Topic: Bitcoin Crashing Again.... (Read 6808 times)

Perhaps you may be right!

Yea....

A lot worse before it gets better means a new level regarding price! So when it gets back to $10 you can still hold and hope for that 1,000+

We need some more good news in the press to boost buying confidence, any large merchants are also selling Bitcoin for Fiat as soon as they receive it, they don’t hold on to it long enough etc all contributing to the decline in value. Hopefully it will shoot up again as people predict but it will probably get worse before it gets better.

Maybe the market cap produced by the $800-900 price was just unsustainable and the bubble has just finally popped to a more reasonable level?

Why does year end have to signify anything??? Do you have any idea what they do in illiquid markets like this?! They = huge wales... They literally roller coaster the thing all year & since no new money is really in this market, when they pull out it looks "flat" & the end of the year of course looks the same as the start(or at a loss) because there is literally no new money going into BTC. Stop getting fooled by venture capitalist who throw money into business that push out fiat currency to them! They're not buying or holding bitcoin!!! They're funding companies because they have insane profit margins right now and are largely unregulated. That's the only reason.

I acknowledge that Bitcoin price is down for 2014, but compared to September of 2013, we're still up.

Let's see how we finish out the year first, before making unsupported statements.

LMFAO! Yes, That pattern being a cliff drop!

Yes, it came as a response to the inequalities of the current system. Without the continued abuse by govts etc, it may not have.

Being an anarchist, it don't seem all that crazy to me. But I don't really want to see a corporate oligarchy either, but rather decentralized enclaves of people voluntarily cooperating. Corporations in their current form are able to commit great abuses because they are legally considered a person via a state charter. Juridical persons should not exist. Without the State, Corporations lose that advantage, and must compete fairly, even given their scale. They cannot, for instance, maintain protected monopolies (which contrary to popular propaganda is one of the biggest reasons for a corporation to exist) nor prevent others from bringing innovative competing products to market. Ending the governments will level the playing field far more than any revolution or "reform" ever could.

And I totally agree with your last sentence

I'm going to say something that may sound crazy to most people, but in this decades we could see governments become obsolete, if they aren't already, having a wide perspective of things. Corporations are and will be always more the center of our world, leading progress and innovation and it seems to me that already now it's just a matter of time until they have more power than governments. Just think how much progress in artificial intelligence will increase in the next decade, just take a look at some of the projects from IBM on smart cities or Watson, or Google with its translator and facial recognition alghoritms. These are just small pieces of what will become a big picture some day. Why should we need a government then?
And Bitcoin is one of those pieces. This could be the longest bear phase we seen so far, but I ultimately believe cryptos are part of the future. Bitcoin couldn't have come at a better time.

Good point.

Bitcoin could hit other economies harder and make more people invest in USD/Euro/BTC.
Maybe they we're even expecting China to get hit hard

Where am I claiming that the US government launched bitcoin? I'm merely stating that they aren't stopping it.

If the US debt reaches a level that the US dollar collapses they will invent a new currency like the US Yen and screw over all debtors.

You do realize that the wealth in US and other countries is superficially created?

If bitcoin would be the only currency wealth would have to be earned and not printed.
Governments would need to be efficient and have less tools to manipulate the economy.
If this is a good or bad thing you can decide.

Edit: I am pro bitcoin because I believe that governments should be efficient, and it might stop wars and bring peace

If you're talking about it's nature, it hasn't changed significantly since 1917. (When the Senate was abolished in all but name). However, in it's actual presence in our lives and regulation of fucking EVERYTHING, it has accelerated significantly since I was young. When I was a young man, I could carry a rifle practically anywhere if I wasn't waiving it around. I could walk into a courthouse without being searched. I could walk at night without being accosted. I was never even ASKED to identify myself at random. And the police at least pretended to respect the laws they were hired to uphold.

Now, in most parts of the country (I've been to most of them), it's an open police state. They can, and do, kill with impunity. I could go on and on, but I think I make the point.

I never was all that enamored of the fairy tales, but I think the biggest wake up for me was how many of my friends went on vacation to other countries and never came back. When you hear those fairly tales for your whole life, but are able to hack into the networks and see the other side, it gets pretty hard to deny. When you can watch your nation tumbling headlong into the abyss at a pace that would have frightened Nero, then you really have to reassess. The vaunted dollar is worth about -3000% from the time I first entered the workforce. While it's rate of decline is not as bad as it was a couple of years ago, it's still ugly. Wages have not even come close to keeping up with inflation, and yet more dollars are made. I could again cite hundreds of examples, but you get the point.

I don't think it changed that much if at all. Just as you grew older you got less enamored with fairy tales that every government spreads to control their humans. Every government's monstrosity is in direct correlation with the power they hold, they, just like corporations, never actually care about individuals or environment or peace; the only thing on their agenda is monetary profit and control over resources, everything else are fairy tales of different depth, from the "I am god so do as I say" in North Korea to "We live in a free society and elect our president" in USA

It has occured to me.

The reason I don't think so, though it would be a beautiful "black" op. is that when it comes to monetary policy, the USG has shown a truly remarkable lack of imagination since their great god J.M. Keynes found his "long run". Now I could see one of the "shadow" organizations within the USG doing it on their own, but it just seems a bit too elegant for their type.

But again, you can't discount the possibility. Especially since it has a counter effect of destabilizing OTHER fiat currencies to a greater degree (due to scale) than the dollar or Euro. It could actually strengthen the big boys by strangling the small ones.

What makes you think it wasn't the US government that launched bitcoin?  We need a replacement/backup currency in place for when the US national debt reaches a level that the US dollar begins to collapse.  http://www.usdebtclock.org/

Rather than passing the global financial leadership position on to the next emerging economic leader you simply change the rules...

I believe you. Watching it from the inside has been an exercise in frustration. It has become something monstrous and alien in just my lifetime. It doesn't even superficially resemble the country I became an adult in, and that's not a significant amount of time. To me, it looks much like Germany just before the collapse of the Weimar republic.

I also agree with your conclusions.

It's more fun looking at the United States as an outsider
I strongly believe that the United States is already working on a plan B and C to kill bitcoin.
Plan A is watch it kill itself and never become a currency.

Since P2P filesharing is hard to stop I don't think they can ever stop Bitcoin. Trying to stop it now would only make it more interesting.

Why kill bitcoin? We all know how the fiat situation of the USA is. Bitcoin would be like having an accounting firm checking your bookkeeping. There is no escape, your can't fake your books.
Printing money will no longer be possible and countries (incl. USA) would need to earn their money just like their citizens. Waging war would be a costly business so I also believe that the world might even become a better place.

I hope so. Another 50 bucks down and I can afford to buy a whole bitcoin and hold it