I agree. The truth mostly comes form the balance of different opinions.

This thread is about an disagreement, we had with rpietila, on another thread of his.
I thought that it was kind of funny, how he left only those off-topic posts, that involved some serious ass-kissing towards him and deleted others that didn't. He thought that this isn't funny at all, and it's serious as cancer and I should get banned for that.
When I didn't get banned right away, then he thought that maybe he'll create another thread, that is directed towards admiring me, so I'll discover the beauty of getting my ass constantly kissed and therefor will remain silent about this subject. Now, solely because I didn't get enough admiration from this thread, I have to call this method as an failed attempt and I still have to point out some aspects on his other thread that I find funny. There is still some time before I get banned...

If you try really hard, then you can see the difference in illegal trade taking a fraction of currency movement, and illegal trade actually creating the base of an currency, with criminals owning most of it.


Because criminals are attracted to easy money like most others here, and there are very few public figures who have publicly stated their stake in bitcoin. "Somehow" the bitcoin owners like to remain anonymous. DPR was caught with (some of?) the coins he was holding, but there is a low probability that this was an isolated case.


Second Market isn't an investments into bitcoin, but into services that can function with all kinds of digital currencies that we will probably see in the future.
Investment groups like Trade Fortress knowingly and routinely take these high risk gambles, that have potential for high rewards but low probability of success. Bitcoin wasn't the first and won't be the last gamble they made, and $20 million isn't exactly a big sum to them. For instance, Fortress once lost $125 million purchasing fraudulent promissory notes from fraudster Marc Drier who was operating a Ponzi scheme, so they aren't known to be extra careful with their investments.
And Winklevii? Well, I consider those guys to be better rowers then businessmen. Sometimes, when I hear some things that come out of their mouth, then I sincerely wonder on how the hell did they graduate Harvard.



Those crashes meant little, because people were actually only selling because others were selling. There still was potential left in bitcoin. Now it won't take long since bitcoin will just run out of it's potential. It will try to utilize itself on roles, that are too complex, for it's financially overly simplistic nature.
But I agree that bitcoin could have about 1 or 2 bubbles still left in it before the final demise, because the hype still seems to be pretty strong.



If you'll read my text again, then you'll see that I was pointing at new currencies, that will be sold on already regulated exchanges. That means that there will be lower chances of shenanigans like pre-mining or criminals getting their hold of the coins. It's all about trust and transparency. Having blind faith that all the former criminals are good folks, who wouldn't dump their coins to get your wealth, is for the cultsists, not for serious investors.

Stability is showing the will of the hodlers. New people aren't buying because no one wants to buy when they know, that their money can just disappear along with the exchange. Old holders are holding because people keep telling them that it's only temporary and soon the price will go to the moon. Miners are also holding, because they will see no ROI with this price.
Right now it all depends on how long will the holders hold. Because if there is a big enough dump, then there will be a snowball effect with the drop accelerating. I have never understood the mind of the cultist holders, so it's hard to speculate on how long will they last. It's easier to speculate that there won't be coming any important positive news in the near future. So, currently my money is betting that this price will drop. But it's a gamble either way.

I think that bitcoin has about 1-2 bubbles left in it. One cause of south/central-America and the other one because of high hopes and promises, that bitcoin will succeed with ETF. After that there will be probably a new digital currency with better quality, that takes over.

I wonder if I'll speak more, then will he buy more bitcoins with the current market, just to spite me?

That's my decision how I use my time. Some people see it as good use of time to cheer mindlessly about bitcoin, but I use my time to bring them back to earth.
I think that it's better when illusions break sooner then later. I actually see that I'm doing a good thing here by warning people about the dangers they are involved in.

People sure aren't acting like they are aware of the risks already. I'll probably get my account banned soon, so you don't have to see my name any longer. Can't promise that you won't see my text anymore though.

The last line you wrote was a little weird. To me, that's like shooting yourself in the foot just to spite people like me :/

I don't believe all the dark negative shit, but I believe the things, that I myself have been saying for some time now. I mostly come here to balance things out and to give some criticism to all this senseless cheering. I think that I'll probably get banned soon, so you probably don't have to see my name again. Can't be sure on not seeing my criticism again tho.

To balance things out. Yeah, when a group of smokers like to cheer to each other, how good smoking is for their health, then I'm exactly the guy who cuts in and recommends to have at least minimal grip on reality.

The thing that makes bitcoin risky, is it's history. For the first years, bitcoin was mainly a tool for black market trade, and there have been plenty of situations where a large number of coins have been stolen by computer crackers and confidence man.
This creates this situation, where in all probability, most of the coins are actually owned by criminal minded people. To invest in bitcoin, means that you are trusting these anonymous criminals to hold their coins, instead of dumping and acquiring your wealth as their own. No serious investor will take this risk with serious sums of money.
I think that this will mark the final demise of bitcoin, when the regulators see that you can't have any certainty about the past history of bitcoin. It means that there will probably be a new digital currency, that will be sold from an already regulated market system and by that, creating a more transparent and trustworthy ownership history.

Everyone here are also aware that most of the bitcoins are owned by anonymous people, who in all probability and considering the history, are drug dealers, computer crackers or confidence man. By trusting your wealth in bitcoin, you are trusting that this criminal element won't dump their coins to acquire your wealth as their own.

Yes, I deliver cannolis (while fucking), and this helped me understand, how companies are gaining big in financial efficiency by adopting bitcoin, and how it isn't all about marketing, free press coverage and getting new loyal customers who are loyal to bitcoin. If I were an financial expert, like a lot of the people here (definitely you), then I would also understand how Bitcoin will soon be the world currency, because it has a very solid history, great price stability, and an extremely smooth rate for new coin supply.

Financially doge is just as much of an gimmick as bitcoin. I'm talking about how much financial efficiency is gained from a legal company to adopt it's usage.
Doge exposed the face of bitcoin by showing just how important is the hype factor in the success of an crypto. It showed that cryptos don't have much to do with quality of the currency, but it's all about hype. That's why all the hate from the bitcoin cultists towards doge.
I think that this will change in the future, but right now, it's not hard to see why so many people see bitcoin more as an cult icon, not an serious financial tool.

It has nothing to do with gox losing it's customers funds and therefor destroying trust towards the bitcoin market system. It also doesn't have anything to do with the nature of bitcoin, where the price has to be in a constant rise, or else it will start to fall.
My bet goes that it's all a one big conspiracy orchestrated by banksters who take orders from the alien reptoids.

You are irritated because there is very little buying interest for bitcoin, so you aren't earning the wealth that you hoped for. Don't blame me for this, I didn't cause this. It was Mark Karpales and the passive emus of the bitcoin community that turned buying bitcoin into a joke.

So... the hodlers getting nervous yet?
Who would have known, that a painful hit to the integrity of the market system, would actually lower buyers interest.. It must be a conspiracy.. Probably orchestrated by those damn evil banksters.

I hope you didn't like the house very much and you own another place to live. It would be stupid gamble if you actually sold your home and moved into an rental, just to gamble with bitcoins. At the current situation, it would make more sense to play the money at the roulette table, since probability tends to lean more and more to the bitcoin price dropping.
I would recommend to sell your bitcoins now and buy back when there is more certainty that the price will actually rise.

I think when the final demise of bitcoin will start to get closer, then we will hear a lot of this how everyone are stupid for not filling their pockets by buying more expensive coins.