WHY THE BITCOIN PRICE DROP IS REALLY GOOD NEWS

NotLambchop

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Quote from: mmortal03 on October 04, 2014, 06:19:35 PM

... If these people with tons of money just invested a fraction of their wealth into it on an exchange, the price would go up. We're talking about only a 4.5 billion dollar market cap, and we're talking about billionaires here.

This reminds me of "if everyone on Earth sent me just one penny [which they wouldn't miss at all], I'd be a multimillionaire."

arieq

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Quote from: llanillo on October 04, 2014, 10:42:08 AM

Its not good for people who bought bitcoin at 600$

I sold in 800, 700, 600...480 and now I feel like an idiot for not selling it all in 600 and walking away

spiderbrain

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All very reasonable.

exocytosis

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It's great news that we're finally going to zero! Just imagine all those weak hands that'll be shaken out!!!

mmortal03

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Quote from: BrewCrewFan on October 04, 2014, 06:06:31 PM

Quote from: mmortal03 on October 04, 2014, 05:42:15 PM

Quote from: rodancap99 on October 04, 2014, 12:56:02 PM

Nonsense. Unless the price goes up significantly, bitcoin will not be useful for truly large transactions. Right now if somebody wants to buy a couple million dollars worth of bitcoin, it's really difficult, and the transaction would make the price spike (or tumble). A large market cap means more liquidity and more possibilities for the network.? If you just want to be able to settle your cable bill, a low price is fine, I guess.

Posted From bitcointalk.org Android App

I know I'm putting words in his mouth, but if Bill Gates thinks Bitcoin is cheap, he should open up that pocketbook of his and invest some on an exchange. It'd be lovely to see that price spike that you're talking about, with a true whale like him entering the market.

http://www.telegraph.co.uk/technology/11138905/Bill-Gates-Bitcoin-is-exciting-because-it-is-cheap.html

Much of the problem is the legality standpoint of BTC right now. Your talking about people who are on the sidelines that have tons of money ready, but the legal standpoint is not clear. You get mixed messages from one side saying its not currency/ and the other side of the mouth is saying it is....

I hear you, and I think it is a lack of knowledge on the part of these individuals on the sidelines. Those of us in the community know that for personal investment, the tax situation has been settled, and that we are to treat it like property on our tax returns. If these people with tons of money just invested a fraction of their wealth into it on an exchange, the price would go up. We're talking about only a 4.5 billion dollar market cap, and we're talking about billionaires here.

BrewCrewFan

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Quote from: mmortal03 on October 04, 2014, 05:42:15 PM

Quote from: rodancap99 on October 04, 2014, 12:56:02 PM

Nonsense. Unless the price goes up significantly, bitcoin will not be useful for truly large transactions. Right now if somebody wants to buy a couple million dollars worth of bitcoin, it's really difficult, and the transaction would make the price spike (or tumble). A large market cap means more liquidity and more possibilities for the network.? If you just want to be able to settle your cable bill, a low price is fine, I guess.

Posted From bitcointalk.org Android App

I know I'm putting words in his mouth, but if Bill Gates thinks Bitcoin is cheap, he should open up that pocketbook of his and invest some on an exchange. It'd be lovely to see that price spike that you're talking about, with a true whale like him entering the market.

http://www.telegraph.co.uk/technology/11138905/Bill-Gates-Bitcoin-is-exciting-because-it-is-cheap.html

Much of the problem is the legality standpoint of BTC right now. Your talking about people who are on the sidelines that have tons of money ready, but the legal standpoint is not clear. You get mixed messages from one side saying its not currency/ and the other side of the mouth is saying it is....

mmortal03

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Quote from: rodancap99 on October 04, 2014, 12:56:02 PM

Nonsense. Unless the price goes up significantly, bitcoin will not be useful for truly large transactions. Right now if somebody wants to buy a couple million dollars worth of bitcoin, it's really difficult, and the transaction would make the price spike (or tumble). A large market cap means more liquidity and more possibilities for the network.? If you just want to be able to settle your cable bill, a low price is fine, I guess.

Posted From bitcointalk.org Android App

I know I'm putting words in his mouth, but if Bill Gates thinks Bitcoin is cheap, he should open up that pocketbook of his and invest some on an exchange. It'd be lovely to see that price spike that you're talking about, with a true whale like him entering the market.

http://www.telegraph.co.uk/technology/11138905/Bill-Gates-Bitcoin-is-exciting-because-it-is-cheap.html

kashish948

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This article would be of any value if it was written during the china bubble! Everyone is smart in hindsight!

TheJuice

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piramida

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Borsche

Quote from: rodancap99 on October 04, 2014, 12:56:02 PM

A large market cap means more liquidity and more possibilities for the network.?

In a way it helps, but liquidity is also helped with more coins being available for trade. Right now, situation with trusting exchanges with money or coins is piss poor, most people stay away. So there's not enough liquidity on exchanges, allowing 10k coins to move the price as it does.

What will happen next year, are multi-sig enabled exchanges where you can trade while being in control of your coins. That would solve the liquidity problem once and for all. The higher price would help with liquidity in USD-terms, of course.

okae

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northern exposure

everything have a good side and a bad side, for ppl who like to trade the growing down about BTC price is a good news for sure

Quote from: efreeti on October 04, 2014, 08:23:55 AM

Price going up or down is neither good news or bad news for wider adaptation and usage.

Stability is utmost important if we are to use btc to conduct everyday business.

exactly, and untill now BTC never betray us Wink

rodancap99

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Nonsense. Unless the price goes up significantly, bitcoin will not be useful for truly large transactions. Right now if somebody wants to buy a couple million dollars worth of bitcoin, it's really difficult, and the transaction would make the price spike (or tumble). A large market cap means more liquidity and more possibilities for the network.? If you just want to be able to settle your cable bill, a low price is fine, I guess.

Posted From bitcointalk.org Android App

darrenwgray

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AS a relatively small holding newcomer to BitCoin I am still in two minds. Like the British housing market there are massive booms and busts. I bought a house in 2005 at one of the peaks of the boom and sold it in 2011 making the market value of 7 years earlier (but I had a 105% mortgage which made things complicated) I was lucky.

Now I see the BTC market at around the time of 2010 when things were really bad in the middle of the peaks; I think it will pick up again but might be slow to do so.

Velkro

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Quote from: LFC_Bitcoin on October 04, 2014, 07:05:39 AM

I'm massively down at the moment on the £3000 + GBP that I've invested in BTC.

There is nothing good about the current price at all, total bull ****.

Be strong, keep calm, stay frosty... don't sell. My advice.

martinnew

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Quote from: Remember remember the 5th of November on October 04, 2014, 07:40:53 AM

I guess it doesn't help that I had a dream where the price had...crashed to as low as <$0.10, was not a particularly good dream.

A really bad dream... Cool

llanillo

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Its not good for people who bought bitcoin at 600$

krishatnet

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The downtrend is continues and don't find any support.

efreeti

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Price going up or down is neither good news or bad news for wider adaptation and usage.

Stability is utmost important if we are to use btc to conduct everyday business.

Remember remember the 5th of November

legendary

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Reverse engineer from time to time

I guess it doesn't help that I had a dream where the price had...crashed to as low as <$0.10, was not a particularly good dream.

Q7

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Actually I'm interested to see how low it can go and that is the level where the giant miners can never sell at loss

Topic: WHY THE BITCOIN PRICE DROP IS REALLY GOOD NEWS (Read 7494 times)