Topic: I believe the price has nowhere to go but down and here's why I think so. - page 4. (Read 4869 times)

Thank you, sir!

Also, here go LTC supporters with their “Look! LTC has more coins! How cool is that!”

You again... You do KNOW you're wrong or that your points are irrelevant, right? Just in it for the argument? If so, that's cool. We should all be able to defend our points in detail and you do help people with that.

BUT - I feel like I shouldn't have to say the following:
What someone paid for an asset previously doesn't matter. Do you begrudge early Google employees who were issued stock when the company's valuation was in the low millions? Now that Google is 20,000x bigger, does the fact that someone, at some point in the past, paid a tiny fraction of current valuation impact the value that the buyer/holder is getting currently in any way? No. This is basic stuff and you know it.

Actually its more like why pay 100 Dollars for something that someone payed 1 Cent for three years ago?

Or worse why pay someone 100 Dollars for something that they bought for 1 Cent three years ago?
Of course that does only makes sense if you think there is someone who will pay you 10,000 Dollars in another three years.

Don't you be part of the problem.

This is what a car-crash looks like when it's on the scale of an economy and political system the size of the US, it takes years, precipitates as various unforeseen crises. And what always results in the final crash is when the leadership in charge at the time of the crash seeks to alleviate a problem with a fix that either makes the problem worse (ie: the don't understand what caused the problem in the first place) or makes one of the other existing problems worse, resulting in systemic crisis and ultimately crash.

You look at someone like Bernanke and he's at least partially aware of the game. Even still he's inflating to all hell under political pressure and due to his Keynesian beliefs, without realizing that it is fiscal pumping that creates the very bubbles he's trying to avoid the down-sides of.

There is no avoiding the down-sides, only pushing them out further in time until they are unavoidable. The market is addicted to easy money, and when that policy ends, as it must, things will get very, very ugly.

QE cannot become the new normal, as some are saying it will be. QE99? It's a dream, peeps.

It's NOT worth more than the dollar. Total value of all dollars is many orders of magnitude greater than total value of all bitcoins (hopefully we'll close the gap).

People need to get it through their heads that "1 Bitcoin" is just an arbitrary grouping of 100,000,000 satoshis, or said another way, a name for the arbitrarily selected 0.000004762% of all bitcoin-money that will exist. If it'd been selected that the phrase "1 bitcoin" meant 100,000 satoshis in the initial codebase, then one dollar would buy 9 "full bitcoins" right now, but the total value of all bitcoins would be the same. It's JUST a naming convention.

By the same token that your weak-minded friend was impressed that "a bitcoin" is "worth more than the dollar", we have idiots on CNBC saying things like "it's crazy that people are actually willing to pay $100 for just one of these bitcoin things". WTF!! Why can't people understand divisibility and percentages?

Don't be part of the problem!

Absolutely delusional.  Please...exit all blogs, back away from the computer and go outside and get some sun.  

I can only assume you haven't been paying attention We are in the death-throes / birth-pangs now. Look at Europe. Look at the '08 crash. Crises will begin to hit with increasing frequency until what stability remains fails. The dollar losing reserve currency status will happen at one point and be the likely coup de grace, and China will probably engineer it.

When the dollar crashes you know what will happen? People will flee into hard assets, just like the people in  Argentina are doing now.

And one of the most desirable hard assets at that point will be bitcoin.

Ever bought a house for one or a few bitcoin? There's a good chance you'll be able to do so within your lifetime if the US face fiscal crisis of dollar-crashing magnitude.

and we're purportedly the country with the greatest number of Bitcoin users, and I think Finland is by capita

There was actually a survey a month or so ago. I think it was on Wired.... Do a search. The conclusion was that the majority do not know about Bitcoin. And that's just in the US.

Can happen.  They can't all have one at once, but every American could purchase one bitcoin.  Money can circulate.

Ok, that was funny. Still snickering to myself.

Silicon Valley is probably a little more technical than some places.

Here is Southern California, which is pretty high-tech compared to many places in the world I would think, there is NO press in the papers, and NO ONE talks about it at all.  Thankfully my husband is an avid reader of Slashdot or we would still be in the dark about it.  None of my friends or family had ever heard of Bitcoin until I told them about it and none of them are that interested in buying any yet. They think it is "too risky."  Oh well.  If it does take off I will just have to hold my tongue.  Perhaps it would be wrong to say, "Well I told you to buy when it was $99."  That might be painful if and when the price goes up to $1000 or more!

YES.  This is true. Everyone in America Can't have one BTC, hence why the price has nowhere to go but UP.    (of course there may be bumps in the road on the journey upwards.)

Translation: "I discovered Bitcoin when it was at $266 and desperately want it back down at $2.66 so I can fill my boots with them, and then miraculously it must go back to $266 without further delay."

i hope people finally give up their false hopes and the final capitulation happens so that we can move on. i can't take the permabulls anymore.

Can't and won't happen   300M > 21M

I didn't even think while I was writing it, either.

+1 haha me and my friend was having this discussion the other day...if BTC was mainstream or not. i said ok at the next big gathering we will ask. so me and him are at this party... i hate talking in front of large groups but i was drinking liquid courage so it was ok...I said "Ladies and gentlemen, can I please have your attention? I've just been handed an urgent and horrifying news story. I need all of you to stop what you're doing and listen. cannonba".... no wait i said "hi by a show of hands can i see who has herd of bitcoins?" or "BTC? for short?" or "altcoins" or "cybermoney" anybody? only my girl and his girl and him raised there hands....everyone else about 45 people were like what? what are you talking about? I said its money. they are like huh like what country? I told them no country but every country. its the currency of the future.

these people were not old farts they were not young tweens me and my friends are 25-33 the prime age for bitcoins. some own homes some are married. some own businesses and are quite successful. when i told them about it they were very impressed with how it was worth more than the dollar. one guy said ya when its more then the value of the USD then ill listen i told him it was worth about a hundred usd. hahaha. and once it was worth 2.50 when i bout them. and how i was buying them at 230. (yes i got lucky and not so lucky)

if your point is that they are on the downtrend do to saturation in the market your are a fool! if everyone in America purchased one bitcoin we would all be rich rich rich. that is why i think the Chinese government did not hush up that news report about bitcoins. if there people bout in low (now) and in a year or five when they do take off they will have gained some very rich people in there country due to others making them rich. ie the Americans because we did not buy in when they were so much lower. but that is another story.  

Lol, did you think before you wrote all that