An Open Message to all Bitcoin Investors - page 3.

nastybit

newbie

Activity: 42

Merit: 0

BittBurger, DGulari, I completely agree with you except for the $1 part, not going to happen!
The network and the block chain, "Bitcoin", is unaffected and it's growing as we speak, it doesn't depend on FIAT so it's immune to crashes.

Quote from: DGulari on December 18, 2013, 11:12:24 AM

Only the speculators are hurt by this. Nearly all of us are busy building something good - and don't care about price in the least. This isn't the first crash - and it isn't going to be the last.

this ^^^

superduh

hero member

Activity: 602

Merit: 500

makes sense- except if the price goes down to 1.. something really bad possibly fatal just happened.

BittBurger

hero member

Activity: 924

Merit: 1001

Quote from: DGulari on December 18, 2013, 11:12:24 AM

The functionality of bitcoin is not 40% less from its peak. The functionality is almost the same or better than it ever was. Only the price is down. The only people who care about the price are those speculators caught on the wrong side of the swing. Nearly everyone in the bitcoin community who is working to build something nice - does not depend upon the high prices. They work to make bitcoin better whether the price is $1 or $1000.

Only the speculators are hurt by this. Nearly all of us are busy building something good - and don't care about price in the least. This isn't the first crash - and it isn't going to be the last.

Brilliant rephrasing of the first post. Well put!

-BittBurger-

DGulari

legendary

Activity: 1386

Merit: 1000

KawBet.com - Anonymous Bitcoin Casino & Sportsbook

The functionality of bitcoin is not 40% less from its peak. The functionality is almost the same or better than it ever was. Only the price is down. The only people who care about the price are those speculators caught on the wrong side of the swing. Nearly everyone in the bitcoin community who is working to build something nice - does not depend upon the high prices. They work to make bitcoin better whether the price is $1 or $1000.

Only the speculators are hurt by this. Nearly all of us are busy building something good - and don't care about price in the least. This isn't the first crash - and it isn't going to be the last.

BittBurger

hero member

Activity: 924

Merit: 1001

Quote from: poblico on December 18, 2013, 10:40:59 AM

Quote from: BittBurger on December 18, 2013, 10:31:02 AM

That's the *entire* reason it was created.

I wouldn't go so far, bitcoin was created to give people more freedom with their assets not to oppose gov.

What Bitcoin does, equates to taking economic power away from the Government. By definition. That will be viewed as "opposition". And rightly so. We can argue Satoshi's motives if you want, but neither of us knows. His comment on the first Bitcoin transaction however is telling. Do you know what he wrote? If you think Bitcoin doesn't forcibly remove economic control from Govts and Central Banking Systems, then I don't believe you understand Bitcoin. I am not Libertarian. Nor am I anti-government. In fact I also love Obama, and hate the Tea Party. (The very people who are most prone to adopt Bitcoin / Gold / and be anti-government). But I am realistic about what Bitcoin is. And what it does. I see a lot of new posters (fewer than 30 posts) who are pro regulation. And afraid that Bitcoin will get labeled as "distruptive". Bitcoin is disruptive. Assuming its elements are not changed by the Dev teams, governments will need to change to accommodate it. Not the other way around.

Melbustus

legendary

Activity: 1722

Merit: 1004

Each of these boom waves generates a lot of headlines, and a lot of people who don't really understand bitcoin and are just fickle momentum chasers. But these phases also leave behind a new layer of bitcoin believers, advocates, and infrastructure builders. It's happened with every wave. The ecosystem gets stronger. The weak-hands (weak minds?) can do what they please.

poblico

member

Activity: 75

Merit: 10

Quote from: BittBurger on December 18, 2013, 10:31:02 AM

That's the *entire* reason it was created.

I wouldn't go so far, bitcoin was created to give people more freedom with their assets not to oppose gov.
But also gov’s can be corrupts and make “mistakes” bitcoin gives you the ability to make your own mistakes

Quote from: BittBurger on December 18, 2013, 10:31:02 AM

If it phases you, I recommend you get out while you still can.

First rule of bitcoin!!!

AnonyMint

hero member

Activity: 518

Merit: 521

Agreed all except where you wrote "Bitcoin" replace that with "cryptocurrencies ecosystem including altcoins". Bitcoin is not sufficient to defeat the corrupt governments (which is all of them in my opinion). It lacks several critical things. That will have to come from an altcoin that does not yet exist.

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Hear hear! Except for the last part, that can't happen.

BittBurger

hero member

Activity: 924

Merit: 1001

Dear Investors:

Anyone who bothered to educate themselves on Bitcoin, would know that it faces years of opposition from governments and federal banking systems. That's the *entire* reason it was created. It's going to get banned, outlawed, and fought every step of the way, because it is designed to take power away from governments and banks.

Weak hands and "get-rich-quick" investors saturate the buying and selling market right now. They frenzy buy, then panic sell. *They* are the reason the price is volatile. Not Bitcoin. Informed companies and investors continue to pour hundreds of millions into start ups and infrastructure because they know what's coming. While "day traders" and the ill-informed exhibit bipolar manic/panic behavior on the trading exchanges. These people have absolutely nothing to do with the technology and infrastructure related to Bitcoin.

This isn't a "stock" that's going down in value because "the company is tanking". The crashes are just as much speculation as the rises were. Bitcoin itself remains unchanged. Actually, its growing. The price could drop to $1.00 tomorrow and it wouldn't phase me. If it phases you, I recommend you get out while you still can.

-BittBurger-

Topic: An Open Message to all Bitcoin Investors - page 3. (Read 4483 times)