Now it's when people start calling overly pessimistic bottoms - page 2.

cellard

legendary

Activity: 1372

Merit: 1252

Quote from: ktabb on February 01, 2018, 01:38:30 PM

This is horrible advice. What logic suggests that bitcoin will ever set a new all time high again? Why do you think it's not a problem that bitcoin is not scalable and therefore can never become a universal currency? Why is it not a problem that transaction fees are absurdly high and take a long time? What about the fact that governments are cracking down and companies are banning crypto-related services and ads?

And most of all, what about the fact that there is now much greater competition among alt coins than there ever was in the past, making the crypto space infinitely inflationary? Why are none of these things an issue? Any one of these is enough reason for bitcoin to never reach its previous highs again. Honestly this decline is more than warranted. It should continue for quite a while and I don't see any reason to think it will ever recover. This is very different from in the past for all of the reasons I mentioned above.

For the record, I owned bitcoin for years and sold my last remaining btc at $17,700.

The scaling problems are being addressed with new research on signature formats and second layer solutions, not to mention that for BTC to reach $100,000+ it would only require a small % of capital allocated in gold to get into bitcoin, so solely as a store of value, ignoring the fee problems, BTC has a potential of 6 figures.

Anyone that got into Bitcoin thinking that governments wouldn't attack it is delusional, crypto-related services and ICO scams being advertised are irrelevant for Bitcoin's rise.

Altcoins do not inflate Bitcoin, Bitcoin still has a 21 million coin limit supply.

Bitcoin will reach a new all time high, either as an underground stoppable store of value alone keeping people's wealth safe from corrupt governments, or as a successful currency via second layers as well.

We will revisit your post once we reach ATH.

European Central Bank

legendary

Activity: 1288

Merit: 1087

From now until the next all time high we're gonna be swamped with geniuses in retrospect.

What I find tiresome is the endless search for definitive moments.

Every reversal is more than likely not IT, just as every fall is not the death spiral the noob account assholes shout about.

Most of the time the next move is not epic. It'll be forgotten in a few hours.

Let it play out and go do something more productive.

fabiorem

sr. member

Activity: 1400

Merit: 347

Not only lightning, theres also MAST, smart contracts for bitcoin:

https://www.coindesk.com/inside-mast-little-known-plan-advance-bitcoin-smart-contracts/

I'm going to bleed as bitcoin touches 5k, but I'm not all-in, so no need to sell.

The problem with most people is that they put all their eggs in a single basket. They go full into crypto and dont inform themselves about the risks. Thats why we have those crashes.

On a sidenote, my QT wallet got better after I put the blockchain in my SSD. Now it is synching fast and no more sluggishness.

ktabb

full member

Activity: 266

Merit: 103

This is horrible advice. What logic suggests that bitcoin will ever set a new all time high again? Why do you think it's not a problem that bitcoin is not scalable and therefore can never become a universal currency? Why is it not a problem that transaction fees are absurdly high and take a long time? What about the fact that governments are cracking down and companies are banning crypto-related services and ads?

And most of all, what about the fact that there is now much greater competition among alt coins than there ever was in the past, making the crypto space infinitely inflationary? Why are none of these things an issue? Any one of these is enough reason for bitcoin to never reach its previous highs again. Honestly this decline is more than warranted. It should continue for quite a while and I don't see any reason to think it will ever recover. This is very different from in the past for all of the reasons I mentioned above.

For the record, I owned bitcoin for years and sold my last remaining btc at $17,700.

cellard

legendary

Activity: 1372

Merit: 1252

Very common in speculative volatile markets like crypto, is to see how people become overly pessimistic once certain resistances are broken.

We have broken the January 17th bottom of low $9000, so people expect further crashing due the double bottom+recovery scenario being ruled out... now this is when people start calling wild lower bottoms, and now it's also when Bitcoin crushes the overly pessimistic shorts by deciding to start crawling back up at least expect price.

If you have held this long all the way down $20,000, just keep holding. For anyone that held from $1200 to $150 in the MtGox crash the current crash is another day in the office. So don't make the mistake of being overly pessimistic or you'll end up selling at the bottom. It's the same as being overly optimistic and buying at the peak. Keep a hold head and a strong hand, the fundamentals are good. Lightning is here. I claim we'll see Steam accepting Bitcoin payments again through LN and this will mark the start of mainstream LN adoption. Give it a few months and buy while the noobs start thinking once again that Bitcoin is dead.

Topic: Now it's when people start calling overly pessimistic bottoms - page 2. (Read 471 times)