I haven't read the article, but I can guess at what the author's point is.
the leading competitor coins, Litecoin and Peercoin (Yes, I know there are dozenS of these altcoins, but ltc and ppc ARE the leaders), have a LONG way to go to overtake Bitcoin in any way, shape or form. Will a new cryptocoin be invented that will revolutionize and become dominant in the near future? I think chances are slim and none, and slim just jumped off the bridge to his death.
Ripple employees currently: 25+ Bitcoin developers ~7-20 depending on where you draw the line. It's already an uphill battle folks. |
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It happened before and can happen again. Nothing is certain, but your hubris does make me think that it's more likely to plunge deep and hard rather than not.  |
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Bitcoin did survive one longer bear market and it would survive another, drawing relations between peaks and valleys doesn't work out.
I am not saying it can't survive bear market, we are in one now afterall and was in a semi-bear market last summer. I'm just saying the total value of investment is now way past the $2 or $10 or $50 per coin, so any prices below 100 would mean a certain doom for bitcoin on the horizon. Total value of investment eh? You are just parroting the same - not even an argument perhaps a statement over and over. So let me get this straight: If we go below $100 you are dumping all your coins? Cuz "certain doom" or what? |
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India has a pretty high gini index, that's what I mean. But the wealth distribution is flatter at the top, leaving you with a similar situation to China.
If you leave away the lower 50% of China/India you almost have a western industrial nation, not quite but it's getting there - fast.
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LOL at the clueless idiots thinking India is a poverty stricken 3rd world country. It has more top universities than any central European country and a quite healthy middle class. It is similar to China in that respect, it just has different politics. Yes the rural population is fucked, but that's no different than in China.
Compare the GDP of China and India ... GDP is not a measure of personal income, in the case of China it includes all those export businesses of which profits go to offshore firms. Any way China and India compose about half of the world population, if you don't think that is a dramatic longterm development what is? |
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LOL at the clueless idiots thinking India is a poverty stricken 3rd world country. It has more top universities than any central European country and a quite healthy middle class. It is similar to China in that respect, it just has different politics. Yes the rural population is fucked, but that's no different than in China.
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"The general consensus against investors" means jack shit for the survival and utility of Bitcoin.
I meant amongst. And no, it does not. I can clone you a million of cryptos which would "survive" each on it's own mining PC, and maybe even have utility if you hold a gun at the other parties head. But the money, if they leave for greener pastures once, won't return anymore. So no new businesses, no infrastructure, no development, no headlines, no new adopters, dying coin. That would imply a worthless coin, which I already said is lethal. Bitcoin did survive one longer bear market and it would survive another, drawing relations between peaks and valleys doesn't work out. Real developments are different each time. Is it possible that a bear market ultimately ends Bitcoin as we know it? Of course it is, but that doesn't mean it has to happen. What the speculative investment into Bitcoins does has very little to do with it. |
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"The general consensus against investors" means jack shit for the survival and utility of Bitcoin.
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There are always reasons, and so far I've not seen any which would suggest that $10, hell even $1 would represent too low demand. I think that answers the question on who the real "weak hands" are.
At $10 Bitcoin can support the entire Bitpay merchant network and at $1 the entire black market network. Again, money velocity would rise in such a case. 99%+ of all Bitcoins are hoarded but it doesn't have to be that way...
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In every other scenario bitcoin will survive.
Not in the useable form, no. Once businesses switch to some other currency and most funds flow out of bitcoin, it is not raising again. Sure some people will have it running for a while, but it is not coming back from $10, not anymore. That would mean most investors and businesses completely lost faith and cashed out. After that, only a matter of time until the slowpokes of the world catch the drift. What are you saying that if it crashes to $10 it will become worthless eventually? Doesn't really make sense to me unless the reason for the crash is some fundamental problem with the software. At $10 that is still over 100,000,000 USD worth the economy has to work with, money velocity has to be higher of course and it should be.  |
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I want some 10$ Bitcoins.
Why would you want $10 BTC? If BTC goes $10 then it will kill bitcoin. I'm waiting for "The chart" since this analysis is based on it  If it goes to XXX it won't kill bitcoin. The only 'price' which can kill it (in a sense that nobody would bother to store the blockchain) is if it were completely worthless, zero, 0 nada. In every other scenario bitcoin will survive. |
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the phrase 'magic internet money' has a lot of resonance. for those who do not understand it, the phrase captures the inherent absurdity of placing fiduciary trust in a mysterious incantation promoted by the primary current source of misinformation disinformation chicanery and charlatanry. for those who do understand it, it captures the awe of a technological masterpiece, the marvel of the untrammeled vistas of future innovation, the absence of counterparty risk, and the creative power of value added through network effects.
I think you got the two mixed up. |
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Sell all your coins on an exchange then use the resulting money to leverage short on Bitfinex as much as possible. After that borrow as much money as possible and use that to get even more margin for your short and max it out. Only this way you can get a feeling how the dumber half of this forum feels right now. They're just leverage long... |
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For all I care they can crush the traditional exchange infrastructure. It never was really meant to be and it will squeeze a lot of idiots out.
This community is saturated with hubris, that has to stop.
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Do bitcoiners think ripple is a threat? Why?
Yes, they are so afraid they can't even put out a coherent sentence and parrot what they read on the net. It's because XRP could oust BTC from the market because XRP is truly deflationary with ripples architecture able to provide a better payment system with more functionality than Bitcoin can. |
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I hear Zuckerberg has quietly accumulated 2% of Bitcoin, just so that if it does succeed, he can reveal his position to the Winklevoss and stick it to them once more.
This is just a rumor though..
I've heard satoshi is Richard Stallman. Just a rumor though. |
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