Has there been a time when you nearly lost your faith in Bitcoin?

[gabriella]

when it went down from $30 to $2 i was so close to turning off the lights and walked out never to return.

[BittBurger]

Ill be honest, when it went down to $550 this last time, I spent a few days losing my faith in the idiots who are screwing with the trading market, and my faith in people's ability to read articles correctly, and my faith in human beings ability to remain rationally grounded, rather than run for the hills screaming and crying for no valid reason.

But I never lost faith in Bitcoin.   Why would I?  It never changed.   It's the same from the beginning.

-Burger-

[domob]

When I initially discovered Bitcoins in 2011 (after the bubble, though), I was immediately attracted to their great technical achievement and potential ... but I bought way to less at that time.   Only with the beginning of 2013 I began to see this potential being realised step by step.  So you could say that I lost faith (or didn't have that much) during the time from mid 2011 to early 2013, where I just hold a couple of coins and almost never checked the charts / wasn't even registered at the forum yet.

[wumpus]

The only time I was a bit concerned was when Satoshi left. Luckily, the other core dev team members and the rest of the community have picked up the pieces very well.

[rat]

when i came to these forums -

i lost all faith.

[wumpus]

I think P2Pool should be built into the reference client

What's stopping you?

[domob]

The fact that I am a lumberjack and not a coder. I've done much of what my limited skill set allows me to do regarding P2Pool. I've spent days upon days discussing it on these forums and helping people understand it's benefits. I've spent quite a bit of coin on donations to the P2Pool miners. I've helped people set up P2Pool even though I have no special technical computer skills. I, myself, have mined at P2Pool.

When I looked at P2Pool, my "problem" with it was that it seemed to "only" decrease the difficulty reguired by a factor of 60 (or so).  With my limited hash rate, this would still be by far too high to get meaningfully "constant" returns.  Is this (still?) the case, so that I can only use P2Pool with, say, 1TH/s+, or can I also mine with it at difficulties comparable to pool shares?  (Roughly for me, I would say that a "share difficulty" of 1k-10k would be acceptable.)

[empoweoqwj]

when it went down from $30 to $2 i was so close to turning off the lights and walked out never to return.

And you are *so* glad you didn't 

Honestly, I've only been in the bitcoin game since March, and its "crashed" at least 3 times already, but its come back stronger every time. The amount of energy surrounding bitcoin is simply astonishing so ... no, I've never yet come close to losing my faith in bitcoin. Crashes don't even bother me any more, I just see them as "typical bitcoin volatility"

[Liquid]

No the idea is beyond comprehension 

[Light]

Yeah, sure I've had multiple times when I've almost thrown the ball away and just completely quit, but in the end I've stuck it out (most of the way) and for it I've gotten better (mostly monetarily). Although as far as interest goes, I've peaked then done nothing then peaked again etc so I can't say I'm always on the ball when it comes to Bitcoin.

[teukon]

when it went down from $30 to $2 i was so close to turning off the lights and walked out never to return.

Oddly enough, this is when my faith was restored.  I bought many coins as they went below $5.

It was the sudden rise in value from $1 to $8 (May 2011) and corresponding explosion in greedy, mindless evangelists on the forum (I was a lurker at the time) that had me selling furiously and recommending my friends do the same.

I recall one of my friends, about to retire, asking me about my bitcoins.  He was interested in buying some from me (1000 BTC) as a speculative portion of his retirement portfolio.  I advised against it. 

[Mike Christ]

Its been nearly a year since I heard about Bitcoin.  I'm still pumped about it

I do find it interesting that we're talking about losing faith in bitcoin due to its price, however; it's not as if the core mechanic of bitcoin goes away when the price shifts.  I'll lose faith in bitcoin once nobody wants to use it anymore, but I think I'll still find a great use in it, even if it's a niche.  By then however, I think I'd be pumped about Bitcoin 2.0 and would have forgotten about the original

[bryant.coleman]

No. So far I haven't lost my faith in the BTCs even for a micro-second.

But I know a number of people, many of them among the earliest supporters of Bitcoin losing faith in it. The reason was fraud, wallet theft.etc.

[hilariousandco]

when i came to these forums -

i lost all faith.

+1 :-)

haha. I have both hope and faith in Bitcoin. 2014 is going to be the year of BTC. I'm excited to see what develops.

[jeppe]

Never, but think Bitcoin is just the begging and another currency will take over at some point (but not in the near future)

[empoweoqwj]

No. So far I haven't lost my faith in the BTCs even for a micro-second.

But I know a number of people, many of them among the earliest supporters of Bitcoin losing faith in it. The reason was fraud, wallet theft.etc.

Yeah, if you have all your bitcoins stolen, which has happened far too frequently in the bitcoin wild west, that would certainly cause you to lose faith, in humanity if nothing else.

[lysanderspooner]

I don't have faith in Bitcoin anymore because it's a fraud. No I'm not a Troll, I gave it a chance. I think it's a scam to bring in a new one world currency. The Fed Reserve wants this. JP Morgan Chase wants this. The tyrants of Wallstreet want this. China wants this. Can this not be any clearer? Even the so called "Bitcoin Foundation" are kissing the boots of the illegitimate government to regulate it and use it for their needs...The coverage has been everywhere on this despite other topics of greater concern are ignored. So this stinks to high hell and I'm done for the most part. I think other elements of survival in this Brave New World are more reassuring like metal, ammo, and etc.

[Mike Christ]

I don't have faith in Bitcoin anymore because it's a fraud. No I'm not a Troll, I gave it a chance. I think it's a scam to bring in a new one world currency. The Fed Reserve wants this. JP Morgan Chase wants this. The tyrants of Wallstreet want this. China wants this. Can this not be any clearer? Even the so called "Bitcoin Foundation" are kissing the boots of the illegitimate government to regulate it and use it for their needs...The coverage has been everywhere on this despite other topics of greater concern are ignored. So this stinks to high hell and I'm done for the most part. I think other elements of survival in this Brave New World are more reassuring like metal, ammo, and etc.

I have to disagree with you here; the fact that you can create an infinite amount of bitcoin clones makes crypto-currencies "slippery", meaning it would be very difficult to get any single one set in stone.  Your worries will be absolved once you go through the actual steps required to enforce the use of bitcoin on a global scale; it can't happen without certain prerequisites (such as complete and total compliance over how and when you use your internet), and those prerequisites don't necessitate bitcoin to control you; I'd be more worried about no currencies if governments achieve compliance on that scale.

[SilverandBitcoins]

when it went down from $30 to $2 i was so close to turning off the lights and walked out never to return.

And you are *so* glad you didn't 

Honestly, I've only been in the bitcoin game since March, and its "crashed" at least 3 times already, but its come back stronger every time. The amount of energy surrounding bitcoin is simply astonishing so ... no, I've never yet come close to losing my faith in bitcoin. Crashes don't even bother me any more, I just see them as "typical bitcoin volatility"

.
 Have you gotten to the point where you can predict where the price of BTC will head during the crashes and comebacks so that you can buy low and possibly sell high?

[empoweoqwj]

when it went down from $30 to $2 i was so close to turning off the lights and walked out never to return.

And you are *so* glad you didn't 

Honestly, I've only been in the bitcoin game since March, and its "crashed" at least 3 times already, but its come back stronger every time. The amount of energy surrounding bitcoin is simply astonishing so ... no, I've never yet come close to losing my faith in bitcoin. Crashes don't even bother me any more, I just see them as "typical bitcoin volatility"

.
 Have you gotten to the point where you can predict where the price of BTC will head during the crashes and comebacks so that you can buy low and possibly sell high?

Well I certainly don't "panic sell" which is the first reaction of people new to bitcoin. They see the price going down and down and just feel compelled to hit the sell button. That's why people were selling for $560 to $650 just a few days ago when they probably bought for $1000 or more. *Never* panic sell. If the price drops 20% to 30% its a massive buying opportunity, because (much) more than likely the price will be double within a month.