Bears thread - unleash the bear in you in this thread

[mvidetto]

I don't agree with this graph.  First of all, this graph does not include china, and as we all know they are leading this rally.  Second, its only gone down 2 points, which agrees with they price dropping slightly.  Maybe I'm missing something, but I'm not buying this argument.

[bitcon]

back to 368 on gox. someone is still buying.

[ajax3592]

Graph was world wide, however just for the sake of argument, please see graph below, the lsat graph is 'bitcoin' in chinese, where we can witness a huge surge, which supports my bearish opinion even more,

The point that i'm making across is that the rise in bitcoin value isn't due to fitting the adoption curve or bitcoin transactional utility for goods and services, based on this research, at the moment the rise in bitcoin value is hype driven, which is always and i repeat always the most dangerous time to buy, what will occur is eventually after this hype dies down, we on't be seeing an imminent crash like last time, however a slow landslide fall back to the $200's. An constant increase in price is unstustainable and if the price isn;t increasing interest is lost, so once again buying now at these prices is not wise in my opinion

So when according to you should be the best time to get hold of 4-5BTC. Around Christmas? Many people may sell their's at that time.

[bitwhizz]

Graph was world wide, however just for the sake of argument, please see graph below, the lsat graph is 'bitcoin' in chinese, where we can witness a huge surge, which supports my bearish opinion even more,

The point that i'm making across is that the rise in bitcoin value isn't due to fitting the adoption curve or bitcoin transactional utility for goods and services, based on this research, at the moment the rise in bitcoin value is hype driven, which is always and i repeat always the most dangerous time to buy, what will occur is eventually after this hype dies down, we on't be seeing an imminent crash like last time, however a slow landslide fall back to the $200's. An constant increase in price is unstustainable and if the price isn;t increasing interest is lost, so once again buying now at these prices is not wise in my opinion

So when according to you should be the best time to get hold of 4-5BTC. Around Christmas? Many people may sell their's at that time.

Bingo!

[wormbog]

The FBI has already seized enough bitcoin to crash the market whenever they choose. Once they do, they'll follow up with a flood of news stories about terrorists funding their operations using bitcoin, then we'll get crippling regulations a few days later. That will crash the exchange rate down to sub $1 levels, and they will never recover.

Bearish enough?

[BittBurger]

BTC will eventually fail and go to $0...  There's my bearish input.

It would be so unbelievably difficult to undo what's being built around the world pertaining to this technology.....
The longer we go with governments and banks doing nothing, the stronger the infrastructure is getting.
The stronger the infrastructure gets the less chance BTC will ever hit zero.
The more viral BTC goes the less chance BTC will ever hit zero.
The more businesses accepting BTC ... the chances of BTC hitting $0 become *zero*.
I honestly can't even think of what would have to happen on a global scale that could make BTC drop to $0.
Maybe nuclear war ...
Therefore, statements like the above one, don't seem to reflect an awareness of reality to me anymore.

[ajax3592]

Bingo!

Okay I get that, but alright I may sound dumb, what do bears and bulls metaphors mean ? Im not from western culture so anybody care to explain please.

[Patel]

bull is someone who thinks the price will rise
bear is someone who thinks the price will fall

[ajax3592]

bull is someone who thinks the price will rise
bear is someone who thinks the price will fall

Okay something like the "Raging Bull" and the "Lazy Bear" right

[deisik]

It would be so unbelievably difficult to undo what's being built around the world pertaining to this technology.....
The longer we go with governments and banks doing nothing, the stronger the infrastructure is getting.
The stronger the infrastructure gets the less chance BTC will ever hit zero.
The more viral BTC goes the less chance BTC will ever hit zero.
The more businesses accepting BTC ... the chances of BTC hitting $0 become *zero*.
I honestly can't even think of what would have to happen on a global scale that could make BTC drop to $0.
Maybe nuclear war ...
Therefore, statements like the above one, don't seem to reflect an awareness of reality to me anymore.

No government will allow Bitcoin to compete with its local currency

[ajax3592]

Graph was world wide, however just for the sake of argument, please see graph below, the lsat graph is 'bitcoin' in chinese, where we can witness a huge surge, which supports my bearish opinion even more,

The point that i'm making across is that the rise in bitcoin value isn't due to fitting the adoption curve or bitcoin transactional utility for goods and services, based on this research, at the moment the rise in bitcoin value is hype driven, which is always and i repeat always the most dangerous time to buy, what will occur is eventually after this hype dies down, we on't be seeing an imminent crash like last time, however a slow landslide fall back to the $200's. An constant increase in price is unstustainable and if the price isn;t increasing interest is lost, so once again buying now at these prices is not wise in my opinion

So when according to you should be the best time to get hold of 4-5BTC. Around Christmas? Many people may sell their's at that time.

Bingo!

Check out the votes of people in this thread I just created on how many of them would sell BTC around Christmas. See results.

[deisik]

Okay I get that, but alright I may sound dumb, what do bears and bulls metaphors mean ? Im not from western culture so anybody care to explain please.

It is easy to remember. Bulls attack with their horns upwards into the air, while a bear would crush with its paw downwards. So if the trend is up, this is considered metaphorically a bull market. If the trend is down, it is a bear market

[hyphymikey]

Chart does not matter. China does not use Google, they use Baidu.

500 by Friday!

[lightfoot]

This is why I am not buying: I make bitcoins the old fashioned way:

I MINE THEM!

:-)

[rocks]

It would be so unbelievably difficult to undo what's being built around the world pertaining to this technology.....
The longer we go with governments and banks doing nothing, the stronger the infrastructure is getting.
The stronger the infrastructure gets the less chance BTC will ever hit zero.
The more viral BTC goes the less chance BTC will ever hit zero.
The more businesses accepting BTC ... the chances of BTC hitting $0 become *zero*.
I honestly can't even think of what would have to happen on a global scale that could make BTC drop to $0.
Maybe nuclear war ...
Therefore, statements like the above one, don't seem to reflect an awareness of reality to me anymore.

No government will allow Bitcoin to compete with its local currency

That is exactly why Bitcoin was designed as a decentralized P2P protocol, with no single entity responsible for it's ongoing operation.

Of course governments will try to kill it. The US will try to regulate it to death, while some other countries might try to make it illegal. But the effect will be the same, Bitcoin will go on and be difficult/impossible to shutdown.

It was belief in this strength that drove interest from the early adoptors. At some point this property will be tested and it will be interesting to watch.

[Tirapon]

It would be so unbelievably difficult to undo what's being built around the world pertaining to this technology.....
The longer we go with governments and banks doing nothing, the stronger the infrastructure is getting.
The stronger the infrastructure gets the less chance BTC will ever hit zero.
The more viral BTC goes the less chance BTC will ever hit zero.
The more businesses accepting BTC ... the chances of BTC hitting $0 become *zero*.
I honestly can't even think of what would have to happen on a global scale that could make BTC drop to $0.
Maybe nuclear war ...
Therefore, statements like the above one, don't seem to reflect an awareness of reality to me anymore.

No government will allow Bitcoin to compete with its local currency

Governments currently are allowing Bitcoin to compete with their local currency. It seems there's something of a stand off going on - governments are aware of Bitcoin, and you would expect their immediate reaction might be to try to ban its use. Unfortunately for them, they only have jurisdiction over their own territory, and Bitcoin is a global currency. So if, say, America were to ban the use of Bitcoin, there's nothing to say China wouldn't simply continue to encourage adoption. At this point, all BTC related business would move to China, leaving the U.S. behind as the rest of the world reaped the benefits of this new technology.

[bitwhizz]

It would be so unbelievably difficult to undo what's being built around the world pertaining to this technology.....
The longer we go with governments and banks doing nothing, the stronger the infrastructure is getting.
The stronger the infrastructure gets the less chance BTC will ever hit zero.
The more viral BTC goes the less chance BTC will ever hit zero.
The more businesses accepting BTC ... the chances of BTC hitting $0 become *zero*.
I honestly can't even think of what would have to happen on a global scale that could make BTC drop to $0.
Maybe nuclear war ...
Therefore, statements like the above one, don't seem to reflect an awareness of reality to me anymore.

No government will allow Bitcoin to compete with its local currency

Governments currently are allowing Bitcoin to compete with their local currency. It seems there's something of a stand off going on - governments are aware of Bitcoin, and you would expect their immediate reaction might be to try to ban its use. Unfortunately for them, they only have jurisdiction over their own territory, and Bitcoin is a global currency. So if, say, America were to ban the use of Bitcoin, there's nothing to say China wouldn't simply continue to encourage adoption. At this point, all BTC related business would move to China, leaving the U.S. behind as the rest of the world simply reaped the benefits of this new technology.

Not true, Thailand apposes bitcoin, and we don;t know the reaction of the chinese government towards it if it blows out of proportion, as bitcoin most certainly does not suit the fundamentals of chinese communist ideology

Don;t get me wrong, this isn't a worry for us in western democratic states, however one anti bitcoin sentence from the chinese government will cause a collossal crash, just so we can buy it all up

 i don;t think anyone can disagree that if the chineese government does accept bitcoin, they will most certainly want to be to regulating the exchanges, this will also cause a crash, so now is not the time to buy folks, let the chineese have their fun for the meantime, and lets swoop in later
thats all

[phillipsjk]

One never sells all his bitcoins, even if one has ultra bear views - Fact

Even if "BTC will eventually fail and go to $0"?
I for one second this stance, though it doesn't imply we should not take a chance...

If they are worthless, there is no harm in holding them. The transaction costs would be too high to actually sell them.

[TERA]

BTC will eventually fail and go to $0...  There's my bearish input.

It would be so unbelievably difficult to undo what's being built around the world pertaining to this technology.....
The longer we go with governments and banks doing nothing, the stronger the infrastructure is getting.
The stronger the infrastructure gets the less chance BTC will ever hit zero.
The more viral BTC goes the less chance BTC will ever hit zero.
The more businesses accepting BTC ... the chances of BTC hitting $0 become *zero*.
I honestly can't even think of what would have to happen on a global scale that could make BTC drop to $0.
Maybe nuclear war ...
Therefore, statements like the above one, don't seem to reflect an awareness of reality to me anymore.

I'm talking about an unforseen  unrecoverable technical failure involving the protocol, the internet, cryptography, etc

[Tirapon]

It would be so unbelievably difficult to undo what's being built around the world pertaining to this technology.....
The longer we go with governments and banks doing nothing, the stronger the infrastructure is getting.
The stronger the infrastructure gets the less chance BTC will ever hit zero.
The more viral BTC goes the less chance BTC will ever hit zero.
The more businesses accepting BTC ... the chances of BTC hitting $0 become *zero*.
I honestly can't even think of what would have to happen on a global scale that could make BTC drop to $0.
Maybe nuclear war ...
Therefore, statements like the above one, don't seem to reflect an awareness of reality to me anymore.

No government will allow Bitcoin to compete with its local currency

Governments currently are allowing Bitcoin to compete with their local currency. It seems there's something of a stand off going on - governments are aware of Bitcoin, and you would expect their immediate reaction might be to try to ban its use. Unfortunately for them, they only have jurisdiction over their own territory, and Bitcoin is a global currency. So if, say, America were to ban the use of Bitcoin, there's nothing to say China wouldn't simply continue to encourage adoption. At this point, all BTC related business would move to China, leaving the U.S. behind as the rest of the world simply reaped the benefits of this new technology.

Not true, Thailand apposes bitcoin, and we don;t know the reaction of the chinese government towards it if it blows out of proportion, as bitcoin most certainly does not suit the fundamentals of chinese communist ideology

Don;t get me wrong, this isn't a worry for us in western democratic states, however one anti bitcoin sentence from the chinese government will cause a collossal crash, just so we can buy it all up

 i don;t think anyone can disagree that if the chineese government does accept bitcoin, they will most certainly want to be to regulating the exchanges, this will also cause a crash, so now is not the time to buy folks, let the chineese have their fun for the meantime, and lets swoop in later
thats all

The China/America thing was only to illustrate a point. You also have Europe, Russia, Africa, South America to consider - Basically all it takes is one country to say, 'fuck it, we love Bitcoin - do as you please' and they become the hub of all Bitcoin activity overnight. Then the fact that Bitcoin will still be functional in every other country means that there will probably still be people in those countries using it regardless of legality (as is observed with the prohibition of cannabis, for example)