Bitcoin Shrinking - The Long View

[Piper67]

And then, almost 3 pages in, not a single one of these antithetical "contributors" has posted anything thoughful or comprehensive in refutation of my post. Just hollow quips, ad hominem, and "nothing to here"s. Yes, truly all of the growth in this community is of intelligent, well reasoned individuals.

For the sake of anyone landing on the above post, it is just untrue. Please look through the thread and judge for yourselves.

[Serge]

if Bitcoin won't reach -$10 value in the nearest future it has no long-term expanding growth potential.

[Synaptic]

OP, you're confusing bitcoins market price with bitcoin itself.  The two have about as much to do with each other as executive compensation and stock performance.

If bitcoin's price crashes through its "true value" then it's once again a golden opportunity for new investors.  Sucks for those who bought in at $20-30, but such is the nature of investing in trends without proper technical and fundamental analysis.   Riches to rags stories are just as sensational as rags to riches, as are "I told you so" analysis from the self-important.  Media coverage will continue, attracting more and more attention.

You also underestimate the importance of grass roots word of mouth advertising.  I'm here because of a posting in a GPU forum (anandtech, for the curious).  Had I known earlier I'd have been involved earlier.  Since I found out about bitcoin I've introduced 20 people to it, several of whom are now following the story as it develops.

TL;DR -- If you view this as a flash in the pan get rich scheme you're right, the easy money is gone.  Long term is still a giant questionmark.

Oh, and by the way, how'd your return to Newegg go?

Good post.  You're right, btcoin exists wholly apart from it's valuation in fiat, but that is that only measure that matters to the majority of bitcoiners anyway, which is actually quite ample evidence to the hollowness of bitcoin in general.

And, I assume that was the thread on anand tech about mining, which is why you're here - to get your small slice of the pie.  Well, good luck. Just like all the other "grassroots" newcomers, you might eventually pay off a portion of your gaming rig. Kudos.

I paid off a nice chunk of mine, and despite what that moron said about contacting NewEgg and getting my refund canceled, everything went through just fine.

[TraderTimm]

And then, almost 3 pages in, not a single one of these antithetical "contributors" has posted anything thoughful or comprehensive in refutation of my post. Just hollow quips, ad hominem, and "nothing to here"s. Yes, truly all of the growth in this community is of intelligent, well reasoned individuals.

Synaptic, I know you must be tired pounding out on the keyboard as you have in the last hour, but honestly - nothing could be farther from the truth. Here it is, just in case you forgot:

I'm glad you were inspired by my thread - right down to the topic phrasing. Lets see if we can look at this objectively.

Bitcoin just enjoyed more media exposure over the past 3 months than can reasonably be expected to occur anywhere in the near future

So, you know the future then? That is what you're implying. I tend to disagree.

It was clearly a bubble that started with the Silk Road coverage, inflated with the mining craze, and ended with the Gox scandal.

You may want to look at my other analysis, which specifically looked at other 'bubbles' in the past. Here's a little reminder:

http://forum.bitcoin.org/index.php?topic=26117.0 - "The Dichotomy of a Bubble - Why Bitcoin Will Endure"

For any 'bubble' comparison, we have until the end of August to be proven wrong or not. Again, you claim some kind of future knowledge, which I doubt you have.

The current "stability" is no such thing. (snip) That's why were seeing a steady loss of a few cents of USD value everyday. And this will continue for the long haul.

Again, you claim to know future value. I find this interesting, as no-one has clear knowledge of the future. My post about future potential growth wasn't about dates and times, only a general guide as to how I think things will work out. I didn't claim to know for sure. Why are you so sure, then?

This is not a thread about the speculation of bitcoin's future, these are the facts.

I find most facts have citations - all I can see in your post is some unconfirmed knowledge of future events. So which are you, an oracle, or someone talking out of their ass?

I'll give you time, again - I realize raging and foaming at the mouth takes energy away from responding constructively...

[Synaptic]

And then, almost 3 pages in, not a single one of these antithetical "contributors" has posted anything thoughful or comprehensive in refutation of my post. Just hollow quips, ad hominem, and "nothing to here"s. Yes, truly all of the growth in this community is of intelligent, well reasoned individuals.

For the sake of anyone landing on the above post, it is just untrue. Please look through the thread and judge for yourselves.

I don't see anyone who's said anything to give any evidence at all that there's still newsworthiness in bitcoin.  I even specifically ASKED for it.  Do you have any input?  Can you explain to all of us that are very eagerly awaiting, what is left for the corporate media to expound on?

Nor has there been any substantial refutation of ANY of my other points.

You'd think if my little arguments were so weak that someone would have posted contrary evidence, but they havent.

They just baselessly attack the value of my own expression without offering counter evidence.

[Synaptic]

And then, almost 3 pages in, not a single one of these antithetical "contributors" has posted anything thoughful or comprehensive in refutation of my post. Just hollow quips, ad hominem, and "nothing to here"s. Yes, truly all of the growth in this community is of intelligent, well reasoned individuals.

Synaptic, I know you must be tired pounding out on the keyboard as you have in the last hour, but honestly - nothing could be farther from the truth. Here it is, just in case you forgot:

I'm glad you were inspired by my thread - right down to the topic phrasing. Lets see if we can look at this objectively.

Bitcoin just enjoyed more media exposure over the past 3 months than can reasonably be expected to occur anywhere in the near future

So, you know the future then? That is what you're implying. I tend to disagree.

It was clearly a bubble that started with the Silk Road coverage, inflated with the mining craze, and ended with the Gox scandal.

You may want to look at my other analysis, which specifically looked at other 'bubbles' in the past. Here's a little reminder:

http://forum.bitcoin.org/index.php?topic=26117.0 - "The Dichotomy of a Bubble - Why Bitcoin Will Endure"

For any 'bubble' comparison, we have until the end of August to be proven wrong or not. Again, you claim some kind of future knowledge, which I doubt you have.

The current "stability" is no such thing. (snip) That's why were seeing a steady loss of a few cents of USD value everyday. And this will continue for the long haul.

Again, you claim to know future value. I find this interesting, as no-one has clear knowledge of the future. My post about future potential growth wasn't about dates and times, only a general guide as to how I think things will work out. I didn't claim to know for sure. Why are you so sure, then?

This is not a thread about the speculation of bitcoin's future, these are the facts.

I find most facts have citations - all I can see in your post is some unconfirmed knowledge of future events. So which are you, an oracle, or someone talking out of their ass?

I'll give you time, again - I realize raging and foaming at the mouth takes energy away from responding constructively...

Thank you for the further rhetorical ad hominem.

Here, please have this complimentary pillar of flesh to satiate your appetite.

[Piper67]

And then, almost 3 pages in, not a single one of these antithetical "contributors" has posted anything thoughful or comprehensive in refutation of my post. Just hollow quips, ad hominem, and "nothing to here"s. Yes, truly all of the growth in this community is of intelligent, well reasoned individuals.

For the sake of anyone landing on the above post, it is just untrue. Please look through the thread and judge for yourselves.

I don't see anyone who's said anything to give any evidence at all that there's still newsworthiness in bitcoin.  I even specifically ASKED for it.  Do you have any input?  Can you explain to all of us that are very eagerly awaiting, what is left for the corporate media to expound on?

Nor has there been any substantial refutation of ANY of my other points.

You'd think if my little arguments were so weak that someone would have posted contrary evidence, but they havent.

They just baselessly attack the value of my own expression without offering counter evidence.

Hey, Synaptic, there are ways and ways to go about this, but let's try this one: If you go on MtGox right now you will see that, at least by one measure, bitcoins HAVE a value (around 14 USD as I type this). Consequently, if you're going to posit they don't, the onus is on YOU, not us, to base that assertion. You haven't. But, you and others have kept me, and others, mildly entertained for a little while... for that I'm ever so grateful.

[Synaptic]

And then, almost 3 pages in, not a single one of these antithetical "contributors" has posted anything thoughful or comprehensive in refutation of my post. Just hollow quips, ad hominem, and "nothing to here"s. Yes, truly all of the growth in this community is of intelligent, well reasoned individuals.

For the sake of anyone landing on the above post, it is just untrue. Please look through the thread and judge for yourselves.

I don't see anyone who's said anything to give any evidence at all that there's still newsworthiness in bitcoin.  I even specifically ASKED for it.  Do you have any input?  Can you explain to all of us that are very eagerly awaiting, what is left for the corporate media to expound on?

Nor has there been any substantial refutation of ANY of my other points.

You'd think if my little arguments were so weak that someone would have posted contrary evidence, but they havent.

They just baselessly attack the value of my own expression without offering counter evidence.

Hey, Synaptic, there are ways and ways to go about this, but let's try this one: If you go on MtGox right now you will see that, at least by one measure, bitcoins HAVE a value (around 14 USD as I type this). Consequently, if you're going to posit they don't, the onus is on YOU, not us, to base that assertion. You haven't. But, you and others have kept me, and others, mildly entertained for a little while... for that I'm ever so grateful.

I didn't say they didn't have a present value.  Read the fucking title of this thread maybe?

C'mon everyone, let's continue to dilute the argument with further meaningless posts.

[Serge]

Please start shrinking value of bitcoins, I'm ready to buy at $10 ea.  Put your bitcoins where your mouth is.

[BitcoinHoarder]

Synaptic: Sorry bro but you are simply outclassed.  You are taking a few opinions, calling them facts, and getting in a pissing fight over others' opinions.  Very few people need your "education".

The real question is:  how much have you invested in Bitcoin that hasn't paid off that has made you so emotionally unstable?  Are you just angry because you missed out on the bonanza of value created for early adopters in 2009 and 2010?  Or did you buy a load of bitcoins at $30 a piece and are getting impatient?

Good luck my unfortunate OP.

[Synaptic]

Please start shrinking value of bitcoins, I'm ready to buy at $10 ea.  Put your bitcoins where your mouth is.

Thanks for another meaningless post!

And boy do I have some news for you friend:

RALLY!

Yes that's right everyone!  RALLY!

GO GO GO GO!

[Synaptic]

Synaptic: Sorry bro but you are simply outclassed.  You are taking a few opinions, calling them facts, and getting in a pissing fight over others' opinions.  Very few people need your "education".

The real question is:  how much have you invested in Bitcoin that hasn't paid off that has made you so emotionally unstable?  Are you just angry because you missed out on the bonanza of value created for early adopters in 2009 and 2010?  Or did you buy a load of bitcoins at $30 a piece and are getting impatient?

Good luck my unfortunate OP.

I'm not outclassed at all.  There hasn't been a single refutation of my original thesis that bitcoin will continue to bleed value based on the all the circumstances I've listed.

But let me ask you directly Mike, please do tell,

What is incorrect in my original post?

[imperi]

I think Synaptic is bipolar and he is in a manic state right now. Soon he will be in a hospital.

[Piper67]

I think Synaptic is bipolar and he is in a manic state right now. Soon he will be in a hospital.

Haaahaha... synaptic... bipolar... now THAT is funny

[BitcoinHoarder]

What is incorrect in my original post?

Have you original post, I don't mind to challenge it.

Just for you I changed my name to reflect the actions I have taken based on reading your post.

[Serge]

Please start shrinking value of bitcoins, I'm ready to buy at $10 ea.  Put your bitcoins where your mouth is.

Thanks for another meaningless post!

And boy do I have some news for you friend:

RALLY!

Yes that's right everyone!  RALLY!

GO GO GO GO!

Did you ever caught me doing that?  I'm taking very neutral position in not speculating and not pumping shit either way. But I'm strong bull who doesn't need to try to convey my view upon everyone else - this is confidence. Market will go to least resistant and most acceptable value - everything else is SPECULATION.  BTW I perceive you as bull too only cross-dressed in bear skin

[BillX]

And a rapidly growing community means exactly jack shit to such a supposedly AMAZING financial instrument where there NO ECONOMY backing it up.

The Silk Road has thousands of members. Welcome to reality.

Silk Road members should all be thrown in jail and forgotten about along with you for wanting to profit off the gains of the Cartels.

[supersonic3974]

Synaptic: Sorry bro but you are simply outclassed.  You are taking a few opinions, calling them facts, and getting in a pissing fight over others' opinions.  Very few people need your "education".

The real question is:  how much have you invested in Bitcoin that hasn't paid off that has made you so emotionally unstable?  Are you just angry because you missed out on the bonanza of value created for early adopters in 2009 and 2010?  Or did you buy a load of bitcoins at $30 a piece and are getting impatient?

Good luck my unfortunate OP.

I'm not outclassed at all.  There hasn't been a single refutation of my original thesis that bitcoin will continue to bleed value based on the all the circumstances I've listed.

But let me ask you directly Mike, please do tell,

What is incorrect in my original post?

Lol... thesis

[imperi]

And a rapidly growing community means exactly jack shit to such a supposedly AMAZING financial instrument where there NO ECONOMY backing it up.

The Silk Road has thousands of members. Welcome to reality.

Silk Road members should all be thrown in jail and forgotten about along with you for wanting to profit off the gains of the Cartels.

If I have dollar bills, am I profiting off of cartels? Also I was talking about the existence of their business, not personal opinions about drug prohibition and enforcement.

[BitcoinHoarder]

And a rapidly growing community means exactly jack shit to such a supposedly AMAZING financial instrument where there NO ECONOMY backing it up.

The Silk Road has thousands of members. Welcome to reality.

Silk Road members should all be thrown in jail and forgotten about along with you for wanting to profit off the gains of the Cartels.

Not to hijack this quality thread but...

I mined thousands of coins in 2010 and I should be thrown in jail because now there is demand for the coins?  Who cares where the demand is coming from, if I can exchange them for USD then that is my prerogative.  I don't see that as a reason to throw someone in jail just because criminals to US law want them.