Even CoinDesk is giving up on bitcoin

[dontbesilly]

Coindesk.com is a perma-bull bitcoin news website, they only talk about how good bitcoin is, how bitcoin is going to the moon stuffs, as you can see even now they don't mention a word at all about the recent $200 bitcoin flash crash situation

However, check about their website head lines now and you can see:

1: talking about bitcoin exchangers are going to close soon in 2015
2: talking about bitcoin 2.0 (NextCoin, Ethereum, Ripple XRP etc..) is going to replace bitcoin


Everyone including more and more ex-permabulls are abandoning the ship today,
$1100 - $900  -$800 permabulls said: This is the bottom, the support is strong, Buy!
$800   - $500 -$600 permabulls said: This is the bottom, the support is strong, Buy!
..
$300   - $250 -$270 permabulls said: This is the bottom, the support is strong, Buy!
..
$150   - $50 -$70    permabulls will say: This is the bottom, the support is strong, Buy!
$3      - $0.1 -$0.2  permabulls will say: This is the bottom, the support is strong, Buy!
$0.2   - $0.xxxx?     permabulls won't say anything because the website is HTTP 404 Server Not Found and domain name is for sale!

https://i.imgur.com/IWMhWoc.jpg

[seleme]

Don'tbesilly.

[micky123]

I dont think you should read too much into this. Coindesk is not a BTC propaganda machine like Russia!  
Since they are a website that reports on Bitcoin in general, it is but natural that they should talk about the negatives too. With the gloom all around concerning the drop in price of BTC, people tend to start focusing more on the negative aspects, this is human tendency so there really is nothing here to be afraid of, they are not ringing the final bell on bitcoin (yet).  

[relm9]

I just went on Coindesk, the first article is 'Why Some Bitcoin Exchanges Might Die in 2015'

Also, they probably don't work weekends.

[smoothie]

Lol you are reading too much into what they post. And in the end coin desk doesn't determine the fate of Bitcoin....the free market does.

[innocent93]

If Bitcoin were dead, then cryptocurrency won't survive.

Technically Bitcoin and other bitcoin 2.0s are the same with the same basic technologies: BlockChain,Decentralized/Anonymous design...2.0 is just a Bitcoin-Improved version, and what most people know about cryptocurrency is only Bitcoin , most of them don't even know what is NextCoin, Ethereum....

[dontbesilly]

If Bitcoin were dead, then cryptocurrency won't survive.

Technically Bitcoin and other bitcoin 2.0s are the same with the same basic technologies: BlockChain,Decentralized/Anonymous design...2.0 is just a Bitcoin-Improved version, and what most people know about cryptocurrency is only Bitcoin , most of them don't even know what is NextCoin, Ethereum....

coindesk is telling you bitcoin ends up with $0.xxxxx because bitcoin will be replaced
and NextCoin or Ethereum or others 2.0 coin will hit $1000 or more

[smoothie]

If Bitcoin were dead, then cryptocurrency won't survive.

Technically Bitcoin and other bitcoin 2.0s are the same with the same basic technologies: BlockChain,Decentralized/Anonymous design...2.0 is just a Bitcoin-Improved version, and what most people know about cryptocurrency is only Bitcoin , most of them don't even know what is NextCoin, Ethereum....

coindesk is telling you bitcoin ends up with $0.xxxxx because bitcoin will be replaced
and NextCoin or Ethereum or others 2.0 coin will hit $1000 or more

Then I guess if what you say is true, Coindesk and its investors are buying up NXT, Ethereum etc right?

Oh wait...prices still in the dumps. 

[kwukduck]

Bitcoin is taking a heavy beating at the moment.
But that article from coindesk is just largely hilarious, most of the projects cited are complete jokes.

[MatTheCat]

Lol you are reading too much into what they post. And in the end coin desk doesn't determine the fate of Bitcoin....the free market does.

Coindesk feeds Kool-Aid to the Kool-Aid merchants and keeps their hopes alive, leaving them holding the bag, as everyone else bails out.

If Bitcoin were dead, then cryptocurrency won't survive.

Technically Bitcoin and other bitcoin 2.0s are the same with the same basic technologies: BlockChain,Decentralized/Anonymous design...2.0 is just a Bitcoin-Improved version, and what most people know about cryptocurrency is only Bitcoin , most of them don't even know what is NextCoin, Ethereum....

Dunno about that.

Bitcoin is already:

Far too slow for transactions to clear
Far too energy intensive to mine and thus far too expensive for the p2p network to be maintained
Overpriced and thus, overmined in relation to adoption

If it turns out that Bitcoin 1.0 was miscalibrated, then I would fully expect a Bitcoin 2.0 of some description to emerge which corrects Bitcoins errs. If Bitcoin fades away, I would keep my eye on the Darknet markets to see which crypto they are using for pointers.

[Elwar]

Welcome to Bitcoin!

You may want to stop by the Beginner Help section here:
https://bitcointalk.org/index.php?board=39.0

[inca]

Lol you are reading too much into what they post. And in the end coin desk doesn't determine the fate of Bitcoin....the free market does.

Coindesk feeds Kool-Aid to the Kool-Aid merchants and keeps their hopes alive, leaving them holding the bag, as everyone else bails out.

If Bitcoin were dead, then cryptocurrency won't survive.

Technically Bitcoin and other bitcoin 2.0s are the same with the same basic technologies: BlockChain,Decentralized/Anonymous design...2.0 is just a Bitcoin-Improved version, and what most people know about cryptocurrency is only Bitcoin , most of them don't even know what is NextCoin, Ethereum....

Dunno about that.

Bitcoin is already:

Far too slow for transactions to clear
Far too energy intensive to mine and thus far too expensive for the p2p network to be maintained
Overpriced and thus, overmined in relation to adoption

If it turns out that Bitcoin 1.0 was miscalibrated, then I would fully expect a Bitcoin 2.0 of some description to emerge which corrects Bitcoins errs. If Bitcoin fades away, I would keep my eye on the Darknet markets to see which crypto they are using for pointers.

Welcome back. I am not aware of any darknet sites using any crypto other than btc. Are you?

[MatTheCat]

Welcome back. I am not aware of any darknet sites using any crypto other than btc. Are you?

Nope.

I am saying if and when it transpires that Bitcoin was irredeemably miscalibrated, the clues on which crypto might emerge to become Bitcoin 2.0, will be found on which alternatives are being used on the Darknet sites.

Don't underestimate the impact that Silk Road had on promoting Bitcoin.

P.S. I aint back, not yet. Just finally decided to taunt 'dropt' for laughing at me when I suggested that that the final bottom would be in the $200 range. I must admit that I have pondered on whether to take another bite at the cherry at these prices but my better instincts at this point are telling me to keep the fuck away, so keep the fuck away is what I am going to do.

If this were any other commodity, then $270 would be a screaming raging buy considering that just over 1 year ago, it was $1200 per pop. But unlike silver, gold, oil, grains, etc etc.....Bitcoin does not need to exist at an absolute minimum price. It really could go into oblivion and humanity would be none the worse off (aside from those who lose their shirts during the proceedings). This is not over yet.

[samuel999]

Some of the altcoins have good ideas for sure.  Doing away with the PoW, alternate uses, etc.  I can see the vote of confidence in them.

[waaat?]

bitcoin has obvious problems with the long halvings and for that reason will get off the ground more like next decade, not this one - that's how it was designed.

By then people will be on another coin which can hold its value today already... the decade-long inflation-problem built into bitcoin is completely unnecessary and basically would prevent the tech get off the ground the minute it is created.

Bitcoin is like: "we have this revolutionary new tech here, but it will not be profitable for investors before next decade"
That's Bullshit. Now what can crypto-tech do? Burning peoples money away is not magic or an achievement. Creating profits would be a thing one would expect from the new tech. Bitcoin is just not good for that. Uses lots of recources just to run, constant bloody waterfalls - and they will not stop soon. Too volatile.
The halvings, people - 4 years is just way too long.  
Remember: it's all just an experiment


I'll buy me some coins right now with faster halvings as they from my standpoint provide the solution.

[cr1776]

Says a new user who just created this account to post FUD.

[waaat?]

Says a new user who just created this account to post FUD.

yeah, call me a credit-card shill next Mr. Smartass.
If the content of my comments is judged by my memberstatus you fail. 

[piramida]

First of all, bitcoin halvings period, PoW, hashing algo etc etc can all be changed if there will be at least a tiny bit of reason to do so. The fact that numerous alts (which have the sole purpose to make some money for their creators) implement some of those changes does not mean that they are better - you don't stick a rocket in your ass and claim that you are better than a Ferrari - you will be faster, for a while, but that's it. Nobody will be using you for transportation, sorry.

Second of all, do you truly believe that dumb trolls who registered yesterday already know how new currency gets from idea to a world-wide product much better than people who spent last 6 years thinking about it? Go on, continue public display of hot air inside your heads, is that why you create new account every day? Since you are afraid to be associated with the idiotic rubbish you post here? Don't answer, it is a rhetorical question.

[tutkarz]

Bitcoin could be replaced by crypto 2.0 if there would be only one. But there is plenty of them, each offering something different and because of that none of them will be next-bitcoin. Bitcoin on the other hand will remain crypto-gold-coin that will link them all because it is and will be simple, rock solid and reliable.

[Parazyd]

"Every now and then, the Bitcoin God cuts away the weak hands from the tree."