Topic: Bitcoin in 2015: Why did bitcoin fail? - page 2. (Read 3375 times)

There could be many reasons, like gov banning, exchange collapse, Ponzi schemes, protocol issues, or Bitcoin block size debate etc. But now Bitcoin is increasing. Every holders are happy and forget about the past.

Is it a poem?   kidding aside, upon reading that, it made me think, yeah, can I consider bitcoin a currency when most of the time I can't benefit from it without trading it to dollars then to our local currency. Can bitcoin really survive alone without fiat money? I am getting confused I can't seem to find the answer...

Everything is a ponzi scheme by your definition since everything starts with early adopters taking more advantage than the rest, and all things come to an end. This is why it's absurd to call Bitcoin a ponzi scheme.
By the strict definition, it is not, this has been debated before.

https://www.youtube.com/watch?v=7u4F8cpzqao

Google search "Bitcoin is a ponzi scheme"
I did not long ago.. Why ?
I was curious why people have ALWAYS thought that.
I wanted to see why they thought it and if it was because of technical reasoning.
What i found was hit #1 on the Washington post website.
Where a guy claimed YES it is more like a classic Ponzi / Pyramid scheme.. By Design !
The guy made some good points.

The basic core design of Bitcoin is doomed he said basically.
Bitcoin is mainly used a commodity and not a currency.. for a reason (it was made that way)

The reality is Bitcoin is rarely ever used as a currency and is this going to change drastically ?
If not ? Then anyone with 2 brain cells to rub together can see BTC is going to drown sooner or later.

A ponzi / pyramid scheme at it's core has a basic concept at work.
Users show up and inject money to hold a stake in the system.
But they need to cash out.. and they all want to do that for a profit too !
So if there is not enough fresh blood coming in on the bottom of the pyramid to support the top ?
it collapses !

Why would this be happening with Bitcoin ?
Adoption.
It started to ramp up in late 2013 then flew in reverse ever since.
Price and adoption has been decimated.
It's going to take a lot just to get where we were years ago.. to make up lost gains.
Never mind moving forward past a previous milestone.

So yeah we are far closer to Fail then we are of success.
And yes Bitcoin is far more like a Ponzi / Pyramid scheme than an actual currency.
I say that just to be honest here guys.. it's what i see loud and clear.
And obviously so does every person out there except you cheerleaders on this forum.
You people here have ALWAYS been 100% oblivious to the outside world.. you all live in a bubble.

Good luck with that..

To me it didn't fail. I think bitcoin has come a long way from where it use to be 2 months ago.

i'm pretty satisfied where it's at now.

Supply and demand also says that if the buying pressure stays the same within the next months (next 6 months until the halving) then the price in theory should double as the release of new coins will shrink by getting divided by 2. I would advice everyone that is a hardcore Bitcoin believer to have at least the equivalent of the next halving reward (12,5 BTC) by June.

Well before saying anything, the price is not really what makes bitcoin fail or succed, now having said that OP obviously meant that bitcoin lost a lot of its value. The price in 2013 was peaking at 1200$ and now is around 300$, yea it is increasing now but not increasing overall since the price was already way higher than 300$

probably has to do more with the fact that the adoption is growing very very slowly, almost stuck there, price is a natural consequence of that

without adoption, massive usage from average joe it's hard to have a good price

and why do you think so? Did it not exceed your expectations in price?

another fudmonster crawlled out of the failpool lol

ughhh....

It hasn't failed for me, the value is still increasing as we speak

Yes, that's what I thought. I can't figure out exactly if bitcoin applies under the law of supply and demand but I know having more sellers than buyers will eventually drop the price of it. As of 2015, price maybe not good as 2014 but bitcoin did not fail.

Well in my opinion bitcoin hasn't failed so question such as this cannot be answered.

this thread might fail 1 month to go  and price  is having surges

Bitcoin not fail,, bitcoin is goodnews now cause of high value

The more people that are interested to buy the more the price will increase, from the past week i see that the bitcoin price has been increased for more than 60 USD

I don't know exactly how it works but if there's more like me who only sells bitcoin and has no plan of buying then it will probably fail.

Bitcoin never fell beyond expectations this year it did tremendously.So I hope you can reevaluate what you had said

So nothing short of 0 cents value would convince you ?

What kind of a realistic scenario would you envision that we can all safely say BTC failed ?

Way i see it the adoption issue is the most important and in the last 2 years we have been in steady decline.
The price is slipping over time because there needs to be sustained growth in user adoption (BTC buyers)
This has not been happening !
When i poll all sources everyone says "it's dead right ?"
This is obvious by the way..

Most of you claim because BTC went form 600 to 300 (rather than zero) that means things are fine.
That seems pretty silly to me.

The downward pressure of Bitcoin sellers needs to be tempered with Bitcoin buyers.
For value to go higher you need more buyers than sellers.
And sorry but you guys have to do more than just hang around here as a private group of cheerleaders
..singing cheers and chants to each other.

The rest of the world thinks "Bitcoin was a thing" ..long ago !

Has it failed ?
In expectations yeah ..overall no.

Being realistic and honest about it all is the only way forward.

Prices tumbled after MTGOX shit that happened along with a lot of other bad things that caused the market value to tumble and fall. 2014/2015 had been a tough few years with a lot of bad things. MTGOX was one another was people panic selling, others with big company's getting out and closing shop. Governments banning the use of Bitcoin it not stopped maybe we shall see a return of positive things to happen in 2016 and maybe brake the 1k figure with the block rewards halving in june/july time. Who knows only time will tell in the matter of what way bitcoin goes.