What would make you really worry?

[okthen]

I'm pretty confident that this dump won't be long, and I didn't put money I can't lose in bitcoin, so it's not like I'm dead worried right now.
But what would make you doubt the future of bitcoin? I mean a market indicator, news piece, anything.

Looking at the charts, I'd be worried if this week's MACD closes smaller than the last one!

[SnokkomBTC]

I'm pretty confident that this dump won't be long, and I didn't put money I can't lose in bitcoin, so it's not like I'm dead worried right now.
But what would make you doubt the future of bitcoin? I mean a market indicator, news piece, anything.

Looking at the charts, I'd be worried if this week's MACD closes smaller than the last one!

100% sure it would be smaller than the last one.

Anyway, I'm still pretty bullish

[zoinky]

A more sound form of money.

[Melbustus]

If you asked me that in early 2012, I would've said something along the lines of: Getting over the hurdle of getting enough people to understand bitcoin that it develops a self-sustaining community.

That seems to have happened. We have hundreds of bitcoin-focused companies building tools and services; even if 90% fail (which is typical of startups), we still have a solid core. There's been over $600M in VC poured into Bitcoin, the fruits of which we're only beginning to see (this trails 1-3yrs, at least), bitcoin is accepted by some of the biggest companies in the world, and bitcoin is being seriously discussed at high levels of government, the corporate/finance world, and academia.

If in 2012 you told me that it would only take 3 years to get to where we are today, I would've written it off as very unlikely. The magic part has probably already happened... As Wences Casares of Xapo likes to say, it's probably far more unlikely to have gone from 0 to where we are today, than to go from where we are today to 1 billion users eventually.

So what worries me? With the perspective of having seen this ecosystem develop over the past 4 years, not that much. While it's still a coin-toss what bitcoin's ultimate fate is, there's far less to worry about than just a few years ago. If I had to give a concrete answer, perhaps some worldwide coordinated government crackdown on Bitcoin's legality....which seems highly unlikely.


And if you're looking at charts day-to-day as a potential source of things to worry about, then you're doing this Bitcoin thing all wrong. Think long term.

[Snipe85]

Only a major ban by the USA or China, a series of exchange bankruptcies or hacks.
If you're worried about the price, my question is: did you sell when it was below $200? If not why are you worried now? Bitcoin is actually recovering after hitting the bottom in January.

[Amph]

if another currency replace bitcoin, after its adoption is complete or in a very good position, many would lose a tons of money, although the transition happen gradually

[networthsigns]

Only a major ban by the USA or China, a series of exchange bankruptcies or hacks.
If you're worried about the price, my question is: did you sell when it was below $200? If not why are you worried now? Bitcoin is actually recovering after hitting the bottom in January.

A ban in the USA would be bad for business but would not worry me because as we know there is already a ban in china but they are basically the biggest player in the game so bans are really not a problem and i doubt never will be because you can't ban decentralized you can only pretend or try to. If the biggest exchanges starting getting taken out then that could be very very bad for bitcoin and that is one that would worry me a fair bit. My biggest worry would be the regulation that is coming but then it gets carried away and we start getting taxed a fortune and backdated We are on the rise though and even if we was not price would not get me fussed like you i only have what i am willing to lose..  

[abyrnes81]

if another currency replace bitcoin, after its adoption is complete or in a very good position, many would lose a tons of money, although the transition happen gradually

If someone can create a 'thing' better then bitcoin then I think almost all the bitcoiners will abandon bitcoin and follow the other coin, like ethereum (oh wait it doesn't exist  ). The better thing for the future will be a currency not inflationary or deflationary (a sort of equality and auto-regulatory).

[ThatDGuy]

If you asked me that in early 2012, I would've said something along the lines of: Getting over the hurdle of getting enough people to understand bitcoin that it develops a self-sustaining community.

That seems to have happened. We have hundreds of bitcoin-focused companies building tools and services; even if 90% fail (which is typical of startups), we still have a solid core. There's been over $600M in VC poured into Bitcoin, the fruits of which we're only beginning to see (this trails 1-3yrs, at least), bitcoin is accepted by some of the biggest companies in the world, and bitcoin is being seriously discussed at high levels of government, the corporate/finance world, and academia.

If in 2012 you told me that it would only take 3 years to get to where we are today, I would've written it off as very unlikely. The magic part has probably already happened... As Wences Casares of Xapo likes to say, it's probably far more unlikely to have gone from 0 to where we are today, than to go from where we are today to 1 billion users eventually.

So what worries me? With the perspective of having seen this ecosystem develop over the past 4 years, not that much. While it's still a coin-toss what bitcoin's ultimate fate is, there's far less to worry about than just a few years ago. If I had to give a concrete answer, perhaps some worldwide coordinated government crackdown on Bitcoin's legality....which seems highly unlikely.


And if you're looking at charts day-to-day as a potential source of things to worry about, then you're doing this Bitcoin thing all wrong. Think long term.

This is where I'm at right now too, very well summarized.

Having been around to see and feel actual fear that it could go away, none of this price movement over the last few days has affected me, nor the 15 months on the way back down from 11/13.

All that said, do not put any money into BTC that you're emotionally attached to - because even knowing all of that, the violent price movements will beg emotion from you, and probably get it.  Especially the first few major movements.

[Melbustus]

If you asked me that in early 2012, I would've said something along the lines of: Getting over the hurdle of getting enough people to understand bitcoin that it develops a self-sustaining community.

That seems to have happened. We have hundreds of bitcoin-focused companies building tools and services; even if 90% fail (which is typical of startups), we still have a solid core. There's been over $600M in VC poured into Bitcoin, the fruits of which we're only beginning to see (this trails 1-3yrs, at least), bitcoin is accepted by some of the biggest companies in the world, and bitcoin is being seriously discussed at high levels of government, the corporate/finance world, and academia.

If in 2012 you told me that it would only take 3 years to get to where we are today, I would've written it off as very unlikely. The magic part has probably already happened... As Wences Casares of Xapo likes to say, it's probably far more unlikely to have gone from 0 to where we are today, than to go from where we are today to 1 billion users eventually.

So what worries me? With the perspective of having seen this ecosystem develop over the past 4 years, not that much. While it's still a coin-toss what bitcoin's ultimate fate is, there's far less to worry about than just a few years ago. If I had to give a concrete answer, perhaps some worldwide coordinated government crackdown on Bitcoin's legality....which seems highly unlikely.


And if you're looking at charts day-to-day as a potential source of things to worry about, then you're doing this Bitcoin thing all wrong. Think long term.

This is where I'm at right now too, very well summarized.

Having been around to see and feel actual fear that it could go away, none of this price movement over the last few days has affected me, nor the 15 months on the way back down from 11/13.

All that said, do not put any money into BTC that you're emotionally attached to - because even knowing all of that, the violent price movements will beg emotion from you, and probably get it.  Especially the first few major movements.

Yes, from an investment perspective, bitcoin is trial-by-fire for:
1) Truly understanding your own risk profile
2) Emotional fortitude
3) Conviction in your own analysis

[Amph]

if another currency replace bitcoin, after its adoption is complete or in a very good position, many would lose a tons of money, although the transition happen gradually

If someone can create a 'thing' better then bitcoin then I think almost all the bitcoiners will abandon bitcoin and follow the other coin, like ethereum (oh wait it doesn't exist  ). The better thing for the future will be a currency not inflationary or deflationary (a sort of equality and auto-regulatory).

i agree, but many will lose money because of this, that's my concern, the passage will not be in painless

[Dilla]

Since I haven't invested more than I care to lose, I would regret not investing more if it shoots up from here to 4 or more digits. If it tanks, oh well, I still have my normal life.

[Q7]

My only worry is that the pump and dump trend actually makes people lose confidence. Just like yourself, I'm not putting money which I can't afford to lose. My hope is to see bitcoin become widely adopted in the near future. But looking at the trend where and how the price is moving, this will turn off mass adoption by the retailers and such. People need to have confidence in bitcoin.

[calme]

If I had to give a concrete answer, perhaps some worldwide coordinated government crackdown on Bitcoin's legality....which seems highly unlikely.

Those people could never stop us. We've been doing whatever we wanted since childhood. Fuck doing dishes, we played video games. If they make bad laws, we'll create new ones.

[BTC-Bank]

Something it really make me worry for the future of Bitcoins is the attempts of regulations wich not really means an end but is a serious hit also a bigger thought in my personal opinion is mostly us, people who love Bitcoin and are involved with Bitcoin many of us see it from the other side as only an investment opportunity in many markets and investing ways short or long but i will be more happy when Bitcoin reach the level of use the level who we wont think it as an investment as i am not seeing my euro trade coin everyday as an investment so for me the mainly worry is this and this is the only thing will prove that Bitcoin is not a ''bubble'' as they like to say and is a form of money who came to change the whole idea in our lives.So i worry most for us and the way the most people see it.These are my thoughts and my personal opinion of course. 

Kind Regards,
BTC-Bank.

[isasim]

what demands prompt and support the rise of the cryptcoin(bitcoin,altcoin) industry.

[randy8777]

currently nothing can replace bitcoin as many many bitcoiners have faith and believe in bitcoin.
that being said, that doesn't mean it can't get replaced in the future by something better.

[minerbit hill]

if you are desperate and impulsive. bitcoin is not for you

[Wary]

Only a major ban by the USA or China, a series of exchange bankruptcies or hacks.

In fact, all of the above have already happened:

exchange hack          - tick (Gox & Stamp).
exchange bankrupcy  - tick  (Gox).
Ban by USA              - tick (the "cease and desist" order send to the Bitcoin Foundation in 2013  ).
Ban by China            - tick (more than once  )

And despite of all of it, bitcoin is still alive and kicking. The Honey Badger of Money it is

[Ibian]

I'm jumping for joy over the low price. Good for certain other investments.