There will always be trolls, and they will spout foolish nonsense all the way up

[RodeoX]

What will tomorrows lotto numbers be? Anyone who can correctly tell me this will have my attention. Anyone else is a guesser. I don't trade on some emotional guess by some anonymous kid. That is not how you win in the stock, bond, real estate, private investment, and bitcoin markets.  
I look at utility. Is bitcoin the fastest, cheapest, and most secure way to send money anywhere? As long as the answer is yes then this is the infancy of bitcoin. The savings for businesses and individuals is worth trillions of dollars.
This also does apply to claims about immanent spikes and charts confidently predicting specific high prices in the future. As unsatisfying as it is, we are just going to have to wait and see what will happen.

[inca]

You really believe that there's an entire conspiracy behind the sporadic bearish movements of the market? I don't think it has to do anything with trolls. The days that trading bitcoin was happening between a handfull of forum members are long gone, there are very little things a troll can do to trigger downwards movements to a worldwide market with $20m daily volumes.

The only conspiracy in Bitcoin is the price being manipulated down and kept down through shorting and active price management through the latter half of 2014. My response was to just do what the big players have done and accumulate like hell over the last few months again at a rate similar to early 2013. Just my view of course.

At the end of the day btc is a gamble. If it pays off for me I'll buy a yacht. Not exactly life changing but worthy of a punt, and I believe in the concept of decentralised money so if it disappears into nothing I will be happy to have been involved.

Trolls are just useful idiots. NLC clearly has mental health issues and based on his user rating on his primary account is highly untrustworthy. Definitely one to avoid given his obsession with child pornography, though I grant that is difficult now he posts through brand new accounts (the others being banned by the mods) so all we can do us click ignore (4 times on this thread alone?).

[alani123]

Wouldn't the cost of keeping bitcoin's price down be enormous? We've seen some evidence of the opposite happening actually (willybot, MtGox bots etc.) but I've heard very few people claiming that the price is systematically being kept down. I know that certain companies and service providers are in direct competition with bitcoin and we can't really have proof that they don't have any involvement in bitcoin's markets. But claiming that the price doesn't follow the market's actual interest and is instead kept down is truly nothing more than a conspiracy theory.

Also speaking of trolls, if OP is the original americanpegasus reddit loves, he's not the most serious person here either.

[RodeoX]

@RodeoX: While I can't predict tomorrow's lotto numbers, I can tell you that any financial plan that pivots on buying lottery tickets is doomed to failure, because math & other learnings.
...

We agree there. Gambling is mathematically provably bad as an "investment". It's the casino that wins at gambling. But obviously my point is that no one can predict the future.

[gentlemand]

Wouldn't the cost of keeping bitcoin's price be enormous? We've seen some evidence of the opposite happening actually (willybot, MtGox bots etc.) but I've heard very few people claiming thatr the price is systematically being kept down. I know that certain companies and service providers are in direct competition with bitcoin and we can't really have proof that they don't have any involvement in bitcoin's markets. But claiming that the price doesn't follow the market's actual interest and is instead kept down is truly nothing more than a conspiracy theory.

I think the likelihood is that compared to 2013 there just ain't that many people who are excited about it at present. Unsexy but there's a good chance of it being true.

It's easy to let Gox slip the mind, but that must have wiped out a vast amount of market players and took a lot of enthusiasm with it. We'll continue feeling the effects for quite some time to come.  

[Chef Ramsay]

Good grief, 4+ socks in one thread. What a very unique and unhealthy individual. What gets me is how some people can authentically think that these are random newbs making posts when the MO is all the same w/ all the old tired pics and shit.

[mrhelpful]

Prices go down based on supply and demand. Not on troll movements lol.

If you know most gambling sites, they actually need to money launder to continue operations. Theres always a demand, its a matter how much a big difference they can get a discount but they still need the coin for easier operations.

Look 90% of transactions, guess where it goes? it goes to a gambling site, and they too also need the same.

[futureofbitcoin]

OH MY GOD, I read the comments in this thread, and after panicking for nearly 3 hours, I finally calmed down enough to log in to my account and was going to sell all my bitcoins.

But then I see some accusations that all of these people are the same person? What's going on? Is this a case of very rare multiple-conjoined twins? But apparently they always tell the truth, since trusted feedback said so? I'm confused! Should I SELL RIGHT NOW?

[alani123]

The hell with all the alts here... 

[RodeoX]

The hell with all the alts here... 

It's funny right. 
One guy arguing with everyone and trying to look like he is part of a group of like minded accounts. Wana see something hilarious ask him to place his money where his mouth is and bet. then it's all crickets and excuses. 

[futureofbitcoin]

The hell with all the alts here... 

It's funny right. 
One guy arguing with everyone and trying to look like he is part of a group of like minded accounts. Wana see something hilarious ask him to place his money where his mouth is and bet. then it's all crickets and excuses. 

That's not true. He just told me he's going 33% BTCeanie BTCabies. It seems he has also invested in 55-gallon drum of potable water that taste like plastic and piss. I guess people are getting tired of foie gras and caviar, and are turning to piss flavored water.

I am going to follow his great advice. You should too.

[RodeoX]

Stop hating on BTCeanie BTCabies and educate urself! BTCeanies work on the same principle as BTCit coin: artificial scarcity:
"The company's strategy of deliberate scarcity, producing each new design in limited quantity, restricting individual store shipments to limited numbers of each design and regularly retiring designs, created a huge secondary market for the toys and increased their popularity and value as a collectible."- http://en.wikipedia.org/wiki/Beanie_Babies
As a matter of fact, Satoshi stole the idea from the inventor of BTCeanie BTCabies.

And another thing: Guess if it was BTCeanies or BTCit coins that lost 3/4 of their value over the past year and a half?

Go ahead, guess!

Ah there is an actual argument. Are bitcoins like beanie babies in terms of their financial performance?
You correctly point out the flaw in "investing" in beanie babies. Since they are issued by a central authority the supply could be infinite. There are also problems with fungibility, but unknown supply is enough to preclude them from use as a currency of any kind. This was the same problem that led to the Tulip mania in Europe.
This problem is solved by Satoshi because the supply is known to all and is unchangeable. There will never be 21 million coins. Almost, but not quite. The rate of production is also known and comes to about 3600 per day at our current block reward. With bitcoin there is no "company" to manipulate anything. The loss of value of bitcoin is to be expected in a highly speculative market. Speculators guess, some too high. Then it falls back to Earth. Again and again and again.

[ElectricMucus]

Stop hating on BTCeanie BTCabies and educate urself! BTCeanies work on the same principle as BTCit coin: artificial scarcity:
"The company's strategy of deliberate scarcity, producing each new design in limited quantity, restricting individual store shipments to limited numbers of each design and regularly retiring designs, created a huge secondary market for the toys and increased their popularity and value as a collectible."- http://en.wikipedia.org/wiki/Beanie_Babies
As a matter of fact, Satoshi stole the idea from the inventor of BTCeanie BTCabies.

And another thing: Guess if it was BTCeanies or BTCit coins that lost 3/4 of their value over the past year and a half?

Go ahead, guess!

Ah there is an actual argument. Are bitcoins like beanie babies in terms of their financial performance?
You correctly point out the flaw in "investing" in beanie babies. Since they are issued by a central authority the supply could be infinite. There are also problems with fungibility, but unknown supply is enough to preclude them from use as a currency of any kind. This was the same problem that led to the Tulip mania in Europe.
This problem is solved by Satoshi because the supply is known to all and is unchangeable. There will never be 21 million coins. Almost, but not quite. The rate of production is also known and comes to about 3600 per day at our current block reward. With bitcoin there is no "company" to manipulate anything. The loss of value of bitcoin is to be expected in a highly speculative market. Speculators guess, some too high. Then it falls back to Earth. Again and again and again.

Bitcoins? Who cares, we want *random scroll on coinmarketcap*  Jinn.

And you know, they (probably) *are* Bitcoin, using the same exact software, just not the same leger.

[ElectricMucus]

I like how americanpegasus isn't cosidered a troll but speaks of trolls btw.

[fcvvp]

You haven't answered my question: over the past year and a half, what was a better investment, BTC or BTCeanies?

Let me answer this for him, BTCeanies BTCTCabies is a better investment than BTCitcoin.
BTCitcoin lost over 80% of it's value over the past year and a half and still keep dropping every few months to a lower level (800 - 600 - 400 - 200 - 100 - 1x - 0)

BTCitcoin ponzi scheme makes people poor.

https://i.imgur.com/XJawXgB.jpg

[Shiver]

You can pick any time frame that suits your statistics.  How about if you pick 6 years?

[chaoman]

Trolls? You mean peoople that realize what is going on and no longer live in an illusion?

Those trolls have been right about bitcoin being a sinking ship for over a year now...

weren't u the guy who sold for 10$?

[Fiat_Hodler]

Trolls? You mean peoople that realize what is going on and no longer live in an illusion?

Those trolls have been right about bitcoin being a sinking ship for over a year now...

weren't u the guy who sold for 10$?

If true, he must hate himself.

Every day he probably walks in front of a mirror and realises he couldve had his own island... but instead he fucked it up...

[Amph]

The hell with all the alts here...  

they are all falling alterego, no surprise there he is circumnavigating the ban

Trolls? You mean peoople that realize what is going on and no longer live in an illusion?

Those trolls have been right about bitcoin being a sinking ship for over a year now...

weren't u the guy who sold for 10$?

If true, he must hate himself.

Every day he probably walks in front of a mirror and realises he couldve had his own island... but instead he fucked it up...

well or he got out early and he hate himself now, or he want to short and he is trying to spread fud

[LFC_Bitcoin]

Great post OP.
Unfortunately you're right, there will always be trolls on the way up & on the way down.
It's human nature, some people have bitter, twisted lives & enjoy trying to spread their negative energy around other people (it's much more rife on the internet than in every day life).
We could be on 10,000 USD a coin right now & there would still be people preaching DOOM.

The best thing to do is ignore it people, with regards to bitcoin if you believe in it as a worthwhile investment / store of value just go about your business & don't be influenced by others.
Most trolls here probably don't own any coins or have very few & just want to hate on others.

(Don't anybody negative respond to this or it just outs you as a troll).