There's somewhere around 196 independent nations on planet Earth operating something like 180 fiat currencies. Each time such an entity has a financial crisis related to its fiat currency, disillusioning its constituent humans, Bitcoins shine brighter. For quite some time, the US Dollar has often replaced a destabilized currency and becomes the de facto standard in that region or nation. Now that there is a new alternative with direct transferability world-wide, lacking interference from any party, including that of failing nation states... people may choose that. Their neighbors will begin to dabble as well. We saw this with Cyprus, and I anticipate we will see it again soon. At any given time, there's problems with a handful of them, and Argentina currently hovers at the top of the list.
And this is just one type of event that will boost Bitcoin.
Topic: What possible event on horizon will rocket bitcoin to the moon again? - page 2. (Read 3764 times)
January 28, 2014, 05:37:03 PM
January 28, 2014, 05:27:40 PM
As much as a lot of people don't want to hear this because of the ideals of many bitcoiners, one of the major banks coming forward and publicly supporting or backing bitcoin (by pumping a lot of money into it), could push the value significantly higher quickly).
I have heard from a few people in the industry that this is close to happening and may happen in the next few months. Wells Fargo is obviously sticking their feelers out there right now. They have usually been the most cautious of the major banks in the past (which is why they did not even really need any of the bank bailout funds). While all the banks were making money hand over fist with the Negative-Amortization Mortgages, Wells Fargo pretty much steered clear.
It would be weird to see them jump in first to bitcoin, but it could happen. Another thing to keep in mind is that Wells Fargo is partially the United States Gov't, so it could be a way for the Gov't to get there hands into bitcoin without the general public even realizing it...
I have heard from a few people in the industry that this is close to happening and may happen in the next few months. Wells Fargo is obviously sticking their feelers out there right now. They have usually been the most cautious of the major banks in the past (which is why they did not even really need any of the bank bailout funds). While all the banks were making money hand over fist with the Negative-Amortization Mortgages, Wells Fargo pretty much steered clear.
It would be weird to see them jump in first to bitcoin, but it could happen. Another thing to keep in mind is that Wells Fargo is partially the United States Gov't, so it could be a way for the Gov't to get there hands into bitcoin without the general public even realizing it...
January 28, 2014, 05:19:25 PM
Drivers this year will probably include:
National financial crisis' - Something like Cyprus is almost guaranteed to happen this year, somewhere, and bitcoin gets speculative attention during those events.
A major merchant adoption - We will see a few more Overstocks and Tigerdirects before a big player jumps on board, possibly out of the blue.
Bank or Credit union cooperation - I think some small bank or credit union will declare themselves "bitcoin friendly" on the tails of all the senate hearings, enabling much needed infrastructure and alleviating some fears and hesitations.
Hedge fund and ETF money - Winklevoss and other similar funds have the the potential to provide an avenue for a major cash influx, some hedge funds have already made indications that they are positioning for this possibility.
Network effect of public awareness - this is the year regular people are going to learn about bitcoin. The more there are, the more there will be. Don't underestimate this.
Industrial mining operations - While I don't believe difficulty drives price directly, I think it does put pressure on future prices. Little guys will be squeezed out of the mining space this year, and all of that money will go to coins instead of equipment.
Protocol and hardware "user friendliness" - This year we will see bitcoin become a lot easier to use, both in protocol updates and service providers. We will also see a flood of "hardware wallets" that will make security and transactions as simple as using a credit card.
Edit: formatting for readability
National financial crisis' - Something like Cyprus is almost guaranteed to happen this year, somewhere, and bitcoin gets speculative attention during those events.
A major merchant adoption - We will see a few more Overstocks and Tigerdirects before a big player jumps on board, possibly out of the blue.
Bank or Credit union cooperation - I think some small bank or credit union will declare themselves "bitcoin friendly" on the tails of all the senate hearings, enabling much needed infrastructure and alleviating some fears and hesitations.
Hedge fund and ETF money - Winklevoss and other similar funds have the the potential to provide an avenue for a major cash influx, some hedge funds have already made indications that they are positioning for this possibility.
Network effect of public awareness - this is the year regular people are going to learn about bitcoin. The more there are, the more there will be. Don't underestimate this.
Industrial mining operations - While I don't believe difficulty drives price directly, I think it does put pressure on future prices. Little guys will be squeezed out of the mining space this year, and all of that money will go to coins instead of equipment.
Protocol and hardware "user friendliness" - This year we will see bitcoin become a lot easier to use, both in protocol updates and service providers. We will also see a flood of "hardware wallets" that will make security and transactions as simple as using a credit card.
Edit: formatting for readability
January 28, 2014, 04:44:17 PM
As the title states...
I was here for the April'2013 ride and the December'2013 ride. The April'2013 rollercoaster was started by the media's frenzied coverage. The December'2013 was caused by the Chinese mania over the bitcoins.
Will there be another singular event that causes massive swings in bitcoin price in the next six months or so?
Does anyone foresee any event(s) in the near term that can induce mass hysteria to rocket bitcoin to the moon again?
Are we in a period of prolonged stability around $800-$900 for the foreseeable future?
What say you?
I was here for the April'2013 ride and the December'2013 ride. The April'2013 rollercoaster was started by the media's frenzied coverage. The December'2013 was caused by the Chinese mania over the bitcoins.
Will there be another singular event that causes massive swings in bitcoin price in the next six months or so?
Does anyone foresee any event(s) in the near term that can induce mass hysteria to rocket bitcoin to the moon again?
Are we in a period of prolonged stability around $800-$900 for the foreseeable future?
What say you?
Prolonged stability will increase use of bitcoin. Use will increase demand. Demand will force the price to go up!!!
Stability is a very good thing!
January 28, 2014, 12:34:07 PM
kill retarded clone coins. this is already happening
make more companies/services accept bitcoins. this is already happening
make more services/ideas specific for bitcoins this is already happening
make bitcoin easier to understand and use even for those with 0 knowledge of computers this is already happening
make it even more well known to the world. Spread the world this is already happening
try to persuade a country or a billionaire to use Bitcoins. For example Cuba has problems with dollars when exporting stuff (not that i am saying that cuba will ever use bitcoin of course). Same goes for Iran and North Korea.
relax and wait...
make more companies/services accept bitcoins. this is already happening
make more services/ideas specific for bitcoins this is already happening
make bitcoin easier to understand and use even for those with 0 knowledge of computers this is already happening
make it even more well known to the world. Spread the world this is already happening
try to persuade a country or a billionaire to use Bitcoins. For example Cuba has problems with dollars when exporting stuff (not that i am saying that cuba will ever use bitcoin of course). Same goes for Iran and North Korea.
relax and wait...
January 28, 2014, 12:06:20 PM
As the title states...
I was here for the April'2013 ride and the December'2013 ride. The April'2013 rollercoaster was started by the media's frenzied coverage. The December'2013 was caused by the Chinese mania over the bitcoins.
Will there be another singular event that causes massive swings in bitcoin price in the next six months or so?
Does anyone foresee any event(s) in the near term that can induce mass hysteria to rocket bitcoin to the moon again?
Are we in a period of prolonged stability around $800-$900 for the foreseeable future?
What say you?
I was here for the April'2013 ride and the December'2013 ride. The April'2013 rollercoaster was started by the media's frenzied coverage. The December'2013 was caused by the Chinese mania over the bitcoins.
Will there be another singular event that causes massive swings in bitcoin price in the next six months or so?
Does anyone foresee any event(s) in the near term that can induce mass hysteria to rocket bitcoin to the moon again?
Are we in a period of prolonged stability around $800-$900 for the foreseeable future?
What say you?
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