Here is why Bitcoin can only go down

[danherbias07]

Wrong comparison. Go back into learning more about economics. You are not in the right field to just judge how crypto currency market will work.
Hell, even with other kind of commodities you are still in the wrong line.

You might want to change yourself from being pessimistic into optimistic when it comes to crypto.
The market here is volatile and it cannot be judge by just one kind.

[Timzim103]

In the same sense, bitcoin is just numbers associated to addresses that are transferred through the network from one address to another via some protocol.

This is not a very strong argument for your statement that Bitcoin can only go down. "In the same sense" as you put it, gold is just a substance extracted from the ground and the greenback is just a type of paper with fancy markings on it.

[Eclipse26]

You make your point but you compared the wrong things. Motorola is a cellphone. Cellphones are faster to develop. Every year a single company releases newest version. The value of a cellphone depreciates over time. While with bitcoin, it doesn't just depreciate, it fluctuate. A cellphone is constant with depreciating until it reaches it's lowest value. While in bitcoin, although it does decrease, it also increase. I am not saying that bitcoin will reach 1,000,000 dollars but what I'm saying it's still possible unlike a cellphone you're comparing

[yoseph]

After reading all that OP is talking about, it seems it all gets down to the fact that he thinks that another cryptocurrency will come and become more dominant than Bitcoin but from all I have seen there hasn't been any other alt coin that has come close to even doing that. The most talked about Bitcoin Cash which has a larger block size and far cheaper transaction fee couldn't even stand the test of time.

[hermawan9416]

But the price is going up again, what fall are you talking about?

[virasog]

After reading all that OP is talking about, it seems it all gets down to the fact that he thinks that another cryptocurrency will come and become more dominant than Bitcoin but from all I have seen there hasn't been any other alt coin that has come close to even doing that. The most talked about Bitcoin Cash which has a larger block size and far cheaper transaction fee couldn't even stand the test of time.

No other crypto currencies can compete with bitcoins no matter it is bitcoin cash , Eth , ripple or any other currency. All of these theories and  forecast have failed and bitcoin always stays on top and it will continue to dominate the crypto market.

I feel pity on people who think bitcoin is close to death.

[bitvalak]

Imagine that Motorola - the first company which manufactured a truly wireless communication device in 1983, designed its production system so that it can produce only 10,000 mobile phones a year. Now, does that mean these phones would have been more scarce every single day because the population is almost required to increase its demand? And would that mean the price of Motorola phones will rise to $1,000,000? No. Why? Because people will simply associate and produce their own wireless communication devices, as these devices are just chips, resistors, transistors, capacitors, inductors, and diodes joined together the right way. And it s not only Motorola that is capable to put electronic components together.

In the same sense, bitcoin is just numbers associated to addresses that are transferred through the network from one address to another via some protocol. And it is not only Satoshi Nakamoto who is capable to design such paying system. This system is not Michelangelo's Pietà or Leonardo da Vinci's Mona Lisa. It is just numbers, addresses, database, and protocols. Everybody is capable to create that. So, no rational reason exists for bitcoin to cost 1,000,000 dollars. There is no reason for people to enter into fast, transparent and cheap payment system for $1,000,000, or even $10, if they can enter it for $0.001(altcoins) or if they can associate and design their own crypto payment system.

Bitcoin is simply a mega-bubble that diminished people's ability to think rationally. Bitcoin can only go down to the price of an average coin. Just like Motorola's phones have prices of average phones.

You cannot equate all things that are clearly different variables. Communication devices and crypto have different developments.
You say if the system about bitcoin can be made by everyone, now which tokens or coins can rival the dominance of bitcoin?
I know that you are really frustrated with the current state of bitcoin, because I believe that you are only oriented to the price of bitcoin, not to how bitcoin can be applied to real life, man.

[kro55]

Lover and haters everywhere. Not only crypto. First of all I saw thousands of calculation like you.saw thousands of posts that bitcoin will be 0.01$ or bitcoin will be dead. But finally bitcoin is more than 7500$ right now.hope i will see same post when bitcoin price will be more than 30k$.but no matter bitcoin is bitcoin. Lovers will love and haters will hate.       

Every new technology faces criticism in the start, its a natural fact. Important point is BTC community firmly believe in the strengths of Bitcoin and its the BTC community that is driving the upword price of Bitcoin. If we see Bitcoin journey from 2009 to 2019, we clearly see Bitcoin has gained global attention despite too much criticism from centralized financial institutes.

[mindrust]

Is that why it has been going only up?

I wonder how would you explain this chart?

https://images2.imgbox.com/15/4b/H7Wr77AN_o.png

As you see, it started from "0". Bitcoin is on a path from nothing to everything. Everything= Total collapse of the current financial system which is going to be replaced by bitcoin.

[jets567]

OP is a man of pure negativity because at the moment of this post, Bitcoin is up with 1.94% and trading around $7,662 so about OP saying Bitcoin can only go down is a pure lie

[LogitechMouse]

Lover and haters everywhere. Not only crypto. First of all I saw thousands of calculation like you.saw thousands of posts that bitcoin will be 0.01$ or bitcoin will be dead. But finally bitcoin is more than 7500$ right now.hope i will see same post when bitcoin price will be more than 30k$.but no matter bitcoin is bitcoin. Lovers will love and haters will hate.       

In all aspects of life, even you do the best things in the world you will always have haters on your side bashing here and bashing there. This goes with crypto too. I have seen already Bitcoin obituaries in the internet already for almost 2 years of being in crypto and I have read numerous negative articles already regarding Bitcoin but where is it now??

Many are saying that it will be dead in X years but it didn't happen. Yes we saw some dips in the price of it but it is just normal for a market like crypto. Fuck those haters we don't care about you.

[cutesgirl]

Wrong comparison. Go back into learning more about economics. You are not in the right field to just judge how crypto currency market will work.
Hell, even with other kind of commodities you are still in the wrong line.

You might want to change yourself from being pessimistic into optimistic when it comes to crypto.
The market here is volatile and it cannot be judge by just one kind.

Bitcoin can growing up when many positive news and many investor buy with higher amount, other side need respond from bigger people or company to make bitcoin look interested, after bitcoin have higher price many people can take much profit but when bitcoin goes down you have wait for keep your money and holding is best thing.

[antikvark]

I see a lot of responders saying I cannot compare Motorola as a company with Bitcoin. Well, I am not comparing the two. I am comparing limited supply of phones and coins by using an argument from analogy. This argument does not assert that the two things are identical, only that they are similar. The structure or form of this argument may be generalized like so:

P and Q are similar in respect to property x.
P has been observed to have further property y.
Therefore, Q has property y also.

In my example I assumed limited supply of Motorola cellular phones. Meaning, Motorola phones(P) and Bitcoin(Q) are similar in respect to limited supply(x). Then I made the second premise: limited supply of Motorola phones wouldn't lead to drastic price growth because people would simply produce their own cellular phones - they would simply produce their own wireless communication devices(y). And then the conclusion followed: limited supply of Bitcoin won't lead to drastic price growth because people will simply produce their own coins - they will simply design their own crypto payment systems (y).

And this is exactly what is happening with the inflation of altcoins - people are designing their own crypto payment systems. Simply, there is no rational reason for people to enter into fast, transparent and cheap payment system(Bitcoin) for $7K, or even for $10, if they can enter such system for $0.001(altcoins) or if they can design their own systems.

That is also the reason why Bitcoin is a mega-bubble and can only go down to the price of an average coin.

[PointHope]

Imagine that Motorola - the first company which manufactured a truly wireless communication device in 1983, designed its production system so that it can produce only 10,000 mobile phones a year. Now, does that mean these phones would have been more scarce every single day because the population is almost required to increase its demand? And would that mean the price of Motorola phones will rise to $1,000,000? No. Why? Because people will simply associate and produce their own wireless communication devices, as these devices are just chips, resistors, transistors, capacitors, inductors, and diodes joined together the right way. And it s not only Motorola that is capable to put electronic components together.

In the same sense, bitcoin is just numbers associated to addresses. These numbers are transferred through the network from one address to another via some protocol. And it is not only Satoshi Nakamoto who is capable to design such paying system. This system is not Michelangelo's Pietà or Leonardo da Vinci's Mona Lisa. It is just numbers, addresses, database, and protocols. Everybody is capable to create that. So, no rational reason exists for bitcoin to cost 1,000,000 dollars. There is no reason for people to enter into fast, transparent and cheap payment system for $1,000,000, or even $10, if they can enter it for $0.001(altcoins) or if they can associate and design their own crypto payment system.

Bitcoin is simply a mega-bubble that diminished people's ability to think rationally. Bitcoin can only go down to the price of an average coin. Just like Motorola's phones have prices of average phones.

You've completely misundertood and utterly failed to comprehend what Bitcoin is, what it signifies, and how unique and intrinsic value is established.

[Murat]

I don't have any clue why you are comparing a phone with Bitcoin, These two things are totally different in many aspects, not only that but also the Mobile phone has an improving matter whereas Bitcoin is a certain thing which could not be improved, the popularity of a Mobile phone is totally depended on the features and other system but Bitcoin and Cryptocurrency is not like that, so the comparison is not suitable to these issues, that's why at first, you have to choose two similar product to compare with each other then you have to do this, you haven't well in this thread so far.

[Kambal2000]

You've completely misundertood and utterly failed to comprehend what Bitcoin is, what it signifies, and how unique and intrinsic value is established.

Yeah, I don't know why he's comparing Bitcoin over phone, of course that's not the main reason, crypto entirely depends on the number of users/investors and not because of it. We should be aware that although Bitcoin and other crypto has a lot of whales that can control the market, so if it drops the price for sure they are manipulating it especially if there is negative news regarding crypto.

[Pamadar]

OP is a man of pure negativity because at the moment of this post, Bitcoin is up with 1.94% and trading around $7,662 so about OP saying Bitcoin can only go down is a pure lie

Which is more interesting to believe than wasting your time listening to negativity. Fluctuations are part of this market and if you are not open to this then you should go away and stop following this industry. You have to understand that there's up and down and only believers who will continue chasing the opportunities though it's free to all who wanted to continue following the progress but for those who can't then no one is stopping them to quit.

[pooya87]

if you believed even 1% of the nonsense you keep writing in bitcoin board then you wouldn't have ever wasted your time posting it here! instead you would have gone and bought the shitcoins you think are better than bitcoin and used them....
but wait you are still here and keep coming back repeating the same nonsense, so what should be think? trolling or panic seller who was caught with his pants down as price didn't go as low as he wanted?

[Reid]

What is with you and Motorola?
Did you break your phone or something and they won't repair it anymore?
Why compare it with bitcoin?
What is with you?
3 days with just the same statement, you are just changing the way it is being used as a sentence.

They will not believe a ridiculous claim like this and you are a newbie. Perhaps you should build your reputation first then maybe we will read the whole story behind it.

[antikvark]

What is with you and Motorola?
Did you break your phone or something and they won't repair it anymore?
Why compare it with bitcoin?
What is with you?
3 days with just the same statement, you are just changing the way it is being used as a sentence.

They will not believe a ridiculous claim like this and you are a newbie. Perhaps you should build your reputation first then maybe we will read the whole story behind it.

I am not comparing the two. I am comparing limited supply of phones and coins by using an argument from analogy. See the OP(edited).