Why The Bitcoin Price Going Higher Means Bitcoin Will Fail

ATguy

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Quote from: Currency Of Light on December 03, 2015, 12:12:17 PM

- In the event of a global economic collapse, currency values will decline, so will Bitcoin (Bitcoin is not immune from an economic collapse)
- Bitcoin value is not the actual Bitcoin value (you can estimate that even with 10,000 sold or dumped, the price would drop significantly
- Bitcoin money is fiat money in disguise, actually it is helping the one world government rather than acting in any real libertarian fashion

In the event of a global economic collapse you can still use Bitcoins because all Bitcoins are ready to be spent anytime, but you cant use fiat anymore unless you hyperinflate it (basically most fiat holdings removed). And it is because fiat operates on fraction reserve basis, it is not something real where each unit of existing currency can be spend anytime.

Mickeyb

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Move On !!!!!!

OP as much as I respect your point of view, I think that 50 different people out there can come out and write 50 different theories just like you had. And you know what, all of the 50 people can be dead wrong at the end. Will Bitcoin end up successful and who will it serves will decide its users, market and demand. Not me or you with different theories.

Cheers!

Kprawn

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I think, we have to rid ourselves of the tendancy to expect that Bitcoin is the cure for everything. It is a technology that was introduced as a alternative to the current centralized financial system. It has a token

that function as a currency, but it has many other functions too, as part of the Blockchain. To expect freebies from early adopters, because you think they owe other late adopters something, has to stop. They

were lucky and/or bold enough to take a risk, and it paid off for them. Bitcoin will not fail, because these people are not willing to share their profits. Roll Eyes

teddy5145

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Quote from: Amph on December 04, 2015, 03:35:12 AM

Quote from: teddy5145 on December 04, 2015, 03:31:13 AM

Quote from: Amph on December 04, 2015, 03:22:07 AM

the only fail i can see is that there will be more centralization in the miners sectors, aside from tht a higher value will be always beneficial for bitcoin as long as it was build from demand and not by manipulators

The price of bitcoin has stabilize around 350-360 these past few weeks
Do you think that happen because of the manipulators or it's because of the demand ?
Im thinking of buying few bitcoins but i don't know if it's the right time or not
I don't want to deal with a case of bitcoin price going down right after i buy it Roll Eyes

It's a waste of money Tongue

i think that the prior rise, the pump to 500 was more genuine there was some demand + manipulators, the last mini pump, instead it's only made by manipulators

manipulators are greedy and want to increase their stash always, at eveyr opportunity, so they keep doing those mini pump in the hope for another demand to help them reaching a certain higher value

I see, if that's the case i think i will buy some coins in hoping to get some nice profit when the manipulator pumped the price Wink

And not forget about the halving also Tongue

Thank you very much for your explanation

cryptoclone.com

newbie

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The purpose of bitcoin is to decentralize. That was satoshis claimed purpose of the coin. The price rising will not fail bitcoin, it will only bring more interest to consumers and traders, making it more successful.

Amph

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Quote from: teddy5145 on December 04, 2015, 03:31:13 AM

Quote from: Amph on December 04, 2015, 03:22:07 AM

the only fail i can see is that there will be more centralization in the miners sectors, aside from tht a higher value will be always beneficial for bitcoin as long as it was build from demand and not by manipulators

The price of bitcoin has stabilize around 350-360 these past few weeks
Do you think that happen because of the manipulators or it's because of the demand ?
Im thinking of buying few bitcoins but i don't know if it's the right time or not
I don't want to deal with a case of bitcoin price going down right after i buy it Roll Eyes

It's a waste of money Tongue

i think that the prior rise, the pump to 500 was more genuine there was some demand + manipulators, the last mini pump, instead it's only made by manipulators

manipulators are greedy and want to increase their stash always, at every opportunity, so they keep doing those mini pump in the hope for another demand to help them reaching a certain higher value

teddy5145

hero member

Activity: 714

Merit: 528

Quote from: Amph on December 04, 2015, 03:22:07 AM

the only fail i can see is that there will be more centralization in the miners sectors, aside from tht a higher value will be always beneficial for bitcoin as long as it was build from demand and not by manipulators

The price of bitcoin has stabilize around 350-360 these past few weeks
Do you think that happen because of the manipulators or it's because of the demand ?
Im thinking of buying few bitcoins but i don't know if it's the right time or not
I don't want to deal with a case of bitcoin price going down right after i buy it Roll Eyes

It's a waste of money Tongue

yoona

sr. member

Activity: 493

Merit: 250

Live by your own rules

I think so, big holder with thousands bitcoin ready to make a heavy dump next month. We will see a stable price in a couple weeks then fall into the black hole.
This topic must be in speculation section?

Amph

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the only fail i can see is that there will be more centralization in the miners sectors, aside from that, a higher value will be always beneficial for bitcoin as long as it was build from demand and not by manipulators

nejibens

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I don't thin that if the Bitcoin price increase means that bitcoin will fail because the price increased already in the past

Hellacopter

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I don't think this is really a fact, because the Bitcoin's price already increased in the past more than once and it's till now the most successful crypto currency worldwide. I think that Bitcoin need the price stability more than going higher and i think the price will be stable reaching some point in the near future

BellaBitBit

hero member

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Bitcoin is about a new transfer of wealth after eons of money being in the hands of only a few. I don't see Bitcoin being affected by hoarders considering how far only one coin can be broken down. The vision was genius.

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: jonald_fyookball on December 03, 2015, 03:54:04 PM

price going higher means there's more demand.

more demand for bitcoin means more success.

my logic is undeniable.

I would just extend this furthermore: "more demand for bitcoin means more success, which means more publicity, which means more demand .. etc etc"
It's very well known that it's the spikes in price that attract new users and investors the best, you just need to push it so that it gains momentum.
OP's logic is flawed.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

price going higher means there's more demand.

more demand for bitcoin means more success.

my logic is undeniable.

shorena

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No I dont escrow anymore.

Quote from: Currency Of Light on December 03, 2015, 01:34:27 PM

-snip-
if you compare for example the deaths casued by Adolf Hitler/WW2 and compare deaths per year each year (around 6 million) as a result of poverty you will start to realise that the economy is the problem and not the unit of transaction.
-snip-

You earned a godwin point.

brg444

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Bitcoin replaces central, not commercial, banks

Quote from: franky1 on December 03, 2015, 01:52:26 PM

the amount of people HOARDING. are not 50% of the community, not 20% not 10% but a small minority.

on just one day (november 5th) 6% of the entire bitcoin market cap moved.
https://blockchain.info/charts/estimated-transaction-volume-usd?timespan=60days

again.. in JUST 1 day!! so imagine how much funds moved in 7 years..

That is absolutely false. Over 75% of coins in circulation are hoarded.

countryfree

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Your country may be your worst enemy

Quote from: Currency Of Light on December 03, 2015, 12:12:17 PM

We know one of two things, in the beginning;

- Bitcoin was created as a solution to poverty by allowing people to mine them and thus all have a relative equal share of global equity and have personal sovereignty

or

- Bitcoin was created with a sinister function by a group of corporate thieves designed to extract money from other countries of the world to pay off a nations debt

I have been mining Bitcoin for two years,

I'm always amazed when I see a newbie saying he's been mining for 2 years. I never did. I tried once but my computer wasn't up to the task.
Sorry, but both your starting assertions are wrong. Remember that BTC has already been more than 3 times what it's worth now, and it didn't fail. After more than 5 years, I can't imagine BTC failing, unless it is replaced by something better.

AgentofCoin

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Quote from: Currency Of Light on December 03, 2015, 12:12:17 PM

...
or
...

Or, I stopped reading after your two options proposed,
since you obviously don't know what you are yammering about.

Slark

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Quote from: Currency Of Light on December 03, 2015, 12:12:17 PM

We know one of two things, in the beginning;

- Bitcoin was created as a solution to poverty by allowing people to mine them and thus all have a relative equal share of global equity and have personal sovereignty

or

- Bitcoin was created with a sinister function by a group of corporate thieves designed to extract money from other countries of the world to pay off a nations debt
-snip-

There is third possibility - neither of that you mentioned is true. Because:

1.Bitcoin was never created as tool to prevent poverty. It is not possible to for anyone to create society without poverty in the first place.
Even if you initially give out money or assets to people, after some time, individuals with better plan or ability to manage their money will gather significant number of wealth in their hands.

2. There is no one proof that confirms that theory. Every known fact about bitcoin contradicts this theory so far.

franky1

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bitcoin being hoarded??

more and more transactions are happening every day
https://blockchain.info/charts/n-transactions?timespan=all

as for saying the bitcoin creator 'satoshi' still owns 1million bitcoins.. that has been disproved for many reasons
1. hal finney for example and several other people were mining in 2009, thus satoshi's cut was far below 1mill
2. bitcoin-qt v0.1+ had bugs and those involved in developing new versions kept changing bitcoin code and wallet protection methods.. INCLUDING how privkeys were held and dealt with.. meaning coins on old addresses were lost.

as for people afraid to give away.
i have given over 100 btc. and over 13000 litecoins.. gavin andresen has given many hundreds of bitcoins.
andreas antanopolis gets paid in bitcoins and buys things in bitcoins.

the amount of people HOARDING. are not 50% of the community, not 20% not 10% but a small minority.

on just one day (november 5th) 6% of the entire bitcoin market cap moved.
https://blockchain.info/charts/estimated-transaction-volume-usd?timespan=60days

again.. in JUST 1 day!! so imagine how much funds moved in 7 years..

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