Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
octaft
on 28/11/2014, 20:22:23 UTC
Quote from: Blitz­ on November 28, 2014, 08:20:25 PM
Quote from: S3052 on November 28, 2014, 07:58:10 PM
Quote from: Blitz­ on November 28, 2014, 07:20:28 PM
Quote from: cech4204a on November 28, 2014, 07:19:38 PM
There are still like less than 1% of those who have some of BTC within world population, that's just not enough after 5+ years from developement.
Adoption is not needed, Bitcoin is an asset primarily for the (very) wealthy.

Blitz,
could not agree more.
Most of the movements in bitcoin prices stem from speculation and investment into it. it's very similar to Gold. Adoption is not so much needed. Meaning, not 100% of the worlds population have to have golden bracelets or rings or earrings. It's enough that 1% hoard it or sell it = like central banks and funds and hedge funds
For evidence of this, one only needs to have a look at https://bitcointalk.org/index.php?topic=337486.0. This fund has been buying thousands of BTC per week recently, pretty much absorbing 2 days of mining supply per week. Now imagine multiple such funds.

Adoption? Haha. Cheesy

Perhaps you should let all the bitcoiners marketing bitcoin to merchants and consumers in on the secret.