This is why bitcoin is crashing

[cyberpinoy]

Oh great. Another tuplipmania analogy by a newb. They're completely different as has been explained zillions of times.

Yes your are so very right, there is an actual demand for tulips people need them and want them for a real reason, to landscape their houses, what was bitcoins demand again ...Oh yea NOTHING. It does not hafve a real demand. and the real purpose it serves no one even pays attention to.

If I a so wrong why is your precious bitcoins under 200 bucks HAHAHA. Where all these veterans who said " thanks for the cheap coins. there you go vets you cheap coins are there and your STILL NOT REALLY BUYING ANY, your dumpoing just as fast as everyone else HAHAHA.

SO for a newb he knows a lot more than you huh?

[Bitcoinpro]

btc and ltc are the strongest therefore exponentially worth more than alts

we don't have our own coin each because team work is far superior

But alts are worth nothing

you made a metaphor for my second line

[rax]

I repeat, bitcoin per se cannot have value, it is not an asset. It's data on hard drives, end off.

Lol. Guess who didn't do his homework 

[DaveWave]

Lol. Guess who didn't do his homework 

err, you

[rax]

Lol. Guess who didn't do his homework 

err, you

Just for our enlightenment and entertainment, what's exactly on my hard drive?

[H.W.Z]

They are different! Bitcoin is new innovation not recognized widely yet! There are a lot of negative news coming out and driving down the price recently!

[Q7]

No the first bulb will always maintain the true value. The rest of those that comes out from the first are the ones which don't hold any value. Eventually people will realize that.

[DaveWave]

Just for our enlightenment and entertainment, what's exactly on my hard drive?

How would I know?

[rax]

Precisely  You've been proving that you have no idea how the Bitcoin network actually works. Go read up before opening silly topics like this one. Thank you.

[DaveWave]

Precisely   You've been proving that you have no idea how the Bitcoin network actually works. Go read up before opening silly topics like this one. Thank you.

I think I said bitcoin is purely data, which in turn is stored on a disk, albeit distributed across many machines. Never said anything about your hard disk other than I don't know what's on it so apologise at your leisure.

Anyway, this is off topic, the point is bitcoin is as valuable as a tulip bulb. (I mean intrinsic value, I know it's currently worth $200)

[llanillo]

This should be in off topic....

and bitcoin is crashing because cryptodouble scammers are selling all their bitcoins even cheap because they dont care about nothing

[Bitcoinpro]

Precisely   You've been proving that you have no idea how the Bitcoin network actually works. Go read up before opening silly topics like this one. Thank you.

I think I said bitcoin is purely data, which in turn is stored on a disk, albeit distributed across many machines. Never said anything about your hard disk other than I don't know what's on it so apologise at your leisure.

Anyway, this is off topic, the point is bitcoin is as valuable as a tulip bulb. (I mean intrinsic value, I know it's currently worth $200)

the intrinsic value is the price of all the mining equipment, peoples computers, their education, their food they ate in their lifetime, their generational history,

you really picked the wrong word,

now lets look at the intrinsic value of a tulip, its a seed you drop in the ground walk away come back and its their,

[DaveWave]

This should be in off topic....

and bitcoin is crashing because cryptodouble scammers are selling all their bitcoins even cheap because they dont care about nothing

Or is it chinese miners selling to pay their bills

Or is it the lack in demand with the closure of silk road

Or is it the likely crack down post Paris massacre as to prevent funds reaching ISIS

Or is it the general feeling that this was a bubble, fed by the fears of a global economic collapse that doesn't appear to have happened. e.g. Investors not wanting to be in any currency bought anything tangible, creating spikes in oil, food and bitcoin?

[Frigga77]

I'm Dutch and this is utter ridiculous analogy.

At the time bulb growers thought the price would keep going up. When the market went down they thought it was a blip.

The analogy is this is a bubble that has popped. Where is it ridiculous.

You are 13 months late with your theory.

[fox19891989]

I sense you are in the newb troll phase  . Bitcoins aren't comparable to tulips because you can't send tulips around the world in seconds for little to no fee. Just because the price is low doesn't mean the denial face is operational. Give it time newb then we'll see who's right.

It's the internet that sends thing round the world instantly and computers that enable cheap transactions. To capitlise Bitcoin in billions is why its like tulips.

And what is it that processes those transactions? The blockchain. Do tulips have a blockchain? No. As for bitcoins being a store of wealth they store their 1btc wealth pretty good. 1btc is always worth 1btc, what others pay in fiat for it is a different matter.

Yes, BTC is innovative and has blockchain technology, it will change the world, but the tulips have nothing, only for decoration?

[DaveWave]

the intrinsic value is the price of all the mining equipment, peoples computers, their education, their food they ate in their lifetime, their generational history,

you really picked the wrong word,

now lets look at the intrinsic value of a tulip, its a seed you drop in the ground walk away come back and its their,

So my car should be worth a fortune now then? I mean I paid for the factory to make it, 20 years of servicing, all that petrol I put in it etc. But when I go to sell it I'm told its only worth 200.

Go figure!

[rax]

I think I said bitcoin is purely data, which in turn is stored on a disk, albeit distributed across many machines. Never said anything about your hard disk other than I don't know what's on it so apologise at your leisure.

Seriously dude, go read how it all actually works.   Bitcoins are not data stored on a disk. Not even "distributed data across many machines".

Hint it resembles this: http://en.wikipedia.org/wiki/Rai_stones

Anyway, this is off topic, the point is bitcoin is as valuable as a tulip bulb. (I mean intrinsic value, I know it's currently worth $200)

There is no such thing as "intrinsic value". What's the intrinsic value of a $100 bill?

[Bitcoinpro]

the intrinsic value is the price of all the mining equipment, peoples computers, their education, their food they ate in their lifetime, their generational history,

you really picked the wrong word,

now lets look at the intrinsic value of a tulip, its a seed you drop in the ground walk away come back and its their,

So my car should be worth a fortune now then? I mean I paid for the factory to make it, 20 years of servicing, all that petrol I put in it etc. But when I go to sell it I'm told its only worth 200.

Go figure!

1 BTC

[llanillo]

This should be in off topic....

and bitcoin is crashing because cryptodouble scammers are selling all their bitcoins even cheap because they dont care about nothing

Or is it chinese miners selling to pay their bills

Or is it the lack in demand with the closure of silk road

Or is it the likely crack down post Paris massacre as to prevent funds reaching ISIS

Or is it the general feeling that this was a bubble, fed by the fears of a global economic collapse that doesn't appear to have happened. e.g. Investors not wanting to be in any currency bought anything tangible, creating spikes in oil, food and bitcoin?

- Yeah maybe

- Hmmm possibly

- Wait wut?

- Hmmm yeah that's the reason.. you won.. congrats

[DaveWave]

There is no such thing as "intrinsic value". What's the intrinsic value of a $100 bill?

It was created to fund something, a mortgage or spending on something. So in theory it's worth something in an economy. Sure you got governments printing money etc but market forces keep some check on this or otherwise governments couldn't borrow much.

It's not perfect, but there is nothing behind bitcoins value at all other than speculation, or a need to use it to avoid detection. Drugs, money laundering etc.