Bitcoin Suicide / Kill ?

[ramkumar]

Hi,

Bitcoin failed to stop manipulation and control the mass down.

is this suicide / killed by any factor like bitstamp, bulls, difficulty etc., ?

just curious to know from bitcoin socialist.

[wobber]

Hi,

Bitcoin failed to stop manipulation and control the mass down.

is this suicide / killed by any factor like bitstamp, bulls, difficulty etc., ?

just curious to know from bitcoin socialist.

Killed by the 90% of the stupid day-trading sheeps that had their coins at centralized exchanges for years, in Mtgox, Bitstamp, etc. And by the over-the-night CEO/COO, C-my-ass dragqueens like Ver, Karples and other scammers. At no point in the whole history there was a system subjected to such scams, thefts, sheer incompetence and stupidity. And think well, just the recent 19k btc is a big portion of whats currently in existence.

Otherwise bitcoin is good to go.

[altcoin hitler]

no socialits and no bitcoin bull here.
 
Inflation killed it. Inflationcoins are a disgrace. Bitcoin is a disgrace.

I'm extremely bullish for low inflation coins.

Bitcoin will stay down and we'll see a frenzy craze for the good rare and scarce types. People are going to fall over each other in the hurry to get their worthless bitcoin exchanged for something that can hold value.

Still time. It hasn't really begun yet.

[Torque]

At no point in the whole history there was a system subjected to such scams, thefts, sheer incompetence and stupidity.

You really don't do any research, do you?  Pirateat40

http://spectrum.ieee.org/tech-talk/computing/networks/sec-charges-texas-man-with-running-bitcoin-ponzi-scheme

[neo9436]

You know what is killing the price? It's the 3600 new coins daily that are sold immediately to pay for hydro.

In my opinion, it's as simple as that. All 3600 coins need to be bought daily and then some for the price to go up. Supply is outpacing demand.

[spazzdla]

You know what is killing the price? It's the 3600 new coins daily that are sold immediately to pay for hydro.

In my opinion, it's as simple as that. All 3600 coins need to be bought daily and then some for the price to go up. Supply is outpacing demand.

Sooner than later all mining farms will fail due to low BTC prices.  HObby miners can mine even if the price is $10.  Once the mining farms die things will get interesting.

[superresistant]

You know what is killing the price? It's the 3600 new coins daily that are sold immediately to pay for hydro.
In my opinion, it's as simple as that. All 3600 coins need to be bought daily and then some for the price to go up. Supply is outpacing demand.

Sooner than later all mining farms will fail due to low BTC prices.  HObby miners can mine even if the price is $10.  Once the mining farms die things will get interesting.

Agree. It is better like this. Let the Bitcoin mining companies go bankrupt so we can mine again and have fun.

[cctvtech]

neo9436 is dead on, too much supply.

For the most part the miners are having to sell everything they mine to pay for expenses, hopefully this shakes out the mass of miners as the price is too low to turn a profit for most.

Personally if I was going to be a miner, I would of had the capital to mine and hlod for 5-10 years, selling some along the high points but hoarding for the long term and retiring early.

[RodeoX]

We keep forgetting that bitcoin does not need money to live, you do, but not bitcoin. This is also a difference between bitcoin and a traditional financial instrument like a stock or bond. Those things do need money or they will crash and leave the issuer insolvent. At that point a stock could be worthless. Not so with BTC. As long as two people on Earth are using it the system will work fine. I'm one... Anyone want to second that?

[neo9436]

At $200 a BTC, that's $720,000 USD of new money that needs to be injected into BTC daily to keep the price where it is at.

I'm glad this is happening and I hope the price continues to drop below $100. All these big mining farms will disappear, we can buy in cheap and mine for fun again. I don't see the price going up until the next halving at the least.

[HELP.org]

We keep forgetting that bitcoin does not need money to live, you do, but not bitcoin. This is also a difference between bitcoin and a traditional financial instrument like a stock or bond. Those things do need money or they will crash and leave the issuer insolvent. At that point a stock could be worthless. Not so with BTC. As long as two people on Earth are using it the system will work fine. I'm one... Anyone want to second that?

Bitcoin needs a constant money supply to support the operation of mining computers.

[lmmjvsd]

We keep forgetting that bitcoin does not need money to live, you do, but not bitcoin. This is also a difference between bitcoin and a traditional financial instrument like a stock or bond. Those things do need money or they will crash and leave the issuer insolvent. At that point a stock could be worthless. Not so with BTC. As long as two people on Earth are using it the system will work fine. I'm one... Anyone want to second that?

me ;-)

[GeoRW]

still waiting for single digits :-)

[BittBurger]

neo9436 is dead on, too much supply.

Which can also be phrased:   No incentive for consumers to buy and use Bitcoin.

The real problem is this.  The 'real problem' isn't the 3600 coins dumped by miners.

We are 6 years into this, and consumers still don't give a flying f** about Bitcoin, and have no incentive to buy it.

That is the real problem.  Lets focus on solutions for that instead of whining about the miners selling coins.

-B-

[neo9436]

neo9436 is dead on, too much supply.

Which can also be phrased:   No incentive for consumers to buy and use Bitcoin.

The real problem is this.  The 'real problem' isn't the 3600 coins dumped by miners.

We are 6 years into this, and consumers still don't give a flying f** about Bitcoin, and have no incentive to buy it.

That is the real problem.  Lets focus on solutions for that instead of whining about the miners selling coins.

-B-

You're absolutely right, nothing can be done about supply so demand needs to be addressed.

The price dropping will eventually lead to more demand, but then we will be right back where we are now without new solutions.

[altcoin hitler]

 nothing can be done about supply

 

*cough* ... well ...

[neo9436]

 nothing can be done about supply

 

*cough* ... well ...

Well what? Supply will halve in another year, until then....

[altcoin hitler]

 nothing can be done about supply

 

*cough* ... well ...

Well what? Supply will halve in another year, until then....

After that year it's still too high supply to sustain a high marketcap.
Give it 5 years. You socialists are going to stagnate with this coin for years because you all love your inflation so much.
Bitcoin isn't a commodity at all. Hoarders go broke. Shortsellers will have the upper hand for years.

It was only able to briefly run up to that bubble-price because of its novelty. That's over now. Not going to happen again. Now you have to deal with your inflation.

A whole year of bearmarket topped off by an epic crash should start make you think about the fundamentals.

[altcoin hitler]

Compare Litecoin charts. They are even worse.

All you see there is the impact of the inflation. Why else would it have been unable to preserve value?

If bubbles based on novelty are the only thing that gives the token value it will be looking grim for the future. The high inflation delivered a major blow to this new technology.

[Melbustus]

...
A whole year of bearmarket topped off by an epic crash should start make you think about the fundamentals.

Many of us thought about the fundamentals pretty deeply 3 or 4 years ago. Nothing's changed, except massive development and expansion of the ecosystem.