Bitcoin Forum

Now that the bubble is finally starting to collapse rapidly, i was pondering how we let this all happen...
What are the results of this 'experiment'/scam?
- A hand full of teens who are now multi millionaires.
- A whole lot of people that lost a whole lot of real money.

Even though we all got warned time and time again, by economists, professors and even a lot of libertarians, not to fall for the bitcoin.
How on earth was it possible that people spend $1200!!!! on literary NOTHING?! Is this pure greed or stupidity? What is going on here?

I feel bad for all the people who got victimized and i think some effort should be made to put the creators of this bubble behind bars, too many have been victimized to let this slide.

You kidding?

That's like saying the people who invested into the tech bubble should be compensated.

This is what happens when people buy shit that they have zero understanding of.

It's true that the best way to effect real change is to create a no-history forum account called omgbitcoinsux4real or similar and create a whining thread begging users of a completely decentralised system to do my bidding.

Cast iron works every time guarantee. And if I'm wrong, Mark Kareples will personally compensate you.

Another idiotic thread by a newbie. There is no bubble, just FUD and stupid people.
BTW, your name says it all.

Idiots like OP will get back in later this year when it goes to new all time highs

OP is just an NXT/NEM/altcoin troll.

That's symmetry for you.  Bitcoin is a zero-sum game. There have to be a lot of losers.

I don't understand. Who is a "victim"? You mean someone who bought, then panic sold below their purchase price? If that is the victim then they are also the perpetrator and should be arrested.  ::)

Honestly, I don't know how people lose money with bitcoin unless they do stupid things that would lose them money in any financial transaction. I have been trading in things for decades and I have never seen anything that comes close to the explosive growth in value of bitcoin.

What are you talking about. There's plenty of things that exploded in value.

Like Oculus rift, invented 2012, sold for billions in 2014.

all bubbles have same rules, they come and go :) i see we are at bottom as this kind of posts appears
see you on next bubble in couple months

Was I panicking this much a year ago?  ;)  I apologize if I was.

Anyone that has been involved with Bitcoin a year or longer is used to this.  I, as "permabull" as I have been called, am always optimistic when the price rises and think to myself "It could never crash back down again."  The veterans in Bitcoin have their reasons why there will be dips like this, and many profit of them.   As a holder these dips are painful but if you just hold on for a few weeks or at most months, it all works out.  Just a little patience is all that is required here.

The best thing to do on days like these? BUY!  ;D

I agree with you!!! What da fuck is this crappy bubble ponzi scheme!!!? It looks to me like the Internet, which also had its bubble...

http://www.stock-market-crash.net/wp-content/uploads/2012/06/nasdaq-bubble.gif

Bitcoin, just like the internet, is useless!!! ... After all, who the hell uses the internet today after that bubble that ripped off poor people!!??

Thanks for your wise words, oh, technology oracle. God bless you.  ;D

Bubbles have been occurring and popping since speculation has existed.  Thats a very very long time.  It is nothing that is per se "allowed to happen."  Bubbles are just something that naturally occur as a result of human greed and fear.  Unless you can turn people into emotionless robots, you can not erase greed and fear.  We have seen how many major asset/credit bubbles in the past 15 years alone?

Strong username to post content ratio.

What's going on here?  A self styled anti-bitcoin troll talking nonsense.  Obviously the price is deflated on news out of China. 

antibitcoinconsortium

what a great name for a Bitcointalk member!

Don't you think you should consider why you did waste your time @ Bitcointalk when you are Anti Bitcoin related?

This we agree on! :D

Bitcoin is not for the faint-hearted. Remember how some people were screaming back in 2011 when Bitcoin price went down to $2.50 from a high of $30+?
 
Many of people who bought even at $30 at that time and held till today are already incredibly rich!

Nothing is wrong. This is just a regular correction, IMO.

I got my BTC with no fiat spent.  :o

how is it this thread is not locked yet? jk.. yeah you troll  8)

Bitcoin is on sale and people are complaining!   :o

Simultaneously sad, true, and hilarious.

Thread has been won.

All you fools can stop feeding the troll now.

I've always found it comical that people try to compare Bitcoin to the internet.  The key difference between the two is, the internet is immensely useful.  Bitcoin, not so much.  Kind of a one trick pony in comparison.  Please stop, you just sound ridiculous. 

So much this.

Exactly, people are whining about cheap Bitcoins!  You could get close to 3 peak GOX coins at current prices.

You want in, now's the time.

Pre-China prices of around $100 sound better.  

How old are you kid? Did you know that 10 years ago your Facebook, Skype or Twitter didn't exist? Did you know that most of us refused to change to Google cos Altavista was number 1 search engine? lol Did you know that 15 years ago the Internet was basically this?

http://inetstudent1.francistuttle.com/dk0871558/lessons/itf/internet_timeline/images/usenet.gif


Mark Andreessen, the very same man who put a browser in front of your face says the same: Bitcoin is like the early Internet. If you fail to see this, you clearly weren't there in the beginning of the net, when there was practically NOTHING built on top of TCP/IP. The "immensely useful" Internet that we know today was built by visionaries who believed in the future of the technology and were able to see practical applications for the tcp, http and www protocols

http://3.bp.blogspot.com/-88wJXprrFos/Tp5vsMMQyPI/AAAAAAAAADU/jRrnyWuDw-o/s1600/InternetEvolution.jpg

The Fifth Protocol (http://anonym.to/?http://startupboy.com/2014/04/01/the-fifth-protocol/)

So now, stop saying non-sense... it's the short-sighted people like you who sound ridiculous....

You're partly right in that it would take advancement from the original 1.0 stuff to really make it useful. Probably why the same Marc Andreessen you speak of, has invested in Ripple.  Now, that's a technical advancement that has multi-purpose usefulness.  Bitcoin, not so much. Again I say, kind of a one trick pony, compared to the internet.  ::)

Didn't Marc Andreesen also invest in Coinbase?  Didn't Marc Andreesen recently put the smackdown to Warren Buffett, in defense of Bitcoin.  Didn't the creator of Ripple, Jed McCaleb, leave Ripple to work on a secret Bitcoin project?  Isn't it year 5 of Bitcoin.  Didn't it take the Internet decades before it was finally widely adopted?

LOL sorry dude.  Ripple's not doing anything, Bitcoin's fine and always will be.  Just needs time to grow.

One...trick...pony.  Maybe better to compare Bitcoin to AOL or Yahoo or possibly even Pets.com or something like that.  Certainly not the whole internet.  Get serious. ;D

How is it one trick pony though?

Isn't it a currency, protocol, payment method, distributed ledger, all rolled into one.  The internet has some of the same qualities.  TCP/IP v4 anyone?  When is that getting replaced?   :P

The title....how 'we' let this happen.....

What exactly has happened ?

Who are 'we' ?

Please do not state things like this and assume others just agree with you.

Price changes ?  Is that what you are worried about ???   Really ?

The price of bitcoin has been changing for years.

It has been killed in the press and by so many 'experts' for years.

Yet the network hash rate is unreal.  I never , ever thought it could get this fast a few years ago ever in a thousand years.

So whatever 'you' think has 'happened' may be something that happened to 'you' or 'your belief'. 

If anything was happening people would not be mining.

The original concept of bitcoin is the key factor not any price.

I strongly suggest you read the original white paper. 

It is short and says a whole lot. 

You may feel differently if you take my advice.

Because the internet is useful in a multitude of ways.  Bitcoin just sends and receives Bitcoin.  Maybe comparing it to email would be better but even then, we're talking about pre-SMTP email because it can only send to one wallet type.  Bitcoin.  So it's like a pre-federated email.  I'm not knocking Bitcoin per se, just the reference to comparing it to the internet.  It will never be as useful in so many ways as the internet.  Even if you could dream up the ways, the blockchain could never handle it.  Better tech will arise from the proof-of-concept that Bitcoin is but Bitcoin will never be on an "internet" level of functionality and usefulness.  It's just a single currency/commodity with one main function.  I'm almost surprised this has to be explained.  Almost...

What better tech do you speak of?  Ripple LOL?  Have you ever considered Bitcoin could be used in an election one day?  Can you send Gold or Silver to someone else around the world easily in minutes?  I guess you can Paypal or Western Union it but that's if you like dealing with fees.   ;D

Good, so you're conceding the Bitcoin as internet reference. Smart. Moving on...

Ripple is a good looking option.  It's very versatile, currency agnostic, blah, blah, blah.  It's like a currency, swiss army knife.  ;D  But I don't think people will stop creating and developing.  Look, Bitcoin solved the double-spend problem.  Great...now that can be reproduced for anything.  Voting is a very good example.  Although, the blockchain doesn't scale so I don't see how it would ever handle such a load, plus transactions.  There's a number of ways to handle voting via Ripple, but a simple fork of Bitcoin could be created to handle such a task.  I really think people overvalue the significance of Bitcoin as a brand and lose site of the tech, which is all that matters.  Then again, some don't really want to change the world, unless they get rich in the process.

If Ripple so innovative why isn't it receiving the backing and support that Bitcoin is getting?  Why isn't Ripple users getting warned, or why aren't they getting taxed, or why isn't Governments trying to get it regulated.

There's a reason why...Ripple isn't going anywhere!

Stop trying to mention Ripple in Bitcointalk, it isn't getting you anywhere.  On second thought, it isn't getting itself anywhere either!   :D  

It's probably why Jed McCaleb abandoned Ripple's ship...

Oh, I see I've hurt your feelings.  Certainly wasn't my intention but truth has a tendency to do that.  But you're right, who am I to spout such things.  Just some random forum poster.

Marc Andreessen seems to think Ripple's a good investment.  Maybe you've heard of him.   ;)

And this guy, VP of the Federal Reserve of St. Louis has couple of modest things to say about Ripple.


http://www.coindesk.com/federal-bank-vp-bitcoin-threat-means-banks-must-adapt-die/

http://aworldofcurrency.com/?p=1919

No. I'm the NXT troll (with one NEM stake and a fistful of dodgy ALTS)  ;D

BUt the OP is still being completely out of order. Even if BTC turns out to be a bubble, no-one has ever held a gun to anyones head and forced them to invest. We are all willing participants in breaking new ground / creating a new financial system, so crying about it when you think it's all going south is just childish, as is trying to find a scapegoat.


One trick pony would be a very good description of tha Interwebs in the mid-90s (i was there, i thought it was crap).
Send mail, look at very slow porn, get disconnected every 5 minutes, have a telephone bill like the GDP of Cuba.
Now look at us....

Even though I'm not the worlds biggest BTC fan, I'm pretty sure that Bitcoin is here to stay and I'm hodling my few BTC. And I'm gonna buy some more when it dips under $400.
Look on this dip as an opportunity, not a disaster.

BTW: I recently spent €200,000 on a pile of bricks and wood, arranged in a sort of cave like structure...was that a good idea ?
  

No feelings hurt.  True or False, Marc Andreesen has more skin in the Bitcoin game than Ripple?

Hey is Ripple XRP?  

http://rippleprice.com/ (http://rippleprice.com/)

Is that the price!!!

That's pretty pathetic dude.

To each his own on where they put their money.  I will never put money back into Bitcoin, for a multitude of reasons and I will never tell anyone else to invest in Bitcoin. From a long-term investment standpoint, I see much better options.  But that's me.


Pot calling the kettle black?  Have you looked at the Bitcoin price lately?   :o  ;D  

Fortunately for Ripple though, it's success is not determined by the value of it's internal currency.  "Swiss army knife"...just remember that.  ;)

How many cents is that for XRP or Ripple?   :o

Yup, to each their own.  If you see Bitcoin strictly as an investment vehicle and not as innovative, burgeoniing cryptocurrency, good luck to you on your XRP investment. 


BTW...127 XRP to make one dollar.  Dam having Unobtainium is better than XRP.   :o

Interesting - tell Mastercoin and Etherium just how much of a "one trick pony" bitcoin is, and they'll tell you all of the ways their technology is built FROM bit coin's concepts and extends its capabilities, a symbiotic relationship. They don't aim to replace bitcoin, but extend its functionality. Bitcoin can and will evolve. What is this "one wallet type" thing you're talking about? There are a wide variety of wallets that work with bitcoin and they will continue to become more user friendly, just like any software. The block chain could never handle it? Again, you haven't been paying attention to the efforts of other efforts that won't add excessive bloat to bitcoin, but will still manage the same goals.

As for Bitcoin's usefulness and how it compares to the utility of the internet, I think you're way off the mark there and probably don't truly appreciate how it can potentially serve as significant leverage against central banking and corrupt governments. In that way perhaps its the most important technological advancements in our lifetime.

Ripple's value is the network.  XRP is just a token like a plastic poker chip.  It's not supposed to be worth anything.  Maybe Bitcoin is plastic poster chip too except some folks are crazy to pay $400 for 1BTC

My bet is that Ripple will become more mainstream than BTC as a crypto.  Almost every economist, banker, financiers, gov regulator agree that crypto's value is in transmission not currency.  

Betting on BTC is betting that BTC will replace fiat.  No way this happens unless some catastrophic event occurs.  I can see BTC becoming like torrents.  Used by a niche crowd but can't become mainstream b/c too much negative stigma

Go ahead bet on Ripple I dare you Lol.

I personally don't think BTC will replace Fiat in the short term at least. In can Co exist together.

Having options isn't a bad thing right?

Since Etherium is basically vaporware, not really much I need to say to them.  Mastercoin, is building on a blockchain that doesn't scale so, not sure what you'd like me to tell them, they shouldn't already know.  As I said, innovation won't stop.  I love to see people pushing far beyond Bitcoin but the question of if Bitcoin is a one trick pony, is an easy yes, as was described above.  You can challenge that idea, once it actually does do more.  Dreaming of doing more, is just that...dreaming.


I guess because I don't care about fighting ideological battles against "governments".  What I care about is bringing real-world solutions to the unbanked, under-banked and the millions economically oppressed around the world.  Bitcoin doesn't solve that, because it's poorly distributed and lacks any desire or mechanisms to merge with current financial infrastructure, to actually be useful to people in 3rd world countries.  Look, Bitcoin does what it does but it is not an end all be all solution to the worlds economic woes.  It's just the place we started.  From a technical standpoint, if we're still talking about Bitcoin (beyond once upon a time) in 50 years, I'd be very disappointed in our abilities as humanity, to innovate.  

I agree with twiifm.  He is correct.  I also agree with you on this point.  They absolutely can coexist, as can hundreds of digital currencies. Now, XRP is not a speculative commodity like Bitcoin, so you're wasting your breath on that front.  You don't have to like Ripple, but Ripple is going to make it possible for all currencies and things of value to coexist, seamlessly.  That's what most fail to understand about Ripple.  It's not about speculation, it's about usefulness.

I would buy stock in Ripple if they IPO'd.  XRP aren't supposed to be treated like commodity.  Just a placeholder so the tech can work.  Ripple is designed to be integrated into current banking system.  The user doesn't even need to see XRP.

What consumers need is a way to transmit money that is digital and low cost

Answer me this then.

Why did the founder of Ripple jump ship to Bitcoin?

That's like Gavin going to work for PayPal.  ;D

Jed's always been a Bitcoiner.  He founded Mt. Gox.  He built Ripple to help Bitcoin.  I don't think we'll ever get the real scoop on the internal politics, but from what info is out there, it appeared to be a dispute between him and the CEO.  Who knows why or if that's even the case, but that has zero to do with the network, as Jed certainly did not give back his XRP holdings.   ;)  In fact, he recently donated a little of his XRP to an AI startup.

i laugh at all the posts that have under 100 activity. i skipped a few but those people do not know what bitcoin is about, they have not looked into bitcoin and they are purely in it to make a quick buck and return that profit into a fiat bank account.

noobs that panic and have no clue that bitcoin is a whole new economy and the noobs themselves are the sole cause of the panic drop. they do not understand or care about bitcoins usage or community.

to be honest i am glad they are cashing out. and running away. atleast then the rest of us that understand all of bitcoins potential uses, features and benefits can concentrate on bitcoin. and not the FIAT loving fanboys that cry at every price movement.

i find it laughable that americans and europeans give a crap about china.. they have on majority, never traveled to china, never used their chinese currency, never had a friend that lives in china, or even wrote a single word in chinese. yet these FIAT fanboys panic on the rumour of a chinese action that wont affect their american bank accounts one bit. it wont affect anything.

they simply act like sheep dumping the price. purely because some other sheep does it., being absolutely clueless of the big picture and long term resilience of bitcoin.

they need to learn. when mtgox crashed, the smart people did not follow mtgox prices down to $100. and neither should the rest of us follow china down.

any panicking noob that sells at a loss, has to take responsibility for why they sold at a loss and realize they shot themselves in the foot and no one is to blame but themselves.

the motto "if you sell at a loss, your a loser"
and so i say, to all of you fiat fan boys, go back to your FIAT and take your 1-5% yearly banking interest and leave us bitcoiners to do what we do best, develop the bitcoin ecosystem without you.

I am excited by Ripple's potential to deliver Bitcoin to the masses. Cross-currency payment and exchange---between Bitcoin and any other currency---will be killer.

At this early stage of the technological revolution, it is easy to miss the forest for trees.
But stepping back a little, it becomes clear that Bitcoin, Ripple, soon Ethereum ... are trees.
The forest is the concept of distributed temper-proof database and the permanent autonomous zone it creates as a layer on top of the existing Internet, let's call that the cryptospace.
Crypto-currencies are only one application of a distributed temper-proof database in the cryptospace, and Bitcoin is only one instance of a crypto-currency. Crypto-exchanges are another application and Ripple just an instance of that class.
If we are going to compare that to the Internet, Bitcoin is like the first dial-in BBS. A huge leap forward that contributed greatly to laying the foundation of the Internet we know today, but not the foundation itself. It may die like BBSs, or survive in a dusty corner of the larger cryptospace like Usenet, but it will be forever remembered as the one application that created the cryptospace.

How did someone lose real money?

No, I am serious....what real money?

If you exchanged usd (or whatever) for btc and the price dropped, it's par for the course but what real money was actually lost? Granted, its value drops but the nature of btc is that it goes back up eventually and apparently it did so at an enormous % ratio.

What was lost?

Can it ever be totally lost forever permanently?

Or is it really just numbers, units of virtual wealth, credit and trust/faith at the end of the day? A transfer of one set of numbers for another.

At what point is an investment considered lost if the thing being invested in still exists, thrives, has momentum and fluctuates, and is poised to be around for quite awhile?

I'd think that if you put in $100 and then the price/value went up and then dropped to $50 and you freaked out, cashed out - you didn't lose anything. You just jumped off. You know pretty much where it went :)

Wanna bet?

I'd love to, but it's open-ended.  Couldn't claim my winnings till death.   ;D

What makes you so certain I would?  You're not going to hit me with some "one-world currency" nonsense, are you?

I think that foundation of the cryptospace is probably the SHA-256 encryption technology on which Bitcoin was build. So I would say that Bitcoin is a considerable part of the forest, if not the whole forest.

How did we let this happen?
1) This forum got rid of the temporary "jail" section for newbies.
2) You signed up and started a troll thread.

Nope I am not. But I am suggesting that bitcoin's growth is explosive and pervasive, and ultimately you will be using it because there won't be anything else you can use...it's a platform. As a currency, its adoption mainstream inevitably devalues the state's currency and that currency will fail...and bitcoin or any of its evolutions or iterations will be the last currency standing by choice of the user.

Bitcoin's not going anywhere...not as a platform...and the currency will only evolve and grow. The probability you will be using it again and putting your money into it again is as certain as it is you will use the internet again, whether you put money into it directly or indirectly via other products or services that do.

You have some good points, however:

1.  Just because you have more time on the forum doesn't make you smarter or better than anyone else.

2.  China is relevant.  It's the largest country, and a huge market.  Who care if I've never been to China.  What the  heck does that have to do with anything.  

Yay gloom and doom, perfect time to buy. Markets go up and down, its not complicate.

Simple question: Is Bitcoin turing complete?
Simple answer: No.
Any questions?

People who engage in trolling are characterized by personality traits that fall in the so-called Dark Tetrad: Machiavellianism (willingness to manipulate and deceive others), narcissism (egotism and self-obsession), psychopathy (the lack of remorse and empathy), and sadism (pleasure in the suffering of others).

http://www.slate.com/articles/health_and_science/climate_desk/2014/02/internet_troll_personality_study_machiavellianism_narcissism_psychopathy.html

A little harsh doncha think?

Sometimes they're just assholes with an internet connection and idle hands  ;D

That's how you troll the trolls.

So, actually you did just hit me with one-world currency nonsense.  "...there won't be anything else you can use..."  Come on man.  I don't see how anyone can look around the crypto-space and actually say that with a straight face.   ;D

Bitcoin is not the internet and doesn't scale well enough to be on such a level of global penetration.  There is and will continue to be, many forms of cryptocurrency.  Not to mention, fiat and an infinite number of things people can deem as valuable.  This of course is why I love Ripple. Many currencies and many things of value, is the present and the future.  Not a one-world currency.  

I repeat, I will never put money back into Bitcoin, on pure principle and I won't miss it for a second.  However, if I break that commitment, I will find this thread and update it.  I'm a man of my word.  

Please do some research and scan the forums. You will come to see the number of times they have spread rumors and lies to drop the price down. I mean it does make sense, why pay $1400 per btc when you can pay $400. Well i would imagine their mentality to be inline with that thought.

If only we could check the BTC blockchain for the governments ey :D

OP is clearly conflicted:

"How did we let this happen?"

We? Don't you mean "How did you let this happen?".

So either:

• You don't know how to form sentences and you actually have some involvement with bitcoin, but fucked up something and lost a lot of money. Now you're bitter and looking for sympathy in the wrong places, or,
• You're here to troll and nothing else. and/or,
• Both.

 ::)

sadly, you are only basing this on the fact that there is still 9 more months to go in a year, so there is a greater chance of something happening in longer period :D

Just start using bitcoin instead of just investing in it on top of a bubble, and you will see how incredibly usefull it is.
And once the conversion between fiat <-> btc gets more easy and faster more and more people will start realizing this.

I for example have an account at the same bank as my exchange. Money transfers bank account <-> exchange take between 5 and 60 minutes for me. With this setup i can work inernationally and get payments in no time.
Before btc i was basically limited to work locally (and still had to worry and keep track if the invoices get paid in time). Who wants to work for someone on the other end of the world without knowing if you will receive your payment? With btc it is easy as pie.

- show some work samples
- get a little advance
- start working
- show sample of finished work
- get paid submit your work and have money in your bank account within 1-2 hours

Another example would be any non physical item you purchase on internet like music downloads or whatever:
- send bitcoins  (no need to submit personal information or cc details)
- start downloading
- done

And hell, you ever wanted to grab some food and realized you got no cash at home because you (again ) were to lazy or forgot to stop at the next atm today? With btc i can just top up my mobile wallet from home if it is empty and am ready to fill my stomach.

bitcoin can actually make your life a lot easier, you just have to START USING it  ;)

first post is EXTREMELY stupid.

BTC will be banned in China as of April 15. We will then see BTC price go way below 100$.
So I am consedring getting into Ripple. They are have been opening a lot of gateways in china lately.
Also ripple is backed by google. What do you guys think???

Ah, when I see posts like these it makes me even more confident that it's very near time to be buying like crazy.

John Templeton - Principle of Maxim Pessimism

Given the coming financial crises involving both the euro and the dollar, that's a very smart call.

What you should know about the dollar and it's current exchange value (https://www.youtube.com/watch?v=dQdmsL147j0) (click me).

I think Bitcoin will not dip below $200 again in your lifetime, and you are panicking for no good reason.

Would you like to enter into a bet about whether bitcoin price will dip below $100 in April?

Everything in life starts out as a small bubble even myspace and facebook.  Its how the bubble forms it what affects if it pops or just goes down slowly only to blow up bigger and stronger.

Where did this come from?   ;D  I have used Bitcoin plenty.  I started with Bitcoin.  That's how I know first hand, there are better, faster and more versatile options for my needs.

It is a bit harsh to talk about victimization. There are only victims of greed and irresponsibility.

You're asking how could somebody buy bitcoin for 1200$ ? Obviously the buyer was hoping the price will go up and he/she will  make profit at the expense of the seller.

So In a way if you sell your bitcoins for 1k and they would double in value you can make a same post about how you've been victimized ....

How much does one get PAID to write such stuff? Seriously.

Now on to the notion that anyone lost money. It is this kind of thinking that is seriously wrong with people in general these days and the OP is using this same mentality as propaganda. It's like when the housing bubble collapsed and people complained they "lost money". You only lose money when you sell. Otherwise, you need to think of it as, "I bought a house and I own 100% of that house. The value has dropped slightly but I still own 100% of that house." Housing prices are going back up and anyone who stayed in their home is now that much closer to paying off their original mortgage, which should have been the intent of every home buyer. Everyone else who bankrupted or walked away from their mortgages has to deal with the consequences now but they want to blame others for them buying something they could not afford in the first place.

Ahh, but that's it. They bought a home they could not afford but justified it by thinking the price was going to continue going up and they would be handsomely rewarded for their gamble. When it didn't work out that way, and they got to the point where they could no longer afford to make the payments, they blamed everyone else. They did the same thing with Bitcoin. These same types of people spent dollars they could not afford to lose then blamed everyone else when their gamble didn't pay off. If you bought at $1,200 and are still hodling then you likely bought them as an investment and I need to point out to you that at this point you have lost NOTHING. You still own the same number of bitcoins you had when you started. Now if everyone in the world stops using Bitcoin, then I'd say you lost money. Until then, keep calm and hodl on.

Was going to post the same thing.

Wizard.

OP is clearly a troll. Although news on CNN with "experts" are making the same points. So are those knowitall news anchors with their experts trolls too? Or they are just ignorant?

Lol, dude. How about putting the banking cartel behind bars who hurt pretty much everyone with their stupid inflation.

If you're on Bitcointalk, you should know the answer to this already.

I'll give you a hint, it's the opposite of knowledgeable.    ;)

From what I've seen from the media, they may make mistakes like assuming "Gox is Bitcoin" but from an economics standpoint, most of the ones I've heard speak about Bitcoin, are far more knowledgeable than most people on this forum.  Seems if you watch a couple of conspiracy theory videos on the Federal reserve and shout "to the moon", you're some how an expert in currency, monetary systems and economics.  

They also have the advantage of not living in a Bitcoin "bubble", where anything contradictory to the zealot rantings, is merely dismissed as hating or ignorance.  Bitcoin is not rocket science and many of the critiques about Bitcoin are extremely valid.  Bitcoin still has a lot to prove.  There is nothing guaranteed about a digital, deflationary currency's prospects of success.

Is bitcoin value (not necessarily price, although many seem to use that) higher or lower than when it began? Has the average value continually increased? Are there more people/businesses using bitcoin?
/end thread

You would've thought the CEO of BitCom offed himself, Gox stole all the Dogecoins, and Karpales took a dump in the ocean with all these reactionary sheep.

Think for yourselves for once, don't believe everything that comes out of media, government, and financial institutions as complete truths.

Remember these so called people in charge bailed out those corrupt bastards on Wall St.

These so called people in charge have a trillion dollar deficit, and basically your kids kids are screwed royally.  Retirement at 80 baby!

Not saying to break any laws, but do some research for yourself, and don't believe the talking heads on the TV screen.

Warren Buffett, hahaha.  Great Billionaire investor, doesn't even know how to use a PC.  Even the great dinosaurs went extinct...

I can say I am 40+ and have been around since 2400 baud modems and 15 years ago which would have been 1999 the internet was NOT "basically this" as you say, as a matter of fact the Internet was graphical in late 1994 and maybe 1993 from what I recall...Win 3.1 was out and I had sites I was designing from 1994-1999 using basically text until tools came along...their was no WYSIWYG tools for making websites and everything was coded and took time.

Sites may not have been flashy or anything but their was alot of animations and <blink> tags being used and "Web Rings" but in no way was the internet all command line based and that my friend was more like 1993 and before so perhaps you need to do some research before commenting that because you do not have your facts straight, you are correct that Skype, Twitter and Facebook didn't exist however even in 1994 CU-See-me existed for videoconferencing and reflectors were all over and I know for fact because I was there...not sure where you were?

Any doubts about video conferencing before 1999 when you claim everything was command line? https://en.wikipedia.org/wiki/CU-SeeMe

Any doubts the Internet was not graphical before 1999? https://web.archive.org/

As for Altavista, your right it was the #1 search engine back then BUT it came out in 1995 and guess what? It wasn't command line based at all and could be used through the Netscape browser and better yet heres a list of browser release dates and by 1999 IE the shit browser was already at V5.0 https://en.wikipedia.org/wiki/List_of_web_browsers

Its one thing to comment on another's knowledge of the Internet and how things were "back when I was young" but make sure you have your facts straight because others have indeed been using the Internet since before it was graphical and did use Usenet and BBS' and it was way before 1999 or before your 15 years ago when you claim the "Internet was basically this"....it basically wasn't like that and I know for fact as I was designing sites before 1999, doing video chats using Cu-see-me and using IRC clients well before 1999 and not through command prompt.

I recall using modems in the 80's using a phone placed on a cradle basically like you see in the movie "War Games" to login to BBS' so my knowledge of the Internet and time frames is clear and what I know about 1999 and what you know is quite different, I have receipts showing me paying over $10k per month for bandwidth to host a pay site with over 10000 members and if you doubt that I can provide evidence to any mod here :-)

Oh, and the people visiting my site in 1999 were not using command line or dial up, site back then ran UBB forums and around 2000-2001 switched to Vbulletin and the server at the time if I recall were running 800 MHz dual processors with maybe 256 or 512 mb of ram and commercial servers like that would cost 7-10k at the end of the 90's ;-)

My version of 1999 seems quite a bit different that your mention of it being like Usenet, you need to study this all a bit more next time.

Also note by 1999 Usenet could easily be used with multiple clients that had a gui, command line would have been a waste of time for downloading series or rar's or par's etc...why bother when graphical clients existed.

china is the bubble not bitcoin.

China actually produces shit.  More like the dollar is the bubble

Yes a fool and his money are soon parted.

And it will always be that way.

Trading can be really hard.
The 2011/2012 Bear market took over a year to get moving back up again.
However, some of the (short-term) rallies were big and fast, and there was plenty of chances to make good trades.
Things will get better.

@OP:

The price function is behaving exactly as expected.

The graph below is plotted on a log scale, although I'm thinking that may be too difficult for you to understand  ???

So in short: relax, just keep sipping the kool-aid kiddo.  ;)

http://www.game4coins.com/btc/ta_log.png

Hi mate quite good graph,
would you create another one with additional data from mtgox from 2010 to Nov 2011?
This may give us much more view form beginning till today
thanks

I never understood why China dumps their bitcoins when news of bitcoins being banned hits. If China banks ban buying bitcoins with fiat doesn't that mean the bitcoins they're

holding become more valuable and therefore more reason not to dump?

They don't have my derp coins, does that make them priceless?

Good point about 'investors' blaming everyone else for their lack of research. On bitcoin though I notice very few complainers from bitcoin investors. Most of the complaints seem to come from those that have hated bitcoin from the get go. I suspect many of these just regret that they didn't get in when they first heard about it and so are continuing to justify their position.

The whole concept of buy low/sell high is doing just that. But 'dumb money' tends to high on the trend (high by the time they here of it) and panic on the first correction. Thus because they did not actual research they have no confidence and end up buying high and selling low. They blaming everyone else for their loses.

But if it weren't for those fool hearty (greedy and lazy) souls the rest of us would make a lot less money.

OP, just wait until a website like amazon accepts bitcoin... or something even more unbelievable like the USD failing happens. Then you'll be eating your words again.

Bear markets are what shorting was invented for. Research, foresight and understanding (work) is what makes the difference. The market condition itself is irrelevant.

If anyone thinks bitcoin will be "banned" then selling them is stupid because they will be harder to get a hold of. If they are harder to acquire then the ones you have are more

valuable

Bitcoin is still evolving & growing. We haven't hit mainstream yet, however the infrastructure is being build as we speak. It's normal to see such fluctuations taking place, until we hit mainstream. Which doesn't mean we wont see any price fluctuations taking place either (when gone mainstream), but much less until it starts leveling out with a gradual upward trajectory. Wait and see and enjoy the ride  ;)

Is this pure greed or stupidity?
What you call "pure greed" is also responsible for many of mankind's greatest advancements. Honest people acting with a profit motive can do many amazing things.  :)
Bitcoin is alive and getting stronger, that is what is "going on here".

Exactly. Just imagine if someone hadn't of had the audacity to suggest the world wasn't flat, or that the sun didn't revolve around the earth!