2011 People Called Bitcoin's Price of $0.70 "Ridiculous"...

[meandmrjones]

Lol... What do y'all think?

Here is a bitcoin discussion that has been going on since 2011  

https://forumserver.twoplustwo.com/30/business-finance-investing/bitcoins-digital-currency-1011408/

[BrewMaster]

it has been the story of bitcoin for years now. every time price rises there are a bunch of people who start calling it "ridiculous" and mainly the term bubble is turning to a synonym of bitcoin! and yet it continues rising up as it is growing with a solid adoption.

you don't have to go to that much length to see these things either, just visit the speculation board and go to the old pages instead of only looking at page 1....

[kenzawak]

The first posts are funny when you think of it now.

i wonder if these people all share the same mental illness, or if it's more of a general hodgepodge of stupid

Maybe some of those guys bought a few BTC out of curiosity and got rich as fuck without really knowing what they were doing.
Good find OP, thanks for this !

[buwaytress]

Always something of a curiosity to read about all these guys. The market today is awash with talk of pioneers trying to disrupt this and revolutionise that, but it's really those guys that started experimenting that are the unsung pioneers. Read a few posts down from OP's link, the same guy dissing OP goes on to show some guy firing up diesel generators to mine Bitcoin. Doesn't sound like concerted manipulation from the few, if you ask me, just some guys trying something that ended up working.

Wonder where all these naysayers are now?

[Onuohakk]

Well the credibility of the forum where that was discussed Ivan very much be questioned regardless bitcoin has always received lashing from critics especially when ever there is a dip they act like a prophet but behind the go to take advantage of the price drop and purchase some bitcoin not minding the FUD they are creating by there actions

[Xardasim]

I think it is wrong to rate everything according to the value of paper money without paying attention to what it is, how it was created and what it could do. Even the paper money which is valuable today originates from humanity itself. But ignoring BTC will return as the greatest regret.

[aoluain]

I wonder if threads from this year complaining about the falling market
will be looked on with humour in 10 or 20 tears time?

The op is funny and the link is great.

Any value to this idea or will it never work?

This assumes that you'll still be able to sell bitcoins for the same rate then. Gonna be lol when they are worthless

I am also wondering if any of those people are now into bitcoin?

[cybernetik7]

Value of BTC can't be described or determined in USD unit. It has more than this and BTC offers a lot for payment systems and transactions. I can't say that all promises given or claimed by the creator and supporters are realized until now. But it is just a matter of time and we'll experience amazing progress in near future.

[killat]

Bitcoin's price is given by the value buyers consider btc has. No matter what people say, if people are willing to pay 70 cents for a btc only, then its value is 0.7$. During ATH its value was 20k. There were only different periods and different market perceptions.

[Kopyleft]

Not everyone can see the potential ina project, but judge it using it's current state in terms of adoption and uses.
Bitcoin was an audacious project, and this got attention quickly, but also skepticism at the possibility of seeing it true.

Fast forward to a couple of years later, adoption and value has both increased, although it's not still at where it could. The next few years would be vital for bitcoin and the financial industry.

[shield132]

That's not so illogical proposal if we consider that was posted in 2011 year but now when people are very pessimistic, they say bitcoin will disappear, it has no future and etc, this is insane.

I think it is wrong to rate everything according to the value of paper money without paying attention to what it is, how it was created and what it could do. Even the paper money which is valuable today originates from humanity itself. But ignoring BTC will return as the greatest regret.

That's not right too because people look bitcoin as an investment option so for them price in usd and euro means a lot. Also people look bitcoin as a payment method which is different from others, just see how they compare bitcoin to paypal which is ridiculous too. That's the way how people see bitcoin.

[dothebeats]

I've no objections on that whatsoever, knowing that that was the year when bitcoin recently came to the forums and troll boxes. Also, during that time, no one really uses or know what bitcoin even is. IMO, when bitcoin is reaching new highs, people would surely be questioning its viability as we clearly haven't been to those ranges before, and we don't know whether we'll be able to penetrate further, or at least maintain our footing for long.

[TheHas]

Haha that's great. Poor guy probably sold out at 70 cents thinking he outsmarted the rest of the community

Wonder if in another 5 years we'll have the equivalent of people saying $4k is ridiculous while bitcoin sits on ATHs.

[ROCKMINEROFFICIAL]

I think it is wrong to rate everything according to the value of paper money without paying attention to what it is, how it was created and what it could do. Even the paper money which is valuable today originates from humanity itself. But ignoring BTC will return as the greatest regret.

Couldn't agree more!

[pooya87]

the worst part of it is that the comments have not even changed which means the innovation of FUDsters doesn't even exist anymore, they are just copying what has been said for years without even putting the smallest amount of thought into it.

Wonder if in another 5 years we'll have the equivalent of people saying $4k is ridiculous while bitcoin sits on ATHs.

you don't have to wait 5 years. they are saying $4k is ridiculous right now too! basically at any time and at any price (no matter what price it is) there are a bunch of idiots who are saying the same thing!

[joshv06]

Haha that's great. Poor guy probably sold out at 70 cents thinking he outsmarted the rest of the community

Wonder if in another 5 years we'll have the equivalent of people saying $4k is ridiculous while bitcoin sits on ATHs.

They should have waited for few years then they couldn't have said Bitcoin Ridiculous. BTC growth was very quick within few years it reached the position which we have never think about it and now also it will be going to reach to good value we just need to be calm and wait for the good time coming ahead.

[TheHas]

Haha that's great. Poor guy probably sold out at 70 cents thinking he outsmarted the rest of the community

Wonder if in another 5 years we'll have the equivalent of people saying $4k is ridiculous while bitcoin sits on ATHs.

They should have waited for few years then they couldn't have said Bitcoin Ridiculous. BTC growth was very quick within few years it reached the position which we have never think about it and now also it will be going to reach to good value we just need to be calm and wait for the good time coming ahead.

I think predicting when ATHs will be is almost impossible.

I still think it is strange that someone would join a bitcoin forum to argue that bitcoin is worthless. Kind of seems misplaced.

[figmentofmyass]

Lol... What do y'all think?

Here is a bitcoin discussion that has been going on since 2011  

https://forumserver.twoplustwo.com/30/business-finance-investing/bitcoins-digital-currency-1011408/

it's funny you bring up 2+2. i played a lot of online poker back in 2010-11 and i was a regular on the 2+2 forums. those forums were actually my first exposure to bitcoin. everyone made fun of it, so i never took it seriously.

the US government shut down my main sources of income around that time---pokerstars and full tilt. a year later, i was buying bitcoins. not because i knew anything about the technology but because i could play poker on seals with clubs with BTC and not worry about banking problems. the poker sites still serving the USA kept having money seized, checks would always bounce, etc

seals with clubs was kind of a bust but i became a bitcoiner after that. it was really empowering. i don't think the 2+2 crowd ever really wrapped their head around it.

[Insufficient]

We can now look at it as funny. How i wish i know bitcoin and crypto in general back in those days. Never too late though as this industry is so young and so much more can happen. There is always a positive things hopping on board early to everything.

[Pursuer]

Haha that's great. Poor guy probably sold out at 70 cents thinking he outsmarted the rest of the community

Wonder if in another 5 years we'll have the equivalent of people saying $4k is ridiculous while bitcoin sits on ATHs.

They should have waited for few years then they couldn't have said Bitcoin Ridiculous. BTC growth was very quick within few years it reached the position which we have never think about it

the bitcoin rises (growth) has always been fast and will remain that way for a long time simply because of how the adoption works in addition to all the roadblocks that are being placed in front of adoption. each time one of them is broken into (like an FUD being debunked,... ) there is a surge of adoption which leads to a big price rise which most of the times surprises people because they can't explain it.