Topic: Bear Report: Shitcoiners across the globe put on suicide watch! (Read 1726 times)

I have been warning people about the impending demise for years now..
It has played out precisely as i thought it would in the time frame i was expecting.
And all the idiots who argued with me over and over can now get a bug fat I TOLD YOU SO !

Thank idiots like Cryptsy and Coindesk for publicly going on the record saying "The more coins the better"
Those two for example both argued in defense of that.. crying it brings in new users.

Now ?
Coindesk is going to make sure that story / editorial is buried and Cryptsy i am sure is struggling to make a dollar LOL

..idiots  

edit:
Here is the Coindesk story i was talking about called, "Why We Need All The Altcoins We Can Get"
http://www.coindesk.com/need-altcoins-can-get/

Also maybe see the story they ran titled "How we (coindesk) mined 100,000 Doge coins"

And you forgot USD, RUR, CNY Mr. Assblast.

Bitcoin? BTFO.
Litecoin? Left your pockets a little light.
Monero? Blownero.

Are you seriously damaged as well? What point about: "Sell all your shitcoins and hold onto your fiat for dear life now" don't we fucking get? Do I literally have to put down every single piece of shit nerdcash here to get my point across? If anything you should be happy you have one last chance to not exit with 30% or greater losses. Your shirts still feel nice from last time by the way.

As far as the other post above me, I try not to come in and repeat myself when there's a 20% raise in top-shitcoin, because that would make me not only look retarded, but I would actually be certifiably retarded as well.

I'll be sure to bump this in mid/late december, because, you know, time frames can be longer than two weeks ya nutty 12 year olds.

You have forgot Monero/Bitcoin/Litecoin... Mr.Fanboy.

Hahahaha!  My uncle made me watch those!  He has a collection of old movies in his HD.  The 80's Karate Kid is lol.  Digged the Goonies tho.  Kept laughing to see Josh Brolin so young wearing the 80's get up.  lol

I reckon.  but being a kid in the 80s was totally amazing.  if you don't believe me, just watch goonies and karate kid

It seems like the recent news that banks are partnering to experiment with "blockchain technology" took the wind out of Ripple's sails, since being a settlement network for banks was the only interesting thing they had going. Now that banks are going to use their own closed system, Ripple is left searching for a reason to exist. The price is sinking accordingly.

Similarly, the media's attention on blockchain technology (i.e., private or "permissioned" ledgers) is making it clear that there's just very little need for more than 2 or 3 public blockchains, and that they have to have a strong network effect to have any utility and hope for long-term prospects.

Dogecoin is kinda sad in that some people really believed that it had a future, even though it was created specifically as a parody, being purposefully ludicrous and flippant. It was all fun and games until the price charts started steeply rising, and soon a great crowd of speculators assembled, hoping that they were on the launch pad of a new Bitcoin rocket ride. But we're talking about money here, and the rest of the non-internet meme world doesn't have the time or inclination to consider the value of a weird dog-themed cryptocurrency whose proponents communicate primarily in glurge. To outsiders, Bitcoin is weird enough as it is, so Dogecoin never stood a chance.

Bitshares is cool and all, with nifty things like DPOS and pegged assets and whatnot, but in the end it's the network that matters. That's the hard part. Your bells and whistles don't mean anything if nobody uses your coin. Bitshares and NXT and DASH all followed the same trajectory: a fast launch to around a $50M market cap (and higher), and then a slow drift back to earth as no network effect takes hold - no merchants, no media, no trusts, etc.

Litecoin seems to hang in there perhaps because it's just old enough to be entrenched as a secondary cryptocurrency with its own significant network effect. It's interesting to me that a technologically advanced coin such as Monero, with its obvious privacy advantages, can't even come close to eating into Litecoin's value and market share. That is the power of the first-mover advantage and of the network effect.

I can't hate fully on altcoins, though. The do serve as a way for home hobbyists to convert electricity into Bitcoin, people who otherwise might not bother to get into Bitcoin. They're like alternative Bitcoin mining chains.

Wow.  You guys are old. 

What's the members' average age here at bitcointalk?  35 - 40?

Reminds me of when the video game industry imploded back in the 80s. They just kept churning out one after another shit games. Back then one guy could make a game in a few days or weeks. Eventually the public got smarter and quit buying. Same thing happening here.

Reminds me of when the video game industry imploded back in the 80s. They just kept churning out one after another shit games. Back then one guy could make a game in a few days or weeks. Eventually the public got smarter and quit buying. Same thing happening here.

I could go on for quite a while. But I'm sure you already get it.

I believe since each distributed coin only offers a probabilistic security model, which opens you up to various "long cons" and other black swan events, it's inevitable the market cap will somewhat equalize out in the top 3-5 coins.  The financial industry will hedge between them and there will be no Bitcoin monopoly.

The financial industry will just not tolerate all their eggs in one basket that can be wiped out by random occurrence.  They can handle losing big with Lehman Brothers crashes and taking a 25% hit or whatever, but nobody is going to go all in on something where they can take a 100% hit.

It seems like the recent news that banks are partnering to experiment with "blockchain technology" took the wind out of Ripple's sails, since being a settlement network for banks was the only interesting thing they had going. Now that banks are going to use their own closed system, Ripple is left searching for a reason to exist. The price is sinking accordingly.

Similarly, the media's attention on blockchain technology (i.e., private or "permissioned" ledgers) is making it clear that there's just very little need for more than 2 or 3 public blockchains, and that they have to have a strong network effect to have any utility and hope for long-term prospects.

Dogecoin is kinda sad in that some people really believed that it had a future, even though it was created specifically as a parody, being purposefully ludicrous and flippant. It was all fun and games until the price charts started steeply rising, and soon a great crowd of speculators assembled, hoping that they were on the launch pad of a new Bitcoin rocket ride. But we're talking about money here, and the rest of the non-internet meme world doesn't have the time or inclination to consider the value of a weird dog-themed cryptocurrency whose proponents communicate primarily in glurge. To outsiders, Bitcoin is weird enough as it is, so Dogecoin never stood a chance.

Bitshares is cool and all, with nifty things like DPOS and pegged assets and whatnot, but in the end it's the network that matters. That's the hard part. Your bells and whistles don't mean anything if nobody uses your coin. Bitshares and NXT and DASH all followed the same trajectory: a fast launch to around a $50M market cap (and higher), and then a slow drift back to earth as no network effect takes hold - no merchants, no media, no trusts, etc.

Litecoin seems to hang in there perhaps because it's just old enough to be entrenched as a secondary cryptocurrency with its own significant network effect. It's interesting to me that a technologically advanced coin such as Monero, with its obvious privacy advantages, can't even come close to eating into Litecoin's value and market share. That is the power of the first-mover advantage and of the network effect.

I can't hate fully on altcoins, though. The do serve as a way for home hobbyists to convert electricity into Bitcoin, people who otherwise might not bother to get into Bitcoin. They're like alternative Bitcoin mining chains.