This is why bitcoin is crashing

[Bitcoinpro]

Hint

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

1 printer some ink and a blank note

[solomon]

Its cool when a 14 year old learns about bitcoin

[RodeoX]

That's because tulips are basically worthless. They are not fungible, scarce, and they are perishable. Tulips were not the fastest, safest, and cheapest way to spend money anywhere, they were a rediculas choice for storing value.

[QuestionAuthority]

Hint

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

1 printer some ink and a blank note

That plus a couple thousand war planes, battle ships, a million heavily armed loons in matching green outfits, some nuclear weapons and the attitude of, "it's whatever I tell you it is, bitch".

[rax]

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.

There is something, actually. The killer feature of Bitcoin is that it is scarce, something that does not hold true for USD. Nor tulips, for that matter.

And there is no such thing as intrinsic value. Things have some value as long as people want to have them. Consider what happens to a fiat currency during an hyperinflation process. And consider that Bitcoin did not have any kind of value for its first one and a half years of existence... Then it just caught on, spontaneously.

[turvarya]

I did a search for "tulips" in the search box on here yesterday and it crashed bitcointalk.

Yes, there are THAT many threads about tulips.


Please, OP...point out another example.  Got none? Because that's the only one in history.

I typed "tulip bitcoin" into google and it destroyed the internet.

[Bitcoinpro]

Hint

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

1 printer some ink and a blank note

That plus a couple thousand war planes, battle ships, a million heavily armed loons in matching green outfits, some nuclear weapons and the attitude of, "it's whatever I tell you it is, bitch".

[DaveWave]

And consider that Bitcoin did not have any kind of value for its first one and a half years of existence... Then it just caught on, spontaneously.

Like a bubble then.

[dopecoindude]

Just a stupid comment OP. You should be ashamed.

[rax]

And consider that Bitcoin did not have any kind of value for its first one and a half years of existence... Then it just caught on, spontaneously.

Like a bubble then.

Yes! Like the real estate, stock or commodity bubbles markets   Now you get it.

[DaveWave]

Just a stupid comment OP. You should be ashamed.

Maybe flippant but I believe its crashed because there is nothing sacred about bitcoin, for rax to say it just caught on is not a great argument against it.

[Rols]

Its really funny to read the stupid remarks from bagholding people in this thread.  

Bitcoin is a spendable coin, treat it like that and you dont get burned.  If you are stupid then its just your own fault.  

[LiteCoinGuy]

and the end of this story is, that holland is the world leader in flowers today   ! thats the part most people dont tell.

[QuestionAuthority]

Hint

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

1 printer some ink and a blank note

That plus a couple thousand war planes, battle ships, a million heavily armed loons in matching green outfits, some nuclear weapons and the attitude of, "it's whatever I tell you it is, bitch".

 No, it's more like this

[Bit_Happy]

When the crowd notices it is way too late to be selling, then BTC will have a dramatic rally.
Bitcoin is falling because scared people are still selling.

[Rols]

When the crowd notices it is way too late to be selling, then BTC will have a dramatic rally.
Bitcoin is falling because scared people are still selling.

That is the bagholders answere to it. 

[QuestionAuthority]

When the crowd notices it is way too late to be selling, then BTC will have a dramatic rally.
Bitcoin is falling because scared people are still selling.

By "scared people" do mean thieves that don't give a shit what price they sell for?

[ChuckBuck]

Why oh why did I invest into this Bitcoinmania scam?



Man, we should've listened to all the people calling it tulips and ponzi schemes in the first place.

Now my tulips are worth nothing...wait, they're still worth $200?!!?

Fine, I'll hold this bag until the next halving at least...

[Bit_Happy]

When the crowd notices it is way too late to be selling, then BTC will have a dramatic rally.
Bitcoin is falling because scared people are still selling.

By "scared people" do mean thieves that don't give a shit what price they sell for?

Yes, they should be included:
Hopefully, some of the major thieves have finished selling, so those numbers are no longer waiting to be unloaded.

[LiteCoinGuy]