The Bitcoin hype is 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.

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[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.