I think all kinds of money whether virtually or physically have been being used illegally.
The higher the demand, the higher the value.
Topic: Illegal use of Bitcoin affecting its value? - page 6. (Read 7882 times)
so yes ...I think BTC is becoming more stable each day
which is the end objective... a currency which does not get inflated away.
Yes bitcoin was very much a bubble at the time. The high prices of most bubbles are eventually surpassed over time as fundamentals of the underlying asset catches up to the price of the asset.
Definitely. At that point of time, there was nothing to justify its valuation.
There is only so much of future potential (given the uncertainty) that you can squeeze into its valuation.
The 3 bubbles or overjoys if you want to call them (people getting giddy at their computer pressing F5 every 3 seconds) happened at $30, $265 and that last run to $1200. So far this year despite dropping to 1/2 and then going backup up 50% we have not seen bubble. The good and bad news seems to be canceling each other out realtime.
What is happening in fact is STABILITY!
Bitcoin is accepted by more people and this can only lead to a more stable market for bitcoin .... I wonder where all the people that said that BTC is not stable vanished!
Well ... check this chart https://blockchain.info/charts/market-price .... I would say the period from jan 2014 till now it was pretty much stable
january 2014 price 579 usd .... price nou 591 usd ....
now let's check Gold on bloomberg http://www.bloomberg.com/quote/XAUUSD:CUR (click on 1Y)
You can even compare it to EUR/USD http://www.bloomberg.com/quote/EURUSD:CUR
so you just can't compare 14 mil coins with 1.29 trilion $
How much U.S. currency is in circulation?
There was approximately $1.29 trillion in circulation as of July 2, 2014, of which $1.24 trillion was in Federal Reserve notes.
(source: http://www.federalreserve.gov/faqs/currency_12773.htm )
Or with €956 billion.
(Source: http://www.ecb.europa.eu/euro/banknotes/circulation/html/index.en.html )
so yes ...I think BTC is becoming more stable each day
Yes bitcoin was very much a bubble at the time. The high prices of most bubbles are eventually surpassed over time as fundamentals of the underlying asset catches up to the price of the asset.
Definitely. At that point of time, there was nothing to justify its valuation.
There is only so much of future potential (given the uncertainty) that you can squeeze into its valuation.
The 3 bubbles or overjoys if you want to call them (people getting giddy at their computer pressing F5 every 3 seconds) happened at $30, $265 and that last run to $1200. So far this year despite dropping to 1/2 and then going backup up 50% we have not seen bubble. The good and bad news seems to be canceling each other out realtime.
What is happening in fact is STABILITY!
Bitcoin is accepted by more people and this can only lead to a more stable market for bitcoin .... I wonder where all the people that said that BTC is not stable vanished!
Yes bitcoin was very much a bubble at the time. The high prices of most bubbles are eventually surpassed over time as fundamentals of the underlying asset catches up to the price of the asset.
Definitely. At that point of time, there was nothing to justify its valuation.
There is only so much of future potential (given the uncertainty) that you can squeeze into its valuation.
The 3 bubbles or overjoys if you want to call them (people getting giddy at their computer pressing F5 every 3 seconds) happened at $30, $265 and that last run to $1200. So far this year despite dropping to 1/2 and then going backup up 50% we have not seen bubble. The good and bad news seems to be canceling each other out realtime.
What is happening in fact is STABILITY!
Bitcoin is accepted by more people and this can only lead to a more stable market for bitcoin .... I wonder where all the people that said that BTC is not stable vanished!
Yes bitcoin was very much a bubble at the time. The high prices of most bubbles are eventually surpassed over time as fundamentals of the underlying asset catches up to the price of the asset.
Definitely. At that point of time, there was nothing to justify its valuation.
There is only so much of future potential (given the uncertainty) that you can squeeze into its valuation.
The 3 bubbles or overjoys if you want to call them (people getting giddy at their computer pressing F5 every 3 seconds) happened at $30, $265 and that last run to $1200. So far this year despite dropping to 1/2 and then going backup up 50% we have not seen bubble. The good and bad news seems to be canceling each other out realtime.
I simply wouldn't be here if Chuck Schumer didn't do that ridiculous Silk Road Youtube video. From right out of the Ron Paul camp, I came here and never looked back, because here are people not just threatening the US government, but actively undermining them. That was a clear proof-of-concept and I'd argue we're all indebted to Silk Road, to some extent, for Bitcoin's popularity today, an exponential expression of past adoption and evangelism.
Yes bitcoin was very much a bubble at the time. The high prices of most bubbles are eventually surpassed over time as fundamentals of the underlying asset catches up to the price of the asset.
Definitely. At that point of time, there was nothing to justify its valuation.
There is only so much of future potential (given the uncertainty) that you can squeeze into its valuation.
I think the illegal use of BTC is affecting the price less and less as time goes on. In the beginning, I think it actually had a positive effect because it got people talking about it.
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
It definitely help drive the first bubble to ~$30. It was all over the news as I remember. Even congressmen were mentioning BTC.
But wait, if the price hasn't ever fallen below 30$ since, are you correct in calling the increase to 30$ a "bubble"?
What? The price went down to a few dollars.
Ok, I think I see what you're talking about now. But again, given that prices eventually recovered and have sustained at much more than 30$, can you really say that 30$ was a bubble?
I think the illegal use of BTC is affecting the price less and less as time goes on. In the beginning, I think it actually had a positive effect because it got people talking about it.
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
It definitely help drive the first bubble to ~$30. It was all over the news as I remember. Even congressmen were mentioning BTC.
But wait, if the price hasn't ever fallen below 30$ since, are you correct in calling the increase to 30$ a "bubble"?
What? The price went down to a few dollars.
Ok, I think I see what you're talking about now. But again, given that prices eventually recovered and have sustained at much more than 30$, can you really say that 30$ was a bubble?
I guess it depends on whether you define 'bubble' as something that inflates then pops and dies after or just the rapid run up followed by a big drop ignoring whether the asset survives after.
A lot of people use 'bubble' to describe the big bitcoin run ups, so I do as well. Also, people like to call the mid 2000s housing price surge a 'bubble', and it's not like the housing market in the US is ever going to completely die.
I think the illegal use of BTC is affecting the price less and less as time goes on. In the beginning, I think it actually had a positive effect because it got people talking about it.
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
It definitely help drive the first bubble to ~$30. It was all over the news as I remember. Even congressmen were mentioning BTC.
But wait, if the price hasn't ever fallen below 30$ since, are you correct in calling the increase to 30$ a "bubble"?
What? The price went down to a few dollars.
Ok, I think I see what you're talking about now. But again, given that prices eventually recovered and have sustained at much more than 30$, can you really say that 30$ was a bubble?
Yeah I'm going with no. There may be small minority of people who don't understand Bitcoin and they believe the negative press but I doubt that is going slow down growth significantly. Anybody person really paying attention would realize that fiat is used in the exact same manner and way more and for far worse then Bitcoin.
If you ask me the only thing really affecting the price is trust in the system and ease of use. These things will be approved upon and people will adapt BTC as time progresses IMO.
If you ask me the only thing really affecting the price is trust in the system and ease of use. These things will be approved upon and people will adapt BTC as time progresses IMO.
I think the illegal use of BTC is affecting the price less and less as time goes on. In the beginning, I think it actually had a positive effect because it got people talking about it.
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
It definitely help drive the first bubble to ~$30. It was all over the news as I remember. Even congressmen were mentioning BTC.
But wait, if the price hasn't ever fallen below 30$ since, are you correct in calling the increase to 30$ a "bubble"?
What? The price went down to a few dollars.
I think the illegal use of BTC is affecting the price less and less as time goes on. In the beginning, I think it actually had a positive effect because it got people talking about it.
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
It definitely help drive the first bubble to ~$30. It was all over the news as I remember. Even congressmen were mentioning BTC.
But wait, if the price hasn't ever fallen below 30$ since, are you correct in calling the increase to 30$ a "bubble"?
I think the illegal use of BTC is affecting the price less and less as time goes on. In the beginning, I think it actually had a positive effect because it got people talking about it.
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
It definitely help drive the first bubble to ~$30. It was all over the news as I remember. Even congressmen were mentioning BTC.
And after that came the Cyprus disaster which showed people that banks were not reliable anymore (in fact they never had been, to begin with), and can easily take away the money you trusted them with on an ad-hod basis.
I think the illegal use of BTC is affecting the price less and less as time goes on. In the beginning, I think it actually had a positive effect because it got people talking about it.
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
It definitely help drive the first bubble to ~$30. It was all over the news as I remember. Even congressmen were mentioning BTC.
I think the illegal use of BTC is affecting the price less and less as time goes on. In the beginning, I think it actually had a positive effect because it got people talking about it.
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
Silk Road gave exposure to bitcoin, so people could get in touch also with the good side of bitcoin, also exposed in the media, even if with less emphasis.
Also increased the demand for bitcoins, like any other made mainly with bitcoins.
Also increased the demand for bitcoins, like any other made mainly with bitcoins.
You are indeed right about that part, but I don't think that Satoshi conceiving his brainchild would be quite happy if Bitcoin had to be honored with what is called Herostratic fame.
Yes, it was infamous earlier; but all that has been set right now.
Unlikely, BTC is use agnostic. Utility is utility, legality does not matter unltimately
No but the earlier posts were right about the fact that during 2012 and 2011 if/when btc hit the popular media it was alway "this thingy is used by criminals to make crime easier". Nowadays the perceptions in the media have changed in that we usually don't hear this tagline about criminals. I personally think that these sorts of perceptions do affect adoption which does in turn affect valuation.
There is no such thing as bad publicity. The earlier media reports did help expand the awareness of bitcoin.
You are indeed right about that part, but I don't think that Satoshi conceiving his brainchild would be quite happy if Bitcoin had to be honored with what is called Herostratic fame.
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