Bitcoin craze dying down?

[Campsis]

429$ is really bad, it should be 600$ at least.

damn miners dump 3600 BTC a day (1.5M bucks). No wonder price drops

I think this is a good time to sell, because BTC might go back to 100-200$'s

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[ifyousmell]

429$ is really bad, it should be 600$ at least.

damn miners dump 3600 BTC a day (1.5M bucks). No wonder price drops

and more acceptance in bitcoin by merchants that straights away dumps them to market for fiat.
no wonder the price reflects it.

[BreadJoint]

429$ is really bad, it should be 600$ at least.

damn miners dump 3600 BTC a day (1.5M bucks). No wonder price drops

I think this is a good time to sell, because BTC might go back to 100-200$'s

I'm not talking about this particular time. Its just POW doesn't alow BTC to grow since bitcoin market bleeds for 1.5M bucks a day

[Campsis]

429$ is really bad, it should be 600$ at least.

damn miners dump 3600 BTC a day (1.5M bucks). No wonder price drops

I think this is a good time to sell, because BTC might go back to 100-200$'s

I'm not talking about this particular time. Its just POW doesn't alow BTC to grow since bitcoin market bleeds for 1.5M bucks a day

But why are they crashing the market, are they idiots.
Fuck it i'm not selling my btc unless it hits 900$

[crazyivan]

Well obviously there a lot of idiots who still sell and intentionally lose money. Guess this is the best way to weed out morons from serious investors.

[OrientA]

429$ is really bad, it should be 600$ at least.

damn miners dump 3600 BTC a day (1.5M bucks). No wonder price drops

I think this is a good time to sell, because BTC might go back to 100-200$'s

I'm not talking about this particular time. Its just POW doesn't alow BTC to grow since bitcoin market bleeds for 1.5M bucks a day

But why are they crashing the market, are they idiots.
Fuck it i'm not selling my btc unless it hits 900$

These miners have bill to pay, such as electricity, loan to buy the equipment. So they have to sell whatever the price.

[coinzcoinzcoinz]

Bitcoin is ancient technology. It is like the Napster of crypto. Innovation in the altcoin world will eventually kill Bitcoin, just like Kazaa, Audiogalaxy and BitTorrent killed Napster. Bitcoin is not moving forward at all from a technical perspective. People who think that adoption is everything are wrong. Innovation > adoption... eventually.

I give BitCoin a few more months, then we will see the likes of DarkCoin, PeerCoin, NextCoin and XCurrency take over.

[DannyHamilton]

- snip -
Innovation in the altcoin world will eventually kill Bitcoin,
- snip -
I give BitCoin a few more months, then we will see the likes of DarkCoin, PeerCoin, NextCoin and XCurrency take over.

None of which have any real innovation over bitcoin?

I agree that if any altcoin ever implements any real innovation that bitcoin does not adopt, it will become a threat to bitcoin.  However, I'm not yet aware of any real innovation in any fully implemented altcoins, and I'm not convinced that bitcoin will fail to adopt any real innovations.

[franky1]

anyone shouting that prices will drop to $70-$200, if they truly feel that bitcoins only has that value. then i know hundreds of people that will happily buy your coins for your quoted low price right now.

if you are not willing to sell for that low price. then shut up and realize that apart from whales dumping at a loss right now you and thousands of others obviously value your bitcoins at a higher price and will refuse to sell at such low prices.

so either sell low now or shut up and realize that you are part of the resistance point trying to keep prices up by not selling at a loss.

and to anyone thinking bitcoins are useless, hand them over as you obviously think they are meaningless and dont value your coin at any price.

with that said, do you skeptics now realize that bitcoins are not worth such little valuations as you have quoted?!?

[CoinHoarder]

- snip -
Innovation in the altcoin world will eventually kill Bitcoin,
- snip -
I give BitCoin a few more months, then we will see the likes of DarkCoin, PeerCoin, NextCoin and XCurrency take over.

None of which have any real innovation over bitcoin?

I agree that if any altcoin ever implements any real innovation that bitcoin does not adopt, it will become a threat to bitcoin.  However, I'm not yet aware of any real innovation in any fully implemented altcoins, and I'm not convinced that bitcoin will fail to adopt any real innovations.

I agree coinz's statement was comical regarding giving Bitcoin a few more months, but I agree with the rest of his statement.

Also, Denny... you are looking at Alt coins with rose shaded glasses if you don't see any innovation. Either that or you aren't looking at all. I bet you're going to say it's all gimmicks huh? Lol

That being said, I think Bitcoin is dying a slow death. The development is too stagnate and some alt coins are 100x better than Bitcoin. The network effect and infrastructure are the only thing keeping Bitcoin ahead, and that advantage will wear off soon. Bitcoiners and Bitcoin developers are too scared of change... they are set in their ways and many Alt coins are better already on a technical and feature set level. It will have several pumps before it kicks the can though.

[toinew]

stop feeding the miners and consider feeding the developer team.
if you want a good coin, stop thinking about its price, think about how it works

technically, bitcoin is a good coin, but still has some flaws.
for exemple: electricity consumption and limited transaction number

[OrientA]

stop feeding the miners and consider feeding the developer team.
if you want a good coin, stop thinking about its price, think about how it works

How do we stop feeding the miners?

[DannyHamilton]

Also, Danny... you are looking at Alt coins with rose shaded glasses if you don't see any innovation.

Example of an altcoin with real innovation and what that innovation is?

That being said, I think Bitcoin is dying a slow death.

And I see increased adoption.  I suppose time will tell which of us is correct.  Lets agree to return to this thread in 3 years and see which of us is wearing "rose colored glasses".  

The development is too stagnate

It is better to move slowly and carefully when you are protecting the wealth of millions than to rush into modifications without careful consideration that could destroy faith in the security and reliability.

and some alt coins are 100x better than Bitcoin.

An example of an altcoin that is 100x better and exactly what about it makes it 100x better?

[BreadJoint]

Also, Danny... you are looking at Alt coins with rose shaded glasses if you don't see any innovation.

Example of an altcoin with real innovation and what that innovation is?

That being said, I think Bitcoin is dying a slow death.

And I see increased adoption.  I suppose time will tell which of us is correct.  Lets agree to return to this thread in 3 years and see which of us is wearing "rose colored glasses".  

The development is too stagnate

It is better to move slowly and carefully when you are protecting the wealth of millions than to rush into modifications without careful consideration that could destroy faith in the security and reliability.

and some alt coins are 100x better than Bitcoin.

An example of an altcoin that is 100x better and exactly what about it makes it 100x better?

the true innovation is POS. Every altcoin has limited POW time after which POS starts. With POS you don't have to feed greedy miners, only coin holders can receive addtional coins for finding blocks. While it costs nothing to generate blocks through POS the interest rate may be much much lower then 25 coins per block. Reward per block many be 1000 times lower and people will still keep their wallets online and generate new blocks. And hold instead of dumping right away

[CoinHoarder]

Also, Danny... you are looking at Alt coins with rose shaded glasses if you don't see any innovation.

Example of an altcoin with real innovation and what that innovation is?

That being said, I think Bitcoin is dying a slow death.

And I see increased adoption.  I suppose time will tell which of us is correct.  Lets agree to return to this thread in 3 years and see which of us is wearing "rose colored glasses".  

The development is too stagnate

It is better to move slowly and carefully when you are protecting the wealth of millions than to rush into modifications without careful consideration that could destroy faith in the security and reliability.

and some alt coins are 100x better than Bitcoin.

An example of an altcoin that is 100x better and exactly what about it makes it 100x better?

Real innovation is coins like Bitshares, Nxt, Zerocoin, etc.. too many to list.

3 years? I said it still has a few pums in it. Which could take longer than 3 years, especially considering there may not even be a pump this year seeing as I though the market is so bearish.

Yea.. They are careful, too careful. These newer alt coins don't need to be as careful as Bitcoin. That is going to hold it back from improving upon itself. This is the same excuse (lol) Litecoin uses regarding making changes and they are worth a fraction of your market cap. It is not the extreme want to protect funds, but it is a mindset that nothing needs to be changed and everything is a gimmick or scam coin no matter how innovative.

Re 100x... Have you ever heard of an exaggeration? There are a lot of coins that are better though... More features, block times in the seconds, a snazzier wallet, doesn't waste a ton of electricity and processing power like Bitcoin, more anonymous, etc.... Bitcoin looks like a fossil when you take that all into account. Again, the network effect and infrastructure is the only thing propping Bitcoin up.

[Lauda]

the true innovation is POS. Every altcoin has limited POW time after which POS starts. With POS you don't have to feed greedy miners, only coin holders can receive addtional coins for finding blocks. While it costs nothing to generate blocks through POS the interest rate may be much much lower then 25 coins per block. Reward per block many be 1000 times lower and people will still keep their wallets online and generate new blocks. And hold instead of dumping right away

Your knowledge is lacking or non existent. Nothing about POS can be connected to the word innovation.
POS is actually bad. Do proper research around the forum.
Also miners not being able to dump =/= innovation. POS is only energy efficient, that's it.

Update: to post above:

Bitshares, Nxt, Zerocoin, etc.. too many to list.

No, no, not coded yet (?).

[DannyHamilton]

the true innovation is POS.

POS has been well established to be a reduction in security in exchange for a reduction in energy use as compared to POW.  Personally, when it comes to the protection of wealth, I feel that increased security is important.

Every altcoin has limited POW time after which POS starts.

Every altcoin?  I didn't think litecoin implemented POS?  When did that happen?

With POS you don't have to feed greedy miners, only coin holders can receive addtional coins for finding blocks.

So you trade feeding greedy miners for feeding greedy hoarders?  And in exchange you reduce your security model?  No thanks.

While it costs nothing to generate blocks through POS the interest rate may be much much lower then 25 coins per block.

Costs nothing to generate blocks, and therefore costs nothing to attack the network.

Reward per block many be 1000 times lower and people will still keep their wallets online and generate new blocks.

Lower reward is neither an improvement nor a deficiency.  It's just different.  There is nothing intrinsically "better" about receiving more (or less) units of a cryptocurrency as a block reward.

And hold instead of dumping right away

Those that need or want local fiat currency will dump right away regardless of the method that they receive it.

[CoinHoarder]

Bitshares, Nxt, Zerocoin, etc.. too many to list.

No, no, not coded yet (?).

Rose tinted glasses...

[kokojie]

429$ is really bad, it should be 600$ at least.

damn miners dump 3600 BTC a day (1.5M bucks). No wonder price drops

I think this is a good time to sell, because BTC might go back to 100-200$'s

I'm not talking about this particular time. Its just POW doesn't alow BTC to grow since bitcoin market bleeds for 1.5M bucks a day

This here, is the reason why Bitcoin price is dropping. Because without new inflow of capital, the $1.5M daily PoW expense will drop the price, perpetually. Only having a capital inflow greater than $1.5M per day, will stop the price drop. We have had big capital inflow last year, and price rose. Now the capital inflow stopped, and price is dropping.

This $1.5M daily PoW expense is unnecessary, since much of the coin supply has been distributed. Time to fade out PoW and embrace the energy efficient PoS system.

[Oldiesel]

Bitcoin is going to crash, big time.