What's causing the bitcoin to lose value?

[DannyHamiltonn]

avalons and butterflylabs ASIC-miners

[endoall]

waiting for it to drop to $1 and buy loads.

[Badabing]

waiting for it to drop to $1 and buy loads.

Good luck, I think it will not even go below $30.

[GaltForever]

Lack of intrinsic value my friend. Bitcoin has many wonderful properties and qualities of perfect money but that is not enough. In live there can be no contradictions, the proliferation of altcoins is your proof. If bitcoin has this intrinsic value so does the others. What the community need is a way to inject intrinsic value into this gem. It is solvable problem, and it require hoarders/holders to do a simple math and commit some of their coins towards such a process. That too will be the fastest way to get the general public to jump on this train asap. I have seen a great mind on this forum  lay the foundation of such a pillar, he just doesn't know it yet. There are only two ways for men to deal, by the barrel of a gun or by reason. Fiat money has the former, Bitcoin needs the latter. Lets add intrinsic value gentlemen, indestructible intrinsic value.