The Bitcoin hype is over

[Nagle]

Google Trends for "Bitcoin" searches.

The first peak in 2011 is when Bitcoin got initial attention.
The second peak in mid-2013 is the China bubble.
The third and biggest peak in 2014 is the Mt. Gox collapse.

The first two were when the two big Bitcoin runups happened.  The Mt. Gox collapse, no so much.

Post Mt. Gox, the hype level has been modest, and the price has been flat or declining.

[Biitcoin]

So what are you saying , Bitcoin is dead ?

[marvinrouge]

Oh no ! We only have 100% more searches compared to last year

[franky1]

i havnt even looked at the exchange value of bitcoin as measured by crappy exchanges. and yet i already can see the OP is simply
1. he is a scared sheeple that doesnt know true value
2. trying to scare sheeple for the intent of him buying cheaper coins..

either way, a pointless thread

[Daniel91]

Google Trends for "Bitcoin" searches.

The first peak in 2011 is when Bitcoin got initial attention.
The second peak in mid-2013 is the China bubble.
The third and biggest peak in 2014 is the Mt. Gox collapse.

The first two were when the two big Bitcoin runups happened.  The Mt. Gox collapse, no so much.

Post Mt. Gox, the hype level has been modest, and the price has been flat or declining.

Interesting info but based on this statistics only, without additional research and analyzes, we can't predict what will happen with Bitcoin in the future.
I think that main point here is if ''big'' merchants'' will accept Bitcoin as additional way of payment, or not.
If they accept Bitcoin, we will become mainstream and things will change for the better

[thomastaylor]

I started with bitcoins early this year when the price was still high and I've read a lot about bitcoins and altcoins on telegraph and other websites.
Most of the authors think Bitcoin is using the same old technology and therefore it has no chance to compete because of the lack of further improvements.

What's your opinion about it? Will a newer coin take bitcoins place in a couple of years?

[Sutters Mill]

The Bitcoin hype is over.....for now..... until more hype.... then bitcoin dies down again.... then to the moon..... the failing..............

[1Referee]

What's your opinion about it? Will a newer coin take bitcoins place in a couple of years?

Might happen, might not happen.

Everything related to technology gets replaced after some time. Will the same happen with Bitcoin? I don't know.

The beauty of Bitcoin is that it is open-source, it can evolve into something that will change the world , so we might see Bitcoin stay for ever

[knight22]

The hype is over until..... the next hype 

[BitcoinExchangeIndia.com]

Google Trends for "Bitcoin" searches.

The first peak in 2011 is when Bitcoin got initial attention.
The second peak in mid-2013 is the China bubble.
The third and biggest peak in 2014 is the Mt. Gox collapse.

The first two were when the two big Bitcoin runups happened.  The Mt. Gox collapse, no so much.

Post Mt. Gox, the hype level has been modest, and the price has been flat or declining.

Once again, u reminded me of the following pic...

[mymenace]

looks like any other chart

take a look at the chart it goes up then down like most other stock and each bottom is bigger than the last time

nothing to see here move along

Google Trends for "Bitcoin" searches.

The first peak in 2011 is when Bitcoin got initial attention.
The second peak in mid-2013 is the China bubble.
The third and biggest peak in 2014 is the Mt. Gox collapse.

The first two were when the two big Bitcoin runups happened.  The Mt. Gox collapse, no so much.

Post Mt. Gox, the hype level has been modest, and the price has been flat or declining.

[bitcasino]

Bitcoin buy is not over!

[pedrog]

No worries, keep cal and wait for the next hype.

[GenTarkin]

seriously OP... gtfo!

[BayAreaCoins]

If the OP honestly believes this I really hope he has BTC futures shorted!

You can short with 20x leverage. 

Gl

[Monica80]

I strongly believe Btc still in its infancy.

Until the end of 2012, bitcoin was in garage mode... a startup with big whales paying attention. 2013 through 2014 a huge pump and dump. Young investors making tons of money with bigger returns than your typical stockmarket. Plus, a none regulated one.

What we see is a long term of consolidation. At 4.8 Billion dll market capitalization, you think people are just going to drop it and forget about it?

More and more stores welcoming and accepting btc.

So yeah, give me all your coins. I'll buy them from you cheap.

[cuddaloreappu]

op check carefully again..the third one is not MT.gox collapse but the November price bubble..

the price and search volume is in correlation...

SO as price increases search volume also will increase

[Light]

1. he is a scared sheeple that doesnt know true value

To be fair though, knowing the intrinsic value of any item is nigh on impossible to actually work out (if it was everyone would just buy under the intrinsic and wait for the appropriate correction to occur - thereby making a profit) and for something that is unique (with a highly unpredictable future regarding both consumers and business users) such as Bitcoin making an actual valuation on its worth is naturally even harder. The reality is that a majority of people have no clue about a valuation - it's all purely speculation.

[Monica80]

1. he is a scared sheeple that doesnt know true value

To be fair though, knowing the intrinsic value of any item is nigh on impossible to actually work out (if it was everyone would just buy under the intrinsic and wait for the appropriate correction to occur - thereby making a profit) and for something that is unique (with a highly unpredictable future regarding both consumers and business users) such as Bitcoin making an actual valuation on its worth is naturally even harder. The reality is that a majority of people have no clue about a valuation - it's all purely speculation.

Just like gold.

Step one: Find the next gold, in this case Bitcoin, Check.
Step two: Create a purpose for it, a demand... Half check
Step three: Make it scarce and difficult to obtain... hmmm 1/3 check?

[karlb187]

It's never over... 

[Einsteinium News]

Yes, much of the "hype" is over,  BTC has a true value of about $500 however the massive insecurity of the industry is the main factor depressing the value. 

As security increases so too with the value of BTC.   At which point "hype" will find new footing.

[Monica80]

Yes, much of the "hype" is over,  BTC has a true value of about $500 however the massive insecurity of the industry is the main factor depressing the value. 

As security increases so too with the value of BTC.   At which point "hype" will find new footing.

What do you see in the coming year that will increase security?

[oblixster]

dead? I'm waiting on the next hype in 2015, hope it's good one

[Monica80]

dead? I'm waiting on the next hype in 2015, hope it's good one

A financial hedge fund company released a ppt regarding POS and the new payment cycle. Bitcoin was part of that presentation. The no. of transactions and market capital rivaled some financial companies out there....

[Beliathon]

[slaveforanunnak1]

You have no idea what's coming. This thing is not going anywhere buddy. Just ga ahead and have a sit right there or GTFO

[Lauda]

Here we go, another idiot spreading FUD.
Sure, for a currency to be alive we need record breaking price points and 10 000% yearly growth. 

[theblacksquid]

Whether or not Bitcoin will be successful is to early to discern today. It does what its supposed to do, its a great payment network that allows you to send any value for close to nothing to any part of the world. Because its still in its infancy, bitcoin (the monetary unit) is still very, very unstable. Once/if the price stabilizes, it would be game over for the traditional financial institutions.

[Melbustus]

Bitcoin now looks like a mature technology. The software has settled down, there's been a modest level of merchant adoption, the transaction rate hasn't increased all that much over the last six months, and the legal status has become clear. The mining side is running into power consumption cost as a limit. Bitcoin isn't a new thing any more.

With Bitcoin out of its startup phase, what happens now?  It's starting to look like a niche product, positioned somewhat like gift cards. There are a number of pseudo-currencies like that - airline frequent flyer miles, all those "reward point" schemes, and the big array of prepaid cards available at retail outlets. They're just little convenience things; they have no significant impact on the financial system. It looks like that's where Bitcoin is settling.

John, you've been consistently wrong analyzing bitcoin's ecosystem and long-term prospects for years. Aggressively wrong, in fact:

We might see $3.  After each big drop, there's been some recovery. But each top was lower than the last, and each recovery lasted no more than three days.

no one's listening to you.

Actually, I've received several private messages recently thanking me for keeping them from making a big financial mistake.

Now let's have a look at "cypherdoc"'s track record:

• September 3, 2011: "while the falloff has been dramatic, it appears to be stabilizing around this 8-10 range.  i keep accumulating on the way down.  just give it time.  they can't stop it."
• August 4, 2011: "Re: $10,000 Bet that Bitcoins will outperform Gold, Silver by 100X !!! --- i happen to agree and i've staked my money on it!!!!"
• July 9, 2011: "i will also bet any or all of you btc bears/trolls in this thread 100 BTC each to be held in escrow that the USD price of 1 BTC will exceed $20 in one year."

If he's telling the truth, he's lost a lot of money in Bitcoin. Anybody fool enough to listen to him did, too.

Those people you kept from "making a big financial mistake"....you actually prevented from making a 5000%-10000% return!



A few more quotes:

I've been saying "long slow slide" for months.  That happened. Now we're seeing the endgame, which looks like the endgame for most penny stocks. The volume is low, around $50,000 per day.  Some of that is 'bots running the same money back and forth; the actual volume out of the market is smaller. The price moves around whenever anybody makes a sizable transaction. I'm not expecting a big drop, just random noise with a long-term downtrend.

Bitcoin is now useless as a currency, because liquidating the day's receipts for one reasonably sized store would crash the market.

The end is coming not with a bang, but with a whimper.

...It's zombie mode, the fate of many startups. They're not going anywhere, they can't pay back their investors, but they generate just enough activity to keep alive.

And I just briefly looked at your post history cuz I remember your trolling from 2011. You have many months worth of posts predicting the "endgame" of bitcoin as a result of the 2011 ramp and fall. There are probably a good deal more blantantly wrong predictions/statements from you that one could dig up.

A couple interesting quotes, though:

...
I'd like to see a digital currency that works well enough to compete with Paypal. I've seen Digicash, Beenz, and Flooz tank.  Bitcoin isn't going to do much better.

...
Bitcoin's innovation is not that it prevents double-spending.  That was invented by David Chaum in the 1990s and formed the basis of DigiCash. Nor is "mining" new; that's from Hashcash in the 1990s. Bitcoin combines the two concepts. The end result is a lot like Digicash, but distributed. 

Despite the fact that you seem to realize that bitcoin is the first decentralized digital cash (and hence, the first *actual* realization of the efforts of all those early digital-money guys from the 80s and 90s; ie, their "holy grail" of money), you dump it into the same bucket as Digicash, Beenz, and Flooz. THAT is possibly the core source of your intellectual errors. Bitcoin is indeed not the first digital cash system. It's just the first decentralized one, and therefore, the first ideal money for modern times. That makes it a different beast entirely.

[BitCoinNutJob]

Oh no ! We only have 100% more searches compared to last year

we have more search hits now in this quiet period on a day to day basis vs the $30 bubble peak haha

[LiteCoinGuy]

i havnt even looked at the exchange value of bitcoin as measured by crappy exchanges. and yet i already can see the OP is simply
1. he is a scared sheeple that doesnt know true value
2. trying to scare sheeple for the intent of him buying cheaper coins..

either way, a pointless thread

another  "bitcoin is dead because i dont understand what bitcoin is"  thread 

[yayayo]

No problem that the last hype is over. The next one is knocking at the door soon enough.

Actually it's great to have a period of calmness and healthy btc business growth. Fundamentals are improving rapidly. If you compare the fundamentals of today with those 1-2 years ago, you'll see that we've grown massively. Bitcoin is not dying just because it's not at an alltime high compared to fiat money. What counts is usage of Bitcoin. And that's increasing every day.

Exchange rate will follow soon enough.

ya.ya.yo!

[247casino]

I bet OP believes the .com bubble is over too right OP?

All .com related stocks crashed early 2000

Yet today google is one of most valuable companies in the world, Amazon is another survivor and so is ebay and paypal

yep .com is dead

just like btc

LOL

[FUR11]

Huh, so you're around since 2011 and really believe this? Interesting, most of the times people claim something like this, they know Bitcoin for a mere couple of months, tops. Anyways, I don't think this is the end, by any means. Even if Bitcoin is just going to fill a certain niche, it will still be a lot bigger than it is today!

[pereira4]

Hype isn't everything, if it was bitcoin would be trully over.

[stellar69]

I think that the stats are good enough and noone needs to worry

[BRE]

There is no Machine or Human can make 100% predict where bitcoin will go.
Its not over , lets say its a beginning  

[SatshiFan]

soon there's another hype... coming more and more often it seems.

[Monica80]

Wow great flashes from the past... Thanks Melbustus!

[arbitrage001]

The hype is over until..... the next hype 

Unlikely to have another hype when there are so many new next generation coins out there.

[KIRAZ]

If you are in for a "hype" you are better off without it move on find some other game changer if you can.

[LiteCoinGuy]

The hype is over until..... the next hype  

Unlikely to have another hype when there are so many new next generation coins out there.

which are all dead or non-existent.

[Pierre11]

The hype is over until..... the next hype  

Unlikely to have another hype when there are so many new next generation coins out there.

which are all dead or non-existent.

Except for LTC, long live BTC's brother

[twoface]

The hype is over until..... the next hype  

Unlikely to have another hype when there are so many new next generation coins out there.

which are all dead or non-existent.

Except for LTC, long live BTC's brother

lol, ltc went from $48 to $3.5. thats over -90% loss. scam coin.

[btcxyzzz]

OP, you should've tried harder if you wanted to express bearish mood. The picture you posted tells nothing about hype being over. Actually it tells quite oposite.

[Wagnaro]

It's true that too many people have lost faith in bitcoin after mt.gox incident and hacking attempts at many other exchanges.

[Welsh]

Unlikely to have another hype when there are so many new next generation coins out there.

Which the majority of them are utter shit.

[franky1]

1. he is a scared sheeple that doesnt know true value

To be fair though, knowing the intrinsic value of any item is nigh on impossible to actually work out (if it was everyone would just buy under the intrinsic and wait for the appropriate correction to occur - thereby making a profit) and for something that is unique (with a highly unpredictable future regarding both consumers and business users) such as Bitcoin making an actual valuation on its worth is naturally even harder. The reality is that a majority of people have no clue about a valuation - it's all purely speculation.

intrinsic value is a term only for natural resources(commodities),  not assets.. assets do not need intrinsic value. do not compare the word true value and intrinsic value. they are two different things. in short bitcoin is an asset, not a commodity.
the simplist way to truly value bitcoin is not ignore the speculation markets (crappy exchanges that have daily fiat deposit limits and allow manipulations.) and instead look at the direct swap markets such as localbitcoins/otc where EVERY bitcoin is swapped with a bank transfer

Just like gold.

Step one: Find the next gold, in this case Bitcoin, Check.
Step two: Create a purpose for it, a demand... Half check
Step three: Make it scarce and difficult to obtain... hmmm 1/3 check?

bitcoin has atleast 30 purposes/benefits.
bitcoin is scarce, hense why why its a few hundred dollars and not a few cents in price.

[Hiraga]

More hype coming back soon. Past year so many things happened during the bearmarket with big companies and investors involved, this all has accumulated and can power next uptrend for a long time.

[magicmexican]

Times definately changed, some "stability" kicked in. I miss the days of 100$ 200$ 400$ price swings. Man, even the "China bans", which everyone got sick of really fast sound exiting now. Its like nothing going on, at all.

[Hiraga]

Actually this thread should be in speculation.

[xcapator]

People only want BTC when the price is uptrending.... someone will create and media hype sonner or later and we will see moon again.

[kerafym]

Unlikely to have another hype when there are so many new next generation coins out there.

Which the majority of them are utter shit.

One of them will turn golden.

[LiteCoinGuy]

Unlikely to have another hype when there are so many new next generation coins out there.

Which the majority of them are utter shit.

One of them will turn golden.

and one will turn silver.

[Armadillo]

I just wanted to mention the Technology/Gartner Hype Cycle....it fits well with the Bitcoin price chart.
As you can see there is a lot of initial interest and the hype builds the prices up beyond sustainability.
Then when the short term speculators cash out and the price dumps...the real value of the technology builds back up at a rational speed.
There are still many years of growth left in the second half of the cycle.  GO BITCOIN!

http://avc.com/wp-content/uploads/2014/09/Hype-cycle-600x413.jpg

[1369]

look, you guys gotta see the bigger picture here, blockchain technology is revolutionary, bitcoin was the first, so naturally it dominates right now, but anyone can copy & improve, all it would take to bring real competition to btc is a company like microsoft or chase bank to roll out their own thing & with enough financial backing, boom!
where blockchain will shine is in future applications beyond store of value, this is just the beginning.

[J3VVL]

look, you guys gotta see the bigger picture here, blockchain technology is revolutionary, bitcoin was the first, so naturally it dominates right now, but anyone can copy & improve, all it would take to bring real competition to btc is a company like microsoft or chase bank to roll out their own thing & with enough financial backing, boom!
where blockchain will shine is in future applications beyond store of value, this is just the beginning.

^meanwhile the same big banks will do there best to kill off the original wild animal! just my wag :\ they will not give up without a fight!

[QuestionAuthority]

The Gold hype is over....

Don't buy any more Gold.

[DrGrid]

There is only the pump.

[segvec]

There is only the pump.

You're wrong.
Like the rest of the little turds running around here.

[J3VVL]

The Gold hype is over....

Don't buy any more Gold.

no doubt ~ much better dig (mine) for yer own gold ! Lol!

[Beliathon]

I've heard that before.