Topic: If you are waiting for the "despair phase" to buy like in 2011 consider this (Read 10298 times)

difference is BTC is a innovation, and tulips are just another flower that will be around forever

Bitcoin can be infinitely multiplied, see: hardfork.  If the 7TPS limit could be fixed by forking Bitcoin, so could the 21 mil coin limit.

Bitcoin is flawed at the very basic conceptual level--its security hinges on an [unreasonable] assumption that the interests of the miners are identical to the interests of the hodlers.
At the time of CPU mining, it may have been so, but with today's ASIC megamines it no longer holds.

Imagine being an owner of such a mining farm, having huge hangars full of [soon to be unprofitable to run] gear.  Bigger block rewards would clearly be more profitable for you, regardless of the fact that selfsame rewards would debase BTC in the long run

WHAT.?

And I just sold all of my bitcoins for tulips. .. 

the difference between tulips and bitcoin is, tulips can be infinitely multiplied, bitcoins can't.

Sorry to hear that. I try not to post the same message every hour, I try to post arguments that are usually decently variegated.
For example now with the dotcom analogy, on the other thread regarding longs and shorts on bitfinex, and on another of my threads talking about bid and ask sums on all exchanges over time, etc.
I try not to be boring  

Good job Nothatinjusttrollin, you just pulled off the impossible: you managed to get on my ignore list. I've been here for a long time already, and so far only 3 people or so ever made it to my ignore list, which means you have to do your very best to make it actually happen. Constantly repeating the same message ad nauseum serves no purpose at all.

Yes Nothatin, the price will go down MUCH further, but no one needs that exact same message every hour.

NASDAQ composite  ≠ dotcom bubble

You shouldn't post a chart of the NASDAQ composite, you should post a chart of World.com or Pets.com.

I little bump for my bull friends.



Waiting for the "despair phase" to buy and trying to buy at the "capitulation bottom" expecting a new rally was maybe potentially profitable when price was at $2, or when it was at $50. On the other hand trying to do the same now at $150 after having reached $1200, a ridiculous pump&dump and an unsustainable level that requires enormous amounts of money pouring in exchanges every day, might not be that smart

$1000 is 3.3 btc
who wants to wait 30 years to retire  wealthy ?

buy a few more ,no ?

Exactly! There is some risk Bitcoin will not succeed but Bitcoin has everything to succeed so it should.

Wrong. Who compares the Tulip mania with Bitcoin have no idea what they are talking about.

When you talk about tulips, you could plant them anywhere and as much as you want, therefore you would have an unlimited amount of supply.

So when the price went up, the farmers and who ever was in the industry started making crops of tulips like if there was no tomorrow.

The result was that the market was flooded with tulips and therefore the price collapsed to 0.

Now, when you look at Bitcoin, it is not like that.

First you cannot "Plant" as many coins as you want, second the mining reward halves every 4 years, which makes it more and more scarce every 4 years.

Thats the beauty of Bitcoin, its supply is mathematically controlled, there is no way to escape it.

If you are now in your mid 20s and you want a good retirement in 30 years, just buy now $1000 worth of Bitcoins, thats all you need.

Sit back, relax, and watch history being made.

Thanks Satoshi.

oh yeah it should also be noted that there has been an enormous amount of FUD being spread in the real world having NOTHING to do with bitcoin with one exception, it has caused a lot of panic buying of various things (guns before gun bans, meds and supplies before an expected outbreak, remember the ebola scare?) gas stocking up or fear of it going back up so people holding money they did not have to spend when it went down in price, so they could be ready for it to skyrocket back up again, so this has seriously been draining the investment capitol to crypto and other investments draining the money inflow from investors, and only having money coming in from utilizing entities, whom are going to actually use the bitcoin and other alts they buy, at some point all the FUD should end for a while and the market will spring back to life everywhere not just bitcoin or gold and stocks.

there are two things I see here, in the last year, one is we are on the backside of a 4 year bubble and all the "bubble prices" we saw before were just bumps in the road, and when this bubble ends, a new one will begin, mainly because the device in question has usefulness just like others have mentioned with the internet. we will see another dotcom bubble and another housing bubble, as well as another damn government fund bubble (quantitative easing) after these all have crashed and recovered, everything goes in cycles, the question is when it is falling and good to buy now, how long can you as an investor hold out. if you can do it for quite a while, then you stand to make a fortune, but if  you have to get that investment back in 3 months or 6 months, then I have bad news for you lol.

the one thing missing from bitcoin right now (and all other cryptos) is a solid exit strategy from crypto to real world product, with out having to go through fiat, and since very few exits to fiat (your bank account) exist other than the most popular ones like litecoin and bitcoin, you are going to see all the others value's tied to the ones with the exit strategy, we need one for materials and goods as well as labor produced goods and energy. do not forget an exit to energy. everything from cars to machine shops and manufacturing plants require energy and it effects their production directly, (ie pull the plug and everything comes screeching to a halt)

so I see (and am involved in some serious) production being developed that will mount on crypto's solidly. meaning it will be far more expensive to buy product from them with fiat than it will be to buy with scrap materials used for the production, or crypto instead.

zeroday +1, you really explained the fundamental stuff to these non-brainers.

Yes, we are talking about ridiculously small number of people comparing to the world's population. The same as it was in early 1990s when ridiculously small group of people started using Internet (I was one of them, by the way)

Minority, but not marginalised. I'd say it's progressive and promising minority, similar to those who was curious about computers in 1970s.
You know, if bitcoin was used by majority, its price would be far more that $100k/BTC  

bitcoin market cap is so small that extreme volatility and bubble cycles are natural for it. It's still in early stage of adoption, like The Internet in 1993.

Average Joe doesn't use many progressive technologies and hardly can create a simple text file on the computer. It may take years before bitcoin becomes widely accepted by majority, but now I see real progress with that.

About collapsing price. Nobody knows if we already found the bottom of the last bubble, but it's not going to zero. Bitcoin is still promising technology and now it's developing really well (not the price).

Tulips are crap, Bitcoin is (r)evolution of money. You don't see the difference?

Yet the charts look the same

Problem?

You really gotta be colosally stupid to compare tulips and Bitcoin. Nothing else to add to discussion.

Do I remember you from the Neo & Bee thread?  Did you "invest" in that Cypriot Bitcoin Bank thing?  How's that golden boy Danny Brewster doing, all good?



pwnt