It's not about bad news, it's just that bitcoin is overpriced at the moment. Take into account all the new altcoins, it's only logical that bitcoin would lose ground to other coins. We have been in decline since december, that's four months now. Bitcoin will continue to be the most expensive coin yes, but will we ever see 1000 dollars again?
No, highly unlikely.
Topic: why does the price keep falling? - page 2. (Read 4560 times)
Price keeps falling because at these prices there's more supply than demand.
This is a tautology really, but it's true. For whatever reason, there's more money overall wanting out of Bitcoin than wanting in at this price level.
This is a tautology really, but it's true. For whatever reason, there's more money overall wanting out of Bitcoin than wanting in at this price level.
Seems bad news always brings price down
The current bear market is primarily a correction to November 2013's insane hype bubble. If you analyse the current wave of FUD you'll notice that most of the complaints about Bitcoin are akin to "I thought Bitcoin automatically gave me immortality and the abilitiy to travel through time".
3600 bitcoins created out of thin air everyday. At $575 This is $2million.
What is difficult to comprehend here?
Miners currently enjoy obscene profit margins, while providing no value.
70k transactions per day occuring. $30 per transaction going to the miners.
From this we can estimate maybe 5000-24000 daily active users. Each user is essentially being charged $400 to $180 per useage of the network. This is being absorbed by all users.
There is not enough demand in the system to absorb the coins being conjured up out of nothing. Miner's are rent seeking, and worst of all this rent seeking is more and more concentrated as elite miners dominate the network.
What is difficult to comprehend here?
Miners currently enjoy obscene profit margins, while providing no value.
70k transactions per day occuring. $30 per transaction going to the miners.
From this we can estimate maybe 5000-24000 daily active users. Each user is essentially being charged $400 to $180 per useage of the network. This is being absorbed by all users.
There is not enough demand in the system to absorb the coins being conjured up out of nothing. Miner's are rent seeking, and worst of all this rent seeking is more and more concentrated as elite miners dominate the network.
Hello Lord Trollmore.
How many threads are you going to bang this drum on?
Let us know when someone starts listening. Or, preferably, not.
You don't like fact? Miners will keep selling as they are enjoying record margins. Sorry you are angry and don't understand bad economic incentives.
Er, uh?
I think what you're saying is that supply and demand affect prices. Most of us on this forum know this already and have seen it happen quite a lot before.
Whilst this is a fact, it's curious that you feel the need to create an account to tell us about it.
The market response to news is generally something that happens very quickly, within seconds on active/liquid markets and probably within an hour with bitcoin markets. A slow trend in price over many hours/days/weeks cannot be attributed to a single news item (such as the false China bitcoin ban).
"I've been watching the live trades on Bitstamp for about ten minutes, about ten minutes ago. There are some interesting patterns.
Someone is managing to shift an awful lot of coins at $573. Every time the stock of coins available at 573 got low, another 30 would be added, and occasionally 50. This is repeatedly happening, soaking up all of the demand, selling a large position without being too obvious about it."
MK trying to launder his ill-gotten coins...
Someone is managing to shift an awful lot of coins at $573. Every time the stock of coins available at 573 got low, another 30 would be added, and occasionally 50. This is repeatedly happening, soaking up all of the demand, selling a large position without being too obvious about it."
MK trying to launder his ill-gotten coins...
I've been watching the live trades on Bitstamp for about ten minutes, about ten minutes ago. There are some interesting patterns.
Someone is managing to shift an awful lot of coins at $573. Every time the stock of coins available at 573 got low, another 30 would be added, and occasionally 50. This is repeatedly happening, soaking up all of the demand, selling a large position without being too obvious about it.
Found a great article on the wall street journal..
Apparently the link was suspicious? its the Wall street journal!!!
Apparently the link was suspicious? its the Wall street journal!!!
3600 bitcoins created out of thin air everyday. At $575 This is $2million.
What is difficult to comprehend here?
Miners currently enjoy obscene profit margins, while providing no value.
70k transactions per day occuring. $30 per transaction going to the miners.
From this we can estimate maybe 5000-24000 daily active users. Each user is essentially being charged $400 to $180 per useage of the network. This is being absorbed by all users.
There is not enough demand in the system to absorb the coins being conjured up out of nothing. Miner's are rent seeking, and worst of all this rent seeking is more and more concentrated as elite miners dominate the network.
What is difficult to comprehend here?
Miners currently enjoy obscene profit margins, while providing no value.
70k transactions per day occuring. $30 per transaction going to the miners.
From this we can estimate maybe 5000-24000 daily active users. Each user is essentially being charged $400 to $180 per useage of the network. This is being absorbed by all users.
There is not enough demand in the system to absorb the coins being conjured up out of nothing. Miner's are rent seeking, and worst of all this rent seeking is more and more concentrated as elite miners dominate the network.
Hello Lord Trollmore.
How many threads are you going to bang this drum on?
Let us know when someone starts listening. Or, preferably, not.
You don't like fact? Miners will keep selling as they are enjoying record margins. Sorry you are angry and don't understand bad economic incentives.
200 day trendline support HOLD.
price fall because of fake china ban btc news
http://www.businessweek.com/articles/2014-03-20/btc-chinas-bobby-lee-bitcoin-isnt-really-banned-in-china-and-its-quickly-gaining-ground
READ!!!
http://www.reddit.com/r/Bitcoin/comments/20znt2/the_news_about_china_banning_bitcoin_is_false/
wake up guys!!
http://www.businessweek.com/articles/2014-03-20/btc-chinas-bobby-lee-bitcoin-isnt-really-banned-in-china-and-its-quickly-gaining-ground
READ!!!
http://www.reddit.com/r/Bitcoin/comments/20znt2/the_news_about_china_banning_bitcoin_is_false/
wake up guys!!
Now that's a good example of a contrarian indicator post. As long as guys like you keep posting "we only going down because MANIPULATION", there's still plenty of room to the downside left. Btw, same holds true for bearish conspiracies in an uptrend ("The China rally isn't sustainable!!!", @~700)
3600 bitcoins created out of thin air everyday. At $575 This is $2million.
What is difficult to comprehend here?
Miners currently enjoy obscene profit margins, while providing no value.
70k transactions per day occuring. $30 per transaction going to the miners.
From this we can estimate maybe 5000-24000 daily active users. Each user is essentially being charged $400 to $180 per useage of the network. This is being absorbed by all users.
There is not enough demand in the system to absorb the coins being conjured up out of nothing. Miner's are rent seeking, and worst of all this rent seeking is more and more concentrated as elite miners dominate the network.
What is difficult to comprehend here?
Miners currently enjoy obscene profit margins, while providing no value.
70k transactions per day occuring. $30 per transaction going to the miners.
From this we can estimate maybe 5000-24000 daily active users. Each user is essentially being charged $400 to $180 per useage of the network. This is being absorbed by all users.
There is not enough demand in the system to absorb the coins being conjured up out of nothing. Miner's are rent seeking, and worst of all this rent seeking is more and more concentrated as elite miners dominate the network.
Hello Lord Trollmore.
How many threads are you going to bang this drum on?
Let us know when someone starts listening. Or, preferably, not.
3600 bitcoins created out of thin air everyday. At $575 This is $2million.
What is difficult to comprehend here?
Miners currently enjoy obscene profit margins, while providing no value.
70k transactions per day occuring. $30 per transaction going to the miners.
From this we can estimate maybe 5000-24000 daily active users. Each user is essentially generating a charge between $80 to $400 per useage of the network. This is being absorbed by all holders.
There is not enough demand in the system to absorb the coins being conjured up out of nothing. Miner's are rent seeking, and worst of all this rent seeking is more and more concentrated as elite miners dominate the network.
What is difficult to comprehend here?
Miners currently enjoy obscene profit margins, while providing no value.
70k transactions per day occuring. $30 per transaction going to the miners.
From this we can estimate maybe 5000-24000 daily active users. Each user is essentially generating a charge between $80 to $400 per useage of the network. This is being absorbed by all holders.
There is not enough demand in the system to absorb the coins being conjured up out of nothing. Miner's are rent seeking, and worst of all this rent seeking is more and more concentrated as elite miners dominate the network.
Im sure the price is going to go back up relatively soon. Its dropped about $60 in the last four days. Investors are dumping. When the price goes down some more maybe 500$ range there will be a huge fire sale and investors will gobble in up fairly quickly bringing the price back to the sub 600-700 range. Its just how this game works.
The people who have the most influence make the most money, they can swing the price if needed.
The people who have the most influence make the most money, they can swing the price if needed.
price fall because of fake china ban btc news
http://www.businessweek.com/articles/2014-03-20/btc-chinas-bobby-lee-bitcoin-isnt-really-banned-in-china-and-its-quickly-gaining-ground
READ!!!
http://www.reddit.com/r/Bitcoin/comments/20znt2/the_news_about_china_banning_bitcoin_is_false/
wake up guys!!
http://www.businessweek.com/articles/2014-03-20/btc-chinas-bobby-lee-bitcoin-isnt-really-banned-in-china-and-its-quickly-gaining-ground
READ!!!
http://www.reddit.com/r/Bitcoin/comments/20znt2/the_news_about_china_banning_bitcoin_is_false/
wake up guys!!
I don't think this is to blame.
Price needed to head south anyway. If anything, that gave it an excuse, but I doubt even that much.
price fall because of fake china ban btc news
http://www.businessweek.com/articles/2014-03-20/btc-chinas-bobby-lee-bitcoin-isnt-really-banned-in-china-and-its-quickly-gaining-ground
READ!!!
http://www.reddit.com/r/Bitcoin/comments/20znt2/the_news_about_china_banning_bitcoin_is_false/
wake up guys!!
http://www.businessweek.com/articles/2014-03-20/btc-chinas-bobby-lee-bitcoin-isnt-really-banned-in-china-and-its-quickly-gaining-ground
READ!!!
http://www.reddit.com/r/Bitcoin/comments/20znt2/the_news_about_china_banning_bitcoin_is_false/
wake up guys!!
Lets not forget that the Gox story isn't over yet.
850.000 btc is a big number and Gox's non stop lying - they discovered 200.000 btc they misput
- doesn't help to build a positive sentiment.
850.000 btc is a big number and Gox's non stop lying - they discovered 200.000 btc they misput
- doesn't help to build a positive sentiment. news does not generally move the price the way you think it does.
probably right... so what are the drivers ? both up and down drivers?
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