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What do people think about Bitcoin?

Discussion in 'BBS Hangout' started by Spooner, Jan 25, 2014.

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What is the fate of Bitcoin?

  1. Currency of the future

    35.4%
  2. Passing Fad

    64.6%
  1. francis 4 prez

    francis 4 prez Contributing Member

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    i might consider getting in bitcoin back around 1500. that would undo most of the recent bubble and then it would be due for a big bounce, whether it turns into a new high or not. it's always weird hearing bitcoin moves talked about. oh it's down 60%. yeah after going up 20000%. or on the flip side, bitcoin is up 20% this week. yeah, after falling from 20000 to 6000. who cares? or bitcoin hasn't done much in the last year. yeah, it was possibly the biggest bubble move ever. you don't just shake that off. 20000 was a fake price like the nasdaq bubble prices were fake prices based purely on speculation. since all the moves are enormous and based purely on emotion, returns will look crazy compared to stocks and simply be based on whatever lucky or unlucky time you got in. you can't analyze it like being in procter and gamble for 10 years or something. you should only be in these things as a call option on them becoming serious currencies/financial transaction tools.
     
  2. peleincubus

    peleincubus Member

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    Yeah well I invested $20,000 in Amazon's IPO and am still holding.

    I f'ing wish I had done something like that
     
    Nook likes this.
  3. Commodore

    Commodore Contributing Member

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    second longest correction in Bitcoin's history

    [​IMG]
     
  4. Space Ghost

    Space Ghost Contributing Member

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    Is this the end? Should i sell for a loss? Or wait for it to go down to zero?
     
  5. Commodore

    Commodore Contributing Member

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    HODL!
     
  6. KingCheetah

    KingCheetah Contributing Member

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    We have some salty bag hodlers in this thread.
     
    moestavern19 likes this.
  7. REEKO_HTOWN

    REEKO_HTOWN I'm Rich Biiiiaaatch!

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    This is great, just around the price I was hoping to jump in at.
     
  8. moestavern19

    moestavern19 Member

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    Logical correction bottoms are still considered to be 1.3k and 4k level based on prior shows of historical support.

    Also note there is a belief that mining profitability break-even point is at 4k and therefore at that point whales jump in to save their bacon. Most likely a meme, but something to be aware of.

    I still feel we are due for months of range-bound PA and slingshot bear/bull posturing before there is a new bull trend established. It is likely that tons of people are waiting to buy at 5k, but institutional is gaining more of a grip every day and retail won't matter as much especially when you're dealing with hedge funds.

    Also keep in mind key Fibonacci retracement levels occur at 38.2%, 61.8% and 161.8%
     
    #4228 moestavern19, Jul 5, 2018
    Last edited: Jul 5, 2018
  9. KingCheetah

    KingCheetah Contributing Member

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    Is Facebook a crypto?
     
    Xerobull likes this.
  10. CCity Zero

    CCity Zero Member

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    Been making a bit on scrl coin... just a side note
     
  11. Daddy Long Legs

    Daddy Long Legs H- Town Harden

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    btc will be worth 30 bucks in about 6 months
     
    moestavern19 likes this.
  12. tallanvor

    tallanvor Contributing Member

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    Watching all these altcoins getting wrecked is pretty awesome. not sure if they die off permanently now or later down the road.
     
  13. Space Ghost

    Space Ghost Contributing Member

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    Yes, its great watching the bad projects get wrecked. But lets not pretend Bitcoin is relevant w/out the other legit projects.
     
  14. tallanvor

    tallanvor Contributing Member

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    what projects do you refer to? Besides building infrastructure on top of bitcoin, everything else seems moronic. This includes every altcoin.
     
  15. Space Ghost

    Space Ghost Contributing Member

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    On the contrary, building everything on Bitcoin is moronic. Bitcoin is genius. Why would you want to build the entire infrastructure surrounding Bitcoin when every moron on the block trying to build on top of Bitcoin and who doesn't understand the philosophy of Bitcoin would eventually alter the core to fit their need.

    Layers. Atomic Swaps. Same difference.
     
  16. tallanvor

    tallanvor Contributing Member

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    You can't alter the core. That's why bitcoin is better than all alts. It's the only one decentralized. All others could be altered by a few select people and always are.
     
  17. Space Ghost

    Space Ghost Contributing Member

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    Bitcoin can be altered. Bitcoin has been altered. Bitcoin is frequently being altered.
    Yes, almost all of them have been changes that have no impact to the network, but the fact is Bitcoin can be changed. What do you think would happen if all of those moronic developers of alt coins started developing on top of Bitcoin? And the ones soon to come? They would eventually influence and persuade to make changes that would be detrimental to the core.
     
  18. Sajan

    Sajan Member

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    I need to pay for some stuff in bitcoin...
    how the heck do i get started??
    so lost.
     
    CCorn likes this.
  19. white lightning

    white lightning Contributing Member

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    That would be $2M + now.
     
  20. tallanvor

    tallanvor Contributing Member

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    not really. Atleast not in any meaningful way. Every hard fork has failed (including BCash). The SegWit2X failure was all the proof you need of this. No altcoin could resist such an attempt to hard fork. Your argument is that those building on top of bitcoin could alter its core. how? nobody has been able to so far. The miners have tried. The developers have tried. Everyone has tried to alter its core and have failed.

    All 'projects' that aren't trying to further the infrastructure of bitcoin are a waste or a scam.


    don't. hodl.
     
    #4240 tallanvor, Aug 13, 2018
    Last edited: Aug 13, 2018

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