It's not even about being offended. Essentially, if you disagree with OP then "you're gay". That really shows the maturity level and sophistication of bitcoin fanatics.

A bullshit prediction based essentially on a "gut feeling" with a side of homophobia. Welcome to my ignore list.

Well said 

Here's the thing about the bitcoin bulls. Basically the extension of their hope relies on the follow principles:

1) bitcoin fundamentals have not changed.
OK, but if people are not interested in these fundamentals, it doesn't matter if the protocol "works" or not. The betamax fundamentals still work, OR HD-DVD, but people chose other protocols for various reasons.
2) bitcoin is a new technology
doesn't mean anything. the virtual boy was a new technology, but nobody wanted it, despite a small niche of fanatic gamers.
3) There are many "bitcoin pregnancies" waiting for maturity.
Look at above two points. And now, bitcoin has lost 70% of value in ONE YEAR. Nobody wants it! And unlike 2011, we now have merchant adoption, so basically, bitcoin's potential is already "maxed out" or very close.

Some of the bulls take these points and add mathematical terminology, long term trend lines, and avatars of themselves in suit and ties to make it look all polished, but anyone with functionable brain can see it is wrong! Looks like fallllling and his wise associates right from the start!

Almost <$300 on BTC-E now! Gosh, were the "trolls" right yet again? Should have listened to fallllling and his associates... yet again!

Welcome to my ignore list.

Risto apologist to the rescue!

He called bottom at ~$500 in August when this thread was created, and it was clear when it was originally posted that he believed we would trend back up from that price point. He was prompted to call it on August 15 because we had just experienced a large drop, but he determined that we had bottomed out. If you read his older posts, it's pretty clear that he thought we would be back over the ATH again at this point.

Sorry, but I'm not going to let anyone wishy wash their way out of their bold predictions. Anyone is free to make any prediction they want here, but you've got to face up to it when you're wrong.

What happened to the post that this was in reply to? Are the mods deleting bearish posts again?

  In what kind of market do people silence bearish posts just because it doesn't fit their opinion? This place is a joke.

exocytosis:

Prediction skill level: Troll

I love how a troll is now defined on this forum as someone who is consistently right about the market movement for the past several months.

*sigh* Again, I'm here to warn you people and hopefully prevent any new potential "greater fools" from getting burned.

I could give two shits about manipulating the market down, as I won't ever be buying bitcoin again. I sold while we were still above $600, because I could see what was in store. I'm now trying to help others see the light.

Cliff Stoll was merely expressing his doubts about the feasibility of online shopping and education in the classroom. He was partially right about the classroom part... computers have not replaced teachers in public schools, it's still really just a supplement. He was wrong about the online shopping part, and he's admitted such.

But the fundamental problem that bitcoiners can't get over is... bitcoin is not the Internet.

Cliff played a significant role in developing security best practices during the first couple decades of the Internet's development. He would have told you back in 1995 that the Internet was a significant advancement in technology, even if he had doubts about how it would effect our everyday lives.

But bitcoin is only a de-centralized payment network... and we already have plenty of payment methods. Is the public hungering for decentralization? So far, it certainly doesn't seem like it. And why would they? Their government issued money is working perfectly fine.

The Internet was a suite of protocols connecting computers around the world via switches, routers, and packet switching technologies. Bitcoin is simply one protocol built on top of that. It's delusions of grandeur. Apples and oranges.

The www was invented in what, 1993? 1994? Within a couple years, I was online with an Internet portal, and I was just a snot nosed kid who watched Nickelodeon all day. If I knew about it and was using it within such a short span of time, then obviously it had a significant impact on society. I could go online and find information about anything I wanted almost instantly via Yahoo or Alta Vista.

Bitcoin doesn't solve any problems for average people. If you tell people that it's more secure, then it's a lie, because nobody is backing the funds, and they can be lost or stolen with no course of action for the consumer. You can tell them it saves them on international transaction fees, but it doesn't matter, since anyone who actually cares about such a thing has a credit card that waives them anyway.

So what's left? Comparing bitcoin with the world wide web is a moot point.

The only thing that gets people's attention is when you tell them that it raised in price 10,000x over the past couple years. Money. That's all that anyone cares about, and until bitcoin actually provides real utility to users -- which it probably never will -- it's a flash in the frying pan of history. In 5 years, nobody will even remember any of this bullshit.

What you call "trolling" is called "pointing out the obvious" to any rational person. Bitcoin is going down, and I'm just trying to warn those who will listen, just as I've been doing for several months when I sold my stash at $600.

Couldn't agree more, Warren. Thanks for taking time out of your busy schedule to enlighten us.

Wallet creation means nothing, I've created hundreds of wallets, and I just played with bitcoin for a bit as a small time interest. People can make as many as they want, and routinely do for security principles.

ATMs, merchant adoption don't really matter either. These are just savvy people trying to make a quick buck off of the public.

The only true fundamental that matters is the fact that bitcoin does not solve any problems for average people. Nobody is discovering bitcoin and then buying some so that they can go shopping online. There is no point!

Some of you believe that speculation alone can keep driving it up, but without real utility, that will eventually fail. I think we have already reached that point, since there is nothing more to really look forward to. Merchant adoption has already happened, and all it has done is cause selling pressure. The ETF will probably be denied, but even it it does go live eventually, it doesn't matter. It's just one more method (one of many) to buy bitcoin. It's not an innovation, just another way to lure in "greater fools".

It's that moment that every bitcoin speculator has experienced this year.

First, "Thanks for the cheap coins, weak hands!"

And soon becomes, "I haven't actually lost anything yet, because I haven't sold! Holding for next rally!"

 

Enjoy those bitcoin bags everyone. They must be getting pretty heavy.

Are you kidding? Blitz has erased many of my posts, simply for stating a bearish sentiment. I know for a fact that many accounts here have been banned as well for warning of a continuing downtrend.

I'd agree with "spam" being deleted, but you can't just ban users and erase comments for portraying a market sentiment that you don't agree with.

Most likely blitz is well underwater on his investment, and doesn't want to face reality. That is why he keeps banning bears, despite the fact that they're always correct.

Proactively posting this image for when I revisit this thread in a few weeks and we're <$300

Please stop with this already. It's an unrealized loss, which doesn't make it any less real.