Topic: The Despondancy Stage - page 3. (Read 5345 times)

You weren't here then so I don't expect you to understand that that's not what I mean. 

It's easy to walk around with your shit brush and paint it all brown, and to be honest that's exactly what I expect from you.  Just to share: it wasn't just "people buying and HODLING expecting 1 gazillion per coin", in fact the early "pioneers" if we can call them that spread their BTC wealth quite willingly.  There were BTC bounties offered for development and technical assistance.  There were faucets that gave multiple coins away.  People mined at a financial loss and were more than happy to do so.  There were countless other things going on that were all reflective of people sharing, building, and growing BTC because of the ideas behind it at the time. 

But I digress.  You weren't there, you didn't witness it, and thusly I don't expect you to be cognizant just how much this "community" has changed.

So we are in the good ol' "people buying and HODLING expecting 1 gazillion per coin thanks to greater fools are saints and are in for the ideals but the people dumping or shorting because they expect the price to go down are evil and greedy".
I see...

The "to the moon" mentality has been around for a long time...

I hope you're not suggesting that a portion of Bitcoin's userbase is motivated by  ...greed?  Unthinkable!
Is there no limit to human depravity, using Bitcoin as if it was real money?!  For monetary gain even?!!1!

The mining inflation is, IMO, only a small fraction of the "reason" for the continued down trend.  I think the run up to $1,000 brought a lot of people in who have no interest in BTC outside of speculation to increase fiat holdings.  I would also attribute some of that rise and fall to the mining scene.  The advent of ASICS brought a lot of money into the BTC economy as a lot of mining HW could only be purchased via BTC.  The decline in mining HW demand also attributes to a decreasing in demand for BTC (no need to acquire if not purchasing HW).


OLD miners held, newer miners are looking for a payday.  Example of a corpo: KnC.  Example of a miner: xstr8guy.  I don't believe that miners looking for a pay day would have been speculative buyers.

What has happened between then and now is a shift in the people involved in BTC.  It's moved far away from the ideals and beliefs of the initial user base to groups of people looking to abuse it for monetary gain.  Obviously there are still new comers interested in the tech, but I would guess a majority are looking for a way to bank $$$, not BTC.

It is a combination of these fundamental shifts, the proliferation of exchanges offering margin trading (and yes, BTC inflation) that are the key motivators for what we are seeing now.

Do you have any proof for these accusations?

Currently I'm not even trading. But sure I've shorted in the past among other trades. I was expecting the price to crash and it did, what was I supposed to do go long or buy or hold and lose money? And if I ever talked about buying here in this forum (pretty sure I never did tho) was just as a trade not because I wanted "cheap coins". Nothing that is in contradiction with my general medium-long term bearish outlook for BTC.

"Manipulative purposes"? Do you really think that my posts can influence the price of what is currently a multibillion (maybe not for long tho) market? Are you serious??
I just post my opinions in here and the majority of time they are backed by concrete arguments.

Another historical fact:  I was told to buy @$1,200 but, like a fool, I resisted.  

I'd like to meet you in real life... to smack you upside the back of your head for lending your coins out on Finex 

I kid 

Its very simple.  The price is depressed by 3600 new coins per day.  And no it doesn't matter that exchanges are doing tens of thousands of trades per day -- most are likely the same coins passed between the same traders.  It doesn't matter that miners often hold.  If they weren't holding mined coins they would have been buyers.

Creating the next wave will be actual use or fear-driven diversification.

By actual use I don't mean another exchange.  I mean remittance, changetip, to a lesser degree credit card replacement (since the benefits are minimal, esp if you don't already hold BTC), and most importantly new uses.

Diversification is not happening much now because most people are momentum buyers and central banks are mostly keeping a lid on things.  So there is less reason to diversify out of fiat currencies, and BTC is not perceived as such a great choice even if you wanted to.
 
This could change if we have a few months stability or a gradual rise.  But again, this will be hard at 3600 coin inflation per day.

Thanks for the analysis.

OP I have to say I find your posts highly refreshing. I think it is worth pointing out that the 'float' of coins moving the price up and down is tiny compared to the vast majority of coins which are 'held' by people like you and me who actually believe in the technology. We are what give the commodity value.

Whilst there may be one or two honest bears on here who believe that bitcoin is destined to fail, almost everyone else without exception is simply trying to buy back in at a lower price or actively shorting the commodity, whilst dishonestly talking it down for manipulative purposes. Nothatinjustrollin is a fine example. Lets be honest none of us would want to meet up with any of you in real life.

Until you're broke and then it goes to zero after that.

May god have mercy on you degenerates while i'll get rich with efficient alternatives.

Me. 

your network at these prices costs 5700 USD every 10 minutes
at 1000$ it would cost 25000$ in 10 minutes, or 3.6 million in a day ... 1.3 billion in a year.
Who's going to pay that? Nobody, that's who.

There isn't more that needs to be said

"My time is more valuable than the $0 I get paid to troll BCT"

Pretty much sums up his math abilities.

Oh you just found some of your valuable time to write such an insightful comment? Thank you good sir!

I'm still waiting for your math though...

All the things about how unsustainable the coin is have been said in numerous threads. I don't need to repeat it for the last retarded sad individuals because my time is more valuable than that.

Interesting historical fact:  Some fool, much like you, was saying the same thing to me when I bought at $8 and it slumped down to $4.  

What a fool I was.

 

I tend not to ignore people that have views contrary to my own as long as they have something of value to add to a debate.  Luckily for me, you seem to be void of the ability to contribute.

Show us your math 

sure - always more down
On 80$ i will still vote down ... because i can do math