Bitcoin Forum

Phew.   So many misunderstandings in your post.

You don't seem to acknowledge the concept of "network effect".   The single most important element in why BTC will succeed.

You don't seem aware of the adoption rates, infrastructure developments, and innovation.   The other relevant factor.
 
You don't seem aware of the "hundreds of millions" being poured into BTC in 2014 via VC firms, and Wall Street.

The official trading platforms, ETF applications, and the fact that IRS rulings are always a little "off" when they first come out, and are modified by the IRS themselves, routinely as time goes on.

Honestly I feel like this is so obvious, im not sure why I'm typing it.

I realize you lost your money, but don't translate that into pooping on the parade.

-B-

Phew.   So many misunderstandings in your post.

You don't seem to acknowledge the concept of "network effect".   The single most important element in why BTC will succeed.

You don't seem aware of the adoption rates, infrastructure developments, and innovation.   The other relevant factor.
 
You don't seem aware of the "hundreds of millions" being poured into BTC in 2014 via VC firms, and Wall Street.

The official trading platforms, ETF applications, and the fact that IRS rulings are always a little "off" when they first come out, and are modified by the IRS themselves, routinely as time goes on.

Honestly I feel like this is so obvious, im not sure why I'm typing it.

I realize you lost your money, but don't translate that into pooping on the parade.

-B-

Face reality.

You can buy almost anything you want with BTC now(might have to convert to Gyft for some things).

I can't argue against this, rape away sir!

The problem is THE BANKS, THEY CRASH ... in summer !

OK, so :

1) https://blockchain.info/fr/charts/difficulty?timespan=180days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

2) https://blockchain.info/fr/pools?timespan=4days


And then, you ... you think that it's game over ?
The problem is THE BANKS, THEY CRASH ... in summer !

http://cdn.theatlantic.com/static/mt/assets/business/Bane2.jpg

Wait, isn't this what we were saying after the april bubble? ???

Another boring post

I confess to have failed to read beyond a few sentences but I think the premise may be correct. The price is so relatively high that to move the market a lot someone needs to be able to deposit very large sums into bitstamp. This comes with logistical and counterparty risks and someone with that much money probably would avoid that avenue all together. This is why the big money has gone elsewhere into startups and venture funds and not into the exchanges which have proven time and time again to be untrustworthy. In other words: HODL.

This was actually kind of beautiful, it was a vaguely coherent verbal vomit tour de force of practically all the FUD and myths out there.

This was actually kind of beautiful, it was a vaguely coherent verbal vomit tour de force of practically all the FUD and myths out there, with a serving of anecdotes about a personal lack of judgement applied as though they were universal law.

So you say we should sell now? Looks like you have a good heart and you want to help us! Thank you! I panic sell now.

It's threads like these that make me confident that the bottom is in or will be in very soon and it's time to start looking up again. After the 2011 top it took 4.5 months to reach the bottom, and after April 2013 it took only 3 months. So it seems likely we're very close now 4 months after the December top. :)

http://data3.whicdn.com/images/29411959/large.gif

This thread is boring. You're boring.

Face reality.
At this point, can anyone really say there is something that will catapult Bitcoin straight up like happened months ago?

Just explained on another thread: bitcoin is finite. If some bitcoins will disappear from the market (like China will ban it, and the "chinese" bitcoins will "disappear" from the market), then bitcoin is going to get even more rare. The maximum total of 21.000.000 is already unrealistic anyway, because probably hundreds of thousands of bitcoins are lost already in wallets which can never be recovered... so if more bitcoins disappear, it will become even more rare.

And the rarest something is, the more valuable it gets. So don't worry guys, and don't fall for all the FUD: bitcoin will rise to a lot more than it ever was.

not sure why you're posting this - upset, or troll, or whatever...you're not going to make up my mind for me, and i don't care to change yours - it's a choice, not an obligation, to be involved, and on what terms - you make your choice, i'll make mine...

whatever happens... as jeff garzik says, it's an experiment... and that's part of the fun for me, seeing where it goes.

Face reality. Or don't, idk your choice. This is kinda long. Why not. Fun is spelled F U N.

Perma-bulls can be annoying creatures. They belittle and slander anyone who forms an opinion different from their own whilst they hope somebody else props up the price so they can cash out later. I've seen many a posts these people will be buying if btc ever reaches xyz dollars, well here it is on clearance with a 60% discount and its crickets.

Don't get me wrong, it was a great social experiment when mining was decentralized, but now that ASIC's control the market, the price and difficulty are turn-offs to newcomers. Greed drove the market up. Now greed is driving it back down, but this time I expect a longer capitulation cycle before next ATH, if ever.

America is not the world - take a wider look

If poor people only use BTC back and forth between each other it would be wonderful, but that isn't going to happen for a long long long time, 10s of years later maybe, MAYBE people will all be tech savvy. MAYBE. But BTC doesn't solve any problems for the majority of people and you know it.

Quote where I said "America".

And isn't it great I can quote myself?

Bank runs in China, Europe and the US ?
It has already started.

If you use the US dollar as reference for the value of Bitcoin and then claim it has peaked ! The burden is on you to prove it as all odds are against you. And this includes adressing more aspects than who voted for whom in some theater. Money as debt being one of them and how this will continue for ever long ! The trend in Europe of seizing money in peoples account for example. The dwindling value of the US dollar for the past 80 years versus all kinds of benchmarks.

That you mention stock trading as some kind of an alternative and put forth your low % fee with credit cards is ridiculous.
Bitcoin will stay with or without you, so don't worry too much.

From a larger perspective, your reaction has been around for years in bitcoin world, "it has peaked !!!"
It peaked at 1$, definetly peaked at 32$ for a while.. peaked at 100 and then the almighty 1'200, that has to be the peak.

Good luck in your 'first' job !

Your whole damn post smells of an American point of view.
Some first job, talking about the merits of a credit card and the wonders of Obama being elected and how it means a whole lot.

Once the larger US retail market players get in the game, you could very well see large 'to the moon' spikes.

For example: Let's just say Walmart in a year or 2 from now elects to accept bitcoins because it has integrated the protocol into their POS systems, fixed all tax compliance issues.  Let's also suppose that the core Bitcoin devs have implemented a clever way to increase transaction thoroughput capabilities of the network.

Do you think that the price won't spike even a little?

The poor are already leaving the banks
http://www.theatlanticcities.com/jobs-and-economy/2013/09/why-poor-choose-go-without-bank-accounts/6783/

That they will use Bitcoin is open to debate but the traditional banks are not serving their interests sufficiently.

In the end on one really knows whats going on, but betting on some kind of continuation of the current fiat model seems risky.

Short term I don't really see it happening. By now you can already buy everything you ever wanted using the Gyft system, so I am not really bullish on something increasing sharply when you can already get almost anything at this point. I suppose Walmart would make it easier by not going through Gyft, but I believe Gyft gives you a 3% bonus, so then Gyft would be more beneficial than Walmart accepting it no?

Face reality. Or don't, idk your choice. This is kinda long. Why not. Fun is spelled F U N.

Look at all of the news in the past few months. The IRS classified Bitcoin as property(the judgement everyone was waiting for to see if it was legal or not officially) Check, its there now.

You can buy almost anything you want with BTC now(might have to convert to Gyft for some things).

Some countries have banned it some haven't.

China is basically going to ban it and cause a new price crash on April 15th(Or so I have heard and it really looks to be the case from my own research).

At this point, can anyone really say there is something that will catapult Bitcoin straight up like happened months ago?(no you can't and the comments below prove you can't even form sentences to this question). I will change my mind if someone really gives a good argument for a huge sharp rise in a short period. But I don't see one(comments below show no arguments yet).

Long term, another coin will beat it out, or something better will be invented. It's no secret mining is a completely stupid way of verifying a transaction because all that happens is that tons of computers/gpus/servers/rigs are guessing random numbers until they line up with what is needed. This eventually will cause a tremendous amount of energy waste(right now I am pretty sure all miners are losing money if they are converting into USD right away).

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX  inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

That being said, if you are one of these people who "put all of their life savings in BTC/Alt coins" I think it is time for a reality check(at least in the short term).

Oh but the Network effect you all scream like babies, tell that to MySpace rofl. Or AIM, or Yahoo, or any other person who held the network majority, its called competition(google it).

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

For reference, my friend put 3,000 bucks into stock at his company and bought in at 43 bucks per, had to hold for a lil while, then sold it at 60 bucks. Kinda wishing I never did this whole BTC thing, it helps people, but it's definitely a super minority of people this helps(for now). I agree it might help poorer countries, but "Ain't nobody got time for that" over there, they are like you know, farming and stealing to eat and survive. So #ya.


Edit 1: Let me also add, BTC it is not very user friendly for the majority of any population. You have to verify a bank account where your Fiat comes from and get a fee charged on you (but Bitcoin itself can have no fees I understand that) So you still have fees for now, so that doesn't exactly help. Fees need to be eliminated or driven down really really low, then you got a fee to withdraw into Fiat also. I understand you can just keep it in BTC, but heres the problem you run into. Say you have 1 BTC, you spend all of it, guess what? Time to pony up and pay more fees to get BTC, now you have to keep track of the flucuations of BTC according to the IRS ruling. Every time you buy or sell any coins for any reason ever, you have to keep track of it, no thanks rofl.

 If Obama can win a majority of a country of 300 million +  and get a second term based on ideas and no substance, how do you expect Bitcoin which is based on substance and some Ideology to win over morons? It won't. Also, the repubbies'cans say the same thing for the past 8 years, they presented their ideas and didn't win anything but the House. Might get Senate this time because Obama lies a lot and ppl get madzzz.


Edit 2: Personally, I incur 0% fees per year on my credit cards. All of them have no annual fee, no fees for bank transfers ever on my cards, no late payment fees ever for an unlimited amount of times, 1 and 2% cash back on everything(one of my cards is 1% but it is MasterCard I have to sometimes use), I get 5% cash back on purchases in the rotating 3 month categories(I  have 4 credit cards all linked to one b ank account, and whichever card has the 5% off of whatever I am buying I use that). So it becomes extremely wrong to advocate Bitcoin be used for rich/middle/lower middle class people. I only make 47,000 a year Salary, I am 24 years old, 2 years out of college and I am at my first "REAL" job, to tell me to use Bitcoin and get some fees converting from Fiat to BTC, then I spend the BTC, then guess what??? I need more BTC, lets incur more fees converting from Fiat to BTC. Don't you see BTC is really for poor people? If poor people only use BTC back and forth between each other it would be wonderful, but that isn't going to happen for a long long long time, 10s of years later maybe, MAYBE people will all be tech savvy. MAYBE. But BTC doesn't solve any problems for the majority of people and you know it.

Short term I don't really see it happening. By now you can already buy everything you ever wanted using the Gyft system, so I am not really bullish on something increasing sharply when you can already get almost anything at this point. I suppose Walmart would make it easier by not going through Gyft, but I believe Gyft gives you a 3% bonus, so then Gyft would be more beneficial than Walmart accepting it no?

Isn't it great that I can quote myself?

You would have been better off putting your 7 btc into cold wallet and the HODL  m8

The transactional economy will be dominated by boutique high value applications until software improves dramatically.  The next moonshot I foresee will be driven by opening new channels for fiat inflows driven by speculation and reserve applications.

Bitcoin cards are being developed, that was already a given...just when they'd start on it. Now that places like overstock, starbucks, and other retail outlets are accepting it, and the IRS classified it, and more people are looking into it, move investment is coming.

I posted elsewhere a few times about Google Glass being bundled with an app called EAZE payment processor (for the double nod transaction) in bitcoin. That millions will be buying Glass, millions are about to be introduced and reintroduced to bitcoin and will make consumer (as opposed to investor/trader) purchases of btc. Not once but increasingly as EAZE makes it convenient at POS - nod twice, it don't get much easier...if ya can't do that, you got bigger problems). EAZE is a bitcoin utility. And it's set up to work ONLY with bitcoin...so out of all the people who buy Glass, a hell of a chunk of them will be pushed to bitcoin. That's millions of initial purchases on to repeated purchases. Google appears to be a mega believer in cryptocurrency and bitcoin as the founding coin of this new market...and if Google's own products can support it, others will follow.

Look at the strategy behind it - Google agreed on this particular app for Glass that ONLY works with bitcoin - and not all the other options. Why JUST bitcoin? It's helping channel consumers one direction - away from fiat transactions and TO cryptocurrency. Sure, a lot of people will bitch because it's alien and novel, and complain they can't use real money or whatever...but eventually they will look into it (a delayed wave of new money, basically) when everyone else they know is talking about or using bitcoin. That's a huge push for btc. THIS year.

Since they're releasing the consumer version later this year, the value of bitcoin is set to rocket up. It looks like this china thing is keeping things on hold til the 15th or whenever, then it'll move down temporarily and right back up.

And again, a lot of the games being developed for Oculus Rift are tying in bitcoin...and since facebook acquired it, after the backlash settles down, even facebook will inevitably find a way to make bitcoin "social media friendly" and when that happens...well, you know...  8)

If you are actually promoting someone, than that's a big red flag for a lot of people here. It means that it's either 1) bullshit or 2) an alternative account of yours.

This was actually kind of beautiful, it was a vaguely coherent verbal vomit tour de force of practically all the FUD and myths out there, with a serving of anecdotes about a personal lack of judgement...

uh, i meant that my view is kind of inverse, or opposite to yours... i have no losses to report, so maybe that's why i'm more optimistic about the experiment generally...

Long term, another coin will beat it out

This forum is a bad place to post a bearish thread. It's all permabulls and they're going to come up with any argument just to slaughter you. It's like you're inside of a rodeo.

Bitcoin will have no more big "to the moon" rises anymore. Face reality 

hello? bitcoin is software what exactly are functions that cannot be adapted to bitcoin ? the most important thing to me is hashing and the proved resilience, security etc

There's nothing wrong with bearish threads, but there is something wrong about the attitude people have who make these kinds of threads. It's the arrogance behind stating a mere opinion as if they're facts and everyone who doesn't share the same opinion is a delusional bull who can't face reality. Also, history has shown us that similar threads like these have been posted in the past after the April top and also back in 2011, and look how they have made a fool out of themselves. Now who knows, maybe third time is the charm and Bitcoin will finally bite the dust for real and spiral down into a never ending downtrend until a new digital coin pops up that's actually much better. It could happen, but how likely do you think this is? If people posting these kinds of threads would show a bit more humility in their attitude I would actually start appreciating them a bit more. The same counts for bullish threads that show the same attitude by the way.

Bitcoin will never go to the moon again because we already did that. Mars is next, stupid OP.

Is that mean we'll not have any bubbles any more? Amazing news, man.

This forum is a bad place to post a bearish thread. It's all permabulls and they're going to come up with any argument just to slaughter you. It's like you're inside of a rodeo.

I do understand that, yeah. It does suck that people who believe in something never want to hear the other side of it, or don't want to understand what they believe in. Sometimes I feel like most of the people on this entire website are all about "OMFG ITS CRASHING SELL NOW AND GET BACK IN WHEN IT DIPS BY 20%" OR "OMFG BUY NOW ITS RISING, MOON MOON MOON OMFG ITS THE BEST MOON YOU EVER SAW, THE MOON IS SO BRIGHT TONIGHT AND FULL OMFG BEST MOON EVERRRRRRRRRR".


I post here though to see if someone really has a counter point to what I said, a few people made interesting notes, but when I look at how things are in the real world and other companies and take everything into consideration, I don't see BTC going much of anywhere.


Avg poor people will not use this, it is too complicated for them. People who don't trust BTC don't trust it because they didn't take the time to get to know it. Not many average people get into something where you need to learn all the terms, look up the history of it, how it was made, open source code, blah. People don't openly trust BTC right away. Giving anyone a 30 minute definition of something doesn't mean they will trust it, and if it takes too long to explain in my experience, people don't wanna hear it. There aren't as many smart people in this world as you might think, and a lot of presuppositions hold people back all the time.

This forum is a bad place to post a bearish thread. It's all permabulls and they're going to come up with any argument just to slaughter you. It's like you're inside of a rodeo.

hey iluvpie60 why do you still have a signature begging ppl to contribute btc to you then?

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX  inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

In reply to bolded part:

These "average poor people" need not worry their average minds.

Consider:

Back in the day only a few geeks had computers, you basically had to get out a soldering iron and build your own out of mail order kits or go without. Some enthusiasts offered prebuilt units, but still you had to be quite the nerd to actually do anything with them, there were no operating systems to speak of, just simple bios layer. Enthusiasts met at weekly local meetups (no internet then).

Everyone else said, these things are fun for geeks but nobody else, haha look at the geeks, those thing will never take off.

Now every dropkick carries a 1GHz processor in their pocket.

The same happened with the internet, first attempts were radio amateurs running packet radio systems at low baud rates and then bulletin boards ran by uber-geeks using phone system; other geeks would all post and read to their node like a simple forum. Then came the internet.

Bitcoin is in its early days, but follows the same exponential growth as other technogy, you've got to plot it on a log scale to see it:

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

When I look at BTC I see innovation. I see a technology that allows me to be my own bank instead of making crooked banks wealthier. Take a look at the top 6 profitable public companies in Canada:

1  Royal Bank of Canada    
2  Bank of Nova Scotia    
3  Toronto-Dominion Bank
4  Bank of Montreal    
5  Imperial Oil    
6  Canadian Imperial Bank of Congress    

     *source: http://en.wikipedia.org/wiki/List_of_largest_public_companies_in_Canada_by_profit

Notice that 5 of them are banks. I'm sure the pattern is similar for many other countries. It's not really surprising, given that they make money out of nothing basically. You mentioned that eventually the banks will take over BTC. They would have to buy them off of us to get them. Banks wouldn't be able to operate like they are right now using BTC unless they built an additional centralized layer on top of it. The blockchain is an open ledger that anyone can access, so they can't create endless BTC like they can do with fiat.

I realize that the days of throwing a few hundred dollars into BTC and becoming rich are over, but there's still a lot of room for growth and improvement.

hey iluvpie60 why do you still have a signature begging ppl to contribute btc to you then?

Before I take my time to write out an answer to your statement, I would like to know why you think that limited supply doesn't mean anything? Care to explain your thought in detail?

Yeah, you should change it to a paypal address. :D

You don't know who your BTC is going to when you are buying and selling on exchange. They can easily get the majority it from exchanges over time without telling anyone. The Bitcoin protocol can indeed be changed to create infinite Bitcoins if Gavin and the team choose to do so.

Me, being a Forecasting and Planning Analyst(actual job title) can tell you right now, the basic first rule of planning and forecasting is not to take historic data and say "this must be what will happen".

See, you aren't looking at all of the bad things going on lately, and you aren't taking in all of the factors.

You are just saying this is a tech thing, its gonna blow up, blah blah.

There isn't really anything that exists to make it easier to obtain BTC. Unless there is a direct point to using BTC for the average person, which there currently aren't many for, they won't care.

I am more than an average user when it comes to Tech stuff, growing up programming 3 hours a day for my "shop class" in high school. 3 hours a day * 5 days a week * school year days * 4 years is how much programming experience I had at a very young age. Believe you me, I know what I am talking about.

BTC isn't really going anywhere fast.

Face reality. Or don't, idk your choice. This is kinda long. Why not. Fun is spelled F U N.

Look at all of the news in the past few months. The IRS classified Bitcoin as property(the judgement everyone was waiting for to see if it was legal or not officially) Check, its there now.

You can buy almost anything you want with BTC now(might have to convert to Gyft for some things).

Some countries have banned it some haven't.

China is basically going to ban it and cause a new price crash on April 15th(Or so I have heard and it really looks to be the case from my own research).

At this point, can anyone really say there is something that will catapult Bitcoin straight up like happened months ago?(no you can't and the comments below prove you can't even form sentences to this question). I will change my mind if someone really gives a good argument for a huge sharp rise in a short period. But I don't see one(comments below show no arguments yet).

Long term, another coin will beat it out, or something better will be invented. It's no secret mining is a completely stupid way of verifying a transaction because all that happens is that tons of computers/gpus/servers/rigs are guessing random numbers until they line up with what is needed. This eventually will cause a tremendous amount of energy waste(right now I am pretty sure all miners are losing money if they are converting into USD right away).

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX  inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

That being said, if you are one of these people who "put all of their life savings in BTC/Alt coins" I think it is time for a reality check(at least in the short term).

Oh but the Network effect you all scream like babies, tell that to MySpace rofl. Or AIM, or Yahoo, or any other person who held the network majority, its called competition(google it).

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

For reference, my friend put 3,000 bucks into stock at his company and bought in at 43 bucks per, had to hold for a lil while, then sold it at 60 bucks. Kinda wishing I never did this whole BTC thing, it helps people, but it's definitely a super minority of people this helps(for now). I agree it might help poorer countries, but "Ain't nobody got time for that" over there, they are like you know, farming and stealing to eat and survive. So #ya.


Edit 1: Let me also add, BTC it is not very user friendly for the majority of any population. You have to verify a bank account where your Fiat comes from and get a fee charged on you (but Bitcoin itself can have no fees I understand that) So you still have fees for now, so that doesn't exactly help. Fees need to be eliminated or driven down really really low, then you got a fee to withdraw into Fiat also. I understand you can just keep it in BTC, but heres the problem you run into. Say you have 1 BTC, you spend all of it, guess what? Time to pony up and pay more fees to get BTC, now you have to keep track of the flucuations of BTC according to the IRS ruling. Every time you buy or sell any coins for any reason ever, you have to keep track of it, no thanks rofl.

 If Obama can win a majority of a country of 300 million +  and get a second term based on ideas and no substance, how do you expect Bitcoin which is based on substance and some Ideology to win over morons? It won't. Also, the repubbies'cans say the same thing for the past 8 years, they presented their ideas and didn't win anything but the House. Might get Senate this time because Obama lies a lot and ppl get madzzz.


Edit 2: Personally, I incur 0% fees per year on my credit cards. All of them have no annual fee, no fees for bank transfers ever on my cards, no late payment fees ever for an unlimited amount of times, 1 and 2% cash back on everything(one of my cards is 1% but it is MasterCard I have to sometimes use), I get 5% cash back on purchases in the rotating 3 month categories(I  have 4 credit cards all linked to one b ank account, and whichever card has the 5% off of whatever I am buying I use that). So it becomes extremely wrong to advocate Bitcoin be used for rich/middle/lower middle class people. I only make 47,000 a year Salary, I am 24 years old, 2 years out of college and I am at my first "REAL" job, to tell me to use Bitcoin and get some fees converting from Fiat to BTC, then I spend the BTC, then guess what??? I need more BTC, lets incur more fees converting from Fiat to BTC. Don't you see BTC is really for poor people? If poor people only use BTC back and forth between each other it would be wonderful, but that isn't going to happen for a long long long time, 10s of years later maybe, MAYBE people will all be tech savvy. MAYBE. But BTC doesn't solve any problems for the majority of people and you know it.


Edit 3: I really feel like that mining is a huge waste of electricity, think of if we didn't have to mine and have hardware that generated random numbers to complete a hash. What then? Do we really need something to continually guess at solving a hash and it takes time and massive amounts of equipment? I don't think we do. I just think we need enough connected computers to agree what something is, I feel it is very unnecessary to have servers/mining rigs chug out random guesses at solving a hash 24/7 for Bitcoin to work. That isn't efficient, and eventually it will all be controlled by someone with the highest bankroll who can keep buying new servers/quantum computing. The fact that organizations like Cex.io exist should really make anyone question what this is all about.

There are people making money, and the people making the most money are in the hardware side. Do you ever wonder why it seems like there are so many people making hardware? Why don't they use it for themselves and keep all the BTC they make? Because the return on investment is really risky, better to have a guaranteed return in US dollars or BTC by selling the hardware/services.

When you think of it all that way, you can see why I believe BTC will be dominated by companies and inevitable BANKS. BANKS and INSURANCE companies are the only establishments that would logically take on this kind of thing, and the only establishments who need to BUY it out. Why did Facebook buy Whatsapp and Pinterest? Less competition = better life for Facebook. It is what all Oligopolies want and crave Wink

Limited supply means something only IF it MEANS SOMETHING to others.

I got a used tissue I just blew my nose, and my load into. Very limited supply on that these days, most of them get thrown away! I am being an ass here lol. Couldn't resist.

Face reality. Or don't, idk your choice. This is kinda long. Why not. Fun is spelled F U N.

Look at all of the news in the past few months. The IRS classified Bitcoin as property(the judgement everyone was waiting for to see if it was legal or not officially) Check, its there now.

You can buy almost anything you want with BTC now(might have to convert to Gyft for some things).

Some countries have banned it some haven't.

China is basically going to ban it and cause a new price crash on April 15th(Or so I have heard and it really looks to be the case from my own research).

At this point, can anyone really say there is something that will catapult Bitcoin straight up like happened months ago?(no you can't and the comments below prove you can't even form sentences to this question). I will change my mind if someone really gives a good argument for a huge sharp rise in a short period. But I don't see one(comments below show no arguments yet).

Long term, another coin will beat it out, or something better will be invented. It's no secret mining is a completely stupid way of verifying a transaction because all that happens is that tons of computers/gpus/servers/rigs are guessing random numbers until they line up with what is needed. This eventually will cause a tremendous amount of energy waste(right now I am pretty sure all miners are losing money if they are converting into USD right away).

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX  inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

That being said, if you are one of these people who "put all of their life savings in BTC/Alt coins" I think it is time for a reality check(at least in the short term).

Oh but the Network effect you all scream like babies, tell that to MySpace rofl. Or AIM, or Yahoo, or any other person who held the network majority, its called competition(google it).

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

For reference, my friend put 3,000 bucks into stock at his company and bought in at 43 bucks per, had to hold for a lil while, then sold it at 60 bucks. Kinda wishing I never did this whole BTC thing, it helps people, but it's definitely a super minority of people this helps(for now). I agree it might help poorer countries, but "Ain't nobody got time for that" over there, they are like you know, farming and stealing to eat and survive. So #ya.


Edit 1: Let me also add, BTC it is not very user friendly for the majority of any population. You have to verify a bank account where your Fiat comes from and get a fee charged on you (but Bitcoin itself can have no fees I understand that) So you still have fees for now, so that doesn't exactly help. Fees need to be eliminated or driven down really really low, then you got a fee to withdraw into Fiat also. I understand you can just keep it in BTC, but heres the problem you run into. Say you have 1 BTC, you spend all of it, guess what? Time to pony up and pay more fees to get BTC, now you have to keep track of the flucuations of BTC according to the IRS ruling. Every time you buy or sell any coins for any reason ever, you have to keep track of it, no thanks rofl.

 If Obama can win a majority of a country of 300 million +  and get a second term based on ideas and no substance, how do you expect Bitcoin which is based on substance and some Ideology to win over morons? It won't. Also, the repubbies'cans say the same thing for the past 8 years, they presented their ideas and didn't win anything but the House. Might get Senate this time because Obama lies a lot and ppl get madzzz.


Edit 2: Personally, I incur 0% fees per year on my credit cards. All of them have no annual fee, no fees for bank transfers ever on my cards, no late payment fees ever for an unlimited amount of times, 1 and 2% cash back on everything(one of my cards is 1% but it is MasterCard I have to sometimes use), I get 5% cash back on purchases in the rotating 3 month categories(I  have 4 credit cards all linked to one b ank account, and whichever card has the 5% off of whatever I am buying I use that). So it becomes extremely wrong to advocate Bitcoin be used for rich/middle/lower middle class people. I only make 47,000 a year Salary, I am 24 years old, 2 years out of college and I am at my first "REAL" job, to tell me to use Bitcoin and get some fees converting from Fiat to BTC, then I spend the BTC, then guess what??? I need more BTC, lets incur more fees converting from Fiat to BTC. Don't you see BTC is really for poor people? If poor people only use BTC back and forth between each other it would be wonderful, but that isn't going to happen for a long long long time, 10s of years later maybe, MAYBE people will all be tech savvy. MAYBE. But BTC doesn't solve any problems for the majority of people and you know it.


Edit 3: I really feel like that mining is a huge waste of electricity, think of if we didn't have to mine and have hardware that generated random numbers to complete a hash. What then? Do we really need something to continually guess at solving a hash and it takes time and massive amounts of equipment? I don't think we do. I just think we need enough connected computers to agree what something is, I feel it is very unnecessary to have servers/mining rigs chug out random guesses at solving a hash 24/7 for Bitcoin to work. That isn't efficient, and eventually it will all be controlled by someone with the highest bankroll who can keep buying new servers/quantum computing. The fact that organizations like Cex.io exist should really make anyone question what this is all about.

There are people making money, and the people making the most money are in the hardware side. Do you ever wonder why it seems like there are so many people making hardware? Why don't they use it for themselves and keep all the BTC they make? Because the return on investment is really risky, better to have a guaranteed return in US dollars or BTC by selling the hardware/services.

When you think of it all that way, you can see why I believe BTC will be dominated by companies and inevitable BANKS. BANKS and INSURANCE companies are the only establishments that would logically take on this kind of thing, and the only establishments who need to BUY it out. Why did Facebook buy Whatsapp and Pinterest? Less competition = better life for Facebook. It is what all Oligopolies want and crave Wink

Fail.
Your post is not balanced.
If you rewrite with this in the first paragraph then it will be better and more people will read it:
Denmark has declared you can trade BTC and pay no taxes on the profits.


ps. You do not need to use bold or blue.  :D

I think Bitcoin may approach $1000 again this year, but I don't see it going any higher. It could just as easily go under $100 as well. If you are going to see a huge rise in a coin in 2014, it will be because either of two things happen. It may be that a digital currency that has been floated with an airdrop gets enough traction so people start converting their fiat to it in places like Iceland with Auroracoin, or in the Netherlands with Electronic Gulden. Or it may be that you will see other altcoins used for merchant transactions, I think Bitcoin is too slow for point of sale transactions, a few altcoins like Quark and maybe Zetacoin are not. If you are heavily invested in Bitcoin you might not like these scenarios but, it just means the advantages of Bitcoin may be better realized in other open source alternatives. Another thing to be wary of this year is of things like Ripple and Mastercoin imposing themselves in this space and getting friendly with corporations. If Apple lets a Mastercoin wallet app on their store after booting off Bitcoin you will know what I mean.

We are early adopters.. All that stuff can happen with insurers stepping up making the markets. Refunds instant transactions etc are all possible.

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

Yeah? Pics or it didn't happen.

#idiot

I think you, cosmofly, and fonzi should talk over beer at the Barking Bear, the trip will be provided by my early stash of HODL n' win coins.

The Barking Bear...isn't that the place with this huge suicide terrace on the top floor?

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

Despair.

Yet another sentiment data point indicating that we are near the bottom of this bubble collapse.

...

Fail.
Your post is not balanced.
If you rewrite with this in the first paragraph then it will be better and more people will read it:
Denmark has declared you can trade BTC and pay no taxes on the profits.


ps. You do not need to use bold or blue.  :D

sooo... you lost pretty much all your bitcoins by your own stupidity... and now you're in a frantic loop justifying why bitcoin will never go big again by spreading FUD?

Why on earth would anyone pay you to be a planning and forecasting analyst?

I think you, cosmofly, and fonzi should talk over beer at the Barking Bear, the trip will be provided by my early stash of HODL n' win coins.

Notice that the people spreading the most FUD are often the ones who jumped off the train early.

tl;dr

Despair.

Yet another sentiment data point indicating that we are near the bottom of this bubble collapse.

http://bitcoinne.ws/wp-content/uploads/2013/11/5Zo5uzt.gif

OP you're an obvious noob in this forum and in the bitcoin world. I was here long before you and all the oldfags know that Bitcoin already got to the moon. DONE. Now, let's speak about Mars.

I lost roughly 45% of my BTC due to Cex.io randomly putting Futures Options in. Which created a panic sell and I went from having aabout 7 BTC to like 3.6 or so. Then I transferred it all over to Just Dice, and accidentally held down the C key when I meant to hold down the X key. I bet there all the time for small amounts, X decreases the bet, C increases it. I am not in any frantic loop, if you actually take what I said and analyze the tone/mood of my words(which you obviously can't because you flunked 7th grade English/Grammar class, fucking idiot), then maybe you would understand.

Why do people pay me to be a Planning and Forecasting Analyst?? Gee three guesses and the first two don't count.

Not spreading FUD you fucking moron, you are saying I am, just because you say it doesn't make it so. Fuck off.

We are early adopters.. All that stuff can happen with insurers stepping up making the markets. Refunds instant transactions etc are all possible.

oooh them fighting words...  ::)

So you just reconfirmed to everyone that you lost all your coins because you're incompetent...
Doesn't that tell the rest of us that you are incompetent in other things as well... like forecasting analysis?

I'm sorry that you've been robbed of your coins and is no longer onboard... but that doesn't mean you should take it out on the world.

Face reality
Reality is for people who cannot handle Bitcoins.  :D

Why do I have to reconfirm something that I already confirmed to begin with... Are you retarded???

IDGAF if you wanna pretend you are sorry for anyone losing coins, its money dude, stuff like this happens. I personally couldn't care less. I only mention it so people know where I am coming from. I never said I was off board either, are you fucking dense? I support BTC you fucking idiot.

sooo... you lost your money not just once, but several times because of your bad judgment... and I'm the idiot for pointing that out?

 ;)

and don't want to hear any opinion unless it agrees with your own.

You're an idiot because you are trying to troll someone who is smarter than you in the sense of word play. Quit wasting your time, you aren't proving anything and you lack the tools to communicate effectively.

Losing my BTC is my own doing, if I didn't list it here you legit wouldn't have anything to say because you can't actually form an opinion on what is going to happen to BTC. So you focus on demeaning other people. That is like level 1 trolling dude. Get on my level.

We have heard your opinion, but we don't agree with it. Some of us have responded with valid counter-arguments I believe. You may deem us as delusional and unable to grasp reality, but some of our experiences with BTC greatly differ from yours.

easy there tiger... that nasty temper is going to lose you another 3k worth of investment yet.

 ;)
 ;)
 ;)

Since you seem to have trouble comprehending Tone and Mood. Let me Google that for you! A tool used by smart people to help dumb ass people like yourself ;)

http://lmgtfy.com/?q=Tone+and+Mood+sentence+structure

More like: You are too dumb, can't comprehend.

#idiot

you should really try to stay on topic, this is a speculation thread, not a I-lost-my-money-and-now-I'm-taking-it-out-on-the-world-thread.

I don't read garbage posted by hysterics who use hashtags.

tl;dr

And we have heard your opinion. So many bulls involved in something because they hope and wish it will succeed. Sorry for being the Mayor of Realville and you don't like it. People never want to hear good advice, and they always shoot the messenger. ALWAYS.

You're the one who keeps on about it, you should really stay on topic bub. This is a speculation thread, not a "Lets talk about how someone lost their money and bully them thread".

;)

Try not to let the delusional speculators get to you. Some people here think that BTC has to go either boom or bust. There is a middle ground with a positive, bullish long-term outlook, and that's where I currently stand.

What do you ever mean?

I merely pointed out that you lost money as a result of your incompetence, which in turn leads us to speculate that you may be incompetent in other areas, such as forecasting analysis. That is merely logical, I see no bullying there.

Are you sensitive?

You're kinda derailing your own thread here, buddy.

You obviously failed 7th grade English/Grammar class also. Please educate yourself on Tone/Moods of sentence structure.

Sigh, fucking idiots in here like usual.

Anger.

Negative sentiment prevails.

Bottoms are characterized by a lack of buyers. I cannot imagine a situation that would induce you to buy more bitcoins. Yet that, I believe, is the wisest course of action.

In the morning, when the store hosting my neighborhood Robocoin ATM opens, I will buy some more coin.

Bitcoin, January 2013 - $13    "Bitcoin is never going to rise above $15 you crazy people"

Bitcoin, April 2014 - $460      "Bitcoin is dead, give up"

Bitcoin, January 2015 - ????

There are still a lot of people with a lot of coins that were acquired when the price was well under a dollar.  If things continue, I'm sure many of them will be happy to cash out at even $5 (potentially profiting thousands of dollars in from a small initial investment in less than a year).  I think everybody should be prepared for things to get real ugly.  Honestly, I'm not even confident this project will survive a year as anything more than a tiny hobby with a market cap of a few million.  It looks to me like this ship is sinking, and I have a hard time imagining any well-funded investors foolish enough to jump on board at this point.

My favorite from 2011 . . .

A lot of words to say absolutely nothing.

"To the moon" is a joke which has no actual meaning. Is "the moon" $1000? $700? $10,000? $100,000?

If you're saying we need to "face reality" by acknowledging that bitcoin will never rise again, then you're saying its dead, which is just nonsense.

Anger.

Negative sentiment prevails.

Bottoms are characterized by a lack of buyers. I cannot imagine a situation that would induce you to buy more bitcoins. Yet that, I believe, is the wisest course of action.

In the morning, when the store hosting my neighborhood Robocoin ATM opens, I will buy some more coin.

Bitcoin, January 2013 - $13    "Bitcoin is never going to rise above $15 you crazy people"

Bitcoin, April 2014 - $460      "Bitcoin is dead, give up"

Bitcoin, January 2015 - ????

Cool contribution bro, contribute again.

Alright, I will assume you are an inteligent person. How many times have you legit been angry at something someone said on the internet? About .0000000001% of the time right? Guess what man, this isn't one of those times for me, and no one and I mean no one on these forums have ever made me angry. People here are way too lame to actually get me riled. Now I will respond with vulgarity when I believe I am speaking with someone who is actually better of 6 feet under. Since you still want to say I am exhibiting anger, I will once again call you wrong and claim you failed 7th grade English/Grammar class and I will add further; you have most likely failed all English/Grammar courses all through high school as well.

Nice random quoting that has nothing to do with the topic....

You can't use bitcoin on Amazon or Ebay.  

http://www.gyft.com/merchants/amazon-com/

It has. History repeats. Posts like yours just demonstrate that we already hit the bottom of the last bubble ($400ish) and that the way down is limited.

Those who bought at the near-top without a clear vision on fundamentals usually get over sentimental and bitter and sell at the near-bottom.

OP can't express any idea whatsoever without insulting the reader and completely spazzes out the moment anyone disagrees about anything. This thread really isn't actually about a topic anymore, we 're just grabbing popcorn and witnessing a nervous breakdown unfold right before our eyes.

Your contributions stink bro, don´t contribute again.

Yo buddy, this is a bitcoin speculation thread, not a therapy session.

Stay on topic okay?

...and another: http://www.coindesk.com/snapcard-merchants-shop-bitcoin/

*Yawn....

Meanwhile, I'm using bitcoin to buy and sell computer parts without having to give 15% of my sales / purchases to paypal/ebay.

Even when I have sold things using paypal, I then have gotten hit with chargebacks that have cost me THOUSANDS of dollars DESPITE having been authorized by paypal to ship the item to confirmed addresses.

With bitcoin, when someone pays me for something, I then ship it. I don't need to worry. Nobody is going to take those funds back away from me. Bitcoin is revolutionary for web payments.


Also shopping for groceries at target and Wal-Mart using bitcoin.

You have been off topic this entire thread.

Like I said, only intelligent people have things to say. Keep bumping my thread if you really want to. You're only helping me.

Tell you what, every time bitcoin's value goes up by $1000, I'll bump this thread once to remind you how much coins you lost, so that you don't lose them again!

Did OP change the title of the topic? Wtf has it to do with banking anyway?

By far the richest idiot this month "Arghhh"

Congratulations!

*Yawn....

Meanwhile,(No comma here) I'm using bitcoin(Bitcoin) to buy and sell computer parts without having to give 15% of my sales / purchases to paypal/ebay(PayPal/Ebay, also why use the "/" correctly here and not use it correctly for sales/purchases?).

Even when I have sold things using paypal(PayPal), I then have gotten hit with chargebacks(charge-backs) that have cost me THOUSANDS of dollars DESPITE having been authorized by paypal(PayPal) to ship the item to confirmed addresses. (Rewrite this entire sentence, structure is VERY awkward and not well written)

With bitcoin(Bitcoin),(Why is there a comma here?) when someone pays me for something, I then ship it(I would rewrite this to "With PayPal someone pays me for something and then I ship it). I don't need to worry(What is the subject of the worry?). Nobody is going to take those funds back away from me. Bitcoin(you capitalized it here...) is revolutionary for web payments.


Also, (Added comma here)shopping for groceries at target and Wal-Mart(Walmart) using bitcoin(Bitcoin).

Also.... why(Why,Google this) would I trust someone who can't spell "becoming"?

I believe that the revised title would be less embarrassing should bitcoin indeed go to the moon on the next bubble, that many expect to occur this summer. At least half of the title would be somewhat true if Second Market opens a Wall Street style exchange for bitcoin..

By all means sell so you are not a "bag holder" like me.  ;)

Yes, I changed the title to talk about how BTC is turning into BANKING. I realized that half way through this thread that BTC is becoming more like BANKING. That scared me, so I changed the title so when people read these posts they make more sense.

Also, when talking about BTC having a sharp rise, in the sense of banking, BTC would be limited on sharp exponential and logarithmic gains as most banks do not experience this phenomenon. That is the whole reason I changed the title.

Thanks.

I don't even know where to start in terms of how hilarious all of this is, please write more!

Seriously, OP is some kind of accidental comedic genius.

whatever happens... as jeff garzik says, it's an experiment

Can't agree more

How come everyone who loses their BTC/Money all of a sudden understands everything about and around cryptocurrencies and get theese deep genius-like Insights of how and why everything MUST fail.. ?  ???

For some reason, the average person on here thinks btc has to either go to the moon or crash into the ground. I guess they don't realize that each time btc explodes upwards, the likelihood of a similar rise becomes less and less. Anybody who casts doubt on another meteoric rise is shunned and attacked. Greed is a great motivator, some of these people think that btc is the greatest thing to grace their lives.

For some reason, the average person on here thinks btc has to either go to the moon or crash into the ground. I guess they don't realize that each time btc explodes upwards, the likelihood of a similar rise becomes less and less. Anybody who casts doubt on another meteoric rise is shunned and attacked. Greed is a great motivator, some of these people think that btc is the greatest thing to grace their lives.

For some reason, the average person on here thinks btc has to either go to the moon or crash into the ground. I guess they don't realize that each time btc explodes upwards, the likelihood of a similar rise becomes less and less. Anybody who casts doubt on another meteoric rise is shunned and attacked. Greed is a great motivator, some of these people think that btc is the greatest thing to grace their lives.

It's going to at least $100k within a handful of years. Fundamentals dictate it. Up to you what you do with that.

The fundamentals dictate what btc is as a protocol and currency. They don't guarantee that btc will be worth over $100k in a few years.

I think people have an inflated view of bitcoin's fundamentals. Just because it theoretically COULD serve as mainstream currency (if it doesn't break) doesn't mean that it WILL.

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

Bitcoin 100k is impossible.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes.

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

absolute statements like
"It will never reach $x"
or
"It will be $2 by $date"
or
"It's guaranteed to hit $y"
mark you as an overconfident speculator

Both the bitcoin market cap and user base have been increasing exponentially over the last four years:

https://i.imgur.com/N89AGGG.gif

Both the bitcoin market cap and user base have been increasing exponentially over the last four years:

https://i.imgur.com/N89AGGG.gif

which one OP? The red/blue pill or the green pill? bitcoin will only go as far as you want it to



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


https://i.imgur.com/CehNJNy.jpg

which one OP? The red/blue pill or the green pill? bitcoin will only go as far as you want it to

You can make your own physical currency as well, just smelt some copper and other cheap metals and mint it in a nice coin that does not already exists. But that doesn't mean your coin will gain any use, nor will it compete with the dollar.

Just like Altcoins will not gain traction and they will not undermine bitcoin.

Also  we are right on the long term trend line. It has been stagnant for months before. It's just the calm before the storm.

In the g4c chart, can you tell me approximately what date that triangle ends?

Actually you CANNOT make your own physical currency, direct violation of the law in the U.S. and you will go to jail for it. Google it.

^^ Lives in US, assumes everyone else does. Your laws mean fuck all outside America, google it!

Lives in US, assumes everyone else does. Your laws mean fuck all outside America, google it!

I love when people talk about The Government as if it meant something.

Even within an individual country various governments can be conflicting. Cannabis may be decriminalized in several US states but that doesn't mean that the feds can't charge people.

Governments are just a bunch of goofy politicians and civil servants. It's interpretation by the courts that really matters.

In the g4c chart, can you tell me approximately what date that triangle ends?

For small time things ( like cannabis law ) you are right.

But for big things, like monetary policy, even national governments are only a subset of the complete organisation.

Governments have to follow the designated path for monetary policy, or else suffer the fate of JFK, he was shot shortly before announcing a move that would be to the detriment of the federal reserve bank, not a conspiracy theory, publicly available facts.

I assume many speak of "the government" as being the highest level of political organisation, but governments do answer to higher entities. Hence some speak of "the powers that be" or "the system" etc.

The FED has nothing to do with the US government really, it is a completely private commercial entity that charges the government ( via citizen taxation ) for its operation.

Wheres this cunt called fonzie?

Prob crying in his parents basement room due to the cause of shorting.

Can you provide a link to the public available facts thing you mentioned (or just tell me what to google)?

http://en.wikipedia.org/wiki/Executive_Order_11110

Of course in that wikipedia article they say any relation to the assasination is a conspiracy, but just follow the yellow brick road (gold) to get to the truth.

Thanks, appreciated.

Wait for a little dip back under 500, I think he will be back in full force!! Honestly the guy kind of cracks me up.  :) Eyyyyyy

^^ Lives in US, assumes everyone else does. Your laws mean fuck all outside America, google it!

banks could control bitcoin in the future, they could offer security against fraud/thieves but in exchange you must deposit into their "wallet", the majority of the people in the world will follow this way, they are to lazy to secure their wallet themselves, they want everything ready to use and 100% secure

^^ Lives in US, assumes everyone else does. Your laws mean fuck all outside America, google it!