I'm dumping my bitcoins so you should

[-Greed-]

It belongs here, not the speculation section.

I was always selling during this fake pump (you really never know when it ends) and will be more as it goes up and I'm not re-buying later even if price goes below $200. I won't regret even if it goes above $1000 someday when I sold two times cheaper. I think it was the last big pump we could ever see.

Someone might say that "I lost faith" but there should be no faith, common sense should be. Let's be frankly. Banks/governments will never use Bitcoin. Instead they will create own scalable blockchains. Normal people will never use Bitcoin. They simply don't need it. This means that bitcoin won't go mainstream and price won't get that high.

Just think how the US government/JP Morgan/BoFA will adapt a currency which majority of emission is held by some kids and cryptopunks. Also 1/21 of coins is held by some anon who calls himself "Satoshi". This is no serious. This is fucking ridiculous.

Comparing bitcoin capitalization with gold's is fucking ridiculous, too. Gold has got history of thousands of years and a lot of applications. Meanwhile Bitcoin is just a virtual asset that's been known for about 7 years and has got very poor applications. What is worse is that bitcoin is not really scalable.

Again. Comparing bitcoin capitalization with facebook's is even more ridiculous. Facebook is a large company that connects the entire planet. Holding Facebook stocks generates huge revenues. Meanwhile BTC is just a speculative virtual asset. Not scalable. Old. Always bloating. Not stable. It's even not decentralized!

Also, such a risk as banning Bitcoin in many countries must be considered. First of all, in China. Chinese government is a totalitarian one and they will finally ban bitcoin if it becomes a problem for them. Just like here, in Russia. European Union will likely ban using of bitcoin someday "to stop ISIS/terrorism financing". The US is not the world. The rest are weak/poor/small countries.

What about the upcoming block halving - price went down when the Litecoin halving happened. Expect the same when the Bitcoin's happens. Don't put into this hype or you will most likely be eaten by whales.

This all doesn't mean the whole crypto scene is doomed. No, absolutely not. I'm sure we will see new much better truly decentralized applications in the near future that will dominate/replace bitcoin. And not just bitcoin.

TLDR: Sell out your BTC; don't rebuy it. Invest in other blockchains. Also, don't get fooled by the "hodl" propaganda that makes you never get a profit while whales do because YOU buy&hold.

[LFC_Bitcoin]

What a shitty thread. **Thumbs down**

Are you a butthurt bear trying to get the price down so you can get in cheap or did you sell everything at 300?

[Post-Cosmic]

..What a shame, OP just destroyed** (see at bottom>) his otherwise great post, which albeit sounding a little 'frustrated' for lack of better words, nonetheless contained not 1, but 4 critically sound arguments about real issues to address - so much wisdom! ;o ->

[..]

Let's be frank*(?).

[1] Banks/governments will never use Bitcoin. Instead they will create own scalable blockchains. Normal people will never use Bitcoin. They simply don't need[/b] it. This means that bitcoin won't go mainstream and price won't get that high.

Just think how the US government/JP Morgan/BoFA will adapt a currency which majority of emission is held by some kids and cryptopunks. Also 1/21 of coins is held by some anon who calls himself "Satoshi". This is no serious. This is fucking ridiculous.

[2] Comparing bitcoin capitalization with gold's is fucking ridiculous, too. Gold has got history of thousands of years and a lot of applications. Meanwhile Bitcoin is just a virtual asset that's been known for about 7 years and has got very poor applications. What is worse is that bitcoin is not really scalable.

[3] Again. Comparing bitcoin capitalization with facebook's is even more ridiculous. Facebook is a large company that connects the entire planet. Holding Facebook stocks generates huge revenues. Meanwhile BTC is just a speculative virtual asset. Not scalable. Old. Always bloating. Not stable. It's even not decentralized!

[4] Also, such a risk as banning Bitcoin in many countries must be considered. First of all, in China. Chinese government is a totalitarian one and they will finally ban bitcoin if it becomes a problem for them. Just like here, in Russia. European Union will likely ban using of bitcoin someday "to stop ISIS/terrorism financing". The US is not the world. The rest are weak/poor/small countries.

**Here's the part that ruined this piece of pure wake-up-call wisdom, w/ it's strongly implied bias, especially confirmed when eyeing -Greed-'s signature, towards the altcoins' scene's all-too-typical "taxi cab driver AM radio conspiracy nut dreams of a new 20000x altcoin pump to trump BTC's" culture ( :"< oh well ) :

This all doesn't mean the whole crypto scene is doomed. No, absolutely not. I'm sure we will see new much better truly decentralized applications in the near future that will dominate/replace bitcoin. And not just bitcoin.

[r0ach]

It's another account the JIDF banking Zionists bought to use as a spam account like "Kwukduck"

[jerk]

I think it's safe to say the full bull run is about to begin...we always get these posts before a big run! Thanks OP!!!

[Snail2]

TLDR: Sell out your BTC; don't rebuy it. Invest in other blockchains. Also, don't get fooled by the "hodl" propaganda that makes you never get a profit while whales do because YOU buy&hold.

You have a point regarding government and bank adoption, but there's life outside of these sectors. Take a look at China. Yes, you are right bitcoin never going to be officially adopted but a lot of people adopted it on their own to get around the fiscal control rules. A lot of people also using it to evade the watching eyes of their authoritarian governments, other using it to avoid the fees of legacy money transfer networks, and so on. Of course there are lot of people with more sinister use cases, but we can tell the same about fiat, gold, whatever store of value. There will be always demand for a cheap and independent money transfer method.

[richardsNY]

I think it's safe to say the full bull run is about to begin...we always get these posts before a big run! Thanks OP!!!

It's just a matter of 1 or 2 months before the real bull run will start with a huge green candle just before the block halving. These are great times for holders as we know we will make nice profits.

[RoadTrain]

Someone might say that "I lost faith" but there should be no faith, common sense should be. Let's be frankly. Banks/governments will never use Bitcoin. Instead they will create own scalable blockchains. Normal people will never use Bitcoin. They simply don't need it. This means that bitcoin won't go mainstream and price won't get that high.

So much nonsense in one paragraph.

Banks/governments will never use Bitcoin. Instead they will create own scalable blockchains.

These 'blockchains' by no means can replace or compete with Bitcoin, because they destroy what Bitcoin offers: monetary sovereignty secured by massive hashing power.

Normal people will never use Bitcoin.

Normal people are already using it.

They simply don't need it.

Some don't, others do. You don't know how much upside potential for adoption is here, neither do I.

[helloeverybody]

Invest in other blockchains? Bitcoin is the no1 cryptocurrency and has no signs of slowing down, i dont know what other altcoins you would suggest and i also dont know why you would sell so close to the halfing. Theres a whole load of reasons why bitcoin can and most likely will be rising further in price, even if this is market manipulation which we cant say for sure theres still a good chance that the price is going to go skywards.

[BitUsher]

It is ridiculous to assume that the overhead from regulation/staff/legal is more efficient than electricity and math. Banks and governments will never be able to compete with bitcoin as they have legal obligations which carries counterparty risk. Bitcoin is soveriegn and allows for regulatory arbitrage. The OP is missing the mark by ignoring the truly powerful aspects of bitcoin which can't and won't be replicated by banks - Proof of work, No KYC = Privacy and less risk of identity theft, and an immutable blockchain.

Do you really assume that Bank blockchains will be immutable even when legislators , regulators and judges demand a tx reversal?

It is likely the OP is merely trying to scare some weak hands so he can buy cheap bitcoins before the next bubble.

[Slark]

Everything Op said about bitcoin can be clearly transferred as depiction of FIAT. That mean FIAT is totally worthless asset an I should abandon it and invest in natural commodities such as gold or platinum?
I don't think so, so far bitcoin has been quite successful despite its short history I don't see any indicators of failure approaching.

[Holliday]

I'm having tacos for lunch.

Edit: So should you! Tacos, after all, are delicious.

[target]

was OP's account bought?

if the government / banks are creating their own, then that's not decentralized.  Even if btc isn't going to be mainstream, i won't use what they are inventing.
btc isn't mainstream even today but look at its value.

[suda123]

I think it's safe to say the full bull run is about to begin...we always get these posts before a big run! Thanks OP!!!

Oh fuck hes catching on, and the number of posts around 50, your going to go far kid...

[mtnsaa]

The only point I agree is that there should be no faith or worse blind faith, but the rest is just complete speculation on your part. Yes it can be valued at $200 but it can also find support at $800 or whatever with the halving coming. Perhaps in 2018 Bitcoin is no more. If you feel this is a good time to sell, I won't really argue with that because to me it's not a good time to buy, so you may be right on that.

Personally, I would never sell even at $1000 because it won't change my life, Bitcoin price keeps increasing every year since it started, it may fail eventually, but so far it's a great annual investment if you happened to bought at a decent price (I bought at $230 which it's still a lot of many)

[BitcoinNewsMagazine]

Proof positive that Hero Rank means zilch.

[Karpeles]

I dumped in the last mini dump/sidewasys. Now I'm desperate trying to rebuy at the same price I sold, or at least don't lose too much.

Don't be like me.

[r0ach]

Proof positive that Hero Rank means zilch.

It's a bought account like Kwukduck.  Bankers just buy them and spam jibberish.

[JimboToronto]

Proof positive that Hero Rank means zilch.

Even NLC would be a Hero by now if her original account hadn't been banned.

Half the Hero Members didn't even sign on until the last bubble was already underway.

[RodeoX]

I think you are still fighting a battle we have already won. Its to late to put the genie back in the bottle and payment will never be the same again.