Reason for decline over months | Bitcointalksearch.org

crocko

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'All that glitters is not gold'

Quote from: SunBin on September 16, 2014, 10:47:20 PM

Cooperate mining is the main reasons.

Back in the old days, people who mine believe in the technology and refuse to sell at low price. Cooperate miners will sell at any price if there is profit margin.

+1 These new huge farms / cloud mining business must pay the bill for electricity and maintenance, therefore they always must sell.
The golden age of mining at home is at twilight.

bitleif

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I'm always grumpy in the morning.

Quote from: ravenjt on September 17, 2014, 04:27:49 PM

what surprises me is how little the transaction volume has increased. Transactions are everything for bitcoin. Bitcoin will go to the moon if it is adopted as a payment mechanism, which means massive levels of transactions.
but the volume remains utterly miniscule. A few tens of thousands btc traded per day, and most of that can be accountedfor in terms of miners and speculators.
good news would be an increase in transactions to an economically material level

If you want to compare transaction volumes with the past you have to compare it in fiat values though, 10 BTC today is not the same as 10 BTC a year ago.

Mieehayii

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I also have doubts like you, when we can meet it on the moon?

scarsbergholden

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Quote from: zimmah on September 17, 2014, 01:05:08 AM

transaction rates and bitcoin price go hand in hand.

more transactions means higher value, and higher value means more transactions.

I would posit that it is not transactions at all that are important, but users. And more to the point, not all users are created equal (not all users equally add to the network's accessibility/robustness) -- and that is the essential flaw in Metcalfe's law. Transactions tell us very little about the nature of users; for all we know, a single entity or group of entities are inflating transaction volume to make the network appear more robust than it really is.

ravenjt

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Quote from: zimmah on September 17, 2014, 01:05:08 AM

Quote from: hd060053 on September 16, 2014, 05:32:17 PM

We are pricing in the sell-off of 200.000 gox-coins.

Also, we are not sure yet, if the 1200 rally was driven by self-created-gox-usd by mark k.

(read willy report http://willyreport.wordpress.com/2014/05/25/the-willy-report-proof-of-massive-fraudulent-trading-activity-at-mt-gox-and-how-it-has-affected-the-price-of-bitcoin/)

transaction rates and bitcoin price go hand in hand.

more transactions means higher value, and higher value means more transactions.

the transactions are nearing an all time high, the only time it has been (slightly) higher was a few days during november last year.

If this trend continues for a few more weeks, we will see the highest amount of transactions ever in bitcoin history, and the price will quickly follow.

what surprises me is how little the transaction volume has increased. Transactions are everything for bitcoin. Bitcoin will go to the moon if it is adopted as a payment mechanism, which means massive levels of transactions.
but the volume remains utterly miniscule. A few tens of thousands btc traded per day, and most of that can be accountedfor in terms of miners and speculators.
good news would be an increase in transactions to an economically material level

obocaman

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Dumb people that are only in for speculation purposes leave when they panick, they do not understand the revolution.

Ibian

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Quote from: Dalmar on September 17, 2014, 03:47:41 AM

Quote from: ?? on ??

Countries banning bitcoin is a good sign, plus, it won't stop people dealing in bitcoin...

It is a bearish sign as it interferes with legitimate businesses dealing with bitcoin in those countries. Average joe sheeple in those places won't bother with bitcoin because they think it is illegal or shady.

The black market is huge and it only deals in what has value. If the black market rejected bitcoin then we should worry.

Hunyadi

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☑ ♟ ☐ ♚

Quote from: yokosan on September 17, 2014, 01:36:54 AM

Quote from: Buo on September 17, 2014, 01:23:51 AM

I really hope so but at the moment I can't see the end of this dark tunnel...

I LOVE reading comments like this.

Anybody that has been through a Bitcoin bubble or two knows how different it is... the euphoria... the dreams of $10,000 within the next 2 weeks... it's absolute insanity.

During the bubble everybody wishes they bought lower... THIS is that lower... THIS is what it is like to buy BEFORE the bubble when you should have bought in...

Not so easy when you are actually here is it...? When the people are depressed... when they are worrying... the despair... but this is it...

You have to take a leap of faith... to go against the grain and to beat the rest of the market... because that is what you have to do. Every buyer has a seller and if you are to buy low and sell high you will have to outwit the people you are buying and selling from.

I am experiencing the euphoria right now because we have had good news after good news and price drop after price drop. The perfect storm for anybody looking for cheap coins with a chance at a bubble in the short term. It is so obvious to me that this can't keep up. At some point the market will turn, and when it does... when everybody else is buying... that's when I will be selling.

Very well put!

Dalmar

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Life is short, practice empathy in your life

Quote from: ?? on ??

Countries banning bitcoin is a good sign, plus, it won't stop people dealing in bitcoin...

It is a bearish sign as it interferes with legitimate businesses dealing with bitcoin in those countries. Average joe sheeple in those places won't bother with bitcoin because they think it is illegal or shady.

Dalmar

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Life is short, practice empathy in your life

Quote from: hd060053 on September 16, 2014, 05:32:17 PM

We are pricing in the sell-off of 200.000 gox-coins.

Also, we are not sure yet, if the 1200 rally was driven by self-created-gox-usd by mark k.

(read willy report http://willyreport.wordpress.com/2014/05/25/the-willy-report-proof-of-massive-fraudulent-trading-activity-at-mt-gox-and-how-it-has-affected-the-price-of-bitcoin/)

And the fact that many developing countries are banning/restricting bitcoin (Bangladesh, China, Bolivia, Russia etc etc..).

Many speculators hoped it would take off in the remittances market, but if this trend continues, bitcoin will be practically useless for remittances.

Forbet

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Quote from: heartastack on September 17, 2014, 03:30:15 AM

Quote from: yokosan on September 17, 2014, 01:36:54 AM

Quote from: Buo on September 17, 2014, 01:23:51 AM

I really hope so but at the moment I can't see the end of this dark tunnel...

I LOVE reading comments like this.

Anybody that has been through a Bitcoin bubble or two knows how different it is... the euphoria... the dreams of $10,000 within the next 2 weeks... it's absolute insanity.

During the bubble everybody wishes they bought lower... THIS is that lower... THIS is what it is like to buy BEFORE the bubble when you should have bought in...

Not so easy when you are actually here is it...? When the people are depressed... when they are worrying... the despair... but this is it...

You have to take a leap of faith... to go against the grain and to beat the rest of the market... because that is what you have to do. Every buyer has a seller and if you are to buy low and sell high you will have to outwit the people you are buying and selling from.

I am experiencing the euphoria right now because we have had good news after good news and price drop after price drop. The perfect storm for anybody looking for cheap coins with a chance at a bubble in the short term. It is so obvious to me that this can't keep up. At some point the market will turn, and when it does... when everybody else is buying... that's when I will be selling.

Whilst buy low sell high is good practise, don't confuse buying low with 'catching a falling knife' . The trend is your friend when managing risk.

Good way to put it. I've gotten used to buying bitcoins and expecting the price to go lower. But people who are more risk adverse than I should follow your advice and buy on solid up trends.

heartastack

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Quote from: yokosan on September 17, 2014, 01:36:54 AM

Quote from: Buo on September 17, 2014, 01:23:51 AM

I really hope so but at the moment I can't see the end of this dark tunnel...

I LOVE reading comments like this.

Anybody that has been through a Bitcoin bubble or two knows how different it is... the euphoria... the dreams of $10,000 within the next 2 weeks... it's absolute insanity.

During the bubble everybody wishes they bought lower... THIS is that lower... THIS is what it is like to buy BEFORE the bubble when you should have bought in...

Not so easy when you are actually here is it...? When the people are depressed... when they are worrying... the despair... but this is it...

You have to take a leap of faith... to go against the grain and to beat the rest of the market... because that is what you have to do. Every buyer has a seller and if you are to buy low and sell high you will have to outwit the people you are buying and selling from.

I am experiencing the euphoria right now because we have had good news after good news and price drop after price drop. The perfect storm for anybody looking for cheap coins with a chance at a bubble in the short term. It is so obvious to me that this can't keep up. At some point the market will turn, and when it does... when everybody else is buying... that's when I will be selling.

Whilst buy low sell high is good practise, don't confuse buying low with 'catching a falling knife' . The trend is your friend when managing risk. I would go a dimension higher and say I would buy when it is someone like you who is depressed, and finally bottoms it out

yokosan

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Activity: 700

Merit: 500

Quote from: Buo on September 17, 2014, 01:23:51 AM

I really hope so but at the moment I can't see the end of this dark tunnel...

I LOVE reading comments like this.

Anybody that has been through a Bitcoin bubble or two knows how different it is... the euphoria... the dreams of $10,000 within the next 2 weeks... it's absolute insanity.

During the bubble everybody wishes they bought lower... THIS is that lower... THIS is what it is like to buy BEFORE the bubble when you should have bought in...

Not so easy when you are actually here is it...? When the people are depressed... when they are worrying... the despair... but this is it...

You have to take a leap of faith... to go against the grain and to beat the rest of the market... because that is what you have to do. Every buyer has a seller and if you are to buy low and sell high you will have to outwit the people you are buying and selling from.

I am experiencing the euphoria right now because we have had good news after good news and price drop after price drop. The perfect storm for anybody looking for cheap coins with a chance at a bubble in the short term. It is so obvious to me that this can't keep up. At some point the market will turn, and when it does... when everybody else is buying... that's when I will be selling.

Buo

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Merit: 10

Quote from: zimmah on September 17, 2014, 01:05:08 AM

Quote from: hd060053 on September 16, 2014, 05:32:17 PM

We are pricing in the sell-off of 200.000 gox-coins.

Also, we are not sure yet, if the 1200 rally was driven by self-created-gox-usd by mark k.

(read willy report http://willyreport.wordpress.com/2014/05/25/the-willy-report-proof-of-massive-fraudulent-trading-activity-at-mt-gox-and-how-it-has-affected-the-price-of-bitcoin/)

transaction rates and bitcoin price go hand in hand.

more transactions means higher value, and higher value means more transactions.

the transactions are nearing an all time high, the only time it has been (slightly) higher was a few days during november last year.

If this trend continues for a few more weeks, we will see the highest amount of transactions ever in bitcoin history, and the price will quickly follow.

I really hope so but at the moment I can't see the end of this dark tunnel...

zimmah

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Activity: 1106

Merit: 1005

Quote from: hd060053 on September 16, 2014, 05:32:17 PM

We are pricing in the sell-off of 200.000 gox-coins.

Also, we are not sure yet, if the 1200 rally was driven by self-created-gox-usd by mark k.

(read willy report http://willyreport.wordpress.com/2014/05/25/the-willy-report-proof-of-massive-fraudulent-trading-activity-at-mt-gox-and-how-it-has-affected-the-price-of-bitcoin/)

transaction rates and bitcoin price go hand in hand.

more transactions means higher value, and higher value means more transactions.

the transactions are nearing an all time high, the only time it has been (slightly) higher was a few days during november last year.

If this trend continues for a few more weeks, we will see the highest amount of transactions ever in bitcoin history, and the price will quickly follow.

SunBin

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Cooperate mining is the main reasons.

Back in the old days, people who mine believe in the technology and refuse to sell at low price. Cooperate miners will sell at any price if there is profit margin.

GreenCoin22

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Gox-coin?

wake up

yokosan

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draper, shavers, karpeles, they all sellin'

var53

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It's debatable if any gox-coins were really stolen, and how many, but someone has to eventually dump them. Have they been dumping them slowly over the months, and are they dumping them now?

yokosan

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like dis if u hodl evri day

Topic: Reason for decline over months (Read 2124 times)