btc? Somehow value rising continuously. This never been happen before. I see that everybody happy with that. But this a baloon and when it is end damage maybe bigger than expections. Everybody speaking about bitcoin on tv, on newspapers etc. Many people investing to bitcoin. Many people will loose their thrust after that big fall.

What you thing? Someone trying to kill Bitcoin forever?

It doesn't worry me, I think it will rise even more when more and more people find out about it.

mateo

member

Activity: 87

Merit: 10

Quote from: btcprice on November 16, 2013, 06:12:57 PM

Quote from: mateo on November 16, 2013, 06:03:42 PM

Quote from: bassclef on November 16, 2013, 03:37:46 PM

Global adoption, supply and demand. What do you expect the price to do? Check out the speculation forum, people are literally begging for cheap coins.

People were saying the same 6 months ago..

The demand from the Chinese wasn't present 6 months ago like it is today and the supply isn't all that much greater. Naturally the price will go up.

Cyprus. Isn't that what speculators used to justify the rise in price the last time?

Coinseeker

sr. member

Activity: 252

Merit: 250

Bubbles may be good for speculation but they are detrimental to a currency. A currency requires stability. If the consensus is that, "This is just Bitcoin" and "It will always be like this.", then Bitcoin will never be a legitimate currency. It will forever remain a speculative commodity, until people lose interest and move on to the next hot investment idea. And that's not even adding manipulation to the equation, which all but renders Bitcoin useless as a currency by itself, and offers nothing to replace our current monetary system. Those with the most, will skew the markets in their direction. Same shit, different name.

It may be time to accept the fact that Bitcoin is not about anything other than making as much money hoarding and speculating as possible. Everything else is just sales market pitch to get more people buying in, to swell the bubbles and feed those at the top of the pyramid. Most everyone else is going to be bagholders, sooner or later. This is a rerun with fancier coding. I guess I should just say, "thanks" and make sure I don't get caught holding one of those bags. Wink

mateo

member

Activity: 87

Merit: 10

Yes it worries me a lot. Only speculators and short-term hoarders like bubbles, merchants generally hate them and I am one.

Rise in value is welcome as masses adopt the currency, but that rise has to be no more than 5% per year. Otherwise, it encourages hoarding and greatly discourages trading (which is, you know, the whole point of currency). And when a bubble pops Bitcoin will receive another dosage of negative press which will offset it's mainstream adoption again. In the end it's merchants who accept Bitcoin, that can make it a currency, not speculators, and merchants will not accept it, if it's jumping in value so wildly.

The volume on the exchanges is paper thin, and all it takes is one guy with a 1000 BTC suddenly deciding to liquidate his holdings, and then all this greed of hoarders, that you see on the boards here, will be replaced with fear and then - another crash, long-term damaging Bitcoin once again.

marcotheminer

legendary

Activity: 2072

Merit: 1049

┴puoʎǝq ʞool┴

Its rising fast however it should slow down soon!

MicroGuy

legendary

Activity: 2506

Merit: 1030

Twitter @realmicroguy

Quote from: jdbtracker on November 16, 2013, 06:13:59 PM

Well we have to look at this carefully this demand is coming from China, What will happen once the buying volume goes down? demand outpaces supply of Btc? The price will level off, but it could set off a wave of buying that could self sustain itself, It depends on how large the outside market is compared to china's.

Once the people find out that there's more than one make and model of automobile, the capital will begin spilling over to other automakers.

jdbtracker

hero member

Activity: 727

Merit: 500

Minimum Effort/Maximum effect

Well we have to look at this carefully this demand is coming from China, What will happen once the buying volume goes down? demand outpaces supply of Btc? The price will level off, but it could set off a wave of buying that could self sustain itself, It depends on how large the outside market is compared to china's.

It could remain stable any more rapid rises should be analyzed to see the size of the correction before it happens, It'll bounce back, but... Wink

if the demand is there, it could go to 1000.00 USD. That would mean a market cap of 12 Billion USD/BTC in circulation, that is a lot of cash to be moving around, the velocity of money should rise with the extra capital injected into the system. I am thinking it could create a Bitcoin business boom, maybe get a little circulation happening on the streets for a change.

btcprice

sr. member

Activity: 434

Merit: 250

Quote from: mateo on November 16, 2013, 06:03:42 PM

Quote from: bassclef on November 16, 2013, 03:37:46 PM

Global adoption, supply and demand. What do you expect the price to do? Check out the speculation forum, people are literally begging for cheap coins.

People were saying the same 6 months ago..

The demand from the Chinese wasn't present 6 months ago like it is today and the supply isn't all that much greater. Naturally the price will go up.

MicroGuy

legendary

Activity: 2506

Merit: 1030

Twitter @realmicroguy

Quote from: EccLipSe on November 16, 2013, 03:21:02 PM

There is a big game maybe bigger than btc? Somehow value rising continuously. This never been happen before. I see that everybody happy with that. But this a baloon and when it is end damage maybe bigger than expections. Everybody speaking about bitcoin on tv, on newspapers etc. Many people investing to bitcoin. Many people will loose their thrust after that big fall.

What you thing? Someone trying to kill Bitcoin forever?

I think once this bubble pops the people will make more bubbles! In general people like bubbles. Cheesy

Welsh

staff

Activity: 3276

Merit: 4111

It has always been like that and will remain like it for quite some time. It normally drops just as quick. Then people normally start panic selling and everyone shouts out "it's the end of Bitcoin sell now!" which can be quite annoying. As it does scare away newbies.

mateo

member

Activity: 87

Merit: 10

Quote from: bassclef on November 16, 2013, 03:37:46 PM

Global adoption, supply and demand. What do you expect the price to do? Check out the speculation forum, people are literally begging for cheap coins.

People were saying the same 6 months ago..

mprep

global moderator

Activity: 3766

Merit: 2610

In a world of peaches, don't ask for apple sauce

Don't worry, the wild value swings is an everyday occurrence in Bitcoin. I was actually amazed by how stable the price was at around $100. Tongue

defaced

legendary

Activity: 2184

Merit: 1011

Franko is Freedom

It just makes me wish my wallet was fatter.

beekeeper

sr. member

Activity: 406

Merit: 250

LTC

Quote from: AndrewWilliams on November 16, 2013, 04:04:36 PM

Quote from: beekeeper on November 16, 2013, 03:53:20 PM

I guess you weren't here during April rush..

This rush you speak of.... it sounds so, foreign to me.

Oh! The great calamity of April 2013! Oh yes, why I've heard the horror stories of it.

But no worry, Bitcoin is now mainstream (tm), and the Chinese are into it (tm), so to the moon we go (tm)! Cheesy

Missing April Rush is like missing Woodstock..

Topic: Does not it bother anyone that BTC value increasing too fast? - page 5. (Read 7655 times)