Delusional bulls be Like...

[NotLambchop]

and I don't know where your suspicion comes from, but hey do what ever makes you happy.

It's probably based on the belief most old-members are ...

No, it's based on paranoid delusions.  Not being bulltarded gets one labeled a troll, a sock, a gubermint infiltrator, or worse...

None of this, of course, is ever true.   Earthling.



  ~Your Beneficent Reptilian Overlords

[HarmonLi]

It can't go on forever, can it? At some point there will be a true trend-reversal, and it's merely a question of recognizing that reversal. I admit it's a very difficult thing, but one of those times you're wrong by calling it a mere bull-trap!

[neurotypical]

It can't go on forever, can it? At some point there will be a true trend-reversal, and it's merely a question of recognizing that reversal. I admit it's a very difficult thing, but one of those times you're wrong by calling it a mere bull-trap!

Bitcoin is objectively going to survive, the blockchain has 100% chances os being here in 10 years, now Bitcoin, I (and Andreas agrees) has 90% to be the currency that survives, with a 10% of another currency taking over.

So it's all a game of guessing when the uptrend happens. Of course there are morons that say "its crashing its crashing" and eventually are right, same for the opposite. All these "its crashing" guys will be gone once the uptrend sets. When another crash happens, they will come back as the wizards of the market that predicted it.

[Mellnik]

Cool story mimimimitech.

[Kipsy89]

Nahh, this time it really is different. I mean, how much lower is the price supposed to go in your opinion? It's almost impossible to go much lower from here. People will always be ready to pay $100 for a single coin, man.

[sgbett]

BTW, do you see this ? this means no sane person would leave his Bitcoin on exchanges anymore, even if it is for the sake of open limited orders.... I am sure that once the price goes a bit up people will start sending coins to exchanges and executing market sell orders.

funniest post ever.

[xDan]

Delusional bulls be like "fully regulated US exchange wooo!"

[mmitech]

Delusional bulls be like "fully regulated US exchange wooo!"

yet another exchange, bullish...let me buy more bitcoins.

[picolo]

Delusional bulls be like "fully regulated US exchange wooo!"

yet another exchange, bullish...let me buy more bitcoins.

A fully regulated US exchange is positive.

[ErisDiscordia]

Bitcoin it self is not fucked, at least not yet, but the price is going to be fucked.... I was bullish and turned bearish, I don't see what is wrong about it!!!!  and yes I cashed out in August and I still have no regrets

What makes you sure that Bitcoin's price is going to be even more fucked in the coming months?

I myself, am actually 50/50 on whether $150 was the 'bottom' and that Bitcoin might experience a trend bucking rise from here, or whether there is yet more shit storms to come.

50/50 is about as bullish as I have been on Bitcoin for a very long time.

Many people here shout that this time there is bigger support than we had in the past, and yes there is diffidently bigger support BTC wise but the dollar wise is differently the same if not lower, others said that previous bottoms didn't have such volume and this was the strongest one in months, and I agree on that one, but I think that it was mostly caused by the Bitstamp....People here are convinced that this is the bottom not because of TA, because according to all major support lines that were broken we are heading to double digits, but they are convinced because they think Wall street came to save them.

This is an opinion, but I sure am not buying a single Bitcoin at these prices, I still think that Bitcoin is waaaaaaaaay overpriced for its utility, people talk about its value, and I am sure the price don't reflect the real value of Bitcoin, it is still over priced IMHO, and if I am wrong about the price then I really don't care even if I miss the "train", because everything else still hold, there are so many things wrong that need to be fixed and pumping the price is not going to fix them.

I think this analysis would hold only if Bitcoin were to be utilized for its transactional properties exclusively. Yet there is undeniable demand for just holding coins, instead of just spending them, Bitcoin being free of middlemen and all that.

[Wandererfromthenorth]

These charts are self explanatory


*Pics*

Don't bother man, people here won't listen to anything that goes against their "to the moon" delusions when prices are going up short term.


They will just shut down their brain and the only things they see is dollar signs (pay attention, dollar signs, not the BTC symbol  ) rolling in.

They would have ignored any long term bearish argument (and some of them probably did) during the bulltraps you posted too.



My take on BTC is that for over a year it has stopped being "investment material" and has simply become "(margin) trading material".
The volatility is pretty big and the liquidity is good enough (you can still move millions around, to anyone saying that it's "thin"... "thin" compared to what?). Sure penny stocks are volatile too but there is no such liquidity that makes it worth it.

Traders can make very nice trades with bitcoin. That being said, it't not "investment material" anymore. The times of 10X-50X-100X or more ROI on your whole investment are long gone, there simply doesn't seem to be the demand required for the moon scenario the permabulls still dream about while remembering the good ol' days when bitcoin "had potential" and was in its novelty-early phase when such returns were a possibility (and that's one of the reasons I bought it at the time)

Considering current fundamentals, anything more than $10 billion marketcap (BTC around $1000) is probably an unsustainable ceiling and for all we know, if it wasn't for willy and markus mtgox bots and china we wouldn't even have reached those levels in the first place.

People pointing out that the 2011 mtgox chart looks just like a bubble bursting but the price went into bubbles after that as a reason to say "you see? we have already been there, history will just repeat itself!" are just failed attempts at being clever.

I mean I posted the 2011-2014 chart comparison few months back too ( https://bitcointalk.org/index.php?topic=866686.0), but just for the sake of TA and to look out for similar or different turn of events, never used it as an argument that BTC is bound to go in bear market-bubble cycles until it reaches 1 quadrillion...
That is just silly.

Prices in 2011 were more than 100 times less what they are now, liquidity was ridiculously lower and the whole landscape was completely different.

I'm not sure the world needs a bitcoin or a cryptocurrency, and if it does, it doesn't need an overpriced and overhyped one.
Sure with the blockchain or similar tech you can do plenty of fancy stuff, but such an outdated (at least today) and limited technology will certainly be replaced by something a lot better (that either exists today or will exist eventually).


Take bitcoin for what it is, "trading material" and not "investment material" anymore.

Personally I'm kinda getting tired of all the cultists around, and aside from some pure traders or posters here like Stolfi who are actually trying to be objective of what they have in front of their eyes and post actual insightful stuff, a lot of the rest is just "to the moon" delusional blind greedy kids I just can't read anymore...

[gustav]

[Torque]

I'm not sure the world needs a bitcoin or a cryptocurrency, and if it does, it doesn't need an overpriced and overhyped one.

Some of you points are valid, but this statement is where you completely went off the reservation.

If you can't see that a cryptocurrency NEEDS to become more valuable and more popular over time against fiat currency to be useful and a better form of money, then you missed the entire point of its existence.  And price does not matter when it is divisible to 8 decimal places, so it can never be "overpriced".

Gold would be absolutely worthless to the general world populous at $0.0001/ounce.  Get it?

[Wandererfromthenorth]

I'm not sure the world needs a bitcoin or a cryptocurrency, and if it does, it doesn't need an overpriced and overhyped one.

Some of you points are valid, but this statement is where you completely went off the reservation.

If you can't see that a cryptocurrency NEEDS to become more valuable and more popular over time against fiat currency to be useful and a better form of money, then you missed the entire point of its existence.  And price does not matter when it is divisible to 8 decimal places, so it can never be "overpriced".

Gold would be absolutely worthless to the general world populous at $0.0001/ounce.  Get it?

This is if you take the "cryptocurrencies become mainstream CURRENCIES (and not instruments of mere speculation or gold 2.0 wannabe stores of value)" as likely.

I was more referring to the use cases when it actually makes sense to use bitcoin as opposed to regular fiat money and credit cards. AKA: drugs and illegal goods in general, donations to wikileaks and alike, funding where it would not be possible etc.

Because whether you like it or not, the Silk Road and the other black market were the only real use case that bitcoin ever had AS A CURRENCY.

The other proposed use cases are just excuses to pump and smokescreen because bitcoin doesn't really offer real advantages as a payment system over fiat money in any other domains.

You wait for DarkWallet final release and voilà: you got the only real use as a currency for bitcoin.
You might not like or agree with these use cases (I don't agree with all that either, but can't do much about it), but that's what it is.
And bitcoin doesn't need a high marketcap to fulfill these purposes.

[Torque]

Because whether you like it or not, the Silk Road and the other black market were the only real use case that bitcoin ever had AS A CURRENCY.

The other proposed use cases are just excuses to pump and smokescreen because bitcoin doesn't really offer real advantages over fiat money.

I don't agree.  In the near future:

1. Consumers will be offered more merchant incentives (e.g., product discounts, bulk rates, etc.) to use bitcoin over fiat/credit cards
2. Daily transactions will be easier and faster with bitcoin on mobile devices (through services like CB/BitPay that will offer near zero latency)
3. Merchants will benefit more as services like Coinbase/BitPay shield them from volatility, chargebacks, and fees.
4. Transaction fees will eventually fall to near zero over time.

And all this will get better and better with time.  In ten years, it will be working at a fairly decent level.  In 20+, near optimum.  In 30, no one will even remember the early days.... at all.

[Wandererfromthenorth]

Because whether you like it or not, the Silk Road and the other black market were the only real use case that bitcoin ever had AS A CURRENCY.

The other proposed use cases are just excuses to pump and smokescreen because bitcoin doesn't really offer real advantages over fiat money.

I don't agree.  In the near future, consumers will be offered more merchant incentives (e.g., product discounts, bulk rates, etc.) to use bitcoin over fiat/credit cards, daily transactions will be easier and faster with bitcoin on mobile devices, and merchants will benefit more as services like Coinbase/BitPay shield them from volatility, chargebacks, and fees. Transaction fees will eventually fall to near zero over time.

And all this will get better and better over time.  In ten years, it will be working at a fairly decent level.  In 20+, near optimum.  In 30, no one will even remember the early days.... at all.

I doubt the masses are interested in dealing with bitcoin when there are other alternatives like Applepay  or ripple and others which are actually faster than bitcoin since it can take up to half an hour or more for the confirmations to go through. Sure some merchants accept 0 confirmation transactions but that's not secure, you don't need the blockchain if you have to trust strangers...
I don't see it replacing credit cards when you have to buy groceries or whatever. Especially in the eyes of the masses who don't put decentralisation above how fast/easy it is to use it...
Also bitcoin transaction fees will be eventually higher as block reward is reduced (long term as you say), that is one of the limitations of the bitcoin blockchain and his proof-of-work...

Maybe other cryptos like nubits or ripple or others will make it regarding fees, not sure about bitcoin.

[xDan]

Because whether you like it or not, the Silk Road and the other black market were the only real use case that bitcoin ever had AS A CURRENCY.

The other proposed use cases are just excuses to pump and smokescreen because bitcoin doesn't really offer real advantages as a payment system over fiat money in any other domains.

Your other post above was pretty reasonable, but then you had to ruin it!

[NotLambchop]

Because whether you like it or not, the Silk Road and the other black market were the only real use case that bitcoin ever had AS A CURRENCY.

The other proposed use cases are just excuses to pump and smokescreen because bitcoin doesn't really offer real advantages over fiat money.

I don't agree.  In the near future:

1. Consumers will be offered more merchant incentives (e.g., product discounts, bulk rates, etc.) to use bitcoin over fiat/credit cards

Unless you think that Bitcoin payment processors can work for free, there will be no discount [long term].

2. Daily transactions will be easier and faster with bitcoin on mobile devices (through services like CB/BitPay that will offer near zero latency)

I never experience latency using CC, do you?

3. Merchants will benefit more as services like Coinbase/BitPay shield them from volatility, chargebacks, and fees.

By staying away from Bitcoin, merchants don't even think about Bitcoin volatility.  No need to solve problems Bitcoin itself creates.

4. Transaction fees will eventually fall to near zero over time.

Transaction fees could only grow over time.  At this point, miners don't rely on tx fees because they're allowed to "print money" [bitcoin block reward], at a rate of ~12% a year.  Fees will need to compensate for decreasing block rewards.

[knight22]

Because whether you like it or not, the Silk Road and the other black market were the only real use case that bitcoin ever had AS A CURRENCY.

The other proposed use cases are just excuses to pump and smokescreen because bitcoin doesn't really offer real advantages over fiat money.

I don't agree.  In the near future:

1. Consumers will be offered more merchant incentives (e.g., product discounts, bulk rates, etc.) to use bitcoin over fiat/credit cards

Unless you think that Bitcoin payment processors can work for free, there will be no discount [long term].

2. Daily transactions will be easier and faster with bitcoin on mobile devices (through services like CB/BitPay that will offer near zero latency)

I never experience latency using CC, do you?

3. Merchants will benefit more as services like Coinbase/BitPay shield them from volatility, chargebacks, and fees.

Not if transaction volumes increase significantly.
By staying away from Bitcoin, merchants don't even think about Bitcoin volatility.  No need to solve problems Bitcoin itself creates.

4. Transaction fees will eventually fall to near zero over time.

Transaction fees could only grow over time.  At this point, miners don't rely on tx fees because they're allowed to "print money" [bitcoin block reward], at a rate of ~12% a year.  Fees will need to compensate for decreasing block rewards.

[mmitech]

I will just leave this here too

I got an E-mail update from Linkedin, I checked out and it seems like some of Bitstamp employees were changing their work to a new company called GateHub Limited., So I Googled it to try to understand the reasons behind it and came to find this

This is what was interesting to me:

For me it all started with Bitcoin. While studying architecture and working as a freelance web designer and developer, Nejc Kodrič contacted me one day and asked me to design him a website. He explained what Bitcoin is and how he believes it will change the world. I thought he was nuts. But after a while it became clear that we could make the world a better place. Bitcoin is amazing but it has limitations when it comes to everyday use. That’s where Ripple steps in.

Working for Bitstamp from the very beginning made me very fortunate to be one of the first people to get to know Ripple.

It was hard to grasp on everything it can do. But after using it for a while I realized that the founders of this protocol are up to something. Money right now is boring. There is no Twitter, Instagram or Facebook for money. You can’t have cool apps to visualize your income or spending. The reason for that is simply because we don’t have a protocol through which these apps could communicate with each other. We don’t have an API for money.

Ripple is that protocol, it is that API which we can use right now.

Knowing all that I decided that the only way to make everybody see the future is to bring the future to them. That’s how the idea of a new gateway was born. Me and my colleagues worked very hard for the last year to create something truly useful.

We hope you’ll love it as much as we do!



Enej Pungerčar, CEO and founder of GateHub Ltd.

Investors:

Investors & Advisors

Greg Kidd, CRO Ripple Labs
Chris Larsen, CEO Ripple Labs
Nejc Kodrič, CEO Bitstamp
George Frost, Lawyer

They just shitted all over Bitcoin.