Confirmed Bad News Sources Thread - No FUD, Just Facts!!!1

[YoYa]

In case anyone questions my authority on these matters, you can check out an endorsement here.

I too endorse this endorsement. NamelessOne is correct in that proudhon is a pillar of wisdom in the bitcoin community who has been here since the start. An oracle of past crashes, he has always been spot on and invaluable to the community. It's been a fun five years, but looks like it's not time to hang up the asic chips and call it a day on the alpaca ranch.

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[proudhon]

Here's some terrible English language bad news.  Summary below:

1.  Overstock.com started accepting bitcoin
2.  They did $100,000+ sales in 24hours

The bad news is that despite this, the bitstamp price is below $1000.  This just demonstrates that bitcoin has reached its saturation point.  Even without governments planning large scale attacks on bitcoin, it would likely die this year anyway.

Actually Peter Schiff said exactly that!  That overstock accepting bitcoin as payment is bad news for the price because HODLERS  ( he didnt use that word) will spend their coins and will flood the market...

Peter Schiff texted me the other day to help me understand just how bad the Overstock news is.  Combined the government attacks, it clearly spells the end for bitcoin.

[TPN]

Here's some terrible English language bad news.  Summary below:

1.  Overstock.com started accepting bitcoin
2.  They did $100,000+ sales in 24hours

The bad news is that despite this, the bitstamp price is below $1000.  This just demonstrates that bitcoin has reached its saturation point.  Even without governments planning large scale attacks on bitcoin, it would likely die this year anyway.

Actually Peter Schiff said exactly that!  That overstock accepting bitcoin as payment is bad news for the price because HODLERS  ( he didnt use that word) will spend their coins and will flood the market...

Peter Schiff texted me the other day to help me understand just how bad the Overstock news is.  Combined the government attacks, it clearly spells the end for bitcoin.

So much nonsense coming from you

[proudhon]

Here's some terrible English language bad news.  Summary below:

1.  Overstock.com started accepting bitcoin
2.  They did $100,000+ sales in 24hours

The bad news is that despite this, the bitstamp price is below $1000.  This just demonstrates that bitcoin has reached its saturation point.  Even without governments planning large scale attacks on bitcoin, it would likely die this year anyway.

Actually Peter Schiff said exactly that!  That overstock accepting bitcoin as payment is bad news for the price because HODLERS  ( he didnt use that word) will spend their coins and will flood the market...

Peter Schiff texted me the other day to help me understand just how bad the Overstock news is.  Combined the government attacks, it clearly spells the end for bitcoin.

So much nonsense coming from you

If you don't believe my sources, just check the price, which is clearly down on all exchanges from the highs in the $1000s.  Downtrend is confirmed by technical analysis and bad news sources, especially foreign language sources.

[T.Stuart]

Thought I'd throw this one your way Proudhon!

"BITCOIN IS LIKE NORTH KOREA!"

http://www.businessinsider.com/bitcoin-inequality-2014-1

Enjoy! 

EDIT: Just read the article. Actually the writer doesn't think that Bitcoin being like North Korea is a big deal. What else can I do? 

Sorry 

[ElectricMucus]

Oh wise satoshi, supreme leader of our people.

[mistress_magpie]

Good. Let it go down to something reasonable and people will start using it as a means of exchange, rather than as a store of value.

[ElectricMucus]

EDIT: Just read the article. Actually the writer doesn't think that Bitcoin being like North Korea is a big deal. What else can I do?  

Actually he doesn't comment on whenever it is a big deal or not. Despite that it is kind of important because an excessively high gini-coeffcient does yield stunted economic development.

[T.Stuart]

EDIT: Just read the article. Actually the writer doesn't think that Bitcoin being like North Korea is a big deal. What else can I do?  

Actually he doesn't comment on whenever it is a big deal or not. Despite that it is kind of important because an excessively high gini-coeffcient does yield stunted economic development.

The author's own words:

"Thus talking about the Gini coefficient might make as much sense as talking about the Gini coefficient of, a public company, which has a combination of ultra-large individual and institutional shareholders and then a series of irrelevantly tiny minnow shareholders. Does that unequal distribution matter? Eh, not that much."

[ElectricMucus]

EDIT: Just read the article. Actually the writer doesn't think that Bitcoin being like North Korea is a big deal. What else can I do? 

Actually he doesn't comment on whenever it is a big deal or not. Despite that it is kind of important because an excessively high gini-coeffcient does yield stunted economic development.

The author's own words:

"Thus talking about the Gini coefficient might make as much sense as talking about the Gini coefficient of, a public company, which has a combination of ultra-large individual and institutional shareholders and then a series of irrelevantly tiny minnow shareholders. Does that unequal distribution matter? Eh, not that much."

Well he doesn't seem to share the opinion that Bitcoin is supposed to be or become a currency either...

[T.Stuart]

EDIT: Just read the article. Actually the writer doesn't think that Bitcoin being like North Korea is a big deal. What else can I do?  

Actually he doesn't comment on whenever it is a big deal or not. Despite that it is kind of important because an excessively high gini-coeffcient does yield stunted economic development.

The author's own words:

"Thus talking about the Gini coefficient might make as much sense as talking about the Gini coefficient of, a public company, which has a combination of ultra-large individual and institutional shareholders and then a series of irrelevantly tiny minnow shareholders. Does that unequal distribution matter? Eh, not that much."

Well he doesn't seem to share the opinion that Bitcoin is supposed to be or become a currency either...

That's the beautiful thing about it: Bitcoin is a multi-faceted asset - a totally new idea which no-one can try to get their head around properly without making reference to old ideas which only cover part of it at best!  

[ElectricMucus]

an excessively high gini-coeffcient does yield stunted economic development

[T.Stuart]

an excessively high gini-coeffcient does yield stunted economic development

But, according to the author, not so relevant in the scenario he proposes.

[ElectricMucus]

What scenario does he propose Stuart?

[davidgdg]

...It's obvious bitcoin has gone as far as it can go, but any other thoughts about this devastating news?

This is very bearish too:

http://www.chinatimes.com/realtimenews/20140112002925-260405

[KARHU]

Please use this thread to only post confirmed news from confirmed sources to help everyone understand what is obvious - bitcoin is in a downtrend to oblivion.  

My latest find comes, of course, from official sources in China and details how the Chinese government is planning a massive 99% attack on the blockchain.  I'll put the main points below, but anyone can check the facts from the source:

1.  Chinese offials delcare bitcoin a global financial virus
2.  Officials from other nations are in agreement with china China, including the US
3.  The Chinese government has millions of petahashes ready to deploy on the blockchain to destroy the protocol
4.  In addition to attacking the blockchian, China will sell all their mined bitcoins on MtGox

It's obvious bitcoin has gone as far as it can go, but any other thoughts about this devastating news?

The Proudhon is wise to give alms to KARHU, KARHU will reward the Proudhon greatly. May you prosper Proudhon, son of Hon!

[proudhon]

...It's obvious bitcoin has gone as far as it can go, but any other thoughts about this devastating news?

This is very bearish too:

http://www.chinatimes.com/realtimenews/20140112002925-260405

Wow!  You're right.  Thanks for confirming this.  I don't have time to do it right now, so perhaps you can list the major bad points from that link so those who can't read Chinese can understand just how bad it is.  Thanks again.

[Tisko]

...It's obvious bitcoin has gone as far as it can go, but any other thoughts about this devastating news?

This is very bearish too:

http://www.chinatimes.com/realtimenews/20140112002925-260405

Wow!  You're right.  Thanks for confirming this.  I don't have time to do it right now, so perhaps you can list the major bad points from that link so those who can't read Chinese can understand just how bad it is.  Thanks again.

The major points are as follows (quite obvious, really):

http://www.chinatimes.com/newsphoto/2014-01-12/1024/20140112002929.jpg

[mistress_magpie]

Ah, so Pedobear is big in Taiwan

[Kungfucheez]

Ah, so Pedobear is big in Taiwan

That's Asia for you