Bitcoin Forum

permabulls either disappeared into the night or changed their talk. You can notice it.
The more intelligent forum members seem to have gone from "of course it rises" to "we might have a problem here"
now ban everyone until bitcoin actually rises? Other solutions?
Close down the forum? Ban only smartasses like smalltimer who point it out and pretend everything was normal once these smartasses are gone?
What we do? Just stand by and watch the home of permabulls burn down?
We have to take action or permabulltards could be extinct! Raising awareness here for a dying species.

Maybe this image helps too? It's how i feel sometimes reading through here

https://i.imgur.com/1eHiUJz.jpg


Reminder: We are only one selloff away from total failure becoming a possibility and being discussed out in the open and two selloffs from turning this place into hell for everyone.

Have you previously been made aware of the bigger picture about the miserable circumstances of bitcoin markets, this forum and the mental state of most of its participants are in? Now imagine for a second: it could become worse!

Feel free to share opinions on the coming stagnation (best case) or the possibility of total failure (worst case) and the obvious extinction of the permabulltard-kind on the board.

I took a loan today.

Either the price will go up before I can pay it off, which will make it a good deal. Or it will remain low by then, which means I can get more cheap coins before the price eventually goes up again. Either way, it's a win.

Smart decision. I sold some stocks two years ago and bought bitcoins.

Unfortunatelly those stocks went up 23% between then and now :(

They're not extinct yet, thankfully (since they provide comedy gold). There are at least a couple left. Even when Bitcoin drops below $100, sometime next year, the cultists/permabulltards will yell about "cheap coinz". They'll loudly exclaim their intent to buy lots of coins as soon as the price drops below $50. They'll also commend the "weak hands", thanking them for being "shaken out".

Bitcoin will continue having some utility for several years, since it has uses in the black markets. But drug dealers/buyers can use Bitcoin just fine even if it's below $10. And some cultists will still HODL (or at least claim to HODL) when BTC is sub 10, even if they bought their coins in the $700+ range.

The bear market in crypto currencies will last thru October 2015, if repaying your loan can wait till then, you have a good chance to win.

Take a clue from Satoshi - do nothing, of course.

Bitcoin doesn't care if we do - or not do - anything.

which is actually pretty wise - zen is what gets you forward here. Satoshi a real sage.

No one, on either side of the fence, is vying for "control" of this section. What would "control" even mean? That only their viewpoints are tabled and everything else is deleted? It's an open forum, people post whatever and whenever they choose. Anyone with any sense should see that surrounding yourself with people that echo your own beliefs is a good recipe for intellectual stagnation.

High quality and thought-provoking posts should foster discussion and rise to the top, irrespective of the poster's bull/bear status. If people stopped strongly identifying with this crap and just discussed bitcoin we'd be a lot better off.

Permabull here, hodling more coin than cash. Work at work when price is in shitter, work on side-projects when price peaks. If price collapsed or continues stagnating, it wouldn't be worth the hassle to cash out, and I'd be too busy at work to sing the permabull chorus. Only the ballsiest of ballers work on Bitcoin projects during low-hype seasons, but they're the ones critical to the success of the rest of us freeloaders.

Another permabull here !!!! Meet my ignore list.....  :-*

Loaded permabull here.

Same.

Sorry trolls but you won't be invited to the parties on the private island. Fellow permabulls of course have permanent invitations. :D

I am currently putting money into place. It is not as easy in Europe as it was in the US.

But I do see this stagnation as a good thing. Once the price moves, it will be all over the place. I am putting a lot of positions lower because I know that Bitcoin is like Michigan weather. If you don't like it now, just wait a few hours.

It will be fun.

1. Technically not an island.
2. Your shit's on fire, swim for it!

http://www.bobleroi.co.uk/ScrapBook/Sealand_Fire/SeaSmoke12.jpg

LOL thread.

Just more wishful thinking by deluded beartards dreaming of cheap coins.

Take a look at the results in Adam's polls at the top of every page of his wall observer thread... very bullish usually.

Perhaps the OP is distracted by the sheer number of FUD threads spammed by the likes of Fewcoins and DeadCoin, or the sheer number of boring posts from hardcore trolls like our favorite brony airhead.

LOLOLOLOL

http://i664.photobucket.com/albums/vv10/JimboToronto/circusbear.jpg (http://s664.photobucket.com/user/JimboToronto/media/circusbear.jpg.html)

Since we're on the subject, let's see what you thought the price would be today.

You, from last spring: :)


Talk about fail :D

I have invested something like $20k into bitcoin. If the price reaches even a tenth of its potential I will have enough to last a lifetime, possibly enough to support a family depending how high it goes. If it drops to nothing, I will be where I was a year ago, plus a much improved ability to save what little money I have. Either way, net win.

This is the attitude of true hodlers. We are prepared to lose it all. Whatever the price does, no matter how low it goes, I will not even think about selling before the price is well above my buyin. All or nothing.

Same here. Luckily, since July 2013, my coins have been priced higher than I paid for them.

Even so, I'm still buying the dips, despite the fact that each purchase raises my overall average price.

Time is in our side. Even if Bitcoin is somehow broken and the price drops to zero, I'm still comfortable financially. Bitcoin is only one of my assets, albeit perhaps the one with the greatest potential.

If Bitcoin lives up to even a small fraction of that potential, my old age should be very comfortable indeed.

Sex & herbs & rock & roll!

 :)

I don't know if I'm a perma-bull. I do believe this is just the beginning for bitcoin, but I don't believe in a permanent bull run there. What's a perma-bull?

A term used by those who do not understand the technology to describe those who actually see the potential.

perma-bull, still a miner still hoarding and hodling all,upside still greater than downside , whats new it say?

+1

It's a sufferer of a hilarious form of OCD, colloquially known as "hoarding."
Wikipedia describes it as a compulsion "where the perceived importance of the hoarded items far exceeds their true value."

You are a very naughty poster :D

permabulls are perma

Seems to me the people making the most noise are the ones that are the most afraid. I'm comfy with my position, don't feel the need to convince anyone that "I'm right" as I have said many times over, I don't know if I am. Nobody knows. OP analysis reeks of naivety by being so sure BTC is doomed.

I still dream of Sealand... :'( What an amazing TPB internship opportunity the world missed out on. ;D

Goes to show you times have changed & most holders are finally selling... hence why we keep hitting new lows & bomb hard every other month

Yes. Make a donation to the Save a Perma-bull Foundation with your soon-to-be worthless bitcoins!



1JAABMnMjouubssAuHHmv5US5oDw8J22fx

https://i.imgur.com/WVuuovZ.png

 ;D ;D

Pretty much this. People who understand the technology, its context, the risks and benefits and have taken appropriate action are content to sit back and watch.

Amen and +1
I didn't get this far listing to the mob. Just like money I have made in other markets I did the homework myself. I have no idea what the price is going to do, but I don't look at price. I look at utility. Is bitcoin the fastest, most secure, and cheapest way to send money? yes. Is bitcoin the only way to directly buy anything from anyone on Earth? Yes. Then wow! That is going to be worth a fortune as it continues to grow. And growing it is. Every time I go shopping online I find more outlets to spend my coins. And when I want more, it's easier than ever to get some.

So don't show me some dumb ass chart. I bet on ideas to powerful to ignore. Ideas like bitcoin.

Don't confuse being extinct with being tired of explaining the obvious. Quite the contrary - we are all here, observing how you run in circles screaming that bitcoin is dead. Very entertaining, you know, seeing people who have no part in bitcoin convincing people who are already heavily invested that they are all doomed. Like a drunken beggar screaming at Rothschild that his gold will cost nothing tomorrow! This always works.

You really should take a look, bro.  It fell like 70% in the past year :D

2014 was not a good year :(

Been an excellent year for accumulating.

When most people in the poll or some particular forum say something is bullish, it's probably very bearish. You should learn psychology, it's very interesting, here's some mandatory reading for you:

http://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555/ref=sr_1_1?ie=UTF8&qid=1417968160&sr=8-1&keywords=kahneman

No.  2015 is going to be a much better year for accumulating.  The best is yet to come! :)

http://s3.postimg.org/vt6666gir/carp.jpg

This.  :'(

Sorry but I don't get it. A few guys just seem to be here in the forum to tell us how shitty bitcoin is and that btc holders should sell.I believe there must be a reason for this.Are these guys looking for a cheap coin? I mean if you think that btc believers are stupid why not just let them do what they want.It's their money so why you care? Why you bother? Everyone who did some research knows that btc and crypto in general is quite risky.
So of course if you believe in btc and other cryptos you should just invest what you are willing to lose and then just watch the show.No one here knows how it will end. All this seems to be some stupid tries of manipulation imo.
Kindergarten!

Bro, we're your only friends here.  The rest are pimping bitcoin because they didn't manage to sell--waited too long--and now need to find greater fools to buy their bag of dicks.
If there's anything else you need to know, just ask.

No need for this kind of "friend" thx!

^
I know I seem like a downer to you starry-eyed finance enthusiasts; no one likes being told to stop running with scissors.
But it's my taxes that will be paying for your dole/welfare when you [predictably] impoverish yourself.

http://s29.postimg.org/kh0zkuabr/neo1.jpg

Gah that northamerican tribe and their self-centric view of the world. Only 4% of the population lives in your country. Your taxes mean nothing for the other 96%, relax.

It's the 4% that count, tho.  Which irrelevant backwater are you from?

It is indeed, but it is a negative count. When the US economy inevitably hyperinflates, defaults or leads to a war that makes WWII look like a firecracker, you will be the source of it all.

^
So which God-forsaken hellhole are you from, bro?  I hear you crying out for justice and democracy, and we're gassing up the drones to bring them to you, but I need some GPS data first, 'coz I don't wanna send this democracy to the wrong place.

Make sure to post actual GPS data so I could punch it in, 'coz I don't know every armpitty podunk backwater in the world, and Googling is a pain. Who got time for that?
  ~Hang tight!

http://s1.postimg.org/kg7q9ayz3/Capture.jpg

perma bulls are people that always say that the prices are going to rise and we are going to the moon, no matter the facts and what is happening

Well put. Bye bye perma bulls... Go find another digital fairydust to pump and dump

If the price of one bitcoin were to reach $10k or more, it would mean the USD had entered hyperinflation mode. The purchasing power of one bitcoin wouldn't be much higher than it is today. You wouldn't be wealthy by any Western standard.

Anyway: Bitcoin is still massively overvalued, and double digits will come soon enough.

Thank you.

You sure?

http://media.treehugger.com/assets/images/2012/03/Food_aid.png

And when the US can no longer afford to pretend that the economy is doing fine, what will happen to all those dependent countries? It's just setting things up to become even more messy in the long run.

You'll have to finally get a job :-\

The thing is, your providing an unneeded service. I have been buying and using bitcoins since they were $0.70. I have never lost any money and if bitcoin went away tomorrow I would walk away having been wildly financially successful. You say that people like me are just sour because we didn't sell at the high.  But I have never and will never sell a bitcoin. I use bitcoin to buy gold bars, guns, land, travel, cars, etc. I don't want or need dollars. I have a bunch of those also from ignoring FUD in other markets.

Bitcoin is a long option to a better world with infinite maturity and zero time value.

If a better world comes, it will be so valuable.
If a worse world comes instead, I think it will also be very valuable  :D

I am holding.

Ahh, voices of reason.

Buy, hold, spend.

Bitcoin has made money for many, myself included.  Just as those who buy into a pyramid scheme early, and divest in time, get rich.
It's the "divest in time" bit that you seem to be (intentionally?) ignoring.

If not for the n00b money which poured into Bitcoin before the crash, your stash would be worthless, because math.  If people continue to sell, the price will continue to tank.
Of course it's in your best interest to maintain the illusion that all's well :-\

https://i.imgur.com/eIfS5ES.gif

Unlike you I see no reason whatsoever to think bitcoin is going to be worth less in the future. A ponzi is not based on anything and it's assets have no utility or value. Bitcoin is the single greatest development in payments since the credit card. There is nothing faster, cheaper, or more secure.
Bitcoin has already succeeded wildly, beyond what I would have imagined. That is no surprise considering it's advantages over other payments. It's all I use now.  So when you say I'm ignoring the divestment phase, well I will not be divesting. Unless SHA 256 is broken or something, I will use bitcoin as my money forever.

I'm tired of hearing the same tripe regurgitated.

-Bitcoin is tremendously slow.  You aren't new to this, I'm sure you know how long six confirms take.  
A CC transaction takes seconds.
So much for "fast."

-A CC transaction costs the consumer zilch.  I also get to flyer miles as perks.  The argument "the CC fee is already a part of the price" is valid, but opens Bitcoin to an identical one--the miners are compensated for processing transactions with block rewards, currently over 10% BTC market cap per year.
So much for "cheap."

-More secure?  How much of Bitcoin's market cap was lost to theft/hacks/scams?  Start with Mt.Gox.
Bitcoin user has absolutely no recourse when his coin magically vanishes--due to his stupidity or maleficence of others.
CC, on the other hand, offers real buyer protection.
So much for "secure."

Unfortunately this is very true atm.
I'd love to just keep all my BTC safely online in a wallet but I can't because there's loads of scumbag hackers stealing peoples hard earned coins.
Paper wallets are annoying but it's the way we have to go.

I don't think you understand how credit cards work. It takes 2-30 days for a credit card to clear, sometimes longer. The retailer receives a promise to pay immediately, but no money. Like checks and the like, identity must be confirmed and that takes at least days. Oh, and because sometimes the identity is fake, you must pay to subsidize the criminals who use the cards also. You don't think that insurance is free do you? 

MasterCard did not get rich writing checks, they charge you for using their services. And man are they rich. Where did that money come from? Well the retailer has to pay 3%, and that is passed to you, of course. They also make huge money from interest and a million hidden fees. No thanks. I will control my own money and pay only a fee to the miners. That's fine with me as the price is silly low and they are doing something for me.
How much was lost in bank robberies this year? Are dollars safe?
If people are not safe with money, someone will take it. Is that your point? If so I agree.
Credit cards offer insurance, which is paid for by you and the retailer. That is not protection. Hell I could buy insurance for bitcoin.

I'm on my 3rd. card this year! MasterCard has proven to me that they CAN'T keep my financial information safe. Fortunately, with bitcoin I control my security and I have never lost a Satoshi.

 True, actually bitcoin is NOT the fastest , the cheapest or offer best anonimity

What happened to Monero?

As a consumer, I do not have to wait more than a few seconds to transact via CC.  The rest of your reply has nothing to do with speed--the point being addressed--and thus irrelevant.


Again, as a consumer, I don't care how much credit card companies make--using CC costs me nothing.  Re. "hidden fees":  Kindly review what you are responding to, the point was addressed.


Regardless of how CCs accomplish security & how much it costs, this security both exists and is superior to that offered by BTC, which is none.  Existent security is what you're attempting to address.
But I'll humor you:
If you buy insurance for Bitcoin, odds are ~95% that you are being ripped off, see:  all the "insured" Pirate@40 passthroughs.
Further, your argument is absurd on its face:  For insurance to be meaningful, there must be a trusted third party--the very thing Bitcoin was created to avoid.


You went through three CC this year?  But you said you use BTC?  https://i.imgur.com/2tzJFDz.gif

Compare apples to apples.  Transactions appear (unconfirmed) almost instantly.  Every time I have made a purchase using bitcoin it goes through virtually instantly - and I can happily go on my way.  Confirmations, OTOH, could take up to an hour on average.  So instant=instant (consumer), 1 hr=/=2-30 days (merchant).


Yes, there is minimal cost to consumer for BTC, vs no noticeable cost for a CC.  However, there are MANY small businesses that do not (want) to take credit cards due to high fees.  They will either encourage you to pay with cash, or simply not accept it for small transaction amounts.  So, you are left with cash as the only alternative.  Great, if you have it.  But you know what?  I can always access my bitcoin wallet on my smartphone.  And I don't wind up with a heavy pile of coins for change.

Oh, and that 10% "inflation" that you are referring to, is constantly getting smaller.  Funny how the purchasing power of BTC has gone up over time (with few exceptions), while the value of a dollar in my pocket has gone down... and down... and down. 


Again, apples to apples.  For bitcoin itself, there were no thefts, hacks or scams.  Some businesses and users in the bitcoin world ripped off people - exactly the same way some businesses using dollars or CCs ripped off users.  CC numbers are ROUTINELY stolen, and money - well, governments are still trying to come up with a way to make it counterfeit-proof.   So the medium is MUCH safer.  With Bitcoin, use a multi-signature wallet and most of those other problems go away.  Except for user stupidity - nothing there unique to Bitcoin. 

The biggest problem Bitcoin has right now is that it is still difficult for most people to use.  I will grant that.  No different than many other new technologies.

So, is it faster, cheaper and more secure? 
Faster - yes. 
Cheaper?  To merchants, yes, and to everyone else, at the end of the day, yes (though most people won't realize it is saving them money since it's happening behind the scenes). 
More secure?  Technologically - absolutely.   

You must have been using a payment processor like OKCoin or Coinbase, that's why.  The "CC have hidden fees & 1 hr=/=2-30 days (merchant)" argument applies in this case.


Since you went all-caps on the word "MANY," I feel I should address this first:  Did you know that there are MANY companies, both large and small, that do not accept BTC?
Well, now you know.


If you're doing cash transactions and get a heavy pile of change, I can only assume you're not shopping online.  There are no brick & mortar Bitcoin retailers anywhere near where I live, which sort'a wipes out the convenience of using my smartphone :(


That's what the dollar is meant to do.  Learn basic economics.  To compensate for inflation, salaries also go up even faster.


Yes, CC #s get stolen, and even when it's clearly your fault, the credit card company reimburses you for your loss.  That's what "security" means.
Arguing that "the technology itself is secure" is meaningless--we're talking about IRL scenarios, not an idealized situation where the user does everything right, is vigilant and well-versed in security procedures, and never makes a mistake.
CC protect you regardless of the human factor involved.

Bitcoin has lost a significant percentage of total coins mined to theft & hacks.  The users also have no recourse if they get ripped off, unless they run to the nanny state they bitch about so often & said nanny state chooses to help the hapless ungrateful goofs.

Regarding paying with Bitcoin, merchant adoption etc., etc, let's look at reality.
Dell is the hobbyhorse that often gets trotted out when merchant adoption is brought up.  Let's check what actually happens & how instantaneous it is:


Taken from http://www.dell.com/learn/us/en/uscorp1/campaigns/bitcoin-terms-and-conditions

Is this suppose to be a bear statment?  You mean they cannot call bitcoin and demand they steal the bitcoin from my account and put it into theirs because they feel what they bought did not meat their standards?!?!?!?!

No.
It is supposed to show that Bitcoin transactions are slow & that merchant who accept Bitcoin actually accept fiat.
If there's something else you don't understand, don't hesitate to ask.

Again, apples to apples.  Yes, the merchants I have purchased from have used a processor (BitPay in fact, is what I remember).  Which is why, as I said, the transaction for me, the consumer, was instantaneous.  It was an online transaction, so the moment it went through I was free to go on with my day.  Which is why I used it to illustrate it was just as fast for the customer as a CC online.  Oh, and the 'verified by visa' crap my wife had to deal with took significantly longer, since we had to enrol in the program at that moment.  And in future times it is yet one more password to have to remember.

I have not had the pleasure of using bitcoin directly with a merchant to their wallet (by when the processors only charge them a 1% (or no) fee, why would they bother?  The can still get bitcoin into their wallet at the end of the day...).  But regardless, the transaction will show up immediately in the p2p network.


Yes I am well aware.  The number that do is increasing every day.   This is just one example of it following the same trend that websites did.  For the longest time, back in the 90s and early 2000s many companies had no websites, and personally I found it a pain then when I couldn't go online to find out more information.  Similar now to how I wish the small companies (and many big ones) would accept bitcoin at the checkout counter, so I could use it more.  My point is that many want to, and either don't know about it, don't understand it, or don't have access to the knowledge currently required to accept it.  But, that will change.  And this will affect the convenience factor.  For the merchant, it will be a bonus.  And if they have their coin processed through a processor for a minimal fee, then they can remove some of those steps.  Again, this will be very convenient for me, much more so than cash.


And there are none near me right now, either.  Hopefully that will change.  I personally can't wait for the day.  Electronic cash is certainly easier than physical cash, and using bitcoin would be cheaper than using Interac debit, which would cost me about $0.30 for small purchases (again, if retailers would do it at all).  Many need at least a $5 minimum transaction in order to accept Interac.


I understand that.   I don't believe inflation is required, however, since not all salaries go up to match inflation.  In fact, mine has not kept up with inflation for at least the past 6 years.


The security of the technology IS important - if it were possible for someone to easily steal or counterfeit bitcoins that would be a big deal - but they can't.  And many experts have tried.  So it's important to realize that the weak point is not the technology, but the human factor.  And no more so than with other forms of digital payment.

So if you are careful with your bitcoins and treat them as securely as you would a handful of cash, then you shouldn't have a problem.  You won't have to worry about someone stealing the credit card database from a large retailer and then you having to replace your card.  Sure the CC company will cover the fraudulent transactions, but its still a pain in the butt.  Especially if you happen to be travelling and charging stuff on your CC when it gets denied.  Ever have that happen?  That's certainly not convenient.

There is no recourse if someone steals your coins, just as there is no recourse if someone steals your cash.  Which is why I say compare apples to apples.  Theft of electronic cash is the same as theft of physical cash - if you can catch the thieves they can be charged, but whether you get any cash back in your pocket at the end of the day is questionable at best.  If a company rips you off then again the company could be sued.

I don't think it is the subject of this thread, but:

- Monero is a leveraged bet on Bitcoin, and
- A hedge on Bitcoin.

It is not prudent to invest a large part of your wealth in Monero, because the probability that it will completely fail next year is at least 25%. The probability that Bitcoin will not see 2016 is at max 5%. Monero has much better +EV though.

Ohh we're still here.. Us permabulls have just been quiet counting our btc.

You are obviously new to the fact you don't *need* six confirms.


The cost to the consumer is only one half of 'cheap'.


PEBKAC. *Bitcoin* is secure.

if you are going to call someone out for posting 'tripe' you ought to be a bit more convincing in your rebuttal.

If you used a payment processor, you did not buy with Bitcoin.  What you did was find the most convoluted way of buying with fiat, something Rube Goldberg would be proud of.
It goes something like this:

Buy BTC with fiat, possibly pay fee.
Send BTC to the payment provider, who will
convert it to fiat & pay the merchant.

Such convenient.  Wow.


Regardless of what you believe will happen in the future, we're not talking about one of the possible ways for the probability wave to collapse.  We're talking now.
Now the number of merchants accepting BTC is nowhere near those accepting CC.


No, not all salaries keep up with inflation, because not communism.  Since yours hasn't, I suggest you get good.


So someone hacking into a server to get CC #s is the fault of CC technology?  Not a flaw in the overly technology or a lapse of security?  OK, but the consumer nonetheless doesn't lose his money, unlike the endless list of Bitcoin "hacks" from TF to Ukyo to Mt.Gox etc., etc., etc.

If you feel the inconvenience of dealing with the CC company is no worse than having all your money disappeared, I got nothing.


If you keep all of your money in cash, you're doing it wrong.  You probably keep all your coin in an online wallet with a freshly-registered domain & no ssl, amirite?

Get yourself a few CC and live like a twenty-first century human being :)

You do if you don't want to get screwed.  If Coinbase wants six, so do I :-\
Edit:

Taken from http://www.dell.com/learn/us/en/uscorp1/campaigns/bitcoin-terms-and-conditions


If you're going to reply to a post, have the decency to read through the thread to check if the issue was previously addressed.  It has, and though the bleeding heart liberal in me insist that I cater to the least of men, the pragmatist in me insists that I not bother.
If you still have questions after reading the thread several times, I'll apologise to my pragmatic half & explain shit to you.

https://i.imgur.com/K4EFcyH.gif

Hmm...I don't see anything 6 confirmations on Coinbase at Point of Sale:

https://www.coinbase.com/docs/merchant_tools/point_of_sale

Don't see anything about 6 confirmations on Coinkite Point of Sale, neither:

https://coinkite.com/faq/terminal



Oh well...fudsters gonna fud.

Here:

Taken from http://www.dell.com/learn/us/en/uscorp1/campaigns/bitcoin-terms-and-conditions

Do you understand what you just posted?  Transactions with Coinkite's CC are instantaneous, and the retailer is free to take any risk it wants when payments are made directly with BTC.
In other words, when you sell me something, you are free to not wait for any confirms, or even take my word that I'll send the BTC later--no skin off Coinkite's nose :D

you want 6? why, because you don't know any better? zero conf is a thing that someone as well informed as you should know about.


the parent said "its cheap" you added the caveat "For the consumer" then proceeded to disprove the parent based on your caveat. you did nothing to disprove the parents assertion that *its cheap*

^
Is Coinbase as ill-informed as I am?  Why don't they forgo waiting for confirms ???
Did you at least do your reading?

Actually, it was very convenient.  And in fact I did pay with bitcoins - that I mined.   If the merchant chooses to keep those as bitcoins, then in fact there is zero fiat involved.  One of the merchants was bitcoinshop, which I believe did indeed keep the coins as such.  It really irks me all these people who are like "you used a payment processor so you didn't really use bitcoin".  Well, my bitcoin balance on the wallet went down by the amount I used, and I received something in return, so to me - I paid in bitcoin.  Where those coins came from is irrelevant to that fact.

Oh, and in fact for other purchases I did actually saved more money - but maybe that's inconvenient for you.  Here's what I did, since the opportunity was there:

Buy BTC with CAD. 
Spend BTC on item (price converted from USD)
Benefit from difference in BTC exchange rate AND USD/CAD exchange rate.
Result - saved myself 15-20% on the purchase price.  Bonus: didn't have to use my CC number again on the internet.


Now that is a humorous argument!  Don't use something until it's ubiquitous.  Well, I guess if you want to live in the dark ages, that's fine.


Get good... what?


Wait... so you're saying CCs are safe even though companies involved get hacked... uh, yeah...  The fact that CC companies will reimburse consumers clearly says something about how much fees they collect.  Oh, and there are documented cases of hacks on bitcoin companies where the company did actually reimburse the customers, so don't say it doesn't happen.


Where did I say I keep all my money in cash?  That's some serious clutching so got going there...

I will admit that I like CCs for some things - I always pay my bill when it comes, and don't do cash withdrawals on the card, so they don't collect from me directly.  I get points for using the card, but of course these types of reward cards hurt the merchants even more with higher fees.  The day is coming when these "perks" are going to be going away from the cards, mark my words.  For now I am happy with them, but they won't last forever.  The CC companies see the competition, so they will have to adapt.

I personally like when I can pay with Bitcoin and not have to dig out my CC once again.  You may find it funny, but not giving out more information actually makes me feel safer.

Forgive me.  I forgot some of the steps in your Goldbergian scheme.  Allow me to rectify:

Buy mining gear with fiat
Buy electricity with fiat
Waste time mining Bitcoin you could have bought for significantly less fiat.
Send BTC to the payment provider, who will
convert it to fiat & pay the merchant.

There.  I think we're good now.

Contrary to what your salary failing to keep up with inflation (for 6 years!) would suggest, you're a smart & capable guy who clearly don't need no help from me or no grownup.  You'll do just fine all by yourself.  

  ~Happy Investing!

Best post I've seen - should win an award!   ;D

6 confirms is no guarantee. its just an arbitrary 'acceptable risk' metric that coinbase has chosen. It could just as well be 4 or 13 or 2.

However, if you grok zeroconf, you'll see why it can quite satisfactorily be zero.

If you are receiving a million dollars from an untrusted third party then sure, you might decide you want, say 10 confirmations.

If you are sending $100 to your mate, or buying a coffee, or transferring from your savings paper wallet to your spending bread wallet, or surfing silk road 2 or 3 or whatever its up to now... all of these are pretty much 100% candidates for zeroconf i.e. within seconds you can be sure enough.

In fairness though, there are a whole bunch of use cases in between. That is where it comes down to a bit of personal preference, if you look at a comparable (amount/trust) transaction in the existing monetary system then I would say btc is pretty compelling in terms of speed, though of course you may disagree!

You can insist that you want 6 confirms for *every* transaction, but I don't think its fair to claim that its absolutely necessary, and that this negates the 'bitcoin is fast' argument.

If you draw the chart of "confidence transaction is legit" vs time, even the first confirmation adds relatively little to the already high probability that the transaction is just fine.

Comparable to the chance your $100 bill is fake? Or that you aren't going to get a chargeback? or that a check is going to bounce?

I dunno but it wouldn't surprise me if zeroconf came out ahead in terms of risk. *shrugs*

because Lambtroll likes drawings

https://i.imgur.com/FN9yg5t.png

thanks brg444. pix = happen ;)

 :D Ha ha ha!  That's great - love it.

Well, keep believing your view of things, and I'll stick with the truth.  In the end, I actually enjoyed this exchange - kinda surprised me.  Thanks for the rebuttals.

Cheers...

You can ignore this again if you want, but I'll just leave it here because it states how long IRL Bitcoin transactions take.
This text is taken from the Dell website.  Dell is a merchant "accepting Bitcoin."  Can you think of a better example?  I won't even dwell on the fact that Dell actually accepts cash--it's Dell's payment processor, Coinbase, that accepts Bitcoin.  
One final word:  Keep your eyes peeled for the the emboldened, red text--it might be something relevant!
Here we go now:


Just in case you missed it, here it is again:

"it may take an hour or longer for the Bitcoin network to fully verify the transaction. A transaction is not complete until it is fully verified."

Both Dell and Coinbase could benefit greatly from your expertise, and it is your civic duty to call them without delay!
Whatever you do, don't let some dumb secretary hanging up dissuade you from completing your quest!  Let them laugh, sgbett, but dial again and again!
Godspeed!

I like how LambFuckChop eventually turns every single thread here into his own personal soapbox.

No one here gives 2 fks what you think LambieFucktard, so please go away.

^How about a hug, bro?

http://s21.postimg.org/z6q8gxg87/Pope_Benedict_XVI.jpg

guys this shit thread started with some intelligent comments but went out of hand quickly. lol

You are such rednecks, people.

http://www.mx-forum.de/userpix/8274_der_letzte_lude_03_1.jpg

the credit card shill is the best really  :D

summary of btctalk:
trolls trolling trolls

What's the point of this? Everyone involved in the last few pages have been around long enough to know all the arguments and counterarguments being thrown around. This isn't a discussion about technology and facts, it's just fighting for its own sake.

Don't blame everyone for one silly little troll.

Mind you, they don't need to quote her.

Anyone knowingly feeding a troll is guilty of the trolls trollery. Which is why they have taken over this little corner of the net.

You bulls don't know how to have a real conversation... You just bash and bash while the price goes down and down

http://i664.photobucket.com/albums/vv10/JimboToronto/chart12a.jpg (http://s664.photobucket.com/user/JimboToronto/media/chart12a.jpg.html)

Down and down? More like up and down.

So you are calling the bottom at 275???
Just like you did at 800 & 600 right lmfao...
Please understand we still didn't break the $500+ coin that was needed to break the downtrend... Even with that huge manipulation to 470!
We are still on a short term heavy downtrend from 685 & a long term down trend all year since the $1,100+ shameful manipulation that still has many convinced BTC is god

^
this

the first one to shut up when price actually rises is me, but this shit does not rise anytime soon and people around here look at it like blasphemy if you say it's going lower still.

As the guy in this Bitcoin video said: https://www.youtube.com/watch?v=Qlydjg1tiso
To succeed in life it's not enough to be stupid, you also need to have good manners :)
I guess good manners aren't common around these parts.

What coinbase and dell do is their business.

Posting the same thing (which incidentally is an argument from authority) without reading what *I* posted, after calling out other people for not reading? thats not smart.

You even failed to understand the pretty pictures that brg444 posted - your native language.

you keep using the red sentence, which contains the assertion "fully verified". You think that means something, but if your google fu was up to it you'd know that "fully verified" is an arbitrary definition, based on math. It's a function of assumed network conditions and acceptable risk.

This is *exactly* what i stated in my prior post. That you ignored, or didn't understand, or don't care to acknowledge because you just want a fight OTI?

it would be so nice to have the ignore function working in a way that it would automatically *snip* the ignored contend, even if quoted.

What is it about "we're discussing how things are, not how they could be" that's so difficult for you to grasp?  You are trying to defend RodeoX's lulzy claim, here:


I pointed out that CC transactions are far faster than Bitcoin.
I gave you real life examples of how long BTC transactions take.
You and your buddy countered with how things could be, in theory.

I don't care how things could be in theory, RodeoX's claim didn't read:  "Bitcoin ... is utter shit for now, but, in theory, it could be awesome."  His claim was that Bitcoin IS faster.  It clearly is not.

In theory, both Communism and Christianity lead to righteousness and bliss.  Practice proves otherwise.

TL;DR:  If you'd like to discuss how good Bitcoin could theoretically become, let's level the playing field and discuss how good a Credit Card could become.  In theory.

NotLambchop tries to paint a picture like if you go online or in person and make a purchase you'll have to stand in place checking BlockChain.info or Bitcoin Core for like 1 hour before you can go on your merry way.

Major failure.

It's the same as if you use your precious Mastercard or Visa or AMEX.  Soon as it's verified, you're on your merry way.  Could be a few seconds to a minute or so.  I know.  I've bought things with Bitcoin, bought Bitcoin through LocalBitcoins, bought miners from Bitmaintech with Bitcoin.

NotLambchop doesn't know WTF he's talking about.

Anyways...good luck with that credit card charge that takes 1 to 2 days to fully confirm:

http://usa.visa.com/merchants/become-a-merchant/how-a-visa-transaction-works.jsp


Also, make sure if you do alot of banking, just make sure it's not Chase:

http://dealbook.nytimes.com/2014/10/02/jpmorgan-discovers-further-cyber-security-issues/

Also, if you happen to shop at Target or Target.com, maybe lay off the plastic:

http://www.businessweek.com/articles/2014-03-13/target-missed-alarms-in-epic-hack-of-credit-card-data




(Drops mic...awaits pointless gif)

You did and that is what I disagree with, right now, not in some imagined future scenario that you have invented.

As we keep pointing out to you, BTC transactions are fast (right now).


No you didn't, you told us how many confirmations coinbase and dell want before *they* consider the BTC to be "fully verified", which as has been pointed out is an arbitrary measure.

That is not the same as "how long BTC transactions take". BTC transactions take seconds (right now).

Here is something that is not theoretical, but how bitcoin is already being used in practice i.e. right now.

Why don't you time it...

https://vimeo.com/114076370

Do not blink. You will miss it.

I don't care if some guy accepts BTC without any confirms, I'm interested in how DELL, A REAL RETAILER THAT ALLEGEDLY ACCEPTS BITCOIN, does it.
Thanks for the link to a shit video that no one watched, for bonus points try Rickrolling me next time.
Like dealing with sullen, differently-enabled children I swear grumble, grumble...

Back on topic, permabulls lost control over this section & more bulls will continue to become bears everyday that passes.

I do NOT want to have to quote Warren Buffett here but what he said really is true & since buying at the bottom (that nobody would admit was a bottom) was the way I got rich in stocks I can't deny at ALL that when nobody want's to invest in solid assests with a good track record... It is in fact the best time to buy in.

Of course you want to change the subject, because you've realised that trying to maintain "bitcoin isn't fast" is a bit silly when you just saw it happen in < 2 seconds.

Parent said bitcoin is fast. You said it wasn't. Video proves it is. Your hard on for Dell is neither here nor there.

How is it that you remember to breathe?

https://i.imgur.com/K4EFcyH.gif

Time to break out the ignore button. Again.

Can you really be sure I am breathing? Do you have 6 confirmations? What does Dell have to say about it?

Bulltrolls are the worst ::)

Hahaha it's hilarious how this entire place is now a trollfest run by bears. Guys obviously upset they lost a lot of money, missed and opportunity or just have some weird agenda against bitcoin.


This kind of attitude tells me there's good things in the horizon. Still buying, it's worth the risk imo... and people here who make radical claims don't know shit.

someone sounds a little angry.

name: homo
status: Newbie
activity: 0
friends: none
hobbies: dick

Ignore button: activated

he is indeed a bit tense  ::)
hate me for being right.
thanks for the warm welcome.

^ People are really mad bitcoin is down 70%
You must understand everytime these guys buy more bitcoin & are happy to bring their "cost-average" per coin down BTC goes down again and they have to do it again and again and again...
Cut these people some slack, you would need it too if you bought every dip since $1,100+  :'(

Another permabull, checking in. Still entirely in bitcoin, still living almost exclusively on it since June of 2013, still using it to buy all my groceries and stuff, and still converting all the cash I get into bitcoin.

Bitcoin fundamentals haven't changed. It's still better, faster, and more convenient than dollars or credit cards. Dollar, Euro, and Yuan fundamentals, on the other hand, are continuing to change, for the worse. So  :P

...and on SALE!: 2/3rds off!!!  Buy buy buy!

http://s22.postimg.org/75etcy34h/lucky.gif

No it's not! It's AT LEAST 35 times more expensive for me now.

^Then you're getting ripped off--common in Bitcoin :(

Not at the moment, hopefully that will change over the next few years

Have you ever paid for something in person with bitcoins?

Sooo easy

It sure is. The restaurant near my house has a QR code at the register. Just point-click-paid. 

what a great week it's been!

so happy to be back in bitcoin for the long haul.
while some were busy posting chinese bitcoin cartoons everywhere I had a chance to pick up lots of cheap coins.

i do hope business picks up for them; looks like they have an online posting addiction that is eating away at their time from both ends. 

Or you can bypass buying BTC with fiat--for the thrill & novelty of spending it at [an exceedingly rare] place which actually accepts it.

Rube Goldberg's dead, shit ain't funny no more.

Hello newfriend!  Welcome to Bitcointalk.  And whose shitty sock might you be?

i loled

*cough *cough

OP here.

It's not i didn't forecast this ... my threads are not just blind trolling. I am in fact competent. I have a long trackrecord of accurate calls.
And i am not influenced by the gospel of the permabulls. I trade according to numbers only.

Bitcoin will not rise anytime soon.

Thanks for the heads up, bruh!

Glad you started this thread, very informative analysis by a smalltimer.

Need more bearish traders like yourself to set everybody straight.

I pay for groceries by showing the cashier a bar code on my phone, and having them scan it with their scanner. Takes a second, and I'm on my way out. Paying for things online is way easier, too. Just point and scan, instead of dig through wallet for a card, enter lots of details, etc.

Forget about having zero protection with BTC rather than with a Credit Card...
but some how you're trying to tell me point and scan is better or somehow faster than just swiping??

Uhm, you better have some kick ass protection on your credit card when you swipe at Target or Home Depot, or that personal info is being sold off like a muthF#ka:

http://www.businessweek.com/articles/2014-09-02/home-depots-credit-card-breach-looks-just-like-the-target-hack

None of this breach stuff on Bitcoin.

Lol, when CC get hax0rd, none of my money is lost.  When Bitcoin gets [allegedly] haxord... well, MtGox :D

http://s4.postimg.org/5hr9q6ix9/durr.jpg

Target = 40 Million Stolen Credit Cards

http://www.businessweek.com/articles/2014-03-13/target-missed-alarms-in-epic-hack-of-credit-card-data

Home Depot = 56 Million Stolen Credit Cards

http://www.wsj.com/articles/home-depot-breach-bigger-than-targets-1411073571

JP Morgan Chase = 76 Million Households

http://dealbook.nytimes.com/2014/10/02/jpmorgan-discovers-further-cyber-security-issues/?_r=0

Sorry NotLambChop, you fail again!

^
Total cardholders' money lost: ZERO

Keep tryin' bro :D

Yup, instead of a few bucks, your whole identity, social security #, home address, phone numbers, email etc being auctioned off like a cheap whore to the highest bidder to do even bigger damage.

Don't need to keep tryin' bro, already succeeded.   ;D

Lol, everyone knows where I live, my landline's listed.
Not a big deal for me if that info's leaked, as long as my money's safe.  Which it is.  Guaranteed. 8)

i'm not a permabull, but i'm bitcoin hodler!!

If you hodler, then you believe BTC price you reach moon, no matter what the current news, then your behavior is no different from a perma bull

How can you swipe on the internet?


Not exactly. Do you still shop and use your credit cards? Then you are losing more money. Who do you thinkcom takes the hit on stolen credit cards being used to buy stuff? The credit card companies? Nope. It's the merchants. If a thief uses your card to buy something, and you report your card stolen, the credit card company simply yanks that money out of the merchant's bank account. They don't go after the thief, or pay for the loss themselves. And the merchant has to make that money back somehow, so they do it by raising prices on everything in the store. The average annual loss to merchants from credit card theft is about 3%. That means stuff you pay for is 3% more expensive. So, take the total that you spend with credit cards every year, multiply that by 3%, and that's how much you and cardholders lost (for example, if you spend $1,000 a month, you lost $360 in a year).

Coincidentally, when I shop with bitcoin, I get discounts of 3% (and up to 10% sometimes) on everything I buy. So the reality is that cardholders are the ones actually losing money from theft, and I'm not.

^
A list of things you got wrong, in loosely chronological order:

>Who do you thinkcom takes the hit on stolen credit cards
"Card issuers and merchants incurred 63% and 37% of those losses"
(Source: Nilson Report, August 2013)

>The average annual loss to merchants from credit card theft is about 3%.
No.  "During 2012 credit card and debit card gross fraud losses accounted for roughly 5.22₵ per $100 in total volume, up from 5.07₵ per $100 in 2011.
(Source: Nilson Report, August 2013)

>for example, if you spend $1,000 a month, you lost $360 in a year
5.22₵ per $100 = 52.2₵ per $1,000 = $6.26 per year
(Source: math)

>when I shop with bitcoin, I get discounts of 3%
No.  You get a 3% discount from a limited list of retailers who accept cash through the payment processor you use.  You also do not get the buyer protection you [falsely] claimed costs me 3%.
(Source: fact)

  ~Happy Investing!

Saving 3% shopping with BTC when you can lose 50%-70% of its purchasing power in one year by hodling it? Sounds great.

http://oneyearbitcoin.info/

How much do they pay you? Serious question, nobody spend so much time posting on a btc forum if he did not believe in it.

I don't have to swipe on the internet or scan a barcode like I am a cashier... I simply put in my login info, tell  them what I pay, and they ship it to my house.
Like with everything linked to credit cards... PAYMENT IS SEAMLESS!!!

Uh, what do you mean?

https://i.imgur.com/UgLGjzL.png

Are you aware Bitcoin will be up again by this time next year? What are you going to do by then? all your posts will be here for people to see.

LMFAO! Do not make me quote all you guys talking about $100,000 per coin $10,000 per coin then you guys saying we will be back to $1,000 soon!!! Remember all those annoying spammy post you bull trolls used to make??? Those retarded non educated post have cost normal people millions of dollars already collectively. You idiots even posted the entire way down at 999,900,800,700,600,500,400,now even 350 you idiots talk about out post remaining on this forum. All of you lost credibility since January, nobody listens to you bulls, people come here for FACTS not hope.

But...the cat..?

The cat is actually very significant! Almost like a unicorn... The cat has a weird digital coin shaped body... shitting out & selling mystical rainbows to whoever is dumb enough to buy & follow along

Ok to be fair not all of us are here as bald speculators. Some of us are interested in things like Multi-Signature escrow, decentralized units of non-physical value, capital controls, mystical cat memes...

Gold dumped pretty hard too there for a while, if you recall:

http://www.quickmeme.com/img/50/50228c6bf30923a2c5e6550179a8b12e3bf787fd22611d290e442715d5fc3e18.jpg

Edit: Re: capital controls: try crossing an international border with a pound of gold inside your cat. See how far that gets you

Wow you must really think gold has stopped going down lmfao... That's what you think about bitcoin too??? Bouncing off the bottom huh???
LOL! If you don't want to speculate & just want to say "2 DA MOON" then go to a different section.
No wonder you guys are so broke, the facts are in front of you, & you still continue to think you're smarter hahahhahh

Stop posting pictures hoping to cover facts!

There are facts under that picture ???

Internet forums are wonderful things aren't they? You can noisily fill the forum up with lies about being a millionaire trader and accuse others of being broke. While ironically this forum is chock full of actual millionaires, many enriched by the very financial instrument you try and bash so badly. You really are a sad little creature!

That's the great thing about being a millionaire trader.

You've got lots of free time to spend all day spamming FUD on forums and telling everybody how rich and successful you are.

Quite. That means NotLambChop is worth tens of millions!

Come to think of it, this must be the most millionaire-stuffed forum on the whole Internet !

Who, me?  I just came here to learn about space exploration.  How's that moonshot of yours progressing, all good?

http://s1.postimg.org/yqwm5he0f/moontin.jpg

I think he was an early adopter. Now he is trolling us for our own good...because of our evil

LMFAO exactly! I only wrote a few papers today and paid some bills.. I got into my businesses a few times per week each. That;s really all that it needed.
Now I trade bitcoin and have made a killing off every deflating bubble. I did buy early enough to make lotssss off of Bitcoin. The difference between me and you guys is I know a bubble when I see one... I have traded thru many bubbles. I have been sucked into many throughout my life but none in the last 15years including this bitcoin bubble, I read it like a book. I don't need to prove I have millions, I slightly sway the market everyday & tell you guys before I do it (margin is a great thing)

You guys can continue to call the bottom like you have all year. We are making a killing off your dumb moves. Enjoy your digital coins while I enjoy my fiat in realtime

I'm not extinct. I am just reminded of a quote when dealing with bears here.

"A wise man told me not to argue with fools, because people from a distance can't tell who is who."

I am sorry I am counting this real cash & can't hear youuu  ;D

Permabulls are putting their money where their mouth is.
They will be laughing all the way to the bank when the next rally breaks out.

You say that now, but wait until that "real cash" is equivalent to Schrute Bucks when the economy goes in the shitter!   :D

http://img1.wikia.nocookie.net/__cb20091220194410/theoffice/images/f/fa/SchruteBuck.jpg

France had the "Franc", Italy had "lira", Spain "peseta".  All replaced by the Euro, which suffers nonstop financial and economic crisis after crisis it seems starting with the financial crisis in Greece a few years ago.

Only a matter of time before the US suffers a similiar crisis, and we'll have to turn to another form of currency...

Permabulls have no money left to put where their mouth is.  They spent it all on BTCeanie BTCabies Bitcoin a long time ago :-\

http://s18.postimg.org/ob2zm283d/bit11.gif

Only a matter of time...

http://ak.picdn.net/shutterstock/videos/1550110/preview/stock-footage-euro-financial-crisis-in-dominoes-tiles.jpg

http://www.whatamimissinghere.com/wp-content/uploads/2012/04/97262-European-Financial-Crisis-by-Luojie-China-Daily-China-515x292.jpg

http://images.china.cn/attachement/jpg/site1007/20080918/001372acd0b50a3befb801.jpg

http://cdn.thefiscaltimes.com/cdn/farfuture/hUugA63OkLCElGnswsxhSUN6njLqoabg812lB8YMd3E/mtime:1378418296/sites/default/files/styles/article_hero/public/articles/11082011_Bank_Bailout_article.jpg?itok=4jb-J8Ql

Yeah, been hearin' that gloomy bullshit most of my life.
Keep waiting for Satoshi to save you, bro.  I'll be laughing at you in the meantime :D

http://s27.postimg.org/4ti49q43n/1985_life_how_235_large.jpg

http://s21.postimg.org/7nn0hm053/e15_31.gif

http://s9.postimg.org/jh6qh08a7/bank.jpg

Ewww Banking so gross:

http://static3.businessinsider.com/image/4f0b34e4ecad04d535000054/dylan-ratigan-greedy-bastards.jpg

http://www.thethinkingblue.com/bankers.jpg

http://symonsez.files.wordpress.com/2009/09/bank-bailout.gif


Keep drinking the Bank's kool aid.  Let's see if they have your back when another mortgage crisis occurs.

FTFY :)

http://s3.postimg.org/8de8b0uab/jimjones.jpg

http://s30.postimg.org/mga0mgewx/bitcoin.jpg

There is a reason some people post X times a day on this thread and some people don't ;)

I note the irony in responding. The lack of argument is all I have on my side.

Bye bye bulls & all of their money!

Yeah, I remember the bubbles too. The internet bubble, the housing bubble... It's sad that after these bubbles, things like internet and housing are completely worthless and don't exist any more.

Oh, wait.

"According to the Startup the average e-commerce retailer loses 3.1% to fraud every year." (http://letstalkpayments.com/3-4-b-annual-fraud-losses-due-chargebacks-reversals-signifyd-can-help/)
"LexisNexis published a survey according to which in 2013, an average merchant lost about .68 percent of annual income to fraud. A merchant has to pay around $3.08 on each dollar to replace the losses, penalties and chargeback fees.” (http://www.forbes.com/sites/quickerbettertech/2014/09/22/why-the-home-depot-breach-is-worse-than-you-think/)

I'm going to stick with my 3% average annual loss to fraud number. Meaning $360 a year, like I said, and not $6.26.


They accept bitcoin. I don't care what they do with that bitcoin once they get it, and nor should I. Yes, the number of merchants who accept bitcoin right now is limited. So what? That number is growing, and I suspect so will the options where I can get discounts. Plus, despite that number of merchants being limited, I can buy literally everything I need with bitcoins, at that discount.


Yes. Because I don't need it. There is no risk of my bitcoins being stolen from me using them to pay a merchant, unlike if I was using a credit card. So why do I need it?

I offer the Nilson Report as source, you offer a blog post pimping a business by some Bitcoiner ::)
About the author :D
"Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading & Blogging with focus on New Innovation, Technology & Startups in the Payments Space."

No reason to try to reason with NotLambChop. He is trolling on a quest to be ignored by every single user of bitcointalk. By quoting you remind us all why we put him on ignore many months ago.

When logic and reason turn against you, type "troll" and they'll vanish.  Works every time :-\

GG bro.

NotLambchop: "This user is currently ignored."  :D

^Amazing ::)

http://s17.postimg.org/u1v896qb3/Capture.jpghttp://s17.postimg.org/u0ktwe7jj/Capture.jpg

Welcome to the world of no yapping chihuahuas and screaming rugrats.   ;D

Bitcoin will be worth over $100,000 each in under 7 years!
Long live the huge bull market, and no "small minds" on public forums will have any real impact.

I didn't even notice the thing about the author. Note I also provided a LexisNexis report, and the original source that I found this out from, the link I can't find anymore, was from Forbes, which I corroborated by checking other links at the time. Trust me, loss to credit card fraud is 3%, not 0.05%

If I trusted you, citing your sources would not be necessary.  I do not trust you.  Neither in being unbiased, nor in your ability to interpret data.  I don't even trust your math.  Let's see:

Assuming this is correct, and $1 lost to fraud winds up costing the merchant $3.08 (~x3), we get ".68 percent" * 3 = 2.04%. Two percent.  Not three.

TL;DR: Everything I bothered to verify wound up being either laughable or laughably inaccurate.  

This user is currently ignored. This user is currently ignored. lol.

In just the past 24hrs, ignoring my advice has cost you ~5%, or 2% more than CC fraud losses, according to Rassah.
Stay proud of your ignorance, Bitcoiner.  Everyone needs something to be proud of!

http://i1-news.softpedia-static.com/images/news2/Humans-May-Be-Fueling-a-New-Mass-Extinction-Event-2.jpg

BOOM

Only because we had more good news. Time publishing now takes bitcoin too. Step 1, make bitcoin actually useful enough for normal people to bother obtaining, by making them be able to spend it on stuff. That will obviously drive down prices, since now early investors and hodlers can spend it on stuff. Step 2, now, is to get more normal people to adopt it. That's where merchant discounts (and currency controls by failing nations) come in.

Correct, we need to do our part as well & let more people know about bitcoin... www.KlipKeeper.com (http://www.KlipKeeper.com) we are doing our part with accepting bitcoin & at least letting people know about this coin & how well it works versus banks

LOL!!! So bitcoin is actually faster, more secure and cheaper than credit cards? And it has more utility than credit cards? And bitcoin is more widely adopted among merchants and consumers than credit cards?

Have you closed your eyes to the real world? What planet are you living on?

Bitcoin is a ridiculously slow, cumbersome, unsafe, user-unfriendly, crappy pyramid scheme technology -- and is viewed as such by the general public. People don't want it. They don't need it. That's why most miners, whales and early adopters are dumping. And that's why the price will continue falling until no one are left holding the bags -- except a few thousand child pornographers and drug addicts ... and four or five cultists.

The scariest part is not early adopters dumping bitcoin but stolen coins from gox and other hacked exchanges, and also the SilkRaoad coins. Imagine if all the coins get dumped, we'll hit $10 in the blink of an eye

TL;DR:  Your sources were trash, your math was wrong.  While we were having this chat, Bitcoin continued to tank, dropping in price by ~11%.

http://s23.postimg.org/mxofwve3v/Capture.jpg

Get past denial, time to move on.

Permabull here, certainly not extinct. Just on a looooong break from the forum because of all the trolls, I have so many people on ignore it's hardly worth reading anything.

Ignoring the advice of your betters is exactly what got you into this pitiable state.  I can't help you when you're unwilling to be helped :(

We're just too busy doing cool things to post much any more. 

Walking around in the jungle
https://i.imgur.com/B1ZpVdj.jpg

Checking out Iguazu Falls
https://i.imgur.com/7kefiaQ.jpg

Drinkin caipirinhas by the pool
https://i.imgur.com/u8mZAPA.jpg

Fuck winter, thank you, Bitcoin :)

It looks like we're staying stable at 310 support level, as long as we stay above that level we're still growing

But he's not ignoring the advice of his betters. He's continuing to invest, just like we suggested. He's only ignoring the advice of morons like you.

A furry suggesting insest?  How sick are you people?!

http://s13.postimg.org/9xmt0il9j/1391350314897.jpg

What pitiable state? I took profits about a year ago at ca. 1100 $ with an average cost of around 90 $ pr. BTC and got my initial investment back with a really nice surplus. If I sold the rest now I would still earn a pretty pile of cash, but of course I would never do such a stupid thing as selling my beloved BTC  ::)

What is the moral of this winning story, exactly?

Buy low, sell high?

Don't believe a word of it, brah.  You're not even smart enough to respond to the right post, and you're telling me you called the top @$1100?  Right :D
Besides, you prob'ly lost most of your coin on Gox, or by "investing" it into some other scam Bitcoin securities.
I know you Bitcoiners 8)

Stay here for several years and you will learn that 80% people do exactly the opposite. So yeah, it takes a genius to do a seemingly simple thing.

puming thread for the lulz

permabulls are either scammers shorting while being bullish or poor bastards loosing their shirts.

Also note the link in my signature

Bitcoin will fail, because the Internet is just a fad.. Don't believe me ?

Check out this 1995 Newsweek article explaining how useless and irrelevant the internet is..

http://www.newsweek.com/clifford-stoll-why-web-wont-be-nirvana-185306  (http://www.newsweek.com/clifford-stoll-why-web-wont-be-nirvana-185306)

Some of my favourite cast iron arguments from the author.

Visionaries see a future of telecommuting workers, interactive libraries and multimedia classrooms. They speak of electronic town meetings and virtual communities. Commerce and business will shift from offices and malls to networks and modems. And the freedom of digital networks will make government more democratic. Baloney. Do our computer pundits lack all common sense?

And you can’t tote that laptop to the beach.

The truth in no online database will replace your daily newspaper, no CD-ROM can take the place of a competent teacher and no computer network will change the way government works.

Nicholas Negroponte, director of the MIT Media Lab, predicts that we’ll soon buy books and newspapers straight over the Intenet. Uh, sure.

What the Internet hucksters won’t tell you is tht the Internet is one big ocean of unedited data, without any pretense of completeness.

These expensive toys are difficult to use in classrooms and require extensive teacher training.

Then there’s cyberbusiness. We’re promised instant catalog shopping–just point and click for great deals. We’ll order airline tickets over the network, make restaurant reservations and negotiate sales contracts. Stores will become obselete. So how come my local mall does more business in an afternoon than the entire Internet handles in a month?.

Even if there were a trustworthy way to send money over the Internet–which there isn’t–the network is missing a most essential ingredient of capitalism: salespeople.

I'm not sure whether "permabulls" are extinct, but there have always been individuals who resist innovation and change. They do so most vehemently, because their psychology requires a high need for structure which corresponds to a low need for cognition. Arguing with such individuals is useless as accepting they are wrong threatens their entire perception of reality. They have attempted to discourage the progress of humanity since time immemorial, and will continue to do so .

 

Your analogies that are supposed to pump the price are wrong I'm afraid.

Bitcoin is not like the internet
Bitcoin = dotcom bubble.

Yep, a bubble.

"Supposed to pump the price"... Assumption, which is wrong. Don't judge me by assuming that we share the same motivations.. Which speaks volumes about your mindset.

Internet = innovation.
Bitcoin = innovation.

It's funny thing you are 100% sure of yourself, that your viewpoint is unmalleable and infallible, like some ancient prophet you preach a undebatable truth, while I speak of possibilities..

Bitcoin has no advantage over low inflation altcoins which can hold their value. Bitcoin ends right here. Crypto is just about to begin.
Sorry for all who fell for the hype around that particular coin called 'Bitcoin'.

Man, why'd invest in this internet funny money.   :'(

Reminds me of Tulip mania and Nigerian princes...

http://static.cdn-seekingalpha.com/uploads/2013/3/30/683356-13646381593349972-Dan-Naumov.jpg


http://www.unadulteratedbs.com/wp-content/uploads/nigerian_prince.jpg

Permabull checking in, man does this feeling suck!  Year 6 is for sure in the shitter at this very moment.

I'll check back here in a week to see if we've reached $100. 

Is Bitcoin going to be as successful as that scam SexCoin you pimp on your avatar?  Can't do much worse, amirite? :D

http://s17.postimg.org/z8mykw7j3/Capture.jpg