Post
Topic
Board Economics
Re: Bitcoin goes up slowly
by
empoweoqwj
on 11/12/2013, 00:50:36 UTC
the reason is why so slowly, because industrial btc owner doesnt helping. so there is the difference between mortal people when it goes high slowly and immortal as knc, terra, etc.. when it goes in 5 days 1000% up. the advantage when mortals trading is the stability of the currency it wont popup 20% up and down.. you can take the grow rate right now and calculate what it will cost in 2 years with circa 10%-20% accuracy.

My attempt at a re-write:

Bitcoin is rising slowly
The reason it's rising slowly is because rather than big investors pumping the currency, only ordinary people are currently buying. The advantage of this is we can more accurately determine the true grow rate of value if we only consider ordinary people buying, selling and trading goods. The net result is more stability of the currency and more confidence from further ordinary people.

Many thanks for the rewrite Smiley

Its certainly true that there are a lot of "whales" e.g. miners and early adopters that have lots of coins to sell. They aren't going to sell 2 at a time, so when they do sell on an exchange, the price will be affected. There are also now traders with large amounts of coins to trade. But there is no way to separate these out from "normal" people. .... the price is the price. That's all there is to it I'm afraid.