Bitcoin crashes over 25% in 24 hours, under $180

Post by bdcravens » Wed, Jan 14, 2015, 8:34 AM UTC

xorcist wrote: post #15

sanswork wrote: post #5

Not really surprising. 2014 was meant to be the year of bitcoin and it flopped as far as the general public was concerned. Bitcoin picked up some more merchants but they almost universally saw disappointing sales or dramatic drop offs(Overstock the poster child which at one point was claiming serious expectations of $15-20m in bitcoin sales ended up with a 5th of the lower end of their claim). Mining companies are cl…

"Was meant to be" amounts to your own view. The software isn't even called 1.0 yet, and the core developers all say the important applications are a couple of years away. Yes, Bitcoin was probably hurt by the mania surrounding $1000. Had it gone to $180 from $30, without the spike, there would be calls of tulip mania instead. Is it too early to build applications on top of Bitcoin? No, I don't think so, some wants to…

Post by yAnonymous » Wed, Jan 14, 2015, 8:39 AM UTC

Post by shittyanalogy » Wed, Jan 14, 2015, 8:39 AM UTC

olalonde wrote: post #26

tribaal wrote: post #10

Yeah, as much as I like the concept of bitcoin (and the blockchain), I don't see adoption becoming anything more than anecdotal. No interest rate, and you have to secure it yourself? No thanks. My "big bad bank" guarantees me at least a small interest in saving money, and if my card is stolen, I get a new one in 24 hours and all transactions are cancelled. I'm happy to pay some transaction fees ("extortion!") to get…

Although Bitcoin is often marketed as such, it doesn't necessarily compete with banks. I personally see it as a currency which competes with other currencies. It's a bit like paper cash except that it can be stored digitally. I don't see what would prevent "big bad banks" (although unlikely) from adopting BTC as one of the many currencies they support and offer all the protections and services they offer with other c…

Post by tribaal » Wed, Jan 14, 2015, 8:43 AM UTC

olalonde wrote: post #26

tribaal wrote: post #10

Yeah, as much as I like the concept of bitcoin (and the blockchain), I don't see adoption becoming anything more than anecdotal. No interest rate, and you have to secure it yourself? No thanks. My "big bad bank" guarantees me at least a small interest in saving money, and if my card is stolen, I get a new one in 24 hours and all transactions are cancelled. I'm happy to pay some transaction fees ("extortion!") to get…

Although Bitcoin is often marketed as such, it doesn't necessarily compete with banks. I personally see it as a currency which competes with other currencies. It's a bit like paper cash except that it can be stored digitally. I don't see what would prevent "big bad banks" (although unlikely) from adopting BTC as one of the many currencies they support and offer all the protections and services they offer with other c…

Post by sprobertson » Wed, Jan 14, 2015, 8:43 AM UTC

yAnonymous wrote: post #33

If people actually started using it as a currency instead of only using it to trade for other currencies, it would be more stable.