2014 is NOT the year of bitcoin, sorry

[Winalunt]

The price is going to raise , stay steady for 2014 !

[DaFockBro]

It was $25/coin one year ago today

[MashRinx]

...you are not a professor of economics...

Funny you bring this up.  I had a fairly lengthy conversation over Thanksgiving weekend with a macro econ professor at a well-known university in the US and in the conversation he kept falling back to comments that showed zero understanding of how Bitcoin works and how it is different.  This conversation just confirmed for me how long the road is to people really understanding Digital Currencies and how they are and can be different.  Although an econ professor is probably more likely to fall back to concepts and patterns that they understand and live/teach everyday, I think many of those same points are valid for the uninformed public as well.

Maybe not totally relevant to the topic, but the point of us having a long way to go is still important, IMO.

[Lauda]

OP mad for buying in at the wrong time.

[OlliBrandt80]

Your expectations for 2014 are too depressing.

[Trance]

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.

We're talking about an industry countries are hindering but it is a billion dollar industry! Cryptocurrencies would be a great one world currency 
2014 WILL be a VERY good year for Bitcoin!

Have some faith and ambition, it's all about innovating companies affiliated with BTC and bringing in jobs for the international community! Speaking three languages fluently I can say that I'm putting a damper on learning another spoken language and primarily learning code, learning to code with the amount of advancement in technology (Computing power DOUBLES nearly every 18+ months, only because large companies want to make you wait and spend a ton of money on hardware that costs cents, for example BFL miners LOL..Apple's iPhone, come out with new iPhones with old technology, make them even cheaper and charge even more!)

[Cyberlight]

OP just spreading fud, 2014 will be booming!

[Lauda]

This is the best time to buy in the last 3-4 months.

[Jay-c]

Do think this is a great time to buy.

Even the negative publicity is helping. If you're trading over mining then every drop and raise in price is potential. Media are all "OMG@BTC DERP FUD DERP FUD - Is this the end of BTC?"

And when they eventually come round and go "hey why don't you buy $5 and see what happens?"......

[LiteCoinGuy]

FUD year  

[rohnearner]

btc haven't done that good in 2014 till now, but then again a year is of 365 days, 5 hours, 48 minutes, 46 seconds so we got a lot of time . I never like to judge things too early.. will wait ..

[toddfletcher]

Two bad weeks in February and it's a "bad year"?

What was wrong with January? We had a very stable price and a steady stream of good if not amazing news.

People were even complaining that bitcoin got boring. It should be boring, because this is a time when tons of infrastructure work is being done behind the scenes. Remember all the VC that's been dumped into BTC startups last year? That money will take some time to surface as new services. By summer, if not sooner, we'll be seeing the fruits of that investment.

[freebit13]

2014 will be the year of the bitcoin ATM! It's all about easing the transformation and making it accessible. Bitcoin is only 'crashing' right now to help those who feel they missed the boat also get on board... Satoshi probably built it into the source code 

[hilariousandco]

Two bad weeks in February and it's a "bad year"?

What was wrong with January? We had a very stable price and a steady stream of good if not amazing news.

People were even complaining that bitcoin got boring. It should be boring, because this is a time when tons of infrastructure work is being done behind the scenes. Remember all the VC that's been dumped into BTC startups last year? That money will take some time to surface as new services. By summer, if not sooner, we'll be seeing the fruits of that investment.

Time moves fast in Bitcoinworld. Two months is essentially 3-4 months in real time  .

2014 will be the year of the bitcoin ATM! It's all about easing the transformation and making it accessible. Bitcoin is only 'crashing' right now to help those who feel they missed the boat also get on board... Satoshi probably built it into the source code  

I'm sure these ATMs will start popping up all over the place during the course of the year. This year has gotten off to a arguably bad / slow start, but I'm sure this will change soon enough. I think people just start panicking if their money isn't growing like they'd hope, but those people are probably in Bitcoin for the wrong reasons anyway.

[coastermonger]

I heard folks clamoring for the death knell of bitcoin many times back in 2013 as well.

There was a time when we weren't even sure bitcoin was legal in the United States, and concerns about Fincen were rampant.

March saw a very sharp drop in the market following a hard fork, which the devs subsequently fixed and things returned to normal a week later

No one was sure whether ASICs existed for a time, and BFL and Avalon had longer delays than your average gestation period for an elephant. There are more failed and scam mining companies than I can count

Exchanges, wallets, and services, and businesses were getting hacked, shut down, or flopping.  The list of failures is substantial: Ziggap, Bitinstant, Bitspend, Instawallet, bitcoin24, inputs.io, those are just off the top of my head. On and on we go.

MtGox was screwing up even back then with the DDoS attacks, Dwolla fiasco, seized funds for failing to register as an MSB, and growing withdrawal delays that basically started the long slow death of their market

You couldn't read 10 sentences into a media article on Bitcoin without some kind of mention of the silk road and other scandalous dark purposes people could possibly use their money for.  

Economists balked, businesses bypassed it, Paypal, banks, and ebay screwed users over or cut them off when trying to use it.

Government seizures of hidden websites caused panic.  Financial Authorities issued warnings against it.  Regulatory hurdles stifled the development of new ETF markets and ATM services.  Tax questions caused uncertainty.  China Boomed, then restricted bitcoin. India floundered.  Several European countries including France looked down their nose at BTC. December saw a series of enormous crashes and pullbacks from all time highs.  

And you know what?  we're still here

Price went up over 100-fold in 2013.  Adoption rate exploded.  More people are interested in it than ever before and new ideas and talents are being brought to the table.  I cannot even begin to imagine what 2014 has in store.

[rohnearner]

2014 will be the year of the bitcoin ATM! It's all about easing the transformation and making it accessible. Bitcoin is only 'crashing' right now to help those who feel they missed the boat also get on board... Satoshi probably built it into the source code 

Agree.. the countries where btc is already legalized must get btc atm's that will make it more popular and will give btc's more and more required exposure  ..!    

[BitChick]

I heard folks clamoring for the death knell of bitcoin many times back in 2013 as well.

There was a time when we weren't even sure bitcoin was legal in the United States, and concerns about Fincen were rampant.

March saw a very sharp drop in the market following a hard fork, which the devs subsequently fixed and things returned to normal a week later

No one was sure whether ASICs existed for a time, and BFL and Avalon had longer delays than your average gestation period for an elephant. There are more failed and scam mining companies than I can count

Exchanges, wallets, and services, and businesses were getting hacked, shut down, or flopping.  The list of failures is substantial: Ziggap, Bitinstant, Bitspend, Instawallet, bitcoin24, inputs.io, those are just off the top of my head. On and on we go.

MtGox was screwing up even back then with the DDoS attacks, Dwolla fiasco, seized funds for failing to register as an MSB, and growing withdrawal delays that basically started the long slow death of their market

You couldn't read 10 sentences into a media article on Bitcoin without some kind of mention of the silk road and other scandalous dark purposes people could possibly use their money for.  

Economists balked, businesses bypassed it, Paypal, banks, and ebay screwed users over or cut them off when trying to use it.

Government seizures of hidden websites caused panic.  Financial Authorities issued warnings against it.  Regulatory hurdles stifled the development of new ETF markets and ATM services.  Tax questions caused uncertainty.  China Boomed, then restricted bitcoin. India floundered.  Several European countries including France looked down their nose at BTC. December saw a series of enormous crashes and pullbacks from all time highs.  

And you know what?  we're still here

Price went up over 100-fold in 2013.  Adoption rate exploded.  More people are interested in it than ever before and new ideas and talents are being brought to the table.  I cannot even begin to imagine what 2014 has in store.

+1

I have been around since March of last year and agree.  It is crazy to read this though.  We have come such a long way!  Sure, there the road will still have some bumps in it but I think each of these hurdles just prove how strong the currency really is.  Good times ahead for sure!

[blaaaaacksuit]

When there is blood in the streets, buy.

[freebit13]

I heard folks clamoring for the death knell of bitcoin many times back in 2013 as well.

There was a time when we weren't even sure bitcoin was legal in the United States, and concerns about Fincen were rampant.

March saw a very sharp drop in the market following a hard fork, which the devs subsequently fixed and things returned to normal a week later

No one was sure whether ASICs existed for a time, and BFL and Avalon had longer delays than your average gestation period for an elephant. There are more failed and scam mining companies than I can count

Exchanges, wallets, and services, and businesses were getting hacked, shut down, or flopping.  The list of failures is substantial: Ziggap, Bitinstant, Bitspend, Instawallet, bitcoin24, inputs.io, those are just off the top of my head. On and on we go.

MtGox was screwing up even back then with the DDoS attacks, Dwolla fiasco, seized funds for failing to register as an MSB, and growing withdrawal delays that basically started the long slow death of their market

You couldn't read 10 sentences into a media article on Bitcoin without some kind of mention of the silk road and other scandalous dark purposes people could possibly use their money for.  

Economists balked, businesses bypassed it, Paypal, banks, and ebay screwed users over or cut them off when trying to use it.

Government seizures of hidden websites caused panic.  Financial Authorities issued warnings against it.  Regulatory hurdles stifled the development of new ETF markets and ATM services.  Tax questions caused uncertainty.  China Boomed, then restricted bitcoin. India floundered.  Several European countries including France looked down their nose at BTC. December saw a series of enormous crashes and pullbacks from all time highs.  

And you know what?  we're still here

Price went up over 100-fold in 2013.  Adoption rate exploded.  More people are interested in it than ever before and new ideas and talents are being brought to the table.  I cannot even begin to imagine what 2014 has in store.

+1

I have been around since March of last year and agree.  It is crazy to read this though.  We have come such a long way!  Sure, there the road will still have some bumps in it but I think each of these hurdles just prove how strong the currency really is.  Good times ahead for sure!

+2

I think a lot of people bought at the top or thereabouts with the idea that it was going to keep going and they are all in panic mode because it's not here now... it's just a little bump in the graph if you zoom out  

[BitChick]

Let's see, with all of the hurdles we had to overcome last year we still went up 100x.

So, using the undervalued GOX price right at this second at $462 we could end up at $46,200 at the end of the year.