Let's create scarcity via crowdpumping

tokeweed

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Life, Love and Laughter...

Quote from: thms on April 19, 2015, 10:04:20 AM

If we stop spending bitcoin for one month, and instead, we agree to each one of us to acquire 1 BTC more to add to our stash during this month, how much would the price increase?

We could call this "1BTC month"

Nice idea! Let's go guys! Let's do this.

BillyBobZorton

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Quote from: billyjoeallen on April 22, 2015, 10:32:07 AM

Quote from: Razick on April 21, 2015, 05:26:40 PM

Quote from: thms on April 19, 2015, 10:04:20 AM

If we stop spending bitcoin for one month, and instead, we agree to each one of us to acquire 1 BTC more to add to our stash during this month, how much would the price increase?

We could call this "1BTC month"

Research game theory. It won't work. Everyone who is willing to hold probably is. If someone is considering selling right now, they will be more likely to do so if the price spikes. Even if everyone is honest and holds out as planned, non-participants will be able to sell, and probably will. There's also the problem of what happens when the month is over. Just let the market run it's course.

^^this^^

I was going to say the same thing. If you're a bad trader, just dollar cost average. Otherwise, you have to wait for the buying and selling opportunities.

Thats what I say. The problem is a lot of people out there don't have enough money to even do a small dollar cost average, specially with something risky such as BTC (for us isnt, but for the average joe is a big risk since they aren't familiar with it).

billyjoeallen

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Quote from: Razick on April 21, 2015, 05:26:40 PM

Quote from: thms on April 19, 2015, 10:04:20 AM

If we stop spending bitcoin for one month, and instead, we agree to each one of us to acquire 1 BTC more to add to our stash during this month, how much would the price increase?

We could call this "1BTC month"

Research game theory. It won't work. Everyone who is willing to hold probably is. If someone is considering selling right now, they will be more likely to do so if the price spikes. Even if everyone is honest and holds out as planned, non-participants will be able to sell, and probably will. There's also the problem of what happens when the month is over. Just let the market run it's course.

^^this^^

I was going to say the same thing. If you're a bad trader, just dollar cost average. Otherwise, you have to wait for the buying and selling opportunities.

RodeoX

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The revolution will be monetized!

BTC does not need my help. The price is where it should be based on the supply and the demand. It is unhealthy to introduce altruism into the economy as it will only distort the price and cannot be sustained without an infinite number of bitcoins.

It may take years, even decades to get to a high valuation again. That's fine. This project is about fair money not high prices for bitcoin.

ensurance982

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Trust me!

Quote from: flyingplows on April 21, 2015, 04:44:39 PM

Quote from: ensurance982 on April 21, 2015, 07:07:00 AM

Quote from: flyingplows on April 20, 2015, 02:16:48 PM

Even if we increase BTC price using some market manipulation methods which I doubt - we will end up crashing like after MtGox when everyone wants to be smart and sell while it is overpriced, especially if everybody knows it's overpriced cause it was forced to be such unnaturally Wink

The only way to increase the price is to attract more people to hold it or even better to hold it and use it as often as possible.

Even if this plays out exactly like you've outlined we would still have a huge influx of people new to Bitcoin who invest in it for the first time. Bitcoins adoption grows with every bubble. I even believe it sort of needs those bubbles to expand even further!

But at what cost? An influx of new people to lose their invested money to more experienced traders when bubble collapses? It will only make worse bitcoins reputation which is already suffering by people losing money left and right. We need people to take crypto seriously and not a risky game worth risking 10$ cause anything can happen anytime and you can lose everything Wink

This happens on the 'regular' stock market each and every day. Novice traders and inexperienced people get wiped out, sell at the bottom, panic sell, etc. every day. And still there are stocks, there's forex, there's margin trading, etc. With Bitcoin the amount of people who profit from it will at least potentially go up eventually.

Razick

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Quote from: thms on April 19, 2015, 10:04:20 AM

If we stop spending bitcoin for one month, and instead, we agree to each one of us to acquire 1 BTC more to add to our stash during this month, how much would the price increase?

We could call this "1BTC month"

Research game theory. It won't work. Everyone who is willing to hold probably is. If someone is considering selling right now, they will be more likely to do so if the price spikes. Even if everyone is honest and holds out as planned, non-participants will be able to sell, and probably will. There's also the problem of what happens when the month is over. Just let the market run it's course.

flyingplows

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Quote from: ensurance982 on April 21, 2015, 07:07:00 AM

Quote from: flyingplows on April 20, 2015, 02:16:48 PM

Even if we increase BTC price using some market manipulation methods which I doubt - we will end up crashing like after MtGox when everyone wants to be smart and sell while it is overpriced, especially if everybody knows it's overpriced cause it was forced to be such unnaturally Wink

The only way to increase the price is to attract more people to hold it or even better to hold it and use it as often as possible.

Even if this plays out exactly like you've outlined we would still have a huge influx of people new to Bitcoin who invest in it for the first time. Bitcoins adoption grows with every bubble. I even believe it sort of needs those bubbles to expand even further!

But at what cost? An influx of new people to lose their invested money to more experienced traders when bubble collapses? It will only make worse bitcoins reputation which is already suffering by people losing money left and right. We need people to take crypto seriously and not a risky game worth risking 10$ cause anything can happen anytime and you can lose everything Wink

ensurance982

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Activity: 518

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Trust me!

Quote from: flyingplows on April 20, 2015, 02:16:48 PM

Even if we increase BTC price using some market manipulation methods which I doubt - we will end up crashing like after MtGox when everyone wants to be smart and sell while it is overpriced, especially if everybody knows it's overpriced cause it was forced to be such unnaturally Wink

The only way to increase the price is to attract more people to hold it or even better to hold it and use it as often as possible.

Even if this plays out exactly like you've outlined we would still have a huge influx of people new to Bitcoin who invest in it for the first time. Bitcoins adoption grows with every bubble. I even believe it sort of needs those bubbles to expand even further!

flyingplows

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Even if we increase BTC price using some market manipulation methods which I doubt - we will end up crashing like after MtGox when everyone wants to be smart and sell while it is overpriced, especially if everybody knows it's overpriced cause it was forced to be such unnaturally Wink

The only way to increase the price is to attract more people to hold it or even better to hold it and use it as often as possible.

Amph

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this is usually what the whales do right now, but they buy much more then 1 btc each, but after that they dump a bit to start a panic selling and buying again

also your suggestion could lead to a thing that may look like a ponzi, because at some point the first who bought must sell to the wall of the last, better to let the market adjust itself

ensurance982

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Trust me!

So, effectively a pump and dump!? Well, what you're suggesting here is basically speculation. Even though the 'regular' speculation isn't that coordinated, it's exactly what drives Bitcoin since day 1!

WhatTheGox

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Quote from: JimboToronto on April 19, 2015, 12:09:24 PM

Quote from: thms on April 19, 2015, 10:04:20 AM

If we stop spending bitcoin for one month, and instead, we agree to each one of us to acquire 1 BTC more to add to our stash during this month, how much would the price increase?

We could call this "1BTC month"

I'm already participating.

I buy at least 1BTC more than I spend every month.

Every month is "1BTC Month".

+1 im picking up approx 1 bitcoin per month extra, if the price drops further i would buy a 1 off chunk of more.

Torque

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Don't worry, the moment that tens or even hundreds of thousands of people suddenly decide they all want a single bitcoin at the same time will happen eventually... it's called a rally. Wink

johnyj

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Beyond Imagination

In fact, if you could get bitcoin mortgaged and receive loan for it, it can grow to a level until all the fiat money in banks are drained

Maybe the banks might not want this to happen, but the first few banks who provide this possibility will easily drive a credit bubble on bitcoin

manselr

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Quote from: thms on April 19, 2015, 10:04:20 AM

If we stop spending bitcoin for one month, and instead, we agree to each one of us to acquire 1 BTC more to add to our stash during this month, how much would the price increase?

We could call this "1BTC month"

Im already not spending much, because I haven't got much to spend. My mission right now is to try to collect as many as possible, because anyone with half a brain knows we are blessed to be able to have a second chance to get entire units of Bitcoin at affordable prices.

If I spend something it's always little, ie: just bought a steam game with BTC.

JimboToronto

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You're never too old to think young.

Quote from: thms on April 19, 2015, 10:04:20 AM

If we stop spending bitcoin for one month, and instead, we agree to each one of us to acquire 1 BTC more to add to our stash during this month, how much would the price increase?

We could call this "1BTC month"

I'm already participating.

I buy at least 1BTC more than I spend every month.

Every month is "1BTC Month".

Sarthak

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Error 404: there seems to be nothing here.

Don't expect people will follow you!
80%+ of the people don't invest in bitcoin and enjoy freebies (like sig campaign,games and rounds)
And the rest 20% wouldn't do what you say Tongue

Anyways, not a bad idea! If you find some 20k people to buy 1 BTC for crowdpumping , go sell your house quick and invest, Bitcoin is going to the moooon Grin

redsn0w

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#Free market

I think it will not change anything in the price, you should buy 1 btc per day (with all the other users) to 'raise' the price of 0.50 / 1 dollar .

Quote from: coinableS on April 19, 2015, 11:22:16 AM

Yea, let's try to manipulate the price of a new technology that lots of people are already very skeptical about. Roll Eyes

I hope that all this speculation will end one day, in that moment we will see the 'real price of bitcoin'. It is not normal 1'000 dollars per btc and after more than one year we are here with 220 dollars per bitcoin

.

coinableS

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Yea, let's try to manipulate the price of a new technology that lots of people are already very skeptical about. Roll Eyes

randy8777

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it doesn't matter how much the price will go up. people want the bitcoin price to go up naturally. and not via ways that don't make much sense. stable and real growth above anything.

Topic: Let's create scarcity via crowdpumping (Read 1484 times)