Dont hate on me, shoot your opinions 
We don't hate you because you don't have a clue.
Hint: Bitcoin isn't a currency...
Topic: Thing about price dropping of BTC that people dont get (Read 3358 times)
We don't hate you because you don't have a clue.
Hint: Bitcoin isn't a currency...
Wow we're back with this argument again. Every time the price drops 5% we get these threads. I guess for Bitcoin's price to rise we need to have nobody use it for merchant transactions and hence nobody will be dumping it for fiat - then it will shoot to the moon! That's the ticket! 
Totally agree!!!
Wow we're back with this argument again. Every time the price drops 5% we get these threads. I guess for Bitcoin's price to rise we need to have nobody use it for merchant transactions and hence nobody will be dumping it for fiat - then it will shoot to the moon! That's the ticket!
For start - BTC is a currency not investment, but most people dont get it. Why its important?
The more BIG companies adobt BTC - they do it trought Bitpay Coinbase etc - that means - they SELL same moment they get coins.
Big companies taking BTC are not makign price raise, actually the bigger the company - the worse price will be.
This is why soon price of BTC will drop - more and more big companies are taking it now so soon indeed it will be a currency - but it will be nowhere near your expectations of 1k$ a coin or even curreny 600$.
Dont hate on me, shoot your opinions
The more BIG companies adobt BTC - they do it trought Bitpay Coinbase etc - that means - they SELL same moment they get coins.
Big companies taking BTC are not makign price raise, actually the bigger the company - the worse price will be.
This is why soon price of BTC will drop - more and more big companies are taking it now so soon indeed it will be a currency - but it will be nowhere near your expectations of 1k$ a coin or even curreny 600$.
Dont hate on me, shoot your opinions
No. Increased adoption means (by definition) a higher BTC transaction volume and thus increased demand for BTC. This is true even if all merchants immediately convert their BTC to fiat. There will still be an increase in the price because a greater volume of consumers will have a demand to hold BTC at any one time.
over all there will be more hoarders of bitcoin than spenders so relax about the daily movements of bitcoin price. over the long term the price will rise. just at a more stable rate..
So you are making the same bear paradox argument. BTCs get hoarded, this hinders it from being useful medium of exchange.
In an economy containing only bitcoin deflation _could_ be bad. But hoarding of gold or bitcoin simply leads to selling and spending as the price rises. Saying hoarders do not spend is a fallacy, they do, once price has risen. This is how coin distribution works!
funny that whe ni say something good about BTC i get donations
yet when i give u REAL sell indicator nobody sends me even 1 satoshi
yet when i give u REAL sell indicator nobody sends me even 1 satoshi
i see not everybody accepts my statement. do u really believe big companies will hold BTC instead of selling?
theres even no wya for tchem to not sell sich without that they cant make invoices.
I believe some of them will yes. Particularly the more forward-thinking libertarian types but bitcoin price will indeed continue to drop as more large vendors come online if the majority of those vendors just instantly cash out (which most will I suspect for a time). theres even no wya for tchem to not sell sich without that they cant make invoices.
over all there will be more hoarders of bitcoin than spenders so relax about the daily movements of bitcoin price. over the long term the price will rise. just at a more stable rate..
So you are making the same bear paradox argument. BTCs get hoarded, this hinders it from being useful medium of exchange.
BitCoin is like predicting the end of the world, the same way they predicted 2012 would end but never did. That is why it's called speculation, I don't trust a lot of speculation as I've seen a lot of them flop (but still it's a good read).
i said obvious thing here but seems so many peopel believe Dell or others will hold the coins...
no - they will dump them. for at least few years news on new BIG company adding BTC = news on price drop!
no - they will dump them. for at least few years news on new BIG company adding BTC = news on price drop!
ok so far sides are:
1. big comanies drop BTC to market right away - making price low
2. some people clam, there are people buying BTC just to buy something else
imo 1 is right, 2nd is... false.
give your opinions
1. big comanies drop BTC to market right away - making price low
2. some people clam, there are people buying BTC just to buy something else
imo 1 is right, 2nd is... false.
give your opinions
Actually I think you're right, every company that starts to accept btc will only take it and dump it to turn it into fiat and it will definitely drop it's price but having said the more people start accepting, it will benefit bitcoin in the long run.
When only a few dozen isolated business "accept" Bitcoin through Bitpay/Coinbase, of course they're going to swap for fiat. Because they have no immediate practical use for the coins, they're going to dwell on the "risky/volatile investment" part about Bitcoin (which isn't even an inherent quality) instead of its use as a currency.
Once a critical mass of businesses accept it however, then the advantage Bitcoin provides as a means of exchange is no longer merely theoretical. They'll find some immediate advantage to hanging onto at least a few coins for the sake of interacting with a sufficient number of other parties that accept it as well. Once the frictionless side of Bitcoin manifests into a tangible advantage for individual businesses, that's when you'll see business adoption become a boon for the price.
Once a critical mass of businesses accept it however, then the advantage Bitcoin provides as a means of exchange is no longer merely theoretical. They'll find some immediate advantage to hanging onto at least a few coins for the sake of interacting with a sufficient number of other parties that accept it as well. Once the frictionless side of Bitcoin manifests into a tangible advantage for individual businesses, that's when you'll see business adoption become a boon for the price.
Although bitcoin needs a MUCH higher value if it is going to work as a currency. Currently a handful of people have more money than the entire bitcoin protocol. Imagine if you had more wealth than the amount of cash, it just wouldn't work. For bitcoin to work as a real currency, it's market capitalization would have to be at least 10 trillion dollars, so that many rich parties could have their wealth in it.
The recent price drop was initiated on the Chinese exchange (it is the market maker, others follow its price). Check the charts, they always move the price.
Coinbase/Bitpay sell their coins on Bitstamp.
Think about this for a moment.
Market just got bored, traders in China saw a weakness and dumped a lot of coins. They probably hoped it would go lower.
Coinbase/Bitpay sell their coins on Bitstamp.
Think about this for a moment.
Market just got bored, traders in China saw a weakness and dumped a lot of coins. They probably hoped it would go lower.
Sure i wasnt exactly speakign about current situation just long term. Peopel think when big player adds BTC its "good news" for the price. Inthe long run [few years] maybe yes but for now wit hevery big player theres bigger Chance of price dumping
if i seen a PC on amazon for $600, i would weigh up the pro's and cons of either using bitcoin of fiat. and right now bitcoin is undervalued, im holding out until atleast $1000.. so ill just use my FIAT.
There's a third option that is better than using fiat: take your fiat, buy btc on coinbase (or wherever), buy amazon gift card on gyft.com using bitcoin, pay for PC using the gift card.
The rationale is that you get 3% rebate when you buy a gift card with bitcoin. That goes for amazon, CVS, target, whole foods, best buy, American Airlines, sears, barnes and noble, and lots of other places. Anybody with half a brain will do this rather than just pay with fiat the old fashioned way.
that i didnt know as im in EU. are those amazon cards workign for EU amazons too?
I don't know, being in the US. You should find out and let us know
The recent price drop was initiated on the Chinese exchange (it is the market maker, others follow its price). Check the charts, they always move the price.
Coinbase/Bitpay sell their coins on Bitstamp.
Think about this for a moment.
Market just got bored, traders in China saw a weakness and dumped a lot of coins. They probably hoped it would go lower.
Coinbase/Bitpay sell their coins on Bitstamp.
Think about this for a moment.
Market just got bored, traders in China saw a weakness and dumped a lot of coins. They probably hoped it would go lower.
if i seen a PC on amazon for $600, i would weigh up the pro's and cons of either using bitcoin of fiat. and right now bitcoin is undervalued, im holding out until atleast $1000.. so ill just use my FIAT.
There's a third option that is better than using fiat: take your fiat, buy btc on coinbase (or wherever), buy amazon gift card on gyft.com using bitcoin, pay for PC using the gift card.
The rationale is that you get 3% rebate when you buy a gift card with bitcoin. That goes for amazon, CVS, target, whole foods, best buy, American Airlines, sears, barnes and noble, and lots of other places. Anybody with half a brain will do this rather than just pay with fiat the old fashioned way.
that i didnt know as im in EU. are those amazon cards workign for EU amazons too?
if i seen a PC on amazon for $600, i would weigh up the pro's and cons of either using bitcoin of fiat. and right now bitcoin is undervalued, im holding out until atleast $1000.. so ill just use my FIAT.
There's a third option that is better than using fiat: take your fiat, buy btc on coinbase (or wherever), buy amazon gift card on gyft.com using bitcoin, pay for PC using the gift card.
The rationale is that you get 3% rebate when you buy a gift card with bitcoin. That goes for amazon, CVS, target, whole foods, best buy, American Airlines, sears, barnes and noble, and lots of other places. Anybody with half a brain will do this rather than just pay with fiat the old fashioned way.
If you can't use your bitcoins, chances are people will scare or get bored and leave the bitcoin stuff, therefore killing the bitcoin value.
Even if it may hurt at short time, its something that have to happen. Just hope we can revert the sell pressure by having more holders until the end of 2016
Even if it may hurt at short time, its something that have to happen. Just hope we can revert the sell pressure by having more holders until the end of 2016
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Core dev leaves me neg feedback #abuse #political
For now it is likely that:
1. in the short term more people are using their existing bitcoins to buy stuff at dell or other shops, instead of buying BTC first and then use them to go to dell.
2. Companies sell their BTC for fiat
3. Most customers won't replenish their BTC.
=> Negative effect on price
However this is just one of several components that effects price. Other are net investment, and miners.
When bitcoin adoption goes up people will replenish their BTC and new people will start using it.
1. in the short term more people are using their existing bitcoins to buy stuff at dell or other shops, instead of buying BTC first and then use them to go to dell.
2. Companies sell their BTC for fiat
3. Most customers won't replenish their BTC.
=> Negative effect on price
However this is just one of several components that effects price. Other are net investment, and miners.
When bitcoin adoption goes up people will replenish their BTC and new people will start using it.
I think most customers WILL replenish their BTC. Why wouldn't they?
They are bitcoin users right? You think people are just going
to get Bitcoins once, spend them, and be done with Bitcoin?
That doesn't make any sense.
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