My mother's a psychic, here's what she says about BTC

[lonely@thetop]

The concept will stay but BTC specifically will be replaced "by better stuff", I should sell before new year because the price will keep declining and there won't be any more bubbles. She has no idea there are other coins or better coins.

I have this information since spring this year, don't ask me for proof as I won't give any. Don't ask why she didn't tell me to buy it in 2010 either - she never did, I got involved myself and asked her what she thinks. I doubted but certain other things in my life followed the prediction to the letter and based on that I turned extremely bearish.

We can revisit this after new year, I'm serious and not trolling.

[Scott J]

I have this information since spring this year, don't ask me for proof as I won't give any.

You don't need to be psychic to realise that Bitcoin may not be the dominant crypto in the distant future.

As for no more bubbles... she is wrong I am afraid.

Source: my Gran.

[CryptoCarmen]

I am not sure of bubbles, but i am positive, that BTC will be in some point of time worth more then $400
Also there is 0.01% chances, BTC will be dominant crypto for next 100 years.

[criptix]

The concept will stay but BTC specifically will be replaced "by better stuff", I should sell before new year because the price will keep declining and there won't be any more bubbles. She has no idea there are other coins or better coins.

I have this information since spring this year, don't ask me for proof as I won't give any. Don't ask why she didn't tell me to buy it in 2010 either - she never did, I got involved myself and asked her what she thinks. I doubted but certain other things in my life followed the prediction to the letter and based on that I turned extremely bearish.

We can revisit this after new year, I'm serious and not trolling.

Ask your mom where the bottom is lmao  

And flame her for not telling you about btc when it was 1-10 cent each LoL

[lonely@thetop]

Well her initial statement was "sell or you'll lose it". Lose, how the fuck? I'm very careful, using encrypted containers backed up to multiple locations all under linux distro with wallets compiled from source, how the fuck will I lose it? If it's not me losing it, then will it fail? But BTC doesn't revolve around me, there are millions pumped into it, ecosystem being built, startups being launched, it's too big to fail?

"The concept will remain but it will be replaced with better stuff, you have to sell this year if you want something out of this". There won't be any specific numbers, it's kinda abstract, she's using lenormand cards, they don't give numbers but concepts that psychics can read. The concepts are abstract but not to the point that could be dismissed. For example, she told me the hair, eye color and profession of my new girl before I even mentioned her. Other things too.

Take of this what you will, I just had some wine and thought I'd let this one out. I'll be selling 90% holdings this month, if I lose out on a next major spike so be it, but I'm positive about the validity of this now.

[Ibian]

The price will be over $27483 by march 2015. The Ghost of Julius Caesar told me.

[MoreFun]

If you really trust your mother then you will short BTC, otherwise you are just scared and bullshiting by worthless mothers words (no mother wants for her son te be in some risky things she doesn't know shit about).

[K128kevin2]

The chance of another cryptocurrency replacing bitcoin is negligible. By saying it's negligible, I mean it won't happen. The chances are pretty much zero at this point. It doesn't matter if someone comes out with something better. This happens all the time with all kinds of products. Inferior products that get to market first and get a huge amount of momentum will run the better, smaller products out of business.

Bitcoin is only used by a small number of people. However, it has been adopted by several very large companies in its recent history. Alt coins are used by waaayyyyy fewer people and can't really be spent anywhere. Hardly anybody outside of this community has even heard of any alt coins. They aren't going to overtake bitcoin unless there turns out to be some horrible exploit in the bitcoin protocol and the entire currency fails suddenly.

[TaunSew]

The chance of another cryptocurrency replacing bitcoin is negligible. By saying it's negligible, I mean it won't happen. The chances are pretty much zero at this point. It doesn't matter if someone comes out with something better. This happens all the time with all kinds of products. Inferior products that get to market first and get a huge amount of momentum will run the better, smaller products out of business.

Nope

Bitcoin only has 500,000 to 2 million users.  While the internet back in 1989 had more users.  Dot.com in the late 1990s had around 130 million.  Paypal today has around 150 million users.

Bitcoin is small fish (not even that it's more like plankton) and doesn't have any holding power and doesn't seem to be expanding its' userbase anymore, despite the good concept.  

IMHO - the future is the 2.0 crypto currencies with strong communities and good distribution.  The first one to gain any momentum (it's only a matter of time) will shoot past Bitcoin's small userbase.

[criptix]

The chance of another cryptocurrency replacing bitcoin is negligible. By saying it's negligible, I mean it won't happen. The chances are pretty much zero at this point. It doesn't matter if someone comes out with something better. This happens all the time with all kinds of products. Inferior products that get to market first and get a huge amount of momentum will run the better, smaller products out of business.

Nope

Bitcoin only has 500,000 to 2 million users.  While the internet back in 1989 had more users.  Dot.com in the late 1990s had around 130 million.  Paypal today has around 150 million users.

Bitcoin is small fish (not even that it's more like plankton) and doesn't have any holding power and doesn't seem to be expanding its' userbase anymore, despite the good concept.  

IMHO - the future is the 2.0 crypto currencies with strong communities and good distribution.  The first one to gain any momentum (it's only a matter of time) will shoot past Bitcoin's small userbase.

if you want to compare bitcoin with the internet then we are at 1994/95 right now - the internet had around 5 million users at that time.

the big bang is still to come

[ssmc2]

The chance of another cryptocurrency replacing bitcoin is negligible. By saying it's negligible, I mean it won't happen. The chances are pretty much zero at this point. It doesn't matter if someone comes out with something better. This happens all the time with all kinds of products. Inferior products that get to market first and get a huge amount of momentum will run the better, smaller products out of business.

Nope

Bitcoin only has 500,000 to 2 million users.  While the internet back in 1989 had more users.  Dot.com in the late 1990s had around 130 million.  Paypal today has around 150 million users.

Bitcoin is small fish (not even that it's more like plankton) and doesn't have any holding power and doesn't seem to be expanding its' userbase anymore, despite the good concept.  

IMHO - the future is the 2.0 crypto currencies with strong communities and good distribution.  The first one to gain any momentum (it's only a matter of time) will shoot past Bitcoin's small userbase.

Uuuuuumm nope

You understand the concept of network effect right? Maybe not. And all the 2.0 talk? Well I recommend you read up on Open Transactions which effectively takes care of all of that while incorporating Bitcoin. Done and done.

[hyphymikey]

Invested miners will make sure bitcoin remains the dominant crypto, unless their miners can mine the new crypto. If that is the case there is no benefit in the new crypto.

About the no more bubbles... the ETF alone will cause a bubble.

How correct is your mother on her psychic thoughts? If she was right a majority of the time you would be so rich as to not even have to worry about bitcoin, and probably wouldn't bat an eye at it.

[K128kevin2]

The chance of another cryptocurrency replacing bitcoin is negligible. By saying it's negligible, I mean it won't happen. The chances are pretty much zero at this point. It doesn't matter if someone comes out with something better. This happens all the time with all kinds of products. Inferior products that get to market first and get a huge amount of momentum will run the better, smaller products out of business.

Nope

Bitcoin only has 500,000 to 2 million users.  While the internet back in 1989 had more users.  Dot.com in the late 1990s had around 130 million.  Paypal today has around 150 million users.

Bitcoin is small fish (not even that it's more like plankton) and doesn't have any holding power and doesn't seem to be expanding its' userbase anymore, despite the good concept.  

IMHO - the future is the 2.0 crypto currencies with strong communities and good distribution.  The first one to gain any momentum (it's only a matter of time) will shoot past Bitcoin's small userbase.

First of all, I would like to see the source of your statistics here but either way, they are meaningless dude... how is the internet analogy even remotely relevant here? Did the internet beat out some other larger competitor in 1990s? The analogy doesn't work. The Dot.com and Paypal statistics are also irrelevant.

Your point seems to be that because bitcoin has very few users, it can be easily overtaken by a better cryptocurrency. You fail to realize two points here though:

1.) The investment in bitcoin by several multi-billion dollar companies gives it a huge amount of momentum. Furthermore, the fact that you can buy almost anything with bitcoin now on the internet gives it a huge amount of momentum. I had to buy something from Newegg.com the other day and didn't even realize that they take bitcoin until I went to check out, so I ended up just paying in bitcoin. You can't spend alt coins anywhere, and therefore their only purpose at the moment is to trade for a profit.

2.) The reason bitcoin isn't that popular is because cryptocurrencies in general are not that popular. As they start to become more popular, do you think people are going to jump onto the coins that nobody uses? People aren't going to go online and do research and find out what coin has the most robust security protocol or anything like that - they are going to choose the one that is most popular and that they can use the most easily. There are tons of bitcoin companies popping up everywhere and making the currency easy for everyone to use. This is not the case for any other coins.

Like I said, unless bitcoin suddenly fails for some unexpected reason (and by suddenly, I mean over the course of like one day or less), no other cryptocurrency is going to overtake it. This kind of thing doesn't happen slowly - it happens suddenly at once or it doesn't happen at all. Nobody wants to invest in a currency that nobody uses and can't be spent anywhere (except for people trying to turn a quick profit).

[foggyb]

The chance of another cryptocurrency replacing bitcoin is negligible. By saying it's negligible, I mean it won't happen. The chances are pretty much zero at this point. It doesn't matter if someone comes out with something better. This happens all the time with all kinds of products. Inferior products that get to market first and get a huge amount of momentum will run the better, smaller products out of business.

Nope

Bitcoin only has 500,000 to 2 million users.  While the internet back in 1989 had more users.  Dot.com in the late 1990s had around 130 million.  Paypal today has around 150 million users.

Bitcoin is small fish (not even that it's more like plankton) and doesn't have any holding power and doesn't seem to be expanding its' userbase anymore, despite the good concept.  

IMHO - the future is the 2.0 crypto currencies with strong communities and good distribution.  The first one to gain any momentum (it's only a matter of time) will shoot past Bitcoin's small userbase.

if you want to compare bitcoin with the internet then we are at 1994/95 right now - the internet had around 5 million users at that time.

the big bang is still to come

I think its more realistic to compare internet DOMAIN growth data:



Internet users statistic is not as meaningful in practical terms. They typically aren't contributing anything, especially in the early days of the WWW. Domains is a better real world metric to see how the business side of things is growing. It takes capital to launch and develop a domain. As does owning bitcoin.

Let's also look at number of bitcoin transactions per day. That is also a more useful statistic than number of users:

https://blockchain.info/charts/n-transactions?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

Looks healthy to me.

[labsbitforum]

...don't ask me for proof as I won't give any.

My favorite part of the post.  Cant...  stop...  laughing!!!!

[Bulletin]

Bitcoin will gain value over time, paypal accepting btc should be a strong push to btc value, as i has much more users.

[JimboToronto]

flame her for not telling you about btc when it was 1-10 cent each LoL

 

[lonely@thetop]

Shorting might be a great advise now. Please don't try to prove to me the bright future of BTC by saying things like ETF/Paypal adoption or that no other altcoins can take over. I'm well aware of these wishful arguments from here or r/bitcoinmarkets.

I'll just say that it doesn't have to be an altcoin to take over - people don't care about decentralized, they want least pain with max outcome. How many of you host your own email rather than letting google do the thing? How many use facebook connect? You know what.. "you" are not even a good representative group of the population, it's clear BTC has reached it's full potential from nerds alone.

We need joe sixpacks and computer illiterate people. And by computer illiterate people I'm saying people that pay to get their windows re-installed every 6 months because it "gets slow" or people who call their ISP about broken internet link just because they accidentally dragged the IE icon to trash bin. Why would they care about BTC technicals (arguably hard to grasp and use securely even for IT professionals) and not convenience alone?

The moment Apple, Google or Facebook launches a convenient, safe and quick value transfer system BTC will bite the dust. And no, these companies are not crazy to adopt BTC - it has a muddy PR image due to massive scams like gox, no "founder" and thousands of early adopters still silently waiting for their exit. I've seen people showing screens of their MtGox accounts with thousands of coins (could be fake, but whatever) because they lost it and can no longer do anything about it, there are certainly many people with thousands of coins lucky/smart enough not to have kept it in that childish exchange. They alone can crash the economy, I won't even touch the mining/inflation that is taking place.

ETF is still vaporware, just another day for the bulls to fix on. Many dates have passed this year with no positive impact already because things like that don't drive consumer (not company) adoption. Joe sixpacks have to have a genuine need for this or be told they need it by their peers. ETF will certainly not change that.

Look how poor an investment was BTC this year - a constant slide down after gox wrap up and scam news. I would not recommend anyone put in their money unless I wanted to lose a friend.

[piramida]

ok now we went from a psychic mom to a scared trollbear, quick transition. yeah, general population will never understand bitcoin or run to it with arms open, nobody ever expected this. people will use what's more convenient, and bitcoin gives the opportunity to create something far beyond anything apple, google or facebook could ever possibly create - a truly world-wide, cheap, free and unrigged financial system, where actual people have control over their money.

why would people want it, when it is ready? how many people would live in their own apartment instead of barracks? what about an apartment that guaranteed to be yours and only yours no matter which government is in power? as soon as that idea sinks in, there will be no coming back to banks.

you are just one of short term speculators here who really can not see out of the box. it is ok, it's just not your time yet. come back to bitcoin in 5 years when there will be no understanding to be done and you will see the results.

[lonely@thetop]

ok now we went from a psychic mom to a scared trollbear, quick transition.

I think you are the troll here buddy. Quick, cover your eyes and ears before logic and arguments penetrate your brain.