Is there any hope for bitcoin? Possible solutions? - page 2.

erre

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Quote from: NotLambchop on November 01, 2014, 04:49:32 PM

As a currency, it's a solution to a problem which doesn't exist (or rather exists in the mind of a few paranoiac libers).

It is a downgrade from current money,
with absurd confirm times and cludgy solutions to avoid them,
more complicated to use,
riskier for buyers vs. credit card and other payment processors,
rife with scam and fraud, without an issuing body to offer recourse/protection/body of law/enforcement of said law,
etc., etc.

Why should anyone be interested? Sure, once it was a way to avoid taxation, launder money, and buy/sell dope. Unfortunately, the loopholes it once availed are vanishing, making it far less attractive to those on the fringes of law.

Bitcoin is fascinating, it was a marvel in its day, I will forever be grateful to it for the education and the $$, but I'm afraid it's getting late.
Blockchain technology in different forms may take off, but that's a different topic.

Nobody knows what bicoin could become in the future... development is still in progress. Sure it needs to be tweaked, but the idea is great.

NotLambchop

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Quote from: erre on November 01, 2014, 04:25:09 PM

Quote from: NotLambchop on November 01, 2014, 04:15:33 PM

Quote from: erre on November 01, 2014, 01:17:51 PM

...
Right now, people is panic selling just because they ~~don't~~ didn't understand what they were buying

FTFY.

They have "invested" in a currency which is inflating @ 10%/yr, while losing more than half of its price during 2014. Most people invest to make money, not lose it Undecided

Me too got involved in btc to get " easy" money, I buyed @ 1000 and i'm taking a (relatively) huge loss as now.

But later i understood that btc should be not about making " easy" fiat: it's a p2p distributed currency, not a commodity. Give time to the people to understand the implications of such technology...

As a currency, it's a solution to a problem which doesn't exist (or rather exists in the mind of a few paranoiac libers).

It is a downgrade from current money,
with absurd confirm times and cludgy solutions to avoid them,
more complicated to use,
riskier for buyers vs. credit card and other payment processors,
rife with scam and fraud, without an issuing body to offer recourse/protection/body of law/enforcement of said law,
etc., etc.

Why should anyone be interested? Sure, once it was a way to avoid taxation, launder money, and buy/sell dope. Unfortunately, the loopholes it once availed are vanishing, making it far less attractive to those on the fringes of law.

Bitcoin is fascinating, it was a marvel in its day, I will forever be grateful to it for the education and the $$, but I'm afraid it's getting late.
Blockchain technology in different forms may take off, but that's a different topic.

jsmit332

hero member

Activity: 792

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Quote from: erre on November 01, 2014, 04:25:09 PM

Quote from: NotLambchop on November 01, 2014, 04:15:33 PM

Quote from: erre on November 01, 2014, 01:17:51 PM

...
Right now, people is panic selling just because they ~~don't~~ didn't understand what they were buying

FTFY.

They have "invested" in a currency which is inflating @ 10%/yr, while losing more than half of its price during 2014. Most people invest to make money, not lose it Undecided

Me too got involved in btc to get " easy" money, I buyed @ 1000 and i'm taking a (relatively) huge loss as now.

But later i understood that btc should be not about making " easy" fiat: it's a p2p distributed currency, not a commodity. Give time to the people to understand the implications of such technology...

Look on the bright side... at least you didn't buy at $1200

erre

legendary

Activity: 1666

Merit: 1205

Quote from: NotLambchop on November 01, 2014, 04:15:33 PM

Quote from: erre on November 01, 2014, 01:17:51 PM

...
Right now, people is panic selling just because they ~~don't~~ didn't understand what they were buying

FTFY.

They have "invested" in a currency which is inflating @ 10%/yr, while losing more than half of its price during 2014. Most people invest to make money, not lose it Undecided

Me too got involved in btc to get " easy" money, I buyed @ 1000 and i'm taking a (relatively) huge loss as now.

But later i understood that btc should be not about making " easy" fiat: it's a p2p distributed currency, not a commodity. Give time to the people to understand the implications of such technology...

johnyj

legendary

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Beyond Imagination

No hope if you think fiat currency is money Wink

NotLambchop

sr. member

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Quote from: erre on November 01, 2014, 01:17:51 PM

...
Right now, people is panic selling just because they ~~don't~~ didn't understand what they were buying

FTFY.

They have "invested" in a currency which is inflating @ 10%/yr, while losing more than half of its price during 2014. Most people invest to make money, not lose it Undecided

erre

legendary

Activity: 1666

Merit: 1205

Quote from: NotLambchop on November 01, 2014, 01:11:00 PM

Quote from: erre on November 01, 2014, 01:08:48 PM

Bitcoin is absolute innovation.

I think we are here:

While the rest of the world is here:

Yep, exactly!
The world is full of non-innovative, price-inflated, user-friendly, already end-developed shit.
Bitcoin has just started non as a brand or as a product, but as a technology!
It's nowdays too hard to use and to understand for the average Joe, but I can see lot of potential!
Right now, people is panic selling just because they don't understand what they were buying

NotLambchop

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Activity: 378

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Quote from: erre on November 01, 2014, 01:08:48 PM

Bitcoin is absolute innovation.

I think we are here:

While the rest of the world is here:

erre

legendary

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Bitcoin is absolute innovation.

I think we are here:

finlon

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There is always hope for bitcoin. You don't have to consider it purely as a currency, but a technology. However people have an understanding of bitcoin as a currency. When the iphone came out, the price doesn't keep going up Wink

But its a new technology and has its uses and just like an iphone, bitcoin is also a new technology.

jsmit332

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Quote from: NotLambchop on November 01, 2014, 07:31:08 AM

Quote from: cbeast on November 01, 2014, 06:41:33 AM

Bitcoin lost its mojo. I blame the Manipulator. Obama.

I agree that governments spreading FUD has wrecked bitcoin. Bitcoin was a massive threat to governments back in the day lol.

NotLambchop

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Quote from: cbeast on November 01, 2014, 06:41:33 AM

Bitcoin lost its mojo. I blame the Manipulator. Obama.

Ryota

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Quote from: Wilhelm on October 31, 2014, 05:43:56 PM

OP why don't you start thinking for yourself. What is Bitcoin worth to you?

In my opinion Bitcoin is like mobile phones. It will take some years to develop the infrastructure and get people to use it.

We are here

And the potential is

It's a bad example.

Nokia 3310 is the best mobile phone ever.

- Charge it once a month even if you use it everyday.
- It will never break even if it falls from the heavens.
- One of the cheapest phones ever.
...

New technologies are often accompanied with new problems and difficulties as history has proven many times.

cbeast

donator

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Let's talk governance, lipstick, and pigs.

Bitcoin lost its mojo. I blame the Manipulator. Obama.

Malin Keshar

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Quote from: ravenjt on November 01, 2014, 05:44:54 AM

Bitcoin seems to have lost its best feature - the pumpin and the dumpin.
Back in April 2013 it went from 60 to 240 then to 85. What a ride! Now its so boring, just declining a few percent each week. Yawn.

Bitcoin only lost the pumpin

The dumpin is around here for 10 months Sad

jsmit332

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Quote from: ravenjt on November 01, 2014, 05:44:54 AM

Bitcoin seems to have lost its best feature - the pumpin and the dumpin.
Back in April 2013 it went from 60 to 240 then to 85. What a ride! Now its so boring, just declining a few percent each week. Yawn.

It would be better if it went up and down, but not too much

ravenjt

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Bitcoin seems to have lost its best feature - the pumpin and the dumpin.
Back in April 2013 it went from 60 to 240 then to 85. What a ride! Now its so boring, just declining a few percent each week. Yawn.

jsmit332

hero member

Activity: 792

Merit: 1001

Video editing • Animated GIFs • Graphic Design

Quote from: inca on November 01, 2014, 05:35:45 AM

Quote from: exocytosis on October 31, 2014, 07:25:33 PM

Quote from: jsmit332 on October 31, 2014, 03:01:21 PM

Does anyone think the price of bitcoin will ever go back up to a respectable price?

Currently, Bitcoin is ridiculously overvalued. A respectable price would be somewhere in the single digit range, and that's the price Bitcoin is going back to. It'll be a slow and painful decline with a lot of bulltraps along the way. It might take months or years to get there, but we'll get there eventually. Together.

You sound so sure.

I have reviewed your posts since you joined during the last bubble. It seems you didn't always think so and earlier in the year you were predicting 10k and even 100k (you sure like extremes).

Then you got very excited about gox and either lost your money or sold at huge loss.

Since you have stated previously a) you don't trade or short and b) you don't own coins your presence on the forum in any capacity than a doomer troll is difficult to justify, especially when it is obvious you simply want to buy in lower and deep down love bitcoin!

10K bitcoin Shocked

a 1K bitcoin again sounds like a dream at the moment lol

inca

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Quote from: exocytosis on October 31, 2014, 07:25:33 PM

Quote from: jsmit332 on October 31, 2014, 03:01:21 PM

Does anyone think the price of bitcoin will ever go back up to a respectable price?

Currently, Bitcoin is ridiculously overvalued. A respectable price would be somewhere in the single digit range, and that's the price Bitcoin is going back to. It'll be a slow and painful decline with a lot of bulltraps along the way. It might take months or years to get there, but we'll get there eventually. Together.

You sound so sure.

I have reviewed your posts since you joined during the last bubble. It seems you didn't always think so and earlier in the year you were predicting 10k and even 100k (you sure like extremes).

Then you got very excited about gox and either lost your money or sold at huge loss.

Since you have stated previously a) you don't trade or short and b) you don't own coins your presence on the forum in any capacity than a doomer troll is difficult to justify, especially when it is obvious you simply want to buy in lower and deep down love bitcoin!

Searing

copper member

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Clueless!

my current guess is the china bubble started last oct 2013 at around 150 usd ...imho it will bust to the mean to 150 usd again

that is my 'guess' at the bottom

now my hope is that will look like a deal...people will then again bet on bitcoin to 'not miss the boat' and another boom cycle

will happen

but seems to be either that (see the chart below)

again i'm figuring the 'mean' to be around 150 usd (or it was around there end of last oct more or less before the 'china boom')

not too crazy about the above chart

the alternative imho would be the next pic below

well I'm holding gonna be happy 10 years from now or will have the same shame as being in an amway cult back in the day

looks like very little middle ground...btc either works or crashes to the cellar

Topic: Is there any hope for bitcoin? Possible solutions? - page 2. (Read 4748 times)