Topic: Keeping Bitcoin Price High (Read 5611 times)

you just need more people using it.  a billion dollar market valuation is not a lot in the business world.   266 or higher could be reached with a multibillion dollar valuation.   we need to develop an economy that large.   it's happening. 

Usability, Development and attention 

If like to keep higher than 266 USD, then what is the factor to keep that up?

Or just buy some network and let it grow for 10 years
Of course if we can even feasibly imagine what it will be priced at then xd

also the less bitcoins mined per miner (as a result of difficulty increase) the higher the price each individual miner has to sell at to break even

I've been mining Bitcoins.  So the higher the price, the higher I can sell my coins for.  The electricity I paid for them is fixed, so the higher I can sell them (or trade them) for, the higher returns I get.

Long investors would be wise to be patient.   Bitcoin services are growing rapidly and are becoming more professional which attracts a larger user base.  Ultimately the value of the currency will be determined by the value of the goods and services that can be exchanged for it.  Pay close attention to businesses that require bitcoin and accept no other method of payment.  According to the following Forbes article business is booming and competitors are entering this space. 

http://www.forbes.com/sites/andygreenberg/2013/06/26/bitcoin-black-market-competition-heats-up-with-pro-marketing-and-millions-at-stake/


Studying the economics of mining is still a worthwhile endeavor.  Obviously the higher difficulty drives prices up assuming all other factors remain the same.

My interpretation of the charts is that bitcoins are slightly undervalued right now when using mining as a cost basis.  http://www.bitcoinx.com/charts/


ASICs are having a profound impact on mining.  Be sure to experiment with bitcoin mining calculators and try simulate market conditions.  It's hard to estimate just how much ASIC hardware is out there on the network.  A lot of it may be in the dark.  Not everyone who makes ASIC hardware sells it.  Some manufacturers put their ASICs to work for themselves.   There is no way to know how much of this activity is going on. 
http://www.bitcoinx.com/profit/


In the end the miners are there because there is a burgeoning market need for bitcoins; it's not the other way around.  Look for business growth, media attention, wider consumer adoption, stuff like that if you want to predict the long term price of a bitcoin.

Actually, the mtgox price has been lagging behind the other exchanges. I guess the mtgox users are just sheep following btc-e and bitstamp.

All this talk of keeping the bitcoin cycle closed is crazy. If the market price for bitcoins is too high, it will drop.

Could you imagine what would happen if Canadian dollars would only hold their value if people didn't exchange them for American (or anything) dollars? We would be in a lot of trouble in Canada, and wouldn't be able to buy anything but beaver pelts and corrupt politicians.

That is Argentinian talk.

Once the market is big enough there will be a lot less volatility. But there is only one thing to blame for the falling price, lack of buyers.

shallow orderbooks are a problem... but I think a bigger problem is that everyone and their brother pegs their prices to gox - so any time it's affected everything else follows it. Specifically, speculators on every other exchange. It isn't efficient in the sense that it being arbitrated - people are just following that single market to set their price.

i got it!

buy some cocaine with btc in the silkroad and sell it for usd. big profit!

  You people should read some books on trading/investing/economics. Seriously. Anything.

yeah i've been buying whilst they are low thinking its hit the bottom, and it just drops further and further! i am ok with it at the moment though :-) theres a few things i wanna buy in BTC so let it keep dropping! haha

If you believe bitcoin prices will in the next 10 years become worth 1000s or even 100s of 1000s of dollars like some people suggest, wouldn't you want to keep prices low, not high?

I would think you'd want prices to be high only if you were one of the lucky few that picked up 1000s of coins at the very early stages OR you wanted to sell your coins now.

I really hope you're right, it'd be nice to regain the paper loss since I bought my bitcoins.  I feel dumb for buying them when they were at $100 now, but oh well.

If Mt. Gox keeps their word and allows for cash withdrawals for USD tomorrow, we will see a massive buy back in and the price will shoot up I would imagine.

I think people are just anxious.

Everyone is selling... :-)

Whatever it is you are doing please stop. It didn't work

You can't do anything to "keep" the price high.  The price will always reflect the current supply/demand situation.

There's already a website that handles billpay in bitcoin: https://www.billpayforcoins.com/index.php, which should take care of the utility companies part of the equation, they aren't even charging any fees for it (for now).  Getting supermarkets to accept bitcoin would be much harder though because intermediaries like this wouldn't work like this unless you're one of the rare people who buys all your food online.  It's also harder because unlike utilities which there are relatively few of, there are a lot of different supermarkets.  Not an impossible task, but definitely difficult, I would imagine.