Topic: Stop your BTC cheerleading and mass delusion and face the reality - page 2. (Read 10165 times)

People, you need a reality check. Most of you here are holding to a few BTC expecting to become millionaires some day. You are in a collective mass delusion - about 95% of you here.

Satoshi Nakamoto stated himself that with BTC there will be no middle way - it will absord the whole world's economy which is estimated to be around $100 trillion including the black markets. If this does not happen BTC will be literally worthless - not even half a cent that it started at.

Bitcoin has been around since 2009 , so we are entering the 6th year of its existence. How many years would it take for bitcoin to absorb the total global economy? 50 years ? 100 years ? I doesn't matter because it was just another fad like myspace with a limited lifespan - that opened the social media to the mainstream and gave us twitter and facebook. Bitcoin's historical significance will be that it launched the concept of crypto currency to the mainstream. It will not be worth $10,000 or $100,000 dollars anytime soon (read: never).

So those of you who are still in delusional states holding the BTC you bought at $700 or $900 dollars, cut your loses and get away as fast as you can. November 2013 was the bubble which will never repeat again. All this talk about ETF is rubbish, because it is already calculated into the price.

The time is running out for BTC , and I am 90% certain it will be worthless before 2020. It has accomplished its task - crypto currency is mainstream.

Those smart enough know that the only real purpose of BTC right now is as a vehicle for transaction of fiat money, without being exposed to the scrutiny of the government checks and the global banking system, they understand that bitcoin is not a commodity, not a store of value, and it never was - to them it doesn't matter if the price of one BTC is $1 or $100,000. It doesn't change anything.

Some of you are so emotionally attached to your stack of bitcoins that you will react in a violent emotional outrage at my post. Those of you who are more stable are starting to realize what the score is, and no mate your 10 BTC or your 100 BTC stack will not make you a $ millionaire, might as well go to Vegas and try your hand at becoming a millionaire there. You have better chances.

Sam

Satoshi Nakamoto stated himself that with BTC there will be no middle way - it will absord the whole world's economy which is estimated to be around $100 trillion including the black markets. If this does not happen BTC will be literally worthless - not even half a cent that it started at.

Well the idea idea of cryptocurrency is here to stay.
Cryptocurrency is very convinient and secure.
The question is will it bitcoin?
I think the answer is yes because businesses like overstock.com and microsoft have already started accepting it and they probably don't feel like the minor changes other crypto currencies offer are worth the hassle of switching.

Although 64% of bitcoins have been mined, the increase in money supply (percentage terms) far exceeds the increase in money supply of fiat in most countries.

Over half the potential Bitcoins have already been mined. 64%, actually.  That gives a sense of the real time scale involved.

Why does bitcoin need to: "absorb the total global economy"  ? Credit cards don't account for the global economy and still are successful.

I don't know how Satoshi saw that, but the fact that the inflation of bitcoin is programmed over 130 years, gives you an idea of the sort of time scale he had in mind.