The End of Bitcoin as a speculative Investment

[cosmofly]

Bitcoin is not dead, but as an investment it is dead. Bitcoin peaked at $1200 and that was the maximum it will ever get to.

Even if wall street comes, it will just keep going up and down between like $400 - $800 but we will never see $2000 or $5000 $10,000 etc. It will still be very profitable for pro day traders something like forex, but no more 300% + returns for average joe buy and holders who are majority.

Bitcoin will now be used as a currency for remitance, etc. But even that might not happen because of government, in only the past two month half the world banned Bitcoin:

China,Russia, india, Middle east and Gulf countries, all banned bitcoin these countries have the most money and even like USA and Canada all want to put massive regulation. All these factors means mainstream investment is dead.

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[N12]

Are you kidding me? This has all happened before! It will all happen again!

Look at the damn history.

[pungopete468]

Nope. I disagree...

That would make no sense as our rate of adoption is increasing more rapidly than ever... Even after we reach 50% of our maximum market saturation the price will continue to climb for a few years and taper into a steady price as the supply relative to the demand decreases...

[cosmofly]

Nope. I disagree...

That would make no sense as our rate of adoption is increasing more rapidly than ever... Even after we reach 50% of our maximum market saturation the price will continue to climb for a few years and taper into a steady price as the supply relative to the demand decreases...

Adoption? What adoption. U really think ppl will go to ATM put cash loose 4% fee then transfer bitcoin loose more money because volitality then purchase an item? Bitcoin is fundamentally useless unless the price keeps going up siginificantly.

With credit card it takes one minute to buy online right now and if u get scammed u get refund!

Ppl lost confidence in bitcoin even btc foundation doesn't care anymore.

JUST think about it, Bitcoin doesn't make sense anymore unless it acts as a speculative investmebt, otherwise it offers nothing. And with all these major countries banning it, it will never become a world reserve currency

[cosmofly]

Are you kidding me? This has all happened before! It will all happen again!

Look at the damn history.

Umm no I looked at the history, never before bitcoin was banned worldwide from the largrst economies in the world. Never before 1 million customers lost 90% value of their btc in box and after mallebility bug ppl lost confidence in bitcoin foundation devs who r doing nothing

[rograz]

You must be new around here.

[Bit_Happy]

Are you kidding me? This has all happened before! It will all happen again!

Look at the damn history.

Umm no I looked at the history, never before bitcoin was banned worldwide from the largrst economies in the world. Never before 1 million customers lost 90% value of their btc in box and after mallebility bug ppl lost confidence in bitcoin foundation devs who r doing nothing

Making something illegal tends to raise the price, but that might not work for BTC.
In many places BTC is legal and thriving.
These are great days for BTC. 

[cypherdoc]

You must be new around here.

No, he just doesn't understand Bitcoin.

[pungopete468]

Nope. I disagree...

That would make no sense as our rate of adoption is increasing more rapidly than ever... Even after we reach 50% of our maximum market saturation the price will continue to climb for a few years and taper into a steady price as the supply relative to the demand decreases...

Adoption? What adoption. U really think ppl will go to ATM put cash loose 4% fee then transfer bitcoin loose more money because volitality then purchase an item? Bitcoin is fundamentally useless unless the price keeps going up siginificantly.

With credit card it takes one minute to buy online right now and if u get scammed u get refund!

Ppl lost confidence in bitcoin even btc foundation doesn't care anymore.

JUST think about it, Bitcoin doesn't make sense anymore unless it acts as a speculative investmebt, otherwise it offers nothing. And with all these major countries banning it, it will never become a world reserve currency

- The number of new unique Bitcoin wallets created daily is increasing exponentially... This is a sign of adoption. More people = more adoption.

- The countries that banned it can't stop it. They can only cede productivity to other areas that embrace it.

- When you get your identity stolen then tell me how well that works in reality. It's never just a transaction... Next thing you know you've got medical records with somebody elses' blood type...

- Who lost faith in Bitcoin that had it before this? Not me or anybody I know...

- Property Rights, Contracts, Arbitration, and more coming to the blockchain soon.

- Bitcoin offers nothing less now than it ever has before; actually it's the inverse of that. It's way more useful than ever before and gaining new uses rapidly.

- I can pay with Bitcoin much faster than I can type in my CC info; especially on a mobile device.

[anu]

Bitcoin is not dead, but as an investment it is dead. Bitcoin peaked at $1200 and that was the maximum it will ever get to.

Even if wall street comes, it will just keep going up and down between like $400 - $800 but we will never see $2000 or $5000 $10,000 etc. It will still be very profitable for pro day traders something like forex, but no more 300% + returns for average joe buy and holders who are majority.

Bitcoin will now be used as a currency for remitance, etc. But even that might not happen because of government, in only the past two month half the world banned Bitcoin:

China,Russia, india, Middle east and Gulf countries, all banned bitcoin these countries have the most money and even like USA and Canada all want to put massive regulation. All these factors means mainstream investment is dead.

Bitcoin is not dead, but as an investment it is dead. Bitcoin peaked at $32 and that was the maximum it will ever get to.
Bitcoin is not dead, but as an investment it is dead. Bitcoin peaked at $266 and that was the maximum it will ever get to.

[Cyberlight]

You must be joking.

Complete nonsense.... when the Winklevoss ETF opens , the price will skyrocket.

If you don't understand that you're stupid, sorry to say.

[kireinaha]

he's right that it's really only useful as a speculative intsrument; people would be crazy to use bitcoin for day to day purchases given that it offers zero consumer protections. believe it or not identity theft will still be very possible, credit cards or bitcoin be damned. people care about money, they don't want to be ripped off!

i disagree that this is the end of bitcoin's usefulness as a speculation though; nothing has fundamentally changed and it still has the sexy appeal and luster as before. people will keep buying to be part of the "currency of the future" and will drive the price up.

[dave111223]

I love the smell of capitulation in the morning.

[anu]

people would be crazy to use bitcoin for day to day purchases given that it offers zero consumer protections.

people would be crazy to use CASH for day to day purchases given that it offers zero consumer protections.

Customer protection is helping chargeback fraudsters not honest customers. This kind of customer protection is paid for by honest customers, because shops need to add the 3-6% of chargeback fraud and costs associated with it on the price.

This kind of customer protection also disadvantages small shops - Amazon can deal with chargebacks in an automated fashion. As always, when big corporations or govt is "doing something for your protection", it is just to enable them to control you and rip you off.

[Hyena]

I'm asking this in advance:
"How does it feel to be wrong, OP? Does it burn?"

[T.Stuart]

I love the smell of capitulation in the morning.

My morning capitulation usually follows coffee and a bowl of fruit 

[Sorry, bad joke]

[FNG]

Even if wall street comes, it will just keep going up and down between like $400 - $800

add 2 0's to each of those

do you think wall st is going to come with pocket change?

[Cyberlight]

Even if wall street comes, it will just keep going up and down between like $400 - $800

add 2 0's to each of those

do you think wall st is going to come with pocket change?

That.

[cosmofly]

Bitcoin current situation reminds me of the demise of gold and silver.

I was around when Gold peaked at almost $2000 per ounce, there were this huge number of newcomers buying at those prices and the situation was the exact same thing. As the prices started to crash all the early adopter who bought gold at $200-$800 were saying we went through this before, it will go up again bla bla ignoring the signs of peak. I remember in kitco forums some dude went like ALL IN at $1900 per ounce with like $1million of his life savings.

Now look at all the bag holders of gold who lost 50% of their holdings in the past 2 years and might take another 5 years for them to break even. The only ones making money is pro day traders who trade gold and silver on the minor swings.

The same thing with bitcoin will happen, I am seeing the exact same environment play out here.

[trcwhale]

Bitcoin current situation reminds me of the demise of gold and silver.

I was around when Gold peaked at almost $2000 per ounce, there were this huge number of newcomers buying at those prices and the situation was the exact same thing. As the prices started to crash all the early adopter who bought gold at $200-$800 were saying we went through this before, it will go up again bla bla ignoring the signs of peak. I remember in kitco forums some dude went like ALL IN at $1900 per ounce with like $1million of his life savings.

Now look at all the bag holders of gold who lost 50% of their holdings in the past 2 years and might take another 5 years for them to break even. The only ones making money is pro day traders who trade gold and silver on the minor swings.

The same thing with bitcoin will happen, I am seeing the exact same environment play out here.

Well gold is gold existed for millions of years. Bitcoin is very new. The full potential of BTC is not yet fully realized. We are just scratching the surface of what is possible with the protocol. I believe the technology has more potential than gold in long and short term unless of course if you think BTC is just gold 2.0.