Weird or brilliant
Topic: Where is the money going to come from to rally bitcoin? (Read 4369 times)
For so many years sitting on bitcoin related forum and constantly criticize bitcoin.
Weird or brilliant
Weird or brilliant
I wish people would stop saying vendors are accepting BTC...because they aren't. They're using Coinbase and immediately converting it to fiat, not holding BTC. There is a difference. They don't want Bitcoin, they want fiat hence the immediate conversion.
I am accepting bticoin for premium quality, fresh roast Colombian coffee. This coffee was grown by small lot famrers in a beautiful mountainous region of southern Colombia using organic methods- the farmers were paid a fair price for the coffee. I can offer it green if you want to home roast it yourself, or professionally hand roasted.
Prices for fresh roast organic coffee
$7 a pound or $30 for five pounds plus shipping. Ships from continental US.
Bitcoin will not be converted to dollars upon receipt- it will go into my wallet and go to buying things like plane tickets, tools, and so forth.
I am a vendor and I accept bitcoin. I am not alone.
What else do you sell from Columbia
jk
I wish people would stop saying vendors are accepting BTC...because they aren't. They're using Coinbase and immediately converting it to fiat, not holding BTC. There is a difference. They don't want Bitcoin, they want fiat hence the immediate conversion.
I am accepting bticoin for premium quality, fresh roast Colombian coffee. This coffee was grown by small lot famrers in a beautiful mountainous region of southern Colombia using organic methods- the farmers were paid a fair price for the coffee. I can offer it green if you want to home roast it yourself, or professionally hand roasted.
Prices for fresh roast organic coffee
$7 a pound or $30 for five pounds plus shipping. Ships from continental US.
Bitcoin will not be converted to dollars upon receipt- it will go into my wallet and go to buying things like plane tickets, tools, and so forth.
I am a vendor and I accept bitcoin. I am not alone.
Fair point. I'll rephrase, basically a large majority of businesses accepting BTC now are immediately converting to fiat. Tigerdirect, Coinbase, etc.
I wish people would stop saying vendors are accepting BTC...because they aren't. They're using Coinbase and immediately converting it to fiat, not holding BTC. There is a difference. They don't want Bitcoin, they want fiat hence the immediate conversion.
I am accepting bticoin for premium quality, fresh roast Colombian coffee. This coffee was grown by small lot famrers in a beautiful mountainous region of southern Colombia using organic methods- the farmers were paid a fair price for the coffee. I can offer it green if you want to home roast it yourself, or professionally hand roasted.
Prices for fresh roast organic coffee
$7 a pound or $30 for five pounds plus shipping. Ships from continental US.
Bitcoin will not be converted to dollars upon receipt- it will go into my wallet and go to buying things like plane tickets, tools, and so forth.
I am a vendor and I accept bitcoin. I am not alone.
I wish people would stop saying vendors are accepting BTC...because they aren't. They're using Coinbase and immediately converting it to fiat, not holding BTC. There is a difference. They don't want Bitcoin, they want fiat hence the immediate conversion.
It's a promising start that would've gotten you laughed out of this forum had it been proposed a couple of years ago.
BTC is up today:
Where is the money coming from?
Where is the money coming from?
I wish people would stop saying vendors are accepting BTC...because they aren't. They're using Coinbase and immediately converting it to fiat, not holding BTC. There is a difference. They don't want Bitcoin, they want fiat hence the immediate conversion.
The forum thread with 5957 pages each page representing 1 btc.
To make the point since there are two aspects of value. Even when the day comes no more posts will be able to be made, the value of the BTCs in the network remains strong.
It was an illustration, read
To make the point since there are two aspects of value. Even when the day comes no more posts will be able to be made, the value of the BTCs in the network remains strong.
It was an illustration, read
What's $5957 BTC?
Re Value debate on last page...
Try it this way - as of this post, the following thread has 5957 pages. If each page is worth 1 BTC, then that thread is worth $5957 BTC.
https://bitcointalksearch.org/topic/wall-observer-btcusd-bitcoin-price-movement-tracking-discussion-178336
Is the thread valuable because it's worth $5957 BTC quantity or is it valuable because of the WEALTH of information it contains that solves problems, entertains, and enlightens, in spite of the violently volatile swings and topics?
Is that thread doomed just because it tends to fill up with dozens of pages talking about crap?
It can be doomed if the owners of the forum delete it, or they shut the forum down and then it's gone for everyone. Even if they locked the thread though, and even without that being done, half a dozen spin off threads have sprung up, same difference. One has 120 something pages (each worth 1 BTC) and there are wild swings in the idiocy and silliness and off topic tangents, but overall, even those threads solve problems and hold great value to people who visit the forum.
Then there are trolls and scammers...they cause problems, but the overall belief value of BTC is protected by the community itself, so one troll isn't capable of destroying the inherent value of the BTC no matter how many pages it might delete.
That is the Way of BTC
The astrology thread...not so much.
Try it this way - as of this post, the following thread has 5957 pages. If each page is worth 1 BTC, then that thread is worth $5957 BTC.
https://bitcointalksearch.org/topic/wall-observer-btcusd-bitcoin-price-movement-tracking-discussion-178336
Is the thread valuable because it's worth $5957 BTC quantity or is it valuable because of the WEALTH of information it contains that solves problems, entertains, and enlightens, in spite of the violently volatile swings and topics?
Is that thread doomed just because it tends to fill up with dozens of pages talking about crap?
It can be doomed if the owners of the forum delete it, or they shut the forum down and then it's gone for everyone. Even if they locked the thread though, and even without that being done, half a dozen spin off threads have sprung up, same difference. One has 120 something pages (each worth 1 BTC) and there are wild swings in the idiocy and silliness and off topic tangents, but overall, even those threads solve problems and hold great value to people who visit the forum.
Then there are trolls and scammers...they cause problems, but the overall belief value of BTC is protected by the community itself, so one troll isn't capable of destroying the inherent value of the BTC no matter how many pages it might delete.
That is the Way of BTC
The astrology thread...not so much.
...yet bitcoin even with it's flaws is far less flawed than the centrally controlled(and inflated) fiat we're all forced at gunpoint to use. This is the engine that drives bitcoin adoption.
I am hearing more and more Wall Street these days. WTF!! You want these scumbags in the first place, then why cry against banks? Are they different establishments?
Wall Street don't play poker. They want Balance Sheets, Income Statements, Statement of Cash Flows. Not a pyramid scheme where you buy coins at a fiat level and ask newcomers to pay more for the same thing all of which is virtual.
Maybe Obama and FEDs need to come out with a bailout plan?
Where have we heard this before?
It is the job of the $1200 coin guys to stop posting moon FUDs and bring awareness to masses. But we all know that is not happening. They will scout for fresh fish to come and play poker with them.
Wall Street don't play poker. They want Balance Sheets, Income Statements, Statement of Cash Flows. Not a pyramid scheme where you buy coins at a fiat level and ask newcomers to pay more for the same thing all of which is virtual.
Maybe Obama and FEDs need to come out with a bailout plan?
Where have we heard this before?It is the job of the $1200 coin guys to stop posting moon FUDs and bring awareness to masses. But we all know that is not happening. They will scout for fresh fish to come and play poker with them.
There was an incredible expansion of retailers and services accepting bitcoins as payments.
This have outstripped the increase of users.
This have caused a lot of users to have a lot of ways to spend their bitcoins and they spent some of them.
The reduction of the price have pushed a lot of miners to sell much more of the coins they mined to pay back power/HW/etc.
This have provided pressures from the sell side to sell and there was not enough demand from the buy side.
But, as the prices go down,
1) miners start to switch off the rigs or power them down to save power and be more efficient.
2) Users start to spend less because their purchasing power decrease so they are incentivized to save
This is taking away pressure from the sell side rebalancing the equilibrium between buy and sell at a lower level.
As people sell their bitcoin to someone else, it is obvious the people buying value their new BTC more than what they value their $.
So they will not sell at a lower prices and will continue to buy the cheaper BTC on the market.
And when the cheap BTC are sold, what will be available will be BTC at an higher price.
If my BTC are unavailable before the price is 1M $, they can not be traded.
If someone else BTC are unavailable before 100K $, they can not be bought.
Buyers buy first what is sold by the lowest seller.
There are about 2 M BTC be used in the market for short term use (as a payment system).
To move the other 8 M BTC the buyers must go higher than now. A lot higher. (a couple of millions are probably lost/forever unavailable).
I agree with this sentiment. There are strong downward pressures on the market which forces some to sell and some to buy-in at a lower price. This and the two points that you've made inherently balances the point of equilibrium. I still think that there is a strong amount of support that is on the horizon and bitcoins change from a speculative tool to a tool with further and further enhanced utility. Once the monetary balances shift in the favor of utility rather than speculation we will see an upward trend in the price of bitcoin. This shift in paradigm will be what rallies bitcoin to the future. This have outstripped the increase of users.
This have caused a lot of users to have a lot of ways to spend their bitcoins and they spent some of them.
The reduction of the price have pushed a lot of miners to sell much more of the coins they mined to pay back power/HW/etc.
This have provided pressures from the sell side to sell and there was not enough demand from the buy side.
But, as the prices go down,
1) miners start to switch off the rigs or power them down to save power and be more efficient.
2) Users start to spend less because their purchasing power decrease so they are incentivized to save
This is taking away pressure from the sell side rebalancing the equilibrium between buy and sell at a lower level.
As people sell their bitcoin to someone else, it is obvious the people buying value their new BTC more than what they value their $.
So they will not sell at a lower prices and will continue to buy the cheaper BTC on the market.
And when the cheap BTC are sold, what will be available will be BTC at an higher price.
If my BTC are unavailable before the price is 1M $, they can not be traded.
If someone else BTC are unavailable before 100K $, they can not be bought.
Buyers buy first what is sold by the lowest seller.
There are about 2 M BTC be used in the market for short term use (as a payment system).
To move the other 8 M BTC the buyers must go higher than now. A lot higher. (a couple of millions are probably lost/forever unavailable).
There was an incredible expansion of retailers and services accepting bitcoins as payments.
This have outstripped the increase of users.
This have caused a lot of users to have a lot of ways to spend their bitcoins and they spent some of them.
The reduction of the price have pushed a lot of miners to sell much more of the coins they mined to pay back power/HW/etc.
This have provided pressures from the sell side to sell and there was not enough demand from the buy side.
But, as the prices go down,
1) miners start to switch off the rigs or power them down to save power and be more efficient.
2) Users start to spend less because their purchasing power decrease so they are incentivized to save
This is taking away pressure from the sell side rebalancing the equilibrium between buy and sell at a lower level.
As people sell their bitcoin to someone else, it is obvious the people buying value their new BTC more than what they value their $.
So they will not sell at a lower prices and will continue to buy the cheaper BTC on the market.
And when the cheap BTC are sold, what will be available will be BTC at an higher price.
If my BTC are unavailable before the price is 1M $, they can not be traded.
If someone else BTC are unavailable before 100K $, they can not be bought.
Buyers buy first what is sold by the lowest seller.
There are about 2 M BTC be used in the market for short term use (as a payment system).
To move the other 8 M BTC the buyers must go higher than now. A lot higher. (a couple of millions are probably lost/forever unavailable).
This have outstripped the increase of users.
This have caused a lot of users to have a lot of ways to spend their bitcoins and they spent some of them.
The reduction of the price have pushed a lot of miners to sell much more of the coins they mined to pay back power/HW/etc.
This have provided pressures from the sell side to sell and there was not enough demand from the buy side.
But, as the prices go down,
1) miners start to switch off the rigs or power them down to save power and be more efficient.
2) Users start to spend less because their purchasing power decrease so they are incentivized to save
This is taking away pressure from the sell side rebalancing the equilibrium between buy and sell at a lower level.
As people sell their bitcoin to someone else, it is obvious the people buying value their new BTC more than what they value their $.
So they will not sell at a lower prices and will continue to buy the cheaper BTC on the market.
And when the cheap BTC are sold, what will be available will be BTC at an higher price.
If my BTC are unavailable before the price is 1M $, they can not be traded.
If someone else BTC are unavailable before 100K $, they can not be bought.
Buyers buy first what is sold by the lowest seller.
There are about 2 M BTC be used in the market for short term use (as a payment system).
To move the other 8 M BTC the buyers must go higher than now. A lot higher. (a couple of millions are probably lost/forever unavailable).
The money will come pouring in as soon as the BTC media coverage turns positive.
This cycle has already repeated several times, just pay attention.
This cycle has already repeated several times, just pay attention.
This.
After a few months of stability and slightly rising prices - the first sign of a rally will cause the return of funds from those who cashed out the last rally, plus the inflow of funds from those who held off last time because they were too late. By the time we reach a new all time high the media will be more than ready to headline the rally - at which point 10x new investors enter the market.
This phenomenon happened back in January-April 2013 and again in September-November 2013. I believe that the circumstances will be similar enough this summer to produce the same dramatic result.
This time everything seems to be "taking too long", but in reality we are still adjusting to the amazing excitement of last year.
Bitcoins are a store of value - hold them.
The money will come pouring in as soon as the BTC media coverage turns positive.
This cycle has already repeated several times, just pay attention.
This cycle has already repeated several times, just pay attention.
This.
After a few months of stability and slightly rising prices - the first sign of a rally will cause the return of funds from those who cashed out the last rally, plus the inflow of funds from those who held off last time because they were too late. By the time we reach a new all time high the mass media will be more than ready to headline the rally - at which point 10x new investors enter the market.
This phenomenon happened back in January-April 2013 and again in September-November 2013. I believe that the circumstances will be similar enough this summer to produce the same dramatic result. See Summer 2014 Bitcoin Bubble - First Projection.
The money will come pouring in as soon as the BTC media coverage turns positive.
This cycle has already repeated several times, just pay attention.
This cycle has already repeated several times, just pay attention.
With a little more time for regulations and government policies to solidify in term of bitcoin, we can definitely envision main financial players and wall st. types jumping in.
That's where the money will come from.
That's where the money will come from.
There is no need for Wall Street to come in. Please, no Wall street. Keep those assholes out of this. Bitcoin != bitcoin price.
Price is irrelevant.
With a little more time for regulations and government policies to solidify in term of bitcoin, we can definitely envision main financial players and wall st. types jumping in.
That's where the money will come from.
That's where the money will come from.
Jump to: