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Title: This is the end Post by: horgh on August 19, 2012, 08:19:13 PM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out.
Title: Re: This is the end Post by: phorensic on August 19, 2012, 08:20:24 PM So what you're saying is you placed a large buy order below $1.00? K.
Title: Re: This is the end Post by: smoothie on August 19, 2012, 08:21:49 PM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. LOL wait a month. You're too short sighted. Title: Re: This is the end Post by: proudhon on August 19, 2012, 08:22:36 PM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. It won't end just like that. In summer of 2013 the price will rally all the way back up to $7.50 or so and then crash. In 2014 the price will rally all the way back to $3.75 and then crash. 2015 will see a strong rally back to $1.87 followed by a crash and a healthy 2016 rally back to $0.93. In 2017 LTC will rally to $100 and bitcoin will be done. You heard it hear first folks. Title: Re: This is the end Post by: KyleH on August 19, 2012, 08:31:34 PM This is why 12 year olds have no business in currency exchange.
Title: Re: This is the end Post by: mobodick on August 19, 2012, 08:34:17 PM This is why 12 year olds have no business in currency exchange. Yeah, it's best to wait untill 13 or 14.. Title: Re: This is the end Post by: OgNasty on August 19, 2012, 08:39:19 PM Seeing this post actually made me buy back some coins. This could be the perfect post to show the investor confidence cycle if we saw a turnaround now.
Title: Re: This is the end Post by: waspoza on August 19, 2012, 08:41:51 PM Seeing this post actually made me buy back some coins. This could be the perfect post to show the investor confidence cycle if we saw a turnaround now. Yup, sell on rockets, buy on end of bitcoin. :D Title: Re: This is the end Post by: niko on August 19, 2012, 08:45:45 PM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. So much confidence, so little substance. The Dunning-Kruger effect FTW. Title: Re: This is the end Post by: proudhon on August 19, 2012, 08:45:59 PM Atm I think its buy on namecoin, they're nearly double what I paid for some a couple of days ago. Damn, how'd I miss that? Title: Re: This is the end Post by: Gabi on August 19, 2012, 08:47:57 PM Quickly, everyone uninstall bitcoin and delete wallet.dat!
Title: Re: This is the end Post by: 556j on August 19, 2012, 08:48:21 PM bitcoin will never die unless government launched some massive effort to imprison every end user. Or there is some massive flaw found. It has some unique properties and the people who use them for trade don't care what the exchange rate is.
Title: Re: This is the end Post by: bitcoinBull on August 19, 2012, 08:48:27 PM Atm I think its buy on namecoin, they're nearly double what I paid for some a couple of days ago. Damn, how'd I miss that? You mean BTC is nearly half what it was a couple of days ago. Title: Re: This is the end Post by: proudhon on August 19, 2012, 08:49:14 PM Atm I think its buy on namecoin, they're nearly double what I paid for some a couple of days ago. Damn, how'd I miss that? You mean BTC is nearly half what it was a couple of days ago. Well, yeah, there's that. Title: Re: This is the end Post by: proudhon on August 19, 2012, 08:52:26 PM When this sort of thing was going on last year it was stressful, and I snapped. Since I've paid off my initial investment and I'm up by a whole lot, it's entertaining.
Title: Re: This is the end Post by: runeks on August 19, 2012, 08:53:37 PM Title: Re: This is the end Post by: Matthew N. Wright on August 19, 2012, 08:54:37 PM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. Code: Name: horgh SA troll detected. Title: Re: This is the end Post by: zhalox on August 19, 2012, 09:03:37 PM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. It won't end just like that. In summer of 2013 the price will rally all the way back up to $7.50 or so and then crash. In 2014 the price will rally all the way back to $3.75 and then crash. 2015 will see a strong rally back to $1.87 followed by a crash and a healthy 2016 rally back to $0.93. In 2017 LTC will rally to $100 and bitcoin will be done. You heard it hear first folks. And why is LTC any better than BTC? I don't trust LTC. Please explain your reasoning for this outlandish prediction. If this post was made in complete sarcasm, please confirm. Title: Re: This is the end Post by: Gabi on August 19, 2012, 09:05:30 PM I hope everyone is uninstalling, after all this is the end!
Title: Re: This is the end Post by: ElectricMucus on August 19, 2012, 09:07:48 PM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. Code: Name: horgh SA troll detected. You are paranoid Matt, here take my tinfoil hat. That's just a regular sockpuppet, nothing to see here. Title: Re: This is the end Post by: mb300sd on August 19, 2012, 09:08:11 PM Everyone who believes this is the end, send me your wallet.dat!
Title: Re: This is the end Post by: BlackPrapor on August 19, 2012, 09:09:37 PM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. It won't end just like that. In summer of 2013 the price will rally all the way back up to $7.50 or so and then crash. In 2014 the price will rally all the way back to $3.75 and then crash. 2015 will see a strong rally back to $1.87 followed by a crash and a healthy 2016 rally back to $0.93. In 2017 LTC will rally to $100 and bitcoin will be done. You heard it hear first folks. lol, not a single currency is safe from manipulation. LTC is actually even in more danger. You can buy all ltc today with a fraction of money it costs to buy all btc....tiny fraction, and then do whatever you like with it. bitcoin has a real market tied to it and wont fall like in 2011 anymore....which reminds me of betting website =) should check it out. Title: Re: This is the end Post by: BlackPrapor on August 19, 2012, 09:11:26 PM Everyone who believes this is the end, send me your wallet.dat! I'm buying for 1$ every wallet with >1btc stored on it with Paypal, or webmoney, just PM me ::) ;DTitle: Re: This is the end Post by: bitcoinBull on August 19, 2012, 09:12:05 PM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. It won't end just like that. In summer of 2013 the price will rally all the way back up to $7.50 or so and then crash. In 2014 the price will rally all the way back to $3.75 and then crash. 2015 will see a strong rally back to $1.87 followed by a crash and a healthy 2016 rally back to $0.93. In 2017 LTC will rally to $100 and bitcoin will be done. You heard it hear first folks. We're still above $7.2, the price you said was going to be the high for 2012 (old high becomes new support). At least the market is interesting again. Anyone's call where the trend goes from here.. Title: Re: This is the end Post by: blacbe on August 19, 2012, 09:23:17 PM I've been mining since April last year. I'm a small time miner about 2gh/s. I just started mining with a single 5850 that I didn't buy for Bitcoin but for video games. I cashed out about 40 Bitcoins when it hit $30 and used that to build a new miner. It's too bad the price crashed shortly after but it doesn't matter much I still made money. I've long since made that money back. I never put a penny into Bitcoin that I didn't make from Bitcoin except the cost of electricity for the first month of mining. Mining to me is like a couple of extra bucks on the side.
It annoys me that I'm making a few less bucks right now because some people were stupid enough to gamble their money into pirate's ponzi. It's always been like this where stupid people affect the market too much. It's occurred a few times. I'm pretty annoyed with this happening regularly where stupid people get ripped off and they affect the market. Bitcoin won't die because of this but if it did I wouldn't even care I'd be happier. Title: Re: This is the end Post by: proudhon on August 19, 2012, 09:24:18 PM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. It won't end just like that. In summer of 2013 the price will rally all the way back up to $7.50 or so and then crash. In 2014 the price will rally all the way back to $3.75 and then crash. 2015 will see a strong rally back to $1.87 followed by a crash and a healthy 2016 rally back to $0.93. In 2017 LTC will rally to $100 and bitcoin will be done. You heard it hear first folks. lol, not a single currency is safe from manipulation. LTC is actually even in more danger. You can buy all ltc today with a fraction of money it costs to buy all btc....tiny fraction, and then do whatever you like with it. bitcoin has a real market tied to it and wont fall like in 2011 anymore....which reminds me of betting website =) should check it out. Wait, sorry, have you not been watching the price this weekend? Title: Re: This is the end Post by: proudhon on August 19, 2012, 09:25:48 PM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. It won't end just like that. In summer of 2013 the price will rally all the way back up to $7.50 or so and then crash. In 2014 the price will rally all the way back to $3.75 and then crash. 2015 will see a strong rally back to $1.87 followed by a crash and a healthy 2016 rally back to $0.93. In 2017 LTC will rally to $100 and bitcoin will be done. You heard it hear first folks. We're still above $7.2, the price you said was going to be the high for 2012 (old high becomes new support). At least the market is interesting again. Anyone's call where the trend goes from here.. The trend is to go below January's high and then stay in the single digits into 2013. Title: Re: This is the end Post by: zhalox on August 19, 2012, 09:34:39 PM Why proudhon, why do you need bitcoin to crash so low? It sounds like you want everyone else to panic so you can buy our bitcoins from us at a lower price than they're worth. Sorry proudhon, but I'm not selling you my bitcoins.
Title: Re: This is the end Post by: aq on August 19, 2012, 09:38:50 PM Why proudhon, why do you need bitcoin to crash so low? It sounds like you want everyone else to panic so you can buy our bitcoins from us at a lower price than they're worth. Sorry proudhon, but I'm not selling you my bitcoins. Look at his avatar. proudhon is a bull, that is why he is fear-mongering you all into selling, so that he can buy your coins as cheap as possible ;)Title: Re: This is the end Post by: TraderTimm on August 19, 2012, 09:45:38 PM Love that there is no timeframe - just the 'certainty' of sub-dollar prices. So sure about the level but not about the time? You silly troll. Give us a date so we can come back and ridicule you later.
Title: Re: This is the end Post by: Spekulatius on August 19, 2012, 09:50:32 PM Title: Re: This is the end Post by: anu on August 19, 2012, 09:50:41 PM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. Why how again it seethes and glows! Away, thou fool! Her torment ease! When such a head no issue sees, It pictures straight the final close. (Goethe, Faust) Title: Re: This is the end Post by: Rygon on August 19, 2012, 09:57:08 PM I've already gotten back my initial investment because I was dollar-cost averaging on the way up these past few months. Currently sending some more USD to buy up coins when the price drops below $5 after Pirate returns coins to his lenders and a good portion decide to cash out.
Of course, there is always the chance that the market is over reacting to that possibility, and swinging TOO low. Or that Pirate doesn't pay out 100%. Title: Re: This is the end Post by: Kupsi on August 19, 2012, 10:01:43 PM ...and I feel fine :D
http://www.youtube.com/watch?v=Z0GFRcFm-aY (http://www.youtube.com/watch?v=Z0GFRcFm-aY) Title: Re: This is the end Post by: OgNasty on August 20, 2012, 02:33:43 AM This could be the perfect post to show the investor confidence cycle if we saw a turnaround now. We should all remember this thread if the price trend does indeed continue upward. Title: Re: This is the end Post by: Matthew N. Wright on August 20, 2012, 02:40:17 AM If you really think it's the endgame and pirate is a ponzi, https://bitcointalk.org/index.php?topic=101751
Title: Re: This is the end Post by: cypherdoc on August 20, 2012, 02:49:43 AM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. why do we put up with punks like this who come out with a FUD post but don't bother to back up other's refutations? or is he a troll with an agenda? Title: Re: This is the end Post by: sadpandatech on August 20, 2012, 02:59:46 AM Title: Re: This is the end Post by: bitcon on August 20, 2012, 03:08:58 AM you know. i dont like your attitude, mister.
Title: Re: This is the end Post by: oakpacific on August 20, 2012, 07:59:25 AM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. why do we put up with punks like this who come out with a FUD post but don't bother to back up other's refutations? or is he a troll with an agenda? Why not, who would reject someone who want to buy high sell low and give their money away for free, besides themselves? Title: Re: This is the end Post by: YoYa on August 20, 2012, 08:29:22 AM The end huh?
Take your ticket and go to the end of the line buddy: http://en.wikipedia.org/wiki/List_of_dates_predicted_for_apocalyptic_events Were bitcoin that vulnerable it would be illegal right now, as it is it's so resilient they are afraid to touch it for fear they legitimize it as a valid dark currency. Fun times, fucking fun times, grab yer popcorn! Title: Re: This is the end Post by: paraipan on August 20, 2012, 09:50:49 AM Everyone who believes this is the end, send me your wallet.dat! http://img.genbeta.com/2011/04/googlelike.png The end huh? Take your ticket and go to the end of the line buddy: http://en.wikipedia.org/wiki/List_of_dates_predicted_for_apocalyptic_events Were bitcoin that vulnerable it would be illegal right now, as it is it's so resilient they are afraid to touch it for fear they legitimize it as a valid dark currency. Fun times, fucking fun times, grab yer popcorn! I'l be damn, seems bitcoin manages to crack even the toughest "nuts" :) Title: Re: This is the end Post by: mobodick on August 20, 2012, 01:21:24 PM why do we put up with punks like this who come out with a FUD post but don't bother to back up other's refutations? or is he a troll with an agenda? A troll without an agenda just doesn't take trolling serious enough... Title: Re: This is the end Post by: cypherdoc on August 20, 2012, 01:41:01 PM Everyone who believes this is the end, send me your wallet.dat! http://img.genbeta.com/2011/04/googlelike.png The end huh? Take your ticket and go to the end of the line buddy: http://en.wikipedia.org/wiki/List_of_dates_predicted_for_apocalyptic_events Were bitcoin that vulnerable it would be illegal right now, as it is it's so resilient they are afraid to touch it for fear they legitimize it as a valid dark currency. Fun times, fucking fun times, grab yer popcorn! I'l be damn, seems bitcoin manages to crack even the toughest "nuts" :) he turned bullish quite some time ago. Title: Re: This is the end Post by: pyromaniac on August 20, 2012, 01:44:49 PM If anyone have useless bitcoins or think they are collapsing he can send it to my wallet 1FXAQ1ak1fFUVoi8xuBmTLkpiu3vZNptpj ::)
Title: Re: This is the end Post by: Rassah on August 20, 2012, 01:57:59 PM No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. Obvious troll is too obvious. Humor fail (unless this is 100% sarcasm). Plus if we can survive $30 to $2.50, we can survive $15 to $7 Title: Re: This is the end Post by: ElectricMucus on August 20, 2012, 02:02:57 PM People are just mad there might be a chance to buy coins at 1.5 this year if they already exhausted their entire budget. :P
Title: Re: This is the end Post by: Elwar on August 20, 2012, 02:06:15 PM I wish the price dropped to $1.
But wait about 6 months when I have some big money coming in to buy a buttload of BTC. Right now I am broke so the only price that matters is if it jumps over $50k/BTC. Then I sell. Title: Re: This is the end Post by: anu on August 20, 2012, 02:08:31 PM Plus if we can survive $30 to $2.50, we can survive $15 to $7 The issue is not the price. The issue is vola. Currently, a 20% swing in a few minutes is almost normal. For merchants, this makes Bitcoin the payment system with the highest TX cost, by far. Maybe SR can live with this, but for all other business, Bitcoin is ATM unusable. But even for SR, this is not good. If someone with deep pockets wanted to kill Bitcoin, this would be the way. Title: Re: This is the end Post by: pyromaniac on August 20, 2012, 02:26:30 PM Plus if we can survive $30 to $2.50, we can survive $15 to $7 The issue is not the price. The issue is vola. Currently, a 20% swing in a few minutes is almost normal. For merchants, this makes Bitcoin the payment system with the highest TX cost, by far. Maybe SR can live with this, but for all other business, Bitcoin is ATM unusable. But even for SR, this is not good. If someone with deep pockets wanted to kill Bitcoin, this would be the way. Title: Re: This is the end Post by: DeathAndTaxes on August 20, 2012, 02:31:37 PM SR is not needed for over 99% bitcoin users, other than drug addicts and drug dealers. You honestly think that less than 1% of Bitcoin users are involved in the SR? Really? bitcointalk.org =/= bitcoin. Hardcore destroy the FED, bitcoin is going to $538,942,343,243.28 in 2 years when it becomes the one world currency =/= all bitcoin users. Some people actually just use Bitcoin to buy and sell things. Crazy I know people using a currency for commerce. The SR is the largest source of commerce involving BTC. Title: Re: This is the end Post by: morkai421 on August 20, 2012, 02:32:23 PM "SR is not needed for over 99% bitcoin users"
SR is a large part of btc economy. A part that is actually not about speculation. I don't like junkies, but at least they are using btc the way it should be. Title: Re: This is the end Post by: anu on August 20, 2012, 02:37:56 PM "SR is not needed for over 99% bitcoin users" SR is a large part of btc economy. A part that is actually not about speculation. I don't like junkies, but at least they are using btc the way it should be. Not everyone who gets some shrooms every other month is a junkie. Not everyone who enjoys a glass of wine in the evening is a drinker. Title: Re: This is the end Post by: pyromaniac on August 20, 2012, 03:00:40 PM "SR is not needed for over 99% bitcoin users" SR is a large part of btc economy. A part that is actually not about speculation. I don't like junkies, but at least they are using btc the way it should be. Not everyone who gets some shrooms every other month is a junkie. Not everyone who enjoys a glass of wine in the evening is a drinker. Title: Re: This is the end Post by: Rassah on August 20, 2012, 03:29:41 PM "SR is not needed for over 99% bitcoin users" SR is a large part of btc economy. A part that is actually not about speculation. I don't like junkies, but at least they are using btc the way it should be. Not everyone who gets some shrooms every other month is a junkie. Not everyone who enjoys a glass of wine in the evening is a drinker. You are, of course, referring to the One World Government and/or Illuminati here, right? Title: Re: This is the end Post by: bigasic on August 20, 2012, 04:26:20 PM Plus if we can survive $30 to $2.50, we can survive $15 to $7 The issue is not the price. The issue is vola. Currently, a 20% swing in a few minutes is almost normal. For merchants, this makes Bitcoin the payment system with the highest TX cost, by far. Maybe SR can live with this, but for all other business, Bitcoin is ATM unusable. But even for SR, this is not good. If someone with deep pockets wanted to kill Bitcoin, this would be the way. Have to remember, that vendors on that silk road can hedge their btc to protect themselves against swings like this...I think it only costs them 4 percent or so, (been a long time since i read a thread over there, maybe its changed by now, but at least thats the way it was a couple months ago) AR Title: Re: This is the end Post by: anu on August 20, 2012, 04:35:10 PM Have to remember, that vendors on that silk road can hedge their btc to protect themselves against swings like this...I think it only costs them 4 percent or so, (been a long time since i read a thread over there, maybe its changed by now, but at least thats the way it was a couple months ago) AR Sure you can always do something. 4% sounds OK. But you also have to learn how to hedge and then hedge the deals. Does your time have no value? Title: Re: This is the end Post by: anu on August 20, 2012, 04:41:40 PM but the law is not on his side. This is really one of the most stupid arguments I have ever heard. The law is not on the side of every single victim of the law. The law is not on the side of Pussy Riot or Assange. It was not on the side of Geronimo and it is not on the side of Salman Rushdie. The law was not on the side of the Jews, it was on the side of the Nazis. Exactly what is the law doing when whipping a wine drinker bloody or jailing a fan of shrooms? Title: Re: This is the end Post by: notme on August 20, 2012, 04:47:17 PM Have to remember, that vendors on that silk road can hedge their btc to protect themselves against swings like this...I think it only costs them 4 percent or so, (been a long time since i read a thread over there, maybe its changed by now, but at least thats the way it was a couple months ago) AR Sure you can always do something. 4% sounds OK. But you also have to learn how to hedge and then hedge the deals. Does your time have no value? I'm not positive since I'm not a user/seller of SR, but I've heard that the hedging is a built in functionality. The 4% you pay is so you don't have to learn to do it yourself. Title: Re: This is the end Post by: DeathAndTaxes on August 20, 2012, 04:51:25 PM Have to remember, that vendors on that silk road can hedge their btc to protect themselves against swings like this...I think it only costs them 4 percent or so, (been a long time since i read a thread over there, maybe its changed by now, but at least thats the way it was a couple months ago) AR Sure you can always do something. 4% sounds OK. But you also have to learn how to hedge and then hedge the deals. Does your time have no value? I'm not positive since I'm not a user/seller of SR, but I've heard that the hedging is a built in functionality. The 4% you pay is so you don't have to learn to do it yourself. That is my understand as well just remember hedging simply transfers the volatility risk to someone else (in this case the site operator and/or backers providing the hedging). If volatility increases the risk increases and either they are forced to stop offering it or charging more. No matter who is doing the hedging volatility costs users who are using Bitcoin as a payment mechanism. More volatility = higher costs and lower value/utility. Title: Re: This is the end Post by: notme on August 20, 2012, 04:53:52 PM Have to remember, that vendors on that silk road can hedge their btc to protect themselves against swings like this...I think it only costs them 4 percent or so, (been a long time since i read a thread over there, maybe its changed by now, but at least thats the way it was a couple months ago) AR Sure you can always do something. 4% sounds OK. But you also have to learn how to hedge and then hedge the deals. Does your time have no value? I'm not positive since I'm not a user/seller of SR, but I've heard that the hedging is a built in functionality. The 4% you pay is so you don't have to learn to do it yourself. That is my understand as well just remember hedging simply transfers the volatility risk to someone else (in this case the site operator and/or backers providing the hedging). If volatility increases the risk increases and either they are forced to stop offering it or charging more. No matter who is doing the hedging volatility costs users who are using Bitcoin as a payment mechanism. More volatility = higher costs and lower value/utility. If they make an actual trade to back it, there is a very small window of vulnerability. Title: Re: This is the end Post by: pyromaniac on August 20, 2012, 04:54:03 PM "SR is not needed for over 99% bitcoin users" SR is a large part of btc economy. A part that is actually not about speculation. I don't like junkies, but at least they are using btc the way it should be. Not everyone who gets some shrooms every other month is a junkie. Not everyone who enjoys a glass of wine in the evening is a drinker. You are, of course, referring to the One World Government and/or Illuminati here, right? Title: Re: This is the end Post by: bigasic on August 20, 2012, 05:01:03 PM Have to remember, that vendors on that silk road can hedge their btc to protect themselves against swings like this...I think it only costs them 4 percent or so, (been a long time since i read a thread over there, maybe its changed by now, but at least thats the way it was a couple months ago) AR Sure you can always do something. 4% sounds OK. But you also have to learn how to hedge and then hedge the deals. Does your time have no value? I'm not positive since I'm not a user/seller of SR, but I've heard that the hedging is a built in functionality. The 4% you pay is so you don't have to learn to do it yourself. That is my understand as well just remember hedging simply transfers the volatility risk to someone else (in this case the site operator and/or backers providing the hedging). If volatility increases the risk increases and either they are forced to stop offering it or charging more. No matter who is doing the hedging volatility costs users who are using Bitcoin as a payment mechanism. More volatility = higher costs and lower value/utility. If they make an actual trade to back it, there is a very small window of vulnerability. Just checked it out.. It an automated system on SR. the admins take all the risk, all the vendor has to do is click a button to hedge. It looks like you just have to know what hedging is and then click the button. Man, there are some pretty business savy drug people.. Didn't realize that SR was that far in their thinking... So, they obviously have figured out a way to help ease the minds of vendors that can't take the swings. AR Title: Re: This is the end Post by: pyromaniac on August 20, 2012, 05:09:58 PM but the law is not on his side. This is really one of the most stupid arguments I have ever heard. The law is not on the side of every single victim of the law. The law is not on the side of Pussy Riot or Assange. It was not on the side of Geronimo and it is not on the side of Salman Rushdie. The law was not on the side of the Jews, it was on the side of the Nazis. Exactly what is the law doing when whipping a wine drinker bloody or jailing a fan of shrooms? You must have to remember that we live not in vacuum, but in society with real people, who do not want to be abused by crazy mushroomeater with sharp knife. If someone don't like this, he can make his own heaven with blackjack and hookers. http://cdn.memegenerator.net/instances/250x250/22258375.jpg Title: Re: This is the end Post by: notme on August 20, 2012, 07:41:33 PM but the law is not on his side. This is really one of the most stupid arguments I have ever heard. The law is not on the side of every single victim of the law. The law is not on the side of Pussy Riot or Assange. It was not on the side of Geronimo and it is not on the side of Salman Rushdie. The law was not on the side of the Jews, it was on the side of the Nazis. Exactly what is the law doing when whipping a wine drinker bloody or jailing a fan of shrooms? You must have to remember that we live not in vacuum, but in society with real people, who do not want to be abused by crazy mushroomeater with sharp knife. If someone don't like this, he can make his own heaven with blackjack and hookers. http://cdn.memegenerator.net/instances/250x250/22258375.jpg I have never seen anybody on mushrooms violently attack anyone. K2, alcohol, and other legal substances are a different story. Nice try though. Title: Re: This is the end Post by: RodeoX on August 20, 2012, 07:43:39 PM Here we go again. ::) The expert with a 20 post count is schooling us on economics.
Title: Re: This is the end Post by: amencon on August 21, 2012, 01:04:39 AM Stupid Bitcoin, can't even die correctly.
Title: Re: This is the end Post by: Rygon on August 21, 2012, 12:56:20 PM It's really difficult to reduce the volatility when we can't move USD in and out of the market very quickly. The same goes for arbitrage. These drops wouldn't be so bad if it didn't take days for people to move fiat into the system to establish a floor. Otherwise, we need more people with big pockets to keep fiat floating on the exchanges doing nothing, just waiting for a big drop.
Title: Re: This is the end Post by: unclescrooge on August 21, 2012, 01:12:15 PM Yes we need big players.
But don't worry, they'll come with time :) Title: Re: This is the end Post by: thezerg on August 21, 2012, 02:00:54 PM It's really difficult to reduce the volatility when we can't move USD in and out of the market very quickly. The same goes for arbitrage. These drops wouldn't be so bad if it didn't take days for people to move fiat into the system to establish a floor. Otherwise, we need more people with big pockets to keep fiat floating on the exchanges doing nothing, just waiting for a big drop. Its not deep pocketed players we need for that but exchanges we trust to not get hacked... Title: Re: This is the end Post by: goodlord666 on August 21, 2012, 03:06:27 PM why did a troll post get this many replies and views?
Title: Re: This is the end Post by: SkRRJyTC on August 21, 2012, 03:17:57 PM why did a troll post get this many replies and views? Good title. |
