Arrogance of Bitcoin is its own main Enemy

[KingScorpio]

i have observed that now bitcoins arrogance causes its price drop

as soon as bitcoin looks too expensive, people start seeing bitcoin as some sort of arrogant cryptosect,

and the price drops, as will its popularity,

as soon as 12 000 USD are beeing reched again and people start speculating a price explosion again, bitcoin looks again arrogant for many and people will drop it

someone else expects the same?

regards

[DooMAD]

Is a network of computers scattered around the globe capable of "arrogance"?  I wouldn't say it's correct to anthropomorphise Bitcoin in this way.  Bitcoin has no awareness of the fiat price ascribed to it by the speculators.  All it knows is that there should be another block in ~10 minutes and everything else is immaterial.

People generally need to spend less time fixating on the fiat "value", because that isn't the real value at all.  If that's the sole measurement by which people are casting their judgements on Bitcoin, maybe it is they who are the arrogant (or more likely ignorant) ones.  I'd offer the idiom that "you can't put a price on freedom", but evidently it's all people are capable of.   

[KingScorpio]

Is a network of computers scattered around the globe capable of "arrogance"?  I wouldn't say it's correct to anthropomorphise Bitcoin in this way.  Bitcoin has no awareness of the fiat price ascribed to it by the speculators.  All it knows is that there should be another block in ~10 minutes and everything else is immaterial.

People generally need to spend less time fixating on the fiat "value", because that isn't the real value at all.  If that's the sole measurement by which people are casting their judgements on Bitcoin, maybe it is they who are the arrogant (or more likely ignorant) ones.  I'd offer the idiom that "you can't put a price on freedom", but evidently it's all people are capable of.   

of course fiat hase some fomr of value, people that work for it think its beeing not used by individuals like trump or the real estate tycoons in china to enrich themselves but to protect and upkeep usefull productivive strucutre as does it fund culture, bitcoin however behaves like an arrogant energy wasting sect that seeks attention,

since there are now 1400 cryptocurrencies, why should people trust bitcoin at all?

[7788bitcoin]

i have observed that now bitcoins arrogance causes its price drop
as soon as bitcoin looks too expensive, people start seeing bitcoin as some sort of arrogant cryptosect,
and the price drops, as will its popularity,
as soon as 12 000 USD are beeing reched again and people start speculating a price explosion again, bitcoin looks again arrogant for many and people will drop it

Welcome to the world of trading,there are different factors in play when the price goes up,it is not simply because that people are not doing any sort of trade during the sell off period and it is not because of arrogance,why you dare to invest in something which would make you loose money,if the market sentiment goes up,the price naturally will go up.There is a major resistance at $12 k and it might take some time to breach that resistance.

[KingScorpio]

i have observed that now bitcoins arrogance causes its price drop
as soon as bitcoin looks too expensive, people start seeing bitcoin as some sort of arrogant cryptosect,
and the price drops, as will its popularity,
as soon as 12 000 USD are beeing reched again and people start speculating a price explosion again, bitcoin looks again arrogant for many and people will drop it

Welcome to the world of trading,there are different factors in play when the price goes up,it is not simply because that people are not doing any sort of trade during the sell off period and it is not because of arrogance,why you dare to invest in something which would make you loose money,if the market sentiment goes up,the price naturally will go up.There is a major resistance at $12 k and it might take some time to breach that resistance.

selloff period?

seriously

all that volatility earning is basically a human form of vulturism is going to backfire because those that trust in the currency and its value and provide value for it are losing wealth by those that systematically speculate with it, and cause the volatility,

bitcoin might run out of steam because of that volatility that people try to earn money with, because only speculations are currently driving the value, not its social purpose

[MaleKing]

i have observed that now bitcoins arrogance causes its price drop

as soon as bitcoin looks too expensive, people start seeing bitcoin as some sort of arrogant cryptosect,

and the price drops, as will its popularity,

as soon as 12 000 USD are beeing reched again and people start speculating a price explosion again, bitcoin looks again arrogant for many and people will drop it

someone else expects the same?

regards

No matter how people will see Bitcoin, they will use it. The first thing you do when you want to buy into a coin, you buy Bitcoin first in most of the cases.
Then you use the Bitcoin to buy something else.
When you want to cash out, you exchange the other coins for Bitcoin, than Bitcoin for cash.
Maybe no one will hold Bitcoin, but they for sure will use it.

[bituperio]

i have observed that now bitcoins arrogance causes its price drop

as soon as bitcoin looks too expensive, people start seeing bitcoin as some sort of arrogant cryptosect,

and the price drops, as will its popularity,

as soon as 12 000 USD are beeing reched again and people start speculating a price explosion again, bitcoin looks again arrogant for many and people will drop it

someone else expects the same?

regards

More than an arrogance related to the price, I tend to find it related to the dominance. It is fine if one bitcoin is worth 12k, but the real dominance is aboutthe marketcap.

[KingScorpio]

i have observed that now bitcoins arrogance causes its price drop

as soon as bitcoin looks too expensive, people start seeing bitcoin as some sort of arrogant cryptosect,

and the price drops, as will its popularity,

as soon as 12 000 USD are beeing reched again and people start speculating a price explosion again, bitcoin looks again arrogant for many and people will drop it

someone else expects the same?

regards

More than an arrogance related to the price, I tend to find it related to the dominance. It is fine if one bitcoin is worth 12k, but the real dominance is aboutthe marketcap.

marketcap ist just a multiplication, just check ripple, got an even higher marketcap, needs insignificant price increase and is over bitcoin,

the real meaning is about social support, and acceptance, and arrogance doesnt work well lets see how it backfires at 12k

[Mind Control]

Is a network of computers scattered around the globe capable of "arrogance"?  I wouldn't say it's correct to anthropomorphise Bitcoin in this way.  Bitcoin has no awareness of the fiat price ascribed to it by the speculators.  All it knows is that there should be another block in ~10 minutes and everything else is immaterial.

My insight, exactly.

OP is measuring the price as a level of arrogance where, in fact, it has nothing to do with it. FGS, how could the price be associated with arrogance?

People generally need to spend less time fixating on the fiat "value", because that isn't the real value at all.  If that's the sole measurement by which people are casting their judgements on Bitcoin, maybe it is they who are the arrogant (or more likely ignorant) ones.  I'd offer the idiom that "you can't put a price on freedom", but evidently it's all people are capable of.   

I'd prefer ignorant. Most of the people out there investing/earning Bitcoin does not know what Bitcoin is in the first place. All they care about is the price itself. They always see Bitcoin as an asset that will make them rich and they always believe Bitcoin will keep on increasing in value. But when a crash comes, they get easily wiped out.

[avikz]

i have observed that now bitcoins arrogance causes its price drop

as soon as bitcoin looks too expensive, people start seeing bitcoin as some sort of arrogant cryptosect,

and the price drops, as will its popularity,

as soon as 12 000 USD are beeing reched again and people start speculating a price explosion again, bitcoin looks again arrogant for many and people will drop it

someone else expects the same?

regards

How would the price and speculation around it, can be termed as arrogance? Bitcoin is the pioneer in Cryptocurrency and that's why it is immensely popular around the world.

And the price fluctuation you are talking about is purely the nature of any speculative currency. Majority of the Cryptocurrency is priced as per the market demand and speculators play around the price to gain profit. Terming it as arrogance is probably your sheer ignorance about the market or wrong conceptualization. In either way, it makes no sense.

[sotoshihero]

i have observed that now bitcoins arrogance causes its price drop

as soon as bitcoin looks too expensive, people start seeing bitcoin as some sort of arrogant cryptosect,

and the price drops, as will its popularity,

as soon as 12 000 USD are beeing reched again and people start speculating a price explosion again, bitcoin looks again arrogant for many and people will drop it

someone else expects the same?

regards

How would the price and speculation around it, can be termed as arrogance? Bitcoin is the pioneer in Cryptocurrency and that's why it is immensely popular around the world.

And the price fluctuation you are talking about is purely the nature of any speculative currency. Majority of the Cryptocurrency is priced as per the market demand and speculators play around the price to gain profit. Terming it as arrogance is probably your sheer ignorance about the market or wrong conceptualization. In either way, it makes no sense.

I also do not like the term arrogance used by OP here to describe those.  Its on support and resistance, and when a traders sees he has a margin of profit, they sell. For me its normal, your goal in trading is for profit, and when a trader his profit is enought then he can sell anytime. We need more holder for the price to go up and more good news too.

[zarados]

i have observed that now bitcoins arrogance causes its price drop

as soon as bitcoin looks too expensive, people start seeing bitcoin as some sort of arrogant cryptosect,

and the price drops, as will its popularity,

as soon as 12 000 USD are beeing reched again and people start speculating a price explosion again, bitcoin looks again arrogant for many and people will drop it

someone else expects the same?

regards

"Bitcoin is an arrogant technology", sounds weird to me. It's not about the bitcoin, but how the users in the world manage it as a digital asset, someone calls it a bubble. some people also think bitcoin is a tool that can make you a billionaire in just 1 year. Bitcoin is just a technology, and there is no arrogance in it that can cause its price to decline.

[Yaunfitda]

i have observed that now bitcoins arrogance causes its price drop

as soon as bitcoin looks too expensive, people start seeing bitcoin as some sort of arrogant cryptosect,

and the price drops, as will its popularity,

as soon as 12 000 USD are beeing reched again and people start speculating a price explosion again, bitcoin looks again arrogant for many and people will drop it

someone else expects the same?

regards

I don't understand by arrogance of bitcoin. It's always like that ever since as far as I know. And the exponential growth and drastic fall is just part of the system, which we all call volatility.

People cash out that contributed to the price going down, but I don't see any problem with that. We don't expect everyone to just really hold on their coin and hope that it will grow. Sometimes you need to take profits and when the market is fit for re-investment, then enter again. And there is no arrogance on that.

[Doge dealer]

the detractors of bitcoins have been successful in getting us to feel that getting some bitcoins is a get rich quick scheme and not only that we have allowed them to instill in us the bitcoin faithful as well .They have been successful in getting us to think only of the price what about the other features which makes it a great currency ... its decentralization for example and if you notice this is the main and only point they have in trying to convince people to avoid it ....price , price , price .......the pricing is volatile yes but that great too because it allows new members who just wanna try bitcoins to get some at a respectable price and almost certainly make a profit in the short term.

[Kokondao]

It's natural for bitcoin because bitcoin still holds the highest coin rank, at a price like this I believe that soon bitcoin prices will explode sliding up to the moon, and so many are waiting.

[peterthegreat]

Bitcoin itself knows no arrogance, the people around it might, which is fine as long as there's also healthy discussions.

Bitcoin has bigger enemies to worry about, don't believe in the illuminati, but there's still powerful people who see less profit.

[Bervelukan]

Bitcoin currencies always have the highest price compared to other coin coin altcoins, and bitcoin is expensive but this is not the peak of bitcoin prices, someday bitcoin prices can still soar higher than the high price in 2017.

[Proton2233]

In today's world, impudence is the second happiness. Bitcoin has gained confidence and is now confident in its abilities. We can't give up on him. The reason is very simple. There is nothing better. Even if the transaction price is $ 100 + there will be people who transfer millions and for them $ 100 is like for you 1 cent.

[Grayy]

I don't think the feature of bitcoin that makes the price rise quite remarkably isn't called "arrogance". When loads of people demand bitcoin for their transactions or as a form of investment we can only expect a price increment. This is normal for every currency and commodity. In the case of bitcoin, some people do not actually identify good entry points in the bitcoin market before investing. Such actions have different repercussions on the market.

[walemil]

Arrogance of bitcoin? I disagree with you, poster, because we are the ones who give bitcoin value through our buying and selling. The truth is that bitcoin can not lose its popularity due to the prolonged price fall that is equally affecting other cryptocurrencies.