Topic: This is why bitcoin is crashing - page 4. (Read 8144 times)

No offence taken. I just see it as a bubble and can't see a long term future for bitcoin. I'm not alone on this. Conversely there is a huge number of people who believe in it.

History will prove one of us right

Wow, if you really think BTC is comparable to freaking tulips then just wave goodbye dave.
Sorry, couldnt resist.

Prices have cycles. If something gets pumped 10x, it is reasonable to expect that it will then keep sliding for some time. In fact, it helps to redistribute the coins to the people who are truly interested in the new technology, but didn't pay attention to it before for one reason or another.

I guess people who are hurt most are the ones posting +ve, they say be happy when you are out of luck. Bitcoin did this to you, for once I thought we got a great currency to rely upon but silly its not yet widely accepted and then there are people who are storing it like gold. Mining getting expensive only chosen few can mine it but that is not the reason of crash, the crash I think happened due to more supply than demand.

There is no limit on crypto-currencies, but they will have to compete with Bitcoin's adoption curve and distribution of coins, which was designed to be permission-less. It takes time. Other crypto-coins would either have to sacrifice scarcity or introduce some other limitations (like centralization) to make distribution and adoption faster, but then they will lose neutrality of the process or stop being money in that sense.

Bitcoin is literally a proof-of-work in conjunction with a point on the adoption curve. So it's both tangible and relevant to society (has value).

The reason its crashing is because all of the "trolls" are cashing in on their get rich quick scheme.

I love how they treat "newbs" on this forum. Bunch of inbred tech arsechickens...

Thanks for your post.

Too bad immaturity has the majority vote here

You wanted to use tulip bulbs to pay for gas?  Please use less funny talk and instead use more straight talk.

Bitcoins aren't worthless yet and I for one have a great deal of confidence they will be worth a lot to folks that want a monetary tool.

It's more like limiting the $100 bills and the only alternatives being 5s, 1s and change, which are a PITA to move, get counted and change.

But last time I filled my car up they wouldn't take tulip bulbs. They were selling flowers though!

Even tulip bulbs are worth something today.  And this despite there are numerous other kinds of flower bulbs in circulation.

To point out it was a bubble, bitcoin will be worthless, sure there is a limit on the number of bitcoins out there, but not on cryptocurrenices. It's like limiting the number of 10 cent coins in circulation, you just go and use another coin.

Air is worth a lot to a suffocating person.  Water is worth a lot to a thirsty person.  Food is worth a lot to a hungry person.  ...  What do you really need?  Does anyone need a tulip bulb?

Once the most basic needs are met then wants rise up.  One could want a tulip bulb.

A tool is worth a lot to a person who can use that tool to fulfill a need.  A well, a bucket and a rope are three excellent tools and worth a lot to a thirsty person.  A tulip bulb is an excellent tool for growing a tulip and worth a lot to someone who wants a tulip.

Money is a tool.  It is an excellent tool for a person that wants to transact reliably and accurately with other folks.  It can also be an excellent tool for storing wealth until a future need or want arises.  The attributes of a specific kind of money can make it a better tool.  Few would find the attributes of a tulip bulb desirable for using it as money.

Bitcoin is an excellent form of money.  The utility of Bitcoin as a tool makes it worth some amount to the folks that know how to use it.

The exchange rate of Bitcoin with other currencies is a measure of confidence.

Speculation, panic buying, panic selling, etc., contribute to price bubbles and crashes.  Both tulip bulbs and Bitcoin are subject to the same dynamics.  Recognizing the similarities is hardly brilliant.  Recognizing the differences isn't hard.

OP, what's your point?  Tulip bulbs and Bitcoins will follow different paths.  To invoke the tulip bulb analogy yet again is rather boring.

Theives or small greeen men from mars. You really makes my day.  

I think we should concidering leaving bitcoin and entering NXT. It is outstanding and leaves out the middleman. The middleman was always the bad guy in Bitcoin land. With NXT it is al in the cloud, and no one can steal or hijack the wallet.

Oh, then I agree with you.

Yes, they should be included:
Hopefully, some of the major thieves have finished selling, so those numbers are no longer waiting to be unloaded.

Why oh why did I invest into this Bitcoinmania scam?



Man, we should've listened to all the people calling it tulips and ponzi schemes in the first place.

Now my tulips are worth nothing...wait, they're still worth $200?!!?

Fine, I'll hold this bag until the next halving at least...

By "scared people" do mean thieves that don't give a shit what price they sell for?

That is the bagholders answere to it.