Bitcoin Forum

Ok so the price is now falling again.

We'll hit $200 in the next week.

Get the f*** out of bitcon or you'll go broke soon!

Welcome to the board. Fuck off.

aaannnnnnnndd... ignored

LOL daaaamn you guys can be brutal  ;D

LOL, at least he posted in the right category.

Hey fallllling. The fact that you don't know the correct number of o's in the word "lose" pretty much gives you away every time. But you keep trying eh, persistent little fucker.

Bring back the orange ignore button. It will save me some time.

Because you said it...it will not happen. Lol

Well, falling has been right since 680 all the way down. Let's hope he is wrong this time...

Same. Another paid bear.

https://www.youtube.com/watch?v=EM1RXZGWiqo#t=02m04s

Hahaha. agreed!

Does anyone seriously expect a bubble until consumer adoption is cheap and easy?

People can now buy bitcoins at Circle.com with a credit card in seconds without verifications or unnecessary waiting.

The question is: why would the average joe buy bitcoin in the first place? what is he gonna do with it?

Since we are talking about mainstream (so buying drugs on the Deep Web is out of question), why would  he use bitcoin instead of a credit card when he can lose 20%-50% or more of money like it happened all through this year?

Seriously, if not for trading profits (the average joe doesn't trade or short for fuck's sake), buying drugs or intellectually masturbating himself about the decentralized nature of the technology, why?

I'm not talking about the future potential of bitcoin or the blockchain, we are talking about adoption, the utility RIGHT NOW for bitcoin to be adopted by the average joe. why would he adopt bitcoin?

The last few bubbles happened when bitcoin was far more difficult to obtain. When the price starts to climb again a mania will follow.

It's seriously time to bring back noob jail but increase it to 6 months to post and a year to start threads.

where do I vote for that. I'd say, make it impossible to post if you have less than 1 posts, that would fix it.

Let's start a poll.

Actually it would be better if Adam started a poll in his Wall Observer thread so Blitz doesn't move it to Meta.

LOLed hard

While at it could someone remind me the reasons why previous newbie restrictions have been removed?

Simple. If it wont bubble again until consumer adoption then obviously the trolls (or whatever you call the people predicting a price decline) will have to be right every now and then.

Yes, but that was due to widespread media coverage. By now pretty much everyone who could invest in BTC knows about it. Its about consumer adoption now.
I mean, sure, basicly you couldnt rule out that the next bubble will be due to aliens buying it after the inter-galactic news network publishes an article about a "fantastic and innovative payment system developed by some ape-like beings on a boring planet on the edge of the milky way".

Yes, but that was due to widespread media coverage. By now pretty much everyone who could invest in BTC knows about it. Its about consumer adoption now.

[/quote]

false. totally utterly false. everyone who could invest already knows about it? there are millions of people who have never tried to get into btc because they didn't understand it, or didn't have the timing right. not everyone has the appetite for risk to get into a totally unknown brand new asset class they don't understand. eventually the people who wrote it off as a scam in the beginning will realize their error as well. of everyone in the world that i know personally, only 3 have bitcoin, including me, and only 20 or so have heard of it, 10 of them because i explained it to them. i know thousands of people personally who would get into bitcoin if it was easy to obtain and store, like it is now, and the trend reversed or volatility decreased. consumer adoption is needed, but that media coverage last year certainly didn't reach everyone. i doubt it reached half of the population. less than a tenth of a percent of the adult working population owns bitcoin. thats going to change.

Don't talk utter nonsense. Between 300,000 and roughly a million people use bitcoin and you think everyone who could invest in BTC knows about it?

When the price rises the next wave will come in just like every other time.

Ok, then which potential investor doesnt know about bitcoin?
Banks know about (and a couple have even written papers about it), governments know about it (and have written advisories), Wall Street and investors knows about it (and have invested quite a lot of money into startups around bitcoin). Who doesnt know about it?
Its about consumer adoption know (i know, i´m repeating myself here).

I suggest you go outside this echo chamber and venture into the real world. Bitcoin remains virtually unknown by the general public. Sure it has been on CNBC and hits the MSM when the price crashes or experiences insane volatility. But to the average joe it's benefits and use case are basically an unknown.

You keep repeating yourself that it is about consumer adoption. I am not sure why you say that when precisely none of the previous bubbles relied upon consumers adopting bitcoin to drive the price rises.

As to which investors do not know about bitcoin? The average investor still has no vehicle through which to invest in bitcoin in a tax efficient manner at all - yet. You think investors will send money to an unregulated exchange in Slovenia? I might. But that is not the average investor by any stretch of the imagination. People like to balance their risk and when bitcoin is accessible by the trillions of dollars in share portfolios it doesn't take much foresight to see the price will potentially leap upwards dramatically.

Consumer adoption will rise with bitcoin, especially as utility of the digital currency improves online. But it is not consumers adopting bitcoin which will move the price up from the relative lows it is experiencing now.

=D

Thats a pretty good thing actually. Means they also dont know about all the deficits. And thats there is time to improve it before its ready for wide adoption.

All of the previous bubbles have aligned with extended media coverage. At first just some crypto-related channels. Later on tech sites, e.g. slashdot and similiar. And even further on main-stream media.

And why would someone invest trillions into a technology that hasnt seen any significant user adoption?

I´m pretty sure that bitcoin will/would rise with consumer adoption, not the other way round. Why would a consumer, who wants to use it as a payment system or store of value, be interested in how much a single coin is worth? Thats just an arbitrary number. Thats like saying consumer adoption would be higher if Satoshi had decided to cap the maximum at 2.1M instead of 21M, because a bitcoin would be worth ten times as much now.

You missed the main thrust deliberately which is that consumers haven't driven bitcoin previously, nor will they drive the next price cycle.

Why would investors invest a tiny stake into a speculative position via their 401k or ISA? To realise potential spectacular gains. You also skipped over there being no current vehicle for a normal investor to hold bitcoin in a tax efficient way. Why would trillions be invested? it doesn't take trillions of course, simply a few tens of millions out of trillions to push us well past the previous ATH and start a new mania off.

The rest is just you trolling. Shame.

Right. Previous cycles were broader media coverage. People speculating that BTC could grow big (and that obviously means consumer adoption, what else?).

I think you should repeat that sentance.
In front of a mirror.

Because trolls were dying off, and it was feared by the secret troll-lovers that there would soon be none within the city walls. To replenish their numbers, the drawbridge was thus lowered at night, and the hoard of monsters from the wild funnelled into the acropolis.

You know what else works like that?

http://s29.postimg.org/4u3xnq1yv/Capture.jpg

None of the replies actually dispute the reasoning. Because you all believe it yourselves.

Right off out on the sauce.

Believe what?

Buwahahahah!  :D

use Mintpal
and you will not have any problems with the price and $
recommend))

Bingo.

There are many thoughtful respected bear posters including Legends and Heroes who are not trolls.

Obvious trolls are obvious though.

Just before I head out for the night. Jimbo, not sure you know but you made it onto the cnbc webpage :)

Thanks. I saw that. Someone pointed it out already in Adam's thread.

That post from last January was a reaction to the Karhu silliness that was popular at the time along with Proudhon's "confirmed" meme.

Like most things in Bitcoin, it took many months to reach the mainstream media.  :)

Average Joe will soon enter crypto world to save his own wealth. Big financial crysis is incoming. Bitcoin is better than gold, that's all I know and I'm holding!

Lol

Not broke yet and not worried

no sign of 200usd, how does it feel to always be wrong? ;)

Lets be clear, if someone posts correct advice doesnt matter how they present it.

When we're talking about money, sometimes it's important to be passionate!!!!!