Topic: does anyone remember... (Read 1998 times)

Bitcoins are not a ponzi system but are used by many ponzis or scam websites. If we check, majority of bitcoin users are seen gambling their money to increase their earnings and since bitcoins can be easily used to play on such websites, it is being abused. PayPal on the other hand is careful with regards to money laundering and since they have some security measures unlike bitcoins, it is valued more.

I did not even know it because I knew about bitcoin in the beginning of 2015, but I know the story about it. Would be awesome if I knew it earlier and if I could spend some bucks in 2009.

yeah I remember, but not exactly from the very beginning, I only remember it from the top of the rise. it was such interesting days.

although as I said I unfortunately didn't know about bitcoin before the rise but on top bitcoin was rising and everybody was so excited and they were all talking about bitcoin price should go to $10,000 and I still remember an article on coindesk a while after this saying bitcoin is headed towards 10K$ and all I have seen up until last year was the price going down and then since last year it has been rising again and I feel like another time history is going to repeat itself.

Everyday there are people that'll call everything a scam.

I can`t remember,i don`t have such a memory.

I remember a guy, back in 2013, that lost 1M USD worth of bitcoins in his PC wallet,when his PC went to

trash  ....

Every day there are people that call bitcoin a scam....

Yes I remember. The news was news discrediting Bitcoin. Yes in principle and now it is to be found. I attribute this to the technical literacy of people.
Just think back nuclear energy as it starts to develop. The people were not ready for it, he was afraid, and rejected the matter of it, but over time, people have become literate and took it.

one of the best things about bitcoin (or anything that is being traded for that matter) is that we all can see the history by just opening a price chart and checking the history.

and it is full of good information too. we can all learn a good lesson here by seeing the price movement and by checking the history of why it went up and why people were calling it ponzi

i don't remember it because sadly i didn't even know about bitcoin back then and i found out about bitcoin on the rise and i didn't even start using/buying it back then. i sadly started using bitcoin after the rise and death of solo home mining.
and i have to say calling bitcoin ponzi, and scam is not yet over and the enemies and those who want to push the price down for their temporary gain are still doing it by calling it scam and illegal coin.

At 2009 bitcoin price is $0.3/BTC some later on 2011 the price is gone to $1200 its amazing progress for bitcoin. we never thought the bitcoin price is gone exceed we expectation.

I remember these times. These were great, crazy times. I sometimes miss these times as I sense that Bitcoin is getting more and more serious. The early times had a unique atmosphere of anarchy and craziness, where Bitcoin still felt somehow unreal as a true currency. This emotional detachment from the monetary character of Bitcoin led to a lot of experimentation and great risk taking which in turn fed a seemingly never-ending drama machine. As a bystander this was really exciting and entertaining...

However I think it's a bit premature to call people who bought at $1200 "greater fools". After Bitcoin surpasses $1200 those people will also look good compared to all those who haven't bought any Bitcoin until then. Maybe the greater fools are those that left their coins at Mt.Gox.

ya.ya.yo!

That wasn't the biggest BTC bubble, just the most popular one with WOW numbers. As my post above says earlier that year it was trading in the double digits. Also the "Priced-in" scenario has pretty much been broken already, Hype has taken over and hording is happening again. I urge you to reconsider. Im fairly certain we are about to witness a "Self-fulfilling Prophecy" regardless of common sense.

I was not involved in Bitcoin when the price quickly increased 5x from $250 to $1250, but it was clear bubble and you could mine Bitcoin paying only small fraction of the $1250 instead.

So if history repeat again and the Bitcoin price skyrockets so much even home miner with not cheap electricity can mine the Bitcoin with only fraction of Bitcoin market price instead, then its definitively time to mine and sell as much as you can.

But I dont expect this to happen, I believe the comming halving is already priced in current Bitcoin price.

Just saying *Altcoin X,Y,Z* could surprise you as well,lol you think 2013 would have taught this community not to underestimate ANYTHING.

My point is only that Bitcoin maximalist like to exclude all the mistakes from the past and emphasize the success's, while turning around and discouraging altcoin growth. I love BTC, but i truly wish people would stfu about the altcoin scene, BTC can't do everything, it's not perfect, so if ethereum, or lisk, or waves, or maid wanna come in and pick up some slack, it's fine by me, it'll just bring more coverage to the "crypto-sphere". thanks for all the responses!

Oh btw i believe this was the issue i was referring to as needing a system restore.(sorry memory was a really fuzzy) double spending a ton of BTC "The fork of March 2013

On 12 March 2013, a bitcoin miner running version 0.8.0 of the bitcoin software created a large block that was considered invalid in version 0.7 (due to an undiscovered inconsistency between the two versions). This created a split or "fork" in the block chain since computers with the recent version of the software accepted the invalid block and continued to build on the diverging chain, whereas older versions of the software rejected it and continued extending the block chain without the offending block. This split resulted in two separate transaction logs being formed without clear consensus, which allowed for the same funds to be spent differently on each chain. In response, the Mt. Gox exchange temporarily halted bitcoin deposits.[99] The exchange rate fell 23% to $37 on the Mt. Gox exchange but rose most of the way back to its prior level of $48.[30][31]

Miners resolved the split by downgrading to version 0.7, putting them back on track with the canonical blockchain. User funds largely remained unaffected and were available when network consensus was restored.[100] The network reached consensus and continued to operate as normal a few hours after the split.[101]"

Mate a lot of Bitcoin millionaires were made during that $1250 price spike I remember that period like it was yesterday because I wasn't brave enough to hold it until the bubble burst and sold prematurely. Do you really think people bought coins at $1250 because I think everyone and their dogs were selling like crazy and were making that mad cash overnight lol. Anyways Bitcoin has been called many names but at the end of the day all that matters is how much we can trade it in for cash right? I believe there will be people left holding the bag again after the halving pump starts who won't sell their stash on time and will miss big profit margins. The shit show is about to begin soon buckle up guys  

Who would forget bitcoin in its earlier times (2012-2013)? It was worth pennies for over a year or so. Many people believed it was only for geeks and enthusiasts. Then comes 2012 which became fruitful for miners and traders alike. Fast forward 2013, a roller coaster ride began. October 2013, people saw a massive increase in price compared to its prior year. Nov 2013, Willybot goes batshit crazy, rigging up prices up to $1200. Then comes stagnation, year 2014. Nothing exciting happened, but still more and more people believed in its potential of replacing existing payment schemes. Up until now, a few fudsters believe that this is only a large-scale ponzi scam. Who knows? If it's a ponzi, then why are major businesses accepting it on their own systems?

i had just know in those year bitcoin was called was a scam because i wasn't part of bitcoin on those year and i' pretty sure for those who call bitcoin scam will be regret what was already they says because currently bitcoin has change became the most popular cryptocurrency in the world

People still call btc a scam these days so theres nothing new there. and everyone knows the volatility of the btc price. the people hating on btc are usually the ones that want the price to drop.

In 2013, i even didn't have 0.01 bitcoin in my wallet as i was just in the beginner phase in learning about bitcoin. But it is reality that i was intrested in bitcoin after seeing 1000$ per coin which was lower than 100$ per coin quite few months ago. And i think even today lots of the people who are in newbie phase really like to grab some bitcoin before halving. 

There are a lot people that still got the impression that Bitcoin is a scam or ponzi. It's mostly the media that makes people think like this, and people still take everything that comes from the media for granted. It's sad.