Re: If Enough People Loose Their Money, Will Bitcoin Go Into a Long Bear Market?
I somehow don't gett it sometimes...
Bitcoin exchanges are still quite small things compared to stockexchanges like Wallstreet or stockmarket online exchanges, and we saw often enough this yera that the price can easily be manipulated in this or that direction.
So whyt would happen if the majority of the community now would just put no more btc sale offers lower than maybe 380 for now on the exchanges??
In my opinion 2 things....
1. Even that there still might be some guys who still like to give away their coins for nothing, those would be fast bought up, and then exchanges' ask sides would all show up prices o 380 and above.
Maybe ther would then be a short time where the trading volume would go near 0, but soon it would go up again and all people who want to buy bTC would see that the prices on all amjor exchanges are around the same, and the smaller would the also soon follow.
2. This would result in the price graphs to show a price encrease of over 50USD/BTC within let's say 3 or 4 hours, this would make many people think that the bottom had been through now and this would attract a lot of people to buy now before the price goes up more (that's how most of non professionals would think because of what they see)
So even if a lot of people (especially miners) need their coins to by changed to Fiat topay bills, this would not takes weeks for the price to move...and I think everybody ca wait some hours or a day to chnage their coins.
For sure are there also the big players on the market but except they hold short obligations they should also have no interest in such low BTC PRICE...
If more than 80%of the community would do this, we would sure be able to stabilise the price on a 400USD level with a few coordinated actions like this...
Just my opinion...but all who have hardware running at home should have the same interest to start eraning again some/more money...
Bitcoin exchanges are still quite small things compared to stockexchanges like Wallstreet or stockmarket online exchanges, and we saw often enough this yera that the price can easily be manipulated in this or that direction.
So whyt would happen if the majority of the community now would just put no more btc sale offers lower than maybe 380 for now on the exchanges??
In my opinion 2 things....
1. Even that there still might be some guys who still like to give away their coins for nothing, those would be fast bought up, and then exchanges' ask sides would all show up prices o 380 and above.
Maybe ther would then be a short time where the trading volume would go near 0, but soon it would go up again and all people who want to buy bTC would see that the prices on all amjor exchanges are around the same, and the smaller would the also soon follow.
2. This would result in the price graphs to show a price encrease of over 50USD/BTC within let's say 3 or 4 hours, this would make many people think that the bottom had been through now and this would attract a lot of people to buy now before the price goes up more (that's how most of non professionals would think because of what they see)
So even if a lot of people (especially miners) need their coins to by changed to Fiat topay bills, this would not takes weeks for the price to move...and I think everybody ca wait some hours or a day to chnage their coins.
For sure are there also the big players on the market but except they hold short obligations they should also have no interest in such low BTC PRICE...
If more than 80%of the community would do this, we would sure be able to stabilise the price on a 400USD level with a few coordinated actions like this...
Just my opinion...but all who have hardware running at home should have the same interest to start eraning again some/more money...
More than 3,600 new coins are
Most of the
But I like your trick of limiting the supply by refusing to sell. Artificial scarcity is the very gimmick Bitcoin and Beanie Babies are based on, so the idea isn't entirely original.
I'm sure many people think like yourself tho, and that's why I was able to sell my coins at a profit, leaving you with the bag.
I used to feel a bit guilty about it, but eventually learned to see myself as teaching you a valuable lesson & actually feel proud of what I do
Hope this clears things up.