It's Over

[FreeMonies]

there's no way bitcoin is over! It's the currency of the future. Sure some kinks need to be ironed out, but i'm sure thats once they are bc will be stronger for it.

everyday people are joining the bc phenomenon, new businesses are accepting bc, and soon bc is sure to be a household name. It's because of this FACT that I'm working on implementing a way to accept bc for my space program. once the haters are gone we'll be able to really get things ramped up. keep your eyes open people, this thing can only go up from here!

[Cosbycoin]

There are new alt-chains you can make money off of. But if you're out, you're out.

[Stalin-chan]

Summary of topic, people aren't using bitcoin as a currency just as a scheme to make (insert your current federal denomination here).

[vanDeGraph]

The only thing thats over is the early spec bubble. Once Bitcoins become more useful for your average (stupid) user to make purchases they'll regain traction. Hard to say when they'll bottom out though.

[zer0]

I just need bitcoin to be stable for a few hours while I accept payments. Customer sends me payment, I cash out instantly and usually don't lose any money, sometimes gain a little which covers BTC to LR or cash costs. So hasn't 'failed' for me, although better stability would be good for escrow.

Could care less about speculating rackets or HYIPs

[BitcoinSEC]

Its not over

[Dargo]

It's funny that there is such a loud cry of cynicism on this forum...bitcoins are doomed, turn off your rigs, never make any money, no hope for a vibrant economy...and yet the network hashrate has hardly budged (so far at least). 12.5 Th/s says this ain't done yet.

[worldinacoin]

I mine for the fun of it, so it is not too bad for me.  But I feel that currency trading can be avoided, but we should all encourage the use of bitcoin whenever we can?

[zjbcoins]

Seems to be working just fine for me...

[BitcoinTourist]

Still going

[cbeast]

The second wind is coming. Wait for it.

[kdomanski]

What BitCoin needs now is rapid growth of the number of services and goods one can buy with BTC. Without that, it's impossible for BTC to fulfill it's purpose.

[BitBlitz]

What BitCoin needs now is rapid growth of the number of services and goods one can buy with BTC. Without that, it's impossible for BTC to fulfill it's purpose.

Exactly!

[payb.tc]

What BitCoin needs now is rapid growth of the number of services and goods one can buy with BTC. Without that, it's impossible for BTC to fulfill it's purpose.

while that would be good, i also think simply having another speculative bubble would show people it's not over yet.

[traderjose]

^ agreed

[kdomanski]

What BitCoin needs now is rapid growth of the number of services and goods one can buy with BTC. Without that, it's impossible for BTC to fulfill it's purpose.

while that would be good, i also think simply having another speculative bubble would show people it's not over yet.

What's not over? Speculation? BitCoin is good when it costs $30, and it's good when it costs $0.5. The only ones that care about value are those, who care about $$$, not BTC. The only problem with the current price is it's huge instability, and the only way to solve that is to expand BitCoin economy.

[PatrickHarnett]

What BitCoin needs now is rapid growth of the number of services and goods one can buy with BTC. Without that, it's impossible for BTC to fulfill it's purpose.

while that would be good, i also think simply having another speculative bubble would show people it's not over yet.

What's not over? Speculation? BitCoin is good when it costs $30, and it's good when it costs $0.5. The only ones that care about value are those, who care about $$$, not BTC. The only problem with the current price is it's huge instability, and the only way to solve that is to expand BitCoin economy.

One of the best things about BTC is it's huge instability.

[Anillos]

If you don't like it, don't use it unplug & sell your mining rig.

[BadBear]

not really because the btc economy will have 'ups and downs' like a normal economy but will rebound faster because its smaller, anyways if people just start selling that will drive the price down and then people will start to buy because they will be so cheap ... I think

Problem is, what happens when the price goes back down again, and everyone who would buy them just because they are cheap, have already bought them? No interested buyers left and the price stagnates and continues to drop.  You'll see a few rallies, which will be sold into hard and killed by people who bought too early/miners who want to sell before the price drops again.   

[bittenbob]

I think naturally the price of a bitcoin will settle around the cost of the electricity to mine them. Coincidentally it costs more to produce a bitcoin than it is worth right now so I think eventually it should settle out around $5/BTC. Of course if the new ATI 7xxx series performs as well as the current 6xxx series for mining with half the electricity costs it might be at its stabilized value now. Electricity costs have zero effect on my willingness to mine since I live in an apartment and my landlord recently decided to jack my rent by $40 instead of the $8 which was prescribed for this year. If I can spend an extra $60/month on mining purely out of spite I will.