Price Alert! Bitcoin is lower than 12 months ago

ScreamnShout

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Quote from: mmortal03 on November 09, 2014, 03:28:58 AM

We're back above where we were 365 days ago, at least for a couple of days here.

I really don't see any reason why bitcoin will start to skyrocket anytime soon like it did last November, so I think it would be more or less unlikely that we will stay above where we were a year ago for very long

xcapator

sr. member

Activity: 322

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Here I Am !!

I just bought in again myself a few more coins. BTC seems to be recovering, just like it has the last two years in the fall.

People are investing again, and do remember that this is november, everyone knows what happened to BTC price last year, so price may increase any time

BlindMayorBitcorn

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Quote from: mmortal03 on November 09, 2014, 03:28:58 AM

We're back above where we were 365 days ago, at least for a couple of days here.

mmortal03

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We're back above where we were 365 days ago, at least for a couple of days here.

Nagle

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Quote from: poncom on November 08, 2014, 02:33:26 PM

How come some really big bitcoin farms are in China? How can the owners sell their bitcoins?

Because that's "manufacturing and exporting". That's a permitted way to get value out of China. It's not in yuan yet, so exchange controls don't apply. I suspect some of those Bitcoin mining farms are even getting industrial development loans.

darkangel11

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Defend Bitcoin and its PoW: bitcoincleanup.com

Quote from: dropt on November 08, 2014, 10:24:37 PM

Quote from: darkangel11 on November 08, 2014, 09:12:30 PM

Not all want to buy Yuan. If I were a miner in China I'd move bitcoins to a foreign exchange and turn into USD or GBP or Euro.

Why? You're making the assumption that they're loaded with Yuan. I live in Canada, why would I want Euros? If I want to buy a sweet house on the lake a slick BMW to get there, I need CAD, not Euro. What's the benefit of being Chinese, in China, and having a bunch of USD when your local economy runs on the Yuan?

If my government was trying to ban bitcoin and make moving money out of the country a problem, I'd look to switch to a diferent currency. A Chinese in China should be concerned with what the government is doing and that his wealth, dumped into Yuan, may be going into a black hole. Maybe I'm just paranoid Wink

Wilhelm

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Quote from: vm89 on November 08, 2014, 10:30:54 PM

Quote from: wobber on November 07, 2014, 05:17:12 PM

So now, officially, no uber-bull can counterargument that even if price is higher than 1,3,6,8 months ago, overall BTC is doing great.

No, it's not doing great. It's actually doing very badly. Lots of people lost money with it and lots of bad publicity was cast over Bitcoin (deep web use, FBI's arrests, miner scandals).

PS> Don't sell because of bearish posts also. You will just push the price lower.

Great time to buy! People say it's because the miners in China trying to sell all their coins - despite they're making negative profit.

LOL @ negative profit

vm89

newbie

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Quote from: wobber on November 07, 2014, 05:17:12 PM

So now, officially, no uber-bull can counterargument that even if price is higher than 1,3,6,8 months ago, overall BTC is doing great.

No, it's not doing great. It's actually doing very badly. Lots of people lost money with it and lots of bad publicity was cast over Bitcoin (deep web use, FBI's arrests, miner scandals).

PS> Don't sell because of bearish posts also. You will just push the price lower.

Great time to buy! People say it's because the miners in China trying to sell all their coins - despite they're making negative profit.

Malin Keshar

hero member

Activity: 616

Merit: 500

Quote from: poncom on November 08, 2014, 02:33:26 PM

Quote from: Nagle on November 08, 2014, 02:26:54 PM

A year ago, we had the start of the China-driven bubble. China has exchange controls; it's hard to get money out of China.
For a few months, Bitcoins were a safe, easy, legal, online way for people in China to get money out of yuan and into dollars and euros.

Then the People's Bank of China cracked down on Bitcoins. The bubble popped. It took a while to run down, and now it's over.

How come some really big bitcoin farms are in China? How can the owners sell their bitcoins?

They use their own local exchanges, I guess?

Move money in and out China might be troublish

dropt

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Quote from: darkangel11 on November 08, 2014, 09:12:30 PM

Not all want to buy Yuan. If I were a miner in China I'd move bitcoins to a foreign exchange and turn into USD or GBP or Euro.

Why? You're making the assumption that they're loaded with Yuan. I live in Canada, why would I want Euros? If I want to buy a sweet house on the lake a slick BMW to get there, I need CAD, not Euro. What's the benefit of being Chinese, in China, and having a bunch of USD when your local economy runs on the Yuan?

darkangel11

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Activity: 2296

Merit: 1335

Defend Bitcoin and its PoW: bitcoincleanup.com

Quote from: poncom on November 08, 2014, 02:33:26 PM

Quote from: Nagle on November 08, 2014, 02:26:54 PM

A year ago, we had the start of the China-driven bubble. China has exchange controls; it's hard to get money out of China.
For a few months, Bitcoins were a safe, easy, legal, online way for people in China to get money out of yuan and into dollars and euros.

Then the People's Bank of China cracked down on Bitcoins. The bubble popped. It took a while to run down, and now it's over.

How come some really big bitcoin farms are in China? How can the owners sell their bitcoins?

Not all want to buy Yuan. If I were a miner in China I'd move bitcoins to a foreign exchange and turn into USD or GBP or Euro.

inca

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Quote from: Nagle on November 08, 2014, 02:26:54 PM

A year ago, we had the start of the China-driven bubble. China has exchange controls; it's hard to get money out of China.
For a few months, Bitcoins were a safe, easy, legal, online way for people in China to get money out of yuan and into dollars and euros.

Then the People's Bank of China cracked down on Bitcoins. The bubble popped. It took a while to run down, and now it's over.

Are you as sure as you were in 2011?

poncom

sr. member

Activity: 318

Merit: 250

Quote from: Nagle on November 08, 2014, 02:26:54 PM

A year ago, we had the start of the China-driven bubble. China has exchange controls; it's hard to get money out of China.
For a few months, Bitcoins were a safe, easy, legal, online way for people in China to get money out of yuan and into dollars and euros.

Then the People's Bank of China cracked down on Bitcoins. The bubble popped. It took a while to run down, and now it's over.

How come some really big bitcoin farms are in China? How can the owners sell their bitcoins?

Nagle

legendary

Activity: 1204

Merit: 1000

A year ago, we had the start of the China-driven bubble. China has exchange controls; it's hard to get money out of China.
For a few months, Bitcoins were a safe, easy, legal, online way for people in China to get money out of yuan and into dollars and euros.

Then the People's Bank of China cracked down on Bitcoins. The bubble popped. It took a while to run down, and now it's over.

Chef Ramsay

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Despair is a crazy drug! Can't blame people for not being able to take the medicine from the last overdose and rationally moving on while keeping all market conditions under advisement.

poncom

sr. member

Activity: 318

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There never was any guarantee it would go up, but now is a much better time to buy than when it was $1200. Before each previous bubble people said it was finished and could never go any higher.

TinaK

hero member

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Everyone know that the current price lower than the same period last year. But even if prices are low, there are still many people are making money ( losing is more, I admit)

batmanbad

sr. member

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Exactly what I was saying boys, exactly. You all thought Bitcoin was guaranteed to go up long-term. You are wrong. Bitcoin was never guaranteed to go up. Who knows, this could be the end of Bitcoin.

pa

hero member

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How much would you have now if you had bought $1 of bitcoin on each day the price was lower than 12 months earlier?

Ibian

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I'm banking on another half year of low prices. Next couple months income will go to a two month vacation, then back to buying coins when I get back.

Topic: Price Alert! Bitcoin is lower than 12 months ago (Read 2840 times)