Bitcoin Forum

i have observed that now bitcoins arrogance causes its price drop

as soon as bitcoin looks too expensive, people start seeing bitcoin as some sort of arrogant cryptosect,

and the price drops, as will its popularity,

as soon as 12 000 USD are beeing reched again and people start speculating a price explosion again, bitcoin looks again arrogant for many and people will drop it

someone else expects the same?

regards

Is a network of computers scattered around the globe capable of "arrogance"?  I wouldn't say it's correct to anthropomorphise Bitcoin in this way.  Bitcoin has no awareness of the fiat price ascribed to it by the speculators.  All it knows is that there should be another block in ~10 minutes and everything else is immaterial.

People generally need to spend less time fixating on the fiat "value", because that isn't the real value at all.  If that's the sole measurement by which people are casting their judgements on Bitcoin, maybe it is they who are the arrogant (or more likely ignorant) ones.  I'd offer the idiom that "you can't put a price on freedom", but evidently it's all people are capable of.   ::)

of course fiat hase some fomr of value, people that work for it think its beeing not used by individuals like trump or the real estate tycoons in china to enrich themselves but to protect and upkeep usefull productivive strucutre as does it fund culture, bitcoin however behaves like an arrogant energy wasting sect that seeks attention,

since there are now 1400 cryptocurrencies, why should people trust bitcoin at all?

Welcome to the world of trading,there are different factors in play when the price goes up,it is not simply because that people are not doing any sort of trade during the sell off period and it is not because of arrogance,why you dare to invest in something which would make you loose money,if the market sentiment goes up,the price naturally will go up.There is a major resistance at $12 k and it might take some time to breach that resistance.

selloff period?

seriously

all that volatility earning is basically a human form of vulturism is going to backfire because those that trust in the currency and its value and provide value for it are losing wealth by those that systematically speculate with it, and cause the volatility,

bitcoin might run out of steam because of that volatility that people try to earn money with, because only speculations are currently driving the value, not its social purpose

No matter how people will see Bitcoin, they will use it. The first thing you do when you want to buy into a coin, you buy Bitcoin first in most of the cases.
Then you use the Bitcoin to buy something else.
When you want to cash out, you exchange the other coins for Bitcoin, than Bitcoin for cash.
Maybe no one will hold Bitcoin, but they for sure will use it.

More than an arrogance related to the price, I tend to find it related to the dominance. It is fine if one bitcoin is worth 12k, but the real dominance is aboutthe marketcap.

marketcap ist just a multiplication, just check ripple, got an even higher marketcap, needs insignificant price increase and is over bitcoin,

the real meaning is about social support, and acceptance, and arrogance doesnt work well lets see how it backfires at 12k

My insight, exactly.

OP is measuring the price as a level of arrogance where, in fact, it has nothing to do with it. FGS, how could the price be associated with arrogance? ::)


I'd prefer ignorant. Most of the people out there investing/earning Bitcoin does not know what Bitcoin is in the first place. All they care about is the price itself. They always see Bitcoin as an asset that will make them rich and they always believe Bitcoin will keep on increasing in value. But when a crash comes, they get easily wiped out.

How would the price and speculation around it, can be termed as arrogance? Bitcoin is the pioneer in Cryptocurrency and that's why it is immensely popular around the world.

And the price fluctuation you are talking about is purely the nature of any speculative currency. Majority of the Cryptocurrency is priced as per the market demand and speculators play around the price to gain profit. Terming it as arrogance is probably your sheer ignorance about the market or wrong conceptualization. In either way, it makes no sense.

I also do not like the term arrogance used by OP here to describe those. :)  Its on support and resistance, and when a traders sees he has a margin of profit, they sell. For me its normal, your goal in trading is for profit, and when a trader his profit is enought then he can sell anytime. We need more holder for the price to go up and more good news too.

"Bitcoin is an arrogant technology", sounds weird to me. It's not about the bitcoin, but how the users in the world manage it as a digital asset, someone calls it a bubble. some people also think bitcoin is a tool that can make you a billionaire in just 1 year. Bitcoin is just a technology, and there is no arrogance in it that can cause its price to decline.

I don't understand by arrogance of bitcoin. It's always like that ever since as far as I know. And the exponential growth and drastic fall is just part of the system, which we all call volatility.

People cash out that contributed to the price going down, but I don't see any problem with that. We don't expect everyone to just really hold on their coin and hope that it will grow. Sometimes you need to take profits and when the market is fit for re-investment, then enter again. And there is no arrogance on that.

the detractors of bitcoins have been successful in getting us to feel that getting some bitcoins is a get rich quick scheme and not only that we have allowed them to instill in us the bitcoin faithful as well .They have been successful in getting us to think only of the price what about the other features which makes it a great currency ... its decentralization for example and if you notice this is the main and only point they have in trying to convince people to avoid it ....price , price , price .......the pricing is volatile yes but that great too because it allows new members who just wanna try bitcoins to get some at a respectable price and almost certainly make a profit in the short term.

It's natural for bitcoin because bitcoin still holds the highest coin rank, at a price like this I believe that soon bitcoin prices will explode sliding up to the moon, and so many are waiting.

Bitcoin itself knows no arrogance, the people around it might, which is fine as long as there's also healthy discussions.

Bitcoin has bigger enemies to worry about, don't believe in the illuminati, but there's still powerful people who see less profit.

Bitcoin currencies always have the highest price compared to other coin coin altcoins, and bitcoin is expensive but this is not the peak of bitcoin prices, someday bitcoin prices can still soar higher than the high price in 2017.

In today's world, impudence is the second happiness. Bitcoin has gained confidence and is now confident in its abilities. We can't give up on him. The reason is very simple. There is nothing better. Even if the transaction price is $ 100 + there will be people who transfer millions and for them $ 100 is like for you 1 cent.

I don't think the feature of bitcoin that makes the price rise quite remarkably isn't called "arrogance". When loads of people demand bitcoin for their transactions or as a form of investment we can only expect a price increment. This is normal for every currency and commodity. In the case of bitcoin, some people do not actually identify good entry points in the bitcoin market before investing. Such actions have different repercussions on the market.

Arrogance of bitcoin? I disagree with you, poster, because we are the ones who give bitcoin value through our buying and selling. The truth is that bitcoin can not lose its popularity due to the prolonged price fall that is equally affecting other cryptocurrencies.

you are right, the arrogance of bitcoin when it reaches 20K makes bitcoin unaware that is one of the reasons for bitcoin falling today.

rising so high even can not be controlled, and drops also cannot be controlled.

Yes We could call it BTC arrogance if the rest were doing well and it was not. Unfortunately as a whole the crypto market is on a down trend since Bitcoin has dropped it's value. It's like people will call now some bad sighting on the whole virtual currency market. These market situation are some to say but above such beliefs. We have some other real solid reasons to focus on for Bitcoin price drop.

It's true with everything you say, and the arrogance of bitcoin is an ever-prevalent price bubble, and we should always take advantage of that bubble, and we must also avoid panic selling or panic buying so we do not get caught.

how many values you have given for bitcoin, so your value affects bitcoin price? are you part of whales that control bitcoin prices? I even hesitate.

I understand that the volume of bitcoin transactions affects bitcoin prices, but only whales have a major influence on bitcoin price control.

I see that this cycle is a boomerang for bitcoin.

The price fluctuations are very noticeable, Bitcoin is a bit of a curiosity, more so than an investment to some. The main reason for the crash was from the governments around the world passing their judgement upon how it should be outright banned, or regulated.
   When that happens, the panic continues to ensue as people begin to lose faith, due to the rigidness of the some of the decisions made by parliament.

Traders need to show some kind of arrogance after holding their bitcoins for long time, if in case they see the price rising. I don't think this this pride as you called arrogance is an enemy to bitcoins.

I don't think the component of bitcoin that influences the cost to rise surprisingly isn't designated "pomposity". At the point when heaps of individuals request bitcoin for their exchanges or as a type of venture we can just expect a value increase. This is typical for each money and item. On account of bitcoin, a few people don't really recognize great section focuses in the bitcoin advertise before contributing. Such activities have distinctive repercussions available.

It is quite weird to think that the cause of the frequent corrections in the price of bitcoin is due to its supposed "arrogance", as if the bitcoin were a thinking and autonomous entity that could choose itself to adopt a position with respect to the markets. It is true that the psychological factor is very important in market trends, but in the end it is the individuals (and especially the big speculators) who are mainly responsible for the erratic movement in the price of bitcoin.

what number of qualities you have given for bitcoin, so your esteem influences bitcoin cost? is it accurate to say that you are a piece of whales that control bitcoin costs? I even waver.
I comprehend that the volume of bitcoin exchanges influences bitcoin costs, however just whales affect bitcoin value control.

Is this turd of a thread still going?  It's not "arrogance", it's "network effects".  Bitcoin has the value it does (whether you choose to ascribe that "value" in utility or dollars), above and beyond what other coins manage to achieve, by having the largest numbers behind it.  More active developers, more users, more hashrate, more nodes, more merchants and acceptance in the real world.  Whether you're merely a speculator or a believer in open-source, permissionless freedom and censorship resistance, that's what gives it its value.

I do not think that this is correct. how can a digital asset have arrogance? ;D

I wouldn't want to use the term "arrogance" in reference to the continuous fall in the price of bitcoin. Some may have their own opinion for saying so but I strongly believe its all about the demand and supply which changes over a period of time; a trait that characterized cryptocurrencies. What about the altcoins that keep falling everyday; is that also arrogance?

I believe its not all about bitcoin arrogance. Well, most of people knew that bitcoin is quite speculative and its natural for them to sell their bitcoins at those prices because it will give them profits. The speculative nature of bitcoin gives too much volatility unto it because most of the people who buy bitcoins are investors and traders that is why the price is fluctuating too much and what you said should be expected.

I don't understand what do you mean exactly by Bitcoin arrogance? But I'm convinced that you put it all wrong.
Users are those who are defining Bitcoin and without them it wouldn't even exist. So status and price of Bitcoin are depending on their users. And those who would abandon Bitcoin every time when price goes down are not true users at all and know very little how it's functioning.

That's fine as long as there are healthy discussions. Bitcoin always has the highest price compared to other coin coins, and bitcoin is expensive but this is not the highest price of bitcoin, one day the bitcoin price could rise above the highs in 2017. Bitcoin has gained confidence and is now confident in his abilities. The reason is very simple. Even if the transaction price is $ 100 + there will be people who send millions of dollars and give them $ 100 just like you are a cent. When countless people ask for their bitcoin deals or as a form of investment, we can only expect price increases. In the case of bitcoin, some people do not really identify good entry points in the bitcoin market before investing.

I usually like your inputs on the altcoin projects but you are taking this one too far up a rat's ass. The market works on numbers, statistics and trading volumes. Psychological factors aren't enough to manipulate the market. Only small-ballers, illiterate traders do the panic selling. Actually, I have no idea where are we goiung with this topic.

i dont know about it, maybe you are truu that arrogance will be our enemy in bitcoin and trading, because we can see that every time we arrogance we will get the bad result

I don't agree with your post. First, bitcoin is a cryptocurrency not a person. The term arrogance won't apply to a thing. If you find something that has of great value arrogant then there must be something wrong with your judgement. I just don't understand why there are some individuals who are so salty when bitcoin's value skyrocketed. They are really doing their best to bring down this awesome technology for they don't understand a thing. We are moving into the digital world and nothing can stop this technology for this can bring lots of benefits to all of its users.