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These answers are disingenuous. Yes, in terms of percentage the price would need to approximately halve once again to equal the drop in 2011 but the total value (in dollar terms) of the Bitcoin economy was a fraction of what it is now.
People are hurting big time now because something like 3.5 billion dollars of purchasing power has evaporated over the last year.
Nothing like that has ever happened before with Bitcoin. So no, it has never been worse.
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Wait. I thought Bitcoin never went below the previous bubbles high....
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FYI, buy price on Circle is $302.16 ATM
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That 30K wall is Draper cutting his losses.
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Well it was an interesting ride--learned a lot, and hopefully spared from future speculations that would have gone bad.
Will still have my eye on BTC, but full fiat now.
--2011, the year I learned about BTC
--2014, the year I bought and mined BTC, but obsessed about it, lost money, etc.
Perspective is a funny thing.
you waited a year too long. |
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the price was driven down hard and quick right before newegg... paypal is ten times that ....ITS A SET UP. thats the anouncment.... sorry, my bad. retracted..... |
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stamps inching closer to that 1.1K BTC wall @390  ove half gone |
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Storing $1 Million in your head while walking across a border is worth it for BTC to exist.
Except that it might be worth 500k when you get to the other side. |
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Bought BTC back in 11 13 2013 when we were at 410.
Then again at 540.
Then more at 600.
I would rather see BTC hit 0.00 then leave now.
I am a firm believer in the technology, which is still sound.
ETF will spark next rise.
We might hit 380 in the meantime but fuck it.
Time to double my holdings for less.
Thank you weak hands and trolls.
Drop your false hope. The ETF doesn't matter, it's only another way for people to invest in a digital token, it's not an actual innovation to bitcoin and does nothing to make them more attractive to consumers. That's the number 1 problem right now. Outside of this community, nobody is buying bitcoins and using them for shopping. As much as people here evangelize it, there is no good reason for them to convert their cash to bitcoin. Bitcoin is finished... you need to accept that reality. This isn't 2012: back then, bitcoin was only a play thing for nerds, but there was no actual infrastructure yet. Now we have merchant adoption, but no consumers! And governments are banning! The ship is going down, and you're playing your violin on the deck. +1 Many people now know about bitcoin and they aren't interested in it. Most do not value it as a payment system. It is not winning the fight of payment systems. People are not "buying" bitcoin, literally or figuratively. It's time for other applications of blockchain technology besides currency. You'll be leaving the forum never to return then? .. Oh wait. No. But I will keep working on my non-currency blockchain related projects. |
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Bought BTC back in 11 13 2013 when we were at 410.
Then again at 540.
Then more at 600.
I would rather see BTC hit 0.00 then leave now.
I am a firm believer in the technology, which is still sound.
ETF will spark next rise.
We might hit 380 in the meantime but fuck it.
Time to double my holdings for less.
Thank you weak hands and trolls.
Drop your false hope. The ETF doesn't matter, it's only another way for people to invest in a digital token, it's not an actual innovation to bitcoin and does nothing to make them more attractive to consumers. That's the number 1 problem right now. Outside of this community, nobody is buying bitcoins and using them for shopping. As much as people here evangelize it, there is no good reason for them to convert their cash to bitcoin. Bitcoin is finished... you need to accept that reality. This isn't 2012: back then, bitcoin was only a play thing for nerds, but there was no actual infrastructure yet. Now we have merchant adoption, but no consumers! And governments are banning! The ship is going down, and you're playing your violin on the deck. +1 Many people now know about bitcoin and they aren't interested in it. Most do not value it as a payment system. It is not winning the fight of payment systems. People are not "buying" bitcoin, literally or figuratively. It's time for other applications of blockchain technology besides currency. |
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Op will profit very much at the end if the hodl well.  OP is now homeless, his family hates him and his friends think he is a retard. I'd kill myself in that position. Wonder if the HODL memes will be funny when price is sub $100. God damn delusional ostriches. OP, your father is rolling in his grave what a dumb son he had. All he needs to do is hold, everyone told him that there would be a despair phase! Bitcoin is going nowhere but up! Because past performance indicates future performance amirite? The fundamentals have not changed! Bitcoin is still as awesome as it has always has been... we just need to wait for Wall Street to come in! and what if they ain't coming? |
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Thanks for the support guys. The response to the project so far has been intense. Namecoin is a really great coin.
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Thank you to cdog for at least addressing one of the topics of the essay. And again "nice work" to the many more who just kept fantasising about her sex life.
Let's state this in a more productive way: How can we help people who could benefit from Bitcoin but aren't part of it to find a place for themselves here in the Bitcoin community?
After all, the influx of millions of new dollars has to come from somewhere if all the hodlers want to cash in on their $100,000 coins.
I would think that posting pictures of female commentators in order to disparage their looks and sex life isn't one of them.
And that definition of "cultural marxism" is just laughable. You guys really have to read some books.
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The exchanges are critical for price discovery. And to have open orders and a functioning order book means funds must be left there. So the 'get in and get out' strategy is rational individually, but very limiting to bitcoin overall.
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"the community here" meant the members of bitcointalk who have so far responded. It doesn't mean "the bitcoin community" or "the bitcointalk community"
It means the responses to date.
There had been a uniformity of response that failed to address the main question of her post and instead made ad hominem reactions.
Since this is an open forum, perhaps that ratio will change.
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This is the heart of her text: "But the question stands as to why Bitcoin doesn’t reflect the ranks of the unbanked at all. Why isn’t the crypto-currency of the future taking hold among [these] communities...?" The 'reflection' she is talking about, relies on statistics taken from here http://simulacrum.cc/2014/02/01/bitcoin-community-survey-2014/Statistically, that site says, as she reports, that (to quote her article) "the average user is a 32.1-year-old libertarian male." We could question the legitimacy of this statistical portrait and so reject this depiction, but she has accepted it, after reinforcing it with some additional, more informal links. She correctly notes that Bitcoin sees itself as an alternative to traditional banking. I'm sure we can agree on this. She then goes on to discuss people and communities who are shut out of traditional banking. She notes that they are not typically 32.1-year-old libertarian males. So she asks why is there this gap between a new non-traditional banking system and a large community of people who really need a non-traditional banking system. I think this is an obvious and legitimate question. Her answer to why involves several factors that one could accept or reject: the technological difficulty in using the system, the risks involved in the absence of government regulation, and deeply ingrained systemic biases against many members of the unbanked. I think there is wide agreement on the first point. Bitcoin is currently difficult to use securely for many people. The second point is more controversial, but clearly there are many different points of view about the questions of risk vs. regulation. It is a topic currently under intense debate in the community. The third point is probably the most controversial and I won't speak for or against it here. So someone asks "Why isn't Bitcoin reaching out to communities who in theory could benefit from what it offers?" And the community responds here with: "She's Jewish," "She's a woman," "She's ugly." nice one. |
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A system like Bitcoin that is trustless doesn't get rid of trust, it just pushes it out of the center towards the edges where it's effects are more unpredictable and amplified. It needs a social contract to function but its perceived lack of need of just such relationships is always foregrounded.
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