adamstgBit (OP)
Legendary
 Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
 |
April 09, 2013, 01:05:26 AM |
|
Bitcoin is not in a bubble!this is a correction due high adoption, i believe the market price is still very much underestimating the magnitude of adoption happening right now. people will start to use bitcoin to buy stuff from friends and pretty soon all kinds of people will order pizza in bitcoin. some pizzerias will find suppliers willing to take bitcoin as payment ( keep reading its about to get wild!  ) all of a sudden everyone in the world wants to give this bitcoin thing "a try" thats when the speculators get really fucking scared and literally start DUMPING all their dollars into bitcoin, so.... who is going to hold all these dollars traded for bitcoin? NO ONE WILL want these fucking dollars, this will create massive amounts of inflation, the likes of which the world has never seen b4, creating even more demand for the coins, which inturn creates even more inflation!!! 7 days later all banks are bankrupt as everyone takes control of their money. In the end 1BTC = 1 million BigMacs ( dollars will be worthless, so we will have to price bitcoin in BigMacs naturally ) 
|
|
|
|
|
|
|
|
|
"Bitcoin: mining our own business since 2009" -- Pieter Wuille
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
zkay
|
|
April 09, 2013, 01:09:52 AM |
|
Bitcoin is not in a bubble!this is a correction due high adoption, i believe the market price is still very much underestimating the magnitude of adoption happening right now. people will start to use bitcoin to buy stuff from friends and pretty soon all kinds of people will order pizza in bitcoin. some pizzerias will find suppliers willing to take bitcoin as payment ( keep reading its about to get wild! ) all of a sudden everyone in the world wants to give this bitcoin thing "a try" thats when the speculators get really fucking scared and literally start DUMPING all their dollars into bitcoin, so.... who is going to hold all these dollars traded for bitcoin? NO ONE WILL want these fucking dollars, this will create massive amounts of inflation, the like of which the world has never seen b4, creating even more demand for the coins, which inturn creates even more inflation!!! 7 days later all banks are bankrupt as everyone takes control of their money. In the end 1BTC = 1 million BigMacs  |
|
|
|
|
hubbabubbabaker
Member
Offline
Activity: 98
Merit: 10
Sometimes - history needs a push.
|
|
April 09, 2013, 01:13:46 AM |
|
|
"To know your Enemy, you must become your Enemy." -Sun Tzu
|
|
|
|
evolve
|
|
April 09, 2013, 01:20:05 AM |
|
Bitcoin is not in a bubble!
 |
|
|
|
|
adamstgBit (OP)
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
April 09, 2013, 01:56:23 AM |
|
|
|
|
|
|
|
|
Tirapon
|
|
April 09, 2013, 02:05:59 AM |
|
LMAO!!! Love the way proudhon is the lone voice of the bears! |
|
|
|
|
TheKoziTwo
Legendary
Offline
Activity: 1552
Merit: 1047
|
|
April 09, 2013, 02:18:20 AM |
|
|
|
|
|
BitcoinTate
Full Member
Offline
Activity: 224
Merit: 100
DigiByte Founder
|
|
April 09, 2013, 02:26:24 AM |
|
Lol! I thought we established it's not a bubble... it's a snowball!
|
- aka The "DigiMan"
|
|
|
seleme
Legendary
Offline
Activity: 2772
Merit: 1028
Duelbits.com
|
|
April 09, 2013, 02:47:02 AM |
|
Bitcoin can be massively adopted only when it would have some price stability.
No chance we'll see people spending lot of their bitcoins because they hope it's value will rise and no chance we'll see merchants massively accepting bitcoins when there is a constant fear of bubble and crash.
It's simple as that, some tech internet companies might adapt it but until bitcoins stop to be hugely speculative stuff there'll be no mass adoption.
|
|
|
|
BitcoinTate
Full Member
Offline
Activity: 224
Merit: 100
DigiByte Founder
|
|
April 09, 2013, 02:50:14 AM |
|
Bitcoin can be massively adopted only when it would have some price stability.
No chance we'll see people spending lot of their bitcoins because they hope it's value will rise and no chance we'll see merchants massively accepting bitcoins when there is a constant fear of bubble and crash.
It's simple as that, some tech internet companies might adapt it but until bitcoins stop to be hugely speculative stuff there'll be no mass adoption.
How do you define mass adoption? People spending their BTC? Or people hoarding their BTC? Still mass adoption of the coin either way. And as all the data suggests do to bank account confiscations and precious metal confiscations now occurring in Europe there is a flood of people adopting BTC. |
- aka The "DigiMan"
|
|
|
|
Tirapon
|
|
April 09, 2013, 02:50:35 AM |
|
Once you've seen a decent return on your coins, you feel happy to spend a few. I tend to imagine them as the price which I bought in at, and everything just keeps getting cheaper. If we ever see the day when I can pay for a new car in Bitcoin, I will probably buy one - and it will probably cost me about £10  |
|
|
|
|
BitcoinTate
Full Member
Offline
Activity: 224
Merit: 100
DigiByte Founder
|
|
April 09, 2013, 02:52:59 AM |
|
Once you've seen a decent return on your coins, you feel happy to spend a few. I tend to imagine them as the price which I bought in at, and everything just keeps getting cheaper. If we ever see the day when I can pay for a new car in Bitcoin, I will probably buy one - and it will probably cost me about £10 Shit... i'm already there  It is a good feeling to have! And yet I having nothing to some early adopters that have thousands of coins. |
- aka The "DigiMan"
|
|
|
|
Tirapon
|
|
April 09, 2013, 02:59:04 AM |
|
My only regret so far is that I didn't buy in sooner. I could have had twice as many coins... But I still feel incredibly lucky and priviliged that I got in when I did.
|
|
|
|
|
BitcoinTate
Full Member
Offline
Activity: 224
Merit: 100
DigiByte Founder
|
|
April 09, 2013, 03:02:59 AM |
|
My only regret so far is that I didn't buy in sooner. I could have had twice as many coins... But I still feel incredibly lucky and priviliged that I got in when I did.
That's the best way to look at it. Just imagine BTC at $50,000. Over time early adopters will slowly cash out and the average # of BTC held per person will go down. |
- aka The "DigiMan"
|
|
|
hubbabubbabaker
Member
Offline
Activity: 98
Merit: 10
Sometimes - history needs a push.
|
|
April 09, 2013, 03:06:55 AM |
|
Any price point speculations for tomorrow? I'm thinking it will rally after it hits 200 and go up to 210-220 then take a dip back down to the 200s.
|
"To know your Enemy, you must become your Enemy." -Sun Tzu
|
|
|
|
Tirapon
|
|
April 09, 2013, 03:07:39 AM |
|
My only regret so far is that I didn't buy in sooner. I could have had twice as many coins... But I still feel incredibly lucky and priviliged that I got in when I did.
That's the best way to look at it. Just imagine BTC at $50,000. Over time early adopters will slowly cash out and the average # of BTC held per person will go down. *If* it gets that high, (and its still a big if) there won't be any cashing out as such - just people buying their yachts etc. directly with coins. |
|
|
|
|
|
Tirapon
|
|
April 09, 2013, 03:12:21 AM |
|
Any price point speculations for tomorrow? I'm thinking it will rally after it hits 200 and go up to 210-220 then take a dip back down to the 200s.
I'd rather not break 200 tomorrow. Can't we level out again just for a few more days, just around 190-195? Just give us a chance to breathe, please! |
|
|
|
|
seleme
Legendary
Offline
Activity: 2772
Merit: 1028
Duelbits.com
|
|
April 09, 2013, 04:17:44 AM |
|
Bitcoin can be massively adopted only when it would have some price stability.
No chance we'll see people spending lot of their bitcoins because they hope it's value will rise and no chance we'll see merchants massively accepting bitcoins when there is a constant fear of bubble and crash.
It's simple as that, some tech internet companies might adapt it but until bitcoins stop to be hugely speculative stuff there'll be no mass adoption.
How do you define mass adoption? People spending their BTC? Or people hoarding their BTC? Still mass adoption of the coin either way. And as all the data suggests do to bank account confiscations and precious metal confiscations now occurring in Europe there is a flood of people adopting BTC. I define it the mass adoption as OP said it - paying pizza with it, pizzerias paying suppliers, they paying their suppliers etc.. No chance those kind of businesses are going to massively adapt bitcoins unless it's tied with fiat value. Supplier doesn't want to sell his good to pizzeria just to find that bitcoin went 15% down while he was driving back what would eat all his profit on that transaction. |
|
|
|
adamstgBit (OP)
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
April 09, 2013, 04:22:36 AM |
|
Bitcoin can be massively adopted only when it would have some price stability.
No chance we'll see people spending lot of their bitcoins because they hope it's value will rise and no chance we'll see merchants massively accepting bitcoins when there is a constant fear of bubble and crash.
It's simple as that, some tech internet companies might adapt it but until bitcoins stop to be hugely speculative stuff there'll be no mass adoption.
How do you define mass adoption? People spending their BTC? Or people hoarding their BTC? Still mass adoption of the coin either way. And as all the data suggests do to bank account confiscations and precious metal confiscations now occurring in Europe there is a flood of people adopting BTC. I define it the mass adoption as OP said it - paying pizza with it, pizzerias paying suppliers, they paying their suppliers etc.. No chance those kind of businesses are going to massively adapt bitcoins unless it's tied with fiat value. Supplier doesn't want to sell his good to pizzeria just to find that bitcoin went 15% down while he was driving back what would eat all his profit on that transaction. they can all use bitpay and secure their earning in USD at the time of the TX, wont make a difference, its still going to snowball! "good money drives out bad money" or something like that... |
|
|
|
|
