Even at the peak of the last "bubble", I didn't think above $10,000/BTC was possible in the next few years, but now I do.
Topic: [2014-06-10] One secret of bitcoin bulls (Read 1116 times)
It is stunning how fast BTC is catching on in many countries. Bitcoin Bears will be completely crushed the next couple of years.
Even at the peak of the last "bubble", I didn't think above $10,000/BTC was possible in the next few years, but now I do.
Even at the peak of the last "bubble", I didn't think above $10,000/BTC was possible in the next few years, but now I do.
I think there is a space in the market for that kind of service. Once people are in bit coin for a while they learn about security. The scammers are a more difficult problem.
Considering that the amount of hacks / thefts is significantly higher than the number of scammers, I can't say that I agree with you there.
I think there is a space in the market for that kind of service. Once people are in bit coin for a while they learn about security. The scammers are a more difficult problem.
Considering that the amount of hacks / thefts is significantly higher than the number of scammers, I can't say that I agree with you there.
Awesome article... inspired me to tweet about it!
https://twitter.com/MontyBitcoin/status/476978185733935104
https://twitter.com/MontyBitcoin/status/476978185733935104
Thanks for sharing the full article I liked his opinion it does take time to develop an understanding of Bitcoin but once you do there is no reason not to believe in its potential.
It was the best performing asset of 2014 has a market potential far larger than Tesla and is in itself an innovating development let alone all the utility it can provide.
Simple but forward it is making money better by improving it let the bears join the bulls.
It was the best performing asset of 2014 has a market potential far larger than Tesla and is in itself an innovating development let alone all the utility it can provide.
Simple but forward it is making money better by improving it let the bears join the bulls.
Indeed, I agree. I think Bitcoin's biggest Achilles's heal isn't the government, or the possibility of a 51% attack, but rather the ever-present issue of hackers and theft of bitcoins. I get the impression that the majority of the people on this forum are tech savvy enough to protect their bitcoins from theft / hackers if they put in the effort. But that's not the case for the general public. The great irony of all this is that a bitcoin bank, with an equivalent to FDIC insurance that the fiat world has, would really be the best defense against this. Ironic because it seems the majority of the bitcoin community are against the mainstream financial firms.
It's not an unsolvable problem, but judging by the quantity of thefts and such I see reported on the forums here, we're far from having it solved still.
I think there is a space in the market for that kind of service. Once people are in bit coin for a while they learn about security. The scammers are a more difficult problem.
Where does the bear/bull-analogy come from?
They're stock market terms. The Wall Street types use the term bull to describe people who think the market is going to go up, and also a "bull market" being one that's going up. Bears, in contrast, think the market will go down. The same terms have been used on the Speculation forum to describe Bitcoin, although most of the people on that forum are bullish.
Where does the bear/bull-analogy come from?
Thanks for sharing the full article I liked his opinion it does take time to develop an understanding of Bitcoin but once you do there is no reason not to believe in its potential.
It was the best performing asset of 2014 has a market potential far larger than Tesla and is in itself an innovating development let alone all the utility it can provide.
Simple but forward it is making money better by improving it let the bears join the bulls.
It was the best performing asset of 2014 has a market potential far larger than Tesla and is in itself an innovating development let alone all the utility it can provide.
Simple but forward it is making money better by improving it let the bears join the bulls.
Indeed, I agree. I think Bitcoin's biggest Achilles's heal isn't the government, or the possibility of a 51% attack, but rather the ever-present issue of hackers and theft of bitcoins. I get the impression that the majority of the people on this forum are tech savvy enough to protect their bitcoins from theft / hackers if they put in the effort. But that's not the case for the general public. The great irony of all this is that a bitcoin bank, with an equivalent to FDIC insurance that the fiat world has, would really be the best defense against this. Ironic because it seems the majority of the bitcoin community are against the mainstream financial firms.
It's not an unsolvable problem, but judging by the quantity of thefts and such I see reported on the forums here, we're far from having it solved still.
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Thanks for sharing the full article I liked his opinion it does take time to develop an understanding of Bitcoin but once you do there is no reason not to believe in its potential.
It was the best performing asset of 2014 has a market potential far larger than Tesla and is in itself an innovating development let alone all the utility it can provide.
Simple but forward it is making money better by improving it let the bears join the bulls.
It was the best performing asset of 2014 has a market potential far larger than Tesla and is in itself an innovating development let alone all the utility it can provide.
Simple but forward it is making money better by improving it let the bears join the bulls.
That was a good read and an unusually fair article. There is definitely a wave coming and it is great to be part of the wave instead on the beach not knowing it is coming.
Love your description. Never been part of an active tsunami before 
*tidal wave incoming!
Yep! But this one will be constructive instead of destructive unless you are a banker or politician.
That was a good read and an unusually fair article. There is definitely a wave coming and it is great to be part of the wave instead on the beach not knowing it is coming.
Love your description. Never been part of an active tsunami before *tidal wave incoming!
That was a good read and an unusually fair article. There is definitely a wave coming and it is great to be part of the wave instead on the beach not knowing it is coming.
An article on NASDAQ.com:
Quote
By David Smith
Many people think bitcoin enthusiasts are unjustifiably excited about bitcoin’s potential.
There are many reasons for this excitement; the most obvious being that bitcoin-like technologies have the potential to change every financial transaction on the planet and enable never before seen types of financial transactions. But bitcoin bulls have a secret.
The Secret: Bears Become Bulls
Bitcoin bulls are excited about bitcoin because nearly all were non-believers upon initially hearing about bitcoin. And many bulls believe any open-minded person who spends time learning about bitcoin will agree it has massive potential, even if they disagree on the likelihood of that occurring.
Why People Convert
The early bitcoin adopters were typically people in more quantitative careers like engineers, investors and programmers. Bitcoin is so different from the world as most know it that most initially rejected bitcoin as toy money, or an asset bubble destined to crash.
Related: Signs A Bitcoin Tidal Wave Is Forming To Disrupt Business
The difference for the early adopters was that, after hearing about bitcoin a few times, they learned more about it. Many early adopters had a "eureka" moment, when they understood the reasons why bitcoin had been successful -- and why it was likely to continue growing at a breakneck pace.
What The Bears Don’t Get
Most bears don’t spend time learning about bitcoin and seeking answers to their concerns. Instead, many compare a five-year-old currency to the most successful monetary units on the planet: the U.S. dollar and gold.
Tesla motors was founded in 2003, and no one is asking why Tesla doesn’t have the same market share as Ford or Toyota. Investors understand Tesla is still developing and has the potential to shake up the auto industry.
Investors and analysts should understand the bitcoin ecosystem is developing at breakneck speed. The ecosystem is vastly larger than it was a year ago, and is growing at an increasing rate. In five years, it might be fair to compare it to the U.S. dollar. Think how fast email overtook fax and traditional mail. That is the type of adoption curve bitcoin appears to be on.
Bears Focus on Volatility and Adoption
Why doesn’t bitcoin get the same understanding? The digital currency is barely five years old, is tackling a tougher problem and is growing faster than Tesla. However, bears focus on bitcoin’s price volatility and lack of adoption. And while highlighting the negative aspects of volatility, the bears do not mention bitcoin was the best investment of 2013.
2014 has brought news of a slew of companies accepting bitcoin -- including Dish Network, Overstock, the Sacramento Kings, Stripe, Square and the San Jose Earthquakes. With merchant acceptance increasing and hints of PayPal and Amazon planning to accept the currency, many are calling 2014 the year of adoption.
Related: Actions By 3 Fortune 500 Companies Signal Bitcoin's Price May Surge In 2014
What About Volatility?
As a nascent currency, bitcoin is going to have a lot of volatility for the foreseeable future. This is a good thing for many investors, because it provides opportunity for them to speculate and make a fortune if bitcoin becomes as ubiquitous as Visa.
However, for merchants and some investors, the volatility is a big turn-off. To satisfy those use cases, startup Bitreserve, which recently launched a beta program, has an offering to eliminate volatility while providing the benefits of bitcoin.
Related: Bitcoin Is Not Just A Volatile Bubble
Bitreserve promises to let bitcoiners have their cake and eat it, too, letting them choose if they want exposure to volatility or not while utilizing bitcoin’s innovative features. Bears who take the time to learn about bitcoin will realize it could be fundamentally better money than anything in existence. It just lacks maturity, and that's why bears become bulls.
Read more: http://www.nasdaq.com/article/one-secret-of-bitcoin-bulls-cm360386#ixzz34IlwRySo
Many people think bitcoin enthusiasts are unjustifiably excited about bitcoin’s potential.
There are many reasons for this excitement; the most obvious being that bitcoin-like technologies have the potential to change every financial transaction on the planet and enable never before seen types of financial transactions. But bitcoin bulls have a secret.
The Secret: Bears Become Bulls
Bitcoin bulls are excited about bitcoin because nearly all were non-believers upon initially hearing about bitcoin. And many bulls believe any open-minded person who spends time learning about bitcoin will agree it has massive potential, even if they disagree on the likelihood of that occurring.
Why People Convert
The early bitcoin adopters were typically people in more quantitative careers like engineers, investors and programmers. Bitcoin is so different from the world as most know it that most initially rejected bitcoin as toy money, or an asset bubble destined to crash.
Related: Signs A Bitcoin Tidal Wave Is Forming To Disrupt Business
The difference for the early adopters was that, after hearing about bitcoin a few times, they learned more about it. Many early adopters had a "eureka" moment, when they understood the reasons why bitcoin had been successful -- and why it was likely to continue growing at a breakneck pace.
What The Bears Don’t Get
Most bears don’t spend time learning about bitcoin and seeking answers to their concerns. Instead, many compare a five-year-old currency to the most successful monetary units on the planet: the U.S. dollar and gold.
Tesla motors was founded in 2003, and no one is asking why Tesla doesn’t have the same market share as Ford or Toyota. Investors understand Tesla is still developing and has the potential to shake up the auto industry.
Investors and analysts should understand the bitcoin ecosystem is developing at breakneck speed. The ecosystem is vastly larger than it was a year ago, and is growing at an increasing rate. In five years, it might be fair to compare it to the U.S. dollar. Think how fast email overtook fax and traditional mail. That is the type of adoption curve bitcoin appears to be on.
Bears Focus on Volatility and Adoption
Why doesn’t bitcoin get the same understanding? The digital currency is barely five years old, is tackling a tougher problem and is growing faster than Tesla. However, bears focus on bitcoin’s price volatility and lack of adoption. And while highlighting the negative aspects of volatility, the bears do not mention bitcoin was the best investment of 2013.
2014 has brought news of a slew of companies accepting bitcoin -- including Dish Network, Overstock, the Sacramento Kings, Stripe, Square and the San Jose Earthquakes. With merchant acceptance increasing and hints of PayPal and Amazon planning to accept the currency, many are calling 2014 the year of adoption.
Related: Actions By 3 Fortune 500 Companies Signal Bitcoin's Price May Surge In 2014
What About Volatility?
As a nascent currency, bitcoin is going to have a lot of volatility for the foreseeable future. This is a good thing for many investors, because it provides opportunity for them to speculate and make a fortune if bitcoin becomes as ubiquitous as Visa.
However, for merchants and some investors, the volatility is a big turn-off. To satisfy those use cases, startup Bitreserve, which recently launched a beta program, has an offering to eliminate volatility while providing the benefits of bitcoin.
Related: Bitcoin Is Not Just A Volatile Bubble
Bitreserve promises to let bitcoiners have their cake and eat it, too, letting them choose if they want exposure to volatility or not while utilizing bitcoin’s innovative features. Bears who take the time to learn about bitcoin will realize it could be fundamentally better money than anything in existence. It just lacks maturity, and that's why bears become bulls.
Read more: http://www.nasdaq.com/article/one-secret-of-bitcoin-bulls-cm360386#ixzz34IlwRySo
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