bitcoin is most likely going to die, here is why...

[SnapDown22]

I do not own any bitcoin, but I knew about bitcoin 6 years ago, before most people even heard about it. Except I didn't buy it then, I was wrong about that prediction. So I am trying to see if I can make some money now.

But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too. 

In my view, there are several problems:

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".

2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.

3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.

other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.


I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.

my answer is my belief and belief in bitcoin because bitcoin currency pioneer crypto and bitcoin use advancement era and technology so bitcoin will develop also forward

[btctalk123]

Looking at the situation on the market this year many of us can decide that it goes to the end. But the only if you really believe in it, you will wait for the grows of the market.

[Jenn09]

I don't think bitcoin will going to die now even sooner. Bitcoin is much stable than other cryptocurrency and has a chance to hit its peak price soon, I guess we just give it some time to recover from its losses. Still I believed that it will recover and stay longer here in crypto world.

[ronalsi]

If you think Bitcoin will die is the biggest mistake of your life, it is accepted by IT enthusiasts and freelance people who get a fair share of it and believe in it according to the thought.

[laryillary]

According to one version, Bitcoin's understated cost is indirectly related to the EU proposal to consider a method for regulating crypto currency. The regulator advocated the direct collection, processing and introduction into the database of confidential information about holders of digital purses. The possibility of data exchange with law enforcement agencies is also being considered.

[Himanshu111]

I do not own any bitcoin, but I knew about bitcoin 6 years ago, before most people even heard about it. Except I didn't buy it then, I was wrong about that prediction. So I am trying to see if I can make some money now.

But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.  

In my view, there are several problems:

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".

2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.

3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.

other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.


I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.

I think there is no reason that could justify this statement that bitcoin is going to die soon because I heard many people saying bitcoin is a bubble that would burst soon or a Ponzi scheme or a chit fund company who will promise you that they will double your money then they will run away , I consider these people morons because they are not able to understand the real potential of bitcoin and for them I will wait till the bitcoin will be declared as central currency world wide, to prove them wrong.

[Marlo Stanfield]

According to one version, Bitcoin's understated cost is indirectly related to the EU proposal to consider a method for regulating crypto currency. The regulator advocated the direct collection, processing and introduction into the database of confidential information about holders of digital purses. The possibility of data exchange with law enforcement agencies is also being considered.

That sounds pretty unrealistic and I highly doubt anything of that scale will ever happen. If they started from scratch with their own digital money, maybe. But trying to gather and control the existing crypto to conform with that plan sounds like a bit of a pipe dream.

[Sarastiche]

It is certain that Bitcoin  is not going to die, in my own view Bitcoin is the real answer to the cashless policy advocated globally, The Bitcoin technology  is still evolving, sure we will get to a level when It will be mostly accepted globally and it will synchronise the world togther. Bitcoin is the digital currency of this age that is here to revolutionalise how we trade.

[MetalGear]

I do not believe Bitcoin will die, even though there has been a technological change sometime in the future. Bitcoin will stay alive, and the demand will remain overwhelming.

I never believe bitcoin will die, I know they have  technological change in the future. Bitcoin live longer stay alive and higher demand in the market will remain in bitcoin. Bitcoin always recover from all the trials he faced cause bitcoin have great potential .

[Pinkris128]

Perhaps bitcoin will dip into $4000 by the end of year.

it will not happen again.  Bitcoin will not be able to reach $ 4,000 by the end of this year. Now the cryptocurrency market is showing signs of recovery. I believe the bitcoin will hit $ 10k later this year

How sure all of you on what price bitcoin will be in the end of the year? All of that things that you are saying are just prediction. No one knows what exactly the value of it. And all people hope that it might go up again before the end of 2017 end. I believe bitcoin will not die as it was continue developing now.

[markint]

Of course, no innovation related to digital technology is designed to last forever, but is conceived as a development that will have to evolve over the years to adapt to the needs of a world that is also facing changes permanently. And from what has been seen, bitcoin has proven to have enough flexibility (and a committed team of developers) to show that it still has a lot to offer to current and future society, so from my point of view all of us who believe in this technology we still have a lot of space to expect a bright future for the bitcoin for the next ten or fifteen years at least, before it evolves into something that we can not even imagine today.

[kotajikikox]

Your gonna make negative news for bitcoin if feel bitcoin is not worht for just stay away do not make statements to destroy the focus of the Bitcoin community and hiw you can sure bitcoin will be die and how you can sure bitcoin aren't valuable like a gold.

[Satish147]

I do not own any bitcoin, but I knew about bitcoin 6 years ago, before most people even heard about it. Except I didn't buy it then, I was wrong about that prediction. So I am trying to see if I can make some money now.

But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.  

In my view, there are several problems:

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".

2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.

3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.

other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.


I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.

Bitcoin is entirely different from Altcoins as what you mentioned here as other cryptocurrencies. Because Bitcoin platform has no ownership on single person and not owned by single entity and creator of Bitcoin also not known. It is governed by the people. Fiat has value because people believes that fiat has value. Bitcoin gains its value when people are trying to accept it as currency. Why gold gets value because it is scarce and good looking. Bitcoin also have same properties and not only Bitcoin can be moved to anywhere in the world in seconds unlike gold and Fiat.
 

[kickso]

I believe we will definitely see 20k BTC again

[dmitry6]

Bitcoin will never die because millions of bitcoins is exist and whenever internet exist bitcoin survive. also peoples talk about negatively about bitcoin because market in downtrend also these kind of panic creating by whales who are controlling market and buying bitcoins from panic peoples and they making profit in bullish market so patience keeper and experience trader never sell their bitcoin in loss.

[jemarleon]

If you really think that bitcoin will die then why are you so interested about it and want to invest? also you are here in this forum. Most users here are here because they believe in this technology we invest money and time just to study about this technology and get profit in the future.

If you still not convince about bitcoin maybe you still dont read what is it all about.

[Fujiati]

I do not own any bitcoin, but I knew about bitcoin 6 years ago, before most people even heard about it. Except I didn't buy it then, I was wrong about that prediction. So I am trying to see if I can make some money now.

But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.  

In my view, there are several problems:

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".

2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.

3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.

other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.


I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.

I'm not sure bitcoin can die easily for all that reason, even the opposite because bitcoin has begun to rise again and will surpass the highest price ever. bitcoin is so strong it will not easily die just like that.

[Raphagalthena2]

don't talk so much about the future of something, it not even exist. All we got here is the present,now, the vision of something we believing that it will make the world more better and deserve to investing it. Stay patient.

[Cotton Candy]

I do not own any bitcoin, but I knew about bitcoin 6 years ago, before most people even heard about it. Except I didn't buy it then, I was wrong about that prediction. So I am trying to see if I can make some money now.

But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.  

In my view, there are several problems:

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".

2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.

3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.

other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.


I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.

Bitcoin will never kick the bucket since a great many bitcoins is exist and at whatever point web exist bitcoin survive. additionally people groups discuss contrarily about bitcoin in light of the fact that market in downtrend likewise these sort of frenzy making by whales who are controlling business sector and purchasing bitcoins from freeze people groups and they making benefit in bullish market so tolerance attendant and experience merchant never offer their bitcoin in misfortune.

[princehandsome]

I do not believe about it because Bitcoin will still be alive as long as there are still people who invest and still many the use this digital currency. no one will know about Bitcoin's future because it is difficult for predict.