Topic: For next few months Bitcoins' price will not rise, it will slowly decrease. - page 2. (Read 6129 times)
July 02, 2011, 12:05:44 PM
Who cares Calista?
July 02, 2011, 12:03:32 PM
Just wait a few months until countries like China and Vietnam start really waking up to bitcoin. Then we'll see truly insane hashrate increases and MAD price hops. China is starting to wake up (I'm located here but not native) to bitcoin and even has a few tiny pools and an exchange. In countries like these that have draconian banking regulations Bitcoin is the way of the future. The second it really catches on here the sky's the limit particularly with VPNs and proxies becoming more and more easily available so you can even hash from behind one if bitcoin gets blocked by "the great firewall".
Ok for the rest of us it means higher difficulties really quickly but this is really bringing a free market to China.
Oh and BTW maybe someone should point that out to some of those anti bitcoin senators who seem to have real issues with China at the same time.
Ok for the rest of us it means higher difficulties really quickly but this is really bringing a free market to China.
Oh and BTW maybe someone should point that out to some of those anti bitcoin senators who seem to have real issues with China at the same time.
July 02, 2011, 11:39:04 AM
If mining was unprofitable, wouldn't you expect the global Tera-hash capacity to decline?
I just checked, its hanging around the 12 THash level. I recall it being under 9 when I first got into bitcoin.
I just checked, its hanging around the 12 THash level. I recall it being under 9 when I first got into bitcoin.
July 02, 2011, 11:34:22 AM
Let's see a reasoned argument to the OPs logic instead of the usual insults flying.
He has a point. Just look at the price. Static for a couple of weeks. I thought it would be back to climbing by now but doesn't look to be the case.
Mining has become unprofitable, holders are still hoarding and no speculator will invest more than a couple hundred quid in case it becomes worthless.
I think the idea that BTC will be worth 10x within months is now ridiculous.
He has a point. Just look at the price. Static for a couple of weeks. I thought it would be back to climbing by now but doesn't look to be the case.
Mining has become unprofitable, holders are still hoarding and no speculator will invest more than a couple hundred quid in case it becomes worthless.
I think the idea that BTC will be worth 10x within months is now ridiculous.
July 02, 2011, 11:27:16 AM
calista said I would go to hell if I bought or mined for bitcoins because it's in the bible
July 02, 2011, 11:14:39 AM
This is the same person who supposedly has issues with bitcoin because they are a christian....
July 02, 2011, 08:27:57 AM
he's right and you all are too invested in this stuff to believe it
I am not. I am not here for the money. I am here for the fun!
July 02, 2011, 08:25:37 AM
he's right and you all are too invested in this stuff to believe it
July 02, 2011, 08:15:12 AM
July 02, 2011, 07:56:15 AM
Remember, bitcoins are inflating now at ~40% annually (new BTCs being minted at 0.08 BTC/s). If the demand stayed constant we would see prices decreasing accordingly with this increasing supply. It the price stays relatively constant it means the demand is increasing.
July 02, 2011, 07:52:52 AM
Calista is a troll.
The only thing decreasing is the parent posters remaining time here.
The only thing decreasing is the parent posters remaining time here.
July 02, 2011, 07:50:52 AM
Proven by history? Take a logics class!
HA!
Quote from: bcearl
If the OP was right, bitcoin would be a ponzi scheme by definition. But it isn't. It's a logical fallacy. New people made bitcoin value rise, but lack of new people does not need to make it decrease.
To get bitcoin have value, businesses must be started.
To get bitcoin have value, businesses must be started.
HAHA!
You are around 17-20 years old, right?
July 02, 2011, 07:28:17 AM
I agree with the original poster. I see the price slowly dropping off. Interest will soon get lower as mining is just not worth it.
Speculators will soon leave when they see there will be no fast easy cash to make with bitcoin.
Speculators will soon leave when they see there will be no fast easy cash to make with bitcoin.
If the OP was right, bitcoin would be a ponzi scheme by definition. But it isn't. It's a logical fallacy. New people made bitcoin value rise, but lack of new people does not need to make it decrease.
To get bitcoin have value, businesses must be started.
July 02, 2011, 07:24:23 AM
as proven by its history before june, bitcoins' price will drop off unless there is big influx of new committed users.
bitcoins is already all over the press - people who would hear of it would have already done so.
unless there is some big new development that proves bitcoins can have exciting new users, people will become inactive and its users will drop off.
in fact the slow drop has already started as we all now witness.
bitcoins is already all over the press - people who would hear of it would have already done so.
unless there is some big new development that proves bitcoins can have exciting new users, people will become inactive and its users will drop off.
in fact the slow drop has already started as we all now witness.
I think at this point, it's fair to say that the geek community
has heard of and likely toyed with bitcoin. Which is why the
price is flattening out.
For it to pick up again, we are going to need to enlarge the
market to have it reach joe user (your mum, your cousin
the facebook user, etc ...)
For that to happen, we're still a long way off, and what's
most notably lacking is the level of ease of use that type
of folks are used to (paypal style). At this point in time,
bitcoin is way too complicated for them.
Also, for the next market quantum leap to happed, we
are going to need a full mobile implementation (most non-geek
type I interact with have pretty much stopped using their
desktop PC in favor of a smartphone).
A bitcoin client on android that is NFC-compatible, combined with
a bitcoin NFC terminal for merchants that directly hooks into an
exchange (so the merchant gets whatever monopoly money he
likes best directly).
Now that would change things quite a bit.
Re-read, with particular attention to "directly hooks into an exchange".
If you don't have an account at an exchange but you don't want to wait for your beer, open an account at an exchange before heading out to the pub (or while waiting for confirms on your first beer order). Any exchange that fails to join the exchange-to-exchange SWIFT - uh I mean fast - private network so their customers can get quick service at retailers using any exchange on that private network might just not be the favourite exchange, at least for retail purchasing applications, of most retail-shopper types.
-MarkM-
July 02, 2011, 07:19:59 AM
I agree with the original poster. I see the price slowly dropping off. Interest will soon get lower as mining is just not worth it.
Speculators will soon leave when they see there will be no fast easy cash to make with bitcoin.
Speculators will soon leave when they see there will be no fast easy cash to make with bitcoin.
July 02, 2011, 07:18:27 AM
Proven by history? Take a logics class!
July 02, 2011, 07:12:20 AM
as proven by its history before june, bitcoins' price will drop off unless there is big influx of new committed users.
bitcoins is already all over the press - people who would hear of it would have already done so.
unless there is some big new development that proves bitcoins can have exciting new users, people will become inactive and its users will drop off.
in fact the slow drop has already started as we all now witness.
bitcoins is already all over the press - people who would hear of it would have already done so.
unless there is some big new development that proves bitcoins can have exciting new users, people will become inactive and its users will drop off.
in fact the slow drop has already started as we all now witness.
I think at this point, it's fair to say that the geek community
has heard of and likely toyed with bitcoin. Which is why the
price is flattening out.
For it to pick up again, we are going to need to enlarge the
market to have it reach joe user (your mum, your cousin
the facebook user, etc ...)
For that to happen, we're still a long way off, and what's
most notably lacking is the level of ease of use that type
of folks are used to (paypal style). At this point in time,
bitcoin is way too complicated for them.
Also, for the next market quantum leap to happed, we
are going to need a full mobile implementation (most non-geek
type I interact with have pretty much stopped using their
desktop PC in favor of a smartphone).
A bitcoin client on android that is NFC-compatible, combined with
a bitcoin NFC terminal for merchants that directly hooks into an
exchange (so the merchant gets whatever monopoly money he
likes best directly).
Now that would change things quite a bit.
July 02, 2011, 04:14:23 AM
yet another noob pulling shit out of their ass and spouting it around as truth.
July 02, 2011, 03:36:37 AM
For the various other blockchains that are building reserves of BTC with which to "support" their own coins' value, a declining price of BTC sounds good, as obtaining the "reserves" they want would become cheaper over time.
There are plenty of people who love seeing the price of BTC dip as it gives them yet another opportunity to pick up some more BTC at time-relatively "bargain" prices.
-MarkM-
There are plenty of people who love seeing the price of BTC dip as it gives them yet another opportunity to pick up some more BTC at time-relatively "bargain" prices.
-MarkM-
July 02, 2011, 03:34:13 AM
spec·u·la·tion
[spek-yuh-ley-shuhn]
–noun
1. the contemplation or consideration of some subject: to engage in speculation on humanity's ultimate destiny.
2. a single instance or process of consideration.
3. a conclusion or opinion reached by such contemplation: These speculations are impossible to verify.
—Synonyms
3. supposition, view, theory, hypothesis.
[spek-yuh-ley-shuhn]
–noun
1. the contemplation or consideration of some subject: to engage in speculation on humanity's ultimate destiny.
2. a single instance or process of consideration.
3. a conclusion or opinion reached by such contemplation: These speculations are impossible to verify.
—Synonyms
3. supposition, view, theory, hypothesis.
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