2014 is NOT the year of bitcoin, sorry

[Dafar]

Everyone's expectations after 2013 were just way too high. This is the year of FUD! Mark my words, we're gonna be riding a shit storm all the way through the end of 2014.

This is the year that's gonna test your will and shake off the weak hands. This year will weed off the people who jumped into bitcoin thinking they will earn a quick buck, those who thought bitcoin's price just goes up every year like it's a pattern set in stone. I'm sure a lot of them jumped off by now thanks for mt. cox (btw-- the price is $635 right now... imo a good buy even if we go down further). The ones who remain will be the ones who believe in bitcoin for the longterm.

Let's be honest here... 2013 was the year of bitcoin. 2014 not so much... I think 2015 might be the next "year of bitcoin" ...Wrinklevoss ETF and Wallstreet might trigger the next rally, and that won't happen this year.

Did you expect everyone to safely ride the train to 10k? No. Only the ones who take the risk and hold on might enjoy the ride to $10K.. and even that is not a surefire bet anymore.

[adamselene]

we're gonna be riding a shit storm all the way through the end of 2014.

Best way to kickstart a Year of FUD is with quotes like this.

[Meuh6879]

2013 was the year of bitcoin. 2014 not so much... I think 2015 might be the next "year of bitcoin" ...

  we are in Februar, man ... (16,7% of the year !)

[BitcoinBobbeh]

Jesus...

Do you realize we are 11.5% through the year?

That's about 42 days.

Last year's meteoric rise from 200 to 1200 took place in less time than that.


The fact is nobody has a fucking clue what is going to happen despite you thinking you know otherwise.

You are not an Amazon.com executive who is "in the know" about the next big move, you are not the FBI agent with his finger on the sell button for those Silk Road coins, you are not a professor of economics, are you are not Marty fucking McFly.

In July the price could be nearing $2,000 and every post will be talking about how close we are to "da moon". Nobody knows.

I don't like the speculation forum - I only use it a few minutes each day to fantasize about $100,000 Bitcoins, then I snap back into reality. Welcome to it.



Edit: Nevermind, I'm like 90% sure I just got trolled.

[BittBurger]

Dafar.  

Its the 2nd week of February.  
Compare Feb 2013 to Nov 2013.
Are humans really this dumb?  
I swear I can't take it much longer here...

-B-

[vpitcher07]

We're a month into 2014 and you're already calling this year as a bust. If you're trolling you're doing a good job...

[rocks]

I agree that 2013 was the year of bitcoin, there was enormous growth in: 1) individual adoption, 2) businesses using bitcoin, 3) price and 4) press. This will be hard to replicate in any year.

So what is the next year of bitcoin by your definition? Mainstream adoption, fiat currency replacement? If so we are a ways from that still (unfortunately)

[nakaone]

I agree that 2013 was the year of bitcoin, there was enormous growth in: 1) individual adoption, 2) businesses using bitcoin, 3) price and 4) press. This will be hard to replicate in any year.

So what is the next year of bitcoin by your definition? Mainstream adoption, fiat currency replacement? If so we are a ways from that still (unfortunately)

mass understanding of the technology

smart regulation

wall street



more or less 99% of the world population still have not understood what bitcoin is:

Bitcoin solved a problem thought to be impossible to solve amongst computer scientists. How to get a bunch of people who don't trust each other to reach a consensus. The implications are mind blowing.


although not completely true

http://www.reddit.com/r/Bitcoin/comments/1tt88c/today_i_realized_that_satoshi_nakamotos_great/

[ISAWHIM]

2014 is the "Year of investment"... there are no new toys to buy, and investing is the only safe thing to do now. (Just not as fiat investments. Those never return more then the value they lose over time.)

Those bashing BTC either have no actual clue what is going on, or they are simply trying to get you to lower your prices for discount BTC before the real spike coming in the following months.

Nothing has changed... Bad news makes people look harder when the market does the complete opposite of predictions. They realize all the crap-news is just bloggers trying to make money getting hits for ads, riding the coat-tails of BTC, in an attempt to seem "informed".

They are rolling the dice, and losing, while BTC, as a whole, wins... There is no such thing as bad news, only bad advertisements. News is something that people didn't know, and is truthful, and is backed by some kind of substance. There is little "news" that exists anymore. Just a bunch of people who like to hear themselves talk, like me, talking.

Where is BTC going... Inevitably up... Now, well, down, until the majority all thinks it will keep going down, then it will switch directions again. Which-ever way the majority thinks it will go (those acting on thoughts), it will always go the other way. Because if it went the way everyone thought it would go, we would all be winners, and thus, be losers with zero value. That is the way "value" works.

Me, I see a 60% off sale on BTC, and will be investing my income-taxes as soon as they arrive. Just like many people did last year, and the year before that. Those start arriving now, and will come for the next three months. Look back on the charts... That is when the "real spikes" come. This spike was just a prelude to the real spike. You have not seen anything yet!

Those who say I can't predict the market rising... Because they "clearly see it falling"... I say... "If I can't predict its rise, then you can't predict its fall. At the end of the day, I am the one making money off my speculations, you are just speculating something you don't actually participate in, and don't understand."

I expect it to fall... I need it to fall... To get those discount coins! lol.

I never said it wouldn't fall, I said it would go up to _____ price... and it does... but not before falling, where I swipe it up. Game isn't over until you cash-out and put money in your pocket... then you are out of the game, and we keep playing. You can lose by not playing, unlike a lottery. Because the longer you hold fiat, the less valuable fiat becomes. That is the only "truth" of fiat. Assets are the only real value. Ironically, virtual assets are the most valuable, because they are so limited.

P.S. Don't mistake "growing pains" for failure and decline... BTC is still on the greatest rise in history. It "is too big to fail"... sound familiar? But that is not true... nothing is ever too big to fail. Banks are failing because they are banks. BTC is thriving because it is BTC. It is, "just as simple as that", deal with it. Big things need to fail. BTC is not that big yet... Give it another five years, then it can be tested for failure, but unlike banks and governments, it will not. Because they are already participating in it, whether they lie it or not. They don't control as much as they like to think they do. That is their short-coming.

[BitcoinTate]

It is way to early into 2014 to make this kind of call. If anything the current news will make Bitcoin and cryptos that much stronger. You can always tell if it is a time to buy or sell based upon the headlines in the Bitcoin Discussion thread. Now is definitely a time to buy.

[ISAWHIM]

It is way to early into 2014 to make this kind of call. If anything the current news will make Bitcoin and cryptos that much stronger. You can always tell if it is a time to buy or sell based upon the headlines in the Bitcoin Discussion thread. Now is definitely a time to buy.

No.. not yet.. let it fall to $200 first... I want more BTC for my money!

Why buy it at 60% off, when you can get it at 80% off!

Why buy one, when you can have two for twice the price!

[BitcoinTate]

It is way to early into 2014 to make this kind of call. If anything the current news will make Bitcoin and cryptos that much stronger. You can always tell if it is a time to buy or sell based upon the headlines in the Bitcoin Discussion thread. Now is definitely a time to buy.

No.. not yet.. let it fall to $200 first... I want more BTC for my money!

Why buy it at 60% off, when you can get it at 80% off!

I too am waiting to buy much more at an 80% discount, I have the fiat waiting and ready to go

[rix5]

it is february. Just be patient man. I'll be back in this thread in July to discuss again. 

[ISAWHIM]

Income-taxes coming... now you know why Gox is holding the market low... Guess where the majority will deposit funds to buy... The lowest exchange.

lol. I see that as a wise strategy move, not bad news...

BTCe got all the low funds all summer (millions), what they actually were able to get deposited, and Gox will get all the funds from income-tax time (billions). That is more money flowing into Gox than any other exchange, and all they have to do is hold the price low a little longer, which costs them nothing to do, but will reward them millions in exchange fees from trades all year long. Smart!

[Lauda]

Dafar.  

Its the 2nd week of February.  
Compare Feb 2013 to Nov 2013.
Are humans really this dumb?  
I swear I can't take it much longer here...

-B-

This is starting to get on my nerves too. Obviously quite a good percentage in the population are this dumb..
If you compare the price from last February it has increased by a factor of 27. If we had a growth again in another year by a factor of 20.. you do the math.

[Dafar]

mass understanding of the technology

smart regulation

wall street

I agree and I'm bullish for the long term but not this year my friend, not this year. At least not for the first half of this year. FUD is too strong, too many weak hands holding bitcoin for a quick buck.

it is february. Just be patient man. I'll be back in this thread in July to discuss again.  

Well I hope you can prove me wrong but I wouldn't bet on it.

Dafar.  

Its the 2nd week of February.  
Compare Feb 2013 to Nov 2013.
Are humans really this dumb?  
I swear I can't take it much longer here...

-B-

This is starting to get on my nerves too. Obviously quite a good percentage in the population are this dumb..
If you compare the price from last February it has increased by a factor of 27. If we had a growth again in another year by a factor of 20.. you do the math.

So wait, you're both calling me dumb because your speculation is different from my speculation? Because I don't believe we'll see the same trend that we did on 2013? Get the fuck out of here

I know this is only February. I made a thread on December 2013 saying we're gonna be on a sideways journey for a LONG time (long as in most of 2014) and I still believe that to be true. You guys are the dumbasses thinking we're gonna have exact same patterns as the years before. Things are different now. The reason we even broke 1000 was because of China, but now they're kinda out of the picture and not contributing to the price like they were last year. There are a lot more noobs holding bitcoin that will panic sell at the drop of a pin. The market cap is much higher now and the money needed to cause another price hike is significantly more than before... right now there is NOTHING in the near horizon that will attribute to that. Maybe if we are lucky we will hear a giant like Netflix or Amazon say they want to accept bitcoin, but it's unlikely for that to happen in these unstable times, and even so the jump won't be as significant without a huge amount of money coming in.

Do you remember the crash on July 2011 that took over a year to recover? And the crash on April 2013 which took 6 months to recover? That recovery was quick thanks to China's fake bullish stance and the US Senate hearings which cleared up the fear of bitcoin being banned form the US. So what makes you think we will just magically recover form this bubble? We need something extremely significant to happen this year for a recovery and rally above the ATH of 1240 and that may not happen until the end of 2014 or next year. People will not find bitcoin very attractive this year with all this FUD going around and rumors of exchanges halting people from withdrawing money.

Let's not throw out insults like a 12 year old just because you disagree. You obviously have no counter argument besides "oh look at the chart on feb 2013"!

[bitminerinthecloud]

Hmm, OP, can you help me? Please give me 6 numbers from 1-60? Thank you in advance.

[Dafar]

Hmm, OP, can you help me? Please give me 6 numbers from 1-60? Thank you in advance.

1, 2, 3, 4, 5, 6

[BitChick]

OP- Bitcoin was not that exciting last year in January or February either.  Can you at least wait until March to make this statement? 

[jongameson]

go to hell loser.  as long as we can buy weed and cocaine with bitcoins everything will be a-OK!!