Stop your BTC cheerleading and mass delusion and face the reality

[dinofelis]

Well the idea idea of cryptocurrency is here to stay.
Cryptocurrency is very convinient and secure.
The question is will it bitcoin?
I think the answer is yes because businesses like overstock.com and microsoft have already started accepting it and they probably don't feel like the minor changes other crypto currencies offer are worth the hassle of switching.

Accepting it is one thing, actually holding it in their cash reserves is another.

In most cases 'Accepting' just seems to mean autoconverting to dollars with bitpay - except for overstock which is actually claiming to hold some - are there any others?

It is a first step.  Of course you first accept and auto-convert, because for those retailers, most of their suppliers (including their human ressources) must be paid in fiat for the moment.  However, if more and more businesses (including the suppliers of those retailers) start accepting bitcoin, then it can become interesting for those retailers to pay their suppliers ALSO directly in bitcoin, and then the incentive to convert to fiat will be less.

Right now, a retailer cannot do much with bitcoin, so it is normal for them to convert to fiat, as that is what they need to use for their business.  But as more and more businesses will accept bitcoin, there will be less and less incentive for them to convert coins to fiat.  At a certain point, it will become interesting to get paid in coins too (at least part of your salary).  But that's still far away.

[1714257922]

1714257922

[1714257922]

1714257922

[smoothie]

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

21,000,00 * 0.005 = $105,000

LOL I'll throw in $105,000 if they get there and even then I can't buy them all because of lost bitcoins or unmined coins.

Your point is invalid as someone with a little money could buy up all the BTC in existence for a small price.

Please go back to the rock you came out from under. 

[fewcoins]

^ This would never happen since there are already 100s of thousands of people who said they will never sell... They will keep trying to buy the entire way down so logically we really can't break this triple digit level EVER 

[BlindMayorBitcorn]

[oblivi]

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.

Yes, it's a 50%-50%, its a revolution or it becomes deprecated.

Do you really want to miss on such potential boat? Everyone not owning at least a couple Bitcoin is mentally insane, period.

[Silverspoon]

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.

Yes, it's a 50%-50%, its a revolution or it becomes deprecated.

Do you really want to miss on such potential boat? Everyone not owning at least a couple Bitcoin is mentally insane, period.

Introductory statistics:  When dealing with problems having binary outcomes, like "you either become a gazillionaire or you don't" the odds aren't always 50/50.
Introductory linguistics & psychology:  "mentally insane" is redundant.  Only crazy people talk like that.

[Paashaas]

crypto currency is mainstream.

You are so wrong and needs a real reality check.


Oh no, another troll who whants to get in cheaper...

[JimboToronto]

November 2013 was the bubble which will never repeat again.

"The" bubble? Singular? LOL



So many bubbles.

[Meuh6879]

Bubble ?



(where i can find this things ? )

[magicmexican]

tl;dr version - "cut ur loose"

[Wandererfromthenorth]

Bitcoiners expect exponential rises to continue ad infinitum.
They don't care if at these prices it takes an amount of new fiat that is ridiculously higher than when it was at $1.
Don't bother considering problems with Proof-of-Work, the huge inflation and apparent inexistent current demand. Logic is for weak hands!
To 1 quadrillion we go.

[alexeft]

Oh my! My ignore list is probably bigger than the blockchain itself!!! 

Anyone care to invest in it? (my ignore list that is!  )

[smoothie]

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.

This is what I find entertaining about people who post about what they know pretty much nothing about. They say the stupidest things lol.

Cryptocurrency isn't mainstream ....yet. lol

LOL @ OP for the good laugh.

[smoothie]

November 2013 was the bubble which will never repeat again.

"The" bubble? Singular? LOL


So many bubbles.

OP doesn't realize that was what was claimed after the June 2011 bubble. "It would never happen again".


Less than 2 years later....whoops!! 

[smoothie]

Bitcoiners expect exponential rises to continue ad infinitum.
They don't care if at these prices it takes an amount of new fiat that is ridiculously higher than when it was at $1.
Don't bother considering problems with Proof-of-Work, the huge inflation and apparent inexistent current demand. Logic is for weak hands!
To 1 quadrillion we go.

Fiat currency is going to infinity ...(no limit)....so bitcoin will compensate for all of the new found created pulled out of their ass toilet paper in its price.

[BlindMayorBitcorn]

Not until the insane bit inflation ends

[Lauda]

Not until the insane bit inflation ends

It gets lower and lower with each halving.
Reward-Drop ETA: 2016-07-31 07:48:42 UTC (82 weeks, 5 days, 12 hours, 40 minutes)
It's coming sooner and sooner each day as the average block generation rate is under 10 minutes.

By then the adoption will be amazing as well.

[BlindMayorBitcorn]

Not until the insane bit inflation ends

It gets lower and lower with each halving.
Reward-Drop ETA: 2016-07-31 07:48:42 UTC (82 weeks, 5 days, 12 hours, 40 minutes)
It's coming sooner and sooner each day as the average block generation rate is under 10 minutes.

By then the adoption will be amazing as well.

Have you started buying yet?

[kaykawa]

People who say everything is dead and everything is this and that.. and expect the worse.. You are the people who would do this same shitty system over and over again for your own advance.

[marcus_of_augustus]

Not until the insane bit inflation ends

It gets lower and lower with each halving.
Reward-Drop ETA: 2016-07-31 07:48:42 UTC (82 weeks, 5 days, 12 hours, 40 minutes)
It's coming sooner and sooner each day as the average block generation rate is under 10 minutes.

By then the adoption will be amazing as well.

adoption will come in waves.

Bit inflation is now around 10% (annualised rate) and dropping. I.e. Already harder than some nation state fiat currencies.