Why BTC is having trouble breaking $360

MrBig

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Quote from: inca on October 13, 2014, 02:40:40 PM

Quote from: MrBig on October 13, 2014, 02:37:47 PM

Quote from: spazzdla on September 30, 2014, 08:56:38 AM

Amount of BTCers 10 000 000

Avg capital of BTCer 30k.

Avg capital ready to move into BTC 5k.

10 000 000 * 500 = 5 000 000 000

These numbers are not exact but the principle holds.. Manipulation, charts, trends, etc mean shit.

It all comes down to the amount of people that love Gold(BTC) * Capital they control that will be used to buy gold(BTC)

Proof? +10 000 years of history.

Those numbers are way off. There is definitely not 10 million BTC enthusiasts.

If there are just 5 million new enthusiasts buying up the next bubble then watch out.

If the whole world buys into the next bubble then...

If more people start leaving bitcoin than buying into it...

We have been losing a lot of 'weak hands' investors lately, so you can cross out the if from the last statement.

JimboToronto

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You're never too old to think young.

Quote from: johnson87 on October 13, 2014, 02:41:38 PM

may be within 3 months it will reach 600. Now its right time to buy BTC.

Welcome.

johnson87

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may be within 3 months it will reach 600. Now its right time to buy BTC.

inca

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Quote from: MrBig on October 13, 2014, 02:37:47 PM

Quote from: spazzdla on September 30, 2014, 08:56:38 AM

Amount of BTCers 10 000 000

Avg capital of BTCer 30k.

Avg capital ready to move into BTC 5k.

10 000 000 * 500 = 5 000 000 000

These numbers are not exact but the principle holds.. Manipulation, charts, trends, etc mean shit.

It all comes down to the amount of people that love Gold(BTC) * Capital they control that will be used to buy gold(BTC)

Proof? +10 000 years of history.

Those numbers are way off. There is definitely not 10 million BTC enthusiasts.

If there are just 5 million new enthusiasts buying up the next bubble then watch out.

MrBig

sr. member

Activity: 369

Merit: 250

Quote from: spazzdla on September 30, 2014, 08:56:38 AM

Amount of BTCers 10 000 000

Avg capital of BTCer 30k.

Avg capital ready to move into BTC 5k.

10 000 000 * 500 = 5 000 000 000

These numbers are not exact but the principle holds.. Manipulation, charts, trends, etc mean shit.

It all comes down to the amount of people that love Gold(BTC) * Capital they control that will be used to buy gold(BTC)

Proof? +10 000 years of history.

Those numbers are way off. There is definitely not 10 million BTC enthusiasts.

jaysabi

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Merit: 1115

★777Coin.com★ Fun BTC Casino!

Yes, it's all supply and demand and each of those is comprised of many complicated variables. Speculating on all the variables doesn't seem very fruitful, but I suppose that's not going to stop anyone from doing it.

Jybrael

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Merit: 250

Even if it is over the counter the transactions are still stored in the blockchain and most people usually buy at the market price online. There are those that will undersell though.

fewcoins

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Quote from: My Name Was Taken on October 08, 2014, 10:26:27 AM

Quote from: bajlox on October 08, 2014, 06:22:02 AM

Price is down cuz most of coin are sold off market to private holder.
Think that this is way price is going down.

There's no such thing as "off market" in bitcoin. Everything is on the blockchain.

He mean OTC over the counter sales, not on exchanges & not easily monitored... Some coins are sold person to person in the street (or meet up)

My Name Was Taken

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Quote from: bajlox on October 08, 2014, 06:22:02 AM

Price is down cuz most of coin are sold off market to private holder.
Think that this is way price is going down.

There's no such thing as "off market" in bitcoin. Everything is on the blockchain.

bajlox

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Price is down cuz most of coin are sold off market to private holder.
Think that this is way price is going down.

My Name Was Taken

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Quote from: pitham1 on October 07, 2014, 12:53:49 AM

Quote from: resya on October 06, 2014, 07:10:27 PM

Guys we must admit... how can this bitcoin become the new revolutionary ecurrency if it loses 40% of value in a few days? The BTC protocol is not as robust as some of the up-and-coming coins. Additionally, the BTC consensus has led to monopolized mining. I am not sure what to think at this point

The price of bitcoins and the robustness of the BTC protocol are totally unrelated.

Well, I wouldn't say totally unrelated. Price is simply where supply and demand meet, but would there be much demand if the BTC protocol was bunk? The fact that the protocol is stable and works makes the demand possible.

pitham1

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Quote from: resya on October 06, 2014, 07:10:27 PM

Guys we must admit... how can this bitcoin become the new revolutionary ecurrency if it loses 40% of value in a few days? The BTC protocol is not as robust as some of the up-and-coming coins. Additionally, the BTC consensus has led to monopolized mining. I am not sure what to think at this point

The price of bitcoins and the robustness of the BTC protocol are totally unrelated.

Arv1e

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Quote from: resya on October 06, 2014, 07:10:27 PM

Guys we must admit... how can this bitcoin become the new revolutionary ecurrency if it loses 40% of value in a few days? The BTC protocol is not as robust as some of the up-and-coming coins. Additionally, the BTC consensus has led to monopolized mining. I am not sure what to think at this point

Bitcoin is in its infancy and it isn't a currency although it may be seen as one in the future.

Look at it like Gold during the Gold Rush. Gold was volatile, never a currency yet accepted as payment, and still is.

You will note that, once Gold stabilised, post Gold Rush, USA used it to secure the dollar.

At present its definitely a commodity with currency properties. Once the masses start to use it, and that maybe a while and the price will be a lot higher and volatility will be lower then it will be a currency.

So, in summary, we are buying bitcoin in the hope that the value will rise to that required to be deemed a currency and, in the meantime, its true speculator heaven because of its volatility.

Hope that helps and

P.S. I am in for the long term but if i can sell on a drop and rebuy on the net rise and make 10 -20% i will have a lot of fun trying and be very happy

fewcoins

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Quote from: resya on October 06, 2014, 07:10:27 PM

Guys we must admit... how can this bitcoin become the new revolutionary ecurrency if it loses 40% of value in a few days? The BTC protocol is not as robust as some of the up-and-coming coins. Additionally, the BTC consensus has led to monopolized mining. I am not sure what to think at this point

Think what you want while the price continues to get dumped!

resya

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Guys we must admit... how can this bitcoin become the new revolutionary ecurrency if it loses 40% of value in a few days? The BTC protocol is not as robust as some of the up-and-coming coins. Additionally, the BTC consensus has led to monopolized mining. I am not sure what to think at this point

braum

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let me go take a dump, and then itll go up i think.

My Name Was Taken

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If I was a merchant accepting btc, I'd immediately convert to fiat too. I wouldn't be able to risk the price fluctuations negating my profit margin.

Oscilson

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Quote from: GangkisKhan on October 04, 2014, 02:20:53 AM

All people thought having wider adaptation and merchant acceptance increase the value of bitcoin.

Little do we realize that only create more sell pressure due to merchant not willing to horde bitcoin.

If some merchants hoard or use BTC to pay bill, it will make some difference.

fewcoins

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Quote from: jaysabi on October 04, 2014, 06:15:30 PM

I think you have a lot of hedge funds and venture capitalists who got into bitcoin because it looked like easy profits, and now they are getting out that the price is declining, which is causing it to decline faster. Fundamentally, nothing has changed about bitcoin though. I would think that all this selling would make a good entry point, but I'm sure people were thinking that when it declined to $800, 700, 600, 500 and 400 too.

The bottom line is the mania that caused $1000+ prices may be over, and you shouldn't be buying now because it''s cheaper than it was yesterday. Don't put any money into bitcoin you can't afford to lose. There's no reason to think the price has to go up just because it's lower than it was once upon a time.

Hedge funds and venture capitalist never got into buying BTC, they did what they do best... Buy startup companies in position to make crazy profit margins. Even though value of BTC is falling to a all time low the profit from the exchanges, due to the insane volume, has never been better!!!

Jybrael

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Quote from: jaysabi on October 04, 2014, 06:15:30 PM

I think you have a lot of hedge funds and venture capitalists who got into bitcoin because it looked like easy profits, and now they are getting out that the price is declining, which is causing it to decline faster. Fundamentally, nothing has changed about bitcoin though. I would think that all this selling would make a good entry point, but I'm sure people were thinking that when it declined to $800, 700, 600, 500 and 400 too.

The bottom line is the mania that caused $1000+ prices may be over, and you shouldn't be buying now because it''s cheaper than it was yesterday. Don't put any money into bitcoin you can't afford to lose. There's no reason to think the price has to go up just because it's lower than it was once upon a time.

I will agree with you, put in an amount that you are willing to lose. Bitcoin may rise up once again or not now that depends totally on speculation and how far everyone is willing to take it.

Topic: Why BTC is having trouble breaking $360 (Read 5000 times)