Quote from: lonely@thetop on September 26, 2014, 07:47:46 AM

Shorting might be a great advise now. Please don't try to prove to me the bright future of BTC by saying things like ETF/Paypal adoption or that no other altcoins can take over. I'm well aware of these wishful arguments from here or r/bitcoinmarkets.

I'll just say that it doesn't have to be an altcoin to take over - people don't care about decentralized, they want least pain with max outcome. How many of you host your own email rather than letting google do the thing? How many use facebook connect? You know what.. "you" are not even a good representative group of the population, it's clear BTC has reached it's full potential from nerds alone.

We need joe sixpacks and computer illiterate people. And by computer illiterate people I'm saying people that pay to get their windows re-installed every 6 months because it "gets slow" or people who call their ISP about broken internet link just because they accidentally dragged the IE icon to trash bin. Why would they care about BTC technicals (arguably hard to grasp and use securely even for IT professionals) and not convenience alone?

The moment Apple, Google or Facebook launches a convenient, safe and quick value transfer system BTC will bite the dust. And no, these companies are not crazy to adopt BTC - it has a muddy PR image due to massive scams like gox, no "founder" and thousands of early adopters still silently waiting for their exit. I've seen people showing screens of their MtGox accounts with thousands of coins (could be fake, but whatever) because they lost it and can no longer do anything about it, there are certainly many people with thousands of coins lucky/smart enough not to have kept it in that childish exchange. They alone can crash the economy, I won't even touch the mining/inflation that is taking place.

ETF is still vaporware, just another day for the bulls to fix on. Many dates have passed this year with no positive impact already because things like that don't drive consumer (not company) adoption. Joe sixpacks have to have a genuine need for this or be told they need it by their peers. ETF will certainly not change that.

Look how poor an investment was BTC this year - a constant slide down after gox wrap up and scam news. I would not recommend anyone put in their money unless I wanted to lose a friend.

Paypal integrating bitcoin as justification for future success and price rises is wishful thinking? Not sure I agree with you there.

Of course crypto 2.0 coin could rise up and win the race. But as it stands bitcoin has a huge first mover advantage, huge network effect advantage and is the only crypto being built into internet payment systems globally. It may fail but its upside potential are undeniable.

To say it has reached its potential as we are on the cusp of going mainstream, with huge VC infrastructure investment ongoing, suggests you either sold already or cannot handle the volatility of a long term bull market.