This is why bitcoin is crashing - page 6.

fox19891989

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Quote from: MUFC on January 14, 2015, 08:07:22 AM

Quote from: DaveWave on January 14, 2015, 07:07:58 AM

Quote from: Dogtanian on January 14, 2015, 07:03:51 AM

I sense you are in the newb troll phase Cheesy

. Bitcoins aren't comparable to tulips because you can't send tulips around the world in seconds for little to no fee. Just because the price is low doesn't mean the denial face is operational. Give it time newb then we'll see who's right.

It's the internet that sends thing round the world instantly and computers that enable cheap transactions. To capitlise Bitcoin in billions is why its like tulips.

And what is it that processes those transactions? The blockchain. Do tulips have a blockchain? No. As for bitcoins being a store of wealth they store their 1btc wealth pretty good. 1btc is always worth 1btc, what others pay in fiat for it is a different matter.

Yes, BTC is innovative and has blockchain technology, it will change the world, but the tulips have nothing, only for decoration?

Frigga77

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Quote from: DaveWave on January 14, 2015, 08:38:41 AM

Quote from: crazy-pilot on January 14, 2015, 08:34:34 AM

I'm Dutch and this is utter ridiculous analogy.

At the time bulb growers thought the price would keep going up. When the market went down they thought it was a blip.

The analogy is this is a bubble that has popped. Where is it ridiculous.

You are 13 months late with your theory.

DaveWave

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Quote from: llanillo on January 14, 2015, 09:33:11 AM

This should be in off topic....

and bitcoin is crashing because cryptodouble scammers are selling all their bitcoins even cheap because they dont care about nothing

Or is it chinese miners selling to pay their bills

Or is it the lack in demand with the closure of silk road

Or is it the likely crack down post Paris massacre as to prevent funds reaching ISIS

Or is it the general feeling that this was a bubble, fed by the fears of a global economic collapse that doesn't appear to have happened. e.g. Investors not wanting to be in any currency bought anything tangible, creating spikes in oil, food and bitcoin?

Bitcoinpro

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Quote from: DaveWave on January 14, 2015, 09:31:04 AM

Quote from: rax on January 14, 2015, 09:22:27 AM

Precisely

You've been proving that you have no idea how the Bitcoin network actually works. Go read up before opening silly topics like this one. Thank you.

I think I said bitcoin is purely data, which in turn is stored on a disk, albeit distributed across many machines. Never said anything about your hard disk other than I don't know what's on it so apologise at your leisure.

Anyway, this is off topic, the point is bitcoin is as valuable as a tulip bulb. (I mean intrinsic value, I know it's currently worth $200)

the intrinsic value is the price of all the mining equipment, peoples computers, their education, their food they ate in their lifetime, their generational history,

you really picked the wrong word,

now lets look at the intrinsic value of a tulip, its a seed you drop in the ground walk away come back and its their,

llanillo

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This should be in off topic....

and bitcoin is crashing because cryptodouble scammers are selling all their bitcoins even cheap because they dont care about nothing

DaveWave

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Quote from: rax on January 14, 2015, 09:22:27 AM

Precisely

You've been proving that you have no idea how the Bitcoin network actually works. Go read up before opening silly topics like this one. Thank you.

I think I said bitcoin is purely data, which in turn is stored on a disk, albeit distributed across many machines. Never said anything about your hard disk other than I don't know what's on it so apologise at your leisure.

Anyway, this is off topic, the point is bitcoin is as valuable as a tulip bulb. (I mean intrinsic value, I know it's currently worth $200)

rax

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Precisely

You've been proving that you have no idea how the Bitcoin network actually works. Go read up before opening silly topics like this one. Thank you.

DaveWave

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Quote from: rax on January 14, 2015, 09:08:05 AM

Just for our enlightenment and entertainment, what's exactly on my hard drive?

How would I know?

Q7

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No the first bulb will always maintain the true value. The rest of those that comes out from the first are the ones which don't hold any value. Eventually people will realize that.

H.W.Z

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They are different! Bitcoin is new innovation not recognized widely yet! There are a lot of negative news coming out and driving down the price recently!

rax

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Quote from: DaveWave on January 14, 2015, 09:03:17 AM

Quote from: rax on January 14, 2015, 08:57:35 AM

Lol. Guess who didn't do his homework

err, you

Just for our enlightenment and entertainment, what's exactly on my hard drive?

DaveWave

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Quote from: rax on January 14, 2015, 08:57:35 AM

Lol. Guess who didn't do his homework

err, you

rax

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Quote from: DaveWave on January 14, 2015, 08:12:49 AM

I repeat, bitcoin per se cannot have value, it is not an asset. It's data on hard drives, end off.

Lol. Guess who didn't do his homework

Bitcoinpro

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Quote from: DaveWave on January 14, 2015, 08:35:51 AM

Quote from: Bitcoinpro on January 14, 2015, 08:33:10 AM

btc and ltc are the strongest therefore exponentially worth more than alts

we don't have our own coin each because team work is far superior

But alts are worth nothing

you made a metaphor for my second line

cyberpinoy

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Quote from: JJB on January 14, 2015, 06:41:59 AM

Oh great. Another tuplipmania analogy by a newb. They're completely different as has been explained zillions of times.

Yes your are so very right, there is an actual demand for tulips people need them and want them for a real reason, to landscape their houses, what was bitcoins demand again ...Oh yea NOTHING. It does not hafve a real demand. and the real purpose it serves no one even pays attention to.

If I a so wrong why is your precious bitcoins under 200 bucks HAHAHA. Where all these veterans who said " thanks for the cheap coins. there you go vets you cheap coins are there and your STILL NOT REALLY BUYING ANY, your dumpoing just as fast as everyone else HAHAHA.

SO for a newb he knows a lot more than you huh?

DaveWave

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Quote from: crazy-pilot on January 14, 2015, 08:34:34 AM

I'm Dutch and this is utter ridiculous analogy.

At the time bulb growers thought the price would keep going up. When the market went down they thought it was a blip.

The analogy is this is a bubble that has popped. Where is it ridiculous.

DaveWave

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Quote from: Bitcoinpro on January 14, 2015, 08:33:10 AM

btc and ltc are the strongest therefore exponentially worth more than alts

we don't have our own coin each because team work is far superior

But alts are worth nothing

crazy-pilot

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I'm Dutch and this is utter ridiculous analogy.

hoversensitive

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great great

Bitcoinpro

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Quote from: DaveWave on January 14, 2015, 08:29:45 AM

Quote from: ?? on ??

Oh not this shit again, last time I checked tulips didn't have an ease of sending around the world, do not die/expire, have a limit on how many produced and a produced amount with difficulty.

Granted Bitcoin is limited, but it's a cryptocoin. Just like any of the other 500 coins out there including Paycoin which I think you believe in. There is no fundamental reason why bitcoin should have any more value then any other coin other then it was first to market.

And there is no limit to the number of crypto coins that could be made, hell, we could each have our own coin, and why should it be worth any less than bitcoin? Answer, it shouldn't, they're all worthless.

At least with a bulb I can grow a flower and give it to my wife.

btc and ltc are the strongest therefore exponentially worth more than alts

we don't have our own coin each because team work is far superior

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