Quote from: Searing on August 14, 2014, 01:11:00 PM

Quote from: MelodyRowell on August 14, 2014, 08:32:51 AM

What happen to BTC price, cmon!!!

Well it probably has been said before..thinking out loud here.

1) miners have been the cheerleaders of bitcoin...with asic prices now much HIGHER then you could just plain buy BTC for.. not to mention the old
pre-order drama....they are not spending $$$ and coin on such anymore it is slowing down imho
they are not as vocal anymore...thus slows the newbie conversion by the old timers..likely have the wife on their case..and cashing some out...Also BIG mining farms
cash out to USD asap...so that is constant 'leak' in the bitcoin faucet imho $$$ wise..and the big mining farms are building like heck but may
be not planning their expansions 'quite' as soon as they may have ...with BTC price etc the way it is so that also may slow in next few months..but
for now it is too much supply

2) people still rely on the news media 'warnings' on bitcoin (sells ads) also the NY regulatory stuff (even if good intentioned they don't
have a clue and could make it worse) the US consumer protection agency fraud division taking complaints now on BTC related scams
(BFL watch out) bad news moves journalism ..thus....not a lot 'enough' use as it should be either by newbies buying and holding or people using BTC as fast
as miners cash out and make coin in the present (likely can't keep this up) too much held coin/mined coin/ no new blood coming in to spread
the hype from OUR point of view..and of course just plain 'vested interests' that have NO interest in bitcoin at all succeeding

3) people like me are holding but we have either 'enough coin' at the present time (ie in my case all I'm comfortable with the BTC I have (miners I got argh!)
at this time...or whales also holding ..ie everyone who is a BTC guy from either 1 year ago already 'bought' in from the $1100
to $600 drop ...we have the 'full tummy feeling' so to speak ...with all the bad press and gov't regulation hype Newbies and
big money investors are still sitting on the sidelines scratching head about btc...stalemate

4) Big money won't get in yet...they likely will get in with the facebook twins EFT and say someone like amazon or ebay takes BTC
but they won't get in with all the hype about BTC being evil/regulations/and a no one knows WTF is going on...a chicken and egg
problem you need the big money to jump in to stop this silly panicness crap and newbies they won'g jump in because they have
no idea wtf is going on yet with gov't and bad press...stalemate...BUT there is hope if it really gets say down in price about
450 usd or some such...whatever the bottom is THEN these big money types would probably start to wade into the pool slowly
if you want them to jump in imho we need Ebay/paypal or amazon to announce they are taking BTC at this price of $512..things
would go to the moon quick imho...but how to get the newbies and the big money folks in not to mention merchants like ebay/paypal
and amazon to get off the fence is debatable?

5) thus we may just 'float' about for a bit till something breaks in our favor....ebay/paypal takes bitcoin the facebook twins EFT
and just plain slow down of hash rate increase in the face of low prices....we have too much coin imho so price is dropping
what keeps me up nights is the press gets wind of ISIS the terror group buying BTC in some kinda sting or some association like
that ....we would be looking at 300 usd coin and more gov't regulatory panic imho that would suck

anyway if you drank the kool aid then all is hunky dory..anything below the ATH if BTC is gonna survive the next 10 years is 'gravy'
so if you think a market that survives will always get back to its ATH (may take 10yrs like housing but still) then you are buying like
a demon...or like me you are tapped out with perhaps the bad choice of getting miners at this price range and tapped out or
you are saying f*ck this ..it is too stressful and you are tapping out your mined 150 usd coin from last year and taking profits

it just all seems to be coming in bunches imho... 2 lessons 1) interesting as hell from a 'is the plane gonna crash or pull up" point
of view and 2) don't put anything in BTC you can't afford to lose...hopefully that is ALL that is going on ...people just feel 'overextended'
in what they put into BTC and this will all resolve itself in a month or so

but man there is a dang lot of moving parts and don't take what I said above in anyway that I know wtf i'm talking about
just some speculation on some of the moving parts....(head hurts gonna lie down....btc is mysterious to me)

Searing

Spot on. Sums things up perfectly. I am all in on mining rigs also, might as well tighten my chin strap and enjoy the ride.

Hillbilly

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