Topic: Delusional bulls be Like... - page 2. (Read 5390 times)

Your other post above was pretty reasonable, but then you had to ruin it!

I doubt the masses are interested in dealing with bitcoin when there are other alternatives like Applepay  or ripple and others which are actually faster than bitcoin since it can take up to half an hour or more for the confirmations to go through. Sure some merchants accept 0 confirmation transactions but that's not secure, you don't need the blockchain if you have to trust strangers...
I don't see it replacing credit cards when you have to buy groceries or whatever. Especially in the eyes of the masses who don't put decentralisation above how fast/easy it is to use it...
Also bitcoin transaction fees will be eventually higher as block reward is reduced (long term as you say), that is one of the limitations of the bitcoin blockchain and his proof-of-work...

Maybe other cryptos like nubits or ripple or others will make it regarding fees, not sure about bitcoin.

I don't agree.  In the near future:

1. Consumers will be offered more merchant incentives (e.g., product discounts, bulk rates, etc.) to use bitcoin over fiat/credit cards
2. Daily transactions will be easier and faster with bitcoin on mobile devices (through services like CB/BitPay that will offer near zero latency)
3. Merchants will benefit more as services like Coinbase/BitPay shield them from volatility, chargebacks, and fees.
4. Transaction fees will eventually fall to near zero over time.

And all this will get better and better with time.  In ten years, it will be working at a fairly decent level.  In 20+, near optimum.  In 30, no one will even remember the early days.... at all.

This is if you take the "cryptocurrencies become mainstream CURRENCIES (and not instruments of mere speculation or gold 2.0 wannabe stores of value)" as likely.

I was more referring to the use cases when it actually makes sense to use bitcoin as opposed to regular fiat money and credit cards. AKA: drugs and illegal goods in general, donations to wikileaks and alike, funding where it would not be possible etc.

Because whether you like it or not, the Silk Road and the other black market were the only real use case that bitcoin ever had AS A CURRENCY.

The other proposed use cases are just excuses to pump and smokescreen because bitcoin doesn't really offer real advantages as a payment system over fiat money in any other domains.

You wait for DarkWallet final release and voilà: you got the only real use as a currency for bitcoin.
You might not like or agree with these use cases (I don't agree with all that either, but can't do much about it), but that's what it is.
And bitcoin doesn't need a high marketcap to fulfill these purposes.

Some of you points are valid, but this statement is where you completely went off the reservation.

If you can't see that a cryptocurrency NEEDS to become more valuable and more popular over time against fiat currency to be useful and a better form of money, then you missed the entire point of its existence.  And price does not matter when it is divisible to 8 decimal places, so it can never be "overpriced".

Gold would be absolutely worthless to the general world populous at $0.0001/ounce.  Get it?

Don't bother man, people here won't listen to anything that goes against their "to the moon" delusions when prices are going up short term.


They will just shut down their brain and the only things they see is dollar signs (pay attention, dollar signs, not the BTC symbol  ) rolling in.

They would have ignored any long term bearish argument (and some of them probably did) during the bulltraps you posted too.



My take on BTC is that for over a year it has stopped being "investment material" and has simply become "(margin) trading material".
The volatility is pretty big and the liquidity is good enough (you can still move millions around, to anyone saying that it's "thin"... "thin" compared to what?). Sure penny stocks are volatile too but there is no such liquidity that makes it worth it.

Traders can make very nice trades with bitcoin. That being said, it't not "investment material" anymore. The times of 10X-50X-100X or more ROI on your whole investment are long gone, there simply doesn't seem to be the demand required for the moon scenario the permabulls still dream about while remembering the good ol' days when bitcoin "had potential" and was in its novelty-early phase when such returns were a possibility (and that's one of the reasons I bought it at the time)

Considering current fundamentals, anything more than $10 billion marketcap (BTC around $1000) is probably an unsustainable ceiling and for all we know, if it wasn't for willy and markus mtgox bots and china we wouldn't even have reached those levels in the first place.

People pointing out that the 2011 mtgox chart looks just like a bubble bursting but the price went into bubbles after that as a reason to say "you see? we have already been there, history will just repeat itself!" are just failed attempts at being clever.

I mean I posted the 2011-2014 chart comparison few months back too ( https://bitcointalksearch.org/topic/this-btc-bear-market-is-very-similar-to-the-2011-btc-bear-market-866686), but just for the sake of TA and to look out for similar or different turn of events, never used it as an argument that BTC is bound to go in bear market-bubble cycles until it reaches 1 quadrillion...
That is just silly.

Prices in 2011 were more than 100 times less what they are now, liquidity was ridiculously lower and the whole landscape was completely different.

I'm not sure the world needs a bitcoin or a cryptocurrency, and if it does, it doesn't need an overpriced and overhyped one.
Sure with the blockchain or similar tech you can do plenty of fancy stuff, but such an outdated (at least today) and limited technology will certainly be replaced by something a lot better (that either exists today or will exist eventually).


Take bitcoin for what it is, "trading material" and not "investment material" anymore.

Personally I'm kinda getting tired of all the cultists around, and aside from some pure traders or posters here like Stolfi who are actually trying to be objective of what they have in front of their eyes and post actual insightful stuff, a lot of the rest is just "to the moon" delusional blind greedy kids I just can't read anymore...

I think this analysis would hold only if Bitcoin were to be utilized for its transactional properties exclusively. Yet there is undeniable demand for just holding coins, instead of just spending them, Bitcoin being free of middlemen and all that.

A fully regulated US exchange is positive.

yet another exchange, bullish...let me buy more bitcoins.

Delusional bulls be like "fully regulated US exchange wooo!"

funniest post ever.

Nahh, this time it really is different. I mean, how much lower is the price supposed to go in your opinion? It's almost impossible to go much lower from here. People will always be ready to pay $100 for a single coin, man.

Cool story mimimimitech.

Bitcoin is objectively going to survive, the blockchain has 100% chances os being here in 10 years, now Bitcoin, I (and Andreas agrees) has 90% to be the currency that survives, with a 10% of another currency taking over.

So it's all a game of guessing when the uptrend happens. Of course there are morons that say "its crashing its crashing" and eventually are right, same for the opposite. All these "its crashing" guys will be gone once the uptrend sets. When another crash happens, they will come back as the wizards of the market that predicted it.

It can't go on forever, can it? At some point there will be a true trend-reversal, and it's merely a question of recognizing that reversal. I admit it's a very difficult thing, but one of those times you're wrong by calling it a mere bull-trap!

No, it's based on paranoid delusions.  Not being bulltarded gets one labeled a troll, a sock, a gubermint infiltrator, or worse...

None of this, of course, is ever true.   Earthling.



  ~Your Beneficent Reptilian Overlords

This +1 . Most of us just shrug now which ever way it goes now. We know BTC is not going anywhere. People who keep saying BTC is dead might as well get that into the thick skulls.

OK... you can always put me on ignore if you think that I am an "arrogant troll".

It's probably based on the belief most old-members are usually a bit more humble with price fluctuations and not much involved in the bear vs bull aggressive trolling and name-calling.