Crypto currency in a death spiral..

Ok. I'll play that game too.

Redbox comes out and clearly is superior to any video stores at that time. Game over according to your hypothesis. Redbox

is king.

Except Redbox GOT SUPERSEDED by something better like online movie downloads.

Just like BTC will GET SUPERSEDED by a govt owned coins and by in the same bygone era as Redbox.

I mean nutjob is extreme considering it is on the verge of coming to pass. Telling anyone of any common sense that the bible predicted this in about 70 AD.

NEXT...

They want to stay in their caves away from reality.

I'm not making any bold statement AT ALL in saying that the govt's want more and more monitoring

Every terrorist action brings about another layer of security. Like the shooting in the Florida schools pretty soon you will need

3 forms of ID and a facial recog scan and breath analyzer just to get into a school anymore.

Airports are requiring passports for travel IN the US to other US destinations.

In '95, I didnt even need a drivers license to get on a plane until the nutjob(Vanzack) blew up the fed building in OKC.

Pretty sure that is over the line.

Thats ok, Jesus will punish you.

Look - the govt could make anything illegal at any time and that would hurt the value.

Will they do it?  That is the question.  Lots of people think they wont, lots think they will.

But in the meantime.... I bought my first bitcoin at 30 bucks.  You think I am sweating?  Please.

The Federal Reserve being blamed for JFK I dont know, maybe the CIA or maybe inside his own party or maybe the military since he was not going along with Vietnam. Too much Ron Paul can make even a rational person go crazy.

The United States Government cannot "crush" Bitcoin, that would be what's known as Antitrust. They don't have the leverage to obliterate world currency values in Europe, Asia, Africa, Australia....

There is correlation between the two.

Regulate why not. Welcome that here in the United States.

They dont need to "crush" anything. The govts will just make businesses accept only one form of payment which is their coin so

they can get their tax dollars. You can still have BTC and other alt coins if you think they are a store of value. Except there will

be no way to get them back to a base currency and no way to purchase anything(legally) with them.

https://metro.co.uk/2018/01/25/britain-ban-bitcoin-theresa-may-hints-cryptocurrency-clampdown-7260280/

There have been a couple cases of antitrust brought against the USPS and were defeated. So..the govt watches its own back

and will not let a competitor to the dollar emerge, at least without a fight.

What is the value of Bitcoin based on?

This is so hilarious and in my opinion shows the stupidity of human beings.

The price/value is based on the market? But what are the participants in the market basing it on? There are no underlying fundamentals to base it off. So what are the participants basing it off?

Essentially it is nothing more than participants valuing it based on nothing but "because i say so". Essentially what side of the bed they came off that day.

Why does one need Bitcoin? They dont. There are 1300+ other crypto's and growing at a rapid rate. There are no barriers to entry.

Theortically, we could all get together and develop our own coin and call it coverscoin. Then artifically ramp it up to a price based on nothing but because we say so and go and buy a house with it because the seller of the house has also bought into our delusion that it is worth the price based "because we say so". 

Again, why does one need BITCOIN?

The ONLY 

Gold and precious metals are COMMODITIES.

For example with Gold, there are numerous demands for gold itself. 

Gold can be used for jewelery, excellent wire for electricity, material for filling cavaties, used for space crafts etc etc.

This is what gives it a demand and hence a price/value. Very simple.

The ONLY possible thing i can see Bitcoin having value is if itself being some sort of status symbol. That is, hey look i own bitcoin. Something that is gives people a status symbol. 

Or as i said earlier if a drug company finds a cure for a disease and the manufacturer ONLY accepts Bitcoin as a form of payment, no other crypto.

Please dont mistake this for bagging bitcoin and other cryptos as a currency. I think it will be awesome as long as there is security, insurance etc etc which i am sure they will work out. But as a form of value, it is sheer utter nonsense.

IMO, i think the big boys know this and are just taking everyone for a ride.

The thing about BTC is that the market share is continuing to plummet because other alt coins have diluted it.

In essence you ARE "printing" more BTC everytime another alt coin comes to market and is stealing marketshare that would have purchased BTC like in the early days when that's all there was.

So...we can say that deflationary pressures are hitting BTC and have been for about 3 year years.

If that werent enough reasons to cash out BTC then we have this to contend with. This is just ___one group__ of hackers using brute force methods on getting keys which is totally different than what you read about on the news. This is a new exploit and when more and more groups find this out they will also exploit like LBC.

https://motherboard.vice.com/en_us/article/nzpv8m/the-large-bitcoin-collider-is-generating-trillions-of-keys-and-breaking-into-wallets

"The LBC has been working for just under a year. So far, Rico claims, the project has generated over 3,000 trillion private keys and checked them against existing bitcoin addresses to see if they work, and has found three that do and contain bitcoin."

Rostos - please read this again.

There is a limited qty (21m).  It is decentralized.

There is no other currency / commodity that fits these two criteria.

That is the value.  And as Detox says - some people see it - and some dont - and that is fine.

The bitcoin "dominance" position you make is not debatable.  BTC has gone from roughly 80% crypto dominant to 38% today in the past year.

But I am not seeing that this is bad, or a reflection on why you shouldnt buy BTC.  If a rising tide raises all ships, why cant the whole cryptocurrency ecosystem go up, while BTC dominance goes down - and BTC still goes way up in value?

“The thing about BTC is that the market share is continuing to plummet because other alt coins have diluted it.

In essence you ARE "printing" more BTC everytime another alt coin comes to market and is stealing marketshare that would have purchased BTC like in the early days when that's all there was.”

Feb 2017 BTC was $1,000 

Feb 2018 BTC is $10,000 

Feb 2017 BTC $1k at 80% dominance

Feb 2018 BTC $10k at 38% dominance