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Author Topic: Let's face it  (Read 1377 times)
bennybong
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June 23, 2016, 12:06:28 AM
 #1

It's time we stop denying and start accepting, enough of these posts saying, "What is happening to Bitcoin?" Let's face it guys because regardless of how you sugarcoat it, Bitcoin IS failing. The temporary rises and falls are nothing but the aftermath of the bubble, it will most likely NEVER rise above its previous peak like some of these delusional investors think. Bitcoin is now dominated by market manipulators and petty traders who feed of the scraps of these manipulators. There is absolutely no reason for the price to rise because after the supply halving because a currency's value depends ENTIRELY on the belief of its users and ULTIMATELY not the supply. It's time to face facts and accept what has been happening since the time the bubble "popped". Bitcoin has been rising and falling on a downward trend. Yes, the price rises but falls back to where it was and never beats the highest peak.

Bitcoin is a failure guys its time we face facts and stop being delusional.
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June 23, 2016, 12:08:38 AM
 #2

It's time we stop denying and start accepting, enough of these posts saying, "What is happening to Bitcoin?" Let's face it guys because regardless of how you sugarcoat it, Bitcoin IS failing. The temporary rises and falls are nothing but the aftermath of the bubble, it will most likely NEVER rise above its previous peak like some of these delusional investors think. Bitcoin is now dominated by market manipulators and petty traders who feed of the scraps of these manipulators. There is absolutely no reason for the price to rise because after the supply halving because a currency's value depends ENTIRELY on the belief of its users and ULTIMATELY not the supply. It's time to face facts and accept what has been happening since the time the bubble "popped". Bitcoin has been rising and falling on a downward trend. Yes, the price rises but falls back to where it was and never beats the highest peak.

Bitcoin is a failure guys its time we face facts and stop being delusional.


so you lost a bunch of money this week huh?
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June 23, 2016, 12:08:51 AM
 #3

Count of my ignore list has increased by +1

Quote from:  Satoshi Nakamoto
Feb. 14, 2010: I’m sure that in 20 years there will either be very large transaction volume or no volume.
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June 23, 2016, 12:12:01 AM
 #4

I think the OP is trying to say that we should all pull out and invest in Avatar coin, whatever the fuck that shitcoin is  Roll Eyes

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June 23, 2016, 12:27:13 AM
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Quote
so you lost a bunch of money this week huh?

Nope, I've just been watching the markets from a neutral standpoint and I am not basing my opinions on emotion rather I'm simply basing them on logic.

Didn't know people get angry when you spoke the truth. The truth does hurt sometimes though.

No I am not trolling, stop making idiotic inferences.
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June 23, 2016, 12:38:32 AM
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Yeah, I feel sad about those people who bought at 700+ just last week. Hang on a little bit, we will rise again in November/December this year.

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June 23, 2016, 12:38:41 AM
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so you lost a bunch of money this week huh?

Nope, I've just been watching the markets from a neutral standpoint and I am not basing my opinions on emotion rather I'm simply basing them on logic.

Didn't know people get angry when you spoke the truth. The truth does hurt sometimes though.

No I am not trolling, stop making idiotic inferences.


What logic? Pray tell? Even if the price crashes below $... How exactly has it failed?
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June 23, 2016, 01:04:46 AM
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Logic?  Bahahahahaha!  OK, sure  Roll Eyes

BTFD!  Cheesy FTW and the Banks!  Grin
bennybong
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June 23, 2016, 01:06:59 AM
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so you lost a bunch of money this week huh?

Nope, I've just been watching the markets from a neutral standpoint and I am not basing my opinions on emotion rather I'm simply basing them on logic.

Didn't know people get angry when you spoke the truth. The truth does hurt sometimes though.

No I am not trolling, stop making idiotic inferences.


What logic? Pray tell? Even if the price crashes below $... How exactly has it failed?

That was clearly stated within my post.

The logic that the price of Bitcoin has been falling and rising since the last highest peak while not beating that highest point even once. A business, currency or country succeeds when it continually grows. Continual growth is what investors look for. Since Bitcoin has not met that standard it has essentially failed.

Also, Bitcoin behaves like any other bubble which has its peak point and then collapses never to rise above that peak point. Bubbles are never good investments even if they profit, because they are highly risky. Investors in their right minds fiat or otherwise would not invest in bubbles.

I'm sure that EXACTLY answers your question.
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June 23, 2016, 01:12:44 AM
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Just because bitcoin is dropping doesnt mean its' failing. There is a strong demand for bitcoin, for value and even for business. You can't say that PayPal has the same demand as Bitcoin.
bennybong
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June 23, 2016, 01:19:03 AM
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Just because bitcoin is dropping doesnt mean its' failing. There is a strong demand for bitcoin, for value and even for business. You can't say that PayPal has the same demand as Bitcoin.

Lol, PayPal is more used and has far more demand than Bitcoin.
bennybong
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June 23, 2016, 01:21:19 AM
 #12

$578 now.
Just saying.
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June 23, 2016, 01:30:37 AM
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$578 now.
Just saying.

Touching 550 right now  Grin
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June 23, 2016, 01:32:27 AM
 #14

Is the price chart over the last couple days the only measure you're using to conclude it's failing?  What about hashrate and daily transactions over the last 2 years?   What about VC money over the last 2 years?
The Pharmacist
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June 23, 2016, 01:33:48 AM
 #15

Nah.  Bitcoin is falling, yes, but this is just the remarkable volatility we've seen since its inception--nothing more, nothing less.  I definitely would not call this a failure.  Just up and down-ness.

jaredboice
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June 23, 2016, 01:39:33 AM
 #16

Just because bitcoin is dropping doesnt mean its' failing. There is a strong demand for bitcoin, for value and even for business. You can't say that PayPal has the same demand as Bitcoin.

Lol, PayPal is more used and has far more demand than Bitcoin.


http://www.newsbtc.com/2015/12/18/bitcoin-to-overtake-paypal-and-established-financial-companies-in-transaction-volumes/

https://www.cryptocoinsnews.com/bitcoin-set-overtake-paypal-2014/

I wouldn't say FAR more demand
jhenfelipe
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June 23, 2016, 01:58:35 AM
 #17

No one knows what will happen with the price of bitcoin. Maybe it falls today, but it can rise anytime. We can't just say that bitcoin fails because of price fall. Considering all the improvements of bitcoin including the acceptance of people and businesses, I can say that bitcoin is not a failure, it's indeed successful.
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June 23, 2016, 02:38:07 AM
 #18

I dont think so, price is still at $500+ and thats a good amount. From 4digit price before into less than $200 and get up again. Price is at $500+ its so early to say btc is a failure.


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Denker
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June 23, 2016, 07:27:26 AM
 #19

OP is either in a bad mood 'cause he lost some money or he is just trolling for whatever reason.
After this correction we will have a higher bottom than the last one!That's a positive sign!
And it would be great if you do not just have price in mind.What about the fundamentals?
Bitcoin is going the right way!No reason to be pessimistic or freaking out.
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June 23, 2016, 08:02:17 AM
 #20

... Bitcoin IS failing. ...

you are failing in your first comment.
how is bitcoin failing if it is still being used as a way to transfer money, payments,... and there is still a lot of services that are accepting bitcoin and new services that start doing it.
so how is bitcoin failing when we all can still send bitcoin to anybody in the world. bitcoin is meant to be a p2p cash afterall.

and about the price, all i can see is rising over time. when you look at a short time you should only see a short chance, but you have to look at the bigger picture here. all i see is rise from $1 in 2012 to $600 in 2016
and if you are looking for an always-rising-price then you are out of luck because there will always be bubbles and burs to come down again and the bubble size WILL decrease over time as the market gets bigger and panicy newbies are fewer.

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