bitcoins lack of interest, lack of traction

Amph

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Quote from: Nagle on April 10, 2015, 02:45:14 AM

Short history of Bitcoin:

2012: What?
2013: Wow!
2014: Aargh!
2015: Meh.

what about 2010 and 2011? there was a boom in 2011, where bitcoin went to something around x20 increase in price

about 2010 i don't know, and 2015 isn't ended, it can still surprise us

ensurance982

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Quote from: Pecunia non olet on April 08, 2015, 01:54:54 PM

why no interest? I tell you why: because the inflation. These suckers screwed it up. No profit = no interest. Period. People aren't interested in shit where they can't make money. Now we need a solid bullmarket to start without additional interest from the wider public. How will that happen?! It won't.

I have a theory: satoshi subconciously was afraid of his own invention and designed it so it won't take off too hard and cause too much disruption. He was afraid of the potential so he decided to make it more inflationary than needed to be to make sure it won't bring too much chaos to the world.

I think mad pumping doge or similar coins or something nice instead of old bitcoin could make sense for some whales. Bitcoin has faults in the design. Too much supply for many more years.

No. That's too many conspiracy theories for me... The reasons are much simpler. Even factors like Gox's Willy make more sense, or the readily available instruments to short Bitcoin. Before the November 2013 bubble there weren't any serious ways of shorting Bitcoin. Now there are - people can profit from the price going down. And they do - big time.

Nagle

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Short history of Bitcoin:

2012: What?
2013: Wow!
2014: Aargh!
2015: Meh.

D05GTO

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So they only wanted to start creating new accounts in the past 3 months? The ones that wanted to create accounts have been doing so for a long time.

mrhelpful

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Quote from: zimmah on March 31, 2015, 08:02:43 PM

Quote from: mrhelpful on March 31, 2015, 06:15:19 PM

Quote from: D05GTO on March 31, 2015, 11:04:57 AM

Yup. last 3 months are definitely up.

Those #`s are flawed, since their are people buying and sellling accounts. You can just predict a enormous growth based on those #`s, since it could be old users that go building accounts just to sell it or used for other manipulated purposed.

If you believe that, then thats naive thinking no offense.

Doesn't mater if it's a legit account or not.

There's still more activity one way or another.

You do realize that people can make 200 accounts on average given day right, and its really 1 person. Now do that with on the scale of 2 people thats already 400 accounts.

Or are you not getting growth can be manipulated with people catching on to do the same thing as well.

Pecunia non olet

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why no interest? I tell you why: because the inflation. These suckers screwed it up. No profit = no interest. Period. People aren't interested in shit where they can't make money. Now we need a solid bullmarket to start without additional interest from the wider public. How will that happen?! It won't.

I have a theory: satoshi subconciously was afraid of his own invention and designed it so it won't take off too hard and cause too much disruption. He was afraid of the potential so he decided to make it more inflationary than needed to be to make sure it won't bring too much chaos to the world.

I think mad pumping doge or similar coins or something nice instead of old bitcoin could make sense for some whales. Bitcoin has faults in the design. Too much supply for many more years.

ensurance982

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Quote from: mrhelpful on March 31, 2015, 06:15:19 PM

Quote from: D05GTO on March 31, 2015, 11:04:57 AM

Yup. last 3 months are definitely up.

Those #`s are flawed, since their are people buying and sellling accounts. You can just predict a enormous growth based on those #`s, since it could be old users that go building accounts just to sell it or used for other manipulated purposed.

If you believe that, then thats naive thinking no offense.

To a certain degree: Yes. But it can't just be second or throwaway accounts or even accounts that are supposed to be sold at some point. The metrics still point up. The price will turn around at some point!

Q7

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The bitcoin graph might be showing a slight decrease in the search volume but that's hardly significant. Moreover to compare it to Uber might be a little bit way too off because at this stage, since Uber is still new, people will definitely be showing interest to learn and lookup what the technology is all about.

uki

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Quote from: aguanyardiners on April 01, 2015, 07:49:37 PM

Capital just care about one thing: (rate of) profitability

Bitcoin attracted the media when was going up (bubble) and now that the price dropped and stabilized has no interest for speculation, when it will grow up again will recover all this attention.

Huge attention in main stream media is typical for the mania phase, and currently we are very far from there. If you see huge attention in the media about something that is usually rather a niche-topic, it is a good sign to look for an exit rather than an entry point. Currently we are reversing the trend, and that is usually very boring, long and silent process with no media attention. So far, so good.

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Quote from: bornil267645 on April 05, 2015, 06:35:53 AM

Something needs to be done in order to attract more people in the bitcoin community. The market is not helping at all. Hope it might have some tricks to involve new users.

More VC are invested in bitcoin infrastructure. This is what we need at this stage.

bornil267645

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Something needs to be done in order to attract more people in the bitcoin community. The market is not helping at all. Hope it might have some tricks to involve new users.

ensurance982

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Quote from: jasonjm on March 31, 2015, 02:09:42 AM

http://www.google.com/trends/explore#q=bitcoin&date=today%2012-m&cmpt=q&tz=

not my imagination

new search lows in last 12 months for bitcoin

not good

now compare it with a successful technology, like uber

http://www.google.com/trends/explore#q=uber&date=today%2012-m&cmpt=q&tz=

I don't think that Bitcoin will gain major traction as a way of paying for your groceries or whatever, but it could get some grasp in online shopping and definitely has very unique aspects when it comes to being an asset.

Amph

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Quote from: dothebeats on March 31, 2015, 12:50:14 PM

Quote from: Amph on March 31, 2015, 05:43:50 AM

i've already said in another thread that the interest is everything , no matter what you do (destroying bitcoin thus decreasing number of coins in circulation, won't rise the price if there is no interest ecc...)

without it no new money influx is possible as newbie are not buying any btc, and having only the whale playing with the market(aka manipulation) is even worse

this lack of interest is caused by the "$1200-$230" scenario, we need a pump now to retrieve faith in bitcoin

Seriously? You believe that the only reason why there is a massive influx of new users is because of the bubble that happened last Nov. 2013? How about what happened when bitcoin costs nothing at all? Yes, we can say that a great interest in bitcoins happened when the price was on its highest, but we cannot simply say that the only thing that will retrieve the faith of the masses in bitcoin is through a pump (which isn't a good sign for most of the merchants as it will increase the rate of volatility.) The prices that we are sitting right now isn't what most of the experienced economists and individuals expected, but at least it is not a part of another bubble that might burst out again and drive the price (and the faith) downwards.

yes the bubble was a large part for increase the adoption, add doge to that and you have the only two thing that increased the users base of bitcoin

well you a right a pump is not healthy, i used a wrong word, "rise" is a better term, the problem now is the price, many people lost faith because of this, if the price would rise to 600-1000 again, many will return to buy into the pump(rise or whatever you want to call it)

chaoman

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bitcoin is already extremely useful for a gambler like me. if we can get all gamblers to see and understand the superiority of gambling with bitcoin, that itself will raise the price to a new ath.

now imagine uber using bitcoin, this rocket is just fueling up boys.

aguanyardiners

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Capital just care about one thing: (rate of) profitability

Bitcoin attracted the media when was going up (bubble) and now that the price dropped and stabilized has no interest for speculation, when it will grow up again will recover all this attention.

rax

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Who cares. WRT adoption, this is the only metric that really matters.

Natalia_AnatolioPAMM

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Quote from: Meuh6879 on March 31, 2015, 11:01:28 AM

Uber is a honey pot for unemployed persons.
Bitcoin is a debankary system.

it's a little more complicated to explain to average people that they love his bank. Roll Eyes

(and pay the bank to do somes jobs)

not complicated but impossible sometimes

_ajv_

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Google Trends chart from latest ATH to present day does not look that bad when compared to one from the high of 06/2011 to 12/2012, which is the last month when the rise to April 2013 hadn't yet really began. Yet it took only till the next month to start the rise. So I'd say that you cannot predict anything with Google Trends - regarding the price at least.

http://www.google.com/trends/explore#q=bitcoin&date=6%2F2011%2019m&cmpt=q&tz=

http://www.google.com/trends/explore#q=bitcoin&date=11%2F2013%2017m&cmpt=q&tz=

gentlemand

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Quote from: techgeek on April 01, 2015, 01:46:37 PM

Seems like most will agree with the statement "why bother?".

And no one likes to swallow the risk that can "potentially" save money. People want a definite concreate answer of saving not a "maybe". The sad part to all this, is that we havent reached a way to do that, because you have to re-educate people on how to acquire money.

This is why a ETF should be formed instead.

Yup. I think it's more sensible to think of it as a protocol that'll form the spine of services that the public will use. Most just don't have the inclination or skills to make proper use of it. Billions use TCP/IP every day. Barely anyone could explain it to you.

There's still giant upside potential, but it might be pretty far out of the public eye.

Weeping because your local baseball card shop has stopped taking bitcoin is ludicrous.

People should be watching what the heavyweights are up to. They're the ones who'll drive regular folks into using it whether they know it or not.

techgeek

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Quote from: gentlemand on April 01, 2015, 01:26:41 PM

Quote from: jasonjm on April 01, 2015, 12:08:58 PM

Comparing bitcoin to Uber in last 12 months is very valid.

Both are disruptive technologies to the status quo.

I have not heard bitcoin mentioned a single time in my daily life by people around me in the last 12 months, nothing, nada, zip.

Uber? maybe 200 times in the last 12 months.

that's how bitcoin needs to be, but sadly it seems to be trending the wrong direction.

Well, let's be honest here. Uber makes life more convenient for whoever's using it and maybe saves them money (I dunno).

Obtaining, storing and using Bitcoin is a ball ache right now, considerably more than existing options. It can potentially save you money if you're willing to swallow the risk. Most folks are going to think 'why bother?'.

Anyone who thinks otherwise has spent too long down this particular rabbit hole.

If it gets to a point where most people don't necessarily know they're using it but it is making their lives easier, that's when it might go places. I think some interesting uses will trickle out over the next couple of years.

A prime case is Abra. There was virtually no mention of Bitcoin, only the benefits.

Seems like most will agree with the statement "why bother?".

And no one likes to swallow the risk that can "potentially" save money. People want a definite concreate answer of saving not a "maybe". The sad part to all this, is that we havent reached a way to do that, because you have to re-educate people on how to acquire money.

This is why a ETF should be formed instead.

gentlemand

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Quote from: jasonjm on April 01, 2015, 12:08:58 PM

Comparing bitcoin to Uber in last 12 months is very valid.

Both are disruptive technologies to the status quo.

I have not heard bitcoin mentioned a single time in my daily life by people around me in the last 12 months, nothing, nada, zip.

Uber? maybe 200 times in the last 12 months.

that's how bitcoin needs to be, but sadly it seems to be trending the wrong direction.

Well, let's be honest here. Uber makes life more convenient for whoever's using it and maybe saves them money (I dunno).

Obtaining, storing and using Bitcoin is a ball ache right now, considerably more than existing options. It can potentially save you money if you're willing to swallow the risk. Most folks are going to think 'why bother?'.

Anyone who thinks otherwise has spent too long down this particular rabbit hole.

If it gets to a point where most people don't necessarily know they're using it but it is making their lives easier, that's when it might go places. I think some interesting uses will trickle out over the next couple of years.

A prime case is Abra. There was virtually no mention of Bitcoin, only the benefits.

jasonjm

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Comparing bitcoin to Uber in last 12 months is very valid.

Both are disruptive technologies to the status quo.

I have not heard bitcoin mentioned a single time in my daily life by people around me in the last 12 months, nothing, nada, zip.

Uber? maybe 200 times in the last 12 months.

that's how bitcoin needs to be, but sadly it seems to be trending the wrong direction.

randy8777

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Quote from: spazzdla on March 31, 2015, 07:56:26 AM

Ahh we are finally starting to get into the dispare phase.. Starting not there yet boys.

Sub $100 before any real uptrend begins.

which means you sold all your coins right? if you really believe it will go sub $100 then selling at $240 and buying back at $100 is a great chance to increase your coins. but you didn't sell

uki

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Quote from: Dafar on March 31, 2015, 12:36:32 PM

Lol @ comparing UBER and any Startup company to bitcoin's price..... LOL

How stupid can some people be

why do you think people making such a comparison are stupid? Can you elaborate more on that, otherwise it is not worth much.
I think that making a comparison to a startup is valid because that is where Bitcoin is right now. It is all still beta.

zimmah

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Quote from: mrhelpful on March 31, 2015, 06:15:19 PM

Quote from: D05GTO on March 31, 2015, 11:04:57 AM

Yup. last 3 months are definitely up.

Those #`s are flawed, since their are people buying and sellling accounts. You can just predict a enormous growth based on those #`s, since it could be old users that go building accounts just to sell it or used for other manipulated purposed.

If you believe that, then thats naive thinking no offense.

Doesn't mater if it's a legit account or not.

There's still more activity one way or another.

mrhelpful

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Quote from: D05GTO on March 31, 2015, 11:04:57 AM

Yup. last 3 months are definitely up.

Those #`s are flawed, since their are people buying and sellling accounts. You can just predict a enormous growth based on those #`s, since it could be old users that go building accounts just to sell it or used for other manipulated purposed.

If you believe that, then thats naive thinking no offense.

dothebeats

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Quote from: Amph on March 31, 2015, 05:43:50 AM

i've already said in another thread that the interest is everything , no matter what you do (destroying bitcoin thus decreasing number of coins in circulation, won't rise the price if there is no interest ecc...)

without it no new money influx is possible as newbie are not buying any btc, and having only the whale playing with the market(aka manipulation) is even worse

this lack of interest is caused by the "$1200-$230" scenario, we need a pump now to retrieve faith in bitcoin

Seriously? You believe that the only reason why there is a massive influx of new users is because of the bubble that happened last Nov. 2013? How about what happened when bitcoin costs nothing at all? Yes, we can say that a great interest in bitcoins happened when the price was on its highest, but we cannot simply say that the only thing that will retrieve the faith of the masses in bitcoin is through a pump (which isn't a good sign for most of the merchants as it will increase the rate of volatility.) The prices that we are sitting right now isn't what most of the experienced economists and individuals expected, but at least it is not a part of another bubble that might burst out again and drive the price (and the faith) downwards.

Dafar

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dafar consulting

Lol @ comparing UBER and any Startup company to bitcoin's price..... LOL

How stupid can some people be

coinableS

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Quote from: gentlemand on March 31, 2015, 11:03:43 AM

I'd say new user stats on here is a much, much more meaningful statistic than google searches. It takes some proper commitment to sign up here rather than type 'what's this bitcoin drug paedo shit' into google and then go and look at some tits.

R/bitcoin has 100,000 more subscribers than when I joined. There's 300,000 more joins on here than when I signed up. It's a long way from anything exponential but it's chugging steadily onwards.

That's an excellent point. /r/bitcoin and bitcointalk are the two largest communities in bitcoin land. I think my personal path through the different communities was btc-e trollbox, then to reddit then to bitcointalk. Using new users as a metric of adoption/interest is as good as it gets.

D05GTO

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Yup. last 3 months are definitely up.

gentlemand

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I'd say new user stats on here is a much, much more meaningful statistic than google searches. It takes some proper commitment to sign up here rather than type 'what's this bitcoin drug paedo shit' into google and then go and look at some tits.

R/bitcoin has 100,000 more subscribers than when I joined. There's 300,000 more joins on here than when I signed up. It's a long way from anything exponential but it's chugging steadily onwards.

Meuh6879

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Uber is a honey pot for unemployed persons.
Bitcoin is a debankary system.

it's a little more complicated to explain to average people that they love his bank. Roll Eyes

(and pay the bank to do somes jobs)

uki

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Quote from: jasonjm on March 31, 2015, 02:09:42 AM

http://www.google.com/trends/explore#q=bitcoin&date=today%2012-m&cmpt=q&tz=

not my imagination

new search lows in last 12 months for bitcoin

not good

now compare it with a successful technology, like uber

http://www.google.com/trends/explore#q=uber&date=today%2012-m&cmpt=q&tz=

dude, have you checked the absolute values of what you are comparing?
It looks like Bitcoin stabilised at the relatively high level (about 60) for the last 12 months. Uber has still to get there.

coinableS

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I think the get rich quick crowd has been leaving over the last year. There's less people searching for it because they searched it before, read a word they didn't understand and closed it out. Then they probably heard a lame news broadcast or youtube claiming that bitcoin is dead, or another hack, or something so they think they already know what bitcoin is. But that's fine, the lull should be a good thing while we work on more infrastructure around bitcoin. Give it another year or two and there should hopefully be something new in the bitcoin world that the general public will find useful.

spazzdla

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Ahh we are finally starting to get into the dispare phase.. Starting not there yet boys.

Sub $100 before any real uptrend begins.

BitBOOM

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Well bitcoin has been in a slump over the past year. Things always trend more during rises.

Torque

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Quote from: jasonjm on March 31, 2015, 02:09:42 AM

http://www.google.com/trends/explore#q=bitcoin&date=today%2012-m&cmpt=q&tz=

not my imagination

new search lows in last 12 months for bitcoin

not good

now compare it with a successful technology, like uber

http://www.google.com/trends/explore#q=uber&date=today%2012-m&cmpt=q&tz=

You're badly cherry-picking timeframes, dude.

http://www.google.com/trends/explore#q=bitcoin&date=1%2F2010%2061m&cmpt=q&tz=

This chart clearly shows online search interest is rising since Bitcoin's inception.

kwukduck

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I told you so...

Also look at what people are searching for... Exactly, the value.
People don't care for bitcoin as a technology, people care to make quick money in fiat with it.
As I've said before, even though bitcoin may have some technical points that have to be addressed, it's really the people that are destroying it at an ever increasing rate.

This makes me very sad though. It goes to show the level of economic and social awareness and motivation of the average human being.

I have talked about bitcoin to so many people in the past, how it challenges established standards, nope, that's not what they wanted to know.

Amph

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i've already said in another thread that the interest is everything , no matter what you do (destroying bitcoin thus decreasing number of coins in circulation, won't rise the price if there is no interest ecc...)

without it no new money influx is possible as newbie are not buying any btc, and having only the whale playing with the market(aka manipulation) is even worse

this lack of interest is caused by the "$1200-$230" scenario, we need a pump now to retrieve faith in bitcoin

Xiaoxiao

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Quote from: POM on March 31, 2015, 03:21:30 AM

Quote from: kefky on March 31, 2015, 02:16:40 AM

this isn't good sign

not good at all

Not necessarily because those that have already searched for "bitcoin" won't be searching again, but yeah the rate of new ones is down.

POM

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Quote from: kefky on March 31, 2015, 02:16:40 AM

this isn't good sign

not good at all

Somekindabitcoin

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Quote from: jasonjm on March 31, 2015, 02:09:42 AM

http://www.google.com/trends/explore#q=bitcoin&date=today%2012-m&cmpt=q&tz=

not my imagination

new search lows in last 12 months for bitcoin

not good

now compare it with a successful technology, like uber

http://www.google.com/trends/explore#q=uber&date=today%2012-m&cmpt=q&tz=

Uber is just shooting up, and it's not in the positive way. It's because you can find people selling uber accounts for a dollar each on a dark web, website. Bitcoin is holding down low because people are waiting for more adoption options. Once we get bitcoin in every store or even a major, trusted exchange, we would have more positive and negative news regarding bitcoin. Right now, there's not much people care about.

NotHatinJustTrollin

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Interesting comparison.

kefky

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this isn't good sign

jasonjm

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http://www.google.com/trends/explore#q=bitcoin&date=today%2012-m&cmpt=q&tz=

not my imagination

new search lows in last 12 months for bitcoin

not good

now compare it with a successful technology, like uber

http://www.google.com/trends/explore#q=uber&date=today%2012-m&cmpt=q&tz=

Topic: bitcoins lack of interest, lack of traction (Read 3370 times)