Topic: Losing faith - page 2. (Read 6749 times)

Actually the biggest faith in bitcoin lies in the fact that fiat money is a Ponzi scheme. As long as this scam continues and more and more people start to discover this scam, bitcoin will always find its ground: Maybe bitcoin is not very ideal, but fiat money is an unsustainable Ponzi scheme

I prefer to get my investment data opinions from the seediest corners of the intertubes, from Anon going by "KeyJockey" if at all possible

your name zeurpiet makes sense. lol. Nah, there are big times to come, but you were unlucky so far. Maybe trading isn't your thing.

Market manipulation and/or luck. Can't predict chaos.

Well of course "Past Performance Is No Guarantee Of Future Results", and if you actually READ what I wrote, you may notice that I said, multiple times, that "it may not happen" and "that's the risk we take" and etc.  But thanks for your kind concern for my financial wellbeing anyway I guess, LOL.

However, are you *seriously* advocating an investment ideology equivalent to buying stock of companies who's market share, customer base, sales total, etc... nevermind simply "stock price" -- are on long-term DOWN trends?

Given two stocks, one of which is going generally up and getting increased customers and the other of which is going generally downward and getting fewer customers, I'd say that, on average, the UP TREND one will always end up doing better than the DOWNTREND one.

"No Guarantee" of course but, again, in GENERAL, on AVERAGE.



LOL okay, so you also advocate taking all your investment data only from what the mainstream media tells you to believe?  Great, good luck with that.

I'd recommend, instead, actually looking at the investment, the company, the product, the MARKET DATA for yourself and then make your decisions based on your own intelligence and careful analysis of ALL data.... not just what the Tee Vee Talking Heads tell you is "truth".

But, anyway, yeah okay whatever man: if you don't like bitcoin any more... sell it.  Get out if you can't handle the long term volatility, or whatever.

The rest of us who can SEE what's really valuable and important will be happy to take your coins off your hands, no problem. 

Early adopters that didn't believe in Bitcoin sold at 10$ or 30$ and were wrong so they don't have many bitcoins to sell anymore

Everyone know arbitrage001 is a dummy.

See? That's the sound of your empty statement with absolutely no ties to reality collapsing under it's own stupidity.

Everyone know bitcoin is a bubble. Some cash out too earlier and regret their actions.

It is not too late to cash out if one is an early adopter.

He sound like a genius right now. I don't think it is a coincidence Satoshi left this community.

Amen.  That's why I'm saying that the most important fundamental of bitcoin is merchant adoption.
Without that, bitcoin is indeed just a Ponzi scheme. And with that, it cannot go wrong.

For the moment, merchant adoption is on the rise, but I don't think that the current merchant adoption can even carry the current market cap - except maybe merchant adoption in the black markets.

This is why we shouldn't expect any sustainable price rise soon in my opinion, and yet another bursting bubble will do bitcoin more harm than good. 

Price will rise when merchant adoption generalizes, and if it doesn't generalize, bitcoin is essentially dead.  But that will take time.

Totally agree.
It's strange to see people complaining every day about the rise and fall of BTC against $, which comes from speculation, while treating Bitcoin only as a speculative tool... Are you paying the same attention to the price of $ against € or £ or any other currency? Probably not, and the reason is that you don't care: you're just using your dollars every day, to buy stuff and live.

The most important thing about Bitcoin's future is not its value in fiat, it's its adoption. We should not be concerned about whether BTC will be worth $100 or $10,000. We should worry about the possibility that one day, 10,000,000 merchants worldwide accept Bitcoin, (instead of 100,000 now). When Bitcoin is accepted pretty much everywhere, nobody will care much about its value against USD.

... which would serve no purpose at all except making you somewhat poorer than you would have been without those coins.

Because what's the point in sitting on a stash of coins that are "worth a billion", on the condition that you never sell them ?  If you never spend them, the only thing you did was to have wasted some fiat you could have used to buy something you enjoyed (a holiday, a car, a new computer, a present for someone) into something you will never turn into something of any use.

Money is a store of value.... with the idea to cash in on that value one day.  Money doesn't serve any other purpose.

If bitcoin is to be money, it has to be spend on buying stuff that is actually useful to people.  Next week, next year, 10 years from now, it doesn't matter.  But it has to be spend buying stuff. 

To illustrate this, consider the following:

if you are really onto holding coins for ever, throw away your private keys !
Now, where will that bring you ? :-)

I like the 'bigger fools' theory.

So in essence, its still a way better bet than the lottery.

The USD rising wouldn't mean so much.  After all, that would have meant all other fiats falling at the same rate, which is not strongly the case.  Since this summer, the USD won less than 10% as compared to EUR for instance and that's maybe more the EUR falling than the USD rising.

My idea is that after the "black tulips" of last year,  the bubble has been deflating for more than a year and bitcoin is coming into another regime, more mature.   I don't think huge rallies are still a possibility.  Next time there would be a jump to $1000,- in a week's time, many people who bought this year will sell to cover their losses, and nobody is going to make the same mistakes as those who bought at $800,- and so - the price cannot stay there very long.  That would result again in a similar crash as in the beginning of this year, but this time people are not going to sustain the slow decay, and will cut losses.  Nobody (contrary to those buying at $1000, or at $800 last year) is going to believe in a sustained high price so that they will panic-buy to "get on the train" anymore.  If it spikes to $1000,-, people will hold their buy orders, might give their sell orders, and will wait for the price to come down, which it then surely will !  No market manipulator can sustain a high price and cover all the losses of this year (when people sell) plus the 3600 coins a day mined, unless he's willing to spend a lot of money on that (tens or hunderds of millions of $ a week). 
The reason is simply that the market fundamentals for bitcoin cannot sustain such a high price for the moment.  The gold market share is not large enough yet, and merchant adoption is not wide enough for the moment.  I even think that the current price can only be sustained because only a small fraction of the coins are liquid at this moment (most are held), and I would guess that most merchant adoption is still in the black market.

In other words, in my opinion, bitcoin came to a sort of "market maturity" and now the price will follow bitcoin's adoption (somewhat ahead, speculatively), so all long term price evolution will be rather slow.  Up or down, depending on adoption.  $10 000.- or $100 000,- are not out of reach, but not overnight, only when the fundamentals allow it.
$1.- is also a possibility.  The assigned probabilities to those future prices makes up the current market price.

Binary options ?

I don't think it is a blight on bitcoin or gold, more a result of money running into stocks and the USD rising.

Will gold go to ATH's? I think while there is global QE, no. The US have stopped but the BoJ has picked up the baton. When the BoJ's printing runs out of steam I think the ECB will announce more straight forward QE (Draghi's words still have the desired effect & their current method is sneaky QE).

If, however, confidence in the policy nosedives or some geo-pol events explodes, then hello Gold / Bitcoin spike.

My guess is lack of innovation. Many businesses are scams or get hacked and people end up losing money.

Future not looking too bright at the moment.

That ride is similar to what bitcoin did since september :-)  grossly 1/3 of the exchange rate down, if you take the 1800 versus 1200 for gold now, and the 470 (September) to 350 (now) of bitcoin.

Well trolled Sir.

Greenspan's advice during his reign was consistently wrong and he completely missed the biggest crash in decades.

What I think is that no one knows how this will turn out and so the $10k by 201X crowd are just excitable.

But, regardless of bull/bear leanings or your viewpoint on regs, if NYFDS regs are introduced it will provide a playing field for Wall St to put $$ in to.

Also, importantly in my view, it will change the media narrative. Less drugs/ML and a shift from blockchain good, bitcoin bad to S.o.V-24/7- instant-secure-convienient way to pay.