Bitcoin Forum

I've come to realize that Bitcoin is either for the rich or for poor people picking up the smallest of crumbs.  There seems to be very few people in the middle.  If this doesn't change... Bitcoin and cryptocurrency in general is doomed.

You came here thinking that it would be easy to get rich [1] and now that you understand you would have to work for it you blame bitcoin. If you have problems its noone elses fault, get your act together and pan them out [2].


[1] https://bitcointalk.org/index.php?topic=894940.0
[2] https://www.youtube.com/watch?v=K1LHMG__bws

I never thought I'd come here and get rich.  I thought I'd come here and learn more about cryptocurrency.  There is very little work to be had in the world of Bitcoin.  Sure, there are some very specialized fields where people are making money.  The average guy, not so much.  The disparity between the rich and poor with Bitcoin is by far greater than any fiat currency in existence.  It will not survive if this remains true.

You post like you do.


So, what changed?


What makes you say that?


Maybe, I dont know, do you have any stats to back your claim or do you just assume stuff?


Bitcoin is not the greate equalizier you think it is. Its a new form of money. Social imbalance is a social problem and should not be fixed by technical means, IMHO.

OP, then why are r coming here? It is for the bitcoin supporters. Don't you see the increasing number of merchants and users is involving bitcoin space?

I came here as a hopeful nerd that was interested in Bitcoin.  I read about it over the past few years like most people.  I saw it as somewhat of a novelty.  Then I figured, I would look further into it.  I thought it would be an exciting place with a lot of activity.  Maybe somewhat similar to what a lot of people experienced with eCommerce in the late 90's early 2000's.  This doesn't feel anything like that at all.  Not even in the slightest.

Maybe I'm not viewing it as what it really is.  I thought of it as a new currency backed by people that really want to change the world as we know it.  There is far less change involved than what I was expecting.  I'm not sure what the motivation is for the people currently dealing with Bitcoin.  My guess is that it's mainly rich people or people with income sources that don't care if they lose it.  I don't see the average person putting their retirement savings in Bitcoin.

That's a great question.  I think I came here feeling like this was the new gold rush.  Like those people that go to North Dakota to make insane amounts of money in the oil boom economy.  I thought the world of Bitcoin was somewhat similar.  Maybe the problem is less about Bitcoin and more about my perception.

The only similarity with the Gold Rush, is the wild west, no rules feeling people have. They scam and steal and think it's acceptable.

There are much gold to be found, you just have to dig deep through all the dirt to find it.

If you lucky, you strike the jackpot and you get rich. {Buying at the right time, investing in the right start up..etc. etc}

For the rest of us, it's digging and digging and digging... Hard work, pay off eventually.  ;)   

I fail to see why it is not for those in the middles. Makes no sense at all.
This the start, Bitcoin is going to get much bigger and those crumbs will be worth a fortune in the future.

Maybe you can try trading bitcoin: buy the dips, sell the rips - if you have some amount of bitcoin to start (even 0.05) are you are smart, then maybe that is the gold you are looking for. But in general, there is no free lunch, here and elsewhere. Or, maybe you are after the intellectual gold? In that case you go there (http://bitcoin.org/bitcoin.pdf) and read. It explain that bitcoin is a payment system, not a magical unicorn. And Mr. Nakamoto wasn't the king of the hippies.

Trading is bad advise. One needs patience, and not prone to be swayed by emotions.

Its better to invest them in lower paying but higher security investments, like Bitfinex swaps.

it's not easy to earn money & bitcoin isn't a bingo use it and get rich

I'm pretty sure most people here are in the middle. This doesn't make Bitcoin doomed. You have to work to earn Bitcoins, like you do with everything. It's not a "Get rich in 30 minutes"-thing.

I understand. Keep in mind that this board is public, that it does not represent the entire btc community (e.g. Amir Takir is not posting here AFAIK) and... as someone has in their signature:

It is dangerous to be right in matters where established men are wrong.

(its by Voltaire)

OP I see a little of what you're saying. It's money, after all.
I would tend to think that general adoption is slow because when it comes to thier money they don't really want to know. They want a UI that makes it impossible for them to get separated from thier coins, by accident or theft. You'll see more backed services like banks, handling it for you. IDK I've had security nightmares recently, it's easy to be cynical. Blockchain is the revolutionary thing, where btc ends up in the mix remains to be seen. There's some very smart money coming in, more all the time.

I went to the casino and saw that Roulette is only good for the rich. I saw a guy put all of his money on 12 and it hit. Now he is rich.

Roulette is doomed.

If you started using BTC just to get rich then I guess you missed that train long time ago mate .
It's not all about getting rich

The main problem with Bitcoin is that 99% of the community is focused on merchant integration. This means there are a growing number of places where holders of bitcoin can essentially dump their BTC onto the markets. This is what happens every time a customer checks out with Bitpay.

There needs to be a fundamental shift in the community's consciousness, and an awareness of what is happening. We need not only businesses to accept bitcoin, but also for them to give their employees the option of receiving their wage in bitcoin. This will slow down the influx in selling.

I am neither rich nor poor. I don't get why Bitcoin shouldn't be for me. Could you explain?

80 families have more than 50% of the wealth in the world today and the other 7 billion of us  are fighting for the "crumbs"


If that's not disparity I don't know what is lol

The smallest of crumbs nowadays could be worth a lot more in the future. There's always going to be people richer or poorer than you, equating that to 'Bitcoin is doooomed' doesn't make any sense.

Well, I have seen MANY of these families making a HUGE difference with charities and creating employment for thousands.

I live in a country, where the government steal from the rich and give to the poor. {They seem to forget, that those rich people, when they leave, will take the tax with them}

You cannot rape the rich, because they made a success in life. {Even if it was inherited} I come from a poor family and grind it out every day, and if it was not for the rich, I would have been out of a job.

Bitcoin is just the same, you will have the rich, you will have the poor, and you will have those, who try to exploit both.

Read the books "Rich Dad, Poor Dad" and "Why We want you to be rich" and you will get, why the rich people, give so much back to the poor. In short, if the middle class {the people, who pay most of the Tax} get eliminated, the rich has too carry ALL the tax burden, and they do not want that.

They now grow the middle class, to help them, carry the Tax burden of the world.  ;)

Perhaps the OP needs to spend more time at Bitcoin meetups and tradeshows instead of forums. The bitcoin ecosystem is exploding with innovation, startups, and venture capital and many businesses are hiring in this space if you are a developer.

Explain the term middle class. If i own 2 btc would that put me in that range? I agree with your point that early adopters probably can determine the direction of the market but we just have to accept the fact. There is nothing we can do.

What you're saying here very well may be true.  Behind the scenes maybe things are moving at a pace that I can't see from the internet.  From the things I see, that doesn't seem to be the case.  I'm surprised by how little development there is online.  I know there are big sites now accepting Bitcoin as a form of payment.  But, I'm surprised there isn't more online shopping focusing only on Bitcoin customers.  A lot of the ones that do, seem like scams.

When I started to get interested in Bitcoin I expected everything to be popping.  There would be cottage industries popping up all over to cater to Bitcoin customers.  I get the feeling that's really not the case.  I could be 100% wrong.  I admit that.  But, there isn't the free flow of money like there was in the past on the internet.  There seems to be something that's holding people back.  There doesn't seem to be enough commerce in the world of Bitcoin.  There needs to be more buying and selling.  You can't just have people investing in the currency and doing nothing with it.  If people were spending them, there would be more sites focusing only on Bitcoin customers.

I want people to understand I'm not saying anything bad about Bitcoin.  The idea of it is fantastic.  Anyone that has ever done business online knows just how valuable something like this has the potential to be.  But, it seems quite a ways off from what it could potentially be.

You're about 5 to 15 years to early.  Bitcoin is just a protocol at this point.  It's still in its infancy, and it really doesn't have the ease of use yet needed for the sort of growth you're talking about.  It's more like the state of eCommerce in the 1980's.


That would be a horrible idea for anybody , no matter how much money they have.

At this point, the amount of value that you hold in bitcoin should be less than the amount that you would fell devastated if you were to lose it.  It is still VERY high risk with complex security and huge volatility in exchange rate.

Bitcoin is less than 6 years old and from what I have seen development has been far more rapid than the internet. I don't understand why you assume that the development will be taking place on a forum and not within private start ups or collaboratively through github. You are suggesting there isn't rapid development but I am seeing the exact opposite by following various projects and following all the new startups spring forth which have harvested some of the greatest minds to work on fintech and Bitcoin.

Can you be specific as to what exactly are you comparing bitcoin too as far as development progress? You realize the internet took over 25 years before even starting to go somewhat mainstream, right ?

it is always easier to blame the other

People who were apart of the gold rush were trying to get rich...
You stated earlier that you were not here to get rich but rather to learn more about crypto currency.
Make up your mind!

The sad truth about bitcoin is the wannabe nerd coming in here thinking they're an expert in economy and telling bitcoiners why bitcoin will fail.... i mean after being "skeptical" (loosely used by idiots without visions) for years, they just get to learn about bitcoin now and .... boom.... " this is not gonna work"...insert their "intelligent thinking"


For fuck's sake, if OP is any where near being smart, he would have learned about bitcoin along time ago.


So many " i heard about bitcoin in 2009,2010 but never interested ... until now...." that i lose counts. What a load of BS, you're only interested now because the price is 1000x than it was in 2010 .... so your greedy part is taking over.

What joke you are , OP

Don't get so mad, he is either a troll feeding off of your anger or he's a 13 year old kid who thinks bitcoin is his chance to get rich quick.

You are so blatantly disrespectful it disgusts me,if you were intelligent you could of used some tact to go with your insult. He didn't curse towards you so their really isn't a reason to curse at him nor call him out of his name. We are all squirrels reaching for a nut and if you were to tell me you hold bitcoin with no interest in wealth what so ever I would say you were lying. So giving that,I think you aren't the right person to judge. To the poster,I disagree,the poor class knows nothing of bitcoin(Generally,nothing is absolute).

Bitcoin is more than just a currency you see,it is a new technology. Before bitcoin,who would of thought you could transfer a vast sum of money 10,000 miles away directly into someones pocket for 10 cents? No one,why?Because we are all brainwashed drones who grow up trusting the banks. I say this because we figure,this is just the best they can do. But we were wrong. Bitcoin showed us that we could transfer money for free,it is possible.

Anyway. I think the word doomed is a little rash. Bitcoin is the future.

It is anyones chance to get rich quick,bitcoin has already proved that within a snap of a finger you could invest 1000,and make 10,000.

Agreed, we need a dramatic increase in the number of people being paid in Bitcoins, then the economy will be truly unstoppable.

Exactly, OP is just mad he didn't get here at the right time and is now trying to down bitcoins future.

Respect is to be earned, not given. Dumb ass.

Maybe because i can smell BS that you dont? Most of the dumbasses like OP always start with " I've heard of bitcoin in 2009 but not interested...." Trying to make it sound like they're not here to be rich or basically just heard of bitcoin or does not want to admit they were haters all along since bitcoin's first bubble.

All the smart ppl that i know, read up about bitcoin right after they heard of it. They also dont jump in to speculate btc price. As time goes by, they support bitcoins by TRADING their work for it, involved with ideas and development. This retard says hes a nerd (anyone call themselves nerds are just wannabe) but only look at btc price.... righhht

Im not going to argue with a bafoon such as yourself this isn't a debate,your attitude sucks.

That is your problem right there (same as my problem) bitcoin is not a currency. Digital decentralized currency has not been created yet. Bitcoin is a digital collectable it transfers value the way a baseball card or piece of art would not they way currency does.


 

Define currency then ....

LOL otherwise you're just another dumb ass ..... oh wait, you're sublime.... the famous bitcoin naysayer.

What is there to argue dumbass? Why do you think i would even argue with you? Your point sucks. and i dont give two shits about attitudes on here. Dont like it, dont get on the internet.

[/quote]
The disparity between the rich and poor with Bitcoin is by far greater than any fiat currency in existence.  It will not survive if this remains true.
[/quote]

Hmm, that air carries the sweet smell of opportunity.  Stop complaining and start offering some goods or services that the "rich" might wish to purchase and pay for with Bitcoin.

>

I find the hostility here simply amazing.  It truly defies description.  I somewhat looked into Bitcoin over the years.  The difference between now and then is that I now take it seriously.  I see that  this is far more than just a novelty.  I'm not sure that Bitcoin is the future of cryptocurrency.  But, I am sure there is a future for cryptocurrency.

My interest in Bitcoin isn't investing in it.  I wouldn't invest a single cent in it at this stage.  I think we probably pretty far from the bottom of the current slide.  My interest in Bitcoin is possibly to build an affiliate site.  A site where causal Bitcoin users look to do their shopping.  The people who see this as a novelty or just a bit more than that.  The people who are truly into the world of Bitcoin already know all the shopping opportunities out there.  Think portal site showing people where they can spend their Bitcoins.

I would never put my own money into Bitcoin.  The only way I would ever own Bitcoin is by earning them.  The risk is far too high to invest money into something that's going down the way Bitcoin is.

We see the stunt you are pulling here on this new account. Nice try. If you aren't interested in bitcoin as a speculative investment , fine, go off and build your affiliate site instead of disparaging bitcoin and spreading FUD.

If your true intentions are real, why have you not asked one question or made any posts in any of the pertinent sections of this forum that you claim to be interested in ... Development & Technical Discussion,Technical Support and Project Development?

This is why we are pissed, because you are clearly misrepresenting your intentions and spreading FUD.

It seems you are just some blackhat SEO and porn copyeditor coming to our community looking for a handout and getting bitter when you realize that you have to actually contribute and work to make a living and we won't just shower you with donations. The reason that you won't invest in BTC is because you have nothing to invest, you are begging for handouts and work. The sooner you stop complaining and actually get to work the sooner you will turn your life around.

I am not trying to be an asshole but merely giving some tough advice that you need to reflect upon.

I own a boatload of altcoins and I'm not rich. I own them because I can, and they are fun to play with. You can get free bitcoin at a 100 different faucets (an amount of some value you would have to actually work for GASP).

Whatever, what a stupid post.

+1 :)

a trolls work is never done ........

I have looked into OP's posts.
So, there is really a misconception here:
If you want BTC, you don't have to either work for it or invest huge sums into it. You can also buy Bitcoin with small amounts of money. Just go on an exchange(I am from Austria, I don't know, which one would be best for you, but you can just ask in here) and buy some Bitcoin. It doesn't matter if it is not a whole Bitcoin. There are just small fees on exchanges(I pay 0.35% for a trade). It is really not that hard to do it.
So, you can just get a regular job that pays in USD. If you have problems to find a regular job that pays in USD, than you most certainly won't find a job that pays you in Bitcoin.

Bitcoin is just another tulip mania  :) of course believers deny it  :)

Has anybody of you ever looked into the tulip mania or are you just repeating something you don't understand?
It is the same, as when people call Bitcoin a Ponzi and don't even understand what Ponzi means.
Please stop using words you don't understand.

The solution for people like that is easy. Put them on your ignore list, which is what I have done with that guy.

go away young Mike. Tulip mania as if.

negative
negative
negative always from you

So why are you hanging out on a btc forum with hundreds of posts to your name??

to the OP, I would say I am right in the middle, I am not rich or poor.  Do I have a lot of bitcoins?  No, but I am earning them anyway I can and I don't understand the point of hanging around forums criticizing people who like Bitcoins.

is this idiot really comparing flowers to bitcoin?

Edit:Sorry for calling you a idiot,I just feel as if you would have to be a little daft to compare a banana to a carrot.

The level of anger here is fantastic.  I've never understood why message boards attract angry people.  That's the one consistent thing about message boards.  Regardless of the topic, angry people flock to them.

I wouldn't invest anything right now in Bitcoin.  I would invest in businesses that people spend Bitcoin at.  I think Bitcoin has still quite a ways to go down.  At some point people will see they are a good deal.  Once they do they will invest in Bitcoin and some of those people will buy stuff.  That is my interest.

I wouldn't say that I was disparaging Bitcoin.  I was disparaging those who invested in Bitcoins themselves.  As we can clearly see it has not been a good investment this year.  Rich people threw a lot of money at them as some sort of get even richer scheme.  As the market hemorrhages these people, it's actually a good thing.  Only because the next generation of Bitcoin buyer will be people who actually want to use them as currency.  When people actually use Bitcoin instead of hoarding them... that's when the tide will change.

^ it's a way to anonymously vent to strangers.

a lot of people who are expecting to get-rich-quick come to these boards too. there's always someone complaining how they didn't become millionaires.

2014 a Bad year for BTC investment for what specific reason? The 2014 Average is 3x higher than the 2013 average. The market price right now as it is dropping is still almost 2x above the 2013 average.

Or are you sampling those that are impatient investors(possibly yourself) who want BTC to be some get rich scheme within 6 months?


False Dichotomy. I horde(Used to be called save and be praised), spend(and buy more when I do) , pay employees, and accept payments in BTC.


There are plenty of criticisms of BTC I could mention and have in my posts, but your sweeping generalizations are false and misguided. Be more specific.

Yes, BTC was been a horrible investment for those looking to invest and cashout within the last 6 month window(The market will punish these bad investors that don't follow the rule of buy low take profits high and never sell at a loss).... welcome to the early days of BTC , it is indeed volatile .... expect more of it in the next 8 years.

What business do you have that you pay employees in Bitcoins?  Surely you must have a site.

I own multiple sites and pay multiple employees in bitcoin, some directly and some as independent contractors as you are already familiar with from how you were introduced to BTC.

Just throw out there one site.  The one you're the most proud of.  I'm curious as to what you're doing.

Follow my post history and you can see why there is no way in hell I would ever jeopardize any of my businesses and employees well being by associating an account where I openly and honestly share my philosophical beliefs with the community which in many eyes is very controversial--- being that I am a crypto - anarchist/anarcho -cap. These bunsiness accept BTC but aren't directly related to bitcoin if you are curious.

dooooomed....doooooooooooomed i tell you

You are kidding right? All that matters to anyone that gets paid in bitcoin is the value of the bitcoin at the time they were paid and the value of bitcoin now (or when they exchanged it for fiat or goods if they have already done so). Someone that is trying to make a living is not going to care about any kind of average

Soon new dump  :)

False Dichotomy as I get payments in multiple forms of fiat and BTC thus I can always leverage BTc's volatility to make any purchase I make cheaper.

Anyone that gets paid in 100% BTC should instantly convert some of their salary into a more stable currency.

Bitcoin isn't perfect and one should leverage its strengths to ones advantage. I.E.... I just made a multiple holiday purchases at amazon for 15 % discount with BTC with Purse.io and those coins were purchased @ 110 usd so my discount was much greater.


Obviously, if you are scraping by and living paycheck to paycheck you don't have this flexibility and thus should start saving to empower oneself.

and how will you feel if those 110usd btc's you spent  are worth 10,000usd in a year ? many early adopters and miners  sold tens of  thousands of btc when it hit such milestones as 1 or even 10 usd etc

the network is still being built and strengthed ,nobody knows how much a btc will be worth in x amount of years but i have an optimistic feeling about this technology

I usually buy back when I purchase things, so am constantly saving, thus If BTC never goes up in value I am only getting a 15% discount.

I plan on selling my fiat for bitcoin even if BTC is 10k a bitcoin. To me it isn't about the money so much as the ethical principle of not wanting to support war, torture, and human rights abuses by using Fiat.

middle class has been sucked up by the altcoin scams

That's one of thounsand sad news about bitcoin.

I've ever got scam about .1 because holding of it.

For now I'm out from altcoin world

I never looked at lie coin as a scam but you know what now that i think of it...that makes a lot of sense...

yes man agreed

I think you mean working class are being steered away from btc by richer and more powerful hands  who will end up controlling more of it in the future... Just like every other commodity in the world ;)

Its only been a year of sliding prices and there's so much doom and gloom. Can people honestly not wait a few years to see how things pan out?

Bitcoin has been a high risk 'investment' from the start. Those who have bought coins in the hope of profiting will have seen the following advice repeated all over the place:

1) Don't invest more than you are willing to lose

2) Buy and hold (unless you're a trader, in which case you should probably still have some coins safely offline for long term holding) - It will be volatile.


Now one of two outcomes will occur, over a suggested 5 year holding period:

1) Bitcoin fails (in this case I would imagine that blockchain technology will still be widespread with continuing development). You lose your investment, but at least you followed rule 1).

2) Bitcoin achieves a significant rate of adoption along with a higher market cap therefore translating to profit on your 'investment'. You have the option of dedicating some of your time to help realize this outcome if you wish (this would be encouraged).

If enough 'average joe' investors could be persuaded to see the logic in this, then perhaps the wealth distribution would be slightly more 'fair' so to speak.

The price of Bitcoin will drop to 30-50 USD within the next year.  Bitcoin is about to take another serious nose dive.

Would you care to make a wager on that?  :)
I would match any amount of Coins you put up that you're wrong, we can use a trusted escrow if you want to hold  it lol

Yeah, bitcoin is the gambling of new age.

Only the poors and super rich people play.

I have no Bitcoins to wager.  If I did, I would be cashing out right about now.  I think we are going to be seeing it in the 250 range maybe within 30 days.

It's all the freaking scam coins out there, they're tarnishing bitcoin. I knew they were bad news the moment they started rolling out,

NEW never seen before cottage industries concentrating on bitcoin:
ASIC manufacturers (billion dollar industry)
exchanges (multimillion dollar industry)
payment gateways (multimillion dollar industry)


online shops focusing on only bitcoins:
bitcoinshop, bitcoin store, namecheap, alpaca socks, bitcoincupcakes, to name just a few. but if you search out the bitcoin services websites, not only are they themselves bitoin concentrating services, but the companies they list are bitcoin concentrating services. so go check out coinmap.


lastly it is foolish to have a bricks and mortar business that has dozens of employee's that only accepts bitcoins. purely because in some towns there may be only 1 or 2 customers that use bitcoin. thus unsustainable to limit themselves to ONLY bitcoin.

what you have to truly realise is that there are over 100,000 businesses in the world accepting bitcoin in some form alongside FIAT. not 10, not 5 not just a dozen.. but over 100,000..... i was going to name more above but i got lazy when i wrote the 5th example store and thought it easier to just tell you there are 100,000 instead of listing them all.

as for the idea that getting people to spend bitcoin will increase merchant adoption. im sorry but if you have a grocery store in your town that you want to be bitcoin accepting.. spending your bitcoins on alpaca socks or computer parts wont convince your local grocer. YOU need to have a conversation with that local grocer, as thats more effective than spending your bitcoin elsewhere. after all there is no subscription fee's or large % fee per tx, so there is no loss to the business. even if he has just 1 customer a week (you) the grocer can still make the same profit.

when you add up all the employee's working at ASIC manufacturers, exchanges, bitcoinstores etc. then add on the sole traders and contractors, and add on the web designers and graphic designers, translators, advertisers, payment gateways, you will see that there are multiple thousands of people that work and get paid bitcoin.

lastly. please tell me what skills you have and i could probably think up a couple of examples of jobs you can do that pay you in bitcoin. so stop thinking the only way to get bitcoin is from mining ("bitcoin is only for the rich") or faucet raiding ("bitcoin is for the poor").

annd if you cant find an employer that pays in bitcoins, become your own employer

I was right.  It did happen a little faster than I thought.  I’m still new to Bitcoin.  In fact, I still don’t own any.  I’ve been watching the price of Bitcoin very closely for a few months.  I feel that I can accurately predict what the price of Bitcoin will be.  I don’t have any software or anything like that.  I don’t even read much about Bitcoin.  I watch the price flucuations and make my predictions based on them.

I’m not sure about my prediction in a year.  The problem is… so much can change between now and then.  I do think Bitcoin needs to be priced between 30-50 for it to be healthy.

I’m not ready to say where I think Bitcoin will be in the next month.  I certainly wouldn’t be holding onto Bitcoins as an investment.  I’d only have some to buy stuff with them. 

Don't think it was that hard to foretell.  The trend has been consistently downwards over majority of the past year.  No giant positive news and several top exchanges get hacked or close up shop.  The question is...where is the bottom, and who is willing to try and catch a falling sword?

Reminds me all too much of silver.  If bitcoin breaks 200 resistance, there could be a huge free fall ahead in a long bear market.

Not all of us.

Yes you are correct, the ones that gotr lucky and hit it big are soaking up the sun, the ones that are struggling now to secure thier investment are working hard. Its the same thing over and over here in the bitcoin community, Ill get rich and watch as you strugle, i wont offer tohelp, I wont give you aid unless the advice I can give you will benefit me in the end. Nothing is free in life and in bitcoins its even worse, they will charge you for hat you need then make a referral bonus from everything you do they advised you to do. We have a but ton of hacking morons destroying our businesses, rich greedy assholes who never help anyone. Literally if you want to make it here, you will do it on your own. scraping the crumbs left behind by the fools with all the bitocins in their wallets acting like they are someone who deserves respect.

The bottom will be when we reach 30-50.  That is a sustainable price for Bitcoin.

I’m ready to make my prediction for the next month.  The price of Bitcoin will drop to 175 within roughly 30 days.

What happens after that, does it crash completely or stable off then slowly increase as time goes on?

Is it me or have these topics decreased in quality lately?

The poster didn't elaborate his position - but I guess he's meaning the latest entrants into the space is either the ultra-rich or just poor folks try to strike rich quick.

I guess it doesnt make any sense to mine btc's anymore from this point. Even with free electricity, its probably going to take too long to roi miner hardware costs.

People thought if they spend electricty or something has an actual value, with the mining difficulty constantly rising, btc should have been going only for one way: up. Guess what?

It failed.

This is actually a very good question.  It made me think for a bit.  We will know when the price of Bitcoin becomes stable.  When there is very little fluctuation in price.  That is when we know we’ve hit the bottom.  I believe this will happen at around 30-50.  I think an argument could be made that it will happen once the price is around 1-10.

This is not the time to invest in Bitcoin.  Some people maybe able to make money off the swings in price.  But, that’s too risky for most people.  I would advise people to continue to use Bitcoin.  Just don’t hold onto them.  The best thing for the future of Bitcoin is to spend them right away.

I disagree but I understand what makes you say that - The large majority of bitcoin holders are not in the middle class.


But I think you have to remember that the middle class doesnt really exist anymore; everyone is either rich or poor; and bitcoin is just reflecting that (even less than the real world I would say)

I just smoked a marijuana cigar.
I feel much better now. I swear,these marijuana withdrawals make me doubt my judgement.

This is a good call,bitcoin is the future.

Anyway,uh.

Greed. That really describes it all,its the bitcoin game in a nutshell really.

What is Bitcoin going to go to as far as value goes?  I see it dropped below 200 now and it is getting scary!

scary for who exactly

maybe you could consult your translator for this answer

Agreed. It gets old "watching the clock". Just take the time and learn how Bitcoin the technology works during these slumps. There is far more to it than just an fiduciary instrument, and if you only see it that way then you are shortchanging yourself.



EDIT: Welcome to the forum NewBTCGuy. Every once in a while we get a newbie that gets it.

Maybe a marijuana cigar would change your mind

This kindda scary, bitcoin value really drop recently.
But I still having a faith on bitcoin


for us, bitcoin holder  :-\

Lol, why on earth would that make me change my mind?  I see it dropping under $100 by the end of the month.  I might buy at that time, I haven't decided.

I’ve predicted it would drop to between 30-50 this year.  It all seems in kind of a freefall right now.  The important thing to understand is that we’ve already seen the highs for this year.  The year will end significantly lower than it started.

You post pathetic posts all the time.
Bet uour on btc to pay your college education u couldnt afford lol
So dumb
Your. Brain

180 now. That's a point where you can begin to see a proper plunge. If we see downward trends from here we might see 150 in the week which could be quite interesting in getting new adopters.

It take's work to earn bitcoins..

Next week it will be over 250. Not getting any lower. Watch.

@LordSonjai Did you know that by reading the tea-leaves in the bottom of the cup.  ;D
You are so clever  ;D

Well one can hope...

\


hahaha exactly.

it went from being worthless to 30 odd usd rapidly
and then plunged back to 2 usd
and eventually rose to 1200
im not worried ,its relaitively new technology ,it will take awhile to catch on

Quite true. Short term price will be bad, but we are discussing a long-term technology here. The best situation for me is that it became cheap enough to start a new entry point for normal folk. New blood to revive the markets, etc.

the ordinary people do not understand Bitcoin and that's why there are no newcomers. It is too complicated and useless for now.
The Bitcoin market is 1 MIL user. nothing more or less. it's TOO small and it will implode.

99% from market is trading. if 1 BTC = 10 USD is becoming unattractive for traders too.
More than that, alot of them already lost a lot of money because of this abrupt falling.

You can better "play" in a HYIP(ponzi scheme). at least, you have a chance to earn and you know what to expect in the end :)

They use it perfectly fine where I am. In shops. Buying stuff. We just need to see the traders move into the background more. As for ponzis...heh. Might as well throw your money into a river.

Those ponzis are just getting darn annoying.

That's fairly obvious any currecny takes work that is just how it works.

how did you call when you buy "air" for let's say... 600 usd and you sell it for 200 usd? :)

 money into...what? :)

Wine into water  ;)

Dont change the subject.  He is correct.  There is no bitcoin middle class. 

i think i am in the mid range class of btc
i am not a whale but i have a decent amount ,certaintly more than crumbs

if there is not a middle class, than I must be poor, since I am definitely not rich.

I agree,I was going to but in but to some people we may be rich,maybe not wealthy like the hiltons but to them we could be classed as rich so I just let that statement slide.

We just can't classify ourselves to either rich or poor, as either we may have even a few bits with us which newcomers may not have, so we may be considered as rich in this situation, and when we see some big players making it bigger, we feel the exact opposite, does it mean we are poor? Bitcoin is bitcoin, everyone's viewpoint is different and so, it should not be classified in any category...

Definition of rich, middle and poor really depends where you live, what is your country standard.
To be reach in Africa or USA is really not the same category.
But, some people consider not just material wealth, money but also family, happiness, health as important parts or requirements to be reach.
Think about this. 

You are right, of course, but I was just talking about wealth in the means of having money. I have no problems paying my bills and I pretty much have everything I (really) need. So, I am definitely not poor.
I don't own a car(could afford that) or a house(would have to take a credit). Don't own jewels or anything similar. If I would lose my job and wouldn't find another in a 2 years period, I would really be fucked. So, I am definitely not rich.
I have Bitcoin, but unless they raise a lot, like 10,000 percent. That wouldn't really change much about my situation.

Money is a terrible thing. Please investigate a resource based economy.

What does happiness have to do with social class it is completely irrelevant,subjective.