“Virtual currencies are not backed by any government or central bank, and at this point consumers are stepping into the Wild West when they engage in the market.”
What do you mean backed by something? When you finally default on paying national depts, what will my savings in this government backed currency be worth And government backed by what ? A trust ?
That seems to be the going theme lately. I guess it could be looked at both ways...it could mean that there are going to be less and less knee jerk reactions to news in the market. It will be interesting to see if we still say stable on pricing if we are hit with some legitimate bad news.
Actually, more companies accepting Bitcoin can cause the price to go down, since they basically just sell all the bitcoins they get paid via Coinbase or BitPay. So yeah, it might be that too.
This I thought as well, the -10% from dell when using Bitcoin is a good reason to spend some BTC there, thus lowering the Bitcoin price because dell insta sells the Bitcoins...
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BoardTrading Discussion
Re: Whats your price?
by
ferda2mx
on 20/06/2014, 12:08:55 UTC
I waiting for big moves, selling some when the price increases 20%+ in few days, and buying when the price quickly falls.
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BoardGames and rounds
Re: Celebrate World Cup and get your FREE BTC HERE
so who sodled above 800 to buy back near the 300-day MA (which we are nearing like in previous major crashes) is going to double his hodlings. the best hodlers are those who sell high, buy low.
If you have dollars or Bitcoins at exchange, you just hodl exchange IOU.