I told you Bitcoin would collapse and now I will tell you why

[revans]

Monumental hubris.

That's what ultimately doomed Bitcoin. Too much circlejerking about how Bitcoin is worth $xxxx and not enough effort to add utility to Bitcoin as a currency to make those numbers realistic.

[Paashaas]

Bitcoin went from $32 to $2 ore $266 to $70....

Now we went from $1200 to rockbottom ~$150, same stuff happening, i expect a new bull market sooner ore later.

[gentlemand]

Monumental hubris.

That's what ultimately doomed Bitcoin. Too much circlejerking about how Bitcoin is worth $xxxx and not enough effort to add utility to Bitcoin as a currency to make those numbers realistic.

O how I wish I'd sat at your feet and had your wisdom wash over me.

There are lots of bright people adding utility. They've failed to get the public en masse excited so far.

[revans]

Bitcoin went from $32 to $2 ore $266 to $70....

Now we went from $1200 to rockbottom ~$150, same stuff happening, i expect a new bull market sooner ore later.

And you prove my point for me.

[Miz4r]

Monumental hubris.

That's what ultimately doomed Bitcoin. Too much circlejerking about how Bitcoin is worth $xxxx and not enough effort to add utility to Bitcoin as a currency to make those numbers realistic.

What do you mean not enough effort to add utility? Have you even seen how much work people have been putting into all kinds of Bitcoin projects? Look at all the developments in the past year alone... just because the speculation forum is just a bunch of people speculating about the price doesn't mean there's not a whole world of people out there who are busy actually doing something productive to help the development of Bitcoin in the real world. If you don't see this you must live in the speculation forum yourself and can't see anything of what's going on outside it.

[okthen]

Monumental hubris.

That's what ultimately doomed Bitcoin. Too much circlejerking about how Bitcoin is worth $xxxx and not enough effort to add utility to Bitcoin as a currency to make those numbers realistic.

I disagree: 2014 had plenty of veeeery boring periods.
Now it's exciting, though not necessarily in the direction I'd like it to be 

[alexrossi]

Bitcoin went from $32 to $2 ore $266 to $70....

Now we went from $1200 to rockbottom ~$150, same stuff happening, i expect a new bull market sooner ore later.

Yes, but not in 1 day, in 1 year, a different type of speculation imho

[NotLambchop]

Monumental hubris.

That's what ultimately doomed Bitcoin. Too much circlejerking about how Bitcoin is worth $xxxx and not enough effort to add utility to Bitcoin as a currency to make those numbers realistic.

You're not wrong...

[revans]

Monumental hubris.

That's what ultimately doomed Bitcoin. Too much circlejerking about how Bitcoin is worth $xxxx and not enough effort to add utility to Bitcoin as a currency to make those numbers realistic.

O how I wish I'd sat at your feet and had your wisdom wash over me.

There are lots of bright people adding utility. They've failed to get the public en masse excited so far.

Really?

Creating new opportunities to get scammed is not  adding 'utility' unless you are a scammer.

Why should the public get excited about being conscripted into making a bunch of neckbeards extremely rich, because that's the only goal for the vast majority of the Bitcoin faithful. All the high-minded verbiage about overthrowing the tyranny of the existing financial order is  fluff.

[mlferro]

Monumental hubris.

That's what ultimately doomed Bitcoin. Too much circlejerking about how Bitcoin is worth $xxxx and not enough effort to add utility to Bitcoin as a currency to make those numbers realistic.

I disagree: 2014 had plenty of veeeery boring periods.
Now it's exciting, though not necessarily in the direction I'd like it to be 

I am also with this feeling.

[revans]

Monumental hubris.

That's what ultimately doomed Bitcoin. Too much circlejerking about how Bitcoin is worth $xxxx and not enough effort to add utility to Bitcoin as a currency to make those numbers realistic.

What do you mean not enough effort to add utility? Have you even seen how much work people have been putting into all kinds of Bitcoin projects? Look at all the developments in the past year alone... just because the speculation forum is just a bunch of people speculating about the price doesn't mean there's not a whole world of people out there who are busy actually doing something productive to help the development of Bitcoin in the real world. If you don't see this you must live in the speculation forum yourself and can't see anything of what's going on outside it.

Ok, I'll bite.

What new services have emerged in the Bitcoin ecosystem in the last 12 months which you deem to be offer the general public a service which is

1. As easy or easier to use than any existing system

2. As cheap or cheaper than any existing system

3. As reliable or more reliable than any existing system

[Miz4r]

Monumental hubris.

That's what ultimately doomed Bitcoin. Too much circlejerking about how Bitcoin is worth $xxxx and not enough effort to add utility to Bitcoin as a currency to make those numbers realistic.

What do you mean not enough effort to add utility? Have you even seen how much work people have been putting into all kinds of Bitcoin projects? Look at all the developments in the past year alone... just because the speculation forum is just a bunch of people speculating about the price doesn't mean there's not a whole world of people out there who are busy actually doing something productive to help the development of Bitcoin in the real world. If you don't see this you must live in the speculation forum yourself and can't see anything of what's going on outside it.

Ok, I'll bite.

What new services have emerged in the Bitcoin ecosystem in the last 12 months which you deem to be offer the general public a service which is

1. As easy or easier to use than any existing system

2. As cheap or cheaper than any existing system

3. As reliable or more reliable than any existing system

1. There are no services that make it easier than existing systems yet, we are still in the early internet days of Bitcoin or crypto in general.  These things take time, but I do know there are lots of people busy working on this and there is progress.

2. It's already cheaper (and faster) if you want to send money across borders. It's also cheaper for merchants than any other existing system, which is why microsoft and many others have been adopting it the past year. You think they're all mistaken? They wouldn't do it if they didn't see any advantages over the existing system.

3. Depends what you mean exactly with reliable, this is highly subjective. For me it's very reliable and fast.

Anyway lots of services have sprung up around Bitcoin this year and this is only accelerating, look around yourself I would suggest instead of me doing all the work for you. There is a big world out there outside of the speculation forum.

[inigthz]

Monumental hubris.

That's what ultimately doomed Bitcoin. Too much circlejerking about how Bitcoin is worth $xxxx and not enough effort to add utility to Bitcoin as a currency to make those numbers realistic.

Collapse ??

So, Bitcoin is company ?? 

[Elwar]

Re: I told you

I know you are but what am I?

[NotLambchop]

...
1. There are no services that make it easier than existing systems yet, we are still in the early internet days of Bitcoin or crypto in general.  These things take time, but I do know there are lots of people busy working on this and there is progress.

Six years old.  Still in beta.  Development stalled.  Hardfork being discussed to patch the 7tps absurdity.  What the fuck have they been so busy doing?

2. It's already cheaper (and faster) if you want to send money across borders. It's also cheaper for merchants than any other existing system, which is why microsoft and many others have been adopting it the past year. You think they're all mistaken? They wouldn't do it if they didn't see any advantages over the existing system.

Microsoft has not adopted Bitcoin, it has accepted a new payment processor, i.e. a free way to (possibly) get more dollars.  Microsoft still accepts real money just fine, so again no, it does not see Bitcoin's "dvantages over the existing system."

3. Depends what you mean exactly with reliable, this is highly subjective. For me it's very reliable and fast.

Yeah, and Down Syndrome child is brilliant to its mother.  Not to too many other folks, tho.

Anyway lots of services have sprung up around Bitcoin this year and this is only accelerating, look around yourself I would suggest instead of me doing all the work for you. There is a big world out there outside of the speculation forum.

So you got nothing.

[Miz4r]

I do agree with the hubris part though, too many delusions of getting rich by doing nothing and just hodling. But it is equally delusional to think that now Bitcoin is doomed just because the price has dropped and the hubris is getting flushed out of the system. Too bad for those who bought at $1000, but that should teach people not to overinvest. It's going to take some more years for Bitcoin to find its right place in the world, and who knows what the market will value it at then. Let's speculate.

[ssmc2]

Ignored.

[Paashaas]

Bitcoin went from $32 to $2 ore $266 to $70....

Now we went from $1200 to rockbottom ~$150, same stuff happening, i expect a new bull market sooner ore later.

Yes, but not in 1 day, in 1 year, a different type of speculation imho

From bull to bear market, each with other timelines but in the end the circle will being restarted again.

[ThatDGuy]

It's going to take some more years for Bitcoin to find its right place in the world, and who knows what the market will value it at then. Let's speculate.

Higher than right now by a good bit.

[Miz4r]

Yeah, and Down Syndrome child is brilliant to its mother.  Not to too many other folks, tho.

If that's your opinion, that's fine dude. Nobody forces anyone to like Bitcoin or use it. I happen to like it and see its main advantage as a democratic form of money. If people don't want to have more control over their money, then Bitcoin is probably doomed but that question is still up in the air. I don't care about the current price as much as I care about the bigger picture I see developing for the future. You may have a different picture for the future, and we will probably never agree on that so I don't see the use in arguing about it. Maybe you can tell me 'I told you so' in some years down the road, and then I will happily shake your hand and laugh about these times. My personal ego is not at stake here. But whether it's Bitcoin or something else, I will always keep fighting for a more democratic monetary system out of the hands and control of a centralized power. You can call me a cultist if you like, but then everyone who believes in something is. What is it you believe in, or have you become so jaded and cynical that there's nothing in this world worth believing in anymore?

So you got nothing.

Yes I got nothing. Congratulations.