Is Bitcoin fading away?

[prophette]

Observing for these months, my strongest feeling is that Bitcoin is fading away with no material object backup. Apart from the geeks, ordinary people who first know about Bitcoin always say "this matter is vague and insubstantial".

Geeks have confidence in crypto-algorithms but ordinary people don't.

So linking Bitcoin to gold may be a good idea.

[pedrog]

The main feature of bitcoin is being decentralized, turning it into e-gold would be killing it.

[minerpumpkin]

Observing for these months, my strongest feeling is that Bitcoin is fading away with no material object backup. Apart from the geeks, ordinary people who first know about Bitcoin always say "this matter is vague and insubstantial".

Geeks have confidence in crypto-algorithms but ordinary people don't.

So linking Bitcoin to gold may be a good idea.

No, it's actually gaining traction. But could you explain, how you would 'link' Bitcoin to Gold without making it centralized?
edit: centralized, of course

[Malin Keshar]

Yes, things are getting slower, even in this forum and in the exchanges, with lower volumes.

But there are things happening, like the Dell stuff, and things take some time to gain critical mass and boom, so I would wait some months before call for bitcoin fading away.

August usually is a slow month, anyway, by september/november more things happens.

[Meuh6879]

yep, sept/oct is a boum usually (in crash system, boooouuum  it's gone, the FIAT system !)

[btcbug]

I think it feels a bit that way because the price has not been doing anything spectacular. Also, people who were maybe thinking about Bitcoin are just getting lazy again and rationalizing to themselves how their money is safe in the bank. We just need some news of bank bail-outs, bail-ins, or some other trigger and it'll wake people up to Bitcoin again. 

[Minecache]

Bit coin is on a downward trend and has been for the last 8 months. We will be lucky to the heady heights of November 2013 again.

[franky1]

Observing for these months, my strongest feeling is that Bitcoin is fading away with no material object backup. Apart from the geeks, ordinary people who first know about Bitcoin always say "this matter is vague and insubstantial".

Geeks have confidence in crypto-algorithms but ordinary people don't.

So linking Bitcoin to gold may be a good idea.

material backing.. formally known as tangiable or intrinsic are 'hype' words of the commodities market.

i am truly sorry that you are only versed in the commodities market. but WE bitcoiners are in the ASSET market.

digital property such as music, intellectual property, art, movies. have no 'physical' backing. but all hold value. these are all assets.

i wil now leave you to learn the differences of assets and commodities

have a nice day

[gentlemand]

People en masse need educating and incentivising to give it proper consideration. Serious heavyweights are coming on board who will push exactly that.

I don't think there'll be any amazing action until more evidence of that approach emerges. This is an under the radar phase.

[Beliathon]

Observing for these months, my strongest feeling is that Bitcoin is fading away with no material object backup. Apart from the geeks, ordinary people who first know about Bitcoin always say "this matter is vague and insubstantial".

Geeks have confidence in crypto-algorithms but ordinary people don't.

[ixne]

I notice that the people complaining about Bitcoin "fading" have only been registered through the latest boom-and-bust cycle.  Having been through 3 of these, this lull after the hype is pretty much standard.  That said, I don't expect anything huge to happen until late 2015/2016 when the next block halving happens.  Right now, bitcoin inflation is around 10%, which is huge for any currency.  Keeping prices level at this point is somewhat surprising, especially considering that loads of bitcoin are currently being exchanged for fiat through huge mining enterprises and major retailers accepting bitcoin.

[bananaControl]

Observing for these months, my strongest feeling is that Bitcoin is fading away with no material object backup. Apart from the geeks, ordinary people who first know about Bitcoin always say "this matter is vague and insubstantial".

Geeks have confidence in crypto-algorithms but ordinary people don't.

So linking Bitcoin to gold may be a good idea.

No, and you should be ashamed of yourself. This is wrong on so many levels. Please go and do your homework.

[MegaHustlr]

Geeks have confidence in crypto-algorithms but ordinary people don't.

It's always geeks aka intelligent people with their fingers on the pulse of new technology that have confidence in new and pioneering things. See: The Internet.

[franky1]

bitcoin is not fading away. its just those moaning were hoping for a 2000% rise in 3 months. and now their getting bored waiting.. these people are not bitcoiners, they are fiat lovers waiting to get back to fiat.

they are not researching that the tax offices of multiple countries is declaring bitcoins a legal asset
they are not researching that US government has said its like gold
they are not researching that multiple international companies are accepting bitcoin
they are not researching that hundreds of thousands of smaller businesses are accepting bitcoin
they are not researching ......... the list goes on and on

they are just peeing their pants that bitcoin has dropped this month 10%.. yet from march onwards it has risen 50%..
now i see why the FIAT market asks its market traders to sit an exam. because sometimes proving you know something actually helps you use it properly.

[Yakamoto]

I'm going to have to say no it's not.

There has been big news recently, such as with Dell accepting Bitcoin as well as the Bitlicenses.

Yeah, it's faded away from the mainstream media, and that's because the news is encouraging people to use Bitcoin as opposed to discouraging them, as they thought it would at first. So Bitcoin will be very hush-hush on the news from now on, unless something monumental happens.

[kwukduck]

Yes bitcoin is gaining traction.. That's why the price keeps crashing like a burning airplane without wings or engine...

[franky1]

Yes bitcoin is gaining traction.. That's why the price keeps crashing like a burning airplane without wings or engine...

keeps crashing?

ok its july now
july 2009 - $0.002
july 2010 - $0.08
july 2011 - $6
july 2012 - $6
july 2013 - $120
july 2014 - $590

will th fiat lovers please stop watching the prices every 10 minutes and stop treating every movement as a need to scream and bitch on the forums..

have patience!!

[BitCoinDream]

Observing for these months, my strongest feeling is that Bitcoin is fading away with no material object backup. Apart from the geeks, ordinary people who first know about Bitcoin always say "this matter is vague and insubstantial".

Geeks have confidence in crypto-algorithms but ordinary people don't.

So linking Bitcoin to gold may be a good idea.

Oh really ? Bitcoin does not need to be baked by the yellow metal. It is backed by a strong community that is growing every day. And FIAT exchange rate of bitcoin has nothing to do with bitcoin's true value. That is just an index for traders.

[doggieTattoo]

Bit coin is on a downward trend and has been for the last 8 months. We will be lucky to the heady heights of November 2013 again.

I don't think this is true. We are just recovering from the last bubble.

[moriartybitcoin]

Bitcoin is hardly fading ...

More and more companies are accepting Bitcoin. The main problem is that existing Bitcoiners are HOARDING and mainstream adoption by consumers is lagging. But that will come around ...