Topic: Despite all the hacking attacks, FUD, negative articles etc. Bitcoin is - page 2. (Read 3721 times)

true, my apologies.

Neuroscientifically speaking, your subconscious will come up with a solution before your conscious one will finish thinking. You are probably correct in trusting your intuition. At the same time though, your subconscious is a reflection of the primal, core emotional being. It understands concepts in symbols. I don't know what your experience and history with Bitcoin is (are?) though, or investing in general. Some traders by trade that have entered Bitcoin see it markedly different than "investors" do. Sometimes they miss a few fundamental ideas such as the power of anti-fragility, they emphasize on speculation and not the philosophy. that's perfectly fine, we need that. investors tend to disregard short-term non-black swan events. You just have to know thyself.

or

• panic and fear overcome the market when bulls capitulate, waiting bears buy in, and you get your first point

they say bitcoin is a good investment because it has binary outcomes, yeah, but your second two points don't make sense to me. Panic and fear do not cause Bitcoin to "crash to death". A fundamental and irreparable point of failure will cause bitcoin to "crash to death". We don't have that. The bears that are waiting, and trust me, they're there on the sidelines and will be the source of the impetus up when the trend is confirmed to reverse, will prevent those last two scenarios. so dreary mat!!

Come on, I did start with a 'What If'.

But I will come clean, or perhaps I dont really need to come clean as I have alluded to it many times in the past; but I have this subconscious fear that pops up to haunt me every now and then that Bitcoin is going to get fucking hammered. Perhaps even killed. This more than anything else started me off on my shorting escapade, at least until I started getting the subconscious fear that I would never see my entire ball of 20K USD capital again. This fear seemed to be tied up with Bitfinex. I pulled my funds off Bitfinex a few days before that 10,000 USD Bitcoin hack attack. Since I have pulled my funds from Bitfinex, I no longer have the subconscious irrational fear of my capital disappearing down a black hole, but this has meant no more shorting for me, despite some glaring opportunities to capitalise in doing so (such as right now at $680). I still have 10K USD on Bitstamp and I still have these pangs of extreme Bitcoin fears that come out of no place, even though I have no Bitcoin position (I get them much worse and more vivid whenever I am long Bitcoin). The same ones that I have been having well in advance of all this DDOS and transaction protocol attack shit, which has only come to light in the past couple of days, with this BitcoinSteve character appearing out of knowhere on the eve of the mayhem, declaring pending mayhem and asking for tuppeny ha'penny Bitcoin donations in exchange for 'insider info' in the style of a wild west or even a modern day snake oil selling fear mongering doom porn guru (Lindsay Williams springs to mind)......only for events to transpire that make BitcoinSteve appear more like a prophet than the two-bit fear mongering conman, that I immediately took him to be.

I openly disclose the prevailing mental forces that have been driving my bearish stance since the eve of the December crashes. This will seem like nothing but superstition to most people and perhaps it is, but is superstition that has served me very well so far, both in terms of avoiding being a Bitcoin bag-hodler and getting me into the market on a speculative basis in the first place.

Bitcoin now seems to be entering a stage of high uncertainty, during a clear bear phase of the market. With this in mind, I am preparing myself to accept that perhaps my subconscious mind is smarter than my conscious mind. I am abandoning any attempts at deploying my TA 101 skills to turn a buck on Bitcoin, such as playing the rather obvious $380 support. I shall now be sitting right out on the sidelines either until Bitcoin proves it has overcome the recent technological uncertainties and most importantly, confirms that the bottom is in and the trend is reversing; or until some of my outrageously low buy-in levels have been triggered on Bitstamp due to everyone's worst fears coming to be realised, and Bitcoin finding itself standing at death's door.

The outcomes will be:

• I miss the bottom and some good volatile trading opportunities in between, but get in as trend reversal is confirmed (most likely)
• Panic and fear overcomes market and Bitcoin crashes to the point of death or novelty posterity significance, in which case I lose all my chips (entirely possible)
• Panic and fear overcomes market and Bitcoin crashes to the point of death, at which point big Wall St money swoops in and buys it up at pennies on the dollar, in which case I cash in big time...providing my buy-ins are allowed to be triggered by the corrupt system, and/or Bitstamp doesn't go the same way as many Bitcoin exchanges before it (stranger things will have happened)

you speak with such a definiteness mat  
you seem so sure [/socratic quip]

An Alt-currency is only as decentralised as it is evenly distributed, which in Bitcoin's case, is not at all, but perhaps the problem with Bitcoin in the eyes of the financial establishment is that too many 'wrong types' are owning it.

What if what is going on now cumulates in a massive crash in Bitcoin price, and Bitcoin is facing annihilation, causing much panic sending Bitcoin to double and even single digits. Would this be the point where Wall St climbs on board, or is this the point where Bitcoin is killed off for good, and replaced by another 'more secure' pre-mined and/or pre bought out 'decentralised' crypto of Wall Streets choosing.

The Big Boys always win. If they can't win with Bitcoin, they will win with whatever replaces it in pole position of the crypto-currency race, and that coin won't be called JPMorgan Coin, Zionistcoin, or 666coin.

I'm genuinely shocked by the sheer number of posters here who don't understand the one fundamental reason for bitcoin's success: decentralization. It's the whole goddamn point. Hence, there will be no applecoin, googlecoin, microsoftcoin, nintendocoin, etc. You might as well go to Disneyland and buy Mickey Mouse dollars.

QUICK someone create and launch GoogleCoin and AppleCoin alts using the  http://coingen.io/ That would piss these corporate fucks off.

You know what. In all seriousness, I am beginning to suspect that Bitcoin may have a serious impending death event penned into it's diary, which will either result in a price crash so bad, that only Wall St will be buying or indeed kill Bitcoin off altogether in favour of some other crypto that Wall St have bought up long ago.

Too much shady dodgy shit going on all at once. The MtGox thing, and now the suspension of withdrawals on the other and most importantly perhaps, on the only semi respectable Bitcoin exchange out there, (Bitstamp), and then their was the Bitfinex/BTC-e flash crash, which involved suspension of all MT4 buy-in trades meaning lots of people who should have won cheap coins, didn't. Despite the resident forum clowns claiming that the $100 flash crash proves how strong Bitcoin is, I would suggest that it rather more puts the wind up people/whales who might be sitting on a Bitcoin fortune, reminding them of how easily it might all turn to dust. I would suggest that the $100 flash crash is going to result in a lot more twitchy fingers during the next brutal price correction, which we all know is coming.

I will say again, I suspect that a near death or actual Bitcoin death event is coming, and that it is being coordinated by some group. Everything happening right now, reeks of fish, rats, and shit.

Many people in this community will care, and will be very vocal about any shortcomings.    We will value bitcoin more highly than corporatecoin.  Both can co-exist, and they will be traded according to how people value them.

Despite all the hacking attacks, FUD, negative articles etc., Bitcoin is anti-fragile.

    
Despite all the hacking attacks, FUD, negative articles etc. Bitcoin is Honey Badger.

some will.

First, there is no difference between government and large private corporations.  They are one and the same.  Second, you're just as exposed to risk by holding Bitcoins.  It is possible for google to fold.  It is also possible for Bitcoin to become compromised.  Who do you sue for damages?  As a store of value, they all stink.  As a payment mechanism, all people will be concerned about is ease of use and the ability to recover stolen funds.

No, people WILL care. People ALWAYS care about money. What if google goes out of business and all your googlecoins then just disappear? What if google is involved in an Enron style scandal? People trust private corporations even less than they do the government! I'd rather keep my money in US dollars than applecoin, googlecoin or microsoftcoin.

Absolutely no doubt about it.  They'll be smart about it, greasing the appropriate political skids and riding on the coattails of Bitcoin's success right into the forefront.  No, it won't be anonymous.  No, it won't be decentralized.  But guess what?  99% of people don't care, they just want something easier than credit cards, checks, wire transfers, etc.

THIS

I actually think it highly likely that an altcoin funded and backed by a major tech or financial corporation is in development. (A googlecoin or applecoin  fif you will.)  Spreading FUD on bitcoin might be a good play for such.

Not that I think THOSE guys are necessarily working on one, but I think an organization which would have assets to guarantee a value of their coin would make for a popular coin for newbs and the like.  Oh and hey, it and only it are accepted at their online store too. . .

These hacker sobs are Killing bitcoin only to make  their own profit. I hate humans, they re mostly a piece of discusting shit controlled by their fucking egos. I hope they burn in hell.

Re: Despite all the hacking attacks, FUD, negative articles etc. Bitcoin is


DOOOMEEEDDD

I am not so easily impressed.  There really hasn't been that much FUD.  On the contrary, most of the coverage has been glowing.  Bitcoin is mentioned on a regular basis in the media, generally in the context of more businesses accepting it for payment.  The price simply hovered around $800 in the midst of this positive news.  And the "FUD" we've seen recently really hasn't been terrifying from a technical and economic standpoint, yet the market reacts violently.  You seem to think this is a positive sign.  I do not, it demonstrates a market dominated by speculator psychology which is already becoming jaded over positive news and still remains panicky over marginally bad news.

2014 supposed to be bitcoin's year of wall street.. yeah, the year they fund covert FUD and buy up cheap.