Is bitcoin dead? - page 109. | Bitcointalksearch.org

Bonam

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Quote from: specgamer on March 07, 2015, 02:07:40 PM

Simple answer: NO, or not yet
The year 2015 has been very rough for bitcoins. From a price of $314 per coin on New Year’s Day it slumped 43 per cent to a low of $177.
Mt. Gox, the world's largest bitcoin exchange, suddenly announced that hundreds of millions of dollars worth of bitcoins were stolen last month. This isn't the only one. But I believe in the future bitcoin and other cryptocurrency will still have a prominence and potential to "rebound" back into the economy.

Really? Gox? Last month? That was like a year and a half ago, not last month, can't keep blaming stuff on Gox forever. Unfortunately, Mt. Gox was not the only scam... from my experience, the overwhelming majority of bitcoin-related businesses are scams, frauds, failures, etc. And, given that this is unlikely to change, it will continue to be a major problem with the bitcoin economy.

tss

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yes bitcoin is dead, a lot of mortuaries now willing to take care of it for you.

BillyBobZorton

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Quote from: dothebeats on March 07, 2015, 03:10:01 PM

Quote from: Bardman on March 07, 2015, 11:28:06 AM

One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

Remember when the price of bitcoin is at $1? No? Mining wouldn't be profitable, but the network may live on because it still has value and it can still thrive.

Mining is always profitable if the miner has a long term view on it, of course the main problem is paying the monthly electricity bills.

dothebeats

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Quote from: iamback on March 07, 2015, 02:44:35 PM

Quote from: Bardman on March 07, 2015, 02:12:28 PM

Quote from: iamback on March 07, 2015, 12:39:28 PM

Quote from: Bardman on March 07, 2015, 11:28:06 AM

One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

Go back to Bitcoin 101 class.

As miners exit, the difficulty drops, so one earns more coins with the same computing power. There is always an equilibrium point above 0 miners.

Even if miners earn more coins theoretically if pretty much all the miners stopped mining bitcoin would die

If would not die for the unprofitability of mining, which was your original logic, because the difficulty would drop until those miners felt it was profitable to continue mining (unless this demand price level fell below 1 Satoshi per BTC). It would only die if trust and usership fell below some critical level, where no one would bother receiving it because they didn't think they could (within a reasonable cost of time and effort) find someone to sell it. IMO the likelihood of that is nil, because there are some reasonably popular nefarious things that you can do with Bitcoin that you can not do any other way. Also the speculative demand will fall to more realistic appraisals of its future value, but that is not 0.

We are in the process of exhaling all the false speculative demand based on selling fanboys on the "its going to the moon, $1 million / BTC fantasies". We will find a solid bottom somewhere at or below $150, but not $10.

Moon fanboys will always exist, speculating lucrative (but possible) prices that are very far-fetched in the current time-frame. We can not blame them though, believing into their own idealism and logic that somehow it will go to the moon, but apparently there are no easy ways to reach the moon. Correction will always be there, and it's part of the roller coaster ride.

dothebeats

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Quote from: Bardman on March 07, 2015, 11:28:06 AM

One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

Remember when the price of bitcoin is at $1? No? Mining wouldn't be profitable, but the network may live on because it still has value and it can still thrive.

iamback

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Quote from: Bardman on March 07, 2015, 02:12:28 PM

Quote from: iamback on March 07, 2015, 12:39:28 PM

Quote from: Bardman on March 07, 2015, 11:28:06 AM

One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

Go back to Bitcoin 101 class.

As miners exit, the difficulty drops, so one earns more coins with the same computing power. There is always an equilibrium point above 0 miners.

Even if miners earn more coins theoretically if pretty much all the miners stopped mining bitcoin would die

If would not die for the unprofitability of mining, which was your original logic, because the difficulty would drop until those miners felt it was profitable to continue mining (unless this demand price level fell below 1 Satoshi per BTC). It would only die if trust and usership fell below some critical level, where no one would bother receiving it because they didn't think they could (within a reasonable cost of time and effort) find someone to sell it. IMO the likelihood of that is nil, because there are some reasonably popular nefarious things that you can do with Bitcoin that you can not do any other way. Also the speculative demand will fall to more realistic appraisals of its future value, but that is not 0.

We are in the process of exhaling all the false speculative demand based on selling fanboys on the "its going to the moon, $1 million / BTC fantasies". We will find a solid bottom somewhere at or below $150, but not $10.

Bardman

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Quote from: iamback on March 07, 2015, 12:39:28 PM

Quote from: Bardman on March 07, 2015, 11:28:06 AM

One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

Go back to Bitcoin 101 class.

As miners exit, the difficulty drops, so one earns more coins with the same computing power. There is always an equilibrium point above 0 miners.

Even if miners earn more coins theoretically if pretty much all the miners stopped mining bitcoin would die

kitarohotono

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Quote from: specgamer on March 07, 2015, 02:07:40 PM

Simple answer: NO, or not yet
The year 2015 has been very rough for bitcoins. From a price of $314 per coin on New Year’s Day it slumped 43 per cent to a low of $177.
Mt. Gox, the world's largest bitcoin exchange, suddenly announced that hundreds of millions of dollars worth of bitcoins were stolen last month. This isn't the only one. But I believe in the future bitcoin and other cryptocurrency will still have a prominence and potential to "rebound" back into the economy.

I believe gox trading soon back online and price going up again Cool

ndnh

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Q. Is bitcoin dead?

A. Am I dead?

specgamer

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I love bitcoins.

Simple answer: NO, or not yet
The year 2015 has been very rough for bitcoins. From a price of $314 per coin on New Year’s Day it slumped 43 per cent to a low of $177.
Mt. Gox, the world's largest bitcoin exchange, suddenly announced that hundreds of millions of dollars worth of bitcoins were stolen last month. This isn't the only one. But I believe in the future bitcoin and other cryptocurrency will still have a prominence and potential to "rebound" back into the economy.

specgamer

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I love bitcoins.

I think bitcoin will not die any time soon, because there are people like us who still believe in it.

Amph

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Quote from: Bardman on March 07, 2015, 11:28:06 AM

One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

than this mean that bitcoin was dead when "he" was born

no i think that even after the situation you described, bitcoin would be still alive, i do think that bitcoin can't actually die, but at worst be forgotten

Bralex

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Quote from: MAsterV on March 07, 2015, 10:59:59 AM

BITCOIN IS NOT DEAD ... it's just being born...

JUST GOING THROUGH THE TROUBLES...

This is close i would describe it as being a toddler just learning to walk and bumping into things banging it's head taking a fall and getting back up.

Soon he grows into a teenager i wonder what that has in stall lol

Either way not dying still has plenty of life in it more than most of us Shocked

iamback

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Quote from: Bardman on March 07, 2015, 11:28:06 AM

One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

Go back to Bitcoin 101 class.

As miners exit, the difficulty drops, so one earns more coins with the same computing power. There is always an equilibrium point above 0 miners.

Bardman

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One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

MAsterV

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★777Coin.com★ Fun BTC Casino!

BITCOIN IS NOT DEAD ... it's just being born...

JUST GOING THROUGH THE TROUBLES...

iamback

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Quote from: Agestorzrxx on March 07, 2015, 07:09:03 AM

Quote from: iamback on March 07, 2015, 02:55:07 AM

Quote from: Quartx on March 07, 2015, 02:45:51 AM

Exactly this, every single time bitcoin crashes it gets back up on its feet pretty quickly too

And from lower and lower lows...

The price is not getting stronger.

The realism is getting stronger, but we still have a lot of these illogical fanboys to destroy first.

You should choose a longer time scale.
Not the recent month.

My time scale started back when it as $1000 in late 2013 and it has been falling (lower lows) ever since exactly as I predicted.

Agestorzrxx

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Quote from: iamback on March 07, 2015, 02:55:07 AM

Quote from: Quartx on March 07, 2015, 02:45:51 AM

Exactly this, every single time bitcoin crashes it gets back up on its feet pretty quickly too

And from lower and lower lows...

The price is not getting stronger.

The realism is getting stronger, but we still have a lot of these illogical fanboys to destroy first.

You should choose a longer time scale.
Not the recent month.

Bardman

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The biggest problem with bitcoin right now is all the scams, in this forum for example 95% of ponzies are a direct scam, ponzi itself is a scam. A good amount of casinos are a scam aswell, altcoins pretty much the same, most of them are pump and dump some others are just shit. The exchanges getting hacked. All this doesnt encourage new people to accept bitcoins and its understandable

tee-rex

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Quote from: Bonam on March 05, 2015, 04:49:09 AM

Quote from: yui on March 05, 2015, 04:36:09 AM

Don't be too greedy and trying to manipulate the price OP

Meh, no interest in crap like that. The only bitcoins I ever got were a few back when you could mine profitably with GPUs, and a few more in exchange for services. Never bought any with real money and don't plan to. What I am interested in is if anyone serious still sees a future in bitcoin, and if so, what they're reasons might be. That's why I started this thread.

Even if bitcoin is dead by now (but how can it actually be dead if it is worth almost 300$ per coin?), the idea behind it is certainly not dead. I mean an idea of digital gold, something that can't be emitted according to the whimsy of a wicked government (read a group of interested persons).

Besides that, the dollar is on the rise, and it would be highly interesting to see it collapse.

Topic: Is bitcoin dead? - page 109. (Read 110801 times)