Topic: Stop your BTC cheerleading and mass delusion and face the reality - page 8. (Read 10165 times)

Yeah, some people here are afraid of the open debates and will only support the post that are in alignment with their almost religious views. I do not have anything personal against bitcoin and have been dealing with it for 2 years now, I just feel it is time to state the obvious, and debate it as men, not blind worshipers.

If you had done you research about bitcoin, you would know that is an almost exact quote of Satoshi Nakamoto, and one of the most famous ones.

That is not me making this stuff up. Just paraphrasing the man who created bitcoin.

Trying to hide this?

No specific price was speculated in the OP. It discussion about scaling which is not a speculation topic.

Belongs in Speculation subforum.

Facebook was launched to the public Sept. 2006.  Bitcoin also had a period before its Jan 2009 launch wherein it was tested by a smaller group. So thus Facebook is only 8 years old as a public service and has 1.2 billion users. Bitcoin is nearing 6 years old as a public service has about about 1000X less users. Sorry there is no comparison.

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

The price is irrelevant , do you understand that? The only value it has is as a vehicle for supposedly anonymous fiat transactions - but even this is exposed as not being 100% true. We all know why all those dark alts started emerging this year, because BTC does not provide 100% anonymous transactions. It is very hard to track them, but not impossible and with enough manpower and resources certain entities (read: CIA) can track you down.

 'If this does not happen BTC will be literally worthless - not even half a cent that it started at. '

That's BULLSHIT. Bitcoin was born on the darknet and on the darknet it may remain if mass adoption doesn't come to fruition. 

Nonetheless, as a payment service for tech companies and drug vendors, Bitcoin would still retain plenty of value .. it just won't soar to the astronomical heights that people are predicting from mass adoption.

I agree with almost everything in the OP, except I am leaning more towards there will be another bubble in Bitcoin after bottoming below $200 in 2015. As I have explained in the Mad Max thread, until 2032 we are in a 51.6 year wave with peaking Public (government compatible) assets, e.g. sovereign bonds and Public pensions, and a move towards Private assets. The next 4.3 year wave of that overall wave will begin Oct. 2015, so that is when gold and Bitcoin will start to move up again. Bitcoin could perhaps move up 10X or perhaps at most 100X from $100ish to at most say $10,000.

Now it is somewhat possible that another crypto-currency could compete with Bitcoin, but that is a risky bet.

Bitcoin will be integrated into the government approved systems (e.g. KYC know your customer), but at the same time the bankrupt national government systems will be torn down and global or regional monetary systems will replace them after 2032, when btw China and Asia will be the new financial center of the world.

Is Mastercard's Executive with us?
It looks like it, http://www.coindesk.com/mastercard-executive-argues-bitcoin-cant-trusted/

Well, first of all I'm using bitcoin as a currency that I don't have any limitations. For example if I leave my country for a vacation or etc, Foreign banks charges me a lot for a few bucks to spend on vacation. Also I can't carry a lot fiat with me...

But I can sell my bitcoin for fiat in a foreign country without paying any charges etc (in person of course).

But I'm agreeing with you on one topic; "bitcoin shouldn't be seen as a solid investment opportunity".

Repeat Telecast

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