Topic: bitcoin is most likely going to die, here is why... - page 10. (Read 2888 times)
The virtual currency has experienced many near-death experiences in its short four year life, but continues to the present day.
1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".
Bitcoin value is not based on Sentiments, It is always on Supply and Demand + cost of Miners. Sentiments do take some places in Bitcoin price but those sentiments for new and freshers who are here only to make few bucks, They dont even care what Mining is, What Blockchain is and what is the Importance of Bitcoin in the real world.
About your 70% back in 2014 happened same thing looks like you forget that it dropped 70%+ and created another ATH in 2016, this is one of the normal practice while trading is infantil, Which happened to Gold, Silver, Petro and Regular stocks also if you go back and check in its infantil period. Point to remember here in bitcoin value is Supply and demand and Cost of Bitcoin mining, according to cost of Bitcoin mining Average (Not according to different region) $3700+ is not in loss mining and $5400+ in term of US Mining is not in loss so Bitcoin price in $5400+ will still be profitable for most miners and that price is still Higher than 2017 price while 2017 Mining profitability price was $1800+
2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.
How you even thought that Bitcoin is no longer Unique? is Ripple is Unique for you
, Let me remind you Bitcoin is not the First Cryptocurrency in the world but Bitcoin is the First Decentralize Crypto Currency which itself is Unique. If you know the Concept about Decentralize than you will understand the Bitcoin, Again please don't forget that Bitcoin Blockchain has the Longest Blockchain and record which is 99.99% Hack-proof than any other altcoin in the market, Bitcoin is the least possibility of 51% attack than any other alt coin in the market. 3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.
There is always possibility of New Cryptocurrency to come but will never come as strong as Bitcoin because of its Longer and larger and Stronger Blockchain. If you are concerned about fast transaction than Bitcoin than you are rite there are but if you are still looking about faster and Safest than that is Bitcoin, I do believe you are concerned about safe also because you said a lot of people lost there coins. and yes bitcoin was created decade ago that is also a Unique about Bitcoin being developed decade ago this technology was hundreds years advance. Don't forget Internet was developed back in 60's we are still using the same thing only difference is few updates.
other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.
How you feel traditional Banking is safer? They can control your money anytime anywhere. and if you leave your locker open than please don't blame anyone to take your stuff from locker. Keep your locker Bitcoin itself is only safest Financial system in Universe which exists, Loosing your bitcoin from exchange or your computer getting pissed is not bitcoin network problem its because of your negligence. I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.
Here is what you gone completely wrong than any other of your statement, Bitcoin is not only money making game: if you want some money making game than please go and buy some Stocks where company performance will determine its value. Bitcoin and Blockchain is all about Technology, Supporting technology and the mean time making money. Anything goes to Moon will come back to Earth again but anything goes towards Strong Development , Safety, Unique, Powerful is beyond the moon.
Most likely means not sure. Well played! This is different from other skeptics that predicts the demise of bitcoin. Just the same, bitcoin will outlive these guys. 
I'm tired of hearing rumors that bitcoin is going to die, too many issues that explain this to decrease interest in bitcoin (downtrend), cryptocurrency conditions are now crucial, but that may only happen for a while like in the year 2017, this is the risk of cryptocurrency, so let's be hope the end of 2018 will be a good peak for bitcoin
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bitcoin is most likely going to die,
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I do not own any bitcoin
These reasons were when the price of bitcoin was 20k and when the price fell, everyone began to slander Bitcoin.
I think the reason is the fear of losing money in people. Also scam projects have a big effect on this and the number grows.
yes, it's just a fear of loss and panic, because every bitcoin of its price falls a lot of people think bitcoin will die, but bitcoin does not die and develop until now, I'm sure bitcoin will soon return at its best price. I think the reason is the fear of losing money in people. Also scam projects have a big effect on this and the number grows.
indeed many issues issues when bitcoin will die, I believe bitcoin bitcoin will never die, it is now bitcoin again emergency, by 2019 bitcoin will definitely improve and will be more advanced
Here is my prediction - in 3-5 years you will still own no coins, not that a plural will be affordable by then, and you will still be starting threads like this.
Have a good one.
You are right, sir. He is only part of the people who spread FUD. And I also believe 3-5 years he will not have a coin. Because he is too picky and can not stand the coins he really believes in.Have a good one.
I am quite happy with your answer, sir.
Well I don't know. I believe bitcoin is still very unique. It's first. It's known worldwide and it's doesn't have team behind it, so there is no risk like some coins has team issues and dies fast enough. Thou it's not gonna be around forever of course, but it will not die.
Perhaps bitcoin will dip into $4000 by the end of year.
what would you do if bitcoin fell to $ 4000? are you interested in being part of the whales?I'm not sure bitcoin will drop get to that value, even I'm analyzing the market, that bitcoin will stabilize between $ 7K or $ 8K until the end of 2018.
Well we all have our own different opinions on why we think Bitcoin is not going to die but I really believe that this coin can bring something to the future, something even those less fortunate people are able and capable of earning and can use them at the same time.
Bitcoin the price is unstblae because sometimes they decrease and sometimes it increase. But I hope mostly the price of the bitcoin will increase again the value and become stronger again. Bitcoin will not die this year and coming next year it's only temporary the price decrease.
If bitcoin ever died, it would be because of the MAJOR HACKS that happens every other day.. Millions of dollars stolen each hack.. Pretty soon hackers will own 99% of the bitcoin supply!!
Probably already got 50% I do not own any bitcoin, but I knew about bitcoin 6 years ago, before most people even heard about it. Except I didn't buy it then, I was wrong about that prediction. So I am trying to see if I can make some money now.
But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.
In my view, there are several problems:
1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".
2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.
3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.
other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.
I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.
I am also not sure about the future of bitcoin, everything is just going in against of bitcoin only. Bitcoin is suppose to be very sustainable and very versatile crypto currency and there were also the news that bitcoin will set up all new records by taking his valuation to a very high values and many wise economists even predicted that these valuation will rise up to very high value in the coming months of this year but still there are news that there are some countries who are completely in against of bitcoin. But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.
In my view, there are several problems:
1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".
2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.
3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.
other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.
I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.
Perhaps bitcoin will dip into $4000 by the end of year.
Your predictions are correct. Because based on the graph of Bitcoin, I still see the chart is still in the downtrend. It is possible that the price at the end of the year will be 3000-4000 dollars
Well, I am not at all concerned, if bitcoin die, after ten years. You can make money now, as long as bitcoin is here, so doesn't need to worry about distant future.
If bitcoin ever died, it would be because of the MAJOR HACKS that happens every other day.. Millions of dollars stolen each hack.. Pretty soon hackers will own 99% of the bitcoin supply!!
Reason for using Bitcoin: token with decentralized ledger governed by math (cryptography) is the future in my opinion and because Bitcoin proved it has best development and decentralization for almost a decade it is safest to hold. If you did some research and still believe there is no significant difference between Bitcoin and Ripple, better keep ignoring the cryptocurrencies, because there are hundreds of altcoins for a reason: for professional traders to extract value from newbies with get rich quick mentality who ignoring fundamentals.
Bitcoin wont definitely die, it has already passed many obstacle and dumping and pumping process many times and it always reach a new milestone so im sure it will be back at its peak like before or much better.
1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now.
Wrong. Not even 30% of people in the world know about Bitcoin. You see, you're prediction is nothing but a reflection of your attitude towards BTC. You think that since you and your friends know about it, everyone does as well. I advise you to check how many people have access to Internet, how many people have basic computer skills, you'll be surprised. I live in a small town and if I were to start asking around maybe one out of 10 people would know what BTC is and not even 1 in a 100 would own one.
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