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BITCOIN FAILED !!!
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You are currently reading a thread in /biz/ - Business & Finance

Thread replies: 44
Thread images: 8
Are you coping NOW you shilling pieces of shit?

>Senior bitcoin developer says currency 'failed experiment'

>Mike Hearn, a longtime senior developer on bitcoin and the former chair of the bitcoin foundation’s law and policy committee, announced in a blogpost that he would be selling his coins and quitting development on the project. “Despite knowing that bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly,” he wrote.

- http://www.theguardian.com/technology/2016/jan/15/mike-hearn-senior-bitcoin-developer-says-currency-failed-experiment
>>
What one man thinks doesn't really make that much of a difference in the big picture. I am still optimistic and plenty of others are as well, including people with even more influence and knowledge than Hearn.

Just within the last couple of days things are looking quite bright as a lot of users and miners are expressing support for Bitcoin Classic, which can break open the increasingly worrisome Bitcoin Core development team and its censoring and arrogant influential supporters, and thus demonstrate bitcoin's anti-fragile construction.
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>>1045350
>Couldn't really cash out his share whenever the coin was above $1000.. and feels majorly butt hurt.
>Sells all of his bitcoins before quitting.
>Talks about how Bitcoin is nothing but a failure blablabla.
>Waits about a week for it to bottom out.
>Buys back at a much lower price and waits to ride it back to the moon.

I'm about to buy in and ride this bitch to another 100% return like last year.
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>>1045350
It failed the minute a few rich people in China got 51% of the mining power. We still have no idea if they were colluding or not. Even if they weren't in it together somehow, no one realized that the largest communist country in the world had effectively committed a 51% attack until it was too late. We would have realized the attack sooner had we not been sucking Mt. Gox's dick on potential $1000+ per coin valuations.

As was said in his Medium post, Bitcoin began to suffer a lot of things related to human greed. It transformed from a supposed money replacement to another investor pump and dump.
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Mike Hearn has always been a joke
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I hate shitcoins, but thus guy missed the point.

Literally boo pine intelligent thinks off crypto as a currency replacement.

It's a speculative pump n dump commodity
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>>1045350
Why is everything failing all at once. I understand the market crash was based on fundamentals, but why is bitcoin conveniently all set to collapse at the same time?
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>>1045394
This
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>>1045384
>pump and dump meme
agree on this 100%
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Im drunk right now but you have to know. Buy ethereum.

Have a good saturday

T. Vitalik buterin
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Just another Tulpenmanie
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>>1045350
I think what we might be seeing with bitcoin is a.. "Dump and Pump".

Big buisness and banks realized they missed the boat with bitcoin so they're lowering the prices, and slowly accumalating. Draining the common man and neckbeard of his bitcoins.

Then when they control a sizeable portion, they will pay out fox news and other major media to start shilling bitcoin hard.

Everyone in america and the world will want to get in on it. And price will skyrocket back to 1k.

Except this time the banks control the wealth as they always had.
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>>1045350

As long as I can still use it to buy weed, I'm happy!
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>>1045470
>>1045350
last shake out on weak hands.
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>>1045550
proof
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As someone who, given the opportunity, would go back in time just to get a few bitcoins and holding onto it up to now, what would that mean for me today?

Am I a dipshit?
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>>1045359
Its time to snap out of the delusion, pick yourself up and dust yourself off and get to recovering all that money you lost

Sorry for your misfortune
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>>1045812
>I keep on making up implausible scenarios because I am still holding Bitcoin and can't rationalize why I still am
>No matter how bad the news I try to spin it as a positive

It isn't going back up, and even if it does get a small pump before it tanks again, this is surely not because of banks. No banks will touch it with a 10 foot pole. This new announcement isn't the nail in the coffin because lord knows there has been worse news in the last couple of years, but it is another signal of Bitcoins slow demise. Today isn't the day you will admit that the days of Bitcoin are over, but trust me, it won't be long now.
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wait, so what do i do if i have some bitcoin in coinbase?
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>>1045350
HEARN LIED BITCON FAILED FAGGOTS CRIED!
>>
bitcoin in its self isnt going to crumble because it relies on trust, so far in my opinion the only thing that can crush bitcoin is a fundamental flaw in its system (ei copying/duplicating/printing coins, stealing from wallets in a reasonable amount of time, etc). Bitcoin is going to be only bigger once distribution becomes much easier. This is obviously some PR stunt to shun new commers or idiots away from the dream.
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Shut the fuck up about bitcoin already /biz/, damn

It's been an over valued and inflated currency for years. There are thousands of investors sitting on large bitcoin returns, just waiting to sell it at the right time.

It's going to plummet, it doesn't take a genius to see that
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>>1045470
Because this reality is the fever dream of an ill individual who is almost at deaths door. Eventually, you will see physics itself break as we fade into darkness, followed shortly by nothingness.

...or you know, some greedy faggots ruining things for the rest of us. I dunno anymore desu.
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>>1045812
>I think what we might be seing is Big business and banks pouring money in a electronic meme with no intrinsic value, other than the one created by the hype of the masses. a speculative 'crypto'currency that is worth only to that level as to which people at the moment believe it is.

yeah that would be a fucking good idea, anon
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>>1045359

>ITT Kool-aid
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Lol, your nocoiner FUD is not working, not even with Mike "beneavolent dictator" Hearn and the rest of the R3CEV mafia.

For the casuals: The latest drama with Mike Hearn calling Bitcoin a failed experiment is a strategic move by R3CEV to influence banks and industry away from Bitcoin, it further proves the fear they have of it being a success (which is not working, as we have tons of new stuff comming soon with 0.12, which will translate in a price recovery over the next weeks as we've seen before after alt-fork fears, which translates in a good opportunity to buy at a discount -pic related-, nontheless ups and downs are irrelevant and just market noise in the long term towards Bitcoin's unstopable path of victory).

If you noticed, yesterday at the Hutchins Center, they had a very important meeting comprised of 15 or so people. They included 6-8 members from the Federal Reserve, R3CEV members, BTC industry members, and also individuals from greater finance.

When the R3CEV guy was speaking, https://youtu.be/R0iArSIU0Z8?t=47m16s [Embed] [Embed] (@47m16s) , he was saying "I don't know what time it is, but any minute now there will be a New York Times article saying Mike Hearn broke up with Bitcoin and called it a failed experiment."

R3CEV, which is a consortium of 42 banks, paid for the New York Times article and hired a photographer in Zurich to snap that picture of Mike Hearn. Source: https://www.reddit.com/r/Bitcoin/comments/40zhgi/mike_hearn_the_bitcoin_believer_who_gave_up/cyyg36s (look up who that guy is)

How ironic that the article was published during a industry and policy panel. During this panel, which comprised of important people in the financial industry, we're learning about BTC and blockchain. Once they get out of the meeting, and search BTC , they will all see articles saying BTC failed.

This was a nice strategic move by R3CEV to influence the greater industry away from BTC. Now they are pushing their next memecoin, Bitcoin Classic, just LOL.
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>>1045359
I can tell you have done some reading, but you are still a casual on the surface as you are drinking the Classic koolaid, as you still don't understand the massive agenda to rush a hard fork by pretty much everyone that wants to see Bitcoin become a centralized-node mess.
The Bitcoin Core devs are the raw talent, Classic hasn't even shown any code, they are going to copy-paste Core and raise blocksize to 2MB to cater to the dumb newbies (majority) and claim the are better (good luck when Core devs get fed up of the bullshit and stop updating Core, then they will not have nothing to copy-paste from).
SegWit allows for the same performance increase as a blocksize increase without the risk of a hard fork, which would give us enough time to deploy side-chains, and once side-chains are deployed, the game is over for banksters, then "the monster is out there", and it will be unstoppable. What we are saying now are the desperate attemps of the banksters to take control before it's too late, deadline being around 2017. Get informed. This is the biggest cold-war humanity as ever seen.
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>>1046592
>This is the biggest cold-war humanity as ever seen.
Holy fuck you're an idiot. Stop posting here immediately.
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>>1046592
Hmm we will see boy.

Either event that comes out I win either way.
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>>1047009
hmm yea but

http://quotes.money.163.com/0000001.html
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>>1046592
>the game is over for banksters, then "the monster is out there", and it will be unstoppable. What we are saying now are the desperate attemps of the banksters to take control before it's too late, deadline being around 2017.

This is why I can't take anything you nut jobs say seriously. Bitcoin is a non-entity to banks, just a small blip on the radar. If any of you NEETs had even the slightest knowledge of how the world operates on a global scale, you would realize the total and absolute absurdity of what you posted. Yes, banks are looking into blockchain tech as a means of upgrading ledgers and allowing for faster interbank transactions, but that is as far as their interest goes. When Bernanke says that the blockchain is "interesting from a technology point of view" but that Bitcoin itself "has serious problems" you can be assured that he speaks directly for the major banking consortiums. Bitcoin is not even currently valued at a fourth of Paypals market cap, let alone even scratching the surface of the trillion dollar market cap of the banking cartel. It is so far below their scope that they haven't really had much at all to say about it and certainly haven't done anything to obstruct it. No, the lack of Bitcoin to establish itself as a widely accepted transactions medium was all of its own doing. To assume that Bitcoin will all the sudden explode to mainstream adoption after years of stagnation is rediculous. Please, stop posting this total hogwash on /biz/. It is becoming increasingly redundant and its a pain in my ass to come on here every time to call you out on your bullshit.
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>>1045350
>expects a virtual currency to be successful with current software
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>>1047021
靠背!

Buy ethereum!
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>ITT memecoiners believing they know more about bitcoin than the actual developers

yeah you fucked up, you given in to the shill of neckbeards and pseudonymous preachers, suck that cock and grow up. bubbles are common shit, the only idiocy in it is that you gave value to something that is without it.
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Bitcoins combined all of the worst things about fiat money (no actual value) with all of the worst things about commodity money (fixed supply) while managing to throw in a few new terrible ideas of its own (slow verification times)

Now, I could see some sort of blockchain-based cryptocurrency eventually become a big part of how business is conducted in the world, but thinking that Bitcoin would be the one to do it would have been like counting on the very first brick cellphone to kill landlines.
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>Everyone buys BTC from an exchange with USD
>Only way to sell it is to scour the internet and find someone willing to buy it in person

BTC is a great scam, but I'm honestly surprised more suckers haven't bought into it yet.
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>>1048082
You dont seem to know what an exchange is
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>>1048109
>You dont seem to know what an exchange is

An exchange works in one direction?
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>>1047361
/this
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>>1048868
Fucking shit faggots. Pick one coin and stick with it. You guys change shitcoins like you change your socks (most likely once a month you dirty NEETs). What's the flavor of the month next month?
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>>1047094
>bankster cope
>2015+1
Get a load of this maggot.
>>1047128
>implying it isn't already successful
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>>1047951
cope
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>>1046067
Sell it low :^)
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>>1049079
You are my favorite /biz/ poster by far. I love how desperate you are to do damage control every time Bitcoin gets BTFO. Sometimes I write anti-Bitcoin posts just to piss you off, not even Bitcoiners in general, but you personally, because I am amused by how Assad you get. That doesn't mean I'm being disingenuous at all about how Bitcoin is going to fail, just that I get extra pleasure watching you react to it happening.
Thread replies: 44
Thread images: 8
Thread DB ID: 438057



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