Don't panic - page 3. | Bitcointalksearch.org

TERA

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Quote from: traderCJ on March 20, 2014, 07:15:12 PM

Quote from: TERA on March 20, 2014, 06:48:18 PM

Quote from: jonald_fyookball on March 20, 2014, 12:47:54 PM

Currently price is dropping because gox coins being dumped on the market.
No proof, just my opinion based on the price action.

Not enough volume.

Sure it is, nothing says all the coins have to get dumped in one fell swoop and certainly not by a single entity. Perhaps this is simply a prelude ..

With this tiny volume, prices can be going down simply because of a lack of buying - there doesn't have to be a huge seller. Given that most of the volume on any exchange is daytraders, I don't think there's even enough volume to buy the 3,600 coins that are mined per day, and prices are just slowly bleeding out. I have never seen such a consistent low volume accompany a decline in bitcoin before - it is looking really bad. There's just no interest for some reason. If someone was actually dumping a load of coins, at any rate, the decline would be a lot worse, and you would see more volume to accompany it.

traderCJ

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Quote from: TERA on March 20, 2014, 06:48:18 PM

Quote from: jonald_fyookball on March 20, 2014, 12:47:54 PM

Currently price is dropping because gox coins being dumped on the market.
No proof, just my opinion based on the price action.

Not enough volume.

Sure it is, nothing says all the coins have to get dumped in one fell swoop and certainly not by a single entity. Perhaps this is simply a prelude ..

TERA

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Quote from: jonald_fyookball on March 20, 2014, 12:47:54 PM

Currently price is dropping because gox coins being dumped on the market.
No proof, just my opinion based on the price action.

Not enough volume.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: Swordsoffreedom on March 20, 2014, 05:10:36 PM

This was a crash ?
Hardly saw any movement in the price

its been creeping down steadily from $640.... not much swings, just down down down...
which leads me to believe there's a large seller

Ibian

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Quote from: traderCJ on March 20, 2014, 06:04:19 PM

Quote from: Ibian on March 20, 2014, 05:54:25 PM

Quote from: traderCJ on March 20, 2014, 05:51:27 PM

Quote from: Ibian on March 20, 2014, 05:46:20 PM

Quote from: traderCJ on March 20, 2014, 05:42:43 PM

Quote from: Ibian on March 20, 2014, 05:24:57 PM

All it would take is for your suppliers to accept bitcoin as payment. It could be as little as a year off before that starts happening on a scale large enough to be noticed, and eventually we will have a functioning bitcoin economy without any need to involve fiat.

With all due respect, you must be fucking high. It will take decades for something like this to happen.

Overstock CEO holds bitcoin. That's the first step. People are being paid in bitcoins already. It's already started.

He personally holds Bitcoin. Overstock itself does not hold Bitcoin reserves. It would be irresponsible to do so when vendors, employees, contractors, lenders, etc. expect prompt payment in fiat.

Again. People are being paid in bitcoin. It's a small number now, and may only be small businesses, but that's how it begins. And nothing is more prompt than bitcoin. Even handing over a stack of money takes longer than a bitcoin transaction.

You're missing the point. I'm not debating the merits of Bitcoin. Full vertical integration in run-of-the-mill businesses isn't "as little as a year off", not even close. A few decades? Sure, that's possible. Between now and then, Bitcoin is an alternative to credit cards and bank accounts.

Didn't say it would be fully realized in a year. I said it could begin to be noticeable in as little as a year. Once it begins it will only keep growing, just a question of when we get there. And I don't think it will be decades.

traderCJ

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Quote from: Ibian on March 20, 2014, 05:54:25 PM

Quote from: traderCJ on March 20, 2014, 05:51:27 PM

Quote from: Ibian on March 20, 2014, 05:46:20 PM

Quote from: traderCJ on March 20, 2014, 05:42:43 PM

Quote from: Ibian on March 20, 2014, 05:24:57 PM

All it would take is for your suppliers to accept bitcoin as payment. It could be as little as a year off before that starts happening on a scale large enough to be noticed, and eventually we will have a functioning bitcoin economy without any need to involve fiat.

With all due respect, you must be fucking high. It will take decades for something like this to happen.

Overstock CEO holds bitcoin. That's the first step. People are being paid in bitcoins already. It's already started.

He personally holds Bitcoin. Overstock itself does not hold Bitcoin reserves. It would be irresponsible to do so when vendors, employees, contractors, lenders, etc. expect prompt payment in fiat.

Again. People are being paid in bitcoin. It's a small number now, and may only be small businesses, but that's how it begins. And nothing is more prompt than bitcoin. Even handing over a stack of money takes longer than a bitcoin transaction.

You're missing the point. I'm not debating the merits of Bitcoin. Full vertical integration in run-of-the-mill businesses isn't "as little as a year off", not even close. A few decades? Sure, that's possible. Between now and then, Bitcoin is an alternative to credit cards and bank accounts.

Ibian

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Quote from: traderCJ on March 20, 2014, 05:51:27 PM

Quote from: Ibian on March 20, 2014, 05:46:20 PM

Quote from: traderCJ on March 20, 2014, 05:42:43 PM

Quote from: Ibian on March 20, 2014, 05:24:57 PM

All it would take is for your suppliers to accept bitcoin as payment. It could be as little as a year off before that starts happening on a scale large enough to be noticed, and eventually we will have a functioning bitcoin economy without any need to involve fiat.

With all due respect, you must be fucking high. It will take decades for something like this to happen.

Overstock CEO holds bitcoin. That's the first step. People are being paid in bitcoins already. It's already started.

He personally holds Bitcoin. Overstock itself does not hold Bitcoin reserves. It would be irresponsible to do so when vendors, employees, contractors, lenders, etc. expect prompt payment in fiat.

Again. People are being paid in bitcoin. It's a small number now, and may only be small businesses, but that's how it begins. And nothing is more prompt than bitcoin. Even handing over a stack of money takes longer than a bitcoin transaction.

traderCJ

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Quote from: Ibian on March 20, 2014, 05:46:20 PM

Quote from: traderCJ on March 20, 2014, 05:42:43 PM

Quote from: Ibian on March 20, 2014, 05:24:57 PM

All it would take is for your suppliers to accept bitcoin as payment. It could be as little as a year off before that starts happening on a scale large enough to be noticed, and eventually we will have a functioning bitcoin economy without any need to involve fiat.

With all due respect, you must be fucking high. It will take decades for something like this to happen.

Overstock CEO holds bitcoin. That's the first step. People are being paid in bitcoins already. It's already started.

He personally holds Bitcoin. Overstock itself does not hold Bitcoin reserves. It would be irresponsible to do so when vendors, employees, contractors, lenders, etc. expect prompt payment in fiat.

Ibian

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Activity: 2268

Merit: 1278

Quote from: traderCJ on March 20, 2014, 05:42:43 PM

Quote from: Ibian on March 20, 2014, 05:24:57 PM

All it would take is for your suppliers to accept bitcoin as payment. It could be as little as a year off before that starts happening on a scale large enough to be noticed, and eventually we will have a functioning bitcoin economy without any need to involve fiat.

With all due respect, you must be fucking high. It will take decades for something like this to happen.

Overstock CEO holds bitcoin. That's the first step. People are being paid in bitcoins already. It's already started.

traderCJ

sr. member

Activity: 280

Merit: 250

Quote from: Ibian on March 20, 2014, 05:24:57 PM

All it would take is for your suppliers to accept bitcoin as payment. It could be as little as a year off before that starts happening on a scale large enough to be noticed, and eventually we will have a functioning bitcoin economy without any need to involve fiat.

With all due respect, you must be fucking high. It will take decades for something like this to happen.

Ibian

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Activity: 2268

Merit: 1278

Quote from: traderCJ on March 20, 2014, 05:09:05 PM

Quote from: Ibian on March 20, 2014, 04:35:52 PM

Don't worry, whatever is going on is mostly harmless.

I don't get the dumping idea. If I had thousands of coins I would wait for businesses to open that don't convert them to fiat. It's sure to happen within a few years.

First, trading makes sense if you want to increase your holdings.

Second, it will be a very long time before anything beyond a small business holds onto their Bitcoins. If you have ever run a business, you'd understand why very quickly.

All it would take is for your suppliers to accept bitcoin as payment. It could be as little as a year off before that starts happening on a scale large enough to be noticed, and eventually we will have a functioning bitcoin economy without any need to involve fiat.

lemfuture

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panic n sell

Swordsoffreedom

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This was a crash ?
Hardly saw any movement in the price

MAbtc

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I don't see panic. Yet. Cheesy

traderCJ

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Quote from: Ibian on March 20, 2014, 04:35:52 PM

Don't worry, whatever is going on is mostly harmless.

I don't get the dumping idea. If I had thousands of coins I would wait for businesses to open that don't convert them to fiat. It's sure to happen within a few years.

First, trading makes sense if you want to increase your holdings.

Second, it will be a very long time before anything beyond a small business holds onto their Bitcoins. If you have ever run a business, you'd understand why very quickly.

Ibian

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Activity: 2268

Merit: 1278

Don't worry, whatever is going on is mostly harmless.

I don't get the dumping idea. If I had thousands of coins I would wait for businesses to open that don't convert them to fiat. It's sure to happen within a few years.

knightcoin

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Stand on the shoulders of giants

traderCJ

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Quote from: jonald_fyookball on March 20, 2014, 12:47:54 PM

Currently price is dropping because gox coins being dumped on the market.
No proof, just my opinion based on the price action.

This is actually a great reason to panic. If you truly believe that these are gox coins being dumped, there are many more on the way, and most of them will get sold right off the bat.

Wilhelm

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Quote: If you're gonna panic, panic early ....

OP is probably panicing early Cheesy

CurbsideProphet

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Quote from: btbrae on March 20, 2014, 02:11:54 PM

It's scary how relatively few coins can still move the price significantly.

It's still a very low volume/illiquid market in comparison to other investments.

Topic: Don't panic - page 3. (Read 4989 times)