We have been looking for answers on why the Bitcoin price is falling, because we want someone to blame. We have seen the price going down from $19 000+ to $6500 and everyone is looking for the big reason to explain this.
We blamed the governments for regulations and we blame BCash supporters for selling us out and we have been blaming the Mt Gox guy for dumping the coins on the exchanges, but we have not looked at ourselves.
Did we forget that the price of Bitcoin is based on Supply and Demand and that we have to work hard to grow the demand? There are constantly coins being added from the mining side, but the demand side is not keeping up. Why?
Yes, the price increase to $19 000 was spurred on by speculative greed, but we should have grown faster to sustain that progress.
I think everyone of us is to blame, because we should work harder to, :
~ Approach local merchants to ask if they would accept Bitcoin.
~ Ask Merchants to install a Bitcoin ATM in your area.
~ Stop hoarding all our coins and start to buy from the merchants that does accept Bitcoin.
~ Start using the Lightning Network to fast track the implementation.
~ Get SegWit addresses
~ Help people to invest in Bitcoin.
Let's stop blaming others and start working harder to grow the demand, then we will reap the rewards.
We blamed the governments for regulations and we blame BCash supporters for selling us out and we have been blaming the Mt Gox guy for dumping the coins on the exchanges, but we have not looked at ourselves.
Did we forget that the price of Bitcoin is based on Supply and Demand and that we have to work hard to grow the demand? There are constantly coins being added from the mining side, but the demand side is not keeping up. Why?
Yes, the price increase to $19 000 was spurred on by speculative greed, but we should have grown faster to sustain that progress.
I think everyone of us is to blame, because we should work harder to, :
~ Approach local merchants to ask if they would accept Bitcoin.
~ Ask Merchants to install a Bitcoin ATM in your area.
~ Stop hoarding all our coins and start to buy from the merchants that does accept Bitcoin.
~ Start using the Lightning Network to fast track the implementation.
~ Get SegWit addresses
~ Help people to invest in Bitcoin.
Let's stop blaming others and start working harder to grow the demand, then we will reap the rewards.