the pennybot is desperately trying to keep price suppressed. sorry.
I kind of noticed that too lol except it doesn't cost a penny anymore. it's 10 cents. that'll start to pile up.  |
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the pennybot is desperately trying to keep price suppressed. sorry.
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Don't ignore the case, no. But don't use it to make a point either.
There are definitely too many hurdles for most people, I just think this case is a shitty example.
It's actually a very good example, because it hit nearly every extrinsic limitation of Bitcoin today. It illustrates the connectivity-dependent nature of the system, potential inconsistency with related software, and the extent of planning necessary to conduct a transaction in less-than-ideal circumstances. Even if it's an edge case, it means there are opportunities for enterprising minds to provide numerous types of supporting services that will smooth the situation. What would be even more interesting is information to compare how many smooth transactions occur relative to how many run into problems, and the extent of failure (e.g. delayed versus canceled, performed through another currency, etc). you mean to tell me there are no Starbuck's in Iceland? those ppl were just not motivated enough, plain and simple. $10 for wifi is standard fare. should've been no big deal. i just paid $12 per 24h while travelling. |
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i also should say thank you for the great updates. my gpu's are performing vastly better.
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and now it's easier for a big player like Google to say, "what? Wordpress is doing IT!"
I suspect Google will wait a few months to let WordPress be the guinea pig. I would have expected more of a price rise with the wordpress news just like I would have expected a huge move down off of GLBSE closing. Seems like the market ignores the news for the most part. well, this is what i was talking about above to EM about how the market is maturing along with the depth. volatility actually decreases with a sound money the more established it becomes. the chart paints a huge multiyear triangulish oscillator with the whipsaws dampening into a consolidation pattern that will break up. i think we've just started that. aka: the daaash for the digital caaash ;> you love it. admit it. |
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and now it's easier for a big player like Google to say, "what? Wordpress is doing IT!"
I suspect Google will wait a few months to let WordPress be the guinea pig. I would have expected more of a price rise with the wordpress news just like I would have expected a huge move down off of GLBSE closing. Seems like the market ignores the news for the most part. well, this is what i was talking about above to EM about how the market is maturing along with the depth. volatility actually decreases with a sound money the more established it becomes. the chart paints a huge multiyear triangulish oscillator with the whipsaws dampening into a consolidation pattern that will break up. i think we've just started that. |
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and now it's easier for a big player like Google to say, "what? Wordpress is doing IT!"
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lucif, we are up and out of the triangle. and now with possible Google? Hit the buy button, man! |
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given that Mike Hearns works for Google, this has been thought to be a possibility for a long time. now with Wordpress's announcement and the tone of it...
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nice presentation! succinct and clear. i especially liked the diagrams illustrating tx's. i learn something new everyday.
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another thing about hoarding. you assume just b/c hoarders hold a "large" number of coins that they are going to "dump" them at any second and crash the price. as i said above, they're hoarding for a reason; the price has not yet reached it "fair equilibrium price" which most of them are concluding is much higher than it is now. yes, its not a science as much as you'd like so there's no way to determine exactly what number that is or when it will be reached. but that's also the beauty of subjective value. every hoarder will decide what that fair price is on the way up; $20, $50, $100, $1000, $10,000 who knows? they will unload at different points along the way dampening volatility. fair money will lead to less volatility in the long run, not more. of course we had huge volatility last year but that was growing pain. look at the volatility since then. its getting less and less as more ppl understand what Bitcoin is all about. participants are getting less scared and more confident and thus less likely to dump.
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It seems to me that you're just trying to troll the rest of the community by disputing bitcoin with pseudo-intelligent bullshit.
No here is the paper I was referring to: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1282711It may be that I didn't understand it well enough or falsely applied it's conclusions, but I was certainly not trolling. you sure did grossly misapply the conclusions of that paper to Bitcoin! i didn't even have to read the paper, just the abstract. you're totally missing the fact that the entity studied was gubbermint. what source of funds do gubmints have that the rest of us don't? why, the printing press! that's what enables them to prop up assets to maintain price fiction. of course that dynamic is unsustainable and will lead to volatility and bubble busts. does Bitcoin suffer from that same dynamic? of course not. yes, its theoretically possible that all the USD being printed or borrowed could be causing Bitcoin to rise if it is just another ponzi asset. but i don't think so. Bitcoin is its own self contained new form of money that cannot be printed ad infinitum by a particular corrupt elite group like gubmint. what's really happening is a paradigm shift from a bad system to a good honest system. and that will be self sustaining. the other problem i have with your reasoning has to do with hoarding. no doubt that is going on with Bitcoin. you see it as a bad sign; i see it as a good sign. ppl are hoarding for a reason; the value of Bitcoin has not reached its equilibrium. the collective wisdom of its market sees a "fair" price as being much higher than what it is currently. why? b/c its so new and the majority of ppl haven't heard of it. the fundamentals behind Bitcoin are so strong that current hoarders are correctly estimating that the price should rise as awareness becomes more widespread. most ppl "know" that the current fiat money system is corrupt and favors a select few. but only a few of those same ppl know about Bitcoin. that's going to change and fast. hoarding should be viewed by you as a positive sign as it indicates a just and fair application of Gresham's Law. ppl are "RunningToBitcoin". hey, i better grab that site name before Trace does as i just coined a better site name than his. |
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It's easier to grasp an idea when you already have the building blocks.
yes, but this is America. WE are the building blocks of the world. or is it the blockheads of the world? |
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lol, usually those videos are given as examples of how stupid people are; you're using it as an example of how smart people are!  see miscreanity? it's hopeless. lol! Go to Africa, Asia, or South America and try that. you mean there is hope?!!! lol!! |
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