Topic: The elephant in the room. - page 2. (Read 2905 times)

Bitcoin will lose value when owners will start hoarding their coins without any usage. Bitcoin value is strongly tied to the amount of transactions because that is what keeps faith in the format of value. Without transaction volume, bitcoin will just fade into a list of empty promises. Gold is not like that because golds value is less speculative then with BTC. Gold can be used in electronics or apparel and this gives real value besides speculative value to gold.
The real value of bitcoin and cryptocurrencies in general is the ability to transfer funds safely and efficiently. Holding coins alone is just a big waste of an good value transfer system.

Meh, let speculators speculate. I'm fine if my btc climbs in value.

This is a bit of an assumption too - yeah there will be a lot of short term view speculators involved, but perhaps there is also a lot of money coming in from people that see the potential value of the technology as a store of value and plan to buy and hold (like gold)

I am saying that the price is lower then it should be, because these sudden spikes and falls that took place in the past. Spikes and falls like that show instability and create mistrust among the investors. The cryptocurrency value needs to spread out among other altcoins because doing this creates more stability and that will win investors in the long run. If you are not ready yet for others, then at least consider LTC that is the current nr.2

I would rather say "highly possible". Just look at the orderbooks of USD/BTC CNY/BTC EUR/BTC and look at the value history in long and short term. Saying "it is possible" is surely an understatement.

Yes, it will recover, but it will take more time then it should. That was the main point that I was trying to make.


Yes there is, there are corporations, companies and partnerships for instance. If an entire sector is small and efficient enough, then it can orginize together to act in a way that is best for the entire sector. Those who have more influence in the community have to take lead and the rest will follow.

The 2011 bubble up to $32 was far larger than anything else we've seen.  Relatively speaking, it beats this 'bubble' by a mile.  The price crashed and recovered to (now) 15x the 2011 high.  And, more people are using bitcoins than ever before.  Look at a logarithmic chart of price over time and then reconsider if the price is rising to quickly.

It isn't an elephant in the room most people are aware a crash is possible.  Bitcoin will recover.  It always has.   Not everyone will take 6 months off.

As far as "sticking together" to inflate an altcoin well ... that is just foolish.  There is no "stick together" in free markets.  Bitcoin doesn't need anyone to "stick together" but best of luck.

The current bitcoin value trend has a very high probability for a crash. The rise is too fast and a lot of the money coming in, is from people who only see bitcoin as a get-rich-quick scheme. This creates the situation, where most of the market is itchy to sell whenever the sharp upwards spikes stop coming. When this happens, then most of the value in BTC will flow to USD/CNY/EUR/etc. and it will stay there for a long period. Before a new place (India?) picks it up again and creates another boom.
Well, this is all fun to some people, but this actually slows down the financial evolution part, what cryptocurrencies are eventually all about.
I think that there is a real usable solution in keeping those funds in cryptocurrencies and stop the value from flowing back to fiat money. The community has to pull together enough to start a new rise with an alternative cryptocoin, as soon as the value of BTC is falling. This rise will attract back the old investors, that got bored with bitcoin and were looking for a new thing that spikes quickly. Meaning that the crash doesn't have to have the 6 month old recovery period and recovery could be done in couple of weeks.

The cryptocurrency world needs at least 2 cryptos, to keep the overvall markets stimulated and give the value stability. The future will probably hold 10+ cryptos for everyday use, all with it's own financial school of thought and an unique structure. This is how the cryptocurrency technology will make the financial world evolve into a more democratic and transparent system. But enough with future and speculations.

I think we really need to stick together to start a new altcoin spike to hold value in cryptos. I think that the best candidate would be Litecoin, and not for technical reasons, but purely because of it's market cap. ( 1)BTC- 4b$, 2)LTC- 106mil$, 3)PPC- 14mil$ ). With the biggest market cap. of altcoins, Litecoin will have the best starting momentum to start a new boom that will keep cryptos in the picture.