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Author Topic: Bitcoin craze dying down?  (Read 14544 times)
QuestionAuthority
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September 23, 2014, 12:25:16 AM
 #141

this time last year bitcoin went from $90 down to $70 and people were shouting that bitcoin craze was dying out.. then as october approached it went above $100, and then up up up.

you want to know why september-october is so important..

think about these three countries
thailand, costa rica, america.. then click this link
http://en.wikipedia.org/wiki/Fiscal_year#Chart_of_various_fiscal_years

if your old enough to actually bother paying tax, then you will know

So this time last year the low was $70.
This year the low is $400
What will the low be at this time next year?

I'm guessing two thousand plus or minus ten percent.
This is true based on prior experience. However past performance does not guarantee future results. Also eventually the "law of large numbers" will need to kick in to slow the rate at which bitcoin can continue to increase in value

It may take about 50 years for the law of large numbers to kick in. Take credit card adoption as an example. Western Union began issuing charge cards to its frequent customers in 1921. Mass adoption happened about the time Visa replaced BankAmericard. BankAmericard became the first successful recognizably modern credit card with overseas affiliates, in 1977 changed its name to Visa.

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September 23, 2014, 03:38:41 AM
 #142

its just small downside..

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September 23, 2014, 03:48:03 AM
 #143

Is it just me or does it seem like the bitcoin "craze" has died down a lot? Not as much people active in talking about it, and especially in other forums for altcoins, there used to be a lot of buzz and excitement but not any more it seems Sad

Don`t listen to the idiots who just call it a bubble, they are stupid and base their response on hope and not common logic. I don't see any reason for that to happen. It seems highly unlikely to me. Course on the http://mining-profit.com/ suits me perfectly.

I have to agree, 2 years ago  maybe ...MAYBE you could call this a bubble situation, but a lot has happened in 2 years. I will gladly eat my word if we seem to be wrong (TRUST ME) but as i research it seems these "bubbles" seem to be nothing more than coincidences or blatant pumps from people who have the ability to move the market. no one knows when these guys will stop pumping this market. Hope is not something miners can afford to base thier investment on, hope is useless, we desire results, and actions speak louder than words. Unfortunately the pricing actions right now are speaking volumes and they are screaming fall fall fall.

Trust and believe I dont care which direction it goes, I have a hopefull backup plan, but I can see if someone doesnt step up and do something positive for BTC demand probelem those bubbles you guys are used to are gonna pop right in your face.

I am just saying what goes up must come down. But things that go down are not guaranteed to go back up Smiley

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September 23, 2014, 09:38:09 PM
 #144

I wonder if Scott Ellison thinks the Bitcoin craze is dying down?

https://www.paypal-community.com/t5/PayPal-Forward/PayPal-and-Virtual-Currency/ba-p/828230


Eh, he and PayPal/Ebay are small potatoes, what do they know...

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September 24, 2014, 12:34:36 AM
 #145

this time last year bitcoin went from $90 down to $70 and people were shouting that bitcoin craze was dying out.. then as october approached it went above $100, and then up up up.

you want to know why september-october is so important..

think about these three countries
thailand, costa rica, america.. then click this link
http://en.wikipedia.org/wiki/Fiscal_year#Chart_of_various_fiscal_years

if your old enough to actually bother paying tax, then you will know

So this time last year the low was $70.
This year the low is $400
What will the low be at this time next year?

I'm guessing two thousand plus or minus ten percent.
This is true based on prior experience. However past performance does not guarantee future results. Also eventually the "law of large numbers" will need to kick in to slow the rate at which bitcoin can continue to increase in value

It may take about 50 years for the law of large numbers to kick in. Take credit card adoption as an example. Western Union began issuing charge cards to its frequent customers in 1921. Mass adoption happened about the time Visa replaced BankAmericard. BankAmericard became the first successful recognizably modern credit card with overseas affiliates, in 1977 changed its name to Visa.
I was actually talking about the law of large numbers regarding future returns on the price of bitcoin. The market cap of bitcoin currently stands at ~$6 billion. The GDP of the world is ~$85 trillion (depending on how you measure this). You were able to make 100x your money (based in fiat) if you bought at the low price and sold bitcoin at the high price during 2013. If we were to see this happen again then the market cap would go to ~$600 billion, if it were to happen a 2nd time then the market cap would be approaching the world GDP. My overall point is that extremely large returns are not able to be sustained over long periods of time.
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September 24, 2014, 01:10:54 AM
 #146

Im crazy about bitcoin since over a year. Love it, spreading word about it, im happy!
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September 24, 2014, 04:23:01 AM
 #147

I think this is happening due to continuous fall of price and high difficulty on mining.
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September 24, 2014, 04:55:24 AM
 #148

I wonder if Scott Ellison thinks the Bitcoin craze is dying down?

https://www.paypal-community.com/t5/PayPal-Forward/PayPal-and-Virtual-Currency/ba-p/828230


Eh, he and PayPal/Ebay are small potatoes, what do they know...

yea if you thing Ebay/Paypal are going to help the value of bitcoin your crazy, they will dump those coins as fast as they get them. Plus the decision is not final yet, dont pump useless news.

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September 24, 2014, 05:30:19 AM
 #149

this time last year bitcoin went from $90 down to $70 and people were shouting that bitcoin craze was dying out.. then as october approached it went above $100, and then up up up.

you want to know why september-october is so important..

think about these three countries
thailand, costa rica, america.. then click this link
http://en.wikipedia.org/wiki/Fiscal_year#Chart_of_various_fiscal_years

if your old enough to actually bother paying tax, then you will know

So this time last year the low was $70.
This year the low is $400
What will the low be at this time next year?

I'm guessing two thousand plus or minus ten percent.
This is true based on prior experience. However past performance does not guarantee future results. Also eventually the "law of large numbers" will need to kick in to slow the rate at which bitcoin can continue to increase in value

It may take about 50 years for the law of large numbers to kick in. Take credit card adoption as an example. Western Union began issuing charge cards to its frequent customers in 1921. Mass adoption happened about the time Visa replaced BankAmericard. BankAmericard became the first successful recognizably modern credit card with overseas affiliates, in 1977 changed its name to Visa.
I was actually talking about the law of large numbers regarding future returns on the price of bitcoin. The market cap of bitcoin currently stands at ~$6 billion. The GDP of the world is ~$85 trillion (depending on how you measure this). You were able to make 100x your money (based in fiat) if you bought at the low price and sold bitcoin at the high price during 2013. If we were to see this happen again then the market cap would go to ~$600 billion, if it were to happen a 2nd time then the market cap would be approaching the world GDP. My overall point is that extremely large returns are not able to be sustained over long periods of time.

Ah, I see. I sure hope you're right. I'd love to be rich. I just see it as taking a very long time.

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September 24, 2014, 05:44:44 AM
 #150

all you people talking about bitcoins and bubbles and how theres a bubble each year and blah blah blah. ill leave you with this

http://www.youtube.com/watch?v=YZwbTKYhvIY

if people cannot 100% describe bitcoin clearly as a bubble, THEN ITS NOT A BUBBLE

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September 24, 2014, 07:33:35 AM
 #151

all you people talking about bitcoins and bubbles and how theres a bubble each year and blah blah blah. ill leave you with this

http://www.youtube.com/watch?v=YZwbTKYhvIY

if people cannot 100% describe bitcoin clearly as a bubble, THEN ITS NOT A BUBBLE

BTC is not a bubble. It still has potential to grow.
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September 24, 2014, 12:50:45 PM
 #152

I wonder if Scott Ellison thinks the Bitcoin craze is dying down?

https://www.paypal-community.com/t5/PayPal-Forward/PayPal-and-Virtual-Currency/ba-p/828230


Eh, he and PayPal/Ebay are small potatoes, what do they know...

yea if you thing Ebay/Paypal are going to help the value of bitcoin your crazy, they will dump those coins as fast as they get them. Plus the decision is not final yet, dont pump useless news.

Nah, you're right. Ebay/Paypal are insignificant companies in the grand scheme of things.  They won't impact Bitcoin one way or another.


Rank   Company   Industry   Revenue   FY   Employees   Market cap   Headquarter   Refs
1   United States   Amazon   E-commerce   $74.45   2014   117,300   $160.49   Seattle, WA, USA   
2   United States   Google   Search   $59.82   2014   47,756   $380.64   Mountain View, CA, USA   
3   United States   eBay   E-commerce   $16.05   2014   31,500   $68.51   San Jose, CA, USA   
4   China   Tencent   Social   $9.91   2014   25,517   $65.01   Shenzhen, China   
5   United States   Facebook   Social   $7.87   2014   6,337   $160.03   Menlo Park, CA, USA   
6   Japan   Rakuten   E-commerce   $5.56   2014   10,867   $13.06   Tokyo, Japan   
7   United States   Priceline.com   Travel   $5.26   2014   8,000   $35.58   Norwalk, CT, USA   
8   United States   Yahoo   Web portal   $4.68   2014   12,200   $35.58   Sunnyvale, CA, USA   [
9   China   Baidu   Search   $3.54   2014   21,800   $29.75   Beijing, China   
10   United States   Salesforce.com   Cloud computing   $3.05   2014   12,000   $25.85   San Francisco, CA, USA   


Hmm...3rd largest Internet company with over $16 Billion in revenue and worth $65 Billion total market cap.  Are you sure this is useless news?

From Paypal's website:

Quote
Today we are announcing PayPal’s next step in helping merchants accept Bitcoin payments. PayPal has entered into agreements with leading Bitcoin payment processors BitPay, Coinbase and GoCoin. Starting today, these agreements let PayPal digital goods merchants accept Bitcoin with a simple integration through the PayPal Payments Hub. This will be available to merchants in North America first.

Hmm...entering agreements and posting said agreements sounds pretty official to me.  Are you sure it's not final yet?

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September 24, 2014, 01:57:32 PM
 #153

all you people talking about bitcoins and bubbles and how theres a bubble each year and blah blah blah. ill leave you with this

http://www.youtube.com/watch?v=YZwbTKYhvIY

if people cannot 100% describe bitcoin clearly as a bubble, THEN ITS NOT A BUBBLE

BTC is not a bubble. It still has potential to grow.

It shares many aspects of bubble but isn't really one. Maybe it can be a new kind of bubble that grows and collapses several times before finally popping. I think it needs to pop to be a proper bubble, but hopefully that wont happen.
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September 24, 2014, 02:00:21 PM
 #154

Not true.. Its just starting. I mean the craze, its just starting.. It will keep getting interesting and interesting.
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September 24, 2014, 02:02:01 PM
 #155

Threads like this are silly. Just because the price hasn't been shooting skyward like a rocket doesnt mean that it's dying. I think bitcoin is still only beginning and is still trying to find it's feet.

1CSivJuh39gypYgtSURJ19BM9U5m1ycaM2
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September 24, 2014, 02:06:54 PM
 #156

Threads like this are silly. Just because the price hasn't been shooting skyward like a rocket doesnt mean that it's dying. I think bitcoin is still only beginning and is still trying to find it's feet.

I agree with you.

+1.

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September 24, 2014, 02:12:02 PM
 #157

The end of bitcoin is coming Cheesy
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September 24, 2014, 03:08:03 PM
 #158

The end of bitcoin is coming Cheesy
Whats the point of messages like this? The end of Bitcoin will be when it hits 0 and no fucking using it. If massive adoption happens and Bitcoin is like 1 dollar.. so what? What matters is the use of it, not its speculative value. Even tho, mass adoption is linked with higher price anyway.

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September 24, 2014, 03:23:35 PM
 #159

The funny thing is that there has NEVER been so much adoption of bitcoin or more planning for the future of bitcoin. I don't pay attention to the price, the indicator that matters is how pervasive it's use has become. These are the best days I have seen since 2011.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin in ICELAND - https://bitcointalk.org/index.php?topic=1610684
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September 25, 2014, 03:40:18 AM
 #160

compare with the beginning, it really gying down, but it won't stop.
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