The sad truth about Bitcoin

[flipstyle]

As we can clearly see it has not been a good investment this year.  Rich people threw a lot of money at them as some sort of get even richer scheme.

2014 a Bad year for BTC investment for what specific reason? The 2014 Average is 3x higher than the 2013 average. The market price right now as it is dropping is still almost 2x above the 2013 average.

You are kidding right? All that matters to anyone that gets paid in bitcoin is the value of the bitcoin at the time they were paid and the value of bitcoin now (or when they exchanged it for fiat or goods if they have already done so). Someone that is trying to make a living is not going to care about any kind of average

The price of Bitcoin will drop to 30-50 USD within the next year.  Bitcoin is about to take another serious nose dive.

Would you care to make a wager on that?  
I would match any amount of Coins you put up that you're wrong, we can use a trusted escrow if you want to hold  it lol

I have no Bitcoins to wager.  If I did, I would be cashing out right about now.  I think we are going to be seeing it in the 250 range maybe within 30 days.

I was right.  It did happen a little faster than I thought.  I’m still new to Bitcoin.  In fact, I still don’t own any.  I’ve been watching the price of Bitcoin very closely for a few months.  I feel that I can accurately predict what the price of Bitcoin will be.  I don’t have any software or anything like that.  I don’t even read much about Bitcoin.  I watch the price flucuations and make my predictions based on them.

I’m not sure about my prediction in a year.  The problem is… so much can change between now and then.  I do think Bitcoin needs to be priced between 30-50 for it to be healthy.

I’m not ready to say where I think Bitcoin will be in the next month.  I certainly wouldn’t be holding onto Bitcoins as an investment.  I’d only have some to buy stuff with them.  

Don't think it was that hard to foretell.  The trend has been consistently downwards over majority of the past year.  No giant positive news and several top exchanges get hacked or close up shop.  The question is...where is the bottom, and who is willing to try and catch a falling sword?

Reminds me all too much of silver.  If bitcoin breaks 200 resistance, there could be a huge free fall ahead in a long bear market.

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[Agestorzrxx]

I've come to realize that Bitcoin is either for the rich or for poor people picking up the smallest of crumbs.  There seems to be very few people in the middle.  If this doesn't change... Bitcoin and cryptocurrency in general is doomed.

Not all of us.

[cyberpinoy]

I've come to realize that Bitcoin is either for the rich or for poor people picking up the smallest of crumbs.  There seems to be very few people in the middle.  If this doesn't change... Bitcoin and cryptocurrency in general is doomed.

Yes you are correct, the ones that gotr lucky and hit it big are soaking up the sun, the ones that are struggling now to secure thier investment are working hard. Its the same thing over and over here in the bitcoin community, Ill get rich and watch as you strugle, i wont offer tohelp, I wont give you aid unless the advice I can give you will benefit me in the end. Nothing is free in life and in bitcoins its even worse, they will charge you for hat you need then make a referral bonus from everything you do they advised you to do. We have a but ton of hacking morons destroying our businesses, rich greedy assholes who never help anyone. Literally if you want to make it here, you will do it on your own. scraping the crumbs left behind by the fools with all the bitocins in their wallets acting like they are someone who deserves respect.

[GratefulCoin]

As we can clearly see it has not been a good investment this year.  Rich people threw a lot of money at them as some sort of get even richer scheme.

2014 a Bad year for BTC investment for what specific reason? The 2014 Average is 3x higher than the 2013 average. The market price right now as it is dropping is still almost 2x above the 2013 average.

You are kidding right? All that matters to anyone that gets paid in bitcoin is the value of the bitcoin at the time they were paid and the value of bitcoin now (or when they exchanged it for fiat or goods if they have already done so). Someone that is trying to make a living is not going to care about any kind of average

The price of Bitcoin will drop to 30-50 USD within the next year.  Bitcoin is about to take another serious nose dive.

Would you care to make a wager on that?  
I would match any amount of Coins you put up that you're wrong, we can use a trusted escrow if you want to hold  it lol

I have no Bitcoins to wager.  If I did, I would be cashing out right about now.  I think we are going to be seeing it in the 250 range maybe within 30 days.

I was right.  It did happen a little faster than I thought.  I’m still new to Bitcoin.  In fact, I still don’t own any.  I’ve been watching the price of Bitcoin very closely for a few months.  I feel that I can accurately predict what the price of Bitcoin will be.  I don’t have any software or anything like that.  I don’t even read much about Bitcoin.  I watch the price flucuations and make my predictions based on them.

I’m not sure about my prediction in a year.  The problem is… so much can change between now and then.  I do think Bitcoin needs to be priced between 30-50 for it to be healthy.

I’m not ready to say where I think Bitcoin will be in the next month.  I certainly wouldn’t be holding onto Bitcoins as an investment.  I’d only have some to buy stuff with them.  

Don't think it was that hard to foretell.  The trend has been consistently downwards over majority of the past year.  No giant positive news and several top exchanges get hacked or close up shop.  The question is...where is the bottom, and who is willing to try and catch a falling sword?

Reminds me all too much of silver.  If bitcoin breaks 200 resistance, there could be a huge free fall ahead in a long bear market.

The bottom will be when we reach 30-50.  That is a sustainable price for Bitcoin.

I’m ready to make my prediction for the next month.  The price of Bitcoin will drop to 175 within roughly 30 days.

[Aemon]

The bottom will be when we reach 30-50.  That is a sustainable price for Bitcoin.

I’m ready to make my prediction for the next month.  The price of Bitcoin will drop to 175 within roughly 30 days.

What happens after that, does it crash completely or stable off then slowly increase as time goes on?

[Mewtwo]

Is it me or have these topics decreased in quality lately?

[gog1]

Is it me or have these topics decreased in quality lately?

The poster didn't elaborate his position - but I guess he's meaning the latest entrants into the space is either the ultra-rich or just poor folks try to strike rich quick.

[mindrust]

I guess it doesnt make any sense to mine btc's anymore from this point. Even with free electricity, its probably going to take too long to roi miner hardware costs.

People thought if they spend electricty or something has an actual value, with the mining difficulty constantly rising, btc should have been going only for one way: up. Guess what?

It failed.

[GratefulCoin]

The bottom will be when we reach 30-50.  That is a sustainable price for Bitcoin.

I’m ready to make my prediction for the next month.  The price of Bitcoin will drop to 175 within roughly 30 days.

What happens after that, does it crash completely or stable off then slowly increase as time goes on?

This is actually a very good question.  It made me think for a bit.  We will know when the price of Bitcoin becomes stable.  When there is very little fluctuation in price.  That is when we know we’ve hit the bottom.  I believe this will happen at around 30-50.  I think an argument could be made that it will happen once the price is around 1-10.

This is not the time to invest in Bitcoin.  Some people maybe able to make money off the swings in price.  But, that’s too risky for most people.  I would advise people to continue to use Bitcoin.  Just don’t hold onto them.  The best thing for the future of Bitcoin is to spend them right away.

[SmartBit]

I disagree but I understand what makes you say that - The large majority of bitcoin holders are not in the middle class.


But I think you have to remember that the middle class doesnt really exist anymore; everyone is either rich or poor; and bitcoin is just reflecting that (even less than the real world I would say)

[LordSonjai]

I just smoked a marijuana cigar.
I feel much better now. I swear,these marijuana withdrawals make me doubt my judgement.

This is a good call,bitcoin is the future.

Anyway,uh.

Greed. That really describes it all,its the bitcoin game in a nutshell really.

[Aemon]

What is Bitcoin going to go to as far as value goes?  I see it dropped below 200 now and it is getting scary!

[Bitcoinpro]

What is Bitcoin going to go to as far as value goes?  I see it dropped below 200 now and it is getting scary!

scary for who exactly

maybe you could consult your translator for this answer

[siameze]

The disparity between the rich and poor with Bitcoin is by far greater than any fiat currency in existence.  It will not survive if this remains true.

Hmm, that air carries the sweet smell of opportunity.  Stop complaining and start offering some goods or services that the "rich" might wish to purchase and pay for with Bitcoin.

>

Agreed. It gets old "watching the clock". Just take the time and learn how Bitcoin the technology works during these slumps. There is far more to it than just an fiduciary instrument, and if you only see it that way then you are shortchanging yourself.



EDIT: Welcome to the forum NewBTCGuy. Every once in a while we get a newbie that gets it.

[calme]

I see it dropped below 200 now and it is getting scary!

Maybe a marijuana cigar would change your mind

[izanagi narukami]

The bottom will be when we reach 30-50.  That is a sustainable price for Bitcoin.

I’m ready to make my prediction for the next month.  The price of Bitcoin will drop to 175 within roughly 30 days.

This kindda scary, bitcoin value really drop recently.
But I still having a faith on bitcoin

What is Bitcoin going to go to as far as value goes?  I see it dropped below 200 now and it is getting scary!

scary for who exactly

for us, bitcoin holder 

[Aemon]

I see it dropped below 200 now and it is getting scary!

Maybe a marijuana cigar would change your mind

Lol, why on earth would that make me change my mind?  I see it dropping under $100 by the end of the month.  I might buy at that time, I haven't decided.

[GratefulCoin]

What is Bitcoin going to go to as far as value goes?  I see it dropped below 200 now and it is getting scary!

I’ve predicted it would drop to between 30-50 this year.  It all seems in kind of a freefall right now.  The important thing to understand is that we’ve already seen the highs for this year.  The year will end significantly lower than it started.

[wesk1212]

I went to the casino and saw that Roulette is only good for the rich. I saw a guy put all of his money on 12 and it hit. Now he is rich.

Roulette is doomed.

You post pathetic posts all the time.
Bet uour on btc to pay your college education u couldnt afford lol
So dumb
Your. Brain

[pbleak]

180 now. That's a point where you can begin to see a proper plunge. If we see downward trends from here we might see 150 in the week which could be quite interesting in getting new adopters.