Topic: More Bitcoin adoption = lower Bitcoin/Usd rate! - page 5. (Read 4590 times)
It needs to be easier for people to make decent part-time income from BTC, since full-time money would (probably/mostly) get converted to fiat. If "millions" of people can make ~10% to 25% of their income from BTC, then they would be likely to save it or spend, and not convert to paper cash.
That is a possible scenario, one other thing that might serve as a catalyst is a major worldwide financial system instability/conflict which I think is very likely at some point in the future. But retailers are definitely not helping the price, they would be carrying a pretty big risk if they are not hedged in some way.
I am hoping this is just teething problems but I am starting to doubt it. Shame really as these low prices are putting off all the people who invested in the last year.
A year ago there was all the talk that 1 Bitcoin will be worth 100k etc which caused a temporary boom of people buying for investment but now it is slowly going back to the same normal trading.
So now we are left with corporate adoption but now waiting for some serious hardware/ software to get the sheeple/ ordinary folk to start using it more and therefore buying it more and believing it more. They wont do this without some better gadgets and ease of use etc.
Until more development happens it will slump back down to the 50 USD mark I would imagine.
A year ago there was all the talk that 1 Bitcoin will be worth 100k etc which caused a temporary boom of people buying for investment but now it is slowly going back to the same normal trading.
So now we are left with corporate adoption but now waiting for some serious hardware/ software to get the sheeple/ ordinary folk to start using it more and therefore buying it more and believing it more. They wont do this without some better gadgets and ease of use etc.
Until more development happens it will slump back down to the 50 USD mark I would imagine.
I am hoping this is just teething problems but I am starting to doubt it. Shame really as these low prices are putting off all the people who invested in the last year.
A year ago there was all the talk that 1 Bitcoin will be worth 100k etc which caused a temporary boom of people buying for investment but now it is slowly going back to the same normal trading.
So now we are left with corporate adoption but now waiting for some serious hardware/ software to get the sheeple/ ordinary folk to start using it more and therefore buying it more and believing it more. They wont do this without some better gadgets and ease of use etc.
Until more development happens it will slump back down to the 50 USD mark I would imagine.
A year ago there was all the talk that 1 Bitcoin will be worth 100k etc which caused a temporary boom of people buying for investment but now it is slowly going back to the same normal trading.
So now we are left with corporate adoption but now waiting for some serious hardware/ software to get the sheeple/ ordinary folk to start using it more and therefore buying it more and believing it more. They wont do this without some better gadgets and ease of use etc.
Until more development happens it will slump back down to the 50 USD mark I would imagine.
I would be curious to see hard data from CoinBase, BitPay,etc. supporting this theory. In all honesty I do not think effect of retailers converting to fiat has this dramatic effect so far. If you read recent Bitcoin Bowl retailers feedback (coindesk article) you will notice how underwhelming bitcoin sales were before, during and after the event. I would not blame retailers nor BitPay - they all loose money right now when it comes to Bitcoin. ASIC manufacturers and large, commercial pools most likely the biggest source of dumping cryptos on exchanges.
I wrote this article when the exchange rate was @ 800, look where we are today. Those large retailers are not holding their BTC. They are dumping it on the market!
I think that the more Bitcoin will be adopted, the bigger the price should be because Demand will increase.
I wrote this early 2014 and I think it is still relevant. The more adoption we see the lower Bitcoin/Usd will go!
http://razorsforex.blogspot.com/2014/02/bitcoin-adoption-bitcoin-price-stability.html
http://razorsforex.blogspot.com/2014/02/bitcoin-adoption-bitcoin-price-stability.html
I think that the more Bitcoin will be adopted, the bigger the price should be because Demand will increase.
I wrote this early 2014 and I think it is still relevant. The more adoption we see the lower Bitcoin/Usd will go!
http://razorsforex.blogspot.com/2014/02/bitcoin-adoption-bitcoin-price-stability.html
http://razorsforex.blogspot.com/2014/02/bitcoin-adoption-bitcoin-price-stability.html
I think that the more Bitcoin will be adopted, the bigger the price should be because Demand will increase.
I wrote this early 2014 and I think it is still relevant. The more adoption we see the lower Bitcoin/Usd will go!
http://razorsforex.blogspot.com/2014/02/bitcoin-adoption-bitcoin-price-stability.html
http://razorsforex.blogspot.com/2014/02/bitcoin-adoption-bitcoin-price-stability.html
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