Daily reminder that this shit is crashing down this time

Daily reminder that this shit is crashing down this time.

>Everyone nos knows its POS with high fees and long transaction times
>Worst volume in $ since November
>No one is pumping this shit to 10k, that much is clear

Other urls found in this thread:

99bitcoins.com/bitcoinobituaries/
dedi.jochen-hoenicke.de/queue/#2h

Just wait until LN gets launched. Then we are going to the moon.

>Just wait until LN gets launched. Then we are going to the moon.
I've heard this since before Mt. Gox. When will it actually come though?

>Being this deluded

LN is vaporware, and even if it wasnt it is absolute shit tier solutuion.

Kill yourself Shariablue, your lies have no power here.

3-4k would be sufficient to get rid of it for good

>this time

>If Dot-Com Mania Is Any Guide.

It isn't. Next.

Get a load of this fucking bubble though guys, correction imminent

>comparison to dotcom
WHOA
ITS LIKE NOONE HAS EVER THOUGHT OF THIS BEFORE

teeka said wall st money is coming, eat shit goy

don't care, day trading still made me over $3,000 last week

Someone needs to start SuperMoonMagnetCoin

With all this talk of going to the moon, it would be a lot easier to have the moon come to us.

Source says wall street money coming soon....

It kinda sacred me of what Veeky Forums truly is.

>he doubts /ourguy/
$100k by 2020

>the supply of other shit copycat coins somehow makes Bitcoin less rare

lol these fucking articles

>the supply of other shit copycat coins somehow makes Bitcoin less rare
I don't think they do any research at all other then maybe ~30 minutes of google

post your arguments I bet you don't have any

>lightning network
>launched
BWAHAHAHAHHAHHHAHAHAAAA!!!!

The article is right on multiple levels. The problem with it is that it doesn't go far enough...


1. Every time a new shitcoin is issued, it draws investors away from the semi-legitimate coins. Since there is only a limited number of total investors who would ever be interested in cryto's, each new coin dilutes the investor pool of all the others.

2. Every new shitcoin that comes out also dilutes the psychological value of all of the other coins. So instead of 1 or 3 coins that offer a legitimate alternative to traditional financial streams, all of the new coins just remind people that you can just make up a coin anytime you want, which highlights the fact that none of the coins have an intrinsic value.

Where he fails to go far enough....

3. What he didn't point out (at least as far as I saw), was that once bitcoin prices drop below $5000, it's going to be an avalanche of decreasing prices. The reason for this is that the cost of mining and verifying transactions determines how many are willing to participate in the process. So, if the price were to drop to 2500, for example, operators of nodes would no longer be willing to operate, since they would have to do so at an extreme loss. When this happens, the time to verify transactions will skyrocket, which will also slow down the time it takes to compete speculative trades. And once this happens, it's game over because traders are trapped in their trades with no way out.

As far as it being a bubble, of course it's a bubble.

A serious question for everyone: Take all the people you know who hold bitcoin...

A) What percentage of them use their bitcoin to make purchases on a regular basis?

B) What percentage are simply holding in the hopes the price will go up; or trading them on the market for the purpose of making money on price swings?

I suspect the answer to A is "very few" and the answer to B is "most of them"

If this is the case, then bitcoin, as it exists in the market now, has no utility; and all of the price is based on the speculative value.

And when this happens, you're in a bubble.

>1. Every time a new shitcoin is issued, it draws investors away from the semi-legitimate coins. Since there is only a limited number of total investors who would ever be interested in cryto's, each new coin dilutes the investor pool of all the others.
>2. Every new shitcoin that comes out also dilutes the psychological value of all of the other coins. So instead of 1 or 3 coins that offer a legitimate alternative to traditional financial streams, all of the new coins just remind people that you can just make up a coin anytime you want, which highlights the fact that none of the coins have an intrinsic value.

replace the words 'shitcoin' and 'coins' with 'stocks' then kill yourself you fucking faggot, you really are retarded if you think either of these are legitimate points against crypto

>Bloomberg

Lol

>"Well, bitcoin is finally dead, this will be the end of bitcoin" says increasingly nervous man for 254th time this decade.
99bitcoins.com/bitcoinobituaries/

Then you should try to counter with argument and logic instead of insults.

The world population is 7.6 billion.

How many of these people do you think will ever buy a crypto?

Keep in mind that 25% of these people still have no electricity; and 59% of the world still has no internet access.

>Why Bitcoin can’t be a currency” – The Underground Economist | $0.23
>“Why bitcoin will fail” – Apenwarr | $3.12
>“So, That’s the End of Bitcoin Then” – Forbes | $15.15
>“Why Bitcoin Will Fail as a Currency” – The Calculating Investor | $14.01
>“The Bitcoin Is Dying. Whatever.” – Gizmodo Australia | $10.95
>“The Rise and Fall of Bitcoin” – Wired | $2.37
>“Wired, Tired, Expired for 2012: EXPIRED – Bitcoin” – Wired | $13.30
>“Beware of This Insidious New Currency Scam” – Salon | $117.06
>“Game Over, Bitcoin. Where Is The Next Human-based Digital Currency?” – OUI Share | $122.30
>“Bitcoin Sees the Grim Reaper” – NY Mag | $105.70
>“Why Bitcoin will fail” – DailyPaul.com | $105.39
>“The SEC Shows Why Bitcoin Is Doomed” – Bloomberg View | $93.57
>“Bitcoin Is A Joke” – Business Insider | $433.57
>“Bitcoin Will Crash To $10 By Mid-2014” – Business Insider | $887.63
>“An early obituary for bitcoin” – Reuters | $821.79
>"Bitcoin revealed: a Ponzi scheme for redistributing wealth from one libertarian to another” – The Washington Post | $182.00
>“Is this the end of Bitcoin?” – BizNews.com | $228.07
>“Was 2014 The Death March for Bitcoin?” – PYMNTS.com | $315.81
>“Bitcoin is (Nearly) All Dead” – Acton | $325.60
>“Why Bitcoin’s male domination will be its downfall” – Fusion | $235.13
>“Why Apple Pay And Dollars Are Killing Bitcoin” – Forbes | $233.01
>“Performing an Autopsy on the Bitcoin” – The Street | $409.05

There was a report released by JP Morgan (I think) which noted that less than 6 billion dollars of fiat increased the crypto market cap by 300b

umb Investment Of The Week: Bitcoin Investment Trust” – Seeking Alpha | $408.3
>“R.I.P. Bitcoin. It’s time to move on.” – Washington Post | $382.00
>“Bitcoin Refuses to Just Die Already” – Gizomdo | $1185.01
>“Bitcoin passes $1,000 but only number that matters is zero” – Financial Times | $1034.34
>“Bitcoin is a bubble. It will burst on Monday 12 December 2016” – Linkdin | $771.23
>“The Bitcoin Bros Have Lost” – Deal Breaker | $577.58
>“Bitcoins – Are You Kidding Me?” – Seeking Alpha | $1938.7
>“Bitcoin will never be a financial mainstay” – Finance Feeds | $1,184.47
>“What is a Good Price For Bitcoin and Other Cryptocurrencies? Zero.” – Jonathan Harris | $2262.83
>"Stay away from bitcoin — it’s complete garbage” – MarketWatch | $2345.56
>״Why Investors Should Ignore the Cryptocurrency Hype״ – Investopedia | $2,594.21
>“Bitcoin Just Surged Over $4000 and Is Near Biggest Financial Crash in 400 Years” – The Street | $4061.54
>“Gartman: Avoid the bitcoin boom” – CNBC | $4,046.99
>“A Bitcoin Is Worth $4,000–Why You Probably Should Not Own One” – Forbes | $4,179.97
>“Bitcoin’s price hit $5,000 last week. It’s still a dumb investment” – LATimes | $4,363.02
>“Why China Crushed Bitcoin” – Forbes | $4,450.15
>“Virtual Currencies are Not Money!” – Linkedin | $5,943.06
>“Jamie Dimon says if you’re ‘stupid’ enough to buy bitcoin, you’ll pay the price one day” – CNBC | $5,128.05
>“Bitcoin ‘Ought to Be Outlawed,’ Nobel Prize Winner Stiglitz Says” – Bloomberg | $9,972.67
>“Time to sell your Bitcoins: Cryptocurrencies success a bubble, Central bankers around the world warn” – Financial Express | $9,096.37

Your first point is retarded.

Just because lots of shitcoins get issued it doesn't mean people buy them in any meaningful amount of volume.

Plus, less than 0.5% of the global population owns cryptocurrency. It would still be incredibly niche even if quadruple the number of people bought in.

>How many of these people do you think will ever buy a crypto?

replace the word 'crypto' with 'stock' then kill yourself you fucking faggot, you really are retarded if you think this is a legitimate point against crypto.

the world evolves, 30 years ago 90% of the world didn't have internet access. times change you mong

Hey look it’s a faggot.

please help me short this

Of course, because "market cap" is a myth when used in thinly traded markets.

For example.... there are websites that will allow you to create your own crypto.

So let's say you create "MyCoin".

1. You set it for a total supply of 100 million coins.

2. You then have a friend buy 1 coin for $10.

3. What would be your market cap? It would be $1 billion. But does that mean that you really now have a billion dollars? No, because the real total value of your coin isn't the market cap. Market caps is simply an aggregate of what the total value would be IF all of the coins were sold at the same price.

But they wouldn't be sold at the same price, that's the point.

it is a myth in ALL markets dumbass

>le bitcoin integrated into a circuit board

How fucking cringe is that pic though?

That is fucking stupid, people are holding bitcoin to trade other currencies. If anything a shitload of new currencies will just make bitcoin more popular.

this guy you responded to is one of the dumbest retards on here. he thinks hes a genius but his comments are soooo basic

Obviously. It is also a myth in the stock market.

Which is why it is important to never look at market cap as a true indicator of the total value of a publicly traded company or a crypto.

>pajeet buy flower
>sell to brother 1/1000th of a tulip for 1000 gelt
>market suddenly make tulip billions

Yes, the sale is coming.

Maybe. But only if a large number of the other coins didn't go to zero.

Again, if you have a fixed number of people investing in cryptos, they have a total amount they are able to invest.

If they invest in some shit coin and lose it all, that is money that can't invest in bitcoin or other cryptos.

The proliferation of bad coin (something like 1500 of them as of now), basically rob the investors in the pool of the capital they would otherwise have to invest in the good coins.

Sure, the people selling the coin to the suckers clean up, and may put their profit into bitcoin or the other top tiered coin, but once the suckers are cleaned out, they're out of the game.

This means that as more and more shitcoin come out to steal peoples money, you have an ever shrinking pool of potential investors.

And that doesn't even touch on the fact that every time a trader gets ripped off investing in a shit coin, the reputation of ALL coins is harmed when they start complaining to their friends and family about how much of a racket it is.

You are actually stupid if you DON'T believe the correction will come to pick related in the future. The wast majority of the human population will die off as the ruling + the upper class decides to stop funding and contributing to the survival of the poor.

The day the poor posses a real threat to the survival of the planet due to immense population growth, pollution etc. They will not survive for long. The ruling class will make sure of it.

bitcoin will be 70 trillion in 2019
screencap this

sounds a bit much for one bitcoin

They’ve been making these articles since 2013

It's about to tank, the order books get get filled in slow motion on big exchanges. Hardly any trades.A lot of cash exit to flat. Definitely going south.

>If Dot-Com mania is any guide
good thing it fucking isn't

as soon as antibiotics stop working this bubble will burst

... kinda scared about tether/bitfinex ... i highly doubt it'll be around much longer once the us gov. have them by the balls ... don't tell me the us gives a shit where you are - they just cut a deal and the country XY hands you over like a bag ...

but even in that event i can't see it droping lower than 2000 something

>high fees and long transaction times
dedi.jochen-hoenicke.de/queue/#2h
Quit living in the past

the ruling class will have their heads on the end of a pike if that happens

They need to show volume by coin and not dollars.

>high fees and long transaction times
That meme is over. People are sending BTC for less than a dollar now that Roger ran out of spam money.
>Worst volume in $ since November
Are you high? We have had above average volume since we hit bottom.

>No one is using coin so transactions are faster and fees are lower
>Obviously this means that they will stay that way once the normies start using it again
Hmmmmm