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Welcome to Bitcoin's “Trough of Disillusionment”

20 points by StuntPope 9y ago

KasianFranks 9y ago
"All of these bullsht ICO’s, shtcoins and ponzis need to be cleared out, the exact same way pets.com, boo.com and all those other dot bombs had to be cleared out as well." A new wave of high quality ICOs is on deck and as the article points out a slope of enlightenment, an upward curve is on its way. Time to buy.
- AznHisoka 9y ago
  Bear markets last much longer than a few weeks.. think at least 2 years. There is no rush when it comes to waiting it out.
- sverige 9y ago
  Blockchain is interesting technology, but it is not the basis for easy money, since there's no product or service that is in high demand. All of them are ponzis. Bitcoin just lost half of its value. Seriously, this is delusional.
ebbv 9y ago
BitCoin is not useful as a payment method; it's too slow and wasteful (the hardware and energy requirements are absurd) and the transaction fees are too high. BitCoin is not useful as a store of value; the price is incredibly unstable and open to manipulation. BitCoin is not secure; if you're a victim of fraud there's no recourse. There have been so many heists I can't even keep track of them all. It's not private; if your wallet address is ever associated with you, everything you ever did is laid out for all to see. What is it good for? Why do the believers still believe other than they have lots of money tied up in it?
- snissn 9y ago
  > BitCoin is not useful as a payment method; it's too slow and wasteful (the hardware and energy requirements are absurd) and the transaction fees are too high. If you're paying a contractor it's easier and more reliable than paypal and the fees are a fixed amount of money, not a percent like credit card merchants. Plus the lightning network is rolling out. > BitCoin is not useful as a store of value; the price is incredibly unstable and open to manipulation. agreed, currently the case, however there is increasing amount of research in stable coins ( makerdao and basecoin, not tether) > BitCoin is not secure; if you're a victim of fraud there's no recourse. There have been so many heists I can't even keep track of them all. bitcoin has never been hacked. On the contrast there are tons of examples of paypal and banks locking up funds from individuals, no way to do that on bitcoin > It's not private; if your wallet address is ever associated with you, everything you ever did is laid out for all to see. the official client recommends using a new address for each payment you receive and send, also coins like monero exist for full private
- gsich 9y ago
  Why are you capitalizing the "C"? Makes me think that you don't know much about Bitcoin. If you are victim of a fraud, then it's usually your fault.
  - reificator 9y ago
    > Why are you capitalizing the "C"? Makes me think that you don't know much about Bitcoin. I usually don't capitalize the 'S' in Javascript, unless I'm on my phone and it does it for me. Doesn't mean anything other than I like the way it looks with just an uppercase 'J'.
    - gsich 9y ago
      The other way around is just convenience. Lots of people do that. This way requires deliberate (useless) effort to do it. FireFox, ThunderBird, WikiPedia. All wrong and all look ugly, same as 'BitCoin'. It does mean however, that you don't know how to write it correctly. This is why I thought that you don't have much knowledge about it. (directed to the OP). And again, this doesn't apply to the other way around.
      - reificator 9y ago
        Don't know if I agree is all I'm saying, in casual conversation subjective aesthetics don't imply ignorance IMO.

20 points by StuntPope 9y ago

"All of these bullsht ICO’s, shtcoins and ponzis need to be cleared out, the exact same way pets.com, boo.com and all those other dot bombs had to be cleared out as well." A new wave of high quality ICOs is on deck and as the article points out a slope of enlightenment, an upward curve is on its way. Time to buy.

AznHisoka 9y ago
Bear markets last much longer than a few weeks.. think at least 2 years. There is no rush when it comes to waiting it out.
sverige 9y ago
Blockchain is interesting technology, but it is not the basis for easy money, since there's no product or service that is in high demand. All of them are ponzis. Bitcoin just lost half of its value. Seriously, this is delusional.

ebbv 9y ago

BitCoin is not useful as a payment method; it's too slow and wasteful (the hardware and energy requirements are absurd) and the transaction fees are too high. BitCoin is not useful as a store of value; the price is incredibly unstable and open to manipulation. BitCoin is not secure; if you're a victim of fraud there's no recourse. There have been so many heists I can't even keep track of them all. It's not private; if your wallet address is ever associated with you, everything you ever did is laid out for all to see. What is it good for? Why do the believers still believe other than they have lots of money tied up in it?

snissn 9y ago
> BitCoin is not useful as a payment method; it's too slow and wasteful (the hardware and energy requirements are absurd) and the transaction fees are too high. If you're paying a contractor it's easier and more reliable than paypal and the fees are a fixed amount of money, not a percent like credit card merchants. Plus the lightning network is rolling out. > BitCoin is not useful as a store of value; the price is incredibly unstable and open to manipulation. agreed, currently the case, however there is increasing amount of research in stable coins ( makerdao and basecoin, not tether) > BitCoin is not secure; if you're a victim of fraud there's no recourse. There have been so many heists I can't even keep track of them all. bitcoin has never been hacked. On the contrast there are tons of examples of paypal and banks locking up funds from individuals, no way to do that on bitcoin > It's not private; if your wallet address is ever associated with you, everything you ever did is laid out for all to see. the official client recommends using a new address for each payment you receive and send, also coins like monero exist for full private
gsich 9y ago
Why are you capitalizing the "C"? Makes me think that you don't know much about Bitcoin. If you are victim of a fraud, then it's usually your fault.
- reificator 9y ago
  > Why are you capitalizing the "C"? Makes me think that you don't know much about Bitcoin. I usually don't capitalize the 'S' in Javascript, unless I'm on my phone and it does it for me. Doesn't mean anything other than I like the way it looks with just an uppercase 'J'.
  - gsich 9y ago
    The other way around is just convenience. Lots of people do that. This way requires deliberate (useless) effort to do it. FireFox, ThunderBird, WikiPedia. All wrong and all look ugly, same as 'BitCoin'. It does mean however, that you don't know how to write it correctly. This is why I thought that you don't have much knowledge about it. (directed to the OP). And again, this doesn't apply to the other way around.
    - reificator 9y ago
      Don't know if I agree is all I'm saying, in casual conversation subjective aesthetics don't imply ignorance IMO.