This ETF gonna take BTC to da moon nonsense reminds me a lot of the LTC on gox delusion of last year (we all know how that ended). BTC is already available for people to buy. If it needs some stupid ETF to pump up it's price while the bagholders dump it, then it is not a worthy investment whatsoever. It's nothing more than an exit strategy for some slimy whales, or another medium for manipulating the BTC market.

Bitcoin capitalism: You have two cows. They produce a lot of milk the first few days, then quit producing. You hold onto them hoping that one day they'll resume their high milk output. Cows die leaving you with nothing.

The same reason people try to stir up talk of million or billion dollar bitcoins.

It happened again yesterday. Price started dropping a bit and suddenly 2 million maidsafe bought: https://masterxchange.com/market.php?currency=maid

They were expecting the ETF to be approved by then. The lesson is to never listen to the blind predictions on here, as they have a vested interest in btc going up.

82 people thought price would be higher than $400 on Halloween. And they say the majority are bearish 

We've still got quite a ways to go before the real panic sets in. $266 will be very interesting.

This doesn't sound good at all for btc 

They say a picture is worth 1000 words, and I think this one sums up the current situation of BTC:

Many people were expecting btc to increase exponentially this year. Not only does that not appear to be happening, but it looks like the price is going to end up much lower than it was in the beginning of the year. The people who were advocating that you can't lose if you buy btc and hold for a year for guaranteed profits have no legs to stand on. If we do break the old ATH of $266, then I think it's quite possible to see a big crash rather than the show bleeding of the price that we've been witnessing.

There are a few different factors to consider now compared to the 2011 bubble. There were no ASICs or mega-mining farms back then. Some of these mining farms are still making nice profits even at the current price, so there's no reason for them to shut off their miners yet. The one's mining at a loss right now will just get hit harder once they're forced to sell their btc in order to cover expenses.

Why so bearish mate? Don't you want to join the quadrillionaires club?

Rumors are circulating that some of the large pools are planning to shut down due to the impending government regulations.

There's also rumors that certain cloud mining services are not actually mining with investor btc, but running a ponzi scheme.

I wonder which one of those categories I fall under, as I still own a few btc 

I think it comes down to a matter of supply and demand. The average person who is interested in possibly getting into btc will ask themselves 'why do I need this thing?' Earlier, when many new users were adopting btc, the answer for many was because 'woah, maybe I can get rich off of this new thing!' Now it's sort of 'Meh, this thing lost 70% of it's value in 10 months. Too risky for me.'

There are of course many other reasons that people got into btc that I didn't list and don't care to get into. The main thing is that for the price to recover, there has to be increased demand for btc, and for that to happen, newcomers have to see something in btc that would make them want it. The people here can crow all day about how btc is the greatest thing since sliced cheese but that doesn't matter, as these people have already adopted btc. We need fresh demand for btc if it is to continue to grow.

I got to hand it to you, your comeback was as sly as a fox.

Nicely played

No I am not because I do not trust these centralized exchanges.

No, I expect you to continue believing that btc is going to turn you into a billionaire.

I never said 10 years, but rather a matter of time. Also, I don't consider btc to be money.

Anyhow, nice of you to try to change the subject from the btc billionaire fantasy.

Firstly I didn't call him a liar, but rather, asked him a question. Secondly, my username, which I happened to choose from a candybar wrapper that happened to be in front of me when I made this account, has no bearing whatsoever on this discussion. Thirdly, my irony statement was referring to the double standards of certain bitsheep and has nothing to do with millionaires on this forum.


Satoshi is said to have over 1 million btc, he's not your average btc holder. Either way, most people buying a few btc and expecting to become billionaires are delusional. People buying 1000 btc and expecting to become billionaires are delusional too. People buying btc without expectations and considering it a risk that may or may not pay off are thinking rationally.

I don't care about the price of btc in 25 years. Technological innovation happens fast, and it's only a matter of time before btc is dethroned by one or more superior cryptos.

So how long should I hodl my btc until I become a billionaire?

It's ironic how someone who brings logic to the debate is dismissed as a troll by your likes, yet the one who spouts delusion is defended and justified, all because of greed.