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Author Topic: Bitcoin Crashing Again....  (Read 6808 times)
Biomech
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September 28, 2014, 10:52:46 PM
 #81

..............

My conclusion, based on 45 years of living in the United States and watching just how rapacious it's government is, is that it will happen at some point. I am of the opinion that the bitcoin protocol and community are resilient enough to withstand it, but saying that it cannot happen or even that it's unlikely seems too complacent. But adoption will have to reach larger scales by quite a lot before they feel that threatened. Right now it's a diversion and cause for some concern to them. That can change. We want that to change. But we should NEVER be complacent when dealing with something that can potentially break a 500 plus year stranglehold on monetary exchange.


I'm going to say something that may sound crazy to most people, but in this decades we could see governments become obsolete, if they aren't already, having a wide perspective of things. Corporations are and will be always more the center of our world, leading progress and innovation and it seems to me that already now it's just a matter of time until they have more power than governments. Just think how much progress in artificial intelligence will increase in the next decade, just take a look at some of the projects from IBM on smart cities or Watson, or Google with its translator and facial recognition alghoritms. These are just small pieces of what will become a big picture some day. Why should we need a government then?
And Bitcoin is one of those pieces. This could be the longest bear phase we seen so far, but I ultimately believe cryptos are part of the future. Bitcoin couldn't have come at a better time.

Being an anarchist, it don't seem all that crazy to me. But I don't really want to see a corporate oligarchy either, but rather decentralized enclaves of people voluntarily cooperating. Corporations in their current form are able to commit great abuses because they are legally considered a person via a state charter. Juridical persons should not exist. Without the State, Corporations lose that advantage, and must compete fairly, even given their scale. They cannot, for instance, maintain protected monopolies (which contrary to popular propaganda is one of the biggest reasons for a corporation to exist) nor prevent others from bringing innovative competing products to market. Ending the governments will level the playing field far more than any revolution or "reform" ever could.

And I totally agree with your last sentence Cheesy
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September 28, 2014, 11:47:32 PM
 #82

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Bitcoin couldn't have come at a better time.

Yes, it came as a response to the inequalities of the current system. Without the continued abuse by govts etc, it may not have.
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September 30, 2014, 07:10:44 AM
 #83

Don't think Bitcoin is crashing.  It actually looks like it's in a holding pattern of sorts:



LMFAO! Yes, That pattern being a cliff drop!
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September 30, 2014, 02:04:36 PM
 #84

Don't think Bitcoin is crashing.  It actually looks like it's in a holding pattern of sorts:



LMFAO! Yes, That pattern being a cliff drop!

I acknowledge that Bitcoin price is down for 2014, but compared to September of 2013, we're still up.

Let's see how we finish out the year first, before making unsupported statements.

CharityAuction
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ColdScam
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September 30, 2014, 03:54:25 PM
 #85

Don't think Bitcoin is crashing.  It actually looks like it's in a holding pattern of sorts:



LMFAO! Yes, That pattern being a cliff drop!

I acknowledge that Bitcoin price is down for 2014, but compared to September of 2013, we're still up.

Let's see how we finish out the year first, before making unsupported statements.

Why does year end have to signify anything??? Do you have any idea what they do in illiquid markets like this?! They = huge wales... They literally roller coaster the thing all year & since no new money is really in this market, when they pull out it looks "flat" & the end of the year of course looks the same as the start(or at a loss) because there is literally no new money going into BTC. Stop getting fooled by venture capitalist who throw money into business that push out fiat currency to them! They're not buying or holding bitcoin!!! They're funding companies because they have insane profit margins right now and are largely unregulated. That's the only reason.
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September 30, 2014, 05:31:54 PM
 #86

Maybe the market cap produced by the $800-900 price was just unsustainable and the bubble has just finally popped to a more reasonable level?
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September 30, 2014, 05:44:06 PM
Last edit: November 10, 2014, 06:34:35 AM by Kontridder
 #87

Maybe the market cap produced by the $800-900 price was just unsustainable and the bubble has just finally popped to a more reasonable level?

Cheesy
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September 30, 2014, 05:45:24 PM
 #88

We need some more good news in the press to boost buying confidence, any large merchants are also selling Bitcoin for Fiat as soon as they receive it, they don’t hold on to it long enough etc all contributing to the decline in value. Hopefully it will shoot up again as people predict but it will probably get worse before it gets better.

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fewcoins
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October 01, 2014, 05:41:57 AM
 #89

We need some more good news in the press to boost buying confidence, any large merchants are also selling Bitcoin for Fiat as soon as they receive it, they don’t hold on to it long enough etc all contributing to the decline in value. Hopefully it will shoot up again as people predict but it will probably get worse before it gets better.

Yea....

A lot worse before it gets better means a new level regarding price! So when it gets back to $10 you can still hold and hope for that 1,000+
Ilan123
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October 01, 2014, 07:24:14 AM
 #90

We need some more good news in the press to boost buying confidence, any large merchants are also selling Bitcoin for Fiat as soon as they receive it, they don’t hold on to it long enough etc all contributing to the decline in value. Hopefully it will shoot up again as people predict but it will probably get worse before it gets better.

Yea....

A lot worse before it gets better means a new level regarding price! So when it gets back to $10 you can still hold and hope for that 1,000+

Perhaps you may be right!

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