Here is why Bitcoin can only go down

[Eugenar]

Why would you even compare it to a mobile phone?
As you can see all of the alt's didn't even replace or overtake Bitcoin in the past 10 years so how could you even compare it to the first mobile phone?
You are just one of those people who doesn't believe in Bitcoin and how could you say that it can only go down when it already proves that it can go up so many times before.

If the OP really want to compare the cryptocurrency and bitcoin to a cellphone, the best analogy would be like this:

Technology and cellphone's market price is getting lower as time passes by. Because if we can see, when there is new technology coming up in the market,  old phone models become cheap. In comparison to bitcoin and cryptocurrency, even if there are new coins in the market, the market price of the Bitcoin becomes higher and higher. Competition between coins become better as well as the competition to investors, as a result, better cryptocurrency is being developed.

[Darooghe]

People have been saying it’s dying or something like that for years, but the whole crypto world is entering a new phase of it's evolution, don’t expect it all to happen in a year. The hurdles will make it better and more practical, and the hypers are dropping off forever, real value will remain. the most important thing to keep in mind during slowdown is that it's normal for the crypto market to have negative month or year it's part of the cycle, By staying calm and not making any sudden moves, you'll save yourself from becoming a bear's lunch. Like do not sell just be patient and wait till it will grow or buy cheap now.

[Lucius]

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.

Unfortunately, your assumptions don't work the way you imagine, because Bitcoin is not even similar to phones. When you say that people will just "produce their own phones", do you know anyone who is instead of buying a smartphone, produces one on its own?

Of course the situation with cryptocurrency completely different, they are made in the thousands, because it is very easy to do that. But Bitcoin's price is not depending on several thousand altcoins, the fact that they exist does not mean that they are accepted by the community, nor will they be in the future.

Do you know that anyone can buy/invest in any amount of Bitcoin, even a few $ worth? Bitcoin is actually very cheap, reliable and fast, but I doubt you will ever change your mind about that.

So I suggest you show us by your own example how you can accomplish something better, make your own phone and your coin, you say anyone can do it, show us how easy is to achieve something like that.

[pundit]

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.

Edit:

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, and not up to the moon.

I am very positive about Bitcoin but your post made me think deeply about it. It is true that Bitcoin payment system is not something which cannot be developed by anyone else and current value of $8000 is more than high for a single coin of a payment system, On the other side I believe value of anything depends upon market sentiments, If demand increases, its value increase and same has happened to Bitcoin as well in late 2017. Let see what has been cooked for us in future.

[noormcs5]

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.

Edit:

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, and not up to the moon.

I am very positive about Bitcoin but your post made me think deeply about it. It is true that Bitcoin payment system is not something which cannot be developed by anyone else and current value of $8000 is more than high for a single coin of a payment system, On the other side I believe value of anything depends upon market sentiments, If demand increases, its value increase and same has happened to Bitcoin as well in late 2017. Let see what has been cooked for us in future.

Bitcoin current price is not 8000$ and in 2017, it was more manipulation than the demand which actually increased the bitcoin price.
But still i am very much confident that bitcoin price will grow steadily and will reach its high again.
I simply do not like the example of the phone comparison with bitcoins and i am very much optimistic about the bitcoin.

[kryper]

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.

Edit:

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, and not up to the moon.

I am very positive about Bitcoin but your post made me think deeply about it. It is true that Bitcoin payment system is not something which cannot be developed by anyone else and current value of $8000 is more than high for a single coin of a payment system, On the other side I believe value of anything depends upon market sentiments, If demand increases, its value increase and same has happened to Bitcoin as well in late 2017. Let see what has been cooked for us in future.

Hmmm, it`s hard to say, let`s see ...

[Xxmodded]

Always have condition where is some thing with higher and lower price like what happen with bitcoin, some time bitcoin can raise to higher price but other time bitcoin have goes down with lower price. Many time we faced moment with bitcoin on the top but just closed our eyes and looking bitcoin have lower price, this moment to give chance to buy and sell bitcoin.

[Wysi]

Always have condition where is some thing with higher and lower price like what happen with bitcoin, some time bitcoin can raise to higher price but other time bitcoin have goes down with lower price. Many time we faced moment with bitcoin on the top but just closed our eyes and looking bitcoin have lower price, this moment to give chance to buy and sell bitcoin.

Yes fluctuations are a part of crypto market and this is a very generic information wherein this OP thread was create to know the reason why the Bitcoin's value was dropped since last 10 days and let's share our thoughts with market affair which will help others. I think this was a planned dump to buyback at lesser price.

[Lauren Smith]

Lol, numbers he says.  

Everything is based on numbers my dear boy. Everything you see is based on numbers on a molecular level. Atoms are made of molecules and each one its own code. Your bank account just numbers too. Your body DNA too. What is your point exactly? If you want to use altcoin because you can send $0.0001 then use altcoin. Most people just so happn yo use bitcoin. Also these altcoins you talking of? Name them please. How secure are they? Are you sure they better then bitcoin? Bitcoin is backed by the most miners and usage and holdings. So eh.... Explain yourself my dear sir.

[coolcoinz]

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).

The price is not only determined by the supply. Where did you come up with this idea?
There's always a peak of interest with these things. Motorola also had its peak. Blackberry had its, Nokia had its own when they were making 3310, Bitcoin is still far from it's own. Peak of interest is when you hear everyone talking about it and when you see people using it every day. When Motorola Razr came out in 2005 you could see one out of 5 phone users with these thing. They were in the movies, everywhere. When you see this happening to Bitcoin come here and bump this thread. We'll have a good laugh.

Just as I'm writing this Bitcoin is going up. What happened to "it can only go down"?

[nreal]

I don't understand why you compare phones, a consumer product (the value will definitely decrease over time and possibly fail) with bitcoin. What is the logic here? On the other hand the argument is that People can create bitcoins other than bitcoin1, bitcoin2, ... but the fact is that the community only accepts bitcoin. Motorola phones can be replaced by other phones but nothing can replace bitcoin and its community.

[arcmetal]

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

Even your P and Q statement would be considered really poor deductive reasoning.

Just because YOU label that something is similar does not make it so. ... For your deductive proof to work, Q would need to be a subset of P.  Here are some examples of useful statements:

Elephants have cells in their bodies and all cells have DNA. Therefore, elephants have DNA.

All noble gases are stable. Helium is a noble gas, so helium is stable.

Here are examples of poor deductive reason (because poor assumptions are made, that is, Q is not necessarily a subset of P, or we have no proof of their properties matching up):

All swans are white. Jane is white. Therefore, Jane is a swan.

All farmers like burgers. Jethro likes chicken wings. Therefore, Jethro is not a farmer.

The above was taken from:
https://examples.yourdictionary.com/deductive-reasoning-examples.html

[Aikidoka]

I don't even know how he's comparing phone's brand with bitcoin, I meant both of those things are completely different. It's really bad to share negativity here in the forums while it's based on wrong explanation. We're talking here about a crypto currency and not a mobile phone, bitcoin is even more valuable that such Motorola phones. Also, we're seeing that bitcoin was dominating the market since 10 years ago, so noting here seems logic of what the OP said.

[darkangel11]

I don't even know how he's comparing phone's brand with bitcoin, I meant both of those things are completely different. It's really bad to share negativity here in the forums while it's based on wrong explanation. We're talking here about a crypto currency and not a mobile phone, bitcoin is even more valuable that such Motorola phones. Also, we're seeing that bitcoin was dominating the market since 10 years ago, so noting here seems logic of what the OP said.

Those who don't understand what's going on with the market will look for ways to compare it with known facts. It's the same logic you use when you see something happen like a big light on the horizon. Maybe it's a plane crash, maybe it's fire, and in reality some guys are testing out their new strobes.
Crypto is unpredictable and saying it can only go down will make you look like a fool. How will you explain that it went up $1000 in 3 days, OP?

[shoreno]

I don't even know how he's comparing phone's brand with bitcoin,

bitcoin is also a brand of crypto  . i guess that is why he compare btc to other brands and he uses phone as an object to compare btc with  .

I meant both of those things are completely different. It's really bad to share negativity here in the forums while it's based on wrong explanation.

its not sharing negativity and its not also bad to share negative talks here because anyone can post here what they want  . that is his own explanation so he think that its true .

We're talking here about a crypto currency and not a mobile phone, bitcoin is even more valuable that such Motorola phones. Also, we're seeing that bitcoin was dominating the market since 10 years ago, so noting here seems logic of what the OP said.

phone's are also valueable because they are useful same as btc , btc is valueable because its also useful  . motorola brands are not that bad but they also upgrade thier phone based on what is the latest trend  .

[kissme09]

I bet you did not really do any investigation about DOTcom bubble, right?
I think bitcoin and the whole market is not far different from. but investors know that, so bubble did now blow (yet)
but I don't think it will, cause even after dotcom, still many companies alive, so do the crypto market

[Slow death]

[...]

I partly agree with what you said, few days ago I read once again an absurd prediction and I thought:

Do people really believe that just because supply is limited and because we will have the next halving price should be $250,000 by 2022 or $500,000 by 2020? Or are trying to convince more people to buy bitcoin?

What if 5 years from now there have a better currency than bitcoin?

What if a few years from now governments create cryptos better than bitcoin?

I like bitcoin and the idea of ​​Hold, but I don't believe in those predictions of $ 250,000 or $ 500,000 or $ 1 million. I believe the price may rise relative to the current price and the number of people entering the crypto world will also increase in the future.

[patroncito]

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.

Edit:

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, and not up to the moon.

This is the most stupid argument ever about Bitcoin. You can produce as many phones as you want.

Bitcoin is unique and it only allows humans to produce only 21 million ever.

This guy is just nonsense

[Hypnosis00]

(...)
That is also the reason why Bitcoin is a mega-bubble and can only go down to the price of an average coin, and not up to the moon.

This is the most stupid argument ever about Bitcoin. You can produce as many phones as you want.

Bitcoin is unique and it only allows humans to produce only 21 million ever.

This guy is just nonsense

He really doesn't know about Bitcoin and how it works. This kind of assumption and speculations don't have any basis which ironically won't make sense anymore. He is one of the fudders around and tried to mislead us, and he thinks that we are stupid enough to think that he was right.
For we know about Bitcoin for many years, and I'd never think that it will get into the point that it will be turning down deeper.

[amishmanish]

Bitcoin is not just numbers and hashes and addresses. Its main strength is adoption, network effect and a time-tested community of developers, users and businesses that trust the fact that it has no centralized authority, That is a lot of stuff that Motorola did not need to consider when it started manufacturing mobiles or when any of the others copied them.

All the other bags you hold have compromised at times or have centralized figureheads. Stop spewing bullshit and go back to whatever BCash or Craig Wright shit hole you are coming from.