Topic: Is the decline in the Bitcoin price OUR fault? - page 2. (Read 547 times)
It is our fault, bitcoin price depends on how people do the market trades, if the holders dump their bitcoin then the price will decrease, the market conditions will depends on the traders because it can't move on their own, the movement is on how people active on tradings.
I think it is impossible if we have to blame each other here because I think the rise and fall of the price of an item depending on market conditions may be more precisely we just have to be even more vigorous trying to fix all the information about bitcoin either in what way we obviously have to fight
There is still some time left before Bitcoin is ready to be accepted globally by merchants, we shouldn't hurry in that part. The biggest reason for the start of this price drop is the mt gox trustee. He was selling huge amount of Bitcoins on exchanges directly instead of selling them through OTC.
It is not our overall mistake because market's situation is not in our control. Yes we may do some mistake which leads to the current struggle of bitcoin but we're not accountable for its overall performance. Market is volatile so we must really expect this kind of event. We just gotta figure out how to solve this kind of problem to have a better life instead of pointing out ourselves.
I've seen such scenario happens exactly a year ago before the so called hard fork, the price of bitcoin drop so bad but later on it recover and pump well as the record breaks its all time high and reach $9800. I am confident this will happen again and so I will still continue to hold my bitcoins.
There is still some time left before Bitcoin is ready to be accepted globally by merchants, we shouldn't hurry in that part. The biggest reason for the start of this price drop is the mt gox trustee. He was selling huge amount of Bitcoins on exchanges directly instead of selling them through OTC.
We are responsible for it but the declining must not be accounted on us for all. Market is dealing with a trouble so we don't have any control in regards to that. It is not our mistake that the market is currently struggling but we must help to lift bitcoin's price. We can't just sit here and wait until it happens we must do our action to solve the problem.
And what could be expected if bitcoin remained only on the Internet? If the crypto currency is put into life in the form of a payment system, then you can see even greater growth.
It’s hard to accept that we ourselves have to blamed on this downfall.. You’re right for many things,, we do usually pointing fingers to where others wanted to.. If we and all bitcoin users/investors pointing the fingers on our own we would have done something to make it stopped or even preventing it..
Pride and our ego won’t let us see our mistakes and faults,, but this reminder can make a difference..
Pride and our ego won’t let us see our mistakes and faults,, but this reminder can make a difference..
It's not all about that at all. The market itself from it's supply and demand determines the price of BTC. It's been a talk that the whales are all behind this. Some say the market is being manipulated which has a point and with all the FUDs spreading.
The manipulation thing is grossly exaggerated by the Press and everyone is believing their guesswork. Look at this for example :
https://bitcointalksearch.org/topic/2018-06-15-bloomberg-cryptocurrency-manipulation-study-is-underwhelming-4476948
So what if it is true and the price is being manipulated? It will make no difference in the end, because people are still willing to pay the price that are manipulated. This is more common than you might think. I know a multi-million dollar maize farmer that are withholding his maize in huge Silos until the price increase, to sell the maize at a higher price.
We have been looking for answers on why the Bitcoin price is falling, because we want someone to blame. We have seen the price going down from $19 000+ to $6500 and everyone is looking for the big reason to explain this.
We blamed the governments for regulations and we blame BCash supporters for selling us out and we have been blaming the Mt Gox guy for dumping the coins on the exchanges, but we have not looked at ourselves.
Did we forget that the price of Bitcoin is based on Supply and Demand and that we have to work hard to grow the demand? There are constantly coins being added from the mining side, but the demand side is not keeping up. Why?
Yes, the price increase to $19 000 was spurred on by speculative greed, but we should have grown faster to sustain that progress.
I think everyone of us is to blame, because we should work harder to, :
~ Approach local merchants to ask if they would accept Bitcoin.
~ Ask Merchants to install a Bitcoin ATM in your area.
~ Stop hoarding all our coins and start to buy from the merchants that does accept Bitcoin.
~ Start using the Lightning Network to fast track the implementation.
~ Get SegWit addresses
~ Help people to invest in Bitcoin.
Let's stop blaming others and start working harder to grow the demand, then we will reap the rewards.
We blamed the governments for regulations and we blame BCash supporters for selling us out and we have been blaming the Mt Gox guy for dumping the coins on the exchanges, but we have not looked at ourselves.
Did we forget that the price of Bitcoin is based on Supply and Demand and that we have to work hard to grow the demand? There are constantly coins being added from the mining side, but the demand side is not keeping up. Why?
Yes, the price increase to $19 000 was spurred on by speculative greed, but we should have grown faster to sustain that progress.
I think everyone of us is to blame, because we should work harder to, :
~ Approach local merchants to ask if they would accept Bitcoin.
~ Ask Merchants to install a Bitcoin ATM in your area.
~ Stop hoarding all our coins and start to buy from the merchants that does accept Bitcoin.
~ Start using the Lightning Network to fast track the implementation.
~ Get SegWit addresses
~ Help people to invest in Bitcoin.
Let's stop blaming others and start working harder to grow the demand, then we will reap the rewards.
I think somehow a part of the decline in the price of bitcoin is our fault. We are just selling that we forgot to buy also.
It's not all about that at all. The market itself from it's supply and demand determines the price of BTC. It's been a talk that the whales are all behind this. Some say the market is being manipulated which has a point and with all the FUDs spreading.
The manipulation thing is grossly exaggerated by the Press and everyone is believing their guesswork. Look at this for example :
https://bitcointalksearch.org/topic/2018-06-15-bloomberg-cryptocurrency-manipulation-study-is-underwhelming-4476948
So what if it is true and the price is being manipulated? It will make no difference in the end, because people are still willing to pay the price that are manipulated. This is more common than you might think. I know a multi-million dollar maize farmer that are withholding his maize in huge Silos until the price increase, to sell the maize at a higher price.
There is still some time left before Bitcoin is ready to be accepted globally by merchants, we shouldn't hurry in that part. The biggest reason for the start of this price drop is the mt gox trustee. He was selling huge amount of Bitcoins on exchanges directly instead of selling them through OTC.
I agree with this. We should get off our asses and stop waiting for developers to come up with new ideas to boost Bitcoin. I
already approached 3 new merchants today, to ask if they want to start accepting Bitcoin as a payment option and 2 of the
3 agreed. One is a little Burrito shop and the other a Shoe shop. We need to work out the specifics, but I helped them with the
basics. This post motivated me today, to get off my own ass and to make a difference.
already approached 3 new merchants today, to ask if they want to start accepting Bitcoin as a payment option and 2 of the
3 agreed. One is a little Burrito shop and the other a Shoe shop. We need to work out the specifics, but I helped them with the
basics. This post motivated me today, to get off my own ass and to make a difference.
Those people who are holding less amount of btc is not to blame. We can put the blame on those whales trying to dump all their coins just because of FUD. There are lot of investors right now who are too emotional and doesn't understand the volatility of the crypto market. When a sudden dip is happening they tend to panic sell all their coins and this could affect the performance of the market specially if you are holding huge amount of BTC.
we know that some bitcoin markets are controlled by whales, but we can not blame the whales either, because whales do not panic the least, they are able to play around the market price. do you know that China is many become a whale and dominates bitcoin market?so today's bitcoin drops are not due to panicked whales, but because selfish and greedy whales control part of the market so they are free to play the market.
nice
Yes, the price increase to $19 000 was spurred on by speculative greed, but we should have grown faster to sustain that progress.
I think the decline in bitcoin price is not anybody's fault, because it is a given that anything that is purely driven by greed/speculative greed will sooner or later collapse and for bitcoin, the consequences of that greed, is the declining price we see today. The decline in price is because more people are selling than are buying. Or the overall sums are lower.
And who can sell coins, only those that have coins in the first place, and that's us, those who use BTC.
The decline in Bitcoin prices could be even worse in the coming months. The reason, this digital currency (cryptocurrency) has no fundamental value.
This is the result of published Capital Economics research.
This is the result of published Capital Economics research.
Yeah, right, how many times have we heard that already?
If BTC have no fundamental value can you please send all your satoshis to the address in my profile?
~ Ask Merchants to install a Bitcoin ATM in your area.
~ Stop hoarding all our coins and start to buy from the merchants that does accept Bitcoin.
~ Help people to invest in Bitcoin.
~ Stop hoarding all our coins and start to buy from the merchants that does accept Bitcoin.
~ Help people to invest in Bitcoin.
With those 3 I don't agree.
First is that I hate ATMs and their fees, second because that's the decision anyone has to take for himself so you can't push people to do something they don't want and third because...
Hell, asking people to invest to prevent the boat from sinking, even more, it's like....you know the word. Pon....zzz....
I don't think we should be looking for someone to blame.Only those who spread false and negative information are to blame.And those who believe sukham are doubly stupid.
I think its not our fault if the bitcoins price decline. There are so many factors that can affect the bitcoin price. Like hackers and fake news against bitcoin. But maybe we can also contribute to the decline of bitcoin. Because of panic seller.
It's not all about that at all. The market itself from it's supply and demand determines the price of BTC. It's been a talk that the whales are all behind this. Some say the market is being manipulated which has a point and with all the FUDs spreading. One thing for sure, without us, BTC is just a cryptocurrency. It's like a vehicle and we ride it. It won't move if there is no one who would drive right?
You have given some very good tips which we should follow. And yes it is true that it is not only the other factors which are responsible for the current situation. We are responsible too. We must stop spreading FUDs and buy bitcoin as much as possible to increase the demand. We should also try to transact other things through bitcoin too.
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~ Start using the Lightning Network to fast track the implementation.
~ Get SegWit addresses
~ Get SegWit addresses
How would this increase the price of Bitcoin?
It wouldn't really have any direct effect on the price, except it might just make Bitcoin look better because of lower fees and faster transactions.
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~ Approach local merchants to ask if they would accept Bitcoin.
~ Stop hoarding all our coins and start to buy from the merchants that does accept Bitcoin.
~ Stop hoarding all our coins and start to buy from the merchants that does accept Bitcoin.
The thing with this is that most merchants immediately exchange their BTC to fiat, which would be driving the price down, not up.
If your constantly buying stuff with your coins, you're essentially lowering its value, since you're basically selling your Bitcoins to exchanges indirectly.
The Lightning Network will make Bitcoin more effective and people might develop more Applications that use micro payments and the LN for these Applications. The LN also makes most Alt coins ineffective and the investments in these Alt coins might flow to Bitcoin.
Even if merchants convert directly to Fiat, people will still be buying it, because they want to spend it for services and products at these merchants. This will drive up the price, because there will be a increase in the demand. It will even be more effective, if these merchants only accept Bitcoin as a payment option.
I can definitely understand that the more Bitcoin gets adopted by merchants, the more promotion it gets by all the Bitcoin logo's that are displayed.
It's just that, it would be double as effective if you could provide merchants with a payment soltution that allows them to keep part of their revenue as Bitcoins. I think Overstock is actually doing this btw.
Maybe smaller shops would be interested in only accepting Bitcoin, but it would be a pretty bad business strategy.
You'd want to attract as many customers as possible, if you only accept Bitcoin, you'd be turning away a lot of potential customers by default.
Offering discounts for using Bitcoin is a much better idea
They already get that option when they use some of the Payment processors. You chose the option that suits your needs and your Crypto currency goals. If you want to hoard 20% of the coins you receive, then you configure the options in some of these Payment processors to do just that.
Bigger merchants can also do that. Just imagine if they give a huge discount on ONE popular item, if people pay with bitcoins? A electronic
goods store might sell all their XBox's for a huge discount and only offer this discount to people who pay with bitcoins.
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