Or a Segway

http://www.theatlantic.com/business/archive/2013/11/bitcoin-is-the-segway-of-currency/281625/

Bitcoin pumper says price will go up?   I'm shocked.

PMs are in a bear market. It may last for years, it still too early to buy, only 30% have been lost in gold since gold ATH, it still can drop another 50% before recovering and entering a bull market again.

We might see gold sub $800 in a year or two and stay there for a long time.

That's true. That's why $7000, $25 000, $100k predicitions are total nonsense.

I doubt it will ever happen, but if bitcoin somehow ever again reaches $1000, everyone would go in selling mode. It would be impossible for people to be patient and hold at levels that high.

$60-$100 (same as mid-2013 levels, between two major bubbles)

Do you guys seriously believe this forum (with each thread no more than couple of hundred hits), has any influence on overall sentiment?

Why would anyone bother,
I think you bulls just can't handle the truth that there are people who are really bearish, and there is more of us than just one.

I, as a bear, visit this forum because it is enjoyable reading and debating people who honestly believe bitcoin will change the world and hit million a piece. (I was always interested in psychology, and this is a great way to observe people in the middle of a mania)

Somewhere between the Moon and Jupiter.

Worth of bitcoin is not determined by usage, but hoarding (betting on price increase, speculation). If bitcoin was used, people would be buying and SELLING them all the time, so price wouldn't be able to rise much.

Answer to your question, actual worth of bitcoin is less than 1$, meaning speculative surcharge is more than 99% of the current price.

I think it will drop to mid-2013 levels, but not completely collapse yet. Your thoughts?

Your dream will come true eventually, 4 point 65 dollars for one bitcoin is realistic price.

"If someone is bearish on "my precious", he must be a troll or disguised bull, bitcoin can't go down, it can only go up"

That's what time it is. Rude awakening is coming my friends.

You know we're in a mania when people label bears as trolls or scammers.

Couple of years from now, you bulls will look back and see, "oh wait, bears were actually talking sense, how come we didn't see that, we must have really lost our minds during this bitcoin craze"

By 2016 silver in single digits

What a ridiculous poll, it should be

less than $0.01
$0.01+
$0.1+
$1+
$10-50
$51-100
$100-200
$200+

Most bitcoin "believers" consciously or subconsciously want to get rich (get more $).

They won't admit it, but they don't truly care about bitcoin, they care about possibility of getting rich out of it. That's why it is destined to collapse, it always ends that way when everything is based on greed.

Bubble can't last much longer, initial euphoria is vanishing, more and more speculators begin to realize there isn't much upside potential and slowly are getting out. Downward trend is obvious and it's not gonna get positive attention in general public and potential for fresh blood (new suckers) is decreasing.

Game will be over soon, a year from now I'm 90% certain it will be in 2 digits or less

Death of bitcoin is inevitable, but timing is hard to predict. It could be hours, days, maybe even weeks before it finally collapses.

The sole reason people use bitcoins is to more easily transact dollars (or any currency) from one place to another.

But would it make any difference if bitcoin price was $1 or $0.1 for its use?

Let's say you want to send someone $100 dollars and than you buy 100 bitcoins, send it to him, he receives them and sells them to get his dollars. Transaction of dollars complete.

There is no need to hold bitcoins except for hoping price will rise, and there is no reason for price of bitcoin to rise except if people hold them because of speculation.

Therefore, price is almost entirely speculative, because if it was up to usage price would be small since everyone would be selling them the moment after they recieve them.

You could say you hold it because you can buy stuff with it, but really you can't. You're just buying with dollars bitcoin represents (you're transacting dollars again). One bitcoin means nothing, you need to have it expressed in dollars to grasp the meaning of it. People need dollars because they're legal tender and they pay taxes with them, while nobody needs bitcoin. They just need it to transact those dollars, but they don't need to hold them.

Let me get this straight, you say "it's not get rich quick scheme" yet you see bitcoin at $ 1 000 000 in 2018?

Don't worry. I don't have a Down syndrome, but most bitcoin investors probably do. How else would you explain buying at $1000 or $800, and expecting price to go as high as $25 000 without fundamentals? Only fundamentals I see in bitcoin are fundaMentals.

Wake up people already. Bubble can't last much longer, it's game over. You can sell at $500 and get any value out of it, or wait until it goes to zero. Ask yourself, would you rather own 500 dollars (backed by US military and economy) or one Bitcoin (backed by nothing but speculation and held by obscure early miners and adopters). It's so obvious but people always become blind during the mania. If cryptocurrency was ever to live, it wouldn't be bitcoin. Nations can create their own cryptocurrencies, and then your "algorithm agenda" goes down the toilet. Algorithm is basically useless, since it can easily be recreated. Price of bitcoin is nothing but speculative bubble with no fundamentals.