Why is bitcoin price not going up? - page 4.

porcupine87

hero member

Activity: 546

Merit: 500

hm

Quote from: ?? on ??

Quote from: Kake on June 27, 2013, 04:57:42 AM

Quote from: ?? on ??

Quote from: IggySe7ven on June 26, 2013, 01:03:21 PM

Why is bitcoin price stuck around the same number and not increasing, how likely is it for bitcoin to steadily start going up again?

Bitcoin is scheduled to trade in a narrow range of 102 to 108 dollars until September. From September until January it will gradually increase reaching a high of about 118. That is why I am holding strong to my bitcoins till then. The 2014 schedule has not been decided yet.

lol, what's your source?

It was in one of those articles about stuff the NSA does. If you can understand it it is in the MtGox source code.

That was a funny one

BobMarley

full member

Activity: 210

Merit: 100

https://bitcointalksearch.org/topic/m.2656686

joae1975

hero member

Activity: 752

Merit: 500

Quote from: Wekkel on July 04, 2013, 03:30:41 PM

Quote from: joae1975 on July 04, 2013, 03:21:26 PM

thats exactly whats happening to Gold right now. Nice!

Unless Gold supply is unlimited (paper Gold supply, that is). That's the big question.

All gold etf's have to have the physical to back them up. The caveat being owners of a gold etf can never convert it directly to physical. The physical price can go lower and at the same time the etf could dry up, loosing almost all value. paper gold is dying a fast death. IMHO. Never never never buy a bitcoin etf. For the record.

Peter Schiff on the winkle twins:
http://db.tt/2qZpfEG6

Wekkel

legendary

Activity: 3108

Merit: 1531

yes

Quote from: joae1975 on July 04, 2013, 03:21:26 PM

thats exactly whats happening to Gold right now. Nice!

Unless Gold supply is unlimited (paper Gold supply, that is). That's the big question.

BitcoinBarrel

legendary

Activity: 2026

Merit: 1034

Fill Your Barrel with Bitcoins!

They wouldn't be able to buy up all the coins. And if they did then the price of 1 satoshi would SKYROCKET. Can you imagine 1000 dollars per satoshi?

joae1975

hero member

Activity: 752

Merit: 500

Quote from: vokain on July 04, 2013, 02:12:52 PM

Quote from: NewLiberty on July 04, 2013, 06:15:30 AM

Quote from: mdude77 on July 04, 2013, 05:24:13 AM

If I was in a government and I wanted to destroy bitcoin...

I'd figure out how to buy up all the coins with fiat and then destroy them.

M

It would be cheaper, and maybe even profitable (especially for those in the know), to create so much volatility using ETFs that it becomes difficult to use as a currency.

Doubtful. When they short sell, the price for the ETF goes down. The max that can be sold is the amount that is in the trust, 200000 BTC. If the ETF were to dump those shares on the actual market, 200000 would be sold to cover the sale, but really, that's it. They can only do it once. How many BTC are outstanding? The market would get artificially cheap coins! Done, bear out of ammo.

thats exactly whats happening to Gold right now. Nice!

vokain

legendary

Activity: 1834

Merit: 1019

Quote from: NewLiberty on July 04, 2013, 06:15:30 AM

Quote from: mdude77 on July 04, 2013, 05:24:13 AM

If I was in a government and I wanted to destroy bitcoin...

I'd figure out how to buy up all the coins with fiat and then destroy them.

M

It would be cheaper, and maybe even profitable (especially for those in the know), to create so much volatility using ETFs that it becomes difficult to use as a currency.

Doubtful. When they short sell, the price for the ETF goes down. The max that can be sold is the amount that is in the trust, 200000 BTC. If the ETF were to dump those shares on the actual market, 200000 would be sold to cover the sale, but really, that's it. They can only do it once. How many BTC are outstanding? The market would get artificially cheap coins! Done, bear out of ammo.

Moogle

full member

Activity: 238

Merit: 100

KUPO!

exaclt.y if one bloke buys everything and refuses to sell then its game over. yeah people will make some money but the 'currency' wont exist anymore

mdude77

legendary

Activity: 1540

Merit: 1001

Quote from: Lohoris on July 04, 2013, 12:21:23 PM

Quote from: mdude77 on July 04, 2013, 11:19:35 AM

And BTC as a currency would be destroyed.

Mission accomplished.

What are you talking about?

Of course it wouldn't, people would be mining like crazy to get that reward...

Selling BTC and having BTC as a currency are two different things.

M

Lohoris

hero member

Activity: 630

Merit: 500

Bitgoblin

Quote from: mdude77 on July 04, 2013, 11:19:35 AM

And BTC as a currency would be destroyed.

Mission accomplished.

What are you talking about?

Of course it wouldn't, people would be mining like crazy to get that reward...

mdude77

legendary

Activity: 1540

Merit: 1001

Quote from: Lohoris on July 04, 2013, 08:39:04 AM

Quote from: mdude77 on July 04, 2013, 07:10:34 AM

You seriously believe that? If the government always bought, and destroyed, every coin that every became available, it wouldn't hurt bitcoin?

If someone constantly bought coins "at whatever price", miners would be rich...

And BTC as a currency would be destroyed.

Mission accomplished.

M

Lohoris

hero member

Activity: 630

Merit: 500

Bitgoblin

Quote from: mdude77 on July 04, 2013, 07:10:34 AM

You seriously believe that? If the government always bought, and destroyed, every coin that every became available, it wouldn't hurt bitcoin?

If someone constantly bought coins "at whatever price", miners would be rich...

mdude77

legendary

Activity: 1540

Merit: 1001

Quote from: johnyj on July 04, 2013, 07:07:02 AM

Quote from: mdude77 on July 04, 2013, 06:37:16 AM

Governments can and do make money out of thin air. They can buy every single one and destroy them, it won't even appear as a blip on the deficit. Yes, some people will make a lot of money off of it. But bitcoin as we know it will be destroyed.

Actually this is expected, they need another big bubble to save them from the current mess

And bitcoin will not be destroyed, since most of the bitcoin owners will sell only a fraction of their coins, even the price goes to infinite, it doesn't hurt to have more coins at hand

You seriously believe that? If the government always bought, and destroyed, every coin that every became available, it wouldn't hurt bitcoin?

M

johnyj

legendary

Activity: 1988

Merit: 1012

Beyond Imagination

Quote from: mdude77 on July 04, 2013, 06:37:16 AM

Governments can and do make money out of thin air. They can buy every single one and destroy them, it won't even appear as a blip on the deficit. Yes, some people will make a lot of money off of it. But bitcoin as we know it will be destroyed.

Actually this is expected, they need another big bubble to save them from the current mess

And bitcoin will not be destroyed, since most of the bitcoin owners will sell only a fraction of their coins, even the price goes to infinite, it doesn't hurt to have more coins at hand

ninjapug

newbie

Activity: 40

Merit: 0

Isn't it going up now?

mdude77

legendary

Activity: 1540

Merit: 1001

Quote from: NewLiberty on July 04, 2013, 06:15:30 AM

Quote from: mdude77 on July 04, 2013, 05:24:13 AM

If I was in a government and I wanted to destroy bitcoin...

I'd figure out how to buy up all the coins with fiat and then destroy them.

M

It would be cheaper, and maybe even profitable (especially for those in the know), to create so much volatility using ETFs that it becomes difficult to use as a currency.

Governments don't care about cheap ($500 hammer anyone?). All they care about is power and control. Buy every single coin for sale from every exchange. It would be the beginning of the end.

M

mdude77

legendary

Activity: 1540

Merit: 1001

Quote from: ask on July 04, 2013, 05:53:01 AM

Quote from: mdude77 on July 04, 2013, 05:24:13 AM

If I was in a government and I wanted to destroy bitcoin...

I'd figure out how to buy up all the coins with fiat and then destroy them.

M

If you buy then and destroy those X which you bought, then only 21M-X will remain on the market and price will be bigger. You can not destroy them...

THAT'S THE BEAUTY OF BITCOIN

You don't understand. There's a finite number of bitcoins. Governments can and do make money out of thin air. They can buy every single one and destroy them, it won't even appear as a blip on the deficit. Yes, some people will make a lot of money off of it. But bitcoin as we know it will be destroyed.

M

NewLiberty

legendary

Activity: 1204

Merit: 1002

Gresham's Lawyer

Quote from: mdude77 on July 04, 2013, 05:24:13 AM

If I was in a government and I wanted to destroy bitcoin...

I'd figure out how to buy up all the coins with fiat and then destroy them.

M

It would be cheaper, and maybe even profitable (especially for those in the know), to create so much volatility using ETFs that it becomes difficult to use as a currency.

ask

legendary

Activity: 1386

Merit: 1004

Quote from: mdude77 on July 04, 2013, 05:24:13 AM

If I was in a government and I wanted to destroy bitcoin...

I'd figure out how to buy up all the coins with fiat and then destroy them.

M

If you buy then and destroy those X which you bought, then only 21M-X will remain on the market and price will be bigger. You can not destroy them...

THAT'S THE BEAUTY OF BITCOIN

mdude77

legendary

Activity: 1540

Merit: 1001

If I was in a government and I wanted to destroy bitcoin...

I'd figure out how to buy up all the coins with fiat and then destroy them.

M

Topic: Why is bitcoin price not going up? - page 4. (Read 10852 times)