Bitcoin Forum

Has anyone seen this website yet?

http://buttcoin.org/

It is quite funny. :)

I've seen it. Very silly.

Silly, but telling.

This is a widely held perception which will imperil bitcoin in this crucial incubatory phase.

It also shows to what degree the community has failed in honestly and clearly explaining what bitcoin is.

very nice, i like this chart  ;D

There is no evidence of any institutional investors participating in the market yet. Our software is still in beta. We are still the smart money. 

I appreciate good satire, but this site really doesn't run as far as it could with the concept. Comedy is hard, I guess.

He also fails to mention the cycle of new ideas/products that end up as world-changing events. They are first told it is impossible, then they are mocked and ridiculed, and finally given reluctant credit as the obvious implications unfold. Short-sighted people always find it easier to deconstruct something than do their own research into the plausible applications of something new.

As others have said, bitcoin as a first attempt may not succeed - but the fundamental idea of a crypto-currency will. I have a hunch it will be the right combination the first time, with successive refinements to the core idea as time goes on.

actually its you who doesnt get the concept of a bubble.  You are spouting the classic 'this time its different' line.  Everything you said can be perfectly true and still lead to a bubble, actually most bubbles are founded in very real and accurate logic.. 'tech is the future', 'god aint makin' anymore land' etc the problem is when price action accumulates years of "new paradigm" in a matter of a few weeks/months, and the collapse is not necessarily caused by the failure of a technology to live up to the promise, its true cause is PANIC, people simply can not watch millions of dollars go to 0 without selling, and no matter how intelligent a crowd is if a fire starts, they will trample each other to death.

This IS a bubble, and there will be a huge crash, but that DOES NOT mean that bitcoins are a failure, it will just take longer for it to happen.  I mean tech didnt go away.. eventually amazon.com did live up to the promise of 2001.  IT just didnt do it in in 3 weeks while the public was panic buying to get rich.


O

They must have sold all their coins @ $1.50.

As I said in another thread... taking a person or something's name and inserting a word like butt to try to make a joke is funny if you're 12.  I'm going to put myself out there and say that whoever put that site together has an IQ of maybe 80.

http://epguides.com/BeavisandButthead/cast.jpg

heh heh... buttcoin

pipe down on bubble rhetoric m8, neither public not institutional investors have not heard a pip about bitcoin yet. The chart on that site (which I BTW posted here on forum long before it got to that site) kind of demonstrates that this bubble still has long time to inflate further...

anyway Bitcoin is a singularity not just a bubble.

oh i agree... I'm not selling by any means.. im buying.. i think the price goes over 100$.. still early phase.  This is a bubble in its very early phase.. and even after it pops, there will be a dead cat bounce at which point i will sell.

Proof by assertion?

I assure you, I know what a bubble is, having actually traded futures during some turbulent periods in financial history. This isn't my first rodeo. In fact, the way that bitcoin has percolated up through various layers and groups in the internet before breaking into mainstream media has bolstered my confidence in it overall. It is the antithesis of anything peddled for 'get rich quick' value, as the pattern there is typically saturate every possible medium, then make off with the stolen goods.

As for predicting market action, I also have experience in this and all I can say conclusively (for now) is: Bitcoin is in an uptrend, so it is time to buy until it is not. I will maintain that stance until the market tells me otherwise.

For the record, I'm buying, and mining, because I believe that we're in the early phases of a bubble, and there's plenty of money to be made in bubbles.  Also, I think that buy-and-hold'ers will make money if they can weather the volatility.  But to those who are deluded that this is gonna be a smooth parabolic rise to the moon, NO.

(my belief, no proof).  To arguments about the validity of the mythos currently surroudn bitcoins, I say 'it doesnt matter - bubbles arent about logic, they're about greed and fear.. thats all'

and  i think fundamentally we're in agreement.. BUY BUY BUY!!!!

http://weusecarrots.com/

Somebody help me understand why somebody would go through the trouble of registering a domain and making a crappy website like that?

probably just to piss you off airdata

Nice butt. It turns me on.

it's the /. crowd.  they fancy themselves gods.

The interesting thing is that if you look at the so-called "mean" line, these guys are apparently bullish in the long run.

Oh Vladimir, you're so powerful, like a russian bear... you can just send a DMCA and they take down half that website's content :)

Because I thought it was funny ???

Butt not everyone agrees  ::)

The blowoff phase sounds wretched.

I posted this here:
Time for a hater sub-forum? (http://forum.bitcoin.org/index.php?topic=12314.msg171251#msg171251)

I think there should be at least a couple 'skeptic' subforums.  A bubble subforum, and a deflation subforum.

Obviously, the higher bitcoin goes the more of this we are going to see.  Skepticism is welcome, but its getting a little redundant.


Best retort in the fewest words.

Heh, I see what you did there

That site is funny. Because it's completely true. Everyone here knows it, they just don't want to admit it.

While the humor is entirely subjective, I'd disagree with it being 'true' and everyone 'knowing it'. All I know is bitcoin will outlast that site, by an order of magnitude. But if it keeps people from posting two-liner troll posts here, hey, go for it.

Satire is an expected outcome, especially when a new idea is introduced.

o ur just in denial admit it bitcoin will crash panic bubble sell sell dump etc etc

Here, let me translate that into something called 'english'.

"Oh, you're just in denial. Admit it, bitcoin will crash in a panic-fueled bubble, everyone selling and dumping their holdings, etc.."

I don't deny it is satire.

I don't deny that markets crash. I don't think this market will crash, but even if it did fall in value, I have my strategies in place to deal with it. Long term, I believe in the future of bitcoin, even if it is full of people like you who can't articulate their thoughts and criticisms properly, like adults do.

Keep trying, even statistically speaking you may assemble something resembling a coherent sentence by chance.

I dunno dude, it only cost me $8/year for the domain.

The average lifespan for a human being is 75 - 95 years.

I submit that bitcoin will be around long after your domain registration lapses.

ITT: We fail at sarcasm.

Just like you fail at... everything?

Does he fail at failing too?  ;D

oh ur just jelus of my sharp superiur witz ololol

ROFLCopter

WILL BUTTCOIN MAKE THEIR OWN BLOCKCHAIN??

HEY I'LL TRADE YOU 10,000 BUTTCOINS FOR A BITCOIN!

Hmmmm....DEAL!

lol

Bubble, bubble, bubble...

Wait, let me guess. You're a fish right?

        Well, at least BTC is not some "MMM" option (Russian forum users know what i am mean - it is a first massive ponzy sheme in post soviet Russia). First - number of options limited (nobody can print them in haste). Second - no promises of guaranteed profit. Any reasonable person, will told you that BTC is interesting, but you should not, place any money in it, that you can not afford to loose. Not because its a ponzy scheme or something, but because nobody knows all weak side`s of BTC`s.
       That is like first rocket launch, - every body full of hope, but nobody can guarantee anything.
In a strange way Bitcoins, in my twisted mind, was always associated with this old song -
http://www.youtube.com/watch?v=3mbBbFH9fAg

I assume that bitcoin will grow until the world is using it, how can it crash if it's the only currency?

How would we know if it crashed if it's the only currency, indeed...

Why can't this site stay on-line?  I rely on it to give me the obese aspie perspective on bitcoin.

edit: and it's back from 404

Can someone explain to me what "institutional investors" are? :) (nm, I found it on this site on the internet called google.com)

Also, buttcoin.com's awesome. ;)

Any non-individual making purchases. Basically investment groups, financial management sites, hedge funds, corporations, etc. Lots of $$$.

Dear buttcoin.org,

Nice effort.  It is a funny drama, I have to admit. 

And thanks for bursting the bubble.  A lot more could've gotten hurt (or rich).

Now permit me to add something about bubbles?

Quoting you: "Oil hasn’t crashed (it did, also in the 80′s)?" (http://buttcoin.org/a-moment-of-clarity-in-the-bitcoin-community)

And in 2008.

http://www.oiloilprice.com/charts-show.php?curr=CrudeOil-&days=1800

Bubble come, bubble go.  and Bubble come.

This is not the last you've seen of the Bitcoin Bubble.  Lucky you, you'll probably get the chance to do another "told you so" dance in the near future, when BTC falls from $100 to $30.

Of course, I could be wrong.  But the market will be right.  At the least, we can agree on that.

He wasn't trying to prove that oil didn't crash.  The point is that ***NEWSFLASH*** volatile markets are volatile!  There is a big difference between a bubble and thin-market volatility.  People who have little understanding of markets and even less understanding of monetary systems will call bitcoin a "bubble" or a "Ponzi" or any number of mediocre pejoratives they can think of just so they can remain comfortable in their own little worldview free from tyrannical governments and disruptive technologies.  And when their arguments grow desperate as reality sets in they will defend their delicate egos by resorting to childish name-calling. 

The rest of us meanwhile will take advantage of pullbacks when they come, sell when the price gets ahead of itself, and be thankful we can see the value in bitcoins that so many overlook. 

Listen, I don't know shit about markets. I don't own stock. But Oil had a boom and bust, Gold had a boom and bust, even Beanie Babies had a boom and bust. People lost money in all those instances when the bubbles in the respective industries burst (and looking at the breakneck price increase I don't know how you can call it anything but a bubble) and that's what I'm getting at. Bitcoin's current value is it's popularity, nothing more. The reason the price jumped up so quickly is because people went "bitcoins? what the" and jumped in. Also, "tyrannical governments and disruptive technologies", I'm sorry but a useless hash isn't going to topple the government anytime soon.


That's my writing style, I find it funny and your shit doesn't stink.


Your bitcoin is nothing more than a useless string of numbers that your video card farted out. I have a sock drawer filled with Coke Rewards Points that at least will get me a free Coke Zero.

My bitcoin will get me dollars, a lot more dollars than I paid for them (at the moment).  Maybe others are not so lucky.  They should probably just wait, like I did.

I would see your point if you think the string of numbers in your paypal/dwolla account, or the string of numbers of on your bank statement are equally useless.  I guess for some people it takes a leap of logic to understand that there are some strings of numbers which can get a person a lot of Coke Zeros.



What a multi-polar world.  Bitcoin proponents are greedy geeks peddling a crypto-scam.  Bitcoin buyers are foolish speculators with less sense than five-year-olds.  And bitcoin detractors can't read on an elementary level.

Which brings me back to bubbles.  Bubbles burst when they run out of foolish buyers.  So by the bubble analysis, the bitcoin bubble has less to do with the supply and demand of bitcoin and more to do with the supply and demand of fools.  When the supply of fools exceeds the demand, the price of BTC goes up.  But when there's no more fools to sell to (demand for fools exceeds the supply), BTC crashes.

Therefore, anyone predicting an imminent crash of the bitcoin bubble believes the world will soon run out of fools.  But the only thing on which everyone can agree, is that they are all fools.  

What a paradox.

Ha!

My database shows that these guys where using my BTC Economy (http://en.bitcoin.it/wiki/Btceconomy) plugin for a few minutes. They must have removed the plugin because it is no longer there. I guess the plugin was showing that the bitcoin economy is legitimate.

- Jared

Your plugin was terrible and I couldn't resize the box you meathead

Just celebrated Buttcoin's 1 year anniversary. Thanks guys!