only extrapolates current trends into the future without taking into account other factors - natural physical laws that would stop hashrates and difficulty from rising forever and not only can slow down hashrate growth but also lower it, especially when/if price doesn't provide sufficient support. So yeah, his predictions work, but only for a short term. It will all balance itself out in the mid-term in the free market which is cryptos. But long-term (5 years from now), Proof-of-Stake cryptos will be the winner, as they completely eliminate these controversial points that he brings up for discussion. 
Topic: URGENT, Bitcoin is on the verge of collapse !!! - page 32. (Read 67950 times)
It's funny because igorr does make some good points, but conveniently or ignoramusly only extrapolates current trends into the future without taking into account other factors - natural physical laws that would stop hashrates and difficulty from rising forever and not only can slow down hashrate growth but also lower it, especially when/if price doesn't provide sufficient support. So yeah, his predictions work, but only for a short term. It will all balance itself out in the mid-term in the free market which is cryptos. But long-term (5 years from now), Proof-of-Stake cryptos will be the winner, as they completely eliminate these controversial points that he brings up for discussion.
only extrapolates current trends into the future without taking into account other factors - natural physical laws that would stop hashrates and difficulty from rising forever and not only can slow down hashrate growth but also lower it, especially when/if price doesn't provide sufficient support. So yeah, his predictions work, but only for a short term. It will all balance itself out in the mid-term in the free market which is cryptos. But long-term (5 years from now), Proof-of-Stake cryptos will be the winner, as they completely eliminate these controversial points that he brings up for discussion. 
this thread is fun to watch.
not making sense in terms of proper bitcoin forecast, but funny :-)
not making sense in terms of proper bitcoin forecast, but funny :-)
Soon price of btc will reach $10k
Igorr, can you confirm?
Soon price of btc will reach $10k
I see a post exactly like yours almost every single day, either on bitcointalk or reddit/r/bitcoin or somewhere else. It's like all of you guys are believing something will be true without thinking it completely through. Just saying something will happen some day doesn't make it true or even remotely possible.
So let me ask you a very simple question. Let's assume for sake of argument, that a cryptocurrency's price stability needs to be at ~$100k/unit (and in the hands of over 200 million users/holders) to be considered stable *enough* to be used as a viable currency. So do you believe that one day a better cryptocurrency will just pop into existence, and will have an overnight valuation of $100K/unit immediately upon entering the market, and immediately dispersed to 200 million+ users and millions of merchants accepting it?
If your answer is Yes, then there's no point arguing with you because you believe in something that will never happen, ever.
If your answer is No, then you must realize that any competing cryptocurrency's value will have to be grown from the ground up, just like bitcoin's. And currently, bitcoin has the lead in network effect of exponential growth. Any other competing cryptocurrency, while it matures in valuation, will have to go through the *exact* same volatility as bitcoin. And if this is true for all cryptocurrencies, then why would anyone switch horses from BTC to a less mature cryptocurrency when the ultimate goal is to get to a viable market saturation, merchant adoption, and thus relative price stability? It took bitcoin 4+ years just to get the valuation it has today, and so it would with any other.
Not to mention that Bitcoin is open source and programmable, and can take on new features any time the core devs and miners decide to incorporate them.
My answer is No.
And I do realize that building from the ground up "again, again, and again" is not only possible in technology, it is mandatory. Do you still use VHS? Probably not. DVDs - blue Ray? Probably not. Haa! you are on Netflix or iTunes Store now... It took 6 years for VHS to get general acceptance over Beta format. Who won? Netflix. For now...
It is a terrible message to hear when you are an investor, a speculator, but this is life. Please, be open minded and adapt. Something better always pops out! Isn't great? That how we evolve.
VHS providers and DVD providers still made a lot of money
Dvd still make some money
Bitcoin can adapt
Google and Microsoft are still here...
I believe that you are correct. But, I would add: as long as Bitcoin remains the best-in-class of digital money.
If, one day, Bitcoin is replaced by another product which would inherit only its benefits (peer-to-peer and security of transactions, open ledger, etc), without its flaws; a collapse could happen. The major reason of Bitcoin (and clones) not to be accepted as a day-to-day currency, is its high volatility on the markets - clearly shown on the previous chart. For a currency to be considered "functional" and "desirable" for that purpose, the price has to stop increasing. Some fluctuations are tolerated by currency markets, but never to the extent demonstrated over the last 4 yrs by the Bitcoin model.
That is not the speculators fault entirely, it is due to the fixed release rate of Bitcoin. Bitcoin can't increase production of its units during time of high market demands - the supply is limited, by design. Therefore, by design, the price can only go up in those conditions. Basic economic principles.
This will remain true, until the specific model is no longer needed, because it has been replaced. It wouldn't be the first time a good idea evolves into a better one.
In my opinion, the question is not a matter of, if Bitcoin will be replaced - but by what, and when?
Until then, enjoy the ride!
If, one day, Bitcoin is replaced by another product which would inherit only its benefits (peer-to-peer and security of transactions, open ledger, etc), without its flaws; a collapse could happen. The major reason of Bitcoin (and clones) not to be accepted as a day-to-day currency, is its high volatility on the markets - clearly shown on the previous chart. For a currency to be considered "functional" and "desirable" for that purpose, the price has to stop increasing. Some fluctuations are tolerated by currency markets, but never to the extent demonstrated over the last 4 yrs by the Bitcoin model.
That is not the speculators fault entirely, it is due to the fixed release rate of Bitcoin. Bitcoin can't increase production of its units during time of high market demands - the supply is limited, by design. Therefore, by design, the price can only go up in those conditions. Basic economic principles.
This will remain true, until the specific model is no longer needed, because it has been replaced. It wouldn't be the first time a good idea evolves into a better one.
In my opinion, the question is not a matter of, if Bitcoin will be replaced - but by what, and when?
Until then, enjoy the ride!
I see a post exactly like yours almost every single day, either on bitcointalk or reddit/r/bitcoin or somewhere else. It's like all of you guys are believing something will be true without thinking it completely through. Just saying something will happen some day doesn't make it true or even remotely possible.
So let me ask you a very simple question. Let's assume for sake of argument, that a cryptocurrency's price stability needs to be at ~$100k/unit (and in the hands of over 200 million users/holders) to be considered stable *enough* to be used as a viable currency. So do you believe that one day a better cryptocurrency will just pop into existence, and will have an overnight valuation of $100K/unit immediately upon entering the market, and immediately dispersed to 200 million+ users and millions of merchants accepting it?
If your answer is Yes, then there's no point arguing with you because you believe in something that will never happen, ever.
If your answer is No, then you must realize that any competing cryptocurrency's value will have to be grown from the ground up, just like bitcoin's. And currently, bitcoin has the lead in network effect of exponential growth. Any other competing cryptocurrency, while it matures in valuation, will have to go through the *exact* same volatility as bitcoin. And if this is true for all cryptocurrencies, then why would anyone switch horses from BTC to a less mature cryptocurrency when the ultimate goal is to get to a viable market saturation, merchant adoption, and thus relative price stability? It took bitcoin 4+ years just to get the valuation it has today, and so it would with any other.
Not to mention that Bitcoin is open source and programmable, and can take on new features any time the core devs and miners decide to incorporate them.
There are 3 grey lines of different trends of bitcoin. Some of them might be possible.
Red one doesn't make any sense....
Red one doesn't make any sense....
It was just comedic TA, not to be taken serious.
There are 3 grey lines of different trends of bitcoin. Some of them might be possible.
Red one doesn't make any sense....
Red one doesn't make any sense....
Remember this post.
I claim there is almost zero chance that BTC will closely follow the paths you have in red.
We are talking about Billions of $$$ in value being wiped out, and I say 0% chance that the path will be like you say.
i agree. this is simply not how the price function behaves. although instead of 0% i must substitute the strongest statistical negative: that scenario is almost surely not to occur
Remember this post.
I claim there is almost zero chance that BTC will closely follow the paths you have in red.
We are talking about Billions of $$$ in value being wiped out, and I say 0% chance that the path will be like you say.
Sory dude, but Bitcoin no more investors, and the price will constantly falls.
Current price at bitstamp is 555 usd.
Current price at bitstamp is 555 usd.
and the dinner even start serving
shame ...
Dinner of Doom
https://www.youtube.com/watch?v=3MgyRO3c870
Sory dude, but Bitcoin no more investors, and the price will constantly falls.
Current price at bitstamp is 555 usd.
Current price at bitstamp is 555 usd.
Can you provide more fud?
I need MOAR cheap coins
I need MOAR cheap coins
Hey OP:
Nice example of pure FUD.
Has your FUD boss given you a raise lately?
Does your FUD manual tell you how to reply to this post?
Nice example of pure FUD.
Has your FUD boss given you a raise lately?
Does your FUD manual tell you how to reply to this post?
More good news from igorr: the rate of growth in the hash rate is slowing down! First, he shows us that mining is profitable now, then he shows us that since the growth in the hash rate is slowing down it will remain profitable! Thanks for all the good news and thanks for helping to pump up the price!
First he said Bitcoin is on the verge of collapse because hash rate is growing up at huge levels, than it's on the verge of collapse because the growth is slowing down.
There are lot of fudsters around but Igorr is by far the most stupid one. The others are often funny and some of them are pretty intelligent but Igorr is just plain idiot.
We just need more good news from you.
More good news from igorr: the rate of growth in the hash rate is slowing down! First, he shows us that mining is profitable now, then he shows us that since the growth in the hash rate is slowing down it will remain profitable! Thanks for all the good news and thanks for helping to pump up the price!
Check the price, it 4 months constantly falls.
More good news from igorr: the rate of growth in the hash rate is slowing down! First, he shows us that mining is profitable now, then he shows us that since the growth in the hash rate is slowing down it will remain profitable! Thanks for all the good news and thanks for helping to pump up the price!
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