Low price, come on people it doesn't have anything to do with scalability

Altcoinmoney

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Quote from: RyNinDaCleM on February 03, 2016, 11:05:49 PM

Quote from: DieJohnny on February 03, 2016, 10:49:38 PM

China markets have tanked, US markets have tanked, the world economy is in turmoil, but in the last month bitcoin price does nothing but tank.

People that seek to escape plunging currencies and crappy investments don't really care about something like how many txns a day can bitcoin handle without a fee, they can't even put it in context. If we had any market fleeing stocks or China we would see a massive jump in price, but we see the price decline... why?

SOMETHING ELSE is keeping the price down. Something tells me we are in the middle of a massive attack on Bitcoin and don't even realize it.... Govts, alt competitors, miner thieves, sidechain master manipulators.... who knows

Scalability could be solved tomorrow and we would likely go down another $5. The halving is going to come and go and we are going to be worth $225 a coin.

Please provide answers that ARE NOT about scalability. Thanks!

Too many Buy and Holders that have already bought and held! Now they have no money left to buy it up anymore. I'm not sure anyone has ever thoroughly proven that demand or new users is on the rise (No, unique addresses is not proof). Risk off situation in stocks does not mean to risk double by sinking it right back into Bitcoin. Don't count on wallstreet carrying this to the moon... It may not happen as many here think it will. Last and not least, the bear market is not over yet (not a claim, just a possibility). Many people were shaken off Bitcoin a year or more ago. Many of those will never come back after losing their asses in this. People aren't in a hurry to be the next ones either.

Indeed the price of the bitcoin when it drops has nothing to do with the scalability of it you know there are to many people just holding coins
and dont do anything with them they need to spent before the price will rise again.

DieJohnny

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Quote from: blunderer on March 25, 2016, 12:17:10 PM

Quote from: DieJohnny on March 25, 2016, 11:53:39 AM

... I am either the stupidest human on the planet or you are wrong in every way I can possibly imagine. ...

Neither. The argument's fine, and, while thinking isn't necessarily your strong suit, there are dumber people around.

Which is not to say that your post is without merit. For instance, your point about the cost of your "device" is perfectly valid. If my bank charged me for my debit/credit cards, and charged me a fee to use cash, I would be forced to add that to my cost of transacting in fiat.
So point taken, make it "MORE THAN $6 per transaction"

You invent and stand behind the idea that Bitcoin is "useless as "P2P cash." Huh

?? But then how do you justify that fact that it serves just that purpose for so many??? Absurd....

blunderer

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Quote from: DieJohnny on March 25, 2016, 11:53:39 AM

... I am either the stupidest human on the planet or you are wrong in every way I can possibly imagine. ...

Neither. The argument's fine, and, while thinking isn't necessarily your strong suit, there are dumber people around.

Which is not to say that your post is without merit. For instance, your point about the cost of your "device" is perfectly valid. If my bank charged me for my debit/credit cards, and charged me a fee to use cash, I would be forced to add that to my cost of transacting in fiat.
So point taken, make it "MORE THAN $6 per transaction"

DieJohnny

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Quote from: blunderer on February 06, 2016, 05:54:25 AM

It's also not the cheapest way to send money around the world -- transactions are currently subsidized by Bitcoin base money inflation ("block rewards"), which amount to roughly $6 per transaction, no matter how small the transacted amount is. So useless as "P2P cash."

I liked your post until you said this.... I am either the stupidest human on the planet or you are wrong in every way I can possibly imagine. If you want to add the block reward to the cost of the transaction, then why not all of the power too.....and the cost per hour to send all those transactions, and the cost of my device is used to sent it.... your comment makes absolutely no sense.

blunderer

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Quote from: European Central Bank on February 05, 2016, 01:36:54 PM

I don't buy the conspiracy theory stuff. Bitcoin's no more desirable than it was a year ago. Nothing much has changed apart from more aggravation. The rest of the world still doesn't get it, banks still believe they can bypass it, the number of users is going up a little but it's not explosive. Considering all that it's doing ok.

No conspiracy theory. Quite the opposite -- the cat's out of the bag, the obvious is finally obvious to everyone -- Bitcoin doesn't scale well.
In its present form, it's capable or roughly 3 (three) transactions per second, which is roughly equal to 10 NYC bodegas.
It's also not controlled buy maths & sciences per sales pitch, but by a bunch of childish neckbeards, who take temper tantrums, have fragile egos & never agree on shit.
It's also not the cheapest way to send money around the world -- transactions are currently subsidized by Bitcoin base money inflation ("block rewards"), which amount to roughly $6 per transaction, no matter how small the transacted amount is. So useless as "P2P cash."

blunderer

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Quote from: afbitcoins on February 05, 2016, 12:21:14 PM

Quote from: bargainbin on February 04, 2016, 10:22:38 PM

And, of course, when ~~the CEO of Bitcoin~~ one of the most senior devs publishes a piece about Bitcoin being dead...
Sad

who no-one had ever heard of until his little moment in the spotlight.

There are good reasons for the next bubble will take off, there will be capital flight from plunging stock markets, there is undervalued bitcoin which has fallen too far in value because scalability fear, there will be halving mania to factor in, there will eventually be agreement about scalability. While all that is going on there will be human greed who will notice a rapidly rising asset and rush to get onboard too. It could be a perfect storm

We already have "agreement about scalability" -- Bitcoin doesn't scale, and 3tps (or 30 tps, or 300 tps) is as laughable for something pitching itself as "the fastest, cheapest way to send money around the world" is absurd.

The disagreement is in details only: one side feels Bitcoin should stay true to Satoshi's vision (Bitcoin: A Peer-to-Peer Electronic Cash System) for as long as possible by increasing max_block_size, while the other wishes to relegate it to being a "store of value" (lol) & what amounts to bank2bank settlement system.
The two sides are slapfighting each other & using potty language, for all the world to see, which brings us to the next agreement, agreement re. systems relying on consensus.

Which is: without clearly defining the mechanisms for achieving said, or even WTF "consensus" means: those don't work.

The "halving mania" is an addict's pipe dream, there is no frickin' mania, other than in bagholders' fevered imaginations. Put down the pipe, put out that lamp, and go home.

Jon Connor

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Its bitcoin...there are corrections to wild up swings and wild down swings. Price is where it should be. Hitting the 500 range at the end of last year from hitting around 170 range earlier last year is a massive jump in price. The price has to correct. We will see the same thing this year with the halving event. Its all speculation and knowing how to trade. I bought a lot of coins at 175 last year. I also bought then sold a lot of ltc and used the proceeds to buy bitcoin. ltc had a big rise in price due to speculation of their halving event. People could have made a lot of money last year buying low and then selling high in December. I bet a lot of people did.

European Central Bank

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I don't buy the conspiracy theory stuff. Bitcoin's no more desirable than it was a year ago. Nothing much has changed apart from more aggravation. The rest of the world still doesn't get it, banks still believe they can bypass it, the number of users is going up a little but it's not explosive. Considering all that it's doing ok.

afbitcoins

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Quote from: bargainbin on February 04, 2016, 10:22:38 PM

And, of course, when ~~the CEO of Bitcoin~~ one of the most senior devs publishes a piece about Bitcoin being dead...
Sad

who no-one had ever heard of until his little moment in the spotlight.

There are good reasons for the next bubble will take off, there will be capital flight from plunging stock markets, there is undervalued bitcoin which has fallen too far in value because scalability fear, there will be halving mania to factor in, there will eventually be agreement about scalability. While all that is going on there will be human greed who will notice a rapidly rising asset and rush to get onboard too. It could be a perfect storm

afbitcoins

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For me its all normal market psychology after that mini bubble spike up to $500. this is all part of market correction from big price rises. Don't forget we were below $300 not so long ago, we are still up and bull mode is still on.

I still expect big rise due to halving, give it time.

martinacar

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I indeed think you now at this time it should go buy. Because the price is in fact now very low and that is just a good opportunity for everyone.
And then you have to hope that it can make you a profit.

J4mie

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This is because of the huge pump during December, it'll go up again soon I think

BellaBitBit

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It may have a bit to do with the scalability issue, it has been in the headlines for awhile now. It could be financial uncertainty in general globally - no one knows what is a safe haven these days. Whatever it is, it is a chance to get some cheap coins. Bitcoin has shown its resilience.

bargainbin

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Quote from: DieJohnny on February 05, 2016, 12:04:04 AM

Quote from: bargainbin on February 04, 2016, 10:22:38 PM

But it is about scalability ...but not in a knee-jerk way.
Remember when Bitcoin was gonna be the global currency of the future, cheapest, fastest way to transfer value around the world, without any gougy middlemen?
Yeah, me too. Never bought it myself, but was a heluva back story, no?

And remember the line how Bitcoin is immune to human ~~spergings~~ ~~fuckups~~ frailties, guaranteed by maths and algorithms and stuff?
Now we got a glimpse of the greasy midgets working our Mechanical Turk, so it don't quite seem as magical and secure and certain as ~~the marks~~ ~~the suckers~~ the general public was led to believe.

And, of course, when ~~the CEO of Bitcoin~~ one of the most senior devs publishes a piece about Bitcoin being dead...
Sad

The problem is the masses that buy bitcoin in china, Russia, europe and even the USA aren't holding back because they are waiting for the block size debate to be settled, that is complete nonsense.

Anyone that wants to hedge against their other assets will buy bitcoin even if it takes an hour to confirm.

My prediction is we will resolve the scaling problem and nothing will happen to the price.

Sure, nobody's buying BTC to actually *use* it, but we do need a plausible backstory to ~~rope in the rubes~~ keep the dream alive for the ~~stupid marks~~ other Bitcoin enthusiasts. And now that they're making it tougher for our European friends to launder money through Bitcoin exchanges...

DieJohnny

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Quote from: bargainbin on February 04, 2016, 10:22:38 PM

But it is about scalability ...but not in a knee-jerk way.
Remember when Bitcoin was gonna be the global currency of the future, cheapest, fastest way to transfer value around the world, without any gougy middlemen?
Yeah, me too. Never bought it myself, but was a heluva back story, no?

And remember the line how Bitcoin is immune to human ~~spergings~~ ~~fuckups~~ frailties, guaranteed by maths and algorithms and stuff?
Now we got a glimpse of the greasy midgets working our Mechanical Turk, so it don't quite seem as magical and secure and certain as ~~the marks~~ ~~the suckers~~ the general public was led to believe.

And, of course, when ~~the CEO of Bitcoin~~ one of the most senior devs publishes a piece about Bitcoin being dead...
Sad

The problem is the masses that buy bitcoin in china, Russia, europe and even the USA aren't holding back because they are waiting for the block size debate to be settled, that is complete nonsense.

Anyone that wants to hedge against their other assets will buy bitcoin even if it takes an hour to confirm.

My prediction is we will resolve the scaling problem and nothing will happen to the price.

bargainbin

full member

Activity: 126

Merit: 100

But it is about scalability ...but not in a knee-jerk way.
Remember when Bitcoin was gonna be the global currency of the future, cheapest, fastest way to transfer value around the world, without any gougy middlemen?
Yeah, me too. Never bought it myself, but was a heluva back story, no?

And remember the line how Bitcoin is immune to human ~~spergings~~ ~~fuckups~~ frailties, guaranteed by maths and algorithms and stuff?
Now we got a glimpse of the greasy midgets working our Mechanical Turk, so it don't quite seem as magical and secure and certain as ~~the marks~~ ~~the suckers~~ the general public was led to believe.

And, of course, when ~~the CEO of Bitcoin~~ one of the most senior devs publishes a piece about Bitcoin being dead...
Sad

hector3115

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Activity: 481

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It's all about scalability. Markets of any kind hate uncertainty and there is a lot of that going on right now. No one knows which direction we're headed. This is a huge event for Bitcoin to move forward.

Once we move past this, I think we're going one way or another hard and fast. I'm hedged with Ethereum which has been working out really well. I think they would be the huge benefactor if the devs fuck up Bitcoin.

But I will never sell my Bitcoins, I will ride them into the ground if need be.

CryingMidget

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Quote from: abs350 on February 04, 2016, 12:44:47 AM

Sure scalability is not an issue but just bull&&& from the bears. Any excuse to sell guys??

Just be patient. We are going to $500 but there is for some reason alot of selling going on these last few days.

When the market eventually turns it will rocket upwards. We are at the beginning of a second megabubble

yeah dude people would have think and they can buy a bitcoin by utilsing this time and this little price fall. Bitcoin will make a big change in price and adaption as soon as possible.

Atleast if you not able buy bitcoins also no problem but don't sell it because in future we can big profit.

abs350

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Sure scalability is not an issue but just bull&&& from the bears. Any excuse to sell guys??

Just be patient. We are going to $500 but there is for some reason alot of selling going on these last few days.

When the market eventually turns it will rocket upwards. We are at the beginning of a second megabubble

DieJohnny

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Quote from: RyNinDaCleM on February 03, 2016, 11:05:49 PM

Quote from: DieJohnny on February 03, 2016, 10:49:38 PM

China markets have tanked, US markets have tanked, the world economy is in turmoil, but in the last month bitcoin price does nothing but tank.

People that seek to escape plunging currencies and crappy investments don't really care about something like how many txns a day can bitcoin handle without a fee, they can't even put it in context. If we had any market fleeing stocks or China we would see a massive jump in price, but we see the price decline... why?

SOMETHING ELSE is keeping the price down. Something tells me we are in the middle of a massive attack on Bitcoin and don't even realize it.... Govts, alt competitors, miner thieves, sidechain master manipulators.... who knows

Scalability could be solved tomorrow and we would likely go down another $5. The halving is going to come and go and we are going to be worth $225 a coin.

Please provide answers that ARE NOT about scalability. Thanks!

Too many Buy and Holders that have already bought and held! Now they have no money left to buy it up anymore. I'm not sure anyone has ever thoroughly proven that demand or new users is on the rise (No, unique addresses is not proof). Risk off situation in stocks does not mean to risk double by sinking it right back into Bitcoin. Don't count on wallstreet carrying this to the moon... It may not happen as many here think it will. Last and not least, the bear market is not over yet (not a claim, just a possibility). Many people were shaken off Bitcoin a year or more ago. Many of those will never come back after losing their asses in this. People aren't in a hurry to be the next ones either.

I think you are right that a lot of people have lost money in bitcoin. Everyone thought they were going to be millionaires by now and are bitter. Makes me feel like we will see capitulation event before we go higher.

Topic: Low price, come on people it doesn't have anything to do with scalability (Read 1391 times)