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Author Topic: Bye bye bitcoin  (Read 8890 times)
wingding
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October 11, 2013, 03:31:59 PM
 #1

My last bitcoin finally sold! It's a relief. Bitcoin is doomed to fail. It has a price, but it has no value. It has made a few people rich, but most people shall loose. A currency? It is only speculation and nothing more. Bitcoin has not and will not become a real medium for exchange. What remains for bitcoin now is the large holders to sell out their coins, but in a tempo that does not crash the 'market'. It will be interesting to see how bitcoin's decline plays out. Good luck, either buying or selling, but if you do the former, you need it most.

                                   
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.✫ Forex in crypto for everyone ✫.
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kibblesnbits
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October 11, 2013, 03:34:32 PM
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My last bitcoin finally sold! It's a relief. Bitcoin is doomed to fail. It has a price, but it has no value. It has made a few people rich, but most people shall loose. A currency? It is only speculation and nothing more. Bitcoin has not and will not become a real medium for exchange. What remains for bitcoin now is the large holders to sell out their coins, but in a tempo that does not crash the 'market'. It will be interesting to see how bitcoin's decline plays out. Good luck, either buying or selling, but if you do the former, you need it most.

I disagree.  Most people will tight. 

If it has no value, you sold it at 0, right?
Don't let the door hit ya!

ASICMINERTUBE
   
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BurtW
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October 11, 2013, 03:34:59 PM
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Good bye to you, and good riddance.

+1, don't let the door hit you in the ass on the way out!

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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October 11, 2013, 03:36:33 PM
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See ya, and thanks for the cheap coins.
LiteCoinGuy
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October 11, 2013, 03:37:57 PM
 #5

yes bitcoin is doomed, Litecoin is comming! ....just kidding (i like both) ;-)



you are a free man, bye  Wink

Ipsum
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October 11, 2013, 03:39:58 PM
 #6

My last bitcoin finally sold! It's a relief. Bitcoin is doomed to fail. It has a price, but it has no value. It has made a few people rich, but most people shall loose. A currency? It is only speculation and nothing more. Bitcoin has not and will not become a real medium for exchange. What remains for bitcoin now is the large holders to sell out their coins, but in a tempo that does not crash the 'market'. It will be interesting to see how bitcoin's decline plays out. Good luck, either buying or selling, but if you do the former, you need it most.

Well, you could be right. Myself, I hold about 1% of my net worth in bitcoin. If I lose 100% of that value, it's not going to ruin my life. It bitcoin does actually take off and become widely useful, I'll be set for life by the rise in price.

So from my perspective, while bitcoin is extremely risky as a speculative vehicle, the potential upside in the case of bitcoin going beyond the ultra-niche currency it is today to something widely used is massive, and potentially a couple magnitudes larger than the loss I could incur.

Hope you made money when you sold!

viriat0
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October 11, 2013, 03:41:15 PM
 #7

Good luck and good bye!

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October 11, 2013, 03:44:30 PM
 #8

It is doomed to fail? Then surely i will find tons of people willing to sell bitcoins for 1 cent each!
Birdy
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October 11, 2013, 03:47:04 PM
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My last bitcoin finally sold! It's a relief. Bitcoin is doomed to fail. It has a price, but it has no value. It has made a few people rich, but most people shall loose. A currency? It is only speculation and nothing more. Bitcoin has not and will not become a real medium for exchange. What remains for bitcoin now is the large holders to sell out their coins, but in a tempo that does not crash the 'market'. It will be interesting to see how bitcoin's decline plays out. Good luck, either buying or selling, but if you do the former, you need it most.

To get some more discussion into the thread:
Why did you have Bitcoins then? What changed your mind?

Personally I feel more like dollar and euro in their current form are doomed to fail.
Bitcoin is still very risky though, but I wouldn't sell all of them ^^
Gabi
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October 11, 2013, 03:49:52 PM
 #10

Maybe he expected a get rich quick scheme
superduh
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October 11, 2013, 03:56:25 PM
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i doubt he had any coins to begin with with that kind of attitutde

ok
balanghai
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October 11, 2013, 03:58:35 PM
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The best thing that happened here is that the OP is feeling better.  Grin
Ipsum
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October 11, 2013, 03:58:51 PM
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Personally I feel more like dollar and euro in their current form are doomed to fail.
Bitcoin is still very risky though, but I wouldn't sell all of them ^^

Neither the dollar nor the euro are going anywhere. They may/will fluctuate in value, but they're certainly not going anywhere. Notably unlike Bitcoin, they actually have something backing their value: Giant armies that will ensure that any land within their jurisdiction has its property taxes paid in fiat, and the ability to insist on paying all their government's expenses (which are huge, obviously) in fiat currency.
gwoplock
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October 11, 2013, 04:02:49 PM
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i doubt he had any coins to begin with with that kind of attitutde

he did look at his other posts...
Birdy
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October 11, 2013, 04:05:45 PM
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Personally I feel more like dollar and euro in their current form are doomed to fail.
Bitcoin is still very risky though, but I wouldn't sell all of them ^^

Neither the dollar nor the euro are going anywhere. They may/will fluctuate in value, but they're certainly not going anywhere. Notably unlike Bitcoin, they actually have something backing their value: Giant armies that will ensure that any land within their jurisdiction has its property taxes paid in fiat, and the ability to insist on paying all their government's expenses (which are huge, obviously) in fiat currency.

So were a lot of the older fiat currencies that were killed due to hyperinflation in the past.
Granted there will be something issued by the state to replace them then.
bigasic
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October 11, 2013, 04:06:04 PM
 #16

My last bitcoin finally sold! It's a relief. Bitcoin is doomed to fail. It has a price, but it has no value. It has made a few people rich, but most people shall loose. A currency? It is only speculation and nothing more. Bitcoin has not and will not become a real medium for exchange. What remains for bitcoin now is the large holders to sell out their coins, but in a tempo that does not crash the 'market'. It will be interesting to see how bitcoin's decline plays out. Good luck, either buying or selling, but if you do the former, you need it most.


you obviously dont understand bitcoin. Bitcoin is not only a currency/commodity, but really a new technology.. look at all these different ideas springing up. Mastercoin is one..

We haven't even begun to see what bitcoin can or will do.. Bitcoin is a better place without people like you in it...adios..

Also, why would you sell every last one? If I was going to call bitcoin quits, I would probably hold on to a couple, just in case it skyrockets... I don't hold every extra dime that I have in bitcoin, that would be stupid, its called diversity, lol... Buy some gold with your coin, buy some stock, even a little fiat, but to get rid of every bitcent is a little extreme...
seafarer124
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October 11, 2013, 04:10:17 PM
 #17

So, all these people putting heaps, time and money, into start-ups have no confidence in BTC?
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October 11, 2013, 04:14:43 PM
 #18

My last bitcoin finally sold! It's a relief. Bitcoin is doomed to fail. It has a price, but it has no value. It has made a few people rich, but most people shall loose. A currency? It is only speculation and nothing more. Bitcoin has not and will not become a real medium for exchange. What remains for bitcoin now is the large holders to sell out their coins, but in a tempo that does not crash the 'market'. It will be interesting to see how bitcoin's decline plays out. Good luck, either buying or selling, but if you do the former, you need it most.

Everyone has a right to their views. I wish you all the best.

Paintings have a value only because users want to own them, no other reason.

I personally feel  bitcoin will continue to grow and do well, especially with the current world financial issues ATM.
wingding
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October 11, 2013, 04:15:11 PM
 #19

Thanks for nice replies! A few facts:
Good some of you're happy to have bought my coins cheap. They were cheaper when i got them Smiley
And yes, I did have a lot of coins. Not like Gavin or Satoshi - no no. But still.
And yes, I did make a profit, maybe some 20%. I certainly lost some money due to MtGox withdrawal fuzz and arbitrage.
I do feel happy.


To get some more discussion into the thread:
Why did you have Bitcoins then? What changed your mind?

Personally I feel more like dollar and euro in their current form are doomed to fail.
Bitcoin is still very risky though, but I wouldn't sell all of them ^^

Good question! My main issue with bitcoin is the immorality of it. Explained simply: When my government issues new money, those money are used to run schools, build roads, provide health care , etc. So fiat money has some moral basis. When you buy bitcoins, some people get rich from that, nothing else.


                                   
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    ╙█████████████████████████╜   
      `▀███████████████████▀'     
          ╙█████████████▀`         
              ╙▀███▀╜`             
                                   
.✫ Forex in crypto for everyone ✫.
dragonkid
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October 11, 2013, 04:16:41 PM
 #20

Personally I feel more like dollar and euro in their current form are doomed to fail.
Bitcoin is still very risky though, but I wouldn't sell all of them ^^

A lot of countries want to leave the Euro. So it is definitely going to fall. Even 49% of German want Germany to leave Euro.

Dollar, we know where that is heading. The currency is doom.

I do think Bitcoin is risky. But I enjoy taking part in Extreme Sports. So I love the risk about Bitcoin.  Grin

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