Topic: How to Explode the Price of Bitcoin OVERNIGHT! (Read 6556 times)
the price of bitcoin is stagnating because all of these IPOs are liquidating people's bitcoins for fiat to begin operations. These are the largest traders right now.
^It was doomed from the very beginning, the US dollar has failed (a few times) in the past.
1779, 1862, 1934, 1979(?), 201X(?)
1779, 1862, 1934, 1979(?), 201X(?)
When the dollar collapses, the price of bitcoin will explode overnight 
SMH....IF the dollar collapses, we won't have any need for Bitcoin because everyone will be broke.Secondly, Bitcoins are not "worth" $100. $30-$50 is still extremely high for something you can't spend.
If? Writing is the wall for the fiat..
Making it easier for merchants to integrate Bitcoin into their payment options, such as an automated exchange into USD or fiat currencies using the best current exchange rates at the time of transaction, would really light a fire under the price. It's as simple as that, when you really think about it.
That's a pretty good advertisement for Ripple.
Would prefer a more KISS approach. Ripple kind of misses the point with its approach.
Either way, making it easier to be used for other forms of online payment in a way that's more akin to Paypal is really what's needed.
I agree it needs to be simpler. I'd lookout for upcoming gateways to provide these simpler feature sets, more akin to Paypal.
Making it easier for merchants to integrate Bitcoin into their payment options, such as an automated exchange into USD or fiat currencies using the best current exchange rates at the time of transaction, would really light a fire under the price. It's as simple as that, when you really think about it.
That's a pretty good advertisement for Ripple.
Would prefer a more KISS approach. Ripple kind of misses the point with its approach.
Either way, making it easier to be used for other forms of online payment in a way that's more akin to Paypal is really what's needed.
strawman, i never made the claim that life would go on as normal after a dollar collapse.
It's not a strawman as that's exactly what you insinuated. The dollar will collapse and Bitcoin will be used as a "proxy for the same value", as if no big deal Easy as changing underwear. Notice you ignored the Achilles heel too. Typical. Bottomline, I think Bitcoin is awesome but it's not ready to be a world currency.
Making it easier for merchants to integrate Bitcoin into their payment options, such as an automated exchange into USD or fiat currencies using the best current exchange rates at the time of transaction, would really light a fire under the price. It's as simple as that, when you really think about it.
That's a pretty good advertisement for Ripple.
Making it easier for merchants to integrate Bitcoin into their payment options, such as an automated exchange into USD or fiat currencies using the best current exchange rates at the time of transaction, would really light a fire under the price. It's as simple as that, when you really think about it.
Bitcoin is only as good as the fiat it can be converted into. Remember that.
Bitcoin is as good as the items it can exchanged for. Drugs and miners.
When the dollar collapses, the price of bitcoin will explode overnight
SMH....IF the dollar collapses, we won't have any need for Bitcoin because everyone will be broke.Secondly, Bitcoins are not "worth" $100. $30-$50 is still extremely high for something you can't spend.
money isnt value its self, its simply a proxy for value. having money become worthless doesnt make the vegetables in your garden worthless, or the furniture in your house, or your car. those things will still exist and a new medium of exchange will rise to facilitate trade. That medium will act as a proxy for the same value that the dollar used to act as a proxy for.
The thinking that life will go on as normal if the dollar was to collapse, is just silly.
strawman, i never made the claim that life would go on as normal after a dollar collapse.
When the dollar collapses, the price of bitcoin will explode overnight
SMH....IF the dollar collapses, we won't have any need for Bitcoin because everyone will be broke.Secondly, Bitcoins are not "worth" $100. $30-$50 is still extremely high for something you can't spend.
money isnt value its self, its simply a proxy for value. having money become worthless doesnt make the vegetables in your garden worthless, or the furniture in your house, or your car. those things will still exist and a new medium of exchange will rise to facilitate trade. That medium will act as a proxy for the same value that the dollar used to act as a proxy for.
The thinking that life will go on as normal if the dollar was to collapse, is just silly. Things go bad for the dollar, they go bad for everything else, including Bitcoin. Even if Bitcoin had the chance to fill a void as big as the dollar would leave, it still couldn't remotely handle the task, given its extremely low transaction/second rate. Thats the Bitcoin Achilles heel, that everyone pretends doesn't exist. Bitcoin can't even compete with Visa's transaction capabilities. How do you expect it to replace the dollar?
When the dollar collapses, the price of bitcoin will explode overnight
SMH....IF the dollar collapses, we won't have any need for Bitcoin because everyone will be broke.Secondly, Bitcoins are not "worth" $100. $30-$50 is still extremely high for something you can't spend.
money isnt value its self, its simply a proxy for value. having money become worthless doesnt make the vegetables in your garden worthless, or the furniture in your house, or your car. those things will still exist and a new medium of exchange will rise to facilitate trade. That medium will act as a proxy for the same value that the dollar used to act as a proxy for.
Bitcoin is only as good as the fiat it can be converted into. Remember that.
Bitcoin is as good as the items it can exchanged for. I get the idea that regardless if they are sold supply > demand so price should drop...I just don't think those coins are in the "supply" side the way people think they are.
bitcoins are a store of value. Bad times bring money in (look at the run caused by cyprus). But regardless, new money has to come in and is that money that determines the fiat value of a bitcoin.
I agree with you from an economics perspective....I'm just not sure that bitcoin and it's value are correctly following any rational economics principles yet. The price seems to still be determined more by perception/maniulation than the amount of money/value/trade in the system. It is getting better but I'm not convinced that the price correlates to the money flow much.
We have some indicators such as "money flow index" which loosely correlates with price: http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zi1gMFIzv
my mom is imminently buying a house and I'd rather she didn't, for various reasons.
There's nothing wrong with buying a house, unless it involves a mortgage.
I get the idea that regardless if they are sold supply > demand so price should drop...I just don't think those coins are in the "supply" side the way people think they are.
bitcoins are a store of value. Bad times bring money in (look at the run caused by cyprus). But regardless, new money has to come in and is that money that determines the fiat value of a bitcoin.
any chance of QE failing soon? my mom is imminently buying a house and I'd rather she didn't, for various reasons.
Tell your mom to only accept fixed interest, that should work. It's normal here in Germany. As long as new people with new money come in we're good
correct, every 10 minutes 25 new bitcoins hit the market. That's the rate of new fiat required to enter the system
I've been thinking about this a bit, doesn't that presuppose that every new bitcoin is sold for profit?
I'm mining and not selling even one of my mined coins, so at least for my little piece of the pie no one has to buy them or even $1 has to go into the bitcoin economy right now to support the production of that coin.
I believe that for some major miners (ASICMiner etc.) there is no way there selling most of the coins they have mined.
I think they have >150k btc on the books they haven't sold.
So, in reality very little money has to flow in each day to support 3600 coins being mined.
I don't think the relationship is exactly proportional.
I get the idea that regardless if they are sold supply > demand so price should drop...I just don't think those coins are in the "supply" side the way people think they are.
....the second he slows QE the house of cards collapses....he has no way out of this.
i wondering for quite some time now, where does the stimulus money go?"QE Infinity," a plan to purchase $85 billion of fixed-income securities per month, $40 billion of mortgage-backed securities and $45 billion of U.S. Treasuries.
As long as new people with new money come in we're good
correct, every 10 minutes 25 new bitcoins hit the market. That's the rate of new fiat required to enter the system
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