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ehoffman (OP)
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July 05, 2013, 10:35:04 AM |
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Well, for the anti-bears out there, think about this. Sure it would be nice to see the price start to rise. But, honestly, do you have any plausible reason why Bitcoin would go up? - MtGox unfreezing payout? Well, even if technically unfrooze, they still keep a 2 week delay. Some say that it's because they really lack liquidity and they want to have some cash inflow to pay for the outflow (à la Ponzi). In any case, we can forget that as the trend changer. - Winlevoss fund? Well, those things take time. It won't happen tomorrow for sure. And even if it happen soon, do you think people will invest just for that? There's nothing to back it up except for the speculative/hype aspect of it. Fundamentally, the hype is already gone, and there's no real economy put forward here. - Paypal won't go Bitcoin for a while. It's under U.S. laws and probably don't want all the hassle of registering, etc. - Any big player jumping into Bitcoin? Who would risk it? The buzz is gone. - Anything else? On the negative side though there's just more and more that pile up against Bitcoin. So, do you really just hold in hope that some magical power would suddenly change the trend? In hope that it may rise for unforeseen reason? Do you really think such a rise would be sustained? How much do you think the price would rise over the course of several weeks? 10%, 20%, 50%? Really, that sort of thing happened last time because there was sustained news, hype, media attention, coordinated turn of events. Really, the buzz is gone. People who had the chance to learn about Bitcoin already know about it by now. The medias already have forgotten about it... Old story, nothing new. I'm telling you, the future does not look bright. And I don't see anything that would sustain a rise, let alone a change of trend. So, before speculating that the price may rise, and jump back in if it goes up by 5%, think more than a week ahead. The golden days are behind. I don't say that it's over, just that the magic is no longer there. Price may stabilize, but the fundamental problem is there, Bitcoin is still and always had been a virtual speculative hype. And it's now being seen as a threat by the U.S. govt./banks. It will only get beaten more and more, and with more fierceness as the price go up, and as more people invest in it. Bitcoin is still a child. It's not seen anywhere as a serious option for the future. Way too much fluctuation. Way to much uncertainties. That's my opinion, just my 2¢... And please, lawful believers and undeniable bulls, put to good use your freedom of speech and don't hesitate to flame me! That's what the speculative forum is for  But I think it's time to take a break for a moment and do a reality check. |
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Rampion
Legendary
 Offline
Activity: 1148
Merit: 1018
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July 05, 2013, 10:37:57 AM |
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The reason for Bitcoin to go up again is for it to reach its bottom, becoming undervalued and thus a good investment again.
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lucas.sev
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July 05, 2013, 10:38:49 AM |
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Because people will forget and history tends to repeat itself.
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bitwhizz
Legendary
Offline
Activity: 910
Merit: 1000
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July 05, 2013, 10:47:11 AM |
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Because people will forget and history tends to repeat itself.
+100 People have short term memory 99 out of 100 people don;t know about bitcoin( and the ones your thinking in your head who do probably only know it becouse of you) Bitcoins infrastructure is growing more people will use it 6 billion people trillions of dollars in the world only 21 million bitcoins, bitcoins can be divided into 7 decimal places so if it does go up or down its irrelevant, its meant to be a currency anyways |
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lucas.sev
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July 05, 2013, 11:13:42 AM |
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6 billion people
trillions of dollars in the world
only 21 million bitcoins, bitcoins can be divided into 7 decimal places so if it does go up or down its irrelevant, its meant to be a currency anyways
4h confirmations, 12 transactions per second (correct me if I'm wrong), yeah what a fantastic currency  |
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4mherewego
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July 05, 2013, 11:14:51 AM |
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The same reason TCP/IP prevailed. It works, was first and technology demands it.
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tokeweed
Legendary
Offline
Activity: 3948
Merit: 1408
Life, Love and Laughter...
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July 05, 2013, 11:34:06 AM |
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Well, for the anti-bears out there, think about this. Sure it would be nice to see the price start to rise. But, honestly, do you have any plausible reason why Bitcoin would go up? - MtGox unfreezing payout? Well, even if technically unfrooze, they still keep a 2 week delay. Some say that it's because they really lack liquidity and they want to have some cash inflow to pay for the outflow (à la Ponzi). In any case, we can forget that as the trend changer. - Winlevoss fund? Well, those things take time. It won't happen tomorrow for sure. And even if it happen soon, do you think people will invest just for that? There's nothing to back it up except for the speculative/hype aspect of it. Fundamentally, the hype is already gone, and there's no real economy put forward here. - Paypal won't go Bitcoin for a while. It's under U.S. laws and probably don't want all the hassle of registering, etc. - Any big player jumping into Bitcoin? Who would risk it? The buzz is gone. - Anything else? On the negative side though there's just more and more that pile up against Bitcoin. So, do you really just hold in hope that some magical power would suddenly change the trend? In hope that it may rise for unforeseen reason? Do you really think such a rise would be sustained? How much do you think the price would rise over the course of several weeks? 10%, 20%, 50%? Really, that sort of thing happened last time because there was sustained news, hype, media attention, coordinated turn of events. Really, the buzz is gone. People who had the chance to learn about Bitcoin already know about it by now. The medias already have forgotten about it... Old story, nothing new. I'm telling you, the future does not look bright. And I don't see anything that would sustain a rise, let alone a change of trend. So, before speculating that the price may rise, and jump back in if it goes up by 5%, think more than a week ahead. The golden days are behind. I don't say that it's over, just that the magic is no longer there. Price may stabilize, but the fundamental problem is there, Bitcoin is still and always had been a virtual speculative hype. And it's now being seen as a threat by the U.S. govt./banks. It will only get beaten more and more, and with more fierceness as the price go up, and as more people invest in it. Bitcoin is still a child. It's not seen anywhere as a serious option for the future. Way too much fluctuation. Way to much uncertainties. That's my opinion, just my 2¢... And please, lawful believers and undeniable bulls, put to good use your freedom of speech and don't hesitate to flame me! That's what the speculative forum is for But I think it's time to take a break for a moment and do a reality check. hype. |
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niothor
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July 05, 2013, 11:41:15 AM |
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The reason for Bitcoin to go up again is for it to reach its bottom, becoming undervalued and thus a good investment again.
When you fall from point A 20m to point B and climb 10m to point C , .....it's really called a raise ? |
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Buffer Overflow
Legendary
Offline
Activity: 1652
Merit: 1015
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July 05, 2013, 11:44:11 AM |
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It works, was first and technology demands it.
Not necessary because of being first. Google was the 20th search engine to emerge. It learnt from all it's previous competitors mistakes. |
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4mherewego
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July 05, 2013, 11:57:26 AM |
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It works, was first and technology demands it.
Not necessary because of being first. Google was the 20th search engine to emerge. It learnt from all it's previous competitors mistakes. Google is a service provider, not a standard. |
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klee
Legendary
Offline
Activity: 1498
Merit: 1000
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July 05, 2013, 12:02:59 PM |
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BTC's only hope is 0coin - period.
Back in 2011 bubble THERE WERE NO ALTERNATIVES!!!!
Damn I hate to be Cassandra but people don't seem to realize that it is a digital product - in a matter of hours a better product can make an older one obsolete...
It is happening right now as we talk - check in BTC-e PPC, TRC, NMC and LTC to BTC ratios.
If that was not enough go and check XRP which is a whole different animal...
DESPITE they fall in USD along with BTC - in fact this is what scares me most! People prefer to go to an alt than fiat...
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klee
Legendary
Offline
Activity: 1498
Merit: 1000
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July 05, 2013, 12:05:21 PM |
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The reason for Bitcoin to go up again is for it to reach its bottom, becoming undervalued and thus a good investment again.
There are bottoms in other coins NOW! No need for a speculator to wait IMO. Everybody imagine Dread Pirate Roberts saying he opts to x_coin+0coin... |
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circuitry
Member
Offline
Activity: 61
Merit: 10
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July 05, 2013, 12:09:04 PM |
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BTC's only hope is 0coin - period.
Back in 2011 bubble THERE WERE NO ALTERNATIVES!!!!
Damn I hate to be Cassandra but people don't seem to realize that it is a digital product - in a matter of hours a better product can make an older one obsolete...
It is happening right now as we talk - check in BTC-e PPC, TRC, NMC and LTC to BTC ratios.
If that was not enough go and check XRP which is a whole different animal...
DESPITE they fall in USD along with BTC - in fact this is what scares me most! People prefer to go to an alt than fiat...
I will believe in alternative cryptocurrencies when I see Silk Road using them. |
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klee
Legendary
Offline
Activity: 1498
Merit: 1000
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July 05, 2013, 12:11:49 PM |
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BTC's only hope is 0coin - period.
Back in 2011 bubble THERE WERE NO ALTERNATIVES!!!!
Damn I hate to be Cassandra but people don't seem to realize that it is a digital product - in a matter of hours a better product can make an older one obsolete...
It is happening right now as we talk - check in BTC-e PPC, TRC, NMC and LTC to BTC ratios.
If that was not enough go and check XRP which is a whole different animal...
DESPITE they fall in USD along with BTC - in fact this is what scares me most! People prefer to go to an alt than fiat...
I will believe in alternative cryptocurrencies when I see Silk Road using them. +1 If someone is a BTC believer this must be his main concern - not high life conferences and bitcoin celebrities praising their interests... |
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ChanceCoats123
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July 05, 2013, 12:16:07 PM |
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It works, was first and technology demands it.
Not necessary because of being first. Google was the 20th search engine to emerge. It learnt from all it's previous competitors mistakes. Bitcoin wasn't the first either. There were crypto currencies before Bitcoin, but none effectively solved the double spend problem. Perhaps, and this may be bold, but perhaps Bitcoin learned from it's predecessors... |
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anderl
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July 05, 2013, 12:22:39 PM |
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It works, was first and technology demands it.
Not necessary because of being first. Google was the 20th search engine to emerge. It learnt from all it's previous competitors mistakes. Bitcoin wasn't the first either. There were crypto currencies before Bitcoin, but none effectively solved the double spend problem. Perhaps, and this may be bold, but perhaps Bitcoin learned from it's predecessors... which is why bitcoin will not be the end all of cryptocurrencies. it is the firsts successful one but there will be others that will prove to have advantages over bitcoin. this is still a pioneer industry and it still in development. it is not ready for prime time but it is close, about 3-5 years away from true public adoption. |
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Zangelbert Bingledack
Legendary
Offline
Activity: 1036
Merit: 1000
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July 05, 2013, 02:29:14 PM |
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Weird sentiment here. Altcoin adoption and government interest in Bitcoin are both bullish for the BTC price.
If you understand Bitcoin and its implications, you know the price must rise very high sooner or later. If you don't understand, go study!
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N12
Donator
Legendary
Offline
Activity: 1610
Merit: 1010
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July 05, 2013, 08:08:01 PM |
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6 billion people
trillions of dollars in the world
only 21 million bitcoins, bitcoins can be divided into 7 decimal places so if it does go up or down its irrelevant, its meant to be a currency anyways
4h confirmations, 12 transactions per second (correct me if I'm wrong), yeah what a fantastic currency 7 transactions per second, I'm afraid Bitcoin scales even worse than you thought.  |
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Itcher
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July 05, 2013, 08:26:33 PM |
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6 billion people
trillions of dollars in the world
only 21 million bitcoins, bitcoins can be divided into 7 decimal places so if it does go up or down its irrelevant, its meant to be a currency anyways
4h confirmations, 12 transactions per second (correct me if I'm wrong), yeah what a fantastic currency 7 transactions per second, I'm afraid Bitcoin scales even worse than you thought. Can you explain this for me, please? Why seven? Is this fixed for eternity, or could it grow? Thanks. |
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SOSLOVE868
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July 05, 2013, 08:40:10 PM |
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I will keep my coins ,because its has the potential to be as a good commodity to stored value.
Since only 1% coins is traded on MT.GOX ,those 1% of coins are too essay to be manipulated, I disagree its represent real value of BTC, And because still lot of people are get their coins at super cheap price ,thus they contribute to the volatility and those pioneers.
The fundamental to supporting people recognize bitcoin at given level ,is depend on what the cost they get on their coin...
If most people here, still get BTC at below 20USD, the price will continuing fall for sure, but if most people are getting their BTC around 50 USD, then they will hold steady and not contributing to those panic selling ....I believe this will only happen when all those early adopters are running out their Coins...
To those earlier adopters if you do not believe long-term run of BTC ,please selling our you coins immediately...let's bitcoin hit the bottom line...
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