Bitcoin Shrinking - The Long View

[Synaptic]

Bitcoin Forums: The show.

    Description:  Watch as amateur investors and young anarcho-liberarians ignore negative assessments of their hobby and attack the personas of the iconoclasts.

and that would be personae... really, you shouldn't try to use complicated words

Are you that English major again?

And where's my fucking coffee?

Get you're manager out here now.

[CurbsideProphet]

The profanity and constant attacks on people who oppose your views isn't strengthening your position.  You would have been better off taking the high road and sticking to your points than allowing this thread to degrade into.... well this.

I actually agree with your basic premise, the amount of fanaticism by some Bitcoin posters is almost cultish.  But to paint the entire community with such a broad stroke would be wrong on my part because there are some very intelligent and rational people here as well.  However, the way you're conveying your point is not going to get those types to engage in a reasonable debate, you're only going to encourage hostility.

[Synaptic]

The profanity and constant attacks on people who oppose your views isn't strengthening your position.  You would have been better off taking the high road and sticking to your points than allowing this thread to degrade into.... well this.

I actually agree with your basic premise, the amount of fanaticism by some Bitcoin posters is almost cultish.  But to paint the entire community with such a broad stroke would be wrong on my part because there are some very intelligent and rational people here as well.  However, the way you're conveying your point is not going to get those types to engage in a reasonable debate, you're only going to encourage hostility.

Meh. So it goes.

[supersonic3974]

Bitcoin Forums: The show.

    Description:  Watch as amateur investors and young anarcho-liberarians ignore negative assessments of their hobby and attack the personas of the iconoclasts.

and that would be personae... really, you shouldn't try to use complicated words

Are you that English major again?

And where's my fucking coffee?

Get you're manager out here now.

I didn't think "your" was a complicated word...

[Mousepotato]

IMHO it's way too early to gauge the direction of the BTC based on temporary spike in the charts.

[Synaptic]

Bitcoin Forums: The show.

    Description:  Watch as amateur investors and young anarcho-liberarians ignore negative assessments of their hobby and attack the personas of the iconoclasts.

and that would be personae... really, you shouldn't try to use complicated words

Are you that English major again?

And where's my fucking coffee?

Get you're manager out here now.

I didn't think "your" was a complicated word...

Well then your really making an ass out of yourself by admissioning that, are not you?

[BitcoinHoarder]

IMHO it's way too early to gauge the direction of the BTC based on temporary spike in the charts.

Agreed.  Reading tea leaves here.

[Synaptic]

Bitcoin Forums: The alternative spell checker.

[teflone]

The long term trend for bitcoin value is contraction, not expansion.

Here's the fact of the matter:

+ Bitcoin just enjoyed more media exposure over the past 3 months than can reasonably be expected to occur anywhere in the near future. There's just nothing newsworthy forthcoming unless there is something scandalous that happens again, and we're just about out of interesting scandals. We've made the rounds from illegal purchasing to hacking to market failures.
  There's just nothing left to get the attention of corporate media. The fact is that no-one cares about bitcoin as a medium of exchange, except a small core constituency of idealists here on these forums. It HAD newsworthy spectacle value as prices skyrocketed and people "got rich quick," but those times are over.  There is nothing left of newsworthy value.

+ The price run-up happened SOLELY on hype alone. There's not much analysis that needs to be done here. It was clearly a bubble that started with the Silk Road coverage, inflated with the mining crazy, and ended with the Gox scandal. That's it folks. Bitcoin jumped the shark 3 weeks ago.

+ The current "stability" is no such thing. There is no stability when there's no backing economy.  The only "stability" we're seeing is roughly the same sub 10-15,000 (could be exceedingly lower, and possibly a bit higher though doubtfully) "investors" propping up the price and using trading bots to maintain the appearance of a functioning market and "stability."
  The fact is that the market has been on a slow and steady DECLINE ever since Gox came back online. This is because there is no new blood entering the market, just the same old speculators throwing more of their paychecks into it; BUT, not enough to grow the market. That's why were seeing a steady loss of a few cents of USD value everyday. And this will continue for the long haul.

+ Echoing the same dilemma of 3 months ago when bitcoin began catching on with speculators, "Where is the bitcoin economy."  Well folks, this is it. The list of bitcoin merchants hasn't grown at all, and in fact if you browse the Trade section of bitcoin.org itself, and explore some of the merchants there you'll find that some of them have removed their bitcoin advertisements and no longer APPEAR to accept it. I encourage you to peruse them and see for yourself, because during that excercise you'll also see that basically all businesses listed are extremely small time, mom and pop shop operations, and most of them quite amateur at that.  That is your bitcoin economy. That is what you have to work with now, and for any reasonable foreseeable future.

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

All of which begs the question: what are you still doing here, then?

Educating you.

In the first paragraph, you use the word newsworthy three times... that's bad English.

In the second paragraph, you use the words SOLELY and alone within the same sentence, a redundancy... also bad English.

In the third paragraph, you use doubtfully when it should've been "doubtful"

In the fourth paragraph, the words reasonable foreseeable future make very little sense.

Your last sentence is flat-out wrong, as you are clearly speculating on the future of bitcoin... whether the paragraphs above contain facts is entirely beside the point.

If you don't mind, I will take my education from someone whose language skills are slightly more polished.

Cheers,

lol

[Synaptic]

IMHO it's way too early to gauge the direction of the BTC based on temporary spike in the charts.

Agreed.  Reading tea leaves here.

Not really.  There's plenty of quantitative evidence to the facts presented. You need only see them for what they are, or at least pose real and effectual evidence to the contrary.

[Piper67]

IMHO it's way too early to gauge the direction of the BTC based on temporary spike in the charts.

Agreed.  Reading tea leaves here.

As I said once before... a monkey with a ouija board has a better chance of predicting where this is going than anyone here... but it's fun to correct the mistakes made by the little trolls.

[BGL]

<rant>

I've put a bit of money & time into btc. I too have concerns about it's future.

There is not enough critics on this forum. It's like browsing crackberry.

Often anytime something critical of bitcoin is mentioned a parade of fanbois drown it.

It's really in my best interest for btc to succeed. I don't want to look stupid.

Bitcoin is technically sound. It seems the majority of what backs bitcoin is not.

</rant>

[grod]

No my argument actually doesn't boil down to that, you're just too stupid to read the top post and reply with any type of substantial rebuttal.

And you're the bright bulb who can't figure out "The Long View" doesn't mean "next week."  For the rest of the month, sure, your points make sense.  I already said taking a myopic view I agree with you.

Long term none of that matters.

Change your title to "Re: Bitcoin Shrinking - the next week view.  Probably." and we're in violent agreement.

[Synaptic]

IMHO it's way too early to gauge the direction of the BTC based on temporary spike in the charts.

Agreed.  Reading tea leaves here.

As I said once before... a monkey with a ouija board has a better chance of predicting where this is going than anyone here... but it's fun to correct the mistakes made by the little trolls.

I love you buddy. Here, let's hug.

Group hug everyone.

[Synaptic]

<rant>

I've put a bit of money & time into btc. I too have concerns about it's future.

There is not enough critics on this forum. It's like browsing crackberry.

Often anytime something critical of bitcoin is mentioned a parade of fanbois drown it.

It's really in my best interest for btc to succeed. I don't want to look stupid.

Bitcoin is technically sound. It seems the majority of what backs bitcoin is not.

</rant>

HURR DURR, I TYHINK YOU MEAN "THERE AREN'T" HURR DURR.  WELCOME TO THE BITCOIN FORUMS: THE ALTERNATIVE SPELL CHECKER AND GRAMMAR ENGINE.

In all seriousness, thank you.  That's why I started posting here, because there is such banality that has lead a personal friend into folly (no, not you you know who you are, the "other guy"), that I find it both an honor and also quite entertaining to put up with the banal douchebags that frequent this place to potentially give some of the lurkers some perspective.

You don't look stupid.  You're one of the few people that have posted in this thread that actually seems to have the ability to reason critically.

[Synaptic]

No my argument actually doesn't boil down to that, you're just too stupid to read the top post and reply with any type of substantial rebuttal.

And you're the bright bulb who can't figure out "The Long View" doesn't mean "next week."  For the rest of the month, sure, your points make sense.  I already said taking a myopic view I agree with you.

Long term none of that matters.

Change your title to "Re: Bitcoin Shrinking - the next week view.  Probably." and we're in violent agreement.

"The Long View" is exactly as long as it takes for:

A. More media hype to drive empty money into bitcoin

AND/OR

B. The "bitcoin economy" to pickup and grow.

Neither of those things are about to happen. Not in a month, not in two, not in 6.  There's nothing on the horizon for bitcoin, and that's what this thread was started for. The mining boom is over. Silk Road is out of the bag. We had a huge scandal that met the ADHD attention span of the mainstream media. It's done for the long term.

Now we just watch the value bleed...

[error]

This thread really has gone to hell. Let's stick to the issues, please, as I will have a very bad day if I have to spend the rest of the afternoon deleting personal attacks.

[wumpus]

Neither of those things are about to happen. Not in a month, not in two, not in 6.  There's nothing on the horizon for bitcoin, and that's what this thread was started for. The mining boom is over. Silk Road is out of the bag. We had a huge scandal that met the ADHD attention span of the mainstream media. It's done for the long term.

We have a lot of patience though. I don't care if it takes 5, 10 years to adopt bitcoin on larger scale. There isn't any hurry. Look how Linux started, or any other open source project.

[Synaptic]

+ Echoing the same dilemma of 3 months ago when bitcoin began catching on with speculators, "Where is the bitcoin economy."  Well folks, this is it. The list of bitcoin merchants hasn't grown at all, and in fact if you browse the Trade section of bitcoin.org itself, and explore some of the merchants there you'll find that some of them have removed their bitcoin advertisements and no longer APPEAR to accept it. I encourage you to peruse them and see for yourself, because during that excercise you'll also see that basically all businesses listed are extremely small time, mom and pop shop operations, and most of them quite amateur at that.  That is your bitcoin economy. That is what you have to work with now, and for any reasonable foreseeable future.

You ignore the number of entrepreneurs that discovered Bitcoin in the last 3 months and are now investing in the Bitcoin infrastructure and products/services that makes sense at this time. It takes time to develop and market that.

I saw a story about a guy developing a bitcoin "ATM" and another working on a bitcoin POS system. And then of course all your run of the mill "early adopters" running amateur websites for primarily virtual services and oddball goods and basically accepting bitcoin as a novelty (bitsnacks or whatever the hell it's called, anyone? Yeah, let's pay a huge markup on snacks that could be had for 50% at COSTCO...why? Pure novelty, period.).

There's plenty of examples of failed investors/inventors, and this sadly will be one of them.  I feel bad for them because in the case of the POS and ATM guys, they're obviously really clever and using their minds.  However it's unfortunate that they're gambling on ideals and circumstances which simply do not fit the mainstream appeal and never will.  Otherwise their ingenuity would serve them extremely well.

[Serge]

The long view - our Sun will exhaust its energy. Everyone dies - Bitcoin becomes totally useless. The end! Or is it?