Bitcoin craze dying down?

[QuestionAuthority]

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.

I agree that a lot of businesses are now accepting Bitcoin. I still don't see a huge leap in average consumers (not miners) using Bitcoin. In fact, the market cap is actually decreasing from its Dec 2013 high and it doesn't matter. I don't care if every business in the world takes it if few people are using it. There's really no down side for a business to take any payment system. Price is irrelevant, adding more businesses at this point is irrelevant, at this juncture adding daily users is important.

[1713981993]

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[jbreher]

adding more businesses at this point is irrelevant, at this juncture adding daily users is important.

Chicken vs. egg. For five years, we had advancing adoption by daily users, no businesses of which to speak. Chicken. Now we have a wave of business adoption, with little end user number increase. Egg. Next wave - users taking advantage of the new places and ways to use Bitcoin. The chickens coming home to roost.

(How long can chickens and eggs leapfrog each other before they both break out into a mad sprint?) {not to mix my metaphors or anything}

[franky1]

adding more businesses at this point is irrelevant, at this juncture adding daily users is important.

Chicken vs. egg. For five years, we had advancing adoption by daily users, no businesses of which to speak. Chicken. Now we have a wave of business adoption, with little end user number increase. Egg. Next wave - users taking advantage of the new places and ways to use Bitcoin. The chickens coming home to roost.

(How long can chickens and eggs leapfrog each other before they both break out into a mad sprint?) {not to mix my metaphors or anything}

the chicken and egg has already been solved.. a mutated duck pushd out an egg and the result is what we now call a chicken. the egg came first..

but that being said.. USER adoption has not shrink. it has grown, the only different is that people are not linking bank accouts to risky untrustable exchanges that now also have AMLKYC restrictions to limit investment size, whilst also creating headaches..
with that said bitcoin user adoption has increased ALOT more but you wont see it on exchanges, as its all happening in private.

these crappy exchangs programmed in PHP would and should die out. and people need to find different bitcoin value measure compared to the current range of public exchanges.

[keithers]

I think it is kind of inaccurate because most people are basing their gauge of the "bitcoin craze" directly on the price per BTC.

If it were based on how many people are starting to get paid in BTC, or how many people are leaving high power positions to go to BTC startups,   or how much VC money is going into developing BTC companies, or companies built on top of BTC, then the 'bitcoin craze' as you call it is clearly at an all time high.

If you are solely basing it on price, which most people are, then I guess you can make the statement that the btc craze is temporarily dying down...

[AnswerQuestion]

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.

I agree that a lot of businesses are now accepting Bitcoin. I still don't see a huge leap in average consumers (not miners) using Bitcoin. In fact, the market cap is actually decreasing from its Dec 2013 high and it doesn't matter. I don't care if every business in the world takes it if few people are using it. There's really no down side for a business to take any payment system. Price is irrelevant, adding more businesses at this point is irrelevant, at this juncture adding daily users is important.

As it stands now, businesses are accepting bitcoin and pocketing the entire cost savings they get from receiving a payment in bitcoin verses a payment via a credit card. They are trying to get people to spend their bitcoin that they would otherwise not spend (which also means they are trying to get people to spend money they would not otherwise spend). If more merchants were to split some of the cost savings with customers (eg offer a discount) then consumer adoption would rise as people are always looking for a good deal

[TrailingComet]

Good, the craze was never good for btc long term
Maybe now the community can finally focus on making substantive progress with regulators and necessary protocol tweaks to foster sustainable adoption

[OrientA]

Good, the craze was never good for btc long term
Maybe now the community can finally focus on making substantive progress with regulators and necessary protocol tweaks to foster sustainable adoption

The recent price drop could be related to regulatory uncertainty.

[Ruthful]

I think it is kind of inaccurate because most people are basing their gauge of the "bitcoin craze" directly on the price per BTC.

If it were based on how many people are starting to get paid in BTC, or how many people are leaving high power positions to go to BTC startups,   or how much VC money is going into developing BTC companies, or companies built on top of BTC, then the 'bitcoin craze' as you call it is clearly at an all time high.

If you are solely basing it on price, which most people are, then I guess you can make the statement that the btc craze is temporarily dying down...

Perhaps instead of craze , what we should be developing/focussing is rationality.People are beginning to grasp the limitation of bitcoin and building around it.Many people like to compare bitcoin to the internet.Lets not forget that at the beginning the hype(promoted by overzealousness and naivety)  about the internet was tremendous.How the internet was going to end wars, makes government and borders obsolete and promotes ,  of freedom(seem familiar doesn't it?).The dotcom bubble was one  famous example of this culmination .We are now standing in the age of internet maturity and how the hype have yet to match reality(or if it ever will).If the bitcoin follows this analogy,its trajectory might follow the same pattern.

That is unless bitcoin went the way of the PDA or the pager ,that is.

[jjacob]

I think it is kind of inaccurate because most people are basing their gauge of the "bitcoin craze" directly on the price per BTC.

If it were based on how many people are starting to get paid in BTC, or how many people are leaving high power positions to go to BTC startups,   or how much VC money is going into developing BTC companies, or companies built on top of BTC, then the 'bitcoin craze' as you call it is clearly at an all time high.

If you are solely basing it on price, which most people are, then I guess you can make the statement that the btc craze is temporarily dying down...

Perhaps instead of craze , what we should be developing/focussing is rationality.People are beginning to grasp the limitation of bitcoin and building around it.Many people like to compare bitcoin to the internet.Lets not forget that at the beginning the hype(promoted by overzealousness and naivety)  about the internet was tremendous.How the internet was going to end wars, makes government and borders obsolete and promotes ,  of freedom(seem familiar doesn't it?).The dotcom bubble was one  famous example of this culmination .We are now standing in the age of internet maturity and how the hype have yet to match reality(or if it ever will).If the bitcoin follows this analogy,its trajectory might follow the same pattern.

That is unless bitcoin went the way of the PDA or the pager ,that is.

The ones who are getting out of bitcoins now are the get-reach-quickly types.

[guzazaza]

Good, the craze was never good for btc long term
Maybe now the community can finally focus on making substantive progress with regulators and necessary protocol tweaks to foster sustainable adoption

You are here because of the craze. 

[IamCANADIAN013]

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

It's definitely died down since it hit over $1000, but I'd say thats a good thing.  Bitcoin grew too big, too fast as far as I'm concerned.  I know I lost interest in talking about for a while but it didn't stop me from keeping an eye on it and investing in it.

Bitcoin has had a rough ride this year and a lot of "I told you so" were thrown around to people who talked about it and supported it. I'd like to see Bitcoin go back underground so to speak and grow slowly.  Wasn't that the point of it in the first place?

Like any investment in it's infancy, sometimes it's just better to walk away for a while and let it grow up.

[ytr8]

Because of the  leveraged transactions, the bitcoin craze dying down, because there is no leverage so the dogecoin is rising up

[cryptonikus]

I dont know how is going adoption, but some people think it is dying, just because there are no headlines in news about bitcoin. But those people will be waken up in few years, and will regret, that they were just waiting on sidelines, for news people to tell them what is going on in real world.

[QuestionAuthority]

I dont know how is going adoption, but some people think it is dying, just because there are no headlines in news about bitcoin. But those people will be waken up in few years, and will regret, that they were just waiting on sidelines, for news people to tell them what is going on in real world.

User adoption is moving slowly but it's not dying. We need an idea for something everyone will want but can only be purchased with Bitcoin. Like the next big fad. POGs or Beanie Babies but for Bitcoin. Once people have learned how easy it is to use Bitcoin with Circle many of them will use it again.

[Window2Wall]

I dont know how is going adoption, but some people think it is dying, just because there are no headlines in news about bitcoin. But those people will be waken up in few years, and will regret, that they were just waiting on sidelines, for news people to tell them what is going on in real world.

User adoption is moving slowly but it's not dying. We need an idea for something everyone will want but can only be purchased with Bitcoin. Like the next big fad. POGs or Beanie Babies but for Bitcoin. Once people have learned how easy it is to use Bitcoin with Circle many of them will use it again.

I think that circle could cause many more people to be comfortable to use bitcoin. This coupled with the fact that many merchants are seeing benefits of accepting bitcoin and are taking advantage of these benefits will cause the rate of adoption to increase

[bbit]

I dont know how is going adoption, but some people think it is dying, just because there are no headlines in news about bitcoin. But those people will be waken up in few years, and will regret, that they were just waiting on sidelines, for news people to tell them what is going on in real world.

User adoption is moving slowly but it's not dying. We need an idea for something everyone will want but can only be purchased with Bitcoin. Like the next big fad. POGs or Beanie Babies but for Bitcoin. Once people have learned how easy it is to use Bitcoin with Circle many of them will use it again.

Some alt-coin shake-out has to happen . So much dead money in alt-coins it could drag some of BTC down.

[achow101]

I hope it will going up within 1 year hahaha

[ekstremista]

Another $100 down in a couple days? It's just a flesh wound.

[QuestionAuthority]

I dont know how is going adoption, but some people think it is dying, just because there are no headlines in news about bitcoin. But those people will be waken up in few years, and will regret, that they were just waiting on sidelines, for news people to tell them what is going on in real world.

User adoption is moving slowly but it's not dying. We need an idea for something everyone will want but can only be purchased with Bitcoin. Like the next big fad. POGs or Beanie Babies but for Bitcoin. Once people have learned how easy it is to use Bitcoin with Circle many of them will use it again.

Some alt-coin shake-out has to happen . So much dead money in alt-coins it could drag some of BTC down.

Maybe but I see altcoins as more pump n dump coins for children. I'm surprised we haven't seen one called BeerMoneyCoin or AllowanceNotEnoughCoin. Most of the dumbasses are pumping on bad clones of even worse scrypt based shitcoins. I don't know why these kids think you can clone a turd and think it's suddenly going to smell like a rose. I doubt many first time users are purchasing anything with most of the altcoins. Mr. Normal Citizen is not going to use Dogecoin or Darkcoin to buy from Overstock even if they could. Bitcoin is alone in name recognition and availability.

[achow101]

I think BTC price will drop to 300USD within today