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The problem with Bitcoin has been that most serious developers been too busy building/running/scamming through their own pump and dump altcoins than focusing on building for Bitcoin. Can you imagine, for the all popularity of Minecraft, there isnt even a decent serious Bitcoin economy based server there (and I'm not talking about the one hack job some noobs did)
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I have a very active imagination. Perhaps that's why I got into this in the first place  I can imagine a world where people are free from oppressive capital controls and where truly free markets can exist. Maybe it's all a fantasy, but I prefer that fantasy over the increasing centralization of power and control that is happening all around us. Its a good noble goal but in the world we live, its also a pipedream. The road to true freedom is littered with corpses of idealists. |
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After 6 years Bitcoin is still as primitive and hard to use as day 1. 100's of millions are put into it and we can't even make it look more simple (like a paypal system for instance). People don't like it and don't to use it. That is the reality. It failed. It's that simple. Once the traders are done raping it it will be over. A new and better system will take over.
Yeah though I'm a long term believer in bitcoin, I think Bitcoin has to die first to get reborn from the ashes of the old and fallen. |
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Serious question:
What's the "fair price" of one bitcoin? and how do you arrive to that conclusion?
Depends on how many people use it and the average dollar value of their purchases. Balmer couldnt have bought the LA Clippers in bitcoins because there just aint enough of it to cover his $2B purchase. Moreover the moron selling it couldnt have easily converted it to fiat to pay off his daily dose of whoring |
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Wow so many muppets everywhere. Bitcoin will only bottom when all the BTFD-er sheeple are taken to the woodshed by the big boys. We need a capitulation for a new bull run to start. Until then its just drip drip drip. Death by a thousand cuts
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buy high, sell low... always the best way to do it
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LOL. Bitcoin is a store of value ... Cant believe we all actually fell for that. The jokes actually on us. Good one Satoshi, good one.
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So it was a big pump and dump afterall huh. Well done, scammers. Well done.
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Here's the thing, I've been a bear for the duration of 2014, but I don't think too many people are willing to sell below 275. So looks like 250 is probably the absolute bottom if it does reach there, at least for the 1st quarter of 2015.
Below $275, it would be not profitable to mine the BTC. Below $275, it is better for miners to buy and store BTC. Not to mention that the short squeeze can be lucrative for the whales. I don't think the whales are that stubborn, because profit is profit no matter it is from the bull side or the bear side. Miners will mine at whatever price since hardware costs are already sunk costs - the only limiting factor is power but some like me run solar panels on my roof and since its all paid for already upfront, my day to day power cost is basically 0. However I'm not a seller. I hodl my mined coins |
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Not really ... a dollar last year is only worth 98 cents today (even if we assume the retarded 2% claim of inflation from the gov)
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Remember BTC will always hold its value. 1 BTC will ALWAYS be 1 BTC ;p
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New position, closed short. 15 btc's long @ 280 ... we might be at a potential bottom right now.
Good one. I recently covered most of my shorts too in this decline. Risk/reward favors long from here |
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Sitting at $275...... and looking like it's pretty ready to fall.......  I've put in limit orders to buy some around $250. Hoping to get some fills. If 250 breaks, also have limit orders down to $200. |
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Huge volume on Huobi. Those commies really know how to sell huh?
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OK so moving along with the same old usual for bitcoin we all know and love. Lets not forget it has risen and fallen more then 9...12 times up and down. I am curious what can cause such a movement surely the price should have dropped slowly to spread its value among the new bitcoins; but it seems to never do this so is it possible this short small drops are the result and the low price gets everyone buying them giving a breath of new income and flow. Thus jetting up the price rapidly like we have seen it before at 1k-1.3k/bit.I also have a theory about making bitcoins into a power source but this would require some tuning to make a new coin to do this. Anyway anyone know why exactly did it drop. Was it like that one time someone jacked a bunch of accounts linked to bitcoin and stole/destroyed a few mill?
namaste brothers and sisters
mostly brothers here man... as much as I'd like, girls just aint into it and with the price collapsing, we are the laughing stock of the town... |
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Don't worry, early adopters. I will buy bitcoin at $5-$10 in a couple of weeks, just like you all did. LMFAO. It's just that i won't have to lose years of my life on a forum.
Keep in mind, in bitcoin, moon comes to you! |
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dumping in progress  cant believe this Bitcoin Days Destroyed pretty stable though at between 6M-8M... so most dumpers are just yesterdays pumpers, not many long time bagholders jumping ship yet |
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Lots of people getting buggered by bitcoin today. This carnage in Bitcoin is like being invited to the Red Wedding in Game of Thrones and getting fucked without even eating or drinking any booze
Yeah most Bitcoiners just crying and hugging theirs moms in their basement room as I type |
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