Look at these idiots:
http://www.cnbc.com/id/100815062#_gus
The kind of fools the Foundation serve...
Topic: We're in a bear market... (Read 1110 times)
While I'm not convinced, we very well could be seeing the beginning of the end of Bitcoin as a mainstream phenomenon. If you look at what has happened, nearly the whole world has been exposed to Bitcoin via media. There isn't a major company, i.e. eBay, Amazon, Walmart or any other, that is not familiar with Bitcoin. But have we seen any surge in adoption? No. Have we seen any evidence through greater transaction numbers, that tons of new people are flocking to Bitcoin? No?
What we have seen is businesses snubbing Bitcoin and many in the media mocking it altogether. For instance, Google venture choose to invest in Ripple. A still in beta company.
If Bitcoin was going to really gain some mainstream traction, this last couple months would have been it. But that hasen't happened. In fact, the only notable thing that has happened is 1, the government has been cracking down on unlicensed MSB's and 2, big coin holders are dumping their stashes, removing millions from the Bitcoin economy.
Bearish you say? That very well may be an understatement.
Arrogant people here hastily underestimated the influence of SR and gambling for the Bitcoin's success & future...They will be hit hard unless Bitcoin becomes more stealthy - I wish the Foundation will self destruct and Pseudonymous Satoshi's (or even better completely Anonymous guys) take the project from where it stopped further down to real financial revolution & privacy. What we have seen is businesses snubbing Bitcoin and many in the media mocking it altogether. For instance, Google venture choose to invest in Ripple. A still in beta company.
If Bitcoin was going to really gain some mainstream traction, this last couple months would have been it. But that hasen't happened. In fact, the only notable thing that has happened is 1, the government has been cracking down on unlicensed MSB's and 2, big coin holders are dumping their stashes, removing millions from the Bitcoin economy. Bearish you say? That very well may be an understatement.
Indeed... That smell bad for Bitcoin. I think that's the general feeling that is in the air right now.
Don't worry... being in Quebec, with all the taxes and fees (over 50% of your income if you add up every taxes here and there), revelations about the corruption in the construction industry (Charbonneau Commission), uncertain economic future, I can only agree with you
Quote
Funny how op thinks punishing tax evaders is legitimate.
Don't worry... being in Quebec, with all the taxes and fees (over 50% of your income if you add up every taxes here and there), revelations about the corruption in the construction industry (Charbonneau Commission), uncertain economic future, I can only agree with you
Funny how op thinks punishing tax evaders is legitimate.
Always leave it to BitcoinAshley to call out our brainwashing and preconceptions about reality.
While I'm not convinced, we very well could be seeing the beginning of the end of Bitcoin as a mainstream phenomenon. If you look at what has happened, nearly the whole world has been exposed to Bitcoin via media. There isn't a major company, i.e. eBay, Amazon, Walmart or any other, that is not familiar with Bitcoin. But have we seen any surge in adoption? No. Have we seen any evidence through greater transaction numbers, that tons of new people are flocking to Bitcoin? No?
What we have seen is businesses snubbing Bitcoin and many in the media mocking it altogether. For instance, Google venture choose to invest in Ripple. A still in beta company. If Bitcoin was going to really gain some mainstream traction, this last couple months would have been it. But that hasen't happened. In fact, the only notable thing that has happened is 1, the government has been cracking down on unlicensed MSB's and 2, big coin holders are dumping their stashes, removing millions from the Bitcoin economy.
Bearish you say? That very well may be an understatement.
What we have seen is businesses snubbing Bitcoin and many in the media mocking it altogether. For instance, Google venture choose to invest in Ripple. A still in beta company.
If Bitcoin was going to really gain some mainstream traction, this last couple months would have been it. But that hasen't happened. In fact, the only notable thing that has happened is 1, the government has been cracking down on unlicensed MSB's and 2, big coin holders are dumping their stashes, removing millions from the Bitcoin economy. Bearish you say? That very well may be an understatement.
Funny how op thinks punishing tax evaders is legitimate.
So , if we're in a bear market , how much for a 4 y.o. panda?
Sorry ... not grizzly enough for me
And what with that black and white suit man ? Soooo NOT cool ...
So , if we're in a bear market , how much for a 4 y.o. panda?
What will drive the price up now?
Bitcoin Foundation's agenda is unfortunately different - they spend resources by trying to make Bitcoin politically correct.
It seems every weekend we are in a bear market, I think this will be the 3rd week
What will drive the price up now?
1) Zerocoin like anonymity adoption2) Embeded P2P exchange infrastructure
3) The tough one - hard fork to a smaller blockchain -> faster transactions
Bitcoin Foundation's agenda is unfortunately different - they spend resources by trying to make Bitcoin politically correct.
Sorry guys, but htere is Ripple if I wanna play by the book. The whole idea was different back in the day.
So unless Bitcoin becomes more stealth & robust I expect it to decline until Ripple or an alt will take over.
I mean seriously - why the hell not choose LTC if I am a merchant?
So, I thought that prices would just slowly raise up after having "slept" at 120~130$, but it looks like we are in a big depression. Pretty much like in 2011.
Before the 200+$ peak, there was great expectation, opportunities, lot of good news, media attention picking up, perfect timing of events. That was followed by a correction as the prices just raised too quickly. Now however, it seems that people are just loosing faith in Bitcoins. Go everywhere and you can see that there's general uncertainty over the future of Bitcoins.
The biggest problem now is how people perceive all of this U.S. regulations. The regulations are mainly for avoiding money laundering. The takedowns did have some legitimacy, for example, the Liberty Reserve was well known for tax evasion plots. However, we are currently now in a void. The U.S. would really need some big BTC exchange, who play along with the U.S. rules, to give more confidence.
Now, the world being what it is, for sure, a lot of people probably did invest in Bitcoins with questionable motives. Big investors, wanting to hide some money away. And there's probably a few cashing out while they still can.
But even for the 'good guys' out there, for sure there are other investors that are uncertain about Bitcoins future. So they pull out. That in turn drive the price lower, leading to more uncertainties, more doubts, and a general medium/long term downtrend. That's basically a bear market.
What will drive the price up now? For a start, would need clearing uncertainties with the U.S. regulations (more precisely how people perceive it). It would need some good news also, like big company accepting Bitcoins (read Amazon, Paypal, WalMart, etc.). The last one is not a joke, remember who actually killed the HD-DVD in favour of the Blu-Ray... Well, not 'killed', but tipped the balance
So, the future really is uncertain... It may dip to nothingness, or may well flip side and go up to 1000$ in a few months. 'Satoshi Nakamoto' did invent a really great concept, and he was able to forecast a lot of things when he implemented the blockchain, but he surely could not have predicted how the very basic human nature would drive it's project
Well, it's just my theory... My 2 cents worth (my 0.0002BTC worth!).
Before the 200+$ peak, there was great expectation, opportunities, lot of good news, media attention picking up, perfect timing of events. That was followed by a correction as the prices just raised too quickly. Now however, it seems that people are just loosing faith in Bitcoins. Go everywhere and you can see that there's general uncertainty over the future of Bitcoins.
The biggest problem now is how people perceive all of this U.S. regulations. The regulations are mainly for avoiding money laundering. The takedowns did have some legitimacy, for example, the Liberty Reserve was well known for tax evasion plots. However, we are currently now in a void. The U.S. would really need some big BTC exchange, who play along with the U.S. rules, to give more confidence.
Now, the world being what it is, for sure, a lot of people probably did invest in Bitcoins with questionable motives. Big investors, wanting to hide some money away. And there's probably a few cashing out while they still can.
But even for the 'good guys' out there, for sure there are other investors that are uncertain about Bitcoins future. So they pull out. That in turn drive the price lower, leading to more uncertainties, more doubts, and a general medium/long term downtrend. That's basically a bear market.
What will drive the price up now? For a start, would need clearing uncertainties with the U.S. regulations (more precisely how people perceive it). It would need some good news also, like big company accepting Bitcoins (read Amazon, Paypal, WalMart, etc.). The last one is not a joke, remember who actually killed the HD-DVD in favour of the Blu-Ray... Well, not 'killed', but tipped the balance
So, the future really is uncertain... It may dip to nothingness, or may well flip side and go up to 1000$ in a few months. 'Satoshi Nakamoto' did invent a really great concept, and he was able to forecast a lot of things when he implemented the blockchain, but he surely could not have predicted how the very basic human nature would drive it's project
Well, it's just my theory... My 2 cents worth (my 0.0002BTC worth!).
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