Bitcoin Forum

Economy => Speculation => Topic started by: bennybong on June 23, 2016, 12:06:28 AM



Title: Let's face it
Post by: bennybong on June 23, 2016, 12:06:28 AM
It's time we stop denying and start accepting, enough of these posts saying, "What is happening to Bitcoin?" Let's face it guys because regardless of how you sugarcoat it, Bitcoin IS failing. The temporary rises and falls are nothing but the aftermath of the bubble, it will most likely NEVER rise above its previous peak like some of these delusional investors think. Bitcoin is now dominated by market manipulators and petty traders who feed of the scraps of these manipulators. There is absolutely no reason for the price to rise because after the supply halving because a currency's value depends ENTIRELY on the belief of its users and ULTIMATELY not the supply. It's time to face facts and accept what has been happening since the time the bubble "popped". Bitcoin has been rising and falling on a downward trend. Yes, the price rises but falls back to where it was and never beats the highest peak.

Bitcoin is a failure guys its time we face facts and stop being delusional.


Title: Re: Let's face it
Post by: talkingleaves on June 23, 2016, 12:08:38 AM
It's time we stop denying and start accepting, enough of these posts saying, "What is happening to Bitcoin?" Let's face it guys because regardless of how you sugarcoat it, Bitcoin IS failing. The temporary rises and falls are nothing but the aftermath of the bubble, it will most likely NEVER rise above its previous peak like some of these delusional investors think. Bitcoin is now dominated by market manipulators and petty traders who feed of the scraps of these manipulators. There is absolutely no reason for the price to rise because after the supply halving because a currency's value depends ENTIRELY on the belief of its users and ULTIMATELY not the supply. It's time to face facts and accept what has been happening since the time the bubble "popped". Bitcoin has been rising and falling on a downward trend. Yes, the price rises but falls back to where it was and never beats the highest peak.

Bitcoin is a failure guys its time we face facts and stop being delusional.


so you lost a bunch of money this week huh?


Title: Re: Let's face it
Post by: Fakhoury on June 23, 2016, 12:08:51 AM
Count of my ignore list has increased by +1


Title: Re: Let's face it
Post by: bitkilo on June 23, 2016, 12:12:01 AM
I think the OP is trying to say that we should all pull out and invest in Avatar coin, whatever the fuck that shitcoin is  ::)


Title: Re: Let's face it
Post by: bennybong on June 23, 2016, 12:27:13 AM
Quote
so you lost a bunch of money this week huh?

Nope, I've just been watching the markets from a neutral standpoint and I am not basing my opinions on emotion rather I'm simply basing them on logic.

Didn't know people get angry when you spoke the truth. The truth does hurt sometimes though.

No I am not trolling, stop making idiotic inferences.


Title: Re: Let's face it
Post by: talks_cheep on June 23, 2016, 12:38:32 AM
Yeah, I feel sad about those people who bought at 700+ just last week. Hang on a little bit, we will rise again in November/December this year.


Title: Re: Let's face it
Post by: robinH on June 23, 2016, 12:38:41 AM
Quote
so you lost a bunch of money this week huh?

Nope, I've just been watching the markets from a neutral standpoint and I am not basing my opinions on emotion rather I'm simply basing them on logic.

Didn't know people get angry when you spoke the truth. The truth does hurt sometimes though.

No I am not trolling, stop making idiotic inferences.


What logic? Pray tell? Even if the price crashes below $... How exactly has it failed?


Title: Re: Let's face it
Post by: jaredboice on June 23, 2016, 01:04:46 AM
Logic?  Bahahahahaha!  OK, sure  ::)

BTFD!  :D FTW and the Banks!  ;D


Title: Re: Let's face it
Post by: bennybong on June 23, 2016, 01:06:59 AM
Quote
so you lost a bunch of money this week huh?

Nope, I've just been watching the markets from a neutral standpoint and I am not basing my opinions on emotion rather I'm simply basing them on logic.

Didn't know people get angry when you spoke the truth. The truth does hurt sometimes though.

No I am not trolling, stop making idiotic inferences.


What logic? Pray tell? Even if the price crashes below $... How exactly has it failed?

That was clearly stated within my post.

The logic that the price of Bitcoin has been falling and rising since the last highest peak while not beating that highest point even once. A business, currency or country succeeds when it continually grows. Continual growth is what investors look for. Since Bitcoin has not met that standard it has essentially failed.

Also, Bitcoin behaves like any other bubble which has its peak point and then collapses never to rise above that peak point. Bubbles are never good investments even if they profit, because they are highly risky. Investors in their right minds fiat or otherwise would not invest in bubbles.

I'm sure that EXACTLY answers your question.


Title: Re: Let's face it
Post by: Sir_lagsalot on June 23, 2016, 01:12:44 AM
Just because bitcoin is dropping doesnt mean its' failing. There is a strong demand for bitcoin, for value and even for business. You can't say that PayPal has the same demand as Bitcoin.


Title: Re: Let's face it
Post by: bennybong on June 23, 2016, 01:19:03 AM
Just because bitcoin is dropping doesnt mean its' failing. There is a strong demand for bitcoin, for value and even for business. You can't say that PayPal has the same demand as Bitcoin.

Lol, PayPal is more used and has far more demand than Bitcoin.


Title: Re: Let's face it
Post by: bennybong on June 23, 2016, 01:21:19 AM
$578 now.
Just saying.


Title: Re: Let's face it
Post by: pacopico on June 23, 2016, 01:30:37 AM
$578 now.
Just saying.

Touching 550 right now  ;D


Title: Re: Let's face it
Post by: Alley on June 23, 2016, 01:32:27 AM
Is the price chart over the last couple days the only measure you're using to conclude it's failing?  What about hashrate and daily transactions over the last 2 years?   What about VC money over the last 2 years?


Title: Re: Let's face it
Post by: The Pharmacist on June 23, 2016, 01:33:48 AM
Nah.  Bitcoin is falling, yes, but this is just the remarkable volatility we've seen since its inception--nothing more, nothing less.  I definitely would not call this a failure.  Just up and down-ness.


Title: Re: Let's face it
Post by: jaredboice on June 23, 2016, 01:39:33 AM
Just because bitcoin is dropping doesnt mean its' failing. There is a strong demand for bitcoin, for value and even for business. You can't say that PayPal has the same demand as Bitcoin.

Lol, PayPal is more used and has far more demand than Bitcoin.


http://www.newsbtc.com/2015/12/18/bitcoin-to-overtake-paypal-and-established-financial-companies-in-transaction-volumes/ (http://www.newsbtc.com/2015/12/18/bitcoin-to-overtake-paypal-and-established-financial-companies-in-transaction-volumes/)

https://www.cryptocoinsnews.com/bitcoin-set-overtake-paypal-2014/ (https://www.cryptocoinsnews.com/bitcoin-set-overtake-paypal-2014/)

I wouldn't say FAR more demand


Title: Re: Let's face it
Post by: jhenfelipe on June 23, 2016, 01:58:35 AM
No one knows what will happen with the price of bitcoin. Maybe it falls today, but it can rise anytime. We can't just say that bitcoin fails because of price fall. Considering all the improvements of bitcoin including the acceptance of people and businesses, I can say that bitcoin is not a failure, it's indeed successful.


Title: Re: Let's face it
Post by: Shinpako09 on June 23, 2016, 02:38:07 AM
I dont think so, price is still at $500+ and thats a good amount. From 4digit price before into less than $200 and get up again. Price is at $500+ its so early to say btc is a failure.


Title: Re: Let's face it
Post by: Denker on June 23, 2016, 07:27:26 AM
OP is either in a bad mood 'cause he lost some money or he is just trolling for whatever reason.
After this correction we will have a higher bottom than the last one!That's a positive sign!
And it would be great if you do not just have price in mind.What about the fundamentals?
Bitcoin is going the right way!No reason to be pessimistic or freaking out.


Title: Re: Let's face it
Post by: pooya87 on June 23, 2016, 08:02:17 AM
... Bitcoin IS failing. ...

you are failing in your first comment.
how is bitcoin failing if it is still being used as a way to transfer money, payments,... and there is still a lot of services that are accepting bitcoin and new services that start doing it.
so how is bitcoin failing when we all can still send bitcoin to anybody in the world. bitcoin is meant to be a p2p cash afterall.

and about the price, all i can see is rising over time. when you look at a short time you should only see a short chance, but you have to look at the bigger picture here. all i see is rise from $1 in 2012 to $600 in 2016
and if you are looking for an always-rising-price then you are out of luck because there will always be bubbles and burs to come down again and the bubble size WILL decrease over time as the market gets bigger and panicy newbies are fewer.


Title: Re: Let's face it
Post by: m3g4tr0n on June 23, 2016, 08:12:19 AM
When I first heard of bitcoin, they were $1 each.



Right now, they are $590 each.



Just because it hit some inflated peak of over $1,000 between then and now, you think it's falling? Did the world of bitcoin begin at the bubble for you? That's literally the only way it could be perceived as a failure. Next time you look at a graph that shows the last 4 years, do me a favor, cover up the huge eyesore that is the $1,100 bubble, and tell me what you see.


Title: Re: Let's face it
Post by: NUFCrichard on June 23, 2016, 09:43:57 AM
If you are going to be in Bitcoin, you have to roll with the punches.
Ok it has gone down nearly $200 in the last few days, but it did go up $400 in the month before that!  I am happier with the price now that I was in April.

Idiots are always going to cheer when it falls, probably because they aren't holding.  Idiots are always going to cheer when the price rises, because they probably over-invested, just enjoy the ride, if you believe in Bitcoin, then buy some, if not, then don't! Pretty easy really!


Title: Re: Let's face it
Post by: bitmarket.net on June 23, 2016, 11:00:35 AM
Volumes traded on most of the exchanges are very high - that means there are buyers and sellers willing to trade bitcoins.

This is not a sign of the failed asset, no matter what its price is at the moment.


Title: Re: Let's face it
Post by: MatTheCat on June 23, 2016, 11:05:12 AM
Quote
so you lost a bunch of money this week huh?

Nope, I've just been watching the markets from a neutral standpoint and I am not basing my opinions on emotion rather I'm simply basing them on logic.

Didn't know people get angry when you spoke the truth. The truth does hurt sometimes though.

No I am not trolling, stop making idiotic inferences.


Bitcoin chart resembles practically all other Shitcoin chart that ever existed.

Huge pump, followed by a series of declining peaks, on the long (or not so long) road to dust and obscurity.