Greed is killing Bitcoin.

[Wekkel]

Those of us who were here through the 611 crash remember the atmosphere after it falling to 2 usd, when even many of the hard-core bitcoiners were doubting B the way they do now, and everyone else was celebrating the demise of B as the latest ponzi, bubble, scam, fad, flooz, etc.

What I'm thinking about is the old-fashioned rule that 'history rhymes' and that people tend to forget things after 2 weeks. If the hype remains absent, there will be buyers remorse and mined coins coming to the exchange each day. I think the next 2 weeks could be very dull with everyone staying put.

[cdog]

In my opinion the market cap of BTC needs to grow by a factor of 10 or more before the extreme volatility subsides enough for everyone to accept it.

[Bitsaurus]

Yeah, if Satoshi had only built the protocol to be Greed-Proof like the USD and Gold, then maybe BTC would've had a chance...  sad...

Yes!  The computer would be able to see the $ in your eyes and then donate your BTC to charity before you could spend it!

[yolo2222]

Yeah, if Satoshi had only built the protocol to be Greed-Proof like the USD and Gold, then maybe BTC would've had a chance...  sad...

Yes!  The computer would be able to see the $ in your eyes and then donate your BTC to charity before you could spend it!

+1

[gogxmagog]

All of this speculation and hoarding is making Bitcoin too unstable for merchants. Wasn't the point of Bitcoin to create an alternative currency meant for commerce? But with its current volatility, I personally would not accept Bitcoin in my trade of business.

The irony of Bitcoin is that most people are hoarding it so that they might trade it back for fiat currency in the future... That is what really saddens me.

if you look at world economics right now, everything is in a bubble state. You can invent a new currency but you cant control how people use it. If bitcoin can survive the PR damage of this recent bubble, it could eventually reach ubiquity, but we will have to see. The inherent integrity of the thing itself remains, its just the uninformed now think its some sort of scam. I predict in about 4 years we will see renewed trust and interest in the idea of a bitcoin economy amongst the laymen, hopefully by there could be some sort of safeguards against wild fluctuation in price. Controls on the exchanges maybe? I'm holding my BTC and waiting to see what happens. I'd love to be able to pay my rent and buy groceries with BTC and I hope that one single BTC would be worth a huge amount of said food and shelter. I'm not really sure how the community can help this happen though.

[wopwop]

All of this speculation and hoarding is making Bitcoin too unstable for merchants. Wasn't the point of Bitcoin to create an alternative currency meant for commerce? But with its current volatility, I personally would not accept Bitcoin in my trade of business.

The irony of Bitcoin is that most people are hoarding it so that they might trade it back for fiat currency in the future... That is what really saddens me.

if you look at world economics right now, everything is in a bubble state. You can invent a new currency but you cant control how people use it. If bitcoin can survive the PR damage of this recent bubble, it could eventually reach ubiquity, but we will have to see. The inherent integrity of the thing itself remains, its just the uninformed now think its some sort of scam. I predict in about 4 years we will see renewed trust and interest in the idea of a bitcoin economy amongst the laymen, hopefully by there could be some sort of safeguards against wild fluctuation in price. Controls on the exchanges maybe? I'm holding my BTC and waiting to see what happens. I'd love to be able to pay my rent and buy groceries with BTC and I hope that one single BTC would be worth a huge amount of said food and shelter. I'm not really sure how the community can help this happen though.

jesus my iq dropped reading this biased bs

[gogxmagog]

All of this speculation and hoarding is making Bitcoin too unstable for merchants. Wasn't the point of Bitcoin to create an alternative currency meant for commerce? But with its current volatility, I personally would not accept Bitcoin in my trade of business.

The irony of Bitcoin is that most people are hoarding it so that they might trade it back for fiat currency in the future... That is what really saddens me.

if you look at world economics right now, everything is in a bubble state. You can invent a new currency but you cant control how people use it. If bitcoin can survive the PR damage of this recent bubble, it could eventually reach ubiquity, but we will have to see. The inherent integrity of the thing itself remains, its just the uninformed now think its some sort of scam. I predict in about 4 years we will see renewed trust and interest in the idea of a bitcoin economy amongst the laymen, hopefully by there could be some sort of safeguards against wild fluctuation in price. Controls on the exchanges maybe? I'm holding my BTC and waiting to see what happens. I'd love to be able to pay my rent and buy groceries with BTC and I hope that one single BTC would be worth a huge amount of said food and shelter. I'm not really sure how the community can help this happen though.

jesus my iq dropped reading this biased bs

great argument! boy is my face red!
funny how last week this forum was all smug self-congradulations and digital high-fiving, now its just a cesspool of butthurt losers. whats the matter? gambled more than you could afford to lose? i didn't.

[gogxmagog]

AND...the only reason I had to invest in the first place is because I liked the idea. I like to put my "dollar vote" on things I see as good for society.  Even before the "don't invest more than you can afford to lose" rule, I follow a rule I learned in the art market. Buy it because you like it, because that may eventually turn out to be its ONLY value. my bias is towards the greater societal good bitcoin might afford individuals in a collapsing civilization. Too bad speculators destroy these egalitarian notions.

[dadrizforshizz]

What a stupid post. Maybe OP is Paul Krugman??? "ZOMG!!! PEOPLE ARE GREEDY"

Shut up and read an economics text book. Hoarding is a necessary function in markets. Without hoarding, aka saving, markets could not prepare for the future.

Buyers and Sellers (Supply and Demand) make the markets, not "hoarding"...why are you telling people to read econ textbooks when you know nothing of the subject?

[zeroday]

Greed is killing cowards.
Sold under 60 ? Looser! Now suck your finger and behold how it goes back to 100  

I can't believe I got it at $59  

[wopwop]

bitcoin is greed

[freedomno1]

http://www.cbc.ca/player/News/Business/ID/2375415659/
When Kevin O Leary Calls IN You know you can make money
A greed thread got to put up the dragon xd

[yolo2222]

bitcoin is greed

 

[MashRinx]

bitcoin is greed

No, Bitcoin is a cryptocurrency.  Greed requires emotion and I don't think Bitcoin is capable of that.

[grue]

bitcoin is greed

No, Bitcoin is a cryptocurrency.  Greed requires emotion and I don't think Bitcoin is capable of that.

symbolism kthx