Retracted previous statements :)

[iluvpie60]

I retract my previous statements

[1713902276]

1713902276

[1713902276]

1713902276

[Beliathon]

This thread is boring. You're boring.

[BittBurger]

Phew.   So many misunderstandings in your post.

You don't seem to acknowledge the concept of "network effect".   The single most important element in why BTC will succeed.

You don't seem aware of the adoption rates, infrastructure developments, and innovation.   The other relevant factor.
 
You don't seem aware of the "hundreds of millions" being poured into BTC in 2014 via VC firms, and Wall Street.

The official trading platforms, ETF applications, and the fact that IRS rulings are always a little "off" when they first come out, and are modified by the IRS themselves, routinely as time goes on.

Honestly I feel like this is so obvious, im not sure why I'm typing it.

I realize you lost your money, but don't translate that into pooping on the parade.

-B-

[lemfuture]

each individual has its own definition of reality. bitcoin for you has no future and fiat does? bankers would be proud

[iluvpie60]

Phew.   So many misunderstandings in your post.

You don't seem to acknowledge the concept of "network effect".   The single most important element in why BTC will succeed.

You don't seem aware of the adoption rates, infrastructure developments, and innovation.   The other relevant factor.
 
You don't seem aware of the "hundreds of millions" being poured into BTC in 2014 via VC firms, and Wall Street.

The official trading platforms, ETF applications, and the fact that IRS rulings are always a little "off" when they first come out, and are modified by the IRS themselves, routinely as time goes on.

Honestly I feel like this is so obvious, im not sure why I'm typing it.

I realize you lost your money, but don't translate that into pooping on the parade.

-B-

Aware of all of it. Don't tell me what I am aware of.

kthx

[blatchcorn]

Not sure if bearish or bullish

[atp1916]

Troll / tool detected.

[bitcoinforhelp]

threads like this means that bottom is already reached  
embrace yourself, gains are coming

[iluvpie60]

Phew.   So many misunderstandings in your post.

You don't seem to acknowledge the concept of "network effect".   The single most important element in why BTC will succeed.

You don't seem aware of the adoption rates, infrastructure developments, and innovation.   The other relevant factor.
 
You don't seem aware of the "hundreds of millions" being poured into BTC in 2014 via VC firms, and Wall Street.

The official trading platforms, ETF applications, and the fact that IRS rulings are always a little "off" when they first come out, and are modified by the IRS themselves, routinely as time goes on.

Honestly I feel like this is so obvious, im not sure why I'm typing it.

I realize you lost your money, but don't translate that into pooping on the parade.

-B-

And why is it that when someone tells facts, they are considered in your words "pooping on the parade" People never want to hear "it" from other people.

sad.

[Meuh6879]

Face reality.

OK, so :

1) https://blockchain.info/fr/charts/difficulty?timespan=180days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

2) https://blockchain.info/fr/pools?timespan=4days


And then, you ... you think that it's game over ?
The problem is THE BANKS, THEY CRASH ... in summer !

[bitcasino]

You can buy almost anything you want with BTC now(might have to convert to Gyft for some things).

You can't use bitcoin on Amazon or Ebay.  

[gentlemand]

If this is the way you feel then you're free to live your life and explore the wonderful world beyond this forum. Don't squander any more time.

[Beliathon]

I can't argue against this, rape away sir!

*initiating ferocious raping procedure*

please stand by...

[bitcasino]

Face reality.

The problem is THE BANKS, THEY CRASH ... in summer !

I like your picture 
My question: Why in summer?

[iluvpie60]

Face reality.

OK, so :

1) https://blockchain.info/fr/charts/difficulty?timespan=180days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

2) https://blockchain.info/fr/pools?timespan=4days


And then, you ... you think that it's game over ?
The problem is THE BANKS, THEY CRASH ... in summer !

I am not really interested in banks either. I never go to an ATM(shredded my ATM card actually). I acknowledge there is no point to having cash on hand basically ever unless you're at a flea market or something where a bunch of people get together and sell stuff or yard sales. But I kinda like getting 5% cash back on every purchase, with no annual fees and no late payment fees, and guess what, no fees for having my bank account. I incur 0% fees already, and so do most other people. Only the poor people really benefit from Bitcoin, and there aren't many poor people on these forums I can guarantee that.

[Taras]

Wait, isn't this what we were saying after the april bubble?

[iluvpie60]

Wait, isn't this what we were saying after the april bubble?

"Who" was saying "What"....

[the_sunship]

i'd rather see a gradual rise with some dips to shake out weak hands. much better for the patient ones....

[Equate]

Another boring post

[byronbb]

I confess to have failed to read beyond a few sentences but I think the premise may be correct. The price is so relatively high that to move the market a lot someone needs to be able to deposit very large sums into bitstamp. This comes with logistical and counterparty risks and someone with that much money probably would avoid that avenue all together. This is why the big money has gone elsewhere into startups and venture funds and not into the exchanges which have proven time and time again to be untrustworthy. In other words: HODL.

[fonzie]

Outstanding post OP.
I agree with you 100%

[iluvpie60]

Another boring post

Just like almost all of yours. Can't even start reading any of yours. Sad.

[iluvpie60]

I confess to have failed to read beyond a few sentences but I think the premise may be correct. The price is so relatively high that to move the market a lot someone needs to be able to deposit very large sums into bitstamp. This comes with logistical and counterparty risks and someone with that much money probably would avoid that avenue all together. This is why the big money has gone elsewhere into startups and venture funds and not into the exchanges which have proven time and time again to be untrustworthy. In other words: HODL.

Agreed.

[greenlion]

This was actually kind of beautiful, it was a vaguely coherent verbal vomit tour de force of practically all the FUD and myths out there, with a serving of anecdotes about a personal lack of judgement applied as though they were universal law.

[iluvpie60]

This was actually kind of beautiful, it was a vaguely coherent verbal vomit tour de force of practically all the FUD and myths out there.

I am not spreading any FUD, some things I say in here are facts, and some things I say in here are a logical conclusion of what is going to happen based on events. Now since you classified what I am saying as "FUD" I can equally state people are spreading "FUD" by saying BTC will go up and everythings just gonna be alright, because Satoshi is the "best game ever"(joke). Yada Yada.  Hypocrite.

[iluvpie60]

This was actually kind of beautiful, it was a vaguely coherent verbal vomit tour de force of practically all the FUD and myths out there, with a serving of anecdotes about a personal lack of judgement applied as though they were universal law.

Good thing I never claimed it was universal, see how I said personally in there? #ReadMuch?

[UnDerDoG81]

So you say we should sell now? Looks like you have a good heart and you want to help us! Thank you! I panic sell now.

[Miz4r]

It's threads like these that make me confident that the bottom is in or will be in very soon and it's time to start looking up again. After the 2011 top it took 4.5 months to reach the bottom, and after April 2013 it took only 3 months. So it seems likely we're very close now 4 months after the December top.

[iluvpie60]

So you say we should sell now? Looks like you have a good heart and you want to help us! Thank you! I panic sell now.

Actually I did say that if you read what I typed (Short term). Reading and remembering what you read goes a long way my friend.

[iluvpie60]

It's threads like these that make me confident that the bottom is in or will be in very soon and it's time to start looking up again. After the 2011 top it took 4.5 months to reach the bottom, and after April 2013 it took only 3 months. So it seems likely we're very close now 4 months after the December top.

How are you any different from scum stock traders? Hint: you aren't. We don't need people like you involved in this. Sell all you have and go if you are looking to just make profit. People like you hurt BTC.

[iluvpie60]

This thread is boring. You're boring.

I like the signature you have, unfortunately its extremely ironic that you are on the other side of that quote(you are not well established though, just a moron who is incapable of a thoughtful response).

[CoinThinker]

Just explained on another thread: bitcoin is finite. If some bitcoins will disappear from the market (like China will ban it, and the "chinese" bitcoins will "disappear" from the market), then bitcoin is going to get even more rare. The maximum total of 21.000.000 is already unrealistic anyway, because probably hundreds of thousands of bitcoins are lost already in wallets which can never be recovered... so if more bitcoins disappear, it will become even more rare.

And the rarest something is, the more valuable it gets. So don't worry guys, and don't fall for all the FUD: bitcoin will rise to a lot more than it ever was.

[steeev]

not sure why you're posting this - upset, or troll, or whatever...you're not going to make up my mind for me, and i don't care to change yours - it's a choice, not an obligation, to be involved, and on what terms - you make your choice, i'll make mine...

whatever happens... as jeff garzik says, it's an experiment... and that's part of the fun for me, seeing where it goes.

[challen]

Perma-bulls can be annoying creatures. They belittle and slander anyone who forms an opinion different from their own whilst they hope somebody else props up the price so they can cash out later. I've seen many a posts these people will be buying if btc ever reaches xyz dollars, well here it is on clearance with a 60% discount and its crickets.

Don't get me wrong, it was a great social experiment when mining was decentralized, but now that ASIC's control the market, the price and difficulty are turn-offs to newcomers. Greed drove the market up. Now greed is driving it back down, but this time I expect a longer capitulation cycle before next ATH, if ever.

[bitdragon]

Face reality.
At this point, can anyone really say there is something that will catapult Bitcoin straight up like happened months ago?

Bank runs in China, Europe and the US ?
It has already started.

If you use the US dollar as reference for the value of Bitcoin and then claim it has peaked ! The burden is on you to prove it as all odds are against you. And this includes adressing more aspects than who voted for whom in some theater. Money as debt being one of them and how this will continue for ever long ! The trend in Europe of seizing money in peoples account for example. The dwindling value of the US dollar for the past 80 years versus all kinds of benchmarks.

That you mention stock trading as some kind of an alternative and put forth your low % fee with credit cards is ridiculous.
Bitcoin will stay with or without you, so don't worry too much.

From a larger perspective, your reaction has been around for years in bitcoin world, "it has peaked !!!"
It peaked at 1$, definetly peaked at 32$ for a while.. peaked at 100 and then the almighty 1'200, that has to be the peak.

Good luck in your 'first' job !

[iluvpie60]

Just explained on another thread: bitcoin is finite. If some bitcoins will disappear from the market (like China will ban it, and the "chinese" bitcoins will "disappear" from the market), then bitcoin is going to get even more rare. The maximum total of 21.000.000 is already unrealistic anyway, because probably hundreds of thousands of bitcoins are lost already in wallets which can never be recovered... so if more bitcoins disappear, it will become even more rare.

And the rarest something is, the more valuable it gets. So don't worry guys, and don't fall for all the FUD: bitcoin will rise to a lot more than it ever was.

Nice vague broad and general sweeping statement. But the definition of rare also has included in it a definition of "rarity is in the eye of the beholder". So just because something is rare, doesn't mean there is demand for it.

#fallacy

[iluvpie60]

not sure why you're posting this - upset, or troll, or whatever...you're not going to make up my mind for me, and i don't care to change yours - it's a choice, not an obligation, to be involved, and on what terms - you make your choice, i'll make mine...

whatever happens... as jeff garzik says, it's an experiment... and that's part of the fun for me, seeing where it goes.

Isn't it great that I can quote myself?

Face reality. Or don't, idk your choice. This is kinda long. Why not. Fun is spelled F U N.

[philipk999]

America is not the world - take a wider look

[iluvpie60]

Perma-bulls can be annoying creatures. They belittle and slander anyone who forms an opinion different from their own whilst they hope somebody else props up the price so they can cash out later. I've seen many a posts these people will be buying if btc ever reaches xyz dollars, well here it is on clearance with a 60% discount and its crickets.

Don't get me wrong, it was a great social experiment when mining was decentralized, but now that ASIC's control the market, the price and difficulty are turn-offs to newcomers. Greed drove the market up. Now greed is driving it back down, but this time I expect a longer capitulation cycle before next ATH, if ever.

That is something I rather noticed that is frequently expressed on here. Perma-bulls in any capacity end up being wrong eventually. Things like Stock Market crashing and other things crashing then taking years and decades to get back to where it was. Those types of things confuse people who are always positive.

Thank you for your post, I appreciate that at least 2 people on this whole forum understand you can't always look at the glass as "Half full".

[iluvpie60]

America is not the world - take a wider look

Quote where I said "America".

And isn't it great I can quote myself?

If poor people only use BTC back and forth between each other it would be wonderful, but that isn't going to happen for a long long long time, 10s of years later maybe, MAYBE people will all be tech savvy. MAYBE. But BTC doesn't solve any problems for the majority of people and you know it.

[bitdragon]

America is not the world - take a wider look

Quote where I said "America".

And isn't it great I can quote myself?

If poor people only use BTC back and forth between each other it would be wonderful, but that isn't going to happen for a long long long time, 10s of years later maybe, MAYBE people will all be tech savvy. MAYBE. But BTC doesn't solve any problems for the majority of people and you know it.

Your whole damn post smells of an American point of view.
Some first job, talking about the merits of a credit card and the wonders of Obama being elected and how it means a whole lot.

[iluvpie60]

Face reality.
At this point, can anyone really say there is something that will catapult Bitcoin straight up like happened months ago?

Bank runs in China, Europe and the US ?
It has already started.

If you use the US dollar as reference for the value of Bitcoin and then claim it has peaked ! The burden is on you to prove it as all odds are against you. And this includes adressing more aspects than who voted for whom in some theater. Money as debt being one of them and how this will continue for ever long ! The trend in Europe of seizing money in peoples account for example. The dwindling value of the US dollar for the past 80 years versus all kinds of benchmarks.

That you mention stock trading as some kind of an alternative and put forth your low % fee with credit cards is ridiculous.
Bitcoin will stay with or without you, so don't worry too much.

From a larger perspective, your reaction has been around for years in bitcoin world, "it has peaked !!!"
It peaked at 1$, definetly peaked at 32$ for a while.. peaked at 100 and then the almighty 1'200, that has to be the peak.

Good luck in your 'first' job !

Thanks. "First Real" job, I am 24 and have worked since I was 14(you get the city to sign a waiver). I worked at amusement parks and ran the games n stuffzzzz(free food is yums).


I didn't say it peaked, you said that I said that. I said it won't have a "to the moon" sharp rise anymore. It might would go up over time assuming demand will continue to grow.

[atp1916]

Once the larger US retail market players get in the game, you could very well see large 'to the moon' spikes.

For example: Let's just say Walmart in a year or 2 from now elects to accept bitcoins because it has integrated the protocol into their POS systems, fixed all tax compliance issues.  Let's also suppose that the core Bitcoin devs have implemented a clever way to increase transaction thoroughput capabilities of the network.


Do you think that the price won't rise even a little?

[iluvpie60]

America is not the world - take a wider look

Quote where I said "America".

And isn't it great I can quote myself?

If poor people only use BTC back and forth between each other it would be wonderful, but that isn't going to happen for a long long long time, 10s of years later maybe, MAYBE people will all be tech savvy. MAYBE. But BTC doesn't solve any problems for the majority of people and you know it.

Your whole damn post smells of an American point of view.
Some first job, talking about the merits of a credit card and the wonders of Obama being elected and how it means a whole lot.

Poor people can be from anywhere.

Sorry America continually donates the most to the poor people in the world. Sorry we continually have to bail out the world when it comes to wars. Sorry we spend the most on our military and you all have to ally with us because if you were our enemy and at war with us your country would be turned into a giant desert after the nukes go off. Sorry we have to continually protect the world from itself. Sorry we broke off from Britain and made the wealthiest country in the world.

It's my first job using my degree, hence the "Real". A colloquial term nonetheless I suppose.

I don't have any fees on anything ever, banks lose money on me and your saying that's a bad thing that I am making banks lose money? Now I have heard of dumb before, but....

[bitdragon]

The poor are already leaving the banks
http://www.theatlanticcities.com/jobs-and-economy/2013/09/why-poor-choose-go-without-bank-accounts/6783/

That they will use Bitcoin is open to debate but the traditional banks are not serving their interests sufficiently.

In the end no one really knows whats going on, but betting on some kind of continuation of the current fiat model seems risky.

[iluvpie60]

Once the larger US retail market players get in the game, you could very well see large 'to the moon' spikes.

For example: Let's just say Walmart in a year or 2 from now elects to accept bitcoins because it has integrated the protocol into their POS systems, fixed all tax compliance issues.  Let's also suppose that the core Bitcoin devs have implemented a clever way to increase transaction thoroughput capabilities of the network.

Do you think that the price won't spike even a little?

Short term I don't really see it happening. By now you can already buy everything you ever wanted using the Gyft system, so I am not really bullish on something increasing sharply when you can already get almost anything at this point. I suppose Walmart would make it easier by not going through Gyft, but I believe Gyft gives you a 3% bonus, so then Gyft would be more beneficial than Walmart accepting it no?

[iluvpie60]

The poor are already leaving the banks
http://www.theatlanticcities.com/jobs-and-economy/2013/09/why-poor-choose-go-without-bank-accounts/6783/

That they will use Bitcoin is open to debate but the traditional banks are not serving their interests sufficiently.

In the end on one really knows whats going on, but betting on some kind of continuation of the current fiat model seems risky.

I don't doubt poor are leaving banks. But a lot of what is going on these days is that there is no interest financing 24/7 on everything it seems with no payments for years. I know so many people who do this, and pay it off before they owe interest.

[atp1916]

Once the larger US retail market players get in the game, you could very well see large 'to the moon' spikes.

For example: Let's just say Walmart in a year or 2 from now elects to accept bitcoins because it has integrated the protocol into their POS systems, fixed all tax compliance issues.  Let's also suppose that the core Bitcoin devs have implemented a clever way to increase transaction thoroughput capabilities of the network.

Do you think that the price won't spike even a little?

Short term I don't really see it happening. By now you can already buy everything you ever wanted using the Gyft system, so I am not really bullish on something increasing sharply when you can already get almost anything at this point. I suppose Walmart would make it easier by not going through Gyft, but I believe Gyft gives you a 3% bonus, so then Gyft would be more beneficial than Walmart accepting it no?

There are too many obscure entities and annoying steps your average consumer has to take in order to go that route.  Your typical US citizen will not go to all of that pain when they can simply use a CC/debit card issued by their bank to pay.

People have been institutionally ingrained toward the whole idea of painless purchasing through POS (real world or virtual) using a debit / credit card that is directly linked to their money supply.  

If someone can use a (for example: Coinbase issued) bitcoin debit card (linked to their bitcoin account) then you will have that starting point of mass adoption.

[glen hodl]

Face reality. Or don't, idk your choice. This is kinda long. Why not. Fun is spelled F U N.

Look at all of the news in the past few months. The IRS classified Bitcoin as property(the judgement everyone was waiting for to see if it was legal or not officially) Check, its there now.

You can buy almost anything you want with BTC now(might have to convert to Gyft for some things).

Some countries have banned it some haven't.

China is basically going to ban it and cause a new price crash on April 15th(Or so I have heard and it really looks to be the case from my own research).

At this point, can anyone really say there is something that will catapult Bitcoin straight up like happened months ago?(no you can't and the comments below prove you can't even form sentences to this question). I will change my mind if someone really gives a good argument for a huge sharp rise in a short period. But I don't see one(comments below show no arguments yet).

Long term, another coin will beat it out, or something better will be invented. It's no secret mining is a completely stupid way of verifying a transaction because all that happens is that tons of computers/gpus/servers/rigs are guessing random numbers until they line up with what is needed. This eventually will cause a tremendous amount of energy waste(right now I am pretty sure all miners are losing money if they are converting into USD right away).

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX  inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

That being said, if you are one of these people who "put all of their life savings in BTC/Alt coins" I think it is time for a reality check(at least in the short term).

Oh but the Network effect you all scream like babies, tell that to MySpace rofl. Or AIM, or Yahoo, or any other person who held the network majority, its called competition(google it).

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

For reference, my friend put 3,000 bucks into stock at his company and bought in at 43 bucks per, had to hold for a lil while, then sold it at 60 bucks. Kinda wishing I never did this whole BTC thing, it helps people, but it's definitely a super minority of people this helps(for now). I agree it might help poorer countries, but "Ain't nobody got time for that" over there, they are like you know, farming and stealing to eat and survive. So #ya.


Edit 1: Let me also add, BTC it is not very user friendly for the majority of any population. You have to verify a bank account where your Fiat comes from and get a fee charged on you (but Bitcoin itself can have no fees I understand that) So you still have fees for now, so that doesn't exactly help. Fees need to be eliminated or driven down really really low, then you got a fee to withdraw into Fiat also. I understand you can just keep it in BTC, but heres the problem you run into. Say you have 1 BTC, you spend all of it, guess what? Time to pony up and pay more fees to get BTC, now you have to keep track of the flucuations of BTC according to the IRS ruling. Every time you buy or sell any coins for any reason ever, you have to keep track of it, no thanks rofl.

 If Obama can win a majority of a country of 300 million +  and get a second term based on ideas and no substance, how do you expect Bitcoin which is based on substance and some Ideology to win over morons? It won't. Also, the repubbies'cans say the same thing for the past 8 years, they presented their ideas and didn't win anything but the House. Might get Senate this time because Obama lies a lot and ppl get madzzz.


Edit 2: Personally, I incur 0% fees per year on my credit cards. All of them have no annual fee, no fees for bank transfers ever on my cards, no late payment fees ever for an unlimited amount of times, 1 and 2% cash back on everything(one of my cards is 1% but it is MasterCard I have to sometimes use), I get 5% cash back on purchases in the rotating 3 month categories(I  have 4 credit cards all linked to one b ank account, and whichever card has the 5% off of whatever I am buying I use that). So it becomes extremely wrong to advocate Bitcoin be used for rich/middle/lower middle class people. I only make 47,000 a year Salary, I am 24 years old, 2 years out of college and I am at my first "REAL" job, to tell me to use Bitcoin and get some fees converting from Fiat to BTC, then I spend the BTC, then guess what??? I need more BTC, lets incur more fees converting from Fiat to BTC. Don't you see BTC is really for poor people? If poor people only use BTC back and forth between each other it would be wonderful, but that isn't going to happen for a long long long time, 10s of years later maybe, MAYBE people will all be tech savvy. MAYBE. But BTC doesn't solve any problems for the majority of people and you know it.

You would have been better off putting your 7 btc into cold wallet and the HODL  m8

[aminorex]

Once the larger US retail market players get in the game, you could very well see large 'to the moon' spikes.

For example: Let's just say Walmart in a year or 2 from now elects to accept bitcoins because it has integrated the protocol into their POS systems, fixed all tax compliance issues.  Let's also suppose that the core Bitcoin devs have implemented a clever way to increase transaction thoroughput capabilities of the network.

Do you think that the price won't spike even a little?

Short term I don't really see it happening. By now you can already buy everything you ever wanted using the Gyft system, so I am not really bullish on something increasing sharply when you can already get almost anything at this point. I suppose Walmart would make it easier by not going through Gyft, but I believe Gyft gives you a 3% bonus, so then Gyft would be more beneficial than Walmart accepting it no?

The transactional economy will be dominated by boutique high value applications until software improves dramatically.  The next moonshot I foresee will be driven by opening new channels for fiat inflows driven by speculation and reserve applications.

[2017orso]

Wal-Mart has discussed bitcoin internally (friend), and the view was positive albeit patient, awaiting maturity of the obvious obstacles creating concerns for entities of its size.  Give it a couple years.

[serenitys]

Bitcoin cards are being developed, that was already a given...just when they'd start on it. Now that places like overstock, starbucks, and other retail outlets are accepting it, and the IRS classified it, and more people are looking into it, move investment is coming.

I posted elsewhere a few times about Google Glass being bundled with an app called EAZE payment processor (for the double nod transaction) in bitcoin. That millions will be buying Glass, millions are about to be introduced and reintroduced to bitcoin and will make consumer (as opposed to investor/trader) purchases of btc. Not once but increasingly as EAZE makes it convenient at POS - nod twice, it don't get much easier...if ya can't do that, you got bigger problems). EAZE is a bitcoin utility. And it's set up to work ONLY with bitcoin...so out of all the people who buy Glass, a hell of a chunk of them will be pushed to bitcoin. That's millions of initial purchases on to repeated purchases. Google appears to be a mega believer in cryptocurrency and bitcoin as the founding coin of this new market...and if Google's own products can support it, others will follow.

Look at the strategy behind it - Google agreed on this particular app for Glass that ONLY works with bitcoin - and not all the other options. Why JUST bitcoin? It's helping channel consumers one direction - away from fiat transactions and TO cryptocurrency. Sure, a lot of people will bitch because it's alien and novel, and complain they can't use real money or whatever...but eventually they will look into it (a delayed wave of new money, basically) when everyone else they know is talking about or using bitcoin. That's a huge push for btc. THIS year.

Since they're releasing the consumer version later this year, the value of bitcoin is set to rocket up. It looks like this china thing is keeping things on hold til the 15th or whenever, then it'll move down temporarily and right back up.

And again, a lot of the games being developed for Oculus Rift are tying in bitcoin...and since facebook acquired it, after the backlash settles down, even facebook will inevitably find a way to make bitcoin "social media friendly" and when that happens...well, you know... 

[kneedrag]

I happen to agree with most, if not all of your opinions.  

I would ask one simple question to all of the bulls:

Why would a consumer choose to acquire BTC for the purpose of using it as a payment mechanism / currency, when there are so many other viable options that already exist today with no cost to the consumer, and without the tax burden in the USA?    Yes, it is clear that Bitcoin has the potential to lower transaction costs -- FOR MERCHANTS.   But for consumers, there is no additional cost at most places to pay with a credit card, debit card, Paypal, etc.   Businesses are in business to profit, and will keep those profits for themselves and/or their shareholders.   Do TigerDirect or Overstock offer a discount for using BTC?  (I sincerely do not know the answer).

In addition, as the original poster mentioned, many credits cards already offer rewards in the form of cash  back so paying with BTC does not offer any value or convenience to a consumer who does not already have BTC and has to acquire it.  Therefore, in my opinion, this means weak consumer adoption for the foreseeable future.   Sure, businesses will want to accept it to reduce costs, but consumers will not embrace it.  Lastly, things like Google Wallet and Apple Passbook already offer the convenience of instant electronic payments as well.

Then there is the issue of price volatility that makes purchasing BTC for use as a currency riskier to the average person than current payment systems and currencies.

So again I ask, why would mainstream Joe Public consumers choose to acquire BTC for purposes of spending, or what will drive consumer adoption?  

[cosmofly]

Iluvpie is onto something listen to him

[Alley]

What drives me to buy btc and then spend it is the hopes of a steadily increasing market value.  I buy 1 btc today at $450 then hypothetically next month its worth $475 and I spend it essentially getting 25 bucks off my purchase.  Minus the 1% coinbase fee of course when I buy my coins.

[steeev]

not sure why you're posting this - upset, or troll, or whatever...you're not going to make up my mind for me, and i don't care to change yours - it's a choice, not an obligation, to be involved, and on what terms - you make your choice, i'll make mine...

whatever happens... as jeff garzik says, it's an experiment... and that's part of the fun for me, seeing where it goes.

Isn't it great that I can quote myself?

Face reality. Or don't, idk your choice. This is kinda long. Why not. Fun is spelled F U N.

uh, i meant that my view is kind of inverse, or opposite to yours... i have no losses to report, so maybe that's why i'm more optimistic about the experiment generally...

[iluvpie60]

Face reality. Or don't, idk your choice. This is kinda long. Why not. Fun is spelled F U N.

Look at all of the news in the past few months. The IRS classified Bitcoin as property(the judgement everyone was waiting for to see if it was legal or not officially) Check, its there now.

You can buy almost anything you want with BTC now(might have to convert to Gyft for some things).

Some countries have banned it some haven't.

China is basically going to ban it and cause a new price crash on April 15th(Or so I have heard and it really looks to be the case from my own research).

At this point, can anyone really say there is something that will catapult Bitcoin straight up like happened months ago?(no you can't and the comments below prove you can't even form sentences to this question). I will change my mind if someone really gives a good argument for a huge sharp rise in a short period. But I don't see one(comments below show no arguments yet).

Long term, another coin will beat it out, or something better will be invented. It's no secret mining is a completely stupid way of verifying a transaction because all that happens is that tons of computers/gpus/servers/rigs are guessing random numbers until they line up with what is needed. This eventually will cause a tremendous amount of energy waste(right now I am pretty sure all miners are losing money if they are converting into USD right away).

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX  inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

That being said, if you are one of these people who "put all of their life savings in BTC/Alt coins" I think it is time for a reality check(at least in the short term).

Oh but the Network effect you all scream like babies, tell that to MySpace rofl. Or AIM, or Yahoo, or any other person who held the network majority, its called competition(google it).

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

For reference, my friend put 3,000 bucks into stock at his company and bought in at 43 bucks per, had to hold for a lil while, then sold it at 60 bucks. Kinda wishing I never did this whole BTC thing, it helps people, but it's definitely a super minority of people this helps(for now). I agree it might help poorer countries, but "Ain't nobody got time for that" over there, they are like you know, farming and stealing to eat and survive. So #ya.


Edit 1: Let me also add, BTC it is not very user friendly for the majority of any population. You have to verify a bank account where your Fiat comes from and get a fee charged on you (but Bitcoin itself can have no fees I understand that) So you still have fees for now, so that doesn't exactly help. Fees need to be eliminated or driven down really really low, then you got a fee to withdraw into Fiat also. I understand you can just keep it in BTC, but heres the problem you run into. Say you have 1 BTC, you spend all of it, guess what? Time to pony up and pay more fees to get BTC, now you have to keep track of the flucuations of BTC according to the IRS ruling. Every time you buy or sell any coins for any reason ever, you have to keep track of it, no thanks rofl.

 If Obama can win a majority of a country of 300 million +  and get a second term based on ideas and no substance, how do you expect Bitcoin which is based on substance and some Ideology to win over morons? It won't. Also, the repubbies'cans say the same thing for the past 8 years, they presented their ideas and didn't win anything but the House. Might get Senate this time because Obama lies a lot and ppl get madzzz.


Edit 2: Personally, I incur 0% fees per year on my credit cards. All of them have no annual fee, no fees for bank transfers ever on my cards, no late payment fees ever for an unlimited amount of times, 1 and 2% cash back on everything(one of my cards is 1% but it is MasterCard I have to sometimes use), I get 5% cash back on purchases in the rotating 3 month categories(I  have 4 credit cards all linked to one b ank account, and whichever card has the 5% off of whatever I am buying I use that). So it becomes extremely wrong to advocate Bitcoin be used for rich/middle/lower middle class people. I only make 47,000 a year Salary, I am 24 years old, 2 years out of college and I am at my first "REAL" job, to tell me to use Bitcoin and get some fees converting from Fiat to BTC, then I spend the BTC, then guess what??? I need more BTC, lets incur more fees converting from Fiat to BTC. Don't you see BTC is really for poor people? If poor people only use BTC back and forth between each other it would be wonderful, but that isn't going to happen for a long long long time, 10s of years later maybe, MAYBE people will all be tech savvy. MAYBE. But BTC doesn't solve any problems for the majority of people and you know it.

You would have been better off putting your 7 btc into cold wallet and the HODL  m8

Gee really?

[iluvpie60]

Once the larger US retail market players get in the game, you could very well see large 'to the moon' spikes.

For example: Let's just say Walmart in a year or 2 from now elects to accept bitcoins because it has integrated the protocol into their POS systems, fixed all tax compliance issues.  Let's also suppose that the core Bitcoin devs have implemented a clever way to increase transaction thoroughput capabilities of the network.

Do you think that the price won't spike even a little?

Short term I don't really see it happening. By now you can already buy everything you ever wanted using the Gyft system, so I am not really bullish on something increasing sharply when you can already get almost anything at this point. I suppose Walmart would make it easier by not going through Gyft, but I believe Gyft gives you a 3% bonus, so then Gyft would be more beneficial than Walmart accepting it no?

The transactional economy will be dominated by boutique high value applications until software improves dramatically.  The next moonshot I foresee will be driven by opening new channels for fiat inflows driven by speculation and reserve applications.

It would be possible for banks to directly work to convert BTC or something like that with a much lower fee or no fee. I say this because of the IRS ruling, so maybe more banks and creditors will look at that. If that happens I still don't see a reason for it to have a moonshot though, because at this point why would you convert to buy something in BTC when you can get 5% off by buying it with a credit card that has no annual fee, no late payments. Credit cards also allow someone to take on more debt than they currently have, a model not support by BTC.

[iluvpie60]

Bitcoin cards are being developed, that was already a given...just when they'd start on it. Now that places like overstock, starbucks, and other retail outlets are accepting it, and the IRS classified it, and more people are looking into it, move investment is coming.

I posted elsewhere a few times about Google Glass being bundled with an app called EAZE payment processor (for the double nod transaction) in bitcoin. That millions will be buying Glass, millions are about to be introduced and reintroduced to bitcoin and will make consumer (as opposed to investor/trader) purchases of btc. Not once but increasingly as EAZE makes it convenient at POS - nod twice, it don't get much easier...if ya can't do that, you got bigger problems). EAZE is a bitcoin utility. And it's set up to work ONLY with bitcoin...so out of all the people who buy Glass, a hell of a chunk of them will be pushed to bitcoin. That's millions of initial purchases on to repeated purchases. Google appears to be a mega believer in cryptocurrency and bitcoin as the founding coin of this new market...and if Google's own products can support it, others will follow.

Look at the strategy behind it - Google agreed on this particular app for Glass that ONLY works with bitcoin - and not all the other options. Why JUST bitcoin? It's helping channel consumers one direction - away from fiat transactions and TO cryptocurrency. Sure, a lot of people will bitch because it's alien and novel, and complain they can't use real money or whatever...but eventually they will look into it (a delayed wave of new money, basically) when everyone else they know is talking about or using bitcoin. That's a huge push for btc. THIS year.

Since they're releasing the consumer version later this year, the value of bitcoin is set to rocket up. It looks like this china thing is keeping things on hold til the 15th or whenever, then it'll move down temporarily and right back up.

And again, a lot of the games being developed for Oculus Rift are tying in bitcoin...and since facebook acquired it, after the backlash settles down, even facebook will inevitably find a way to make bitcoin "social media friendly" and when that happens...well, you know... 

While I agree certainly more people will be using it, a lot of people have stopped using it when the price goes down. That is something the average person DOES NOT want to ever worry about. According to the normal avg joe, they want their money to be worth the same it was yesterday. And for the most part currencies operate like that and occasionally have drastic ups and downs, but level off after corrective action is taken. No one really is reimbursing your stolen BTC, some companies do insurance on BTC, but if they ever get hit with an MTGOX hacking, they aren't reimbursing anything because they don't have that much money. So on a small scale hacking case, you can get reimbursed I suppose, but being reimbursed by the US GOVT up to 100,000 bucks in a regular bank account is a really big deal. If BTC develops a way to do that it would certainly give it more credibility.

[iluvpie60]

Iluvpie is onto something listen to him

If you are actually promoting someone, than that's a big red flag for a lot of people here. It means that it's either 1) bullshit or 2) an alternative account of yours.

Go back and look at how they talk and how I talk. It is not an alternative account of mine. I don't need an alt account to give myself a random prop lol...

I like how you only give two choices like those are the only choices, 3) Someone agrees with what I am saying and is giving me props.

[Beliathon]

This was actually kind of beautiful, it was a vaguely coherent verbal vomit tour de force of practically all the FUD and myths out there, with a serving of anecdotes about a personal lack of judgement...

[iluvpie60]

not sure why you're posting this - upset, or troll, or whatever...you're not going to make up my mind for me, and i don't care to change yours - it's a choice, not an obligation, to be involved, and on what terms - you make your choice, i'll make mine...

whatever happens... as jeff garzik says, it's an experiment... and that's part of the fun for me, seeing where it goes.

Isn't it great that I can quote myself?

Face reality. Or don't, idk your choice. This is kinda long. Why not. Fun is spelled F U N.

uh, i meant that my view is kind of inverse, or opposite to yours... i have no losses to report, so maybe that's why i'm more optimistic about the experiment generally...

I still believe in this kind of thing, I strongly believe there will be a kind of tech revolution coming again. We had the internet and email and all these other things. We would have a currency that is all virtual and we probably should.

I really feel like that mining is a huge waste of electricity, think of if we didn't have to mine and have hardware that generated random numbers to complete a hash. What then? Do we really need something to continually guess at solving a hash and it takes time and massive amounts of equipment? I don't think we do. I just think we need enough connected computers to agree what something is, I feel it is very unnecessary to have servers/mining rigs chug out random guesses at solving a hash 24/7 for Bitcoin to work. That isn't efficient, and eventually it will all be controlled by someone with the highest bankroll who can keep buying new servers/quantum computing. The fact that organizations like Cex.io exist should really make anyone question what this is all about.

There are people making money, and the people making the most money are in the hardware side. Do you ever wonder why it seems like there are so many people making hardware? Why don't they use it for themselves and keep all the BTC they make? Because the return on investment is really risky, better to have a guaranteed return in US dollars or BTC by selling the hardware/services.

When you think of it all that way, you can see why I believe BTC will be dominated by companies and inevitable BANKS. BANKS and INSURANCE companies are the only establishments that would logically take on this kind of thing, and the only establishments who need to BUY it out. Why did Facebook buy Whatsapp and Interest? Less competition = better life for Facebook. It is what all Oligopolies want and crave

[iluvpie60]

This was actually kind of beautiful, it was a vaguely coherent verbal vomit tour de force of practically all the FUD and myths out there, with a serving of anecdotes about a personal lack of judgement...

Mmm I do like the roflcopters. SWA SWA SWAAA SWAAA.

Anyways, I do not believe I was incoherent or vague. I am of course talking about the future, but I am doing it in a logical way at least. Most people just go this happened so durrrr and uhhh huh wuhttt and it must omg sell panic. I'm not doing that... Shrugs.

[knightcoin]

Long term, another coin will beat it out

hello? bitcoin is software what exactly are functions that cannot be adapted to bitcoin ? the most important thing to me is hashing and the proved resilience, security etc

[kooke]

You do bring up some valid points OP. Bitcoin may not be the speculative bubble it once was. However, the infrastructure is expanding and I believe an increased adoption rate will follow eventually.

[TERA]

This forum is a bad place to post a bearish thread. It's all permabulls and they're going to come up with any argument just to slaughter you. It's like you're inside of a rodeo.

[Miz4r]

This forum is a bad place to post a bearish thread. It's all permabulls and they're going to come up with any argument just to slaughter you. It's like you're inside of a rodeo.

There's nothing wrong with bearish threads, but there is something wrong about the attitude people have who make these kinds of threads. It's the arrogance behind stating a mere opinion as if they're facts and everyone who doesn't share the same opinion is a delusional bull who can't face reality. Also, history has shown us that similar threads like these have been posted in the past after the April top and also back in 2011, and look how they have made a fool out of themselves. Now who knows, maybe third time is the charm and Bitcoin will finally bite the dust for real and spiral down into a never ending downtrend until a new digital coin pops up that's actually much better. It could happen, but how likely do you think this is? If people posting these kinds of threads would show a bit more humility in their attitude I would actually start appreciating them a bit more. The same counts for bullish threads that show the same attitude by the way.

[Grami]

Bitcoin will have no more big "to the moon" rises anymore. Face reality 

Is that mean we'll not have any bubbles any more? Amazing news, man.

[Hyena]

Bitcoin will never go to the moon again because we already did that. Mars is next, stupid OP.

[iluvpie60]

Long term, another coin will beat it out

hello? bitcoin is software what exactly are functions that cannot be adapted to bitcoin ? the most important thing to me is hashing and the proved resilience, security etc

Another coin or technology I should have said. BTC isn't the end all be all of the "next best game ever" like the console morons always spout off about. Yes, CONSOLE MORONS.

[iluvpie60]

This forum is a bad place to post a bearish thread. It's all permabulls and they're going to come up with any argument just to slaughter you. It's like you're inside of a rodeo.

There's nothing wrong with bearish threads, but there is something wrong about the attitude people have who make these kinds of threads. It's the arrogance behind stating a mere opinion as if they're facts and everyone who doesn't share the same opinion is a delusional bull who can't face reality. Also, history has shown us that similar threads like these have been posted in the past after the April top and also back in 2011, and look how they have made a fool out of themselves. Now who knows, maybe third time is the charm and Bitcoin will finally bite the dust for real and spiral down into a never ending downtrend until a new digital coin pops up that's actually much better. It could happen, but how likely do you think this is? If people posting these kinds of threads would show a bit more humility in their attitude I would actually start appreciating them a bit more. The same counts for bullish threads that show the same attitude by the way.

What would you change in my opening post then? Let's just assume we are looking at changing how I "come off" in the typing of the original post. Is there actually something in there that is worded in such a way that it insults you or demeans you, or makes you feel bad to continue reading? I am actually intrigued to know what you are talking about, or if you are applying past slightly "bearish" peoples rants to what I typed.

[iluvpie60]

Bitcoin will never go to the moon again because we already did that. Mars is next, stupid OP.

Yeah? Pics or it didn't happen.

#idiot

[iluvpie60]

Bitcoin will have no more big "to the moon" rises anymore. Face reality 

Is that mean we'll not have any bubbles any more? Amazing news, man.

Make the case that we will have a big bubble that sharply increases and price goes up. You tell me. I thought the reason forums exist was so people can read other peoples opinions and respond to them(if they wish).

I don't see a whole lot of intelligence being refracted my way from ya brain sonnnnn

[iluvpie60]

This forum is a bad place to post a bearish thread. It's all permabulls and they're going to come up with any argument just to slaughter you. It's like you're inside of a rodeo.

I do understand that, yeah. It does suck that people who believe in something never want to hear the other side of it, or don't want to understand what they believe in. Sometimes I feel like most of the people on this entire website are all about "OMFG ITS CRASHING SELL NOW AND GET BACK IN WHEN IT DIPS BY 20%" OR "OMFG BUY NOW ITS RISING, MOON MOON MOON OMFG ITS THE BEST MOON YOU EVER SAW, THE MOON IS SO BRIGHT TONIGHT AND FULL OMFG BEST MOON EVERRRRRRRRRR".


I post here though to see if someone really has a counter point to what I said, a few people made interesting notes, but when I look at how things are in the real world and other companies and take everything into consideration, I don't see BTC going much of anywhere.


Avg poor people will not use this, it is too complicated for them. People who don't trust BTC don't trust it because they didn't take the time to get to know it. Not many average people get into something where you need to learn all the terms, look up the history of it, how it was made, open source code, blah. People don't openly trust BTC right away. Giving anyone a 30 minute definition of something doesn't mean they will trust it, and if it takes too long to explain in my experience, people don't wanna hear it. There aren't as many smart people in this world as you might think, and a lot of presuppositions hold people back all the time.

[g4c]

This forum is a bad place to post a bearish thread. It's all permabulls and they're going to come up with any argument just to slaughter you. It's like you're inside of a rodeo.

I do understand that, yeah. It does suck that people who believe in something never want to hear the other side of it, or don't want to understand what they believe in. Sometimes I feel like most of the people on this entire website are all about "OMFG ITS CRASHING SELL NOW AND GET BACK IN WHEN IT DIPS BY 20%" OR "OMFG BUY NOW ITS RISING, MOON MOON MOON OMFG ITS THE BEST MOON YOU EVER SAW, THE MOON IS SO BRIGHT TONIGHT AND FULL OMFG BEST MOON EVERRRRRRRRRR".


I post here though to see if someone really has a counter point to what I said, a few people made interesting notes, but when I look at how things are in the real world and other companies and take everything into consideration, I don't see BTC going much of anywhere.


Avg poor people will not use this, it is too complicated for them. People who don't trust BTC don't trust it because they didn't take the time to get to know it. Not many average people get into something where you need to learn all the terms, look up the history of it, how it was made, open source code, blah. People don't openly trust BTC right away. Giving anyone a 30 minute definition of something doesn't mean they will trust it, and if it takes too long to explain in my experience, people don't wanna hear it. There aren't as many smart people in this world as you might think, and a lot of presuppositions hold people back all the time.

In reply to bolded part:

These "average poor people" need not worry their average minds.

Consider:

Back in the day only a few geeks had computers, you basically had to get out a soldering iron and build your own out of mail order kits or go without. Some enthusiasts offered prebuilt units, but still you had to be quite the nerd to actually do anything with them, there were no operating systems to speak of, just simple bios layer. Enthusiasts met at weekly local meetups (no internet then).

Everyone else said, these things are fun for geeks but nobody else, haha look at the geeks, those thing will never take off.

Now every dropkick carries a 1GHz processor in their pocket.

The same happened with the internet, first attempts were radio amateurs running packet radio systems at low baud rates and then bulletin boards ran by uber-geeks using phone system; other geeks would all post and read to their node like a simple forum. Then came the internet.

Bitcoin is in its early days, but follows the same exponential growth as other technogy, you've got to plot it on a log scale to see it:

[g4c]

This forum is a bad place to post a bearish thread. It's all permabulls and they're going to come up with any argument just to slaughter you. It's like you're inside of a rodeo.

Resistance is futile.

[coinnewbit]

hey iluvpie60 why do you still have a signature begging ppl to contribute btc to you then?

[g4c]

hey iluvpie60 why do you still have a signature begging ppl to contribute btc to you then?

Yeah, you should change it to a paypal address.

[paratox]

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX  inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

Before I take my time to write out an answer to your statement, I would like to know why you think that limited supply doesn't mean anything? Care to explain your thought in detail?

[master-P]

When I look at BTC I see innovation. I see a technology that allows me to be my own bank instead of making crooked banks wealthier. Take a look at the top 6 profitable public companies in Canada:

1  Royal Bank of Canada    
2  Bank of Nova Scotia    
3  Toronto-Dominion Bank
4  Bank of Montreal    
5  Imperial Oil    
6  Canadian Imperial Bank of Congress    

     *source: http://en.wikipedia.org/wiki/List_of_largest_public_companies_in_Canada_by_profit

Notice that 5 of them are banks. I'm sure the pattern is similar for many other countries. It's not really surprising, given that they make money out of nothing basically. You mentioned that eventually the banks will take over BTC. They would have to buy them off of us to get them. Banks wouldn't be able to operate like they are right now using BTC unless they built an additional centralized layer on top of it. The blockchain is an open ledger that anyone can access, so they can't create endless BTC like they can do with fiat.

I realize that the days of throwing a few hundred dollars into BTC and becoming rich are over, but there's still a lot of room for growth and improvement.

[iluvpie60]

This forum is a bad place to post a bearish thread. It's all permabulls and they're going to come up with any argument just to slaughter you. It's like you're inside of a rodeo.

I do understand that, yeah. It does suck that people who believe in something never want to hear the other side of it, or don't want to understand what they believe in. Sometimes I feel like most of the people on this entire website are all about "OMFG ITS CRASHING SELL NOW AND GET BACK IN WHEN IT DIPS BY 20%" OR "OMFG BUY NOW ITS RISING, MOON MOON MOON OMFG ITS THE BEST MOON YOU EVER SAW, THE MOON IS SO BRIGHT TONIGHT AND FULL OMFG BEST MOON EVERRRRRRRRRR".


I post here though to see if someone really has a counter point to what I said, a few people made interesting notes, but when I look at how things are in the real world and other companies and take everything into consideration, I don't see BTC going much of anywhere.


Avg poor people will not use this, it is too complicated for them. People who don't trust BTC don't trust it because they didn't take the time to get to know it. Not many average people get into something where you need to learn all the terms, look up the history of it, how it was made, open source code, blah. People don't openly trust BTC right away. Giving anyone a 30 minute definition of something doesn't mean they will trust it, and if it takes too long to explain in my experience, people don't wanna hear it. There aren't as many smart people in this world as you might think, and a lot of presuppositions hold people back all the time.

In reply to bolded part:

These "average poor people" need not worry their average minds.

Consider:

Back in the day only a few geeks had computers, you basically had to get out a soldering iron and build your own out of mail order kits or go without. Some enthusiasts offered prebuilt units, but still you had to be quite the nerd to actually do anything with them, there were no operating systems to speak of, just simple bios layer. Enthusiasts met at weekly local meetups (no internet then).

Everyone else said, these things are fun for geeks but nobody else, haha look at the geeks, those thing will never take off.

Now every dropkick carries a 1GHz processor in their pocket.

The same happened with the internet, first attempts were radio amateurs running packet radio systems at low baud rates and then bulletin boards ran by uber-geeks using phone system; other geeks would all post and read to their node like a simple forum. Then came the internet.

Bitcoin is in its early days, but follows the same exponential growth as other technogy, you've got to plot it on a log scale to see it:

OK this is FUD.


Me, being a Forecasting and Planning Analyst(actual job title) can tell you right now, the basic first rule of planning and forecasting is not to take historic data and say "this must be what will happen".

See, you aren't looking at all of the bad things going on lately, and you aren't taking in all of the factors. You are just saying this is a tech thing, its gonna blow up, blah blah.

There isn't really anything that exists to make it easier to obtain BTC. Unless there is a direct point to using BTC for the average person, which there currently aren't many for, they won't care.

I am more than an average user when it comes to Tech stuff, growing up programming 3 hours a day for my "shop class" in high school. 3 hours a day * 5 days a week * school year days * 4 years is how much programming experience I had at a very young age. Believe you me, I know what I am talking about. BTC isn't really going anywhere fast.

[iluvpie60]

When I look at BTC I see innovation. I see a technology that allows me to be my own bank instead of making crooked banks wealthier. Take a look at the top 6 profitable public companies in Canada:

1  Royal Bank of Canada    
2  Bank of Nova Scotia    
3  Toronto-Dominion Bank
4  Bank of Montreal    
5  Imperial Oil    
6  Canadian Imperial Bank of Congress    

     *source: http://en.wikipedia.org/wiki/List_of_largest_public_companies_in_Canada_by_profit

Notice that 5 of them are banks. I'm sure the pattern is similar for many other countries. It's not really surprising, given that they make money out of nothing basically. You mentioned that eventually the banks will take over BTC. They would have to buy them off of us to get them. Banks wouldn't be able to operate like they are right now using BTC unless they built an additional centralized layer on top of it. The blockchain is an open ledger that anyone can access, so they can't create endless BTC like they can do with fiat.

I realize that the days of throwing a few hundred dollars into BTC and becoming rich are over, but there's still a lot of room for growth and improvement.

You don't know who your BTC is going to when you are buying and selling on exchange. They can easily get the majority it from exchanges over time without telling anyone. The Bitcoin protocol can indeed be changed to create infinite Bitcoins if Gavin and the team choose to do so.

[iluvpie60]

hey iluvpie60 why do you still have a signature begging ppl to contribute btc to you then?

This is funny. OK let me break it down for you.

My sig says "Cool Contribution bro, contribute again". So when you contribute BTC to my address I receive the BTC ok... Now then, I can spend the contributions once I have them.

You new here?

[iluvpie60]

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX  inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

Before I take my time to write out an answer to your statement, I would like to know why you think that limited supply doesn't mean anything? Care to explain your thought in detail?

Limited supply means something only IF it MEANS SOMETHING to others.

I got a used tissue I just blew my nose, and my load into. Very limited supply on that these days, most of them get thrown away! I am being an ass here lol. Couldn't resist.

[iluvpie60]

hey iluvpie60 why do you still have a signature begging ppl to contribute btc to you then?

Yeah, you should change it to a paypal address.

lol I should. That would seriously be the best thing ever, people would flame me forever if I did that.

[master-P]

You don't know who your BTC is going to when you are buying and selling on exchange. They can easily get the majority it from exchanges over time without telling anyone. The Bitcoin protocol can indeed be changed to create infinite Bitcoins if Gavin and the team choose to do so.

Sure the BTC devs can change the protocol to create infinite BTC, but they won't be able to force people to adopt such an update. Bitcoin is open source and I'm sure other programmers delicately scrutinize any updates. You're correct that anyone can buy BTC on the exchanges, but it's not a suitable medium to purchase large enough quantities to make you a majority holder. Prices would go up as they buy essentially creating another bubble. Even if the banks came to own most of the existing BTC, they would be at a huge risk because people could abandon it for another crypto, essentially making them bagholders.

[g4c]

Me, being a Forecasting and Planning Analyst(actual job title) can tell you right now, the basic first rule of planning and forecasting is not to take historic data and say "this must be what will happen".

I would only ever write things like "this may be what will happen".

Historic data is very valuable in attempts at prediction, it being the ONLY data available.

See, you aren't looking at all of the bad things going on lately, and you aren't taking in all of the factors.

Yes I am. and they are very similar to the events surrounding all previous bubbles.

You are just saying this is a tech thing, its gonna blow up, blah blah.

Price has remained within a logarithmic growth channel.

There isn't really anything that exists to make it easier to obtain BTC. Unless there is a direct point to using BTC for the average person, which there currently aren't many for, they won't care.

Recently bitcoin ATM machines are going out with quite aggressive placement strategies.

The worlds a big place.

I am more than an average user when it comes to Tech stuff, growing up programming 3 hours a day for my "shop class" in high school. 3 hours a day * 5 days a week * school year days * 4 years is how much programming experience I had at a very young age. Believe you me, I know what I am talking about.

I like coding too, my latest project is a virtual reality casino: http://www.game4coins.com/

BTC isn't really going anywhere fast.

It has come a long way very fast.

But if you don't have the stomach for it then by all means sell now.

[dragonseer]

Face reality. Or don't, idk your choice. This is kinda long. Why not. Fun is spelled F U N.

Look at all of the news in the past few months. The IRS classified Bitcoin as property(the judgement everyone was waiting for to see if it was legal or not officially) Check, its there now.

You can buy almost anything you want with BTC now(might have to convert to Gyft for some things).

Some countries have banned it some haven't.

China is basically going to ban it and cause a new price crash on April 15th(Or so I have heard and it really looks to be the case from my own research).

At this point, can anyone really say there is something that will catapult Bitcoin straight up like happened months ago?(no you can't and the comments below prove you can't even form sentences to this question). I will change my mind if someone really gives a good argument for a huge sharp rise in a short period. But I don't see one(comments below show no arguments yet).

Long term, another coin will beat it out, or something better will be invented. It's no secret mining is a completely stupid way of verifying a transaction because all that happens is that tons of computers/gpus/servers/rigs are guessing random numbers until they line up with what is needed. This eventually will cause a tremendous amount of energy waste(right now I am pretty sure all miners are losing money if they are converting into USD right away).

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX  inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

That being said, if you are one of these people who "put all of their life savings in BTC/Alt coins" I think it is time for a reality check(at least in the short term).

Oh but the Network effect you all scream like babies, tell that to MySpace rofl. Or AIM, or Yahoo, or any other person who held the network majority, its called competition(google it).

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

For reference, my friend put 3,000 bucks into stock at his company and bought in at 43 bucks per, had to hold for a lil while, then sold it at 60 bucks. Kinda wishing I never did this whole BTC thing, it helps people, but it's definitely a super minority of people this helps(for now). I agree it might help poorer countries, but "Ain't nobody got time for that" over there, they are like you know, farming and stealing to eat and survive. So #ya.


Edit 1: Let me also add, BTC it is not very user friendly for the majority of any population. You have to verify a bank account where your Fiat comes from and get a fee charged on you (but Bitcoin itself can have no fees I understand that) So you still have fees for now, so that doesn't exactly help. Fees need to be eliminated or driven down really really low, then you got a fee to withdraw into Fiat also. I understand you can just keep it in BTC, but heres the problem you run into. Say you have 1 BTC, you spend all of it, guess what? Time to pony up and pay more fees to get BTC, now you have to keep track of the flucuations of BTC according to the IRS ruling. Every time you buy or sell any coins for any reason ever, you have to keep track of it, no thanks rofl.

 If Obama can win a majority of a country of 300 million +  and get a second term based on ideas and no substance, how do you expect Bitcoin which is based on substance and some Ideology to win over morons? It won't. Also, the repubbies'cans say the same thing for the past 8 years, they presented their ideas and didn't win anything but the House. Might get Senate this time because Obama lies a lot and ppl get madzzz.


Edit 2: Personally, I incur 0% fees per year on my credit cards. All of them have no annual fee, no fees for bank transfers ever on my cards, no late payment fees ever for an unlimited amount of times, 1 and 2% cash back on everything(one of my cards is 1% but it is MasterCard I have to sometimes use), I get 5% cash back on purchases in the rotating 3 month categories(I  have 4 credit cards all linked to one b ank account, and whichever card has the 5% off of whatever I am buying I use that). So it becomes extremely wrong to advocate Bitcoin be used for rich/middle/lower middle class people. I only make 47,000 a year Salary, I am 24 years old, 2 years out of college and I am at my first "REAL" job, to tell me to use Bitcoin and get some fees converting from Fiat to BTC, then I spend the BTC, then guess what??? I need more BTC, lets incur more fees converting from Fiat to BTC. Don't you see BTC is really for poor people? If poor people only use BTC back and forth between each other it would be wonderful, but that isn't going to happen for a long long long time, 10s of years later maybe, MAYBE people will all be tech savvy. MAYBE. But BTC doesn't solve any problems for the majority of people and you know it.


Edit 3: I really feel like that mining is a huge waste of electricity, think of if we didn't have to mine and have hardware that generated random numbers to complete a hash. What then? Do we really need something to continually guess at solving a hash and it takes time and massive amounts of equipment? I don't think we do. I just think we need enough connected computers to agree what something is, I feel it is very unnecessary to have servers/mining rigs chug out random guesses at solving a hash 24/7 for Bitcoin to work. That isn't efficient, and eventually it will all be controlled by someone with the highest bankroll who can keep buying new servers/quantum computing. The fact that organizations like Cex.io exist should really make anyone question what this is all about.

There are people making money, and the people making the most money are in the hardware side. Do you ever wonder why it seems like there are so many people making hardware? Why don't they use it for themselves and keep all the BTC they make? Because the return on investment is really risky, better to have a guaranteed return in US dollars or BTC by selling the hardware/services.

When you think of it all that way, you can see why I believe BTC will be dominated by companies and inevitable BANKS. BANKS and INSURANCE companies are the only establishments that would logically take on this kind of thing, and the only establishments who need to BUY it out. Why did Facebook buy Whatsapp and Pinterest? Less competition = better life for Facebook. It is what all Oligopolies want and crave Wink

I think Bitcoin may approach $1000 again this year, but I don't see it going any higher. It could just as easily go under $100 as well. If you are going to see a huge rise in a coin in 2014, it will be because either of two things happen. It may be that a digital currency that has been floated with an airdrop gets enough traction so people start converting their fiat to it in places like Iceland with Auroracoin, or in the Netherlands with Electronic Gulden. Or it may be that you will see other altcoins used for merchant transactions, I think Bitcoin is too slow for point of sale transactions, a few altcoins like Quark and maybe Zetacoin are not. If you are heavily invested in Bitcoin you might not like these scenarios but, it just means the advantages of Bitcoin may be better realized in other open source alternatives. Another thing to be wary of this year is of things like Ripple and Mastercoin imposing themselves in this space and getting friendly with corporations. If Apple lets a Mastercoin wallet app on their store after booting off Bitcoin you will know what I mean.

[paratox]

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX  inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

Before I take my time to write out an answer to your statement, I would like to know why you think that limited supply doesn't mean anything? Care to explain your thought in detail?

Limited supply means something only IF it MEANS SOMETHING to others.

I got a used tissue I just blew my nose, and my load into. Very limited supply on that these days, most of them get thrown away! I am being an ass here lol. Couldn't resist.

The difference is, your load is only of practical use for a small part of population if at all. Limited supply of something that is useful for a large part of population is definitely meaningful.  


It seems you jump to the conclusion that demand is dropping, just because the bitcoin price is in a short/mid-term downtrend.

Demand (interest) is not as transparent as you seem to believe. How do you know that there aren't people waiting on the sidelines? Personally I know a few people who just learned about bitcoin during the last bubble  but are intelligent enough to wait for a good moment to buy in.

[Bit_Happy]

Fail.
Your post is not balanced.
If you rewrite with this in the first paragraph then it will be better and more people will read it:
Denmark has declared you can trade BTC and pay no taxes on the profits.


ps. You do not need to use bold or blue. 

Face reality. Or don't, idk your choice. This is kinda long. Why not. Fun is spelled F U N.

Look at all of the news in the past few months. The IRS classified Bitcoin as property(the judgement everyone was waiting for to see if it was legal or not officially) Check, its there now.

You can buy almost anything you want with BTC now(might have to convert to Gyft for some things).

Some countries have banned it some haven't.

China is basically going to ban it and cause a new price crash on April 15th(Or so I have heard and it really looks to be the case from my own research).

At this point, can anyone really say there is something that will catapult Bitcoin straight up like happened months ago?(no you can't and the comments below prove you can't even form sentences to this question). I will change my mind if someone really gives a good argument for a huge sharp rise in a short period. But I don't see one(comments below show no arguments yet).

Long term, another coin will beat it out, or something better will be invented. It's no secret mining is a completely stupid way of verifying a transaction because all that happens is that tons of computers/gpus/servers/rigs are guessing random numbers until they line up with what is needed. This eventually will cause a tremendous amount of energy waste(right now I am pretty sure all miners are losing money if they are converting into USD right away).

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX  inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

That being said, if you are one of these people who "put all of their life savings in BTC/Alt coins" I think it is time for a reality check(at least in the short term).

Oh but the Network effect you all scream like babies, tell that to MySpace rofl. Or AIM, or Yahoo, or any other person who held the network majority, its called competition(google it).

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

For reference, my friend put 3,000 bucks into stock at his company and bought in at 43 bucks per, had to hold for a lil while, then sold it at 60 bucks. Kinda wishing I never did this whole BTC thing, it helps people, but it's definitely a super minority of people this helps(for now). I agree it might help poorer countries, but "Ain't nobody got time for that" over there, they are like you know, farming and stealing to eat and survive. So #ya.


Edit 1: Let me also add, BTC it is not very user friendly for the majority of any population. You have to verify a bank account where your Fiat comes from and get a fee charged on you (but Bitcoin itself can have no fees I understand that) So you still have fees for now, so that doesn't exactly help. Fees need to be eliminated or driven down really really low, then you got a fee to withdraw into Fiat also. I understand you can just keep it in BTC, but heres the problem you run into. Say you have 1 BTC, you spend all of it, guess what? Time to pony up and pay more fees to get BTC, now you have to keep track of the flucuations of BTC according to the IRS ruling. Every time you buy or sell any coins for any reason ever, you have to keep track of it, no thanks rofl.

 If Obama can win a majority of a country of 300 million +  and get a second term based on ideas and no substance, how do you expect Bitcoin which is based on substance and some Ideology to win over morons? It won't. Also, the repubbies'cans say the same thing for the past 8 years, they presented their ideas and didn't win anything but the House. Might get Senate this time because Obama lies a lot and ppl get madzzz.


Edit 2: Personally, I incur 0% fees per year on my credit cards. All of them have no annual fee, no fees for bank transfers ever on my cards, no late payment fees ever for an unlimited amount of times, 1 and 2% cash back on everything(one of my cards is 1% but it is MasterCard I have to sometimes use), I get 5% cash back on purchases in the rotating 3 month categories(I  have 4 credit cards all linked to one b ank account, and whichever card has the 5% off of whatever I am buying I use that). So it becomes extremely wrong to advocate Bitcoin be used for rich/middle/lower middle class people. I only make 47,000 a year Salary, I am 24 years old, 2 years out of college and I am at my first "REAL" job, to tell me to use Bitcoin and get some fees converting from Fiat to BTC, then I spend the BTC, then guess what??? I need more BTC, lets incur more fees converting from Fiat to BTC. Don't you see BTC is really for poor people? If poor people only use BTC back and forth between each other it would be wonderful, but that isn't going to happen for a long long long time, 10s of years later maybe, MAYBE people will all be tech savvy. MAYBE. But BTC doesn't solve any problems for the majority of people and you know it.


Edit 3: I really feel like that mining is a huge waste of electricity, think of if we didn't have to mine and have hardware that generated random numbers to complete a hash. What then? Do we really need something to continually guess at solving a hash and it takes time and massive amounts of equipment? I don't think we do. I just think we need enough connected computers to agree what something is, I feel it is very unnecessary to have servers/mining rigs chug out random guesses at solving a hash 24/7 for Bitcoin to work. That isn't efficient, and eventually it will all be controlled by someone with the highest bankroll who can keep buying new servers/quantum computing. The fact that organizations like Cex.io exist should really make anyone question what this is all about.

There are people making money, and the people making the most money are in the hardware side. Do you ever wonder why it seems like there are so many people making hardware? Why don't they use it for themselves and keep all the BTC they make? Because the return on investment is really risky, better to have a guaranteed return in US dollars or BTC by selling the hardware/services.

When you think of it all that way, you can see why I believe BTC will be dominated by companies and inevitable BANKS. BANKS and INSURANCE companies are the only establishments that would logically take on this kind of thing, and the only establishments who need to BUY it out. Why did Facebook buy Whatsapp and Pinterest? Less competition = better life for Facebook. It is what all Oligopolies want and crave Wink

[master-P]

Fail.
Your post is not balanced.
If you rewrite with this in the first paragraph then it will be better and more people will read it:
Denmark has declared you can trade BTC and pay no taxes on the profits.


ps. You do not need to use bold or blue. 

The most balanced approach would be to list both the good and bad points and make an analysis based on that.

[Beans]

Face reality. Or don't, idk your choice. This is kinda long. Why not. Fun is spelled F U N.

Look at all of the news in the past few months. The IRS classified Bitcoin as property(the judgement everyone was waiting for to see if it was legal or not officially) Check, its there now.

You can buy almost anything you want with BTC now(might have to convert to Gyft for some things).

Some countries have banned it some haven't.

China is basically going to ban it and cause a new price crash on April 15th(Or so I have heard and it really looks to be the case from my own research).

At this point, can anyone really say there is something that will catapult Bitcoin straight up like happened months ago?(no you can't and the comments below prove you can't even form sentences to this question). I will change my mind if someone really gives a good argument for a huge sharp rise in a short period. But I don't see one(comments below show no arguments yet).

Long term, another coin will beat it out, or something better will be invented. It's no secret mining is a completely stupid way of verifying a transaction because all that happens is that tons of computers/gpus/servers/rigs are guessing random numbers until they line up with what is needed. This eventually will cause a tremendous amount of energy waste(right now I am pretty sure all miners are losing money if they are converting into USD right away).

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX  inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

That being said, if you are one of these people who "put all of their life savings in BTC/Alt coins" I think it is time for a reality check(at least in the short term).

Oh but the Network effect you all scream like babies, tell that to MySpace rofl. Or AIM, or Yahoo, or any other person who held the network majority, its called competition(google it).

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

For reference, my friend put 3,000 bucks into stock at his company and bought in at 43 bucks per, had to hold for a lil while, then sold it at 60 bucks. Kinda wishing I never did this whole BTC thing, it helps people, but it's definitely a super minority of people this helps(for now). I agree it might help poorer countries, but "Ain't nobody got time for that" over there, they are like you know, farming and stealing to eat and survive. So #ya.


Edit 1: Let me also add, BTC it is not very user friendly for the majority of any population. You have to verify a bank account where your Fiat comes from and get a fee charged on you (but Bitcoin itself can have no fees I understand that) So you still have fees for now, so that doesn't exactly help. Fees need to be eliminated or driven down really really low, then you got a fee to withdraw into Fiat also. I understand you can just keep it in BTC, but heres the problem you run into. Say you have 1 BTC, you spend all of it, guess what? Time to pony up and pay more fees to get BTC, now you have to keep track of the flucuations of BTC according to the IRS ruling. Every time you buy or sell any coins for any reason ever, you have to keep track of it, no thanks rofl.

 If Obama can win a majority of a country of 300 million +  and get a second term based on ideas and no substance, how do you expect Bitcoin which is based on substance and some Ideology to win over morons? It won't. Also, the repubbies'cans say the same thing for the past 8 years, they presented their ideas and didn't win anything but the House. Might get Senate this time because Obama lies a lot and ppl get madzzz.


Edit 2: Personally, I incur 0% fees per year on my credit cards. All of them have no annual fee, no fees for bank transfers ever on my cards, no late payment fees ever for an unlimited amount of times, 1 and 2% cash back on everything(one of my cards is 1% but it is MasterCard I have to sometimes use), I get 5% cash back on purchases in the rotating 3 month categories(I  have 4 credit cards all linked to one b ank account, and whichever card has the 5% off of whatever I am buying I use that). So it becomes extremely wrong to advocate Bitcoin be used for rich/middle/lower middle class people. I only make 47,000 a year Salary, I am 24 years old, 2 years out of college and I am at my first "REAL" job, to tell me to use Bitcoin and get some fees converting from Fiat to BTC, then I spend the BTC, then guess what??? I need more BTC, lets incur more fees converting from Fiat to BTC. Don't you see BTC is really for poor people? If poor people only use BTC back and forth between each other it would be wonderful, but that isn't going to happen for a long long long time, 10s of years later maybe, MAYBE people will all be tech savvy. MAYBE. But BTC doesn't solve any problems for the majority of people and you know it.


Edit 3: I really feel like that mining is a huge waste of electricity, think of if we didn't have to mine and have hardware that generated random numbers to complete a hash. What then? Do we really need something to continually guess at solving a hash and it takes time and massive amounts of equipment? I don't think we do. I just think we need enough connected computers to agree what something is, I feel it is very unnecessary to have servers/mining rigs chug out random guesses at solving a hash 24/7 for Bitcoin to work. That isn't efficient, and eventually it will all be controlled by someone with the highest bankroll who can keep buying new servers/quantum computing. The fact that organizations like Cex.io exist should really make anyone question what this is all about.

There are people making money, and the people making the most money are in the hardware side. Do you ever wonder why it seems like there are so many people making hardware? Why don't they use it for themselves and keep all the BTC they make? Because the return on investment is really risky, better to have a guaranteed return in US dollars or BTC by selling the hardware/services.

When you think of it all that way, you can see why I believe BTC will be dominated by companies and inevitable BANKS. BANKS and INSURANCE companies are the only establishments that would logically take on this kind of thing, and the only establishments who need to BUY it out. Why did Facebook buy Whatsapp and Pinterest? Less competition = better life for Facebook. It is what all Oligopolies want and crave Wink

I think Bitcoin may approach $1000 again this year, but I don't see it going any higher. It could just as easily go under $100 as well. If you are going to see a huge rise in a coin in 2014, it will be because either of two things happen. It may be that a digital currency that has been floated with an airdrop gets enough traction so people start converting their fiat to it in places like Iceland with Auroracoin, or in the Netherlands with Electronic Gulden. Or it may be that you will see other altcoins used for merchant transactions, I think Bitcoin is too slow for point of sale transactions, a few altcoins like Quark and maybe Zetacoin are not. If you are heavily invested in Bitcoin you might not like these scenarios but, it just means the advantages of Bitcoin may be better realized in other open source alternatives. Another thing to be wary of this year is of things like Ripple and Mastercoin imposing themselves in this space and getting friendly with corporations. If Apple lets a Mastercoin wallet app on their store after booting off Bitcoin you will know what I mean.

We need a centralized service that operates separate from bitcoin. Where you can register addresses under your name, then we can have charge-backs and instant transactions. That's what we need to really get the adoption rate back up.

[sidhujag]

We are early adopters.. All that stuff can happen with insurers stepping up making the markets. Refunds instant transactions etc are all possible.

[Bit_Happy]

We are early adopters.. All that stuff can happen with insurers stepping up making the markets. Refunds instant transactions etc are all possible.

Virtually anything is possible! 

[Arghhh]

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

sooo... you lost pretty much all your bitcoins by your own stupidity... and now you're in a frantic loop justifying why bitcoin will never go big again by spreading FUD?

Why on earth would anyone pay you to be a planning and forecasting analyst?

I think you, cosmofly, and fonzi should talk over beer at the Barking Bear, the trip will be provided by my early stash of HODL n' win coins.

Notice that the people spreading the most FUD are often the ones who jumped off the train early.

[Hyena]

Bitcoin will never go to the moon again because we already did that. Mars is next, stupid OP.

Yeah? Pics or it didn't happen.

#idiot

OP you're an obvious noob in this forum and in the bitcoin world. I was here long before you and all the oldfags know that Bitcoin already got to the moon. DONE. Now, let's speak about Mars.

[frienemy]

I think you, cosmofly, and fonzi should talk over beer at the Barking Bear, the trip will be provided by my early stash of HODL n' win coins.

The Barking Bear...isn't that the place with this huge suicide terrace on the top floor?

[Arghhh]

I think you, cosmofly, and fonzi should talk over beer at the Barking Bear, the trip will be provided by my early stash of HODL n' win coins.

The Barking Bear...isn't that the place with this huge suicide terrace on the top floor?

Correct. Here's the terrace:



Protip: Death by impalement

[SlipperySlope]

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

Despair.

Yet another sentiment data point indicating that we are near the bottom of this bubble collapse.

[CoinRocka]

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

Despair.

Yet another sentiment data point indicating that we are near the bottom of this bubble collapse.

Tough times are tough.   

[Chris_Sabian]

...

However, at a $6-7 billion market cap, bitcoin is smaller than Fortune 500 companies, let alone any government currency.  Look at Walmart, ExxonMobil or British Petroleum or Shell.  They all have revenues of $1 billion or more per day.

Just think about that one.

[iluvpie60]

Fail.
Your post is not balanced.
If you rewrite with this in the first paragraph then it will be better and more people will read it:
Denmark has declared you can trade BTC and pay no taxes on the profits.


ps. You do not need to use bold or blue. 

Face reality. Or don't, idk your choice. This is kinda long. Why not. Fun is spelled F U N.

Look at all of the news in the past few months. The IRS classified Bitcoin as property(the judgement everyone was waiting for to see if it was legal or not officially) Check, its there now.

You can buy almost anything you want with BTC now(might have to convert to Gyft for some things).

Some countries have banned it some haven't.

China is basically going to ban it and cause a new price crash on April 15th(Or so I have heard and it really looks to be the case from my own research).

At this point, can anyone really say there is something that will catapult Bitcoin straight up like happened months ago?(no you can't and the comments below prove you can't even form sentences to this question). I will change my mind if someone really gives a good argument for a huge sharp rise in a short period. But I don't see one(comments below show no arguments yet).

Long term, another coin will beat it out, or something better will be invented. It's no secret mining is a completely stupid way of verifying a transaction because all that happens is that tons of computers/gpus/servers/rigs are guessing random numbers until they line up with what is needed. This eventually will cause a tremendous amount of energy waste(right now I am pretty sure all miners are losing money if they are converting into USD right away).

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX  inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

That being said, if you are one of these people who "put all of their life savings in BTC/Alt coins" I think it is time for a reality check(at least in the short term).

Oh but the Network effect you all scream like babies, tell that to MySpace rofl. Or AIM, or Yahoo, or any other person who held the network majority, its called competition(google it).

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

For reference, my friend put 3,000 bucks into stock at his company and bought in at 43 bucks per, had to hold for a lil while, then sold it at 60 bucks. Kinda wishing I never did this whole BTC thing, it helps people, but it's definitely a super minority of people this helps(for now). I agree it might help poorer countries, but "Ain't nobody got time for that" over there, they are like you know, farming and stealing to eat and survive. So #ya.


Edit 1: Let me also add, BTC it is not very user friendly for the majority of any population. You have to verify a bank account where your Fiat comes from and get a fee charged on you (but Bitcoin itself can have no fees I understand that) So you still have fees for now, so that doesn't exactly help. Fees need to be eliminated or driven down really really low, then you got a fee to withdraw into Fiat also. I understand you can just keep it in BTC, but heres the problem you run into. Say you have 1 BTC, you spend all of it, guess what? Time to pony up and pay more fees to get BTC, now you have to keep track of the flucuations of BTC according to the IRS ruling. Every time you buy or sell any coins for any reason ever, you have to keep track of it, no thanks rofl.

 If Obama can win a majority of a country of 300 million +  and get a second term based on ideas and no substance, how do you expect Bitcoin which is based on substance and some Ideology to win over morons? It won't. Also, the repubbies'cans say the same thing for the past 8 years, they presented their ideas and didn't win anything but the House. Might get Senate this time because Obama lies a lot and ppl get madzzz.


Edit 2: Personally, I incur 0% fees per year on my credit cards. All of them have no annual fee, no fees for bank transfers ever on my cards, no late payment fees ever for an unlimited amount of times, 1 and 2% cash back on everything(one of my cards is 1% but it is MasterCard I have to sometimes use), I get 5% cash back on purchases in the rotating 3 month categories(I  have 4 credit cards all linked to one b ank account, and whichever card has the 5% off of whatever I am buying I use that). So it becomes extremely wrong to advocate Bitcoin be used for rich/middle/lower middle class people. I only make 47,000 a year Salary, I am 24 years old, 2 years out of college and I am at my first "REAL" job, to tell me to use Bitcoin and get some fees converting from Fiat to BTC, then I spend the BTC, then guess what??? I need more BTC, lets incur more fees converting from Fiat to BTC. Don't you see BTC is really for poor people? If poor people only use BTC back and forth between each other it would be wonderful, but that isn't going to happen for a long long long time, 10s of years later maybe, MAYBE people will all be tech savvy. MAYBE. But BTC doesn't solve any problems for the majority of people and you know it.


Edit 3: I really feel like that mining is a huge waste of electricity, think of if we didn't have to mine and have hardware that generated random numbers to complete a hash. What then? Do we really need something to continually guess at solving a hash and it takes time and massive amounts of equipment? I don't think we do. I just think we need enough connected computers to agree what something is, I feel it is very unnecessary to have servers/mining rigs chug out random guesses at solving a hash 24/7 for Bitcoin to work. That isn't efficient, and eventually it will all be controlled by someone with the highest bankroll who can keep buying new servers/quantum computing. The fact that organizations like Cex.io exist should really make anyone question what this is all about.

There are people making money, and the people making the most money are in the hardware side. Do you ever wonder why it seems like there are so many people making hardware? Why don't they use it for themselves and keep all the BTC they make? Because the return on investment is really risky, better to have a guaranteed return in US dollars or BTC by selling the hardware/services.

When you think of it all that way, you can see why I believe BTC will be dominated by companies and inevitable BANKS. BANKS and INSURANCE companies are the only establishments that would logically take on this kind of thing, and the only establishments who need to BUY it out. Why did Facebook buy Whatsapp and Pinterest? Less competition = better life for Facebook. It is what all Oligopolies want and crave Wink

I respectfully disagree, I DO need to use bold and blue. If people want to read it they will. Too bad almost no volume of trading in BTC happens in Denmark. But don't let facts get in your way.

[herebittybittybitty]

tl;dr

[iluvpie60]

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

sooo... you lost pretty much all your bitcoins by your own stupidity... and now you're in a frantic loop justifying why bitcoin will never go big again by spreading FUD?

Why on earth would anyone pay you to be a planning and forecasting analyst?

I think you, cosmofly, and fonzi should talk over beer at the Barking Bear, the trip will be provided by my early stash of HODL n' win coins.

Notice that the people spreading the most FUD are often the ones who jumped off the train early.

I lost roughly 45% of my BTC due to Cex.io randomly putting Futures Options in. Which created a panic sell and I went from having aabout 7 BTC to like 3.6 or so. Then I transferred it all over to Just Dice, and accidentally held down the C key when I meant to hold down the X key. I bet there all the time for small amounts, X decreases the bet, C increases it. I am not in any frantic loop, if you actually take what I said and analyze the tone/mood of my words(which you obviously can't because you flunked 7th grade English/Grammar class, fucking idiot), then maybe you would understand.

Why do people pay me to be a Planning and Forecasting Analyst?? Gee three guesses and the first two don't count.

Not spreading FUD you fucking moron, you are saying I am, just because you say it doesn't make it so. Fuck off.

[iluvpie60]

tl;dr

More like: You are too dumb, can't comprehend.

#idiot

[iluvpie60]

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

Despair.

Yet another sentiment data point indicating that we are near the bottom of this bubble collapse.

You obviously failed 7th grade English/Grammar class also. Please educate yourself on Tone/Moods of sentence structure.

Sigh, fucking idiots in here like usual.

[iluvpie60]

Bitcoin will never go to the moon again because we already did that. Mars is next, stupid OP.

Yeah? Pics or it didn't happen.

#idiot

OP you're an obvious noob in this forum and in the bitcoin world. I was here long before you and all the oldfags know that Bitcoin already got to the moon. DONE. Now, let's speak about Mars.

Dang, I can Photoshop a pic of it going into the ground.

You're an obvious fucking moron and don't want to hear any opinion unless it agrees with your own.

Just my $.02

No one cares about you being gay either.

[Arghhh]

I lost roughly 45% of my BTC due to Cex.io randomly putting Futures Options in. Which created a panic sell and I went from having aabout 7 BTC to like 3.6 or so. Then I transferred it all over to Just Dice, and accidentally held down the C key when I meant to hold down the X key. I bet there all the time for small amounts, X decreases the bet, C increases it. I am not in any frantic loop, if you actually take what I said and analyze the tone/mood of my words(which you obviously can't because you flunked 7th grade English/Grammar class, fucking idiot), then maybe you would understand.

Why do people pay me to be a Planning and Forecasting Analyst?? Gee three guesses and the first two don't count.

Not spreading FUD you fucking moron, you are saying I am, just because you say it doesn't make it so. Fuck off.

oooh them fighting words...  

So you just reconfirmed to everyone that you lost all your coins because you're incompetent...
Doesn't that tell the rest of us that you are incompetent in other things as well... like forecasting analysis?

I'm sorry that you've been robbed of your coins and is no longer onboard... but that doesn't mean you should take it out on the world.

[iluvpie60]

We are early adopters.. All that stuff can happen with insurers stepping up making the markets. Refunds instant transactions etc are all possible.

There will be that stuff yes, through banks and massive insurance companies. You have to look at it through this premise, BIG ASS BANKS and BIG ASS INSURANCE(no pun intended) are virtually the only establishments that can take this on, which is the opposite of what BTC is founded on. BTC isn't founded on BIG ASS BANKS and BIG ASS INSURANCE taking over later. That is going to be a major issue that people will not like who subscribe to this ideology.

That being said, there's really no point in even using BTC for the average person when you get 5% cash back on a credit card with no annual fees and no late payment issues. Bitcoin doesn't give out loans, if it did it would become something people use more obviously, and it would also become just like the banks everyone sought to get away from.

My whole point is that BTC will turn into an online only type of bank(BlockChain.Info rings a bell), where eventually people will lend out things(this already happens on a small scale), there will be interest(already happens just like a bank), there is already fractional reserves(MTGOX and other hacked exchanges prove this), then you got insurance(already big banks doing this for BTC)...How about we talk about how BTC will get away from these things, because right now BTC really isn't going away from banks, it is turning into them.

[Bit_Happy]

Face reality
Reality is for people who cannot handle Bitcoins.  

[iluvpie60]

I lost roughly 45% of my BTC due to Cex.io randomly putting Futures Options in. Which created a panic sell and I went from having aabout 7 BTC to like 3.6 or so. Then I transferred it all over to Just Dice, and accidentally held down the C key when I meant to hold down the X key. I bet there all the time for small amounts, X decreases the bet, C increases it. I am not in any frantic loop, if you actually take what I said and analyze the tone/mood of my words(which you obviously can't because you flunked 7th grade English/Grammar class, fucking idiot), then maybe you would understand.

Why do people pay me to be a Planning and Forecasting Analyst?? Gee three guesses and the first two don't count.

Not spreading FUD you fucking moron, you are saying I am, just because you say it doesn't make it so. Fuck off.

oooh them fighting words...  

So you just reconfirmed to everyone that you lost all your coins because you're incompetent...
Doesn't that tell the rest of us that you are incompetent in other things as well... like forecasting analysis?

I'm sorry that you've been robbed of your coins and is no longer onboard... but that doesn't mean you should take it out on the world.

Why do I have to reconfirm something that I already confirmed to begin with... Are you retarded???

IDGAF if you wanna pretend you are sorry for anyone losing coins, its money dude, stuff like this happens. I personally couldn't care less. I only mention it so people know where I am coming from. I never said I was off board either, are you fucking dense? I support BTC you fucking idiot.

[iluvpie60]

Face reality
Reality is for people who cannot handle Bitcoins.  

Should it say "Virtual Reality" or "Crypto Reality"?



Just updated it.

You are right.

[Arghhh]

Why do I have to reconfirm something that I already confirmed to begin with... Are you retarded???

IDGAF if you wanna pretend you are sorry for anyone losing coins, its money dude, stuff like this happens. I personally couldn't care less. I only mention it so people know where I am coming from. I never said I was off board either, are you fucking dense? I support BTC you fucking idiot.

sooo... you lost your money not just once, but several times because of your bad judgment... and I'm the idiot for pointing that out?

 

[iluvpie60]

Why do I have to reconfirm something that I already confirmed to begin with... Are you retarded???

IDGAF if you wanna pretend you are sorry for anyone losing coins, its money dude, stuff like this happens. I personally couldn't care less. I only mention it so people know where I am coming from. I never said I was off board either, are you fucking dense? I support BTC you fucking idiot.

sooo... you lost your money not just once, but several times because of your bad judgment... and I'm the idiot for pointing that out?

 

You're an idiot because you are trying to troll someone who is smarter than you in the sense of word play. Quit wasting your time, you aren't proving anything and you lack the tools to communicate effectively.

Losing my BTC is my own doing, if I didn't list it here you legit wouldn't have anything to say because you can't actually form an opinion on what is going to happen to BTC. So you focus on demeaning other people. That is like level 1 trolling dude. Get on my level.

[kooke]

and don't want to hear any opinion unless it agrees with your own.

We have heard your opinion, but we don't agree with parts of it. Some of us have responded with valid counter-arguments I believe. You may deem us as delusional and unable to grasp reality, but some of our experiences with BTC greatly differ from yours.

[Arghhh]

You're an idiot because you are trying to troll someone who is smarter than you in the sense of word play. Quit wasting your time, you aren't proving anything and you lack the tools to communicate effectively.

Losing my BTC is my own doing, if I didn't list it here you legit wouldn't have anything to say because you can't actually form an opinion on what is going to happen to BTC. So you focus on demeaning other people. That is like level 1 trolling dude. Get on my level.

easy there tiger... that nasty temper is going to lose you another 3k worth of investment yet.

 
 
 

[iluvpie60]

and don't want to hear any opinion unless it agrees with your own.

We have heard your opinion, but we don't agree with it. Some of us have responded with valid counter-arguments I believe. You may deem us as delusional and unable to grasp reality, but some of our experiences with BTC greatly differ from yours.

And we have heard your opinion. So many bulls involved in something because they hope and wish it will succeed. Sorry for being the Mayor of Realville and you don't like it. People never want to hear good advice, and they always shoot the messenger. ALWAYS.

[iluvpie60]

You're an idiot because you are trying to troll someone who is smarter than you in the sense of word play. Quit wasting your time, you aren't proving anything and you lack the tools to communicate effectively.

Losing my BTC is my own doing, if I didn't list it here you legit wouldn't have anything to say because you can't actually form an opinion on what is going to happen to BTC. So you focus on demeaning other people. That is like level 1 trolling dude. Get on my level.

easy there tiger... that nasty temper is going to lose you another 3k worth of investment yet.

 
 
 

Since you seem to have trouble comprehending Tone and Mood. Let me Google that for you! A tool used by smart people to help dumb ass people like yourself

http://lmgtfy.com/?q=Tone+and+Mood+sentence+structure

[Arghhh]

Since you seem to have trouble comprehending Tone and Mood. Let me Google that for you! A tool used by smart people to help dumb ass people like yourself

http://lmgtfy.com/?q=Tone+and+Mood+sentence+structure

you should really try to stay on topic, this is a speculation thread, not a I-lost-my-money-and-now-I'm-taking-it-out-on-the-world-thread.

[herebittybittybitty]

tl;dr

More like: You are too dumb, can't comprehend.

#idiot

I don't read garbage posted by hysterics who use hashtags.

[iluvpie60]

Since you seem to have trouble comprehending Tone and Mood. Let me Google that for you! A tool used by smart people to help dumb ass people like yourself

http://lmgtfy.com/?q=Tone+and+Mood+sentence+structure

you should really try to stay on topic, this is a speculation thread, not a I-lost-my-money-and-now-I'm-taking-it-out-on-the-world-thread.

You're the one who keeps on about it, you should really stay on topic bub. This is a speculation thread, not a "Lets talk about how someone lost their money and bully them thread".

[iluvpie60]

tl;dr

More like: You are too dumb, can't comprehend.

#idiot

I don't read garbage posted by hysterics who use hashtags.

I don't dumb down my posts so that idiots will understand them.

#idiot

[sidhujag]

tl;dr

And this is any better? Please post something useful or dont post at all...

[kooke]

And we have heard your opinion. So many bulls involved in something because they hope and wish it will succeed. Sorry for being the Mayor of Realville and you don't like it. People never want to hear good advice, and they always shoot the messenger. ALWAYS.

Try not to let the delusional speculators get to you. Some people here think that BTC has to go either boom or bust. There is a middle ground with a positive, bullish long-term outlook, and that's where I currently stand.

[aminorex]

to the blood red moon 4/15

[Arghhh]

You're the one who keeps on about it, you should really stay on topic bub. This is a speculation thread, not a "Lets talk about how someone lost their money and bully them thread".

What do you ever mean?

I merely pointed out that you lost money as a result of your incompetence, which in turn leads us to speculate that you may be incompetent in other areas, such as forecasting analysis. That is merely logical, I see no bullying there.

Are you sensitive?

[iluvpie60]

And we have heard your opinion. So many bulls involved in something because they hope and wish it will succeed. Sorry for being the Mayor of Realville and you don't like it. People never want to hear good advice, and they always shoot the messenger. ALWAYS.

Try not to let the delusional speculators get to you. Some people here think that BTC has to go either boom or bust. There is a middle ground with a positive, bullish long-term outlook, and that's where I currently stand.

I agree on that.

[iluvpie60]

You're the one who keeps on about it, you should really stay on topic bub. This is a speculation thread, not a "Lets talk about how someone lost their money and bully them thread".

What do you ever mean?

I merely pointed out that you lost money as a result of your incompetence, which in turn leads us to speculate that you may be incompetent in other areas, such as forecasting analysis. That is merely logical, I see no bullying there.

Are you sensitive?

What ever do you mean? Why don't you just say what you mean instead of beating around the bush so much. SPIT IT OUT(no pun intended).

[Arghhh]

You're kinda derailing your own thread here, buddy.

[iluvpie60]

You're kinda derailing your own thread here, buddy.

So do you have anything to contribute? Or are you going to keep derailing my thread... Admin please delete all posts from him on this thread. Thanks.

[Arghhh]

Cool contribution bro, contribute again.

[Dr. LY]

A lot of words to say absolutely nothing.

"To the moon" is a joke which has no actual meaning. Is "the moon" $1000? $700? $10,000? $100,000?

If you're saying we need to "face reality" by acknowledging that bitcoin will never rise again, then you're saying its dead, which is just nonsense.

[SlipperySlope]

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

Despair.

Yet another sentiment data point indicating that we are near the bottom of this bubble collapse.

You obviously failed 7th grade English/Grammar class also. Please educate yourself on Tone/Moods of sentence structure.

Sigh, fucking idiots in here like usual.

Anger.

Negative sentiment prevails.

Bottoms are characterized by a lack of buyers. I cannot imagine a situation that would induce you to buy more bitcoins. Yet that, I believe, is the wisest course of action.

In the morning, when the store hosting my neighborhood Robocoin ATM opens, I will buy some more coin.

[uhoh]

Bitcoin, January 2013 - $13    "Bitcoin is never going to rise above $15 you crazy people"

Bitcoin, April 2014 - $460      "Bitcoin is dead, give up"

Bitcoin, January 2015 - ?

[Rampion]

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

Despair.

Yet another sentiment data point indicating that we are near the bottom of this bubble collapse.

You obviously failed 7th grade English/Grammar class also. Please educate yourself on Tone/Moods of sentence structure.

Sigh, fucking idiots in here like usual.

Anger.

Negative sentiment prevails.

Bottoms are characterized by a lack of buyers. I cannot imagine a situation that would induce you to buy more bitcoins. Yet that, I believe, is the wisest course of action.

In the morning, when the store hosting my neighborhood Robocoin ATM opens, I will buy some more coin.

Definitely. I'm buying too. Market sentiment is very bottom-ish.

And OP: you bought close to the top. I'm sure you didn't expect BTC to go just up forever, and that by analizing past history you know it is prone to boom and bust cycles. Just hold.

[SlipperySlope]

Bitcoin, January 2013 - $13    "Bitcoin is never going to rise above $15 you crazy people"

Bitcoin, April 2014 - $460      "Bitcoin is dead, give up"

Bitcoin, January 2015 - ?

My favorite from 2011 . . .

There are still a lot of people with a lot of coins that were acquired when the price was well under a dollar.  If things continue, I'm sure many of them will be happy to cash out at even $5 (potentially profiting thousands of dollars in from a small initial investment in less than a year).  I think everybody should be prepared for things to get real ugly.  Honestly, I'm not even confident this project will survive a year as anything more than a tiny hobby with a market cap of a few million.  It looks to me like this ship is sinking, and I have a hard time imagining any well-funded investors foolish enough to jump on board at this point.

[sidhujag]

Bitcoin, January 2013 - $13    "Bitcoin is never going to rise above $15 you crazy people"

Bitcoin, April 2014 - $460      "Bitcoin is dead, give up"

Bitcoin, January 2015 - ?

My favorite from 2011 . . .

There are still a lot of people with a lot of coins that were acquired when the price was well under a dollar.  If things continue, I'm sure many of them will be happy to cash out at even $5 (potentially profiting thousands of dollars in from a small initial investment in less than a year).  I think everybody should be prepared for things to get real ugly.  Honestly, I'm not even confident this project will survive a year as anything more than a tiny hobby with a market cap of a few million.  It looks to me like this ship is sinking, and I have a hard time imagining any well-funded investors foolish enough to jump on board at this point.

Those same ppl moved onto complaining about deflation. 10 minute
block times and irreversible tx.. maybe annonmity too.

[iluvpie60]

A lot of words to say absolutely nothing.

"To the moon" is a joke which has no actual meaning. Is "the moon" $1000? $700? $10,000? $100,000?

If you're saying we need to "face reality" by acknowledging that bitcoin will never rise again, then you're saying its dead, which is just nonsense.

Good of you to actually read what I said. But remembering is half the battle. Please re-read and see me after class. D-

[iluvpie60]

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

Despair.

Yet another sentiment data point indicating that we are near the bottom of this bubble collapse.

You obviously failed 7th grade English/Grammar class also. Please educate yourself on Tone/Moods of sentence structure.

Sigh, fucking idiots in here like usual.

Anger.

Negative sentiment prevails.

Bottoms are characterized by a lack of buyers. I cannot imagine a situation that would induce you to buy more bitcoins. Yet that, I believe, is the wisest course of action.

In the morning, when the store hosting my neighborhood Robocoin ATM opens, I will buy some more coin.

Alright, I will assume you are an inteligent person. How many times have you legit been angry at something someone said on the internet? About .0000000001% of the time right? Guess what man, this isn't one of those times for me, and no one and I mean no one on these forums have ever made me angry. People here are way too lame to actually get me riled. Now I will respond with vulgarity when I believe I am speaking with someone who is actually better of 6 feet under. Since you still want to say I am exhibiting anger, I will once again call you wrong and claim you failed 7th grade English/Grammar class and I will add further; you have most likely failed all English/Grammar courses all through high school as well.

[iluvpie60]

Bitcoin, January 2013 - $13    "Bitcoin is never going to rise above $15 you crazy people"

Bitcoin, April 2014 - $460      "Bitcoin is dead, give up"

Bitcoin, January 2015 - ?

Nice random quoting that has nothing to do with the topic....

[iluvpie60]

Cool contribution bro, contribute again.

Thanks for the free bump in my thread, but I would prefer an Admin deleted all of your posts and all of my responses to you. Admin please delete all his posts as they are spam. He keeps bumping my thread and I won't want it to be artificially bumped.

[Arghhh]

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

Despair.

Yet another sentiment data point indicating that we are near the bottom of this bubble collapse.

You obviously failed 7th grade English/Grammar class also. Please educate yourself on Tone/Moods of sentence structure.

Sigh, fucking idiots in here like usual.

Anger.

Negative sentiment prevails.

Bottoms are characterized by a lack of buyers. I cannot imagine a situation that would induce you to buy more bitcoins. Yet that, I believe, is the wisest course of action.

In the morning, when the store hosting my neighborhood Robocoin ATM opens, I will buy some more coin.

Alright, I will assume you are an inteligent person. How many times have you legit been angry at something someone said on the internet? About .0000000001% of the time right? Guess what man, this isn't one of those times for me, and no one and I mean no one on these forums have ever made me angry. People here are way too lame to actually get me riled. Now I will respond with vulgarity when I believe I am speaking with someone who is actually better of 6 feet under. Since you still want to say I am exhibiting anger, I will once again call you wrong and claim you failed 7th grade English/Grammar class and I will add further; you have most likely failed all English/Grammar courses all through high school as well.

Yo buddy, this is a bitcoin speculation thread, not a therapy session.

Stay on topic okay?

[Dotto]

Your contributions stink bro, don´t contribute again.

[greenlion]

OP can't express any idea whatsoever without insulting the reader and completely spazzes out the moment anyone disagrees about anything. This thread really isn't actually about a topic anymore, we 're just grabbing popcorn and witnessing a nervous breakdown unfold right before our eyes.

[Rampion]

Bitcoin, January 2013 - $13    "Bitcoin is never going to rise above $15 you crazy people"

Bitcoin, April 2014 - $460      "Bitcoin is dead, give up"

Bitcoin, January 2015 - ?

Nice random quoting that has nothing to do with the topic....

It has. History repeats. Posts like yours just demonstrate that we already hit the bottom of the last bubble ($400ish) and that the way down is limited.

Those who bought at the near-top without a clear vision on fundamentals usually get over sentimental and bitter and sell at the near-bottom.

[BitchicksHusband]

You can buy almost anything you want with BTC now(might have to convert to Gyft for some things).

You can't use bitcoin on Amazon or Ebay.  

http://www.gyft.com/merchants/amazon-com/

[freebit13]

You can buy almost anything you want with BTC now(might have to convert to Gyft for some things).

You can't use bitcoin on Amazon or Ebay.  

http://www.gyft.com/merchants/amazon-com/

...and another: http://www.coindesk.com/snapcard-merchants-shop-bitcoin/

[BitCoinsLOL]

TLTR

[iluvpie60]

Bitcoin, January 2013 - $13    "Bitcoin is never going to rise above $15 you crazy people"

Bitcoin, April 2014 - $460      "Bitcoin is dead, give up"

Bitcoin, January 2015 - ?

Nice random quoting that has nothing to do with the topic....

It has. History repeats. Posts like yours just demonstrate that we already hit the bottom of the last bubble ($400ish) and that the way down is limited.

Those who bought at the near-top without a clear vision on fundamentals usually get over sentimental and bitter and sell at the near-bottom.

History != causality.

[iluvpie60]

OP can't express any idea whatsoever without insulting the reader and completely spazzes out the moment anyone disagrees about anything. This thread really isn't actually about a topic anymore, we 're just grabbing popcorn and witnessing a nervous breakdown unfold right before our eyes.

Oh wow you sure contributed a ton to this... NOT...


I am quite content in my life as a whole. This thread would be on topic if more people ACTUALLY DISCUSSED WHAT I POSTED. But instead people like YOU come in here and cry about how the thread is off topic, while making the thread more OFF TOPIC.

Ironic isn't it?

lol idk what ya talkin nervous breakdown. MAYBE NERD-BUS BREAKDOWN. Cuz ya'll r trippin.

Please actually discuss something or go away troll.

[iluvpie60]

Your contributions stink bro, don´t contribute again.

Oh yeah, real great.

At least you are giving me a free thread bump(but I don't want that really)... I would rather have people discussing things, so far you criticized me but didn't leave your own thoughts for me to criticize. Pray tell can you express them? Or are you another idiot coming here to troll?

The latter so far...

[iluvpie60]

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

Despair.

Yet another sentiment data point indicating that we are near the bottom of this bubble collapse.

You obviously failed 7th grade English/Grammar class also. Please educate yourself on Tone/Moods of sentence structure.

Sigh, fucking idiots in here like usual.

Anger.

Negative sentiment prevails.

Bottoms are characterized by a lack of buyers. I cannot imagine a situation that would induce you to buy more bitcoins. Yet that, I believe, is the wisest course of action.

In the morning, when the store hosting my neighborhood Robocoin ATM opens, I will buy some more coin.

Alright, I will assume you are an intelligent person. How many times have you legit been angry at something someone said on the internet? About .0000000001% of the time right? Guess what man, this isn't one of those times for me, and no one and I mean no one on these forums have ever made me angry. People here are way too lame to actually get me riled. Now I will respond with vulgarity when I believe I am speaking with someone who is actually better of 6 feet under. Since you still want to say I am exhibiting anger, I will once again call you wrong and claim you failed 7th grade English/Grammar class and I will add further; you have most likely failed all English/Grammar courses all through high school as well.

Yo buddy, this is a bitcoin speculation thread, not a therapy session.

Stay on topic okay?

You have been off topic this entire thread.

Like I said, only intelligent people have things to say. Keep bumping my thread if you really want to. You're only helping me.

[iluvpie60]

You can buy almost anything you want with BTC now(might have to convert to Gyft for some things).

You can't use bitcoin on Amazon or Ebay.  

http://www.gyft.com/merchants/amazon-com/

...and another: http://www.coindesk.com/snapcard-merchants-shop-bitcoin/

It is things like that that make me like BTC more. But I am still not sold on converting FIAT into BTC while it is still volatile and has fees on converting. Don't get me wrong it would be nice to use BTC to buy things, but they gotta give me a 5% discount to do that, if I see some upside on pricing in USD that could beat out my 5% discount through my cc. The only problem is that I can also lose 20% in a day if I want to buy something in BTC(at least while its still volatile).

I think once a few years go by then we can really know if its going to get bigger.

[RodeoX]

By all means sell so you are not a "bag holder" like me. 

[cbutters]

*Yawn....

Meanwhile, I'm using bitcoin to buy and sell computer parts without having to give 15% of my sales / purchases to paypal/ebay.

Even when I have sold things using paypal, I then have gotten hit with chargebacks that have cost me THOUSANDS of dollars DESPITE having been authorized by paypal to ship the item to confirmed addresses.

With bitcoin, when someone pays me for something, I then ship it. I don't need to worry. Nobody is going to take those funds back away from me. Bitcoin is revolutionary for web payments.


Also shopping for groceries at target and Wal-Mart using bitcoin.

Also.... why would I trust someone who can't spell "becoming"?

[solarion]

*Yawn....

Meanwhile, I'm using bitcoin to buy and sell computer parts without having to give 15% of my sales / purchases to paypal/ebay.

Even when I have sold things using paypal, I then have gotten hit with chargebacks that have cost me THOUSANDS of dollars DESPITE having been authorized by paypal to ship the item to confirmed addresses.

With bitcoin, when someone pays me for something, I then ship it. I don't need to worry. Nobody is going to take those funds back away from me. Bitcoin is revolutionary for web payments.


Also shopping for groceries at target and Wal-Mart using bitcoin.

Quoted for emphasis.

fleabay/paypal and the credit peddlers that create fiat from thin air and then charge ridiculous interest on it can feel free to expire now. BTC is waking people up to new possibilities. Opening up their eyes to what economic freedom could really mean to them.

[BittBurger]

BTC "becoming banking" is precisely why Bitcoin is going to the moon.

I realize it annoys/scares some of us that big banks may assimilate BTC into their operations.  Bothers me too.

But doing so will only increase its value.

-B-

[Arghhh]

OP:

[Arghhh]

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

Despair.

Yet another sentiment data point indicating that we are near the bottom of this bubble collapse.

You obviously failed 7th grade English/Grammar class also. Please educate yourself on Tone/Moods of sentence structure.

Sigh, fucking idiots in here like usual.

Anger.

Negative sentiment prevails.

Bottoms are characterized by a lack of buyers. I cannot imagine a situation that would induce you to buy more bitcoins. Yet that, I believe, is the wisest course of action.

In the morning, when the store hosting my neighborhood Robocoin ATM opens, I will buy some more coin.

Alright, I will assume you are an intelligent person. How many times have you legit been angry at something someone said on the internet? About .0000000001% of the time right? Guess what man, this isn't one of those times for me, and no one and I mean no one on these forums have ever made me angry. People here are way too lame to actually get me riled. Now I will respond with vulgarity when I believe I am speaking with someone who is actually better of 6 feet under. Since you still want to say I am exhibiting anger, I will once again call you wrong and claim you failed 7th grade English/Grammar class and I will add further; you have most likely failed all English/Grammar courses all through high school as well.

Yo buddy, this is a bitcoin speculation thread, not a therapy session.

Stay on topic okay?

You have been off topic this entire thread.

Like I said, only intelligent people have things to say. Keep bumping my thread if you really want to. You're only helping me.

I'm trying to help you out buddy, you read my thoughts exactly!

Tell you what, every time bitcoin's value goes up by $1000, I'll bump this thread once to remind you how much coins you lost, so that you don't lose them again!

... Only trying to help you out...

[fonzie]

By far the biggest idiot this month "Arghhh"

Congratulations!

[SlipperySlope]

Tell you what, every time bitcoin's value goes up by $1000, I'll bump this thread once to remind you how much coins you lost, so that you don't lose them again!

My favorite thread to bump during a bubble mania is the classic . . .

I am pretty confident we are the new wealthy elite, gentlemen.

There is simply no pleasure in reminding folks of their bad decisions.

[Hyena]

Did OP change the title of the topic? Wtf has it to do with banking anyway?

[SlipperySlope]

Did OP change the title of the topic? Wtf has it to do with banking anyway?

I believe that the revised title would be less embarrassing should bitcoin indeed go to the moon on the next bubble, that many expect to occur this summer. At least half of the title would be somewhat true if Second Market opens a Wall Street style exchange for bitcoin..

[Arghhh]

By far the richest idiot this month "Arghhh"

Congratulations!

FTFY

[iluvpie60]

*Yawn....

Meanwhile,(No comma here) I'm using bitcoin(Bitcoin) to buy and sell computer parts without having to give 15% of my sales / purchases to paypal/ebay(PayPal/Ebay, also why use the "/" correctly here and not use it correctly for sales/purchases?).

Even when I have sold things using paypal(PayPal), I then have gotten hit with chargebacks(charge-backs) that have cost me THOUSANDS of dollars DESPITE having been authorized by paypal(PayPal) to ship the item to confirmed addresses. (Rewrite this entire sentence, structure is VERY awkward and not well written)

With bitcoin(Bitcoin),(Why is there a comma here?) when someone pays me for something, I then ship it(I would rewrite this to "With PayPal someone pays me for something and then I ship it). I don't need to worry(What is the subject of the worry?). Nobody is going to take those funds back away from me. Bitcoin(you capitalized it here...) is revolutionary for web payments.


Also, (Added comma here)shopping for groceries at target and Wal-Mart(Walmart) using bitcoin(Bitcoin).

Also.... why(Why,Google this) would I trust someone who can't spell "becoming"?

I am going to completely fix everything you just typed. Only because you are calling me out on an extra accidentally added "m".

Please see me after class, F.

[iluvpie60]

Did OP change the title of the topic? Wtf has it to do with banking anyway?

I believe that the revised title would be less embarrassing should bitcoin indeed go to the moon on the next bubble, that many expect to occur this summer. At least half of the title would be somewhat true if Second Market opens a Wall Street style exchange for bitcoin..

Yes, I changed the title to talk about how BTC is turning into BANKING. I realized that half way through this thread that BTC is becoming more like BANKING. That scared me, so I changed the title so when people read these posts they make more sense.

Also, when talking about BTC having a sharp rise, in the sense of banking, BTC would be limited on sharp exponential and logarithmic gains as most banks do not experience this phenomenon. That is the whole reason I changed the title.

Thanks.

[iluvpie60]

By all means sell so you are not a "bag holder" like me. 

In my post I mentioned how I only have .05 BTC total left.

[greenlion]

Yes, I changed the title to talk about how BTC is turning into BANKING. I realized that half way through this thread that BTC is becoming more like BANKING. That scared me, so I changed the title so when people read these posts they make more sense.

Also, when talking about BTC having a sharp rise, in the sense of banking, BTC would be limited on sharp exponential and logarithmic gains as most banks do not experience this phenomenon. That is the whole reason I changed the title.

Thanks.

I don't even know where to start in terms of how hilarious all of this is, please write more!

Seriously, OP is some kind of accidental comedic genius.

[iluvpie60]

Yes, I changed the title to talk about how BTC is turning into BANKING. I realized that half way through this thread that BTC is becoming more like BANKING. That scared me, so I changed the title so when people read these posts they make more sense.

Also, when talking about BTC having a sharp rise, in the sense of banking, BTC would be limited on sharp exponential and logarithmic gains as most banks do not experience this phenomenon. That is the whole reason I changed the title.

Thanks.

I don't even know where to start in terms of how hilarious all of this is, please write more!

Seriously, OP is some kind of accidental comedic genius.

You are correct about my personal character traits being considered "comedic" in most forms. I am no genius in terms of IQ or anything like that so I cannot agree with that statement.


True skill like my Halo 4 Covenant Sniper Double Kill on a flying Mongoose through a gravity lift is never accidental. Ya just gotta get em when ya got em. Scoremasterism isn't a choice. Born 1st. Born 2nd. Born 3rd. Born 4th. Born 5th. Born Scoremaster6.

"What if you miss?" - Cortana

"I won't" - ScoremasterChief.

[iluvpie60]

Hope people took my advice on the "Short term" as stated in my original post.

Dipping down to 390 now.

Good luck, and may the Gox be ever in your favor!

[Bit_co_i_n]

Even if OP is obviously butthurt.
His post show some common sense , wich is not the rule here.
Bicoin price fall has apparently some nice collateral effect on bitcoiner and raise average awareness

[mitzie]

whatever happens... as jeff garzik says, it's an experiment

Can't agree more

[SlipperySlope]

whatever happens... as jeff garzik says, it's an experiment... and that's part of the fun for me, seeing where it goes.

Can't agree more

I love the flood of endorphins during the weeks of bitcoin bubble mania.

The crashes, paradoxically have never hurt, as I have always been mining, earning or buying coins during the bottoms.

[NationOwnedCCNow]

How come everyone who loses their BTC/Money all of a sudden understands everything about and around cryptocurrencies and get theese deep genius-like Insights of how and why everything MUST fail.. ? 

[iluvpie60]

How come everyone who loses their BTC/Money all of a sudden understands everything about and around cryptocurrencies and get theese deep genius-like Insights of how and why everything MUST fail.. ? 

You can go back and look at my past posts, I haven't really changed my mind to begin with. I didn't say it would fail, YOU SAID I said that.

[master-P]

For some reason, the average person on here thinks btc has to either go to the moon or crash into the ground. I guess they don't realize that each time btc explodes upwards, the likelihood of a similar rise becomes less and less. Anybody who casts doubt on another meteoric rise is shunned and attacked. Greed is a great motivator, some of these people think that btc is the greatest thing to grace their lives.

[SlipperySlope]

For some reason, the average person on here thinks btc has to either go to the moon or crash into the ground. I guess they don't realize that each time btc explodes upwards, the likelihood of a similar rise becomes less and less. Anybody who casts doubt on another meteoric rise is shunned and attacked. Greed is a great motivator, some of these people think that btc is the greatest thing to grace their lives.

I, for one, think that Bitcoin is the greatest financial thing to grace my life.

[Ibian]

For some reason, the average person on here thinks btc has to either go to the moon or crash into the ground. I guess they don't realize that each time btc explodes upwards, the likelihood of a similar rise becomes less and less. Anybody who casts doubt on another meteoric rise is shunned and attacked. Greed is a great motivator, some of these people think that btc is the greatest thing to grace their lives.

It's going to at least $100k within a handful of years. Fundamentals dictate it. Up to you what you do with that.

[Peter R]

For some reason, the average person on here thinks btc has to either go to the moon or crash into the ground. I guess they don't realize that each time btc explodes upwards, the likelihood of a similar rise becomes less and less. Anybody who casts doubt on another meteoric rise is shunned and attacked. Greed is a great motivator, some of these people think that btc is the greatest thing to grace their lives.

I would agree with this statement if it was clear that bitcoin adoption was near saturation, but this is not the case.  Since this is not the case, could it not be argued equally well that similar growth spurts are in fact more likely as similar cycles of greed and fear play out across larger and larger swaths of society?  I am not necessarily making this argument, but I see it as no less valid than yours.  

The other thing that hit me recently was this:

Imagine that tomorrow society somehow learns that bitcoin will no longer increase in value.  But they also learn that it will no longer decrease in value.  1 BTC will forever purchase the same basket of goods.   Would you store more or less of your wealth in bitcoin?  What would non-bitcoin users do?  It seems to me that the answer is "store more wealth in bitcoin" due to the freedom that bitcoin as a store of value provides.  But this would of course increase demand for bitcoin, which would necessarily increase the price since the supply is fixed.  In other words, it seems to me that the only reason the price of bitcoin is not already much higher is that society believes the price could also be much lower.  

Bitcoin really messes with my mind lol.

[master-P]

It's going to at least $100k within a handful of years. Fundamentals dictate it. Up to you what you do with that.

The fundamentals dictate what btc is as a protocol and currency. They don't guarantee that btc will be worth over $100k in a few years.

[TERA]

I think people have an inflated view of bitcoin's fundamentals. Just because it theoretically COULD serve as mainstream currency (if it doesn't break) doesn't mean that it WILL.

[Ibian]

It's going to at least $100k within a handful of years. Fundamentals dictate it. Up to you what you do with that.

The fundamentals dictate what btc is as a protocol and currency. They don't guarantee that btc will be worth over $100k in a few years.

Yes, they do. They guarantee exactly that. Supply and demand is such a simple concept on paper but so very difficult for most people to understand.

[Ibian]

I think people have an inflated view of bitcoin's fundamentals. Just because it theoretically COULD serve as mainstream currency (if it doesn't break) doesn't mean that it WILL.

That's not even necessary.

[Dr.Zaius]

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

[Paashaas]

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

You are so wrong, we haven't seen anything yet from Bitcoin.

[sidhujag]

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

Sorry heard that too many times.. You must be new.. oops you are. Maybe writeup an essay with your points and we will refer to it as how NOT to invest our money in hindsight.

It will keep rising with network affect until a momn pop coin comed out that solves any probs btc has that its codebase cant fix. Chances are low since people are more trusting of technology without knowing it as ever. Noone will care about bitcoin v2 if they dont need it. Right
now top 1% has been too greedy so people see the need to switch away from fiat aswell as the instant tx without fees and traceability that allows for an order of magnitude in innovation that may fuel our next knowledge bubble.

[Peter R]

Bitcoin 100k is impossible.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes.

Both the bitcoin market cap and user base have been increasing exponentially over the last four years:

[zimmah]

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

You can make your own physical currency as well, just smelt some copper and other cheap metals and mint it in a nice coin that does not already exists. But that doesn't mean your coin will gain any use, nor will it compete with the dollar.

Just like Altcoins will not gain traction and they will not undermine bitcoin.

Also  we are right on the long term trend line. It has been stagnant for months before. It's just the calm before the storm.

[romneymoney]

absolute statements like
"It will never reach $x"
or
"It will be $2 by $date"
or
"It's guaranteed to hit $y"
mark you as an overconfident speculator

[Ibian]

Or, in the last case, as one who understands elementary economics.

[kooke]

absolute statements like
"It will never reach $x"
or
"It will be $2 by $date"
or
"It's guaranteed to hit $y"
mark you as an overconfident speculator

BTC will never reach $1 billion per coin. Am I an over-confident speculator? 

Btw, creating a physical currency is not the same as an alt-coin. Most of the alts are fixed to btc, so when it goes up in value so do they and vice versa. I could create a physical coin, but it's not going to go up in value just because the USD does.

[g4c]

It should be realized that ALL speculation exists in a continuum of probablities in which the concepts of "never" and "always" do not exist.

For example where the USD to hyper inflate then it really would be possible for 1BTC to be 1 billion $.

I'm not saying this is very likely, but you must understand that it is a possibility, and everyone has a different call on the probability, which must be greater than 0% and less than 100%.

The correct terminology, as used by academics, would be terms like "highly unlikely" or "almost certainly".

[g4c]

Bitcoin 100k is impossible.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes.

Both the bitcoin market cap and user base have been increasing exponentially over the last four years:

Dr.Zaius... claiming empirical knowledge, but turning out to be just talking sh*t.  

@Peter R
Careful with that log scale, it infuriates many apes.

[iluvpie60]

Bitcoin 100k is impossible.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes.

Both the bitcoin market cap and user base have been increasing exponentially over the last four years:

Funny that you left out April. I added that in for you(badly added it in with Mspaint lol).

[Dafar]

which one OP? The red/blue pill or the green pill? bitcoin will only go as far as you want it to

[Deviant1]

Another "to the moon" rise is very probable, it's just a matter of when.

The traditional financial system is in complete shambles and fraud, corruption and manipulation run rampant. I forgot which economist said it but today's markets are basically "The Truman Show", a complete farce put on to placate the masses.

There are many events which could lead to another parabolic rise for Bitcoin. Fiat currency devaluations, confiscations, excessive taxation, hyperinflation, Russia or China taking over the reserve currency spot. The list goes on and on.

Bottom line - the chance of Bitcoin dropping under $400 for any lengthy period of time is small. The chance of Bitcoin retesting its all time high is huge!

[Wilhelm]

which one OP? The red/blue pill or the green pill? bitcoin will only go as far as you want it to

I hate the second chart you stole off of igorrr. It's not even a correct trendline  

I'll take the pill to stay in the fantasy land of bitcoin

[frienemy]

which one OP? The red/blue pill or the green pill? bitcoin will only go as far as you want it to

Take the blue pill and certain bodyparts will grow exponentially! Gosh!

[iluvpie60]

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

You can make your own physical currency as well, just smelt some copper and other cheap metals and mint it in a nice coin that does not already exists. But that doesn't mean your coin will gain any use, nor will it compete with the dollar.

Just like Altcoins will not gain traction and they will not undermine bitcoin.

Also  we are right on the long term trend line. It has been stagnant for months before. It's just the calm before the storm.

Actually you CANNOT make your own physical currency, direct violation of the law in the U.S. and you will go to jail for it. Google it.

[Ed4252]

In the g4c chart, can you tell me approximately what date that triangle ends?

[iluvpie60]

In the g4c chart, can you tell me approximately what date that triangle ends?

It ends tomorrow.

[btc-owl]

Shall we buy btc today?

[kehtolo]

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

You can make your own physical currency as well, just smelt some copper and other cheap metals and mint it in a nice coin that does not already exists. But that doesn't mean your coin will gain any use, nor will it compete with the dollar.

Just like Altcoins will not gain traction and they will not undermine bitcoin.

Also  we are right on the long term trend line. It has been stagnant for months before. It's just the calm before the storm.

Actually you CANNOT make your own physical currency, direct violation of the law in the U.S. and you will go to jail for it. Google it.

^^ Lives in US, assumes everyone else does. Your laws mean fuck all outside America, google it!

[bitcoinsrus]

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

You can make your own physical currency as well, just smelt some copper and other cheap metals and mint it in a nice coin that does not already exists. But that doesn't mean your coin will gain any use, nor will it compete with the dollar.

Just like Altcoins will not gain traction and they will not undermine bitcoin.

Also  we are right on the long term trend line. It has been stagnant for months before. It's just the calm before the storm.

Actually you CANNOT make your own physical currency, direct violation of the law in the U.S. and you will go to jail for it. Google it.

^^ Lives in US, assumes everyone else does. Your laws mean fuck all outside America, google it!

LOL

[JimboToronto]

Lives in US, assumes everyone else does. Your laws mean fuck all outside America, google it!

I love when people talk about The Government as if it meant something.

Even within an individual country various governments can be conflicting. Cannabis may be decriminalized in several US states but that doesn't mean that the feds can't charge people.

Governments are just a bunch of goofy politicians and civil servants. It's interpretation by the courts that really matters.

[g4c]

Lives in US, assumes everyone else does. Your laws mean fuck all outside America, google it!

I love when people talk about The Government as if it meant something.

Even within an individual country various governments can be conflicting. Cannabis may be decriminalized in several US states but that doesn't mean that the feds can't charge people.

Governments are just a bunch of goofy politicians and civil servants. It's interpretation by the courts that really matters.

For small time things ( like cannabis law ) you are right.

But for big things, like monetary policy, even national governments are only a subset of the complete organisation.

Governments have to follow the designated path for monetary policy, or else suffer the fate of JFK, he was shot shortly before announcing a move that would be to the detriment of the federal reserve bank, not a conspiracy theory, publicly available facts.

I assume many speak of "the government" as being the highest level of political organisation, but governments do answer to higher entities. Hence some speak of "the powers that be" or "the system" etc.

The FED has nothing to do with the US government really, it is a completely private commercial entity that charges the government ( via citizen taxation ) for its operation.

[g4c]

In the g4c chart, can you tell me approximately what date that triangle ends?

Back in march 31st I said June 1st ± 1 month:
https://bitcointalk.org/index.php?topic=548544.msg5993664#msg5993664

I still think we have a few weeks before lift off, a good chance it will continue to trend up until then.

[bitcoinsrus]

Lives in US, assumes everyone else does. Your laws mean fuck all outside America, google it!

I love when people talk about The Government as if it meant something.

Even within an individual country various governments can be conflicting. Cannabis may be decriminalized in several US states but that doesn't mean that the feds can't charge people.

Governments are just a bunch of goofy politicians and civil servants. It's interpretation by the courts that really matters.

For small time things ( like cannabis law ) you are right.

But for big things, like monetary policy, even national governments are only a subset of the complete organisation.

Governments have to follow the designated path for monetary policy, or else suffer the fate of JFK, he was shot shortly before announcing a move that would be to the detriment of the federal reserve bank, not a conspiracy theory, publicly available facts.

I assume many speak of "the government" as being the highest level of political organisation, but governments do answer to higher entities. Hence some speak of "the powers that be" or "the system" etc.

The FED has nothing to do with the US government really, it is a completely private commercial entity that charges the government ( via citizen taxation ) for its operation.

Can you provide a link to the public available facts thing you mentioned (or just tell me what to google)?

[ChrisML]

Wheres this cunt called fonzie?

Prob crying in his parents basement room due to the cause of shorting.

[ShameOnYou]

Wheres this cunt called fonzie?

Prob crying in his parents basement room due to the cause of shorting.

Wait for a little dip back under 500, I think he will be back in full force!! Honestly the guy kind of cracks me up.  Eyyyyyy

[g4c]

...fate of JFK, he was shot shortly before announcing a move that would be to the detriment of the federal reserve bank, not a conspiracy theory, publicly available facts...

Can you provide a link to the public available facts thing you mentioned (or just tell me what to google)?

http://en.wikipedia.org/wiki/Executive_Order_11110

Of course in that wikipedia article they say any relation to the assasination is a conspiracy, but just follow the yellow brick road (gold) to get to the truth.

[bitcoinsrus]

...fate of JFK, he was shot shortly before announcing a move that would be to the detriment of the federal reserve bank, not a conspiracy theory, publicly available facts...

Can you provide a link to the public available facts thing you mentioned (or just tell me what to google)?

http://en.wikipedia.org/wiki/Executive_Order_11110

Of course in that wikipedia article they say any relation to the assasination is a conspiracy, but just follow the yellow brick road (gold) to get to the truth.

Thanks, appreciated.

[g4c]

...fate of JFK, he was shot shortly before announcing a move that would be to the detriment of the federal reserve bank, not a conspiracy theory, publicly available facts...

Can you provide a link to the public available facts thing you mentioned (or just tell me what to google)?

http://en.wikipedia.org/wiki/Executive_Order_11110

Of course in that wikipedia article they say any relation to the assasination is a conspiracy, but just follow the yellow brick road (gold) to get to the truth.

Thanks, appreciated.

No worries, I was wrong, he actually signed off 11110 shortly before his death, the order remained on the books but subsequent administrations were never aligned to use it anyway, it enabled government to take over monetary issuance and policy during any time of emergency. 11110 was eventually removed by Reagan during a quiet "clean up" operation of old orders.

[greenlion]

Wheres this cunt called fonzie?

Prob crying in his parents basement room due to the cause of shorting.

Wait for a little dip back under 500, I think he will be back in full force!! Honestly the guy kind of cracks me up.  Eyyyyyy

He's too busy right now fomenting Bitstamp FUD to weigh in on this kind of stuff.

[Amph]

banks could control bitcoin in the future, they could offer security against fraud/thieves but in exchange you must deposit into their "wallet", the majority of the people in the world will follow this way, they are to lazy to secure their wallet themselves, they want everything ready to use and 100% secure

[iluvpie60]

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

You can make your own physical currency as well, just smelt some copper and other cheap metals and mint it in a nice coin that does not already exists. But that doesn't mean your coin will gain any use, nor will it compete with the dollar.

Just like Altcoins will not gain traction and they will not undermine bitcoin.

Also  we are right on the long term trend line. It has been stagnant for months before. It's just the calm before the storm.

Actually you CANNOT make your own physical currency, direct violation of the law in the U.S. and you will go to jail for it. Google it.

^^ Lives in US, assumes everyone else does. Your laws mean fuck all outside America, google it!

Go make a physical currency in another country then and let me know how it goes rofl.

[g4c]

banks could control bitcoin in the future, they could offer security against fraud/thieves but in exchange you must deposit into their "wallet", the majority of the people in the world will follow this way, they are to lazy to secure their wallet themselves, they want everything ready to use and 100% secure

Indeed, in fact that's how banking evolved historically;

Goldsmiths had a secure vault to hold their metal, villagers would pay a small fee to the goldsmith if he kept their modest holdings in his safe.

The goldsmith would issue a certificate with fine wax seal and signiature for proof of holdings.

After a while the goldsmiths realised that the villagers never all withdrew at once, so he began to use a small amount of their gold to finance traders in the form of loans, he collected some of the traders profits as interest on the loan.

But what about the villagers now, well they were happy as long as they could collect their gold with their certificates.

Trouble only happened if all villagers tried to withdraw at once only to find the safe a little short. After a few goldsmiths got killed, the goldsmiths started to cover each others asses, if a smith from one village had a mass withdrawal then the other smiths would cover it.

Then over the years the banking industry evolved to what it is now.

There's no reason that bitcoin won't become the same.

However we can rest easy knowing that the fiat game is not possible with Bitcoin. Luckily Bitcoin can progress no futher than a fractional reserve system (like Bretton Woods).

[BitchicksHusband]

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

You can make your own physical currency as well, just smelt some copper and other cheap metals and mint it in a nice coin that does not already exists. But that doesn't mean your coin will gain any use, nor will it compete with the dollar.

Just like Altcoins will not gain traction and they will not undermine bitcoin.

Also  we are right on the long term trend line. It has been stagnant for months before. It's just the calm before the storm.

Actually you CANNOT make your own physical currency, direct violation of the law in the U.S. and you will go to jail for it. Google it.

^^ Lives in US, assumes everyone else does. Your laws mean fuck all outside America, google it!

US laws are (unfortunately) enforced all over the world.  Google it!

Let me help you:

MEGA/Kim Dotcom
Gary McKinnon