Stop your BTC cheerleading and mass delusion and face the reality

[SamTsuedo]

People, you need a reality check. Most of you here are holding to a few BTC expecting to become millionaires some day. You are in a collective mass delusion - about 95% of you here.

Satoshi Nakamoto stated himself that with BTC there will be no middle way - it will absord the whole world's economy which is estimated to be around $100 trillion including the black markets. If this does not happen BTC will be literally worthless - not even half a cent that it started at.

Bitcoin has been around since 2009 , so we are entering the 6th year of its existence. How many years would it take for bitcoin to absorb the total global economy? 50 years ? 100 years ? I doesn't matter because it was just another fad like myspace with a limited lifespan - that opened the social media to the mainstream and gave us twitter and facebook. Bitcoin's historical significance will be that it launched the concept of crypto currency to the mainstream. It will not be worth $10,000 or $100,000 dollars anytime soon (read: never).

So those of you who are still in delusional states holding the BTC you bought at $700 or $900 dollars, cut your loses and get away as fast as you can. November 2013 was the bubble which will never repeat again. All this talk about ETF is rubbish, because it is already calculated into the price.

The time is running out for BTC , and I am 90% certain it will be worthless before 2020. It has accomplished its task - crypto currency is mainstream.

Those smart enough know that the only real purpose of BTC right now is as a vehicle for transaction of fiat money, without being exposed to the scrutiny of the government checks and the global banking system, they understand that bitcoin is not a commodity, not a store of value, and it never was - to them it doesn't matter if the price of one BTC is $1 or $100,000. It doesn't change anything.

Some of you are so emotionally attached to your stack of bitcoins that you will react in a violent emotional outrage at my post. Those of you who are more stable are starting to realize what the score is, and no mate your 10 BTC or your 100 BTC stack will not make you a $ millionaire, might as well go to Vegas and try your hand at becoming a millionaire there. You have better chances.

Sam

[newIndia]

Repeat Telecast

[cakir]

Is Mastercard's Executive with us?
It looks like it, http://www.coindesk.com/mastercard-executive-argues-bitcoin-cant-trusted/

Well, first of all I'm using bitcoin as a currency that I don't have any limitations. For example if I leave my country for a vacation or etc, Foreign banks charges me a lot for a few bucks to spend on vacation. Also I can't carry a lot fiat with me...

But I can sell my bitcoin for fiat in a foreign country without paying any charges etc (in person of course).

But I'm agreeing with you on one topic; "bitcoin shouldn't be seen as a solid investment opportunity".

[UnunoctiumTesticles]

I agree with almost everything in the OP, except I am leaning more towards there will be another bubble in Bitcoin after bottoming below $200 in 2015. As I have explained in the Mad Max thread, until 2032 we are in a 51.6 year wave with peaking Public (government compatible) assets, e.g. sovereign bonds and Public pensions, and a move towards Private assets. The next 4.3 year wave of that overall wave will begin Oct. 2015, so that is when gold and Bitcoin will start to move up again. Bitcoin could perhaps move up 10X or perhaps at most 100X from $100ish to at most say $10,000.

Now it is somewhat possible that another crypto-currency could compete with Bitcoin, but that is a risky bet.

Bitcoin will be integrated into the government approved systems (e.g. KYC know your customer), but at the same time the bankrupt national government systems will be torn down and global or regional monetary systems will replace them after 2032, when btw China and Asia will be the new financial center of the world.

[lyth0s]

People, you need a reality check. Most of you here are holding to a few BTC expecting to become millionaires some day. You are in a collective mass delusion - about 95% of you here.

Satoshi Nakamoto stated himself that with BTC there will be no middle way - it will absord the whole world's economy which is estimated to be around $100 trillion including the black markets. If this does not happen BTC will be literally worthless - not even half a cent that it started at.

Bitcoin has been around since 2009 , so we are entering the 6th year of its existence. How many years would it take for bitcoin to absorb the total global economy? 50 years ? 100 years ? I doesn't matter because it was just another fad like myspace with a limited lifespan - that opened the social media to the mainstream and gave us twitter and facebook. Bitcoin's historical significance will be that it launched the concept of crypto currency to the mainstream. It will not be worth $10,000 or $100,000 dollars anytime soon (read: never).

So those of you who are still in delusional states holding the BTC you bought at $700 or $900 dollars, cut your loses and get away as fast as you can. November 2013 was the bubble which will never repeat again. All this talk about ETF is rubbish, because it is already calculated into the price.

The time is running out for BTC , and I am 90% certain it will be worthless before 2020. It has accomplished its task - crypto currency is mainstream.

Those smart enough know that the only real purpose of BTC right now is as a vehicle for transaction of fiat money, without being exposed to the scrutiny of the government checks and the global banking system, they understand that bitcoin is not a commodity, not a store of value, and it never was - to them it doesn't matter if the price of one BTC is $1 or $100,000. It doesn't change anything.

Some of you are so emotionally attached to your stack of bitcoins that you will react in a violent emotional outrage at my post. Those of you who are more stable are starting to realize what the score is, and no mate your 10 BTC or your 100 BTC stack will not make you a $ millionaire, might as well go to Vegas and try your hand at becoming a millionaire there. You have better chances.

Sam

Cryptocurrency is mainstream? LOL

By the way, Facebook was founded in 2004, it didn't even have positive cash flow until 2009 (5 years later!). As of January 2014 they still had ONLY 1.2 billion active users (10 years later!) with a world population of about 8 billion....

"Easy" tech takes about 6 years for adoption. Bitcoin as of right now is "difficult" tech in many regards. Either way we haven't even reached 6 years yet. bitcoin's future is bright.

[moriartybitcoin]

 'If this does not happen BTC will be literally worthless - not even half a cent that it started at. '

That's BULLSHIT. Bitcoin was born on the darknet and on the darknet it may remain if mass adoption doesn't come to fruition. 

Nonetheless, as a payment service for tech companies and drug vendors, Bitcoin would still retain plenty of value .. it just won't soar to the astronomical heights that people are predicting from mass adoption.

[SamTsuedo]

'If this does not happen BTC will be literally worthless - not even half a cent that it started at. '

That's BULLSHIT. Bitcoin was born on the darknet and on the darknet it may remain if mass adoption doesn't come to fruition. 

Nonetheless, as a payment service for tech companies and drug vendors, Bitcoin would still retain plenty of value .. it just won't soar to the astronomical heights that people are predicting from mass adoption.

The price is irrelevant , do you understand that? The only value it has is as a vehicle for supposedly anonymous fiat transactions - but even this is exposed as not being 100% true. We all know why all those dark alts started emerging this year, because BTC does not provide 100% anonymous transactions. It is very hard to track them, but not impossible and with enough manpower and resources certain entities (read: CIA) can track you down.

[NarC]

Why does bitcoin need to: "absorb the total global economy"  ? Credit cards don't account for the global economy and still are successful.

[UnunoctiumTesticles]

By the way, Facebook was founded in 2004, it didn't even have positive cash flow until 2009 (5 years later!). As of January 2014 they still had ONLY 1.2 billion active users (10 years later!)

Facebook was launched to the public Sept. 2006.  Bitcoin also had a period before its Jan 2009 launch wherein it was tested by a smaller group. So thus Facebook is only 8 years old as a public service and has 1.2 billion users. Bitcoin is nearing 6 years old as a public service has about about 1000X less users. Sorry there is no comparison.

[DannyHamilton]

Belongs in Speculation subforum.

[UnunoctiumTesticles]

Belongs in Speculation subforum.

Trying to hide this?

No specific price was speculated in the OP. It discussion about scaling which is not a speculation topic.

[SamTsuedo]

Why does bitcoin need to: "absorb the total global economy"  ? Credit cards don't account for the global economy and still are successful.

If you had done you research about bitcoin, you would know that is an almost exact quote of Satoshi Nakamoto, and one of the most famous ones.

That is not me making this stuff up. Just paraphrasing the man who created bitcoin.

[SamTsuedo]

Belongs in Speculation subforum.

Trying to hide this?

No specific price was speculated. It discussion about scaling which is not a speculation topic.

Yeah, some people here are afraid of the open debates and will only support the post that are in alignment with their almost religious views. I do not have anything personal against bitcoin and have been dealing with it for 2 years now, I just feel it is time to state the obvious, and debate it as men, not blind worshipers.

[Amph]

a man can dream right?

let us dream

[UnunoctiumTesticles]

Let's talk about the reason most people must use Bitcoin?

They must use Facebook, because that is where their friends and family are.

So what is the reason they must use Bitcoin? I haven't been able to find a reason. In all my years of successfully marketing and programming million user software, I know you don't get there without a compelling use case for your product.

What we have here is a bunch of delusional men, thinking they can get rich quick while fighting evil in the monetary system. In short, a massive delusion without a use case.

If I suggest anonymity or decentralized derivatives to actually give use cases, the delusion men attack my ideas. Sigh. Thus competing with Bitcoin is a possibility, although a risky bet.

[Sampey]

So what is the reason they must use Bitcoin? I haven't been able to find a reason.

Because you haven't understand Bitcoin. Very Simple. 

[UnunoctiumTesticles]

So what is the reason they must use Bitcoin? I haven't been able to find a reason.

Because you haven't understand Bitcoin. Very Simple.  

I understand Bitcoin better than all of you do.

Any more unsubstantiated noise you want to add to this thread?

[SamTsuedo]

a man can dream right?

let us dream

Well, you can dream all you want buddy, just don't forget that you gotta wake up sooner or later and face the reality.

[Sampey]

So what is the reason they must use Bitcoin? I haven't been able to find a reason.

Because you haven't understand Bitcoin. Very Simple. 

I understand Bitcoin better than all of you do.

Troll. LOL  
No time to loose with you sorry.  

Let this thread go second page......

[DannyHamilton]

Attempts to predict whether bitcoin will increase or decrease in exchange rate belong in speculation subforum.

holding to a few BTC expecting to become millionaires

estimated to be around $100 trillion including the black markets. If this does not happen BTC will be literally worthless - not even half a cent that it started at.

It will not be worth $10,000 or $100,000 dollars

bought at $700 or $900 dollars, cut your loses

November 2013 was the bubble which will never repeat

it is already calculated into the price.

it will be worthless before 2020.

Sure looks like a discussion about price to me.

I'm not trying to "hide" anything.  If I was, I'd say that the topic should be deleted.  I'm just suggesting that it would better fit in a different sub forum.