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Author Topic: Is bitcoin dead?  (Read 110020 times)
Bonam
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March 05, 2015, 07:44:40 AM
Last edit: March 05, 2015, 08:00:58 AM by Bonam
 #1

I think it is.

Bitcoin use adoption has stalled. Media interest has dissipated. Prices have only slowly continued to decline for a long time now. Bitcoin securities have always been and still are a complete mess, with a near 100% failure (scam/fraud/incompetence/etc) rate. Mining has been concentrated in the hands of a few giant players, eliminating much of the advantage/security/democracy of thousands of individuals being the money processors. Alternative forms of online payment with US dollars (and other fiat currencies) are now cheaper, faster, and more secure than bitcoin (and of course far more usable to buy/sell real goods/services), eliminating any of its advantages as a payment system. Continued decline of bitcoin and strength in fiat currencies has put the lie to the idea of bitcoin as a store of value; there are far better more reliable hedges against inflation. Meanwhile the real economy is firing on all cylinders, stock markets are at all time highs, corporate earnings are higher than ever, unemployment is low, etc. Even amid the boom, no one cares about bitcoin any more. Bitcoin was a fad that lasted a few years, and is now on its way to being forgotten.

Thoughts? Anyone seriously disagree with this conclusion?
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Amph
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March 05, 2015, 07:59:08 AM
 #2

short answer no, just a little crisis due to the price being low/many lost huge amount of money because they bought at the peak, taxes being a problem, and other small stuff

just a despair phase that is very long apparently
yui
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March 05, 2015, 08:36:09 AM
 #3

Don't be too greedy and trying to manipulate the price OP
Bonam
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March 05, 2015, 08:49:09 AM
 #4

Don't be too greedy and trying to manipulate the price OP

Meh, no interest in crap like that. The only bitcoins I ever got were a few back when you could mine profitably with GPUs, and a few more in exchange for services. Never bought any with real money and don't plan to. What I am interested in is if anyone serious still sees a future in bitcoin, and if so, what they're reasons might be. That's why I started this thread.
tyrexs
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March 05, 2015, 08:59:01 AM
 #5

maybe end of 2015 bitcoin dead Sad

kitarohotono
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March 05, 2015, 09:17:17 AM
 #6

Bitcoin might be dying but blockchain tech lives on.
resya
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March 05, 2015, 09:31:44 AM
 #7

Bitcoin won't be dead... not in near future. People who says bitcoin is dead don't see the fact if bitcoin is dead, the other altcoin he trust will be dead too if it is not already!

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March 05, 2015, 09:33:55 AM
 #8



Nah its not and probably will not for decades

V for Varoufakis
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March 05, 2015, 09:50:41 AM
 #9

Gold standard is dead. A crypto-fiat, independent from banks, is the future.
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March 05, 2015, 09:59:25 AM
 #10

I am just surprised at the fact how come a senior member becomes a doomster of Bitcoin! After viewing you post history, I found you have involved a lot in the bitcoin stock investing. Probably you made some loss so you are despaired of it. In crypto world there are a lot of scams, fraudulence etc. It is fully understood that some ppl encounter it and leave. 

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March 05, 2015, 10:06:19 AM
 #11



Meanwhile the real economy is firing on all cylinders, stock markets are at all time highs, corporate earnings are higher than ever, unemployment is low, etc. Even amid the boom, no one cares about bitcoin any more.


I disagree massively with this part.  Stock markets are high, agreed.  This is due to stock buybacks and huge bubble P/E ratios, not fundamentals though.  Unemployment as paid by the state is low, I agree.  But the participation level is very very low, almost the same as in the trough of the recession in 2008.  People may not care about Bitcoin, but do you seriously not think that there will be an "internet money" in the future, so that you can pay for anything, anywhere without having to convert?  I think there will be, and I am essentiall betting that it will be Bitcoin.
okthen
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March 05, 2015, 10:32:13 AM
 #12

Another bitcoin is dead thread?
This is so bullish.
We're going to the moon soon Grin

But seriously, just look at past graphs and recent news. It has been a long but not unseen bear market, and everyday there are new and very positive news! It's just a matter of time till the next phase of adoption starts Smiley
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March 05, 2015, 12:19:11 PM
 #13

I don't know how you come to that conclusion but It's far from being dead if you were to ask me. And talk about media interest, there has been an active discussion going on news site not specifically onto btc alone. And the news site won't certainly write about the topic if there's no interest whatsoever in it.

http://blogs.wsj.com/briefly/2015/03/04/the-future-of-bitcoin-the-readers-weigh-in-at-a-glance/
http://www.cnbc.com/id/102476273

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March 05, 2015, 01:18:42 PM
 #14

I think it is.

Bitcoin use adoption has stalled. Media interest has dissipated. Prices have only slowly continued to decline for a long time now. Bitcoin securities have always been and still are a complete mess, with a near 100% failure (scam/fraud/incompetence/etc) rate. Mining has been concentrated in the hands of a few giant players, eliminating much of the advantage/security/democracy of thousands of individuals being the money processors. Alternative forms of online payment with US dollars (and other fiat currencies) are now cheaper, faster, and more secure than bitcoin (and of course far more usable to buy/sell real goods/services), eliminating any of its advantages as a payment system. Continued decline of bitcoin and strength in fiat currencies has put the lie to the idea of bitcoin as a store of value; there are far better more reliable hedges against inflation. Meanwhile the real economy is firing on all cylinders, stock markets are at all time highs, corporate earnings are higher than ever, unemployment is low, etc. Even amid the boom, no one cares about bitcoin any more. Bitcoin was a fad that lasted a few years, and is now on its way to being forgotten.

Thoughts? Anyone seriously disagree with this conclusion?

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March 05, 2015, 02:19:07 PM
 #15

Don't be too greedy and trying to manipulate the price OP

Meh, no interest in crap like that. The only bitcoins I ever got were a few back when you could mine profitably with GPUs, and a few more in exchange for services. Never bought any with real money and don't plan to. What I am interested in is if anyone serious still sees a future in bitcoin, and if so, what they're reasons might be. That's why I started this thread.

I believe in Bitcoin because it makes me the owner, and I mean the only owner of my money.

No one can tell me what to do with it, how to spend it, and how much I can spend.

Where can you send $100,000,000 for just $0.04 in fees? Can you tell me?  Wink

And don't forget the endless possibilities of the blockchain and the network power behind it.

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March 05, 2015, 03:10:13 PM
 #16

Bitcoin securities have always been and still are a complete mess, with a near 100% failure (scam/fraud/incompetence/etc) rate.

All the above securities failure are not related to bitcoin network itself, right?

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March 05, 2015, 03:13:13 PM
 #17

I've been following bitcoin deaths at http://bitcoinobituaries.com/ Smiley

It dies a lot...

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March 05, 2015, 03:17:51 PM
 #18

I think it is.

Bitcoin use adoption has stalled. Media interest has dissipated. Prices have only slowly continued to decline for a long time now. Bitcoin securities have always been and still are a complete mess, with a near 100% failure (scam/fraud/incompetence/etc) rate. Mining has been concentrated in the hands of a few giant players, eliminating much of the advantage/security/democracy of thousands of individuals being the money processors. Alternative forms of online payment with US dollars (and other fiat currencies) are now cheaper, faster, and more secure than bitcoin (and of course far more usable to buy/sell real goods/services), eliminating any of its advantages as a payment system. Continued decline of bitcoin and strength in fiat currencies has put the lie to the idea of bitcoin as a store of value; there are far better more reliable hedges against inflation. Meanwhile the real economy is firing on all cylinders, stock markets are at all time highs, corporate earnings are higher than ever, unemployment is low, etc. Even amid the boom, no one cares about bitcoin any more. Bitcoin was a fad that lasted a few years, and is now on its way to being forgotten.

Thoughts? Anyone seriously disagree with this conclusion?

FTFY
I seriously disagree with most of what you wrote. Just because bitcoin bullrun didnt go everlasting doesnt mean the progress isnt being made, and that the technology will be abandoned.
It takes time for things to change, and it takes even more time to get worldwide acceptance.
It is a total miracle the price stopped declining where it did, considering mass cashouts people made due to insane amount of bitcoin horror stories and the fact the bullrun finished for now, i thought at first it will stop
at about 100$ or even lower.
Bitcoin is increasing its infuence week by week, and when true regulation takes place, that is when the corporate money will be dragged into it, and then, there is no stopping, but in the end, this is how i see things,
and how i feel about it, so results may vary.

cheers
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March 05, 2015, 03:26:22 PM
 #19

No. Bitcoin price is taking a brake. The potential is still enormous, so I would stack up.  Cool
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March 05, 2015, 04:14:05 PM
 #20

I think it is.

Welcome on my never ending ignore list.

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