What Will it Take For BTC to Reach $1000? - page 15.

gentlemand

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Quote from: neo9436 on June 18, 2015, 10:46:31 AM

Demand is the big thing.

Back when the silk road was around there was millions of dollars of bitcoin going through there and driving the price up.

Silk road was abolished and a lot of the demand for BTC went with it and the price slowly went down since then.

I'm not saying Silk Road was 100% responsible, but it certainly played a big part.

Just my thoughts.

There's no shortage of other dark markets out there. Many of them have volumes in the tens and hundreds of thousands of BTC. Silk Road was definitely the mainstay of the economy for a long time, though. It's far more diverse now.

neo9436

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Demand is the big thing.

Back when the silk road was around there was millions of dollars of bitcoin going through there and driving the price up.

Silk road was abolished and a lot of the demand for BTC went with it and the price slowly went down since then.

I'm not saying Silk Road was 100% responsible, but it certainly played a big part.

Just my thoughts.

BTCevo

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Quote from: wearepoor on June 16, 2015, 07:03:57 PM

Quote from: edward222 on June 15, 2015, 05:21:01 AM

For me,
just collect bitcoin as many as you can.

That is true but just holding bitcoin will not serve a purpose unless there is adoption from the people at higher level or else bitcoin would be just on paper and would disappear or get replaced by any other new crypto currency So its better that people start accepting it as a currency.

The purpose of holding bitcoin is people have faith that bitcoin price will go higher and the mass adoption from people will help the price going to the moon too and fyi there is no any single crypto can replace bitcoin and it will never be changed

Quote from: techgeek on June 17, 2015, 02:31:29 PM

uh, so what if the bitcoin dropped to zero.
would you still want to collect many as you can then? I wouldnt think so, price is obviously what you need to factor.

Bitcoin price will never dropped to zero because there are people still use it anyway and for many people they will make some fence to hold it so it wont go down to zero price

AtheistAKASaneBrain

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Quote from: arallmuus on June 18, 2015, 03:12:22 AM

Quote from: cellard on June 17, 2015, 07:43:23 PM

Quote from: arallmuus on June 17, 2015, 02:10:16 PM

Quote from: josephliton on June 17, 2015, 12:44:55 PM

Supply & Demand controls the price.

You forgot to add the third factor that controls the price which is manipulation.

Quote from: josephliton on June 17, 2015, 12:44:55 PM

If the big greedy pump and dump miners actually scale back on dumping it the price will rise.

Most people are mining for profit and that would cause them to dump whatever amount they could get as long as the cost for mining < price of BTC . Miners dumping isnt a reason that the price hasnt reach $1000 to be honest and even with the miners keep on dumping , the price has been rallying for $23 now which serves as a proof that miners isnt at fault for dumping their mined BTC

Quote from: mrhelpful on June 17, 2015, 01:04:40 PM

to pump up prices.

You should be aware that every pump will be followed by a dump shortly afterward . Pump will only create a bubble that burn alot of people anyway which happened at the $1200 peak before

But BTC HAS to keep getting the price higher and higher, eventually a new floor will be set, maybe the next bubble is 2000, and it crashes back to 1200 or something along the lines.

Dont get yourself under delusion that the next bubble will be at $2000 and after that the price would be stabilized at $1200. It is 2015 and people are not stupid to fall into another bubble anymore because the peak of 2013 has burned alot of people.
Also that a bubble is not answer if you are seeking for $1000 price and it is called bubble for a reason. If people are seeking for BTC to reach $1000 then there will be no easy way to do it because only mass adoption could be the reason for it to happen and it wont be in such a short time

The peak of 2013 only burned average joes, the old money has never been in BTC yet, and they will being once Gemini is operative.
BTC will need to have an higher floor, because after a couple halvings the price is better 1000+ or else the mining will not be profitable for anyone.

bitcollins85

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it might do sometime in the future but for now it's better to focus on the closer and more realistic goals like $500

gentlemand

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Quote from: arallmuus on June 18, 2015, 03:12:22 AM

Dont get yourself under delusion that the next bubble will be at $2000 and after that the price would be stabilized at $1200. It is 2015 and people are not stupid to fall into another bubble anymore because the peak of 2013 has burned alot of people.

Memories suddenly become an awful lot shorter when there's the belief that there's money to be made. People will talk themselves into anything when greed strikes.

This deflation has been epic and could be far from over yet but the reasons for another buying frenzy are arriving every day. It won't succeed without a few more bubbles on the way. It isn't necessarily helpful overall but if you throw in limited supplies, a small market cap, tiny number of users and future potential it's inevitable.

arallmuus

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Quote from: cellard on June 17, 2015, 07:43:23 PM

Quote from: arallmuus on June 17, 2015, 02:10:16 PM

Quote from: josephliton on June 17, 2015, 12:44:55 PM

Supply & Demand controls the price.

You forgot to add the third factor that controls the price which is manipulation.

Quote from: josephliton on June 17, 2015, 12:44:55 PM

If the big greedy pump and dump miners actually scale back on dumping it the price will rise.

Most people are mining for profit and that would cause them to dump whatever amount they could get as long as the cost for mining < price of BTC . Miners dumping isnt a reason that the price hasnt reach $1000 to be honest and even with the miners keep on dumping , the price has been rallying for $23 now which serves as a proof that miners isnt at fault for dumping their mined BTC

Quote from: mrhelpful on June 17, 2015, 01:04:40 PM

to pump up prices.

You should be aware that every pump will be followed by a dump shortly afterward . Pump will only create a bubble that burn alot of people anyway which happened at the $1200 peak before

But BTC HAS to keep getting the price higher and higher, eventually a new floor will be set, maybe the next bubble is 2000, and it crashes back to 1200 or something along the lines.

Dont get yourself under delusion that the next bubble will be at $2000 and after that the price would be stabilized at $1200. It is 2015 and people are not stupid to fall into another bubble anymore because the peak of 2013 has burned alot of people.
Also that a bubble is not answer if you are seeking for $1000 price and it is called bubble for a reason. If people are seeking for BTC to reach $1000 then there will be no easy way to do it because only mass adoption could be the reason for it to happen and it wont be in such a short time

ammy009

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A huge dump will begin ......

cellard

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Quote from: arallmuus on June 17, 2015, 02:10:16 PM

Quote from: josephliton on June 17, 2015, 12:44:55 PM

Supply & Demand controls the price.

You forgot to add the third factor that controls the price which is manipulation.

Quote from: josephliton on June 17, 2015, 12:44:55 PM

If the big greedy pump and dump miners actually scale back on dumping it the price will rise.

Most people are mining for profit and that would cause them to dump whatever amount they could get as long as the cost for mining < price of BTC . Miners dumping isnt a reason that the price hasnt reach $1000 to be honest and even with the miners keep on dumping , the price has been rallying for $23 now which serves as a proof that miners isnt at fault for dumping their mined BTC

Quote from: mrhelpful on June 17, 2015, 01:04:40 PM

to pump up prices.

You should be aware that every pump will be followed by a dump shortly afterward . Pump will only create a bubble that burn alot of people anyway which happened at the $1200 peak before

But BTC HAS to keep getting the price higher and higher, eventually a new floor will be set, maybe the next bubble is 2000, and it crashes back to 1200 or something along the lines.

techgeek

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Quote from: edward222 on June 15, 2015, 05:21:01 AM

For me,
just collect bitcoin as many as you can.

uh, so what if the bitcoin dropped to zero.

would you still want to collect many as you can then? I wouldnt think so, price is obviously what you need to factor.

Amph

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Quote from: wearepoor on June 16, 2015, 07:03:57 PM

Quote from: edward222 on June 15, 2015, 05:21:01 AM

For me,
just collect bitcoin as many as you can.

That is true but just holding bitcoin will not serve a purpose unless there is adoption from the people at higher level or else bitcoin would be just on paper and would disappear or get replaced by any other new crypto currency So its better that people start accepting it as a currency.

no it won't be replaced by any other crypto, why they should adopt another clone when they don't like bitcoin in the first place? no-sense

the first point you mentioned is true, the poor should hold and the rich should buy, but actually is the opposite, the rich are manipulating the price and the poor are buying in their trap, making them even more richer

so it is just a matter of when this manipulation will bing enough poor people to buy until the price rise to 1k, with a bit of help from the whales

arallmuus

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Quote from: josephliton on June 17, 2015, 12:44:55 PM

Supply & Demand controls the price.

You forgot to add the third factor that controls the price which is manipulation.

Quote from: josephliton on June 17, 2015, 12:44:55 PM

If the big greedy pump and dump miners actually scale back on dumping it the price will rise.

Most people are mining for profit and that would cause them to dump whatever amount they could get as long as the cost for mining < price of BTC . Miners dumping isnt a reason that the price hasnt reach $1000 to be honest and even with the miners keep on dumping , the price has been rallying for $23 now which serves as a proof that miners isnt at fault for dumping their mined BTC

Quote from: mrhelpful on June 17, 2015, 01:04:40 PM

to pump up prices.

You should be aware that every pump will be followed by a dump shortly afterward . Pump will only create a bubble that burn alot of people anyway which happened at the $1200 peak before

mrhelpful

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Quote from: JarvisTechnology on June 15, 2015, 03:54:18 AM

Quote from: David19 on May 07, 2015, 03:49:34 AM

What Will it Take For BTC to Reach $1000?

Let's discuss.

It seems impossible. I believe the trend should be on upwards node. It is right now going downward since last so many months. Even as the bitcoin users are increasing and there are more number of bitcoin transactions, still it is going downward.

It actually might go up since the twins actually got something done, and launched their own exchange called gemini.

So who knows it`ll probably bring more new blood to pump up prices. I dont know about $1k though, maybe a $100 increase to be more realistic.

josephliton

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Quote from: David19 on May 07, 2015, 03:49:34 AM

What Will it Take For BTC to Reach $1000?

Let's discuss.

Supply & Demand controls the price. If the big greedy pump and dump miners actually scale back on dumping it the price will rise.

wearepoor

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Quote from: edward222 on June 15, 2015, 05:21:01 AM

For me,
just collect bitcoin as many as you can.

That is true but just holding bitcoin will not serve a purpose unless there is adoption from the people at higher level or else bitcoin would be just on paper and would disappear or get replaced by any other new crypto currency So its better that people start accepting it as a currency.

aso118

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Quote from: JarvisTechnology on June 16, 2015, 06:59:01 AM

Quote from: JarvisTechnology on June 15, 2015, 03:54:18 AM

It is right now going downward since last so many months. Even as the bitcoin users are increasing and there are more number of bitcoin transactions, still it is going downward.

Increasing number of people using it doesnt matter actually because right now the price is being manipulated by few traders. You can easily check that since previous months ago there have been alot of positive news regarding BTC but none of it made impact to the price . Somewhat, it will requires few years for the price to increase or perhaps next year atleast after halving

If that is the case, then it is dangerous for bitcoin economy, as most of the people are into it because of its decentralized nature. And I assume that few traders must be sitting at the very top to control the prices.

Exactly. This rapid rise on the back of no good news can only indicate that it is the activity of a few traders.
While price increase is good, people might wonder if it is a bubble and choose to wait before entering.

JarvisTechnology

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Quote from: JarvisTechnology on June 15, 2015, 03:54:18 AM

It is right now going downward since last so many months. Even as the bitcoin users are increasing and there are more number of bitcoin transactions, still it is going downward.

Increasing number of people using it doesnt matter actually because right now the price is being manipulated by few traders. You can easily check that since previous months ago there have been alot of positive news regarding BTC but none of it made impact to the price . Somewhat, it will requires few years for the price to increase or perhaps next year atleast after halving
[/quote]

If that is the case, then it is dangerous for bitcoin economy, as most of the people are into it because of its decentralized nature. And I assume that few traders must be sitting at the very top to control the prices.

arallmuus

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Quote from: Amph on June 16, 2015, 02:28:48 AM

Quote from: arallmuus on June 15, 2015, 03:06:05 PM

Quote from: Amph on June 15, 2015, 05:39:06 AM

Quote from: arallmuus on June 15, 2015, 03:39:58 AM

what will happen after a pump is a dump. A pump will always be followed by a dump afterward basically because some people are buying at the peak point which makes them cut their lost by dumping it back. A pump cant force adoption but a stable ~~higher~~ price would

the point of a pump is to actually force adoption(buy forcing many people tu jump the train, to take their profit)

You said it yourself, jump on the train for profit . How do people profitted themselves from a pump then? It is by dumping them back . If we were to talk about mass adoption basically we are talking about people that is still unfamiliar with BTC and to convince or to attract someone further into BTC what you need isnt a pump / dump scheme but rather a solid stable price indeed

man it is exactly what i'm saying, with a natural grow you don't get the dump after it, but with a furious pump, you will probably return to the previous price after it, but it will try to force adoption anyway, in the sense of a momentary adoption

maybe i have not explained it well, but for forcing adoption, this is what I meant in reality

No its not the same, let me rephrase what I meant and what yours are. You keep on stating that a pump ( natural pump, fake pump, bubble , call it whatever you want ) will force an adoption while on the other hand Im staying with a stable price is much more needed for it ( stable price , not high price and theres a lot of difference on it )

Also that a "natural growth" isnt a guarantee that the price gonna be stable or it will not be dump later on. Dont confuse yourself with these words because natural growth =/= stable price

P.S : corrected some part of my previous post
P.S 2 : Stable price in my case will be somewhat similar to a stagnan price

Amph

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Quote from: arallmuus on June 15, 2015, 03:06:05 PM

Quote from: Amph on June 15, 2015, 05:39:06 AM

Quote from: arallmuus on June 15, 2015, 03:39:58 AM

what will happen after a pump is a dump. A pump will always be followed by a dump afterward basically because some people are buying at the peak point which makes them cut their lost by dumping it back. A pump cant force adoption but a stable higher price would

the point of a pump is to actually force adoption(buy forcing many people tu jump the train, to take their profit)

You said it yourself, jump on the train for profit . How do people profitted themselves from a pump then? It is by dumping them back . If we were to talk about mass adoption basically we are talking about people that is still unfamiliar with BTC and to convince or to attract someone further into BTC what you need isnt a pump / dump scheme but rather a solid stable price indeed

man it is exactly what i'm saying, with a natural grow you don't get the dump after it, but with a furious pump, you will probably return to the previous price after it, but it will try to force adoption anyway, in the sense of a momentary adoption

maybe i have not explained it well, but for forcing adoption, this is what I meant in reality

arallmuus

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Quote from: Amph on June 15, 2015, 05:39:06 AM

Quote from: arallmuus on June 15, 2015, 03:39:58 AM

what will happen after a pump is a dump. A pump will always be followed by a dump afterward basically because some people are buying at the peak point which makes them cut their lost by dumping it back. A pump cant force adoption but a stable higher price would

the point of a pump is to actually force adoption(buy forcing many people tu jump the train, to take their profit)

You said it yourself, jump on the train for profit . How do people profitted themselves from a pump then? It is by dumping them back . If we were to talk about mass adoption basically we are talking about people that is still unfamiliar with BTC and to convince or to attract someone further into BTC what you need isnt a pump / dump scheme but rather a solid stable price indeed

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