How did we let this happen?

[jonald_fyookball]

i laugh at all the posts that have under 100 activity. i skipped a few but those people do not know what bitcoin is about, they have not looked into bitcoin and they are purely in it to make a quick buck and return that profit into a fiat bank account.

noobs that panic and have no clue that bitcoin is a whole new economy and the noobs themselves are the sole cause of the panic drop. they do not understand or care about bitcoins usage or community.

to be honest i am glad they are cashing out. and running away. atleast then the rest of us that understand all of bitcoins potential uses, features and benefits can concentrate on bitcoin. and not the FIAT loving fanboys that cry at every price movement.

i find it laughable that americans and europeans give a crap about china.. they have on majority, never traveled to china, never used their chinese currency, never had a friend that lives in china, or even wrote a single word in chinese. yet these FIAT fanboys panic on the rumour of a chinese action that wont affect their american bank accounts one bit. it wont affect anything.

they simply act like sheep dumping the price. purely because some other sheep does it., being absolutely clueless of the big picture and long term resilience of bitcoin.

they need to learn. when mtgox crashed, the smart people did not follow mtgox prices down to $100. and neither should the rest of us follow china down.

any panicking noob that sells at a loss, has to take responsibility for why they sold at a loss and realize they shot themselves in the foot and no one is to blame but themselves.

the motto "if you sell at a loss, your a loser"
and so i say, to all of you fiat fan boys, go back to your FIAT and take your 1-5% yearly banking interest and leave us bitcoiners to do what we do best, develop the bitcoin ecosystem without you.

You have some good points, however:

1.  Just because you have more time on the forum doesn't make you smarter or better than anyone else.

2.  China is relevant.  It's the largest country, and a huge market.  Who care if I've never been to China.  What the  heck does that have to do with anything.  

[Jeezy911]

Yay gloom and doom, perfect time to buy. Markets go up and down, its not complicate.

[freequant]

At this early stage of the technological revolution, it is easy to miss the forest for trees.
But stepping back a little, it becomes clear that Bitcoin, Ripple, soon Ethereum ... are trees.
The forest is the concept of distributed temper-proof database and the permanent autonomous zone it creates as a layer on top of the existing Internet, let's call that the cryptospace.
Crypto-currencies are only one application of a distributed temper-proof database in the cryptospace, and Bitcoin is only one instance of a crypto-currency. Crypto-exchanges are another application and Ripple just an instance of that class.
If we are going to compare that to the Internet, Bitcoin is like the first dial-in BBS. A huge leap forward that contributed greatly to laying the foundation of the Internet we know today, but not the foundation itself. It may die like BBSs, or survive in a dusty corner of the larger cryptospace like Usenet, but it will be forever remembered as the one application that created the cryptospace.

I think that foundation of the cryptospace is probably the SHA-256 encryption technology on which Bitcoin was build. So I would say that Bitcoin is a considerable part of the forest, if not the whole forest.

Simple question: Is Bitcoin turing complete?
Simple answer: No.
Any questions?

[Joohansson]

People who engage in trolling are characterized by personality traits that fall in the so-called Dark Tetrad: Machiavellianism (willingness to manipulate and deceive others), narcissism (egotism and self-obsession), psychopathy (the lack of remorse and empathy), and sadism (pleasure in the suffering of others).

http://www.slate.com/articles/health_and_science/climate_desk/2014/02/internet_troll_personality_study_machiavellianism_narcissism_psychopathy.html

[serenitys]

People who engage in trolling are characterized by personality traits that fall in the so-called Dark Tetrad: Machiavellianism (willingness to manipulate and deceive others), narcissism (egotism and self-obsession), psychopathy (the lack of remorse and empathy), and sadism (pleasure in the suffering of others).

http://www.slate.com/articles/health_and_science/climate_desk/2014/02/internet_troll_personality_study_machiavellianism_narcissism_psychopathy.html

A little harsh doncha think?

Sometimes they're just assholes with an internet connection and idle hands 

[Joohansson]

People who engage in trolling are characterized by personality traits that fall in the so-called Dark Tetrad: Machiavellianism (willingness to manipulate and deceive others), narcissism (egotism and self-obsession), psychopathy (the lack of remorse and empathy), and sadism (pleasure in the suffering of others).

http://www.slate.com/articles/health_and_science/climate_desk/2014/02/internet_troll_personality_study_machiavellianism_narcissism_psychopathy.html

A little harsh doncha think?

Sometimes they're just assholes with an internet connection and idle hands 

That's how you troll the trolls.

[~Coinseeker~]

 I will never put money back into Bitcoin,

Wanna bet?

I'd love to, but it's open-ended.  Couldn't claim my winnings till death.  

What makes you so certain I would?  You're not going to hit me with some "one-world currency" nonsense, are you?

Nope I am not. But I am suggesting that bitcoin's growth is explosive and pervasive, and ultimately you will be using it because there won't be anything else you can use...it's a platform. As a currency, its adoption mainstream inevitably devalues the state's currency and that currency will fail...and bitcoin or any of its evolutions or iterations will be the last currency standing by choice of the user.

Bitcoin's not going anywhere...not as a platform...and the currency will only evolve and grow. The probability you will be using it again and putting your money into it again is as certain as it is you will use the internet again, whether you put money into it directly or indirectly via other products or services that do.

So, actually you did just hit me with one-world currency nonsense.  "...there won't be anything else you can use..."  Come on man.  I don't see how anyone can look around the crypto-space and actually say that with a straight face.  

Bitcoin is not the internet and doesn't scale well enough to be on such a level of global penetration.  There is and will continue to be, many forms of cryptocurrency.  Not to mention, fiat and an infinite number of things people can deem as valuable.  This of course is why I love Ripple. Many currencies and many things of value, is the present and the future.  Not a one-world currency.  

I repeat, I will never put money back into Bitcoin, on pure principle and I won't miss it for a second.  However, if I break that commitment, I will find this thread and update it.  I'm a man of my word.  

[evoked22]

There is no bubble, just FUD and stupid people.

Please do some research and scan the forums. You will come to see the number of times they have spread rumors and lies to drop the price down. I mean it does make sense, why pay $1400 per btc when you can pay $400. Well i would imagine their mentality to be inline with that thought.

If only we could check the BTC blockchain for the governments ey

[Trillium]

OP is clearly conflicted:

"How did we let this happen?"

We? Don't you mean "How did you let this happen?".

So either:

• You don't know how to form sentences and you actually have some involvement with bitcoin, but fucked up something and lost a lot of money. Now you're bitter and looking for sympathy in the wrong places, or,
• You're here to troll and nothing else. and/or,
• Both.

 

[dadach]

Idiots like OP will get back in later this year when it goes to new all time highs

sadly, you are only basing this on the fact that there is still 9 more months to go in a year, so there is a greater chance of something happening in longer period

[Bored723]

Bitcoin, just like the internet, is useless!!! ... After all, who the hell uses the internet today after that bubble that ripped off poor people!!??

Thanks for your wise words, oh, technology oracle. God bless you.  

I've always found it comical that people try to compare Bitcoin to the internet.  The key difference between the two is, the internet is immensely useful.  Bitcoin, not so much.  Kind of a one trick pony in comparison.  Please stop, you just sound ridiculous. 

Just start using bitcoin instead of just investing in it on top of a bubble, and you will see how incredibly usefull it is.
And once the conversion between fiat <-> btc gets more easy and faster more and more people will start realizing this.

I for example have an account at the same bank as my exchange. Money transfers bank account <-> exchange take between 5 and 60 minutes for me. With this setup i can work inernationally and get payments in no time.
Before btc i was basically limited to work locally (and still had to worry and keep track if the invoices get paid in time). Who wants to work for someone on the other end of the world without knowing if you will receive your payment? With btc it is easy as pie.

- show some work samples
- get a little advance
- start working
- show sample of finished work
- get paid submit your work and have money in your bank account within 1-2 hours

Another example would be any non physical item you purchase on internet like music downloads or whatever:
- send bitcoins  (no need to submit personal information or cc details)
- start downloading
- done

And hell, you ever wanted to grab some food and realized you got no cash at home because you (again ) were to lazy or forgot to stop at the next atm today? With btc i can just top up my mobile wallet from home if it is empty and am ready to fill my stomach.

bitcoin can actually make your life a lot easier, you just have to START USING it 

[btcxyzzz]

first post is EXTREMELY stupid.

[Cryptogirl82]

BTC will be banned in China as of April 15. We will then see BTC price go way below 100$.
So I am consedring getting into Ripple. They are have been opening a lot of gateways in china lately.
Also ripple is backed by google. What do you guys think???

[Sage]

Ah, when I see posts like these it makes me even more confident that it's very near time to be buying like crazy.

John Templeton - Principle of Maxim Pessimism

[Beliathon]

If you prefer to keep all you money in fiat that is being printed to become worthless then go right ahead.  I trust bitcoin more than the EU or United States government

Given the coming financial crises involving both the euro and the dollar, that's a very smart call.

What you should know about the dollar and it's current exchange value (click me).

BTC will be banned in China as of April 15. We will then see BTC price go way below 100$.
What do you guys think?

I think Bitcoin will not dip below $200 again in your lifetime, and you are panicking for no good reason.

[grifferz]

BTC will be banned in China as of April 15. We will then see BTC price go way below 100$.

Would you like to enter into a bet about whether bitcoin price will dip below $100 in April?

[zolace]

Everything in life starts out as a small bubble even myspace and facebook.  Its how the bubble forms it what affects if it pops or just goes down slowly only to blow up bigger and stronger.

[~Coinseeker~]

Bitcoin, just like the internet, is useless!!! ... After all, who the hell uses the internet today after that bubble that ripped off poor people!!??

Thanks for your wise words, oh, technology oracle. God bless you.  

I've always found it comical that people try to compare Bitcoin to the internet.  The key difference between the two is, the internet is immensely useful.  Bitcoin, not so much.  Kind of a one trick pony in comparison.  Please stop, you just sound ridiculous. 

Just start using bitcoin instead of just investing in it on top of a bubble, and you will see how incredibly usefull it is.
And once the conversion between fiat <-> btc gets more easy and faster more and more people will start realizing this.

I for example have an account at the same bank as my exchange. Money transfers bank account <-> exchange take between 5 and 60 minutes for me. With this setup i can work inernationally and get payments in no time.
Before btc i was basically limited to work locally (and still had to worry and keep track if the invoices get paid in time). Who wants to work for someone on the other end of the world without knowing if you will receive your payment? With btc it is easy as pie.

- show some work samples
- get a little advance
- start working
- show sample of finished work
- get paid submit your work and have money in your bank account within 1-2 hours

Another example would be any non physical item you purchase on internet like music downloads or whatever:
- send bitcoins  (no need to submit personal information or cc details)
- start downloading
- done

And hell, you ever wanted to grab some food and realized you got no cash at home because you (again ) were to lazy or forgot to stop at the next atm today? With btc i can just top up my mobile wallet from home if it is empty and am ready to fill my stomach.

bitcoin can actually make your life a lot easier, you just have to START USING it 

Where did this come from?     I have used Bitcoin plenty.  I started with Bitcoin.  That's how I know first hand, there are better, faster and more versatile options for my needs.

[Lordoftherigs]

It is a bit harsh to talk about victimization. There are only victims of greed and irresponsibility.

You're asking how could somebody buy bitcoin for 1200$ ? Obviously the buyer was hoping the price will go up and he/she will  make profit at the expense of the seller.

So In a way if you sell your bitcoins for 1k and they would double in value you can make a same post about how you've been victimized ....

[keelba]

Now that the bubble is finally starting to collapse rapidly, i was pondering how we let this all happen...
What are the results of this 'experiment'/scam?
- A hand full of teens who are now multi millionaires.
- A whole lot of people that lost a whole lot of real money.

Even though we all got warned time and time again, by economists, professors and even a lot of libertarians, not to fall for the bitcoin.
How on earth was it possible that people spend $1200!!!! on literary NOTHING?! Is this pure greed or stupidity? What is going on here?

I feel bad for all the people who got victimized and i think some effort should be made to put the creators of this bubble behind bars, too many have been victimized to let this slide.

How much does one get PAID to write such stuff? Seriously.

Now on to the notion that anyone lost money. It is this kind of thinking that is seriously wrong with people in general these days and the OP is using this same mentality as propaganda. It's like when the housing bubble collapsed and people complained they "lost money". You only lose money when you sell. Otherwise, you need to think of it as, "I bought a house and I own 100% of that house. The value has dropped slightly but I still own 100% of that house." Housing prices are going back up and anyone who stayed in their home is now that much closer to paying off their original mortgage, which should have been the intent of every home buyer. Everyone else who bankrupted or walked away from their mortgages has to deal with the consequences now but they want to blame others for them buying something they could not afford in the first place.

Ahh, but that's it. They bought a home they could not afford but justified it by thinking the price was going to continue going up and they would be handsomely rewarded for their gamble. When it didn't work out that way, and they got to the point where they could no longer afford to make the payments, they blamed everyone else. They did the same thing with Bitcoin. These same types of people spent dollars they could not afford to lose then blamed everyone else when their gamble didn't pay off. If you bought at $1,200 and are still hodling then you likely bought them as an investment and I need to point out to you that at this point you have lost NOTHING. You still own the same number of bitcoins you had when you started. Now if everyone in the world stops using Bitcoin, then I'd say you lost money. Until then, keep calm and hodl on.