Bitcoin Forum

Old mentality: I have got to buy, the price is going up. I will not sell at $1200, bitcoins will be worth millions.

New mentality: I have got to sell, the price is going down. Why would I hold, I might lose everything.

Old one: Look at these cheap coins ($550 vs $1200) BUY!

New one: Look at these expensive coins. Now they are $550, in 2010 they were only a few cents. SELL!

Old one: I am investing in disruptive technology!

New one: I have been scammed!

Lots of people have been burnt buying at 1200, and they want to get out. Many early adopters will try to cash in their fortunes.


Fear will replace greed. Reality will replace delusion.

Look out below.

Bitcoin below 10 dollars in 2014.

... A chilling vision of things to come.

Bullshit. Or should I say "Porkies"

Old: bears post trite
New: bulls post trite

Wasn't this kind of the case with everyone who bought at above $200 back in April?

Just hodl and wait for the next bubble when Bitcoin will go to $5,000 or more.

I agree that bitcoin probably will go down in the short term. But it will eventually go back up. Especially if the Winklevoss ETF gets approved.

Old: any bear making price predictions is posting trite.
New: any bull making price predictions is posting trite.

Hint: I predict a meltdown, you predict a boom. Why is your post full of wisdom, while I am posting trite? My scenario is that bitcoin cant work, thus goes into single digits/cents. Your scenario (boom), cant be connected to a concrete price (or its much harder).

Well and I am here to tell you that bitcoin cant work and thus WILL crash. 2014 is a conservative time frame (1 year), as the bubble has been blown up to enormous proportions already. We have already had enormous world wide media coverage. I dont see how you can reflate this bubble, thus I predict the crash to complete in 2014.

I have explained my position in numerous threads.

If it comes true that's going to be awesome, cause then I can scoop up all the cheap coins

 ;D

There has never been a better time to maybe buy or sell bitcoins.

Just your (and few more bears) wishfull thinking

many are sitting on "free" coins since they have recouped their initial investment and then some on the way up. Doubtful they are going to get very fearful and sell all.

I thought it was a decent post.  Then I got to the last sentence.  Then I thought, OP is retarded.

they only got burnt because they SODL'd and did not HODL

Like the OP, I too enjoy PCP!

Shadow people got the weakest hands.

You haven't got the slightest clue what you're talking about. You do realise that Bitcoin is a technology, and not a financial market right? Bitcoin doesn't "crash". The exchange rate does and that's because it's a currency speculation market. Big whoop.

You haters never come out with any technical reasons why Bitcoin won't work. You just postulate that the technology is doomed because some people trading currencies lost a lot of money on BTC trades.

If I go long AUD/USD and lose heaps of money should I just tell you that Australia is doomed?

Ah but it could "crash". If there exists a bug in the block relay code that on processing a given block configuration somehow causes access to unallocated memory after relaying, the majority of the network would segfault. Not that this would ever happen, but it would be hilarious. ;D

I have explained it already (see my post history).

Hollliday has been denying the crash all the way down from $1200, and attacking anyone who suggests the price may go down vigorously. That is why I have the idiot on ignore.

The volume of trade around the 1200 mark is low compared to the significant volume around the 450 - 900 mark.
Some of the bag holders at 900 will dump and lose out but most will either hold, or buy more, which has been proven by the strong floor at 460, was tested on the way up and on the way down.

The only people who were correct in claiming that we were going to $10 were those who claimed that before Oct 26, 2012. The ones who claimed that we were going to less than that were correct even less often.

again one of these posts....
ok, I'll follow suit. Bitcoin will be worth 0$ in 2876!
 ::)
Haven't you heard, trend for 2014 is HODL?!

A cataclysmic event that drives the price back down to 10 USD may also mean the end of Bitcoin...

True, the ONLY real cataclysmic events which could have the power to destroy BTC are either something regulation-related (ban) or failure of the BTC protocol. Don't have any idea how likely these are of course.

Yep, so, HODL!!!!  :D ;)

Please explain your "can't work" scenario better.

Later you said "already had massive media coverage" but although I can't prove it, I really think that many of us here, with our noses in it every day, are under the illusion that every Tom, Dick and Harry in the world knows about Bitcoin, knows how to buy a Bitcoin, knows how a Bitcoin works, etc. I honestly believe that such a person is relatively rare on this planet at the moment.

For example, I live and work in Belgium in Europe, and I can tell you that no-one in the office here knows about Bitcoin. The one person I started talking to about it had not heard about it and looked confused. And he is on the internet every day (but browsing in French).

Although we (please excuse my talking for everybody) have Bitcoin on the brain, search for news etc, most people do not. And media coverage is fickle: it takes many repeats for it to sink in en masse.

Why "Bitcoin can't work"? Please explain more clearly.

Bitcoin won't fail, and it won't hit single digits... Doubt double is even possible. There is way too much support and adoption for the technology already and it's only scaling higher. Keep dreaming about your cheap coins which will never come.

I'm calling this bottom @ high to mid 300s. If it strikes that price within the next 2-3 weeks, that's the hot time to buy. Anything lower than 300 is just too much of a steal. I think that 420 might be the ATL that we see, which means most everyone missed their buying opportunity. I am still holding fiat as I am going to take the risk of finding a better opportunity elsewhere.

In other news:

http://i2.kym-cdn.com/photos/images/newsfeed/000/423/672/667.gif

Even if op's "vision" would come true I'd be still HODLING.

 ;D

right. as if your train of thought hasn't repeatedly been used at every single price point on the way up?

hey guy

double digits is coming




for mBTC

greed is the path to fear.
fear it the path to panic.
panic is the path to dark single digit times

?

1) Check out my post history.

2) In the US, bitcoin has been on front covers of main stream newspapers/magazines. Every tv news station has reported on it. Most precious metals investors know about it. Maybe the bubble can be reflated one more time. However I think in 2014 it will collapse.

You know, instead of coming up with weak theories about why Bitcoin can't work, if you had actually invested heavily in it when you found out about it you would be very well off now. Instead, you're just butthurt and lonely. And your contribution to this world is spending time trolling a bitcoin (which you claim is useless) forum.

Way to go. You are a real success.

LOL at you guys calling anybody who criticizes bitcoin a troll. I am interested in the topic sound money. I dont believe in bitcoin. I am not butthurt for missing out on bitcoin gains (which I believe are fake as most people will lose a lot of money and only a few will gain tremendously). I never said this forum is useless, as it is discussing important topics (state, economics, and money). You are pathetic.  

We will see how successful your investment in bitcoin will be. He who laughs last laughs best. Now you call me a troll who contributes nothing to this forum (but disinformation and FUD). Lets see what happens in 2014.


Now I know why you are so hostile towards me. I called you out on your we Americans are the most powerful and greatest on earth BULLSHIT. Must be harsh, I challenge two of your delusions (bitcoin and the US):

Sound money is money you can buy something with. So the gains in bitcoin are not fake. They are REAL. Real wealth is being created. Even if Bitcoin went to zero, some people become much better off financially in the process. You are butthurt. And you have nothing to contribute.

Here's an idea. If you are interested in "sound money," go make some. Troll.

1) I can buy stuff with dollars, does that make them sound money? Lets agree to disagree on the soundness of bitcoin. In my opinion the gains in bitcoin are not real because it is a pyramid. Again we will have to agree to disagree
2) I dont know why you feel the need to attack me personally instead of making a substantive argument (as I have done in numerous other threads).

https://bitcointalk.org/index.php?topic=361037.0
https://bitcointalk.org/index.php?topic=361037.msg3926046#msg3926046

Now you might not think I am correct. But that I contribute nothing while you are contributing information of great value is absurd. Get off your high horse and stop being emotional. We disagree on a investment decision.

Also you thinking America is the most powerful nation is foolish. America is going to collapse in the next decade. Again, once it happens you might think differently about my contribution. Same goes with bitcoin.

3) I dont see how you have a right to tell me what to do. Calling anybody who disagrees a troll and shaming him, has dictatorial tendencies.

Oh prophet, here is your path to great riches then: http://bitbet.us/bet/672/btc-will-hit-1000-without-dropping-to-100/

Yeah, I know it is unfair if you don't believe in the BTC future. Here's a fairer deal - pick a trusted community member, escrow him any amount of BTC you want, and I will send him the same amount of fiat at the current rate. In case bitcoin reaches $10 in 2014, you get my fiat. I get your BTC otherwise. Deal?

Your topic would have much more weight than a fart in the water that it is now. You can show you really believe what you type here.

Too many people with fiat waiting to scoop up cheap coins. Only way it will reach single digits is if there is a serious crackdown on btc. If it reaches single digits there is a good reason for it and it is unlikely to rise up again.

People are playing the holding game now; though after the China got out of the game I have a hard time seeing how the price can go back to $1000.

Anyone claiming bitcoin will reach $10 again is trolling.

However, pretending that bitcoins won't get cheaper in the coming days is also tolling. The Chinese haven't finished dumping their coins. BTC could easily get into the $300-$400 range for a while if the Chinese completely liquidate their BTC holdings.

After looking at your argument, it appears to be mostly assumption and presumption.


Are you a merchant accepting bitcoin?  If so, you can speak to your own experience, but you cannot assume that all merchants are instantly dumping bitcoin for fiat.  While I am not a merchant, I do use my bitcoin income to purchase items, rather than just exchanging them for fiat.


Governments expect taxes on all income.  Why would bitcoin be different?  Are you saying that USD can't function as a medium of exchange because governments expect taxes to be paid when you gain USD?


You can't overgeneralize.  Some governments may.  Other governments have already accepted bitcoin as a good idea.


Your earlier arguments already have flaws, so this conclusion is not valid.


This paragraph reads like a combination of FUD combined with wild generalized assumptions.

I'm not saying you're wrong about the exchange rate of bitcoin dropping.  But your arguments are flawed.

I do wonder what your motivation is for these posts.  Why come to a Bitcoin forum and try to spread a message that we're all doomed?  Unless you're just trying to stir up an argument.  At that, my friend, is the definition of a troll.

Try to understand my arguments before posting. You have not grasped any arguments under 1). The Arguments under 2) are summarized more clearly in the second link (https://bitcointalk.org/index.php?topic=361037.msg3926046#msg3926046) which you ignored. It is laughable that you call my "earlier arguments flawed", as you did not understand them in the first place.

Another Hero member, shaming posters who disagree with bitcoin. If somebody is posting bullish price projections you applaud from the sidelines. So transparent.

No shaming, it seems logical when people believe in what they are saying and can back it up. You are stating certain bold predictions about bitcoin price, which seem outrageous at the moment, but you have nothing to back it up, therefore trolling? We need to establish that :)

You see, while it might seem to you that your position is somehow fresh or original, we here witness trolls going back to 2011 who declare bitcoin as dead just because they can't understand the idea. None so far was ready to back it up with something substantial, though. Needless to say, none was right so far, too.

We will see who is right. My price prediction (below 10 dollars) is only consequential, as I dont believe Bitcoin will work. I have backed up my statements with reasoning (provided in the two links above). You might believe that my arguments are not substantial, however that is only your viewpoint. People who were invested in the housing bubble or the Nasdaq stock market bubble, also thought that there were no substantial counter arguments. Otherwise they would have divested.

You do engage in shaming tactics, as you immediately brand mark bears as trolls and state that I dont back up my statements, even though I have provided 2 links with detailed reasoning (and you can find even more if you browse my post history). This attack line is something you reserve for bears.

In this thread I have described a switch in mentality which I anticipate will take place in future. It is a speculation thread. Detailed back up for my position is provided in the economics threads (and these are easily identifiable via the post history). Thus the following statement ("Your topic would have much more weight than a fart in the water that it is now.") is a a shaming tactic.

Even more absurd is the previous poster, who criticizes my arguments from his high horse, while not even grasping their content!  

The amount of people interested in Bitcoin combined with the supply will not allow BTC to drop to single digits ever again.  Or double digits IMO.  I would buy so many if it did, just like everyone else would.

The law of supply and demand can't be beaten.

I didn't even find an argument, some description of future bitcoin sentiment decline and an outrageous price prediction - pretty good summary of your first post. Posts of so little substance are usually posted to start a flame. Also, numerous references to "read my posts history", this is neither polite nor would anyone really care enough.

Read my book if you want to know why.

If you told me two weeks ago, $600 dollar Bitcoin, I would have snapped your hand off.

Now that I can get $600 dollar Bitcoin, I aint buying.

See how easily the psychology of price shifts.

Let me just say this :

Past Performance is not indicative of future performance.

HODLers , Good luck  :D

Most of people don't want to buy btc to play poker or satoshidice, they just want make profits. And if they can't make big profits anymore, they'll leave as the tulip system did 350 years ago...

Bitcoin euphoria just reminds me of Second Life hype. But Second Life is not dead, there are always people on there. Bitcoin won't die too. It follows the same way.

Your perspective is small and based on silliness. You do not comprehend the destruptive technology that bitcoin offers. To compare it to a virtual avatar world like Second Live shows how small your perspective is. You will be yet another person wondering how it all came to be.

Agree with the op.

Sorry guys , we got a way to go until all stabilizing. After we hit 300 again, then the panic really starts

I think you didn't know Second Life...

When it debuted in 2003, Second Life was an irresistible subject for Geeks and technophile reporters. It was the subject of endless, high-profile reports. Numerous companies attempted to capitalize on the attention by launching an official presence in SL.  Early adopters made millions too. The Linden Dollar, could soon influence whole industries and governments. Media coverage touted Second Life as the future of the Internet.

Yes, there are many similarities with bitcoin.

No, Second Life didn't solve major financial problems. Bitcoin does. If you don't know that, which its obvious you don't, then you will have to figure it out years down the road. I am not going to spend my time educating you.


EDIT: But if you are interesting in education yourself you can watch this: https://www.youtube.com/watch?v=DPiFMuPh1uA&feature=share

Hey Kid, learn from Everyone and stop your rebellion.

Bitcoin solves nothing. Bitcoin is nothing more than a speculative bubble.

But maybe new cryptos like emunie will solve these problems...

You are seriously joking. Like there would not have happened massive global development in bitcoin area and we are only getting started. This kind of messages normally always mean that the person has completely missed the train or sold too early and want to get back aboard cheaper...well, not with my coins.

Ridiculous.

Ok. Meanwhile, while I am learning from everybody, you can go back and play on your Xbox.  See you at $2000. Oh, actually I won't because you won't be here.

Btw, I own 101,000 emu.  I think its a great idea. However, bitcoin will be at ATHs within 6 months. Have fun playing video games.

Get it in your head. This is a speculation thread. I have provided TWO LINKS above with detailed back up. You are pathetic. 

The developments in China have honestly spooked me on Bitcoins future. While I think Bitcoin will always survive, it is clear in my mind that governments have all the power they need to keep Bitcoin a niche and fringe player in asset diversification.

If you can't trade into and out of Bitcoin quickly, then its value is greatly diminished.

I think we are at an inflection point in the first two quarters of 2014, either Bitcoin will solve its own problems or we will see Crypto Currency life 2.0, with another crypto taking the spotlight or even worse a complete abandonment of the whole idea by most people.

Everyone wants to say Bitcoin is a protocol and not software. I say BS, all the software that makes bitcoin work (exchanges, wallets, nodes, whatever) has to improve dramatically ....soon.

I own almost zero bitcoin right now. I would rather wait and lost a little on the upside than risk all the profits i have made so far. I do worry that there will be a drop in price that will be so painful that we will see full capitulation, not by any of the hard core longs on this forum, but by all the joe blow investors that drove it to 1200 in the first place.

Umm, from memory Second Life had Hyper-inflation as Linden Corp gave away lots of LD's on signup......

I have bothered to look your links up. I see nothing here that a much smarter trolls have not repeated since 2011. Intrinsic value you say :) You are quite dumb my friend. Nothing has intrinsic value. Not your gold, not your cash, not your house or securities. Right, you can wear your gold or live in your house, but 99.99% of it's value is not coming from that, but from the other things (working utilities, neighborhood, social services; pure trust in case of gold). I can print out my bitcoins any time I like, about as much useful as wearing a gold brick around my neck.

If anyone wants some action on their prediction of single digits in 2014 then I'm game (as I'm sure many others are).  Let's make it fun and put some money on it.  State your terms and I'll go in for up to $1000 or 2BTC or whatever.  Won't even say that your wrong, only that I like my odds.

:) None of them will take your bet. They are just bitter kids who lost on the opportunity when coins were cheap and now they troll the rest of us.

Yeah get in line! Waiting for some troll to stand by their word from like 2012 :) But nothing besides hot air so far.