Media : Bitcoin is Done

[Rassah]

The only thing bitcoiners can do is to fight the hoarders as much as they can. Dont use MtGox and bitcoinica and send a message to the hoarders.

Fight the hoarders? Is the money I worked hard to earn, which I then put into the bitcoin economy in order to boost is value and get some bitcoin to hoard, not worth anything? Sure, I may not be working directly for bitcoin, but it's not as if I just pulled my hoarded bitcoin, or the money used to buy it with, right out of my ass.

[BitterTea]

And last time I checked Bitcoin is more than twice as valuable as the dollar.

Oh, sure, 1BTC is currently worth $2.5.  Of course, that's no comfort at all the vast majority of people who initially bought bitcoins after May.  In that case they have less value now than they spent.

And the U.S. housing and stock markets? Are those "done" too?

[­­­Atlas_]

Self-entitled Bitcoin User: We won't stand for you having all those Bitcoins. Redistribute your wealth or we'll...

Hoarder: ...do what?

Self-entitled Bitcoin User: We won't use Bitcoins!

Hoarder: What about your weed, Jimmy? Aren't you on house probation?

Self-entitled Bitcoin User: ...

Hoarder: That's what I thought.

[Steve]

I've noticed the journalism around bitcoin often seems pretty incestuous that way.
It looks like in this slew of articles, it might have been Adrianne Jeffries' little snippet in Betabeat that set the tone;
the reddit user's quote she used has ended up in a few articles.

Why some random redditors quote is newsworthy I don't know.  

It's not newsworthy, it's useful...poke around a forum long enough and you'll find someone that's says something that serves your agenda...then you quote it.  And, of course, if can't find what you're looking for, you just register under a pseudonym and post something that serves your agenda...then you quote it.

[Sannyasi]

one person wrote each of those articles and another person (probably) approved them.... yay for looking letting someone else make decisions about what you think

[Are-you-a-wizard?]

If people uninstall the client then it's done.

http://bitcoinstatus.rowit.co.uk/

[cypherdoc]

Bitcoin can't go away. Its impossible even if 75% of the user base uninstalled their clients.

You have Solidcoin salivating and planning his revenge over and over with the doublespend attack when the network power drops to that level.

LOL!  that clown?  you gotta be kidding me.  he has enough of his own troubles picking up the remnants of Solidcoin which didn't turn out to be so solid afterall.

[PatrickHarnett]

Interesting link and graphs - it does show some declines, but it also says it is far from saturation (pessimism and optimism).

So because I only occasionally open my wallet, I'm responsible for the fall?

[ShadowOfHarbringer]

http://news.google.com/news/more?q=bitcoin&hl=en&client=ubuntu&hs=FgY&channel=fs&prmd=imvnsl&bav=on.2,or.r_gc.r_pw.,cf.osb&biw=1366&bih=563&um=1&ie=UTF-8&ncl=dXqLm7jYQ9qJ4_M_U-BYFQco_2LzM&ei=SLCdTuONDOzXiALsh-XNCQ&sa=X&oi=news_result&ct=more-results&resnum=1&ved=0CCsQqgIwAA

Forbes,  Wired,  Ars,  all of them saying it's toast.

Excellent news.

For those of you that do not understand this yet: These (mainstream) media (by "mainstream" i mean forbes, i don't know about ars & wired) are our enemies as they support the current (banking) system. Anything they say cannot be taken seriously as it is hostile propaganda. They also were getting us a lot of unneeded attention from large speculators, which could even more destabilize BTC market (again) if they entered it too early.

The sooner large media lose their interest in us and stop affecting our economy, the better.

When they (finally) leave us alone, we will flourish. What we need is stable, progressive, slow development, not insane speed and insane bubbles (what we just witnessed).

[Rassah]

I now keep my wallet closed most of the time because of Comcast's 250gig monthly limit. Bitcoin app alone can sometimes use up 7gigs in one day sharing the blockchain. Beginning of the month I try to keep it open more.

[nighteyes]

The only thing bitcoiners can do is to fight the hoarders as much as they can. Dont use MtGox and bitcoinica and send a message to the hoarders.

Fight the hoarders? Is the money I worked hard to earn, which I then put into the bitcoin economy in order to boost is value and get some bitcoin to hoard, not worth anything? Sure, I may not be working directly for bitcoin, but it's not as if I just pulled my hoarded bitcoin, or the money used to buy it with, right out of my ass.

I empathize with you, since there is no decent way to lend or invest unused money for the average joe....if one holds 50 bitcoins and then donates 50% to programming efforts, it wont do squat when Mt gorilla Gox sits still.

I just keep saving away USD in case things improve....hoarders get no bailout from me. Its either spend,sell, or die....and the more you get rid of the ability to 'sell', the better of it is right now. I dont know about the merchants....an exchange that just allows merchants to sell into USD;D

[ShadowOfHarbringer]

I now keep my wallet closed most of the time because of Comcast's 250gig monthly limit. Bitcoin app alone can sometimes use up 7gigs in one day sharing the blockchain. Beginning of the month I try to keep it open more.

You still have monthly bandwidth limits ?
OMG, and people say that my country is so called "developing world".

Currently i have 6Mbit at home & 20Mbit at work, no B/W caps at all.

But speeds up to 50 or even 100Mbit (uncapped of course) are avaiable in different regions of the city.

[ribuck]

For the first few years after Wikipedia was launched, it was widely ridiculed. It was written off by many journalists as something that could never possibly work.

Many journalists have a very short attention span. Ten years from now they'll be using Bitcoin daily and will have forgotten that they ever dissed it. Just like with Wikipedia.

[MatthewLM]

I'm pretty sure the bitcoin black markets wont die out soon.

Ten years from now they'll be using Bitcoin daily and will have forgotten that they ever dissed it. Just like with Wikipedia.

That would drive governments up the wall for the better (less government) or worse (more government to counteract bitcoin).

[Rassah]

I now keep my wallet closed most of the time because of Comcast's 250gig monthly limit. Bitcoin app alone can sometimes use up 7gigs in one day sharing the blockchain. Beginning of the month I try to keep it open more.

You still have monthly bandwidth limits ?
OMG, and people say that my country is so called "developing world".

Not "still," the bandwidth limits here in US is a new thing, just one or two years old. Our web and cell providers didn't used to have those...

[giszmo]

Bitcoin value crashes below cost of production as broader use stutters

Not for everyone...

mining difficulty going down is a wonderful thing

... difficulty is the only thing that secures BTC. I don't mind if BTC falls into a 10 years slumber of low rates. I would mind though if some competing chain or banking cartel would destroy and control our block chain.

[Mageant]

http://news.google.com/news/more?q=bitcoin&hl=en&client=ubuntu&hs=FgY&channel=fs&prmd=imvnsl&bav=on.2,or.r_gc.r_pw.,cf.osb&biw=1366&bih=563&um=1&ie=UTF-8&ncl=dXqLm7jYQ9qJ4_M_U-BYFQco_2LzM&ei=SLCdTuONDOzXiALsh-XNCQ&sa=X&oi=news_result&ct=more-results&resnum=1&ved=0CCsQqgIwAA

Forbes,  Wired,  Ars,  all of them saying it's toast.

That what they want people to believe.
Remember some of these organisations (at least Forbes and Guardian) support the current system and Bitcoin is a threat to the system.

Furthermore look at this quote from geekosystem!:

At least one Reddit user is speculating that one Bitcoin will be word one USD sometime soon, effectively making Bitcoin worthless — not in that one USD is worthless, but in that one can simply use USD to pay for things instead of go through the process of obtaining Bitcoins.

http://www.geekosystem.com/price-bitcoin-falls-below-mining/
So using Bitcoins is only worthwhile if they are more worth than 1$

[evoorhees]

Here is a fun list of things that also died along with Bitcoin...

http://technologizer.com/2010/08/18/the-tragic-death-of-practically-everything/

[cypherdoc]

you have to remember that Bitcoin is MORE of a threat to the current system than even gold or silver.  why?  because the monetary task masters do not have any Bitcoin, at least that we know of.  at least the Fed has what they report they have of gold in Fort Knox which supposedly is the largest stash in the world.  with Bitcoin they don't even have a foot in the game which is why its SO threatening.

[SgtSpike]

I now keep my wallet closed most of the time because of Comcast's 250gig monthly limit. Bitcoin app alone can sometimes use up 7gigs in one day sharing the blockchain. Beginning of the month I try to keep it open more.

You know, I've gone way past Comcast's supposed "limit" every month for the past year, and never had a problem.  One month, even had more than 1TB of upload.  Most months it's 500-750GB.  I honestly wouldn't sweat it unless they give you a warning.