Quote from: DeathAndTaxes on November 29, 2013, 09:57:30 PM

Quote from: jonat3 on November 29, 2013, 09:54:30 PM

Ummm, maybe you guys haven't noticed, but the growth in price started stalling after it passed 1000 dollars through Bitstamp. Usually, the price explodes after passing a psychological treshold, but strangely enough it stalled righ after. I've tried advocating BTC to people the last few days, but many think it's too expensive right now. May I remind you guys that psychological perception has actual effects in reality and that it's perceived expensiveness may have resulted in the price stalling?

We need mBTC and fast or growth will be much slower from here on out.

On the other hand, slow growth might actually be better, because growth might be seen as more healthy. Not to mention that it might give me a chance to obtain more BTC for a cheap price. Well, it's really your choice if you want fast growth or not. But IMO, the perceived expensiveness of BTC DOES have an actual effect on demand.

Yeah it probably has nothing to do with the 600% run in the last 30 days. Over the long run Bitcoin has apreciated against the dollar by ~0.5% per day or 15% per month. The last 30 days was 40x that.

I'm not saying that there aren't multiple factors at play, but it matters what people believe. That's all I'm saying. If people believe they can't buy smaller fractions of a BTC and they believe that it is too expensive, it will stall demand. Just my 2 cents.