Bitcoin has reached the tipping point

[devphp]

But it's not the tipping point after which it grows exponentially, no. It's the tipping point where people start fleeing it en masse to other technologies and undervalued cryptos. After all, why would you buy Bitcoin if you can buy something cheaper, which does the same, or even better - if you can buy something cheaper which does the same and then a few other things. Bitcoin was the bootstrapping crypto, now is the time for other technologies to take its place. It won't happen overnight, but the process has begun.

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[amytheplanarshift]

Agreed. I also think the tipping point has been reached or at least will be reached in the very near future. A lot of people will most certainly call me crazy, but Bitcoin is dead to me.

[digitalindustry]

https://bitcointalk.org/index.php?topic=760879.0

[rockethead]

Agreed. I also think the tipping point has been reached or at least will be reached in the very near future. A lot of people will most certainly call me crazy, but Bitcoin is dead to me.

I said that quite a while ago when Bitcoin was near high in November last year and I was ridiculed and laughed at by some of these people in a meetup. Perhaps their minds are too simple.

Bitcoin will see its last days. Maybe not tomorrow, but definitely before the end of the decade. The irony is, everyone is talking about bitcoin! We have banks, we have businesses, we have giant companies wanting to jump in the bandwagon and we have miners putting in 10s of millions of serious money into mining these coins. And no one can see the obvious storm that is looming ahead. Are they blind?

[digitalindustry]

Agreed. I also think the tipping point has been reached or at least will be reached in the very near future. A lot of people will most certainly call me crazy, but Bitcoin is dead to me.

I said that quite a while ago when Bitcoin was near high in November last year and I was ridiculed and laughed at by some of these people in a meetup. Perhaps their minds are too simple.

Bitcoin will see its last days. Maybe not tomorrow, but definitely before the end of the decade. The irony is, everyone is talking about bitcoin! We have banks, we have businesses, we have giant companies wanting to jump in the bandwagon and we have miners putting in 10s of millions of serious money into mining these coins. And no one can see the obvious storm that is looming ahead. Are they blind?

I don't think Banks are talking about Bitcoin, they tried to push "protocols" Banks can not accept a decentralized ledger.

I do agree that a lot of capital is going into mining, that's amusing, but as I said China will win that race (even though they started from half way, post first halving basically)

I fully well expect that this recent Difficulty rise put a lot of original monopolists way back in % share.



Essentially now Bitcoin is their "plaything" (which is the way it should be), now if there is a ramp it will be dumped on.

[JimminyCricket]

BTC is just King Alt.

People are gonna be so depressed when BTC continues its downward slope

                                       

LOL

[Winner]

I think that bitcoin might get to $250, might drop even below that.

I could be wrong however...

[chanz]

BTC is just King Alt.

People are gonna be so depressed when BTC continues its downward slope

They already are!

I think that bitcoin might get to $250, might drop even below that.

I could be wrong however...

Least we'll see is 450 i think, it shouldn't drop any further than that imo but who knows.

[TYDIRocks]

You can't buy even a fraction of what you can with Bitcoin. You are just thinking in terms of specifications, most of which don't matter.

[rockethead]

In my opinion, an altcoin should only be used as a fuel to oil the machinery of a decentralized ecosystem. It should not be a business in itself and mining should not be an "all important" role.

Mining should run in the background of a wallet as part of the block chain ledger keeping and should not take too much RAM or energy.

What is most important is that the ecosystem will find its way into bringing real world needs into it.

Anyway, that is Crypto 2.0 and beyond.

[waldocarter]

I don't see Bitcoin going away any time soon. It's the only crypto currently widely accepted in real businesses where you can buy real tangible stuff other than mining rigs/contracts (with the only purpose of just generating more of the same currency you just spent).+

It will take a lot of time and trust from businesses to switch or accept a different crypto. Just look at this sub, full of forks/relaunches/fails because everyone and their sisters want to have their own cryptocoin to milk the hype train.

I'm a firm believer that altcoins are just experiments that serve as a proof of concept for things that can be integrated into the Bitcoin protocol, and some surely will do in the not-so-far-ahead future.

[devphp]

BTC is just King Alt.

People are gonna be so depressed when BTC continues its downward slope

                                       

LOL

You will be sad only if you don't invest your Bitcoins into advancing technologies. Bitcoins act as seed capital, Bitcoins fuel and propel all the other crypto 2.0 technologies, decentralized companies, etc. It makes no sense sitting on Bitcoins. Bitcoins can potentially give you 1-10x returns over the next 5 years, keeping with inflation or not. But crypto 2.0 technologies and decentralized companies stock can potentially give you 10-1000x returns over the same period.

I don't see Bitcoin going away any time soon. It's the only crypto currently widely accepted in real businesses where you can buy real tangible stuff other than mining rigs/contracts (with the only purpose of just generating more of the same currency you just spent).+

What you don't understand is real businesses have operating costs and they don't care about whether it's Bitcoins or some other crypto. Their operating costs are paid for in fiat, they have to pay their shareholders in fiat, that's why they immediately exchange most of their cryptos back to fiat through payment processors. Payment processors have no problem implementing several cryptos for convenience of the merchants' customers.

The only companies that don't immediately exchange (everything) to fiat is companies that were founded with crypto capital in the first place, and those will operate on those crypto 2.0 technologies. That's why it doesn't make sense to just sit on Bitcoins instead of investing them wisely.

[Carlture]

I think that bitcoin might get to $250, might drop even below that.

I could be wrong however...

i don't think so, it will be rise to it should be.

[digitalindustry]

I don't see Bitcoin going away any time soon.

Why not?

if you know anything you know it is fundamentally flawed which has been all but admitted now by the lead developers.

It's the only crypto currently widely accepted in real businesses where you can buy real tangible stuff other than mining rigs/contracts (with the only purpose of just generating more of the same currency you just spent).+

It will take a lot of time and trust from businesses to switch or accept a different crypto. Just look at this sub, full of forks/relaunches/fails because everyone and their sisters want to have their own cryptocoin to milk the hype train.

Most of the "Businesses" your are talking about will be bankrupt in the next 10 years as their business models are outdated an unsustainable, i can give many examples.

so its not so much about what the few "type writer" businesses think now, but its about a whole new crop of business that will pop up, the West can choose to be a police state or it can choose to innovate, its that's simple.

it is really just that simple.

I'm a firm believer that altcoins are just experiments that serve as a proof of concept for things that can be integrated into the Bitcoin protocol, and some surely will do in the not-so-far-ahead future.

there is absolutely no evidence to suggest one shred of what you are spewing here is real, in fact "Bitcoin" the brand took no action to remedy the monopoly issues and has taken no action even on the most simply innovations.

so perhaps it will innovate but it will be then at "market price" making it a good "brand" but all the first movers of the industry will at that time be "brands"

so you see us humans are doing that little thing where we look at the 15minute chart and get excited about 3 months ahead.

[asdlolciterquit]

But it's not the tipping point after which it grows exponentially, no. It's the tipping point where people start fleeing it en masse to other technologies and undervalued cryptos. After all, why would you buy Bitcoin if you can buy something cheaper, which does the same, or even better - if you can buy something cheaper which does the same and then a few other things. Bitcoin was the bootstrapping crypto, now is the time for other technologies to take its place. It won't happen overnight, but the process has begun.

uhm...i disagree.

How can you know that? have you seen some other altcoin with a huge rise of volume in the last 2 months? And this or these rise are comparable with the decrease of btc's volume?

Only if you can prove this, i can agree with you.

[Whitehouse]

But it's not the tipping point after which it grows exponentially, no. It's the tipping point where people start fleeing it en masse to other technologies and undervalued cryptos. After all, why would you buy Bitcoin if you can buy something cheaper, which does the same, or even better - if you can buy something cheaper which does the same and then a few other things. Bitcoin was the bootstrapping crypto, now is the time for other technologies to take its place. It won't happen overnight, but the process has begun.

Why would you buy something else when it offers nothing at all? There's a reason why most alts are worth very little because there's just no demand for them. In fact, the only people who seem to want them are those who think they might get rich off them like they missed the chnace with bitcoin.

[LTEX]

three letters: NLG

[asdlolciterquit]

three letters: NLG

what is this?

[devphp]

But it's not the tipping point after which it grows exponentially, no. It's the tipping point where people start fleeing it en masse to other technologies and undervalued cryptos. After all, why would you buy Bitcoin if you can buy something cheaper, which does the same, or even better - if you can buy something cheaper which does the same and then a few other things. Bitcoin was the bootstrapping crypto, now is the time for other technologies to take its place. It won't happen overnight, but the process has begun.

uhm...i disagree.

How can you know that? have you seen some other altcoin with a huge rise of volume in the last 2 months? And this or these rise are comparable with the decrease of btc's volume?

Only if you can prove this, i can agree with you.

It will take a few years to unfold, not months. The first crypto 2.0 projects began earlier this year, and are not even 50% developed yet. The process will take years, by the end of 2015 the crypto scene will be completely different from what we saw a few months ago. You can already see the future if you follow those projects.

Why would you buy something else when it offers nothing at all? There's a reason why most alts are worth very little because there's just no demand for them. In fact, the only people who seem to want them are those who think they might get rich off them like they missed the chnace with bitcoin.

If you don't see the value, you don't see the value. If it offers you nothing, don't buy it. People see value in different things, you know, there is no unanimous opinion here. For example, I don't see much value in Bitcoins, I spend them away quickly to buy undervalued crypto technologies. Your vision of value is different. To each his own.

[YOLOMAN]

I think bitcoin will worth 1200$ within 1 month.