Can't stop Bitcoin from dropping down?

cbeast

donator

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Let's talk governance, lipstick, and pigs.

Quote from: wachtwoord on April 24, 2014, 07:25:22 PM

Quote from: TERA on April 24, 2014, 01:19:31 AM

Quote from: freequant on April 24, 2014, 01:10:38 AM

Bitcoin was the first prototype of a cryptocurrency but as time passes, it is slowly but surely losing its hegemony.
This was maybe the last bubble targeting specifically Bitcoin.
Next bubbles will increasingly push next generation coins to the forefront.
As for China, it won't come back through Bitcoin, but maybe new designs that play better with fiat can help reopening the flood gate.

Right. I could see Bitcoin in an encyclopedia: "The very first decentralized cryptocurrency. It wasn't like the currencies you may know today, such as Cosmos. It took at least 10 minutes to do a transfer, the client took 10GB of disk space, and the network consumed massive amounts of energy resources, relying on a brute force approach to security."

Haha very nice. It's 29.1 GB right now btw Wink

More likely the Encyclopedia Galactica will read: "Bitcoin was the very last store of value called 'money' used since primitive early civilizations. It freed people from the imaginary borders called 'countries' and the barbaric laws placed upon their subjects."

wachtwoord

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Activity: 2324

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Quote from: TERA on April 24, 2014, 01:19:31 AM

Quote from: freequant on April 24, 2014, 01:10:38 AM

Bitcoin was the first prototype of a cryptocurrency but as time passes, it is slowly but surely losing its hegemony.
This was maybe the last bubble targeting specifically Bitcoin.
Next bubbles will increasingly push next generation coins to the forefront.
As for China, it won't come back through Bitcoin, but maybe new designs that play better with fiat can help reopening the flood gate.

Right. I could see Bitcoin in an encyclopedia: "The very first decentralized cryptocurrency. It wasn't like the currencies you may know today, such as Cosmos. It took at least 10 minutes to do a transfer, the client took 10GB of disk space, and the network consumed massive amounts of energy resources, relying on a brute force approach to security."

Haha very nice. It's 29.1 GB right now btw Wink

Wilhelm

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Activity: 1652

Merit: 1265

Quote from: lynn_402 on April 24, 2014, 05:08:57 AM

Quote from: TERA on April 24, 2014, 01:19:31 AM

Quote from: freequant on April 24, 2014, 01:10:38 AM

Bitcoin was the first prototype of a cryptocurrency but as time passes, it is slowly but surely losing its hegemony.
This was maybe the last bubble targeting specifically Bitcoin.
Next bubbles will increasingly push next generation coins to the forefront.
As for China, it won't come back through Bitcoin, but maybe new designs that play better with fiat can help reopening the flood gate.

Right. I could see Bitcoin in an encyclopedia: "The very first decentralized cryptocurrency. It wasn't like the currencies you may know today, such as Cosmos. It took at least 10 minutes to do a transfer, the client took 10GB of disk space, and the network consumed massive amounts of energy resources, relying on a brute force approach to security."

I'll get flamed for this, but I have to say Peercoin's blockchain is below 300mb after a year and a half, and PoS makes it pretty much immune to 51% attacks while requiring very few ressource.

Just sayin'. Carry on.

Size of blockchain has been discussed many times and there are solutions.
Other than that I'd like to know if Peercoin has done as many transactions as bitcoin. Ultimately the blockchain has all transactions so every successful coin has a big blockchain.

(My opinion =>) Proof of stake is inflation since holding a coin gives more money. This becomes a loophole to create more coins and turns a coin into a pyramid scheme. This is bad for your coin and bad for the economy, money must flow.

aeciocoin

newbie

Activity: 32

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Quote from: mintodev on April 23, 2014, 11:01:13 PM

The Only way, it can be increased is when the chinese people are back into the game. You will see how the price will be increased.

REFUND ME!!!!!! 0.5btc isn't yours!

Wandererfromthenorth

hero member

Activity: 742

Merit: 500

China out of the game? what are you guise talking about did I miss something?
BTC China bank deposits work perfectly and they didn't even receive a notice from PBoC.
I don't remember in the end what happened with OkCoin or Huobi but if chinamen want to deposit money to buy BTC they can do it without problem.

Or not?

igorr

sr. member

Activity: 406

Merit: 250

Quote from: innocent93 on April 23, 2014, 10:42:11 PM

Some predict that Bitcoin will continue to fall down
And looks like there's nothing can push up the price.

Just MtGox can push up the price.

spazzdla

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Activity: 1722

Merit: 1000

Quote from: Jr65 on April 24, 2014, 10:26:00 AM

Did someone really just say that "Wall St. ($) was flooding in?" Wall St.? Chirp! Chirp! Crickets...and a few distant laughs! Not! Wall St. players invest with other peoples' money and if you think that they are going to start risking their careers and the financial lives of their clients for something as risky and new as BTC, you are insane. Way down the road, if BTC is still around and built out properly...maybe?!

Do google Kevin O'leary's view on bitcoin. You actually think they would bring banners and horns and announce to the world they are buying up bitcoin?

Jr65

newbie

Activity: 28

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Did someone really just say that "Wall St. ($) was flooding in?" Wall St.? Chirp! Chirp! Crickets...and a few distant laughs! Not! Wall St. players invest with other peoples' money and if you think that they are going to start risking their careers and the financial lives of their clients for something as risky and new as BTC, you are insane. Way down the road, if BTC is still around and built out properly...maybe?!

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Yet-Another-Sad Late-To-The-Party-And-All-The-Hot-Chicks-Are-Taken thread. Cry

njcarlos

sr. member

Activity: 280

Merit: 250

I'm deft

spazzdla

legendary

Activity: 1722

Merit: 1000

One event to cause distrust in paper and we'll see bitcoin strap on rockets.

Fractional banking cannot last forever... It is 100% not possible to have expoential economics and finite resources.. when it comes to the end.... let us hope the blind, deaf and stupid debt slaves will wake up and attempt to free themselves from the bondage they were born into.. but I have my doubts.

Mayuyu48

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Activity: 644

Merit: 500

just hold
after steady down price, it will come another pump Grin

buut little hope for this after big player like chinese out from market Angry

Ayers

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Leading Crypto Sports Betting & Casino Platform

Quote from: counter on April 24, 2014, 04:13:06 AM

The stagnation could continue if you ask me but It won't last long term. So much going on with BTC that I'd suspect things to pick up in the next few months.

yeah me too, i suspect a very big rise this summer

lynn_402

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Activity: 462

Merit: 253

Quote from: TERA on April 24, 2014, 01:19:31 AM

Quote from: freequant on April 24, 2014, 01:10:38 AM

Bitcoin was the first prototype of a cryptocurrency but as time passes, it is slowly but surely losing its hegemony.
This was maybe the last bubble targeting specifically Bitcoin.
Next bubbles will increasingly push next generation coins to the forefront.
As for China, it won't come back through Bitcoin, but maybe new designs that play better with fiat can help reopening the flood gate.

Right. I could see Bitcoin in an encyclopedia: "The very first decentralized cryptocurrency. It wasn't like the currencies you may know today, such as Cosmos. It took at least 10 minutes to do a transfer, the client took 10GB of disk space, and the network consumed massive amounts of energy resources, relying on a brute force approach to security."

I'll get flamed for this, but I have to say Peercoin's blockchain is below 300mb after a year and a half, and PoS makes it pretty much immune to 51% attacks while requiring very few ressource.

Just sayin'. Carry on.

Mervyn_Pumpkinhead

legendary

Activity: 876

Merit: 1000

Quote from: TERA on April 24, 2014, 01:19:31 AM

Quote from: freequant on April 24, 2014, 01:10:38 AM

Bitcoin was the first prototype of a cryptocurrency but as time passes, it is slowly but surely losing its hegemony.
This was maybe the last bubble targeting specifically Bitcoin.
Next bubbles will increasingly push next generation coins to the forefront.
As for China, it won't come back through Bitcoin, but maybe new designs that play better with fiat can help reopening the flood gate.

Right. I could see Bitcoin in an encyclopedia: "The very first decentralized cryptocurrency. It wasn't like the currencies you may know today, such as Cosmos. It took at least 10 minutes to do a transfer, the client took 10GB of disk space, and the network consumed massive amounts of energy resources, relying on a brute force approach to security."

It brings a tear to my eye, that some people here are actually starting to get it.
This is a part of the natural life cycle of technology:

Hyena

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Maybe investing into Pandacoin would be a good idea then?

counter

hero member

Activity: 798

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Time is on our side, yes it is!

The stagnation could continue if you ask me but It won't last long term. So much going on with BTC that I'd suspect things to pick up in the next few months.

poelling92

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Activity: 994

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Quote from: BusyBeaverHP on April 24, 2014, 03:11:00 AM

Why talk about the Chinese when we can talk about US exchanges opening and Wall Street flooding in?

Still waiting for fair US exchange start up, probably it is taking so long because so shaddy area.

fibonacho

member

Activity: 90

Merit: 10

if wallstreet gets in you can be sure everyone else will be locked out. Jpmorgans patent on "Method and system for processing internet payments using the electronic funds transfer network" at end of 2013 is hilarious. id rather it was done on here..

TERA

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Quote from: BusyBeaverHP on April 24, 2014, 03:11:00 AM

Why talk about the Chinese when we can talk about US exchanges opening and Wall Street flooding in?

People hate China but know the power it has when it is in so they still want it - they want that easy fast powerful rush, so they can get their rally NOW, even if it falls apart again later. It's like a Chinese opium addiction.

Topic: Can't stop Bitcoin from dropping down? (Read 2176 times)