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dakota neat
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December 17, 2014, 11:43:04 AM |
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Really looks like that bitcoin failed as an experiment
Capitalism and Democracy failed also, so what? |
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"You Asked For Change, We Gave You Coins" -- casascius
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VoR0220
Newbie
 Offline
Activity: 24
Merit: 0
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December 17, 2014, 11:43:30 AM |
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Really looks like that bitcoin failed as an experiment
I think that it is still working as the technical experiment that it was meant to be: a test of whether the PoW/reward/majority protocol would indeed motivate miners to mine, and prevent sabotage of a decentralized ledger. Bitcoin was not meant to be a replacement or alternative to credit cards, a sound investment, a way to evade law enforcement, to weaken governments, to turn losers into millionaires, etc.. Others appropriated it and have been trying to redefine it as some or all of these things. The technical experiment has worked for five years in spite of (not because of) its massive "adoption" by half a million people for those purposes. From the purely technical point of view, the only problem that has surfaced in these 6 years is the centralization of mining, due to use of specialized chips and economies of scale. That development was not expected, and may be technically its failure. Bitcoin may be failing only for some of the things it was never meant to be used for. Not at all. Even if bitcoin dies (I highly doubt it is anytime soon. There's so much venture capital being pumped into this to expand infrastructure and I read more and more about different companies accepting it.) The price is going to bottom out soon. It's going to stabilize roughly around this range. Maybe go up higher in value as more mainstream acceptance becomes apparent. At the worst what the experiment shows is that a deflationary currency is not sustainable. At best it shows that a deflationary currency is sustainable and shrouds the world in blockchain technology. That is where bitcoin will make the biggest difference. The blockchain. Bitcoin may die. But the altcoins are going to carry on. For sure. |
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noobtrader
Legendary
Offline
Activity: 1456
Merit: 1000
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December 17, 2014, 11:44:36 AM |
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i wonder if i should buy ripple   |
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findftp
Legendary
Offline
Activity: 1022
Merit: 1006
Delusional crypto obsessionist
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December 17, 2014, 11:45:26 AM |
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Too bad 320 is a fake wall.
We will go much lower.
This wall is driven by hopium.
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mrkavasaki
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December 17, 2014, 11:45:56 AM |
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Of course bitcoin failed as an experiment  |
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NotLambchop
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December 17, 2014, 11:46:17 AM |
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BTC is dead
But now is Bitcoin risen from the dead, and become the firstfruits of them that slept. For as in dollar all die, so also in Bitcoin all will be made alive.  |
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janos666
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December 17, 2014, 11:48:06 AM |
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Don't be stupid. It's becoming a bloodbath. But it's not Bitcoin's blood. It's yours. (If you happened to make a trading mistake, that is. But you knew you are going to be gambling, right...?)
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findftp
Legendary
Offline
Activity: 1022
Merit: 1006
Delusional crypto obsessionist
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December 17, 2014, 11:49:20 AM |
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Too bad 320 is a fake wall.
We will go much lower.
This wall is driven by hopium.
Well, that escalated rather quickly  Come on, my bids are way lower |
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mrkavasaki
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December 17, 2014, 11:50:24 AM |
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200s here we Come  |
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Mickeyb
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December 17, 2014, 11:52:40 AM |
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i wonder if i should buy ripple Of course you should, didn't you hear the news? Ripple is new Bitcoin!! Go and exchange all of your BTCs for Ripple!! |
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DaRude
Legendary
Offline
Activity: 2779
Merit: 1791
In order to dump coins one must have coins
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December 17, 2014, 11:53:16 AM |
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Leveraged longs are being squeezed
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gizmoh
Legendary
Offline
Activity: 1428
Merit: 1000
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December 17, 2014, 11:53:25 AM |
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mrkavasaki
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December 17, 2014, 11:55:08 AM |
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Mrbitcorn was right, bitcoin will drop to below 10 Dollars
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DaRude
Legendary
Offline
Activity: 2779
Merit: 1791
In order to dump coins one must have coins
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December 17, 2014, 11:57:13 AM |
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I am a troll
Shooo on ignore list you go |
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Thomas-s
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December 17, 2014, 11:59:34 AM |
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Buy orders at 260.
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600watt
Legendary
Offline
Activity: 2338
Merit: 2106
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December 17, 2014, 11:59:54 AM |
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i found a solution !  This price is currently ignored.
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findftp
Legendary
Offline
Activity: 1022
Merit: 1006
Delusional crypto obsessionist
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December 17, 2014, 12:00:07 PM |
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Buy orders at 260.
I'll take some @ 270 |
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ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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December 17, 2014, 12:00:27 PM |
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Criterion
Member
Offline
Activity: 73
Merit: 10
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December 17, 2014, 12:01:17 PM |
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sniveling
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December 17, 2014, 12:01:25 PM |
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Mrbitcorn was right, bitcoin will drop to below 10 Dollars
No he predicted bitcorn would drop to below 10 Dollars, not bitcoin. Bitcorn's probably some shit coin nobody's heard of. |
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