When has Bitcoin ever had a sideways market, except on like the hourly chart or something?
it was crazy stable at 5$ for like 3 or 4 months but that was because pirate40 was keeping prices low, as he sold other people's bitcoins. |
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Wow weekly
fine   |
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Its got to, everything says overbought. IDK about below $100, there is a big wall forming.
$101 seemed like a safe bet but its all stalled at like $105-104.
I think not!  |
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Why wont the price go to $101.
because over ten thousand coins would need to be sold in order to reach 101 |
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after some chart reading, i can clearly see that the up trend will resume in a few hours!  dont make any plans this weekend and fill up on popcorn! The new "$180"? 180 is still my target price, ETA 3 to 8 business days  |
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after some chart reading, i can clearly see that the up trend will resume in a few hours! dont make any plans this weekend and fill up on popcorn! |
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ok i give up, spiral_mind is just too annoying. for the record; i'm not investing in this thing, its just too risky, i might throw in a coin or half a coin, as a gamble, for now. But I have to say this idea is really really good. Maybe some of the things he wants to do just flat out won't work, but the core idea, piggybacking a new protocol on top of bitcoin's blockchain is quite exciting, imagine the possibilities.
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We already know how well this escrow fund system is going to work. Central banks have been trying it for decades. This makes me think you are not aware of the similarities between your idea and what already exists. You might watch these Kahn Academy videos on how speculative attacks on currencies work to educate yourself: Financial Crisis in Thailand Caused by Speculative Attack http://www.youtube.com/watch?v=lA3sjWwu5-sFor more background, here is the whole Micro/Macroeconomics series. The videos on currency reserves start at #123. http://www.youtube.com/watch?v=_7VHfuWV-Qg&list=SPAEA5E9ACA1508F92Even if you get a bunch of idiots to put money into GoldCoins and got it up to its target value, the idiots will be relieved of their money by speculative attackers. The same thing that happened with the Thai Baht will happen to the GoldCoin. Speculative attackers sold the Baht, knowing that the central bank would use its reserves to buy Baht to keep the value up, because they knew that if they kept doing it the central bank would run out of reserves and have to abandon the peg. Speculators were borrowing Baht and selling it for dollars, knowing they were losing money in the short term, because they knew that if the central bank ran out of reserves they would show a huge profit. In the same way, speculators will sell GoldCoins or borrow them to short them, even though they will lose money in the short term because the escrow fund will be able to buy cheaper, because they know that if they KEEP DOING IT until the escrow fund goes bankrupt, the peg will be abandoned and GoldCoins will undergo a huge devaluation. You should stick to what you are good at and write code for things you know how to do, not dabble in areas in which you lack expertise. I'm aware of these issues. I believe some of these currencies will be able to track their values for a very long time. Others will fail. I'm very grateful that I don't need anybody's permission to dabble  Responses like this do not breed trust in your idea. Investors, you have been warned. I am thankful that only 35 BTC has been invested by the community. He keeps dodging all the substantial questions such as "why are you the only one who can make mastercoins if you plan to release the source code eventually? Why does the money go directly into your account (other than "I deserve it !!"). Now someone's sent 1,222 Bitcoins into his stupid "exodus address". My guess is that these are his own funds that he's transferred to make it seem as there are actual investors into his scam. he answered that question hes using the funds to work on the project. at 1million $ worth of bitcoin he quits his day job and makes this project his lifes work |
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so whats stopping dacoinminster from sending his own coins over and over. after all he controls this address, he can take all the coins out and then put them back in giving himself monumental amounts of MasterCoins
plus he gets to keep the bitcoins
Feel free to watch funds sent to the Exodus address. They will stay there until September 1st. Probably a lot longer than that. that works! |
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so whats stopping dacoinminster from sending his own coins over and over. after all he controls this address, he can take all the coins out and then put them back in giving himself monumental amounts of MasterCoins plus he gets to keep the bitcoins MasterCoins are free for him   |
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After all the scams in Bitcoinland, I understand the paranoia. You'll need more evidence this is a scam rather than a risky investment in not another currency, but a new type of client. Look at ASICs, Trezor, and Bitcoin Magazine to name a few that had donated seed money. We'll see how the devs approach this. I suspect details will be addressed soon enough.
You can't just ask people to have faith in you. You have to provide them some reason to trust you. So far you've provided none and asked for cash upfront in exchange for NOTHING. SCAM what you gana do? save the sockpuppets from scamming themselves  |
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Spiral, you made no points to debate that have not been addressed. Moderating to reduce noise is fine. Your thread will be entertained by concerned folks *if* there are valid discussion points. It's a little early to accuse this of being a scam. I would suggest changing your alert to something less dramatic unless of course you are a sock puppet yourself.
Do you even know what a sock puppet is? It means you've got multiple accounts posting as if they were different people. They're used to create a fake appearance of support or obscure a discussion. You've dismissed the concern about money being sent to an address the creator controls before he has developed anything again. What do you think about that? Let me guess its a "risky investment". No. It's not an investment. It's sending this guy money for promises and nothing even as good as kickstarter or the credit card companies to help you out. I agree with you that caution is warranted with sending money. I don't even recommend buying Bitcoin with money you can't afford to lose. Do you have any reason to believe that his 'fake address' scheme of tracking transactions won't work? Good job glossing over the fact that he is currently accepting money into an account without releasing any source code. You have no way to take possession of your "mastercoins" even if he says you have them. This isn't like investing in an alt-coin. It's not risky because it's an online transaction. It's not about whether or not you can "afford to lose the money" (you keep saying that a lot). It's risky because you're sending money directly to a pseudonymous user for nothing but a promise of more money in the future. Aka Nigerian prince scam. The fake address scheme is irrelevant until you explain what is stopping the owner of the "Exodus address" from simply keeping the Bitcoins and walking away. So you are claiming that he is not the panelist at the San Jose convention sitting next to Jeff Garzik. Fair enough. Let's investigate this. If he really is that guy it's still a scammy proposal. He gives no guarantees or goals for his project, releases no source, yet expects cash now. I just don't think someone would be stupid enough to post their real identity when running a scam like this. You never know though, he might think he's smarter than everyone else, criminals often do. In the other thread you posted "if he can convince people to send him the coins he deserves them". Total sociopathic thinking there. that was me... and i meant: we know the risks of sending money to random avatars on the internet. its our risk to take. Yes I'm talking to you dacoinminister, Sock Puppeteer General, Sir! You keep acting like this is the same as buying anything for Bitcoin when in fact this is very much different. You ask for money now and offer nothing but cheap words and a pseudonym in return. its working isn't people are sending me coins! and it only took like 45 mins to write the white paper and create all the puppets muahaha muahahahahahahaha |
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Spiral, you made no points to debate that have not been addressed. Moderating to reduce noise is fine. Your thread will be entertained by concerned folks *if* there are valid discussion points. It's a little early to accuse this of being a scam. I would suggest changing your alert to something less dramatic unless of course you are a sock puppet yourself.
Do you even know what a sock puppet is? It means you've got multiple accounts posting as if they were different people. They're used to create a fake appearance of support or obscure a discussion. You've dismissed the concern about money being sent to an address the creator controls before he has developed anything again. What do you think about that? Let me guess its a "risky investment". No. It's not an investment. It's sending this guy money for promises and nothing even as good as kickstarter or the credit card companies to help you out. I agree with you that caution is warranted with sending money. I don't even recommend buying Bitcoin with money you can't afford to lose. Do you have any reason to believe that his 'fake address' scheme of tracking transactions won't work? Good job glossing over the fact that he is currently accepting money into an account without releasing any source code. You have no way to take possession of your "mastercoins" even if he says you have them. This isn't like investing in an alt-coin. It's not risky because it's an online transaction. It's not about whether or not you can "afford to lose the money" (you keep saying that a lot). It's risky because you're sending money directly to a pseudonymous user for nothing but a promise of more money in the future. Aka Nigerian prince scam. The fake address scheme is irrelevant until you explain what is stopping the owner of the "Exodus address" from simply keeping the Bitcoins and walking away. So you are claiming that he is not the panelist at the San Jose convention sitting next to Jeff Garzik. Fair enough. Let's investigate this. If he really is that guy it's still a scammy proposal. He gives no guarantees or goals for his project, releases no source, yet expects cash now. I just don't think someone would be stupid enough to post their real identity when running a scam like this. You never know though, he might think he's smarter than everyone else, criminals often do. In the other thread you posted "if he can convince people to send him the coins he deserves them". Total sociopathic thinking there. that was me... and i meant: we know the risks of sending money to random avatars on the internet. its our risk to take. |
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you really don't get it?
he can take off with the coins
it won't matter
he will have left us with his idea and we can implement it ourselves. we'll get our MasterCoins one way or another.
the coins are going to his address because he deserves them
you made your point quite clear over and over, thank you.
now, good day!
He can take off with the coins and it won't matter? What about releasing the source code? What about all the people whose money he would have stolen? The idea alone is worth everyone sending him Bitcoins in advance in exchange for nothing? Actually it does matter if you steal people's coins. He (or should I say you?) deserves them simply for writing a paper proposing that he should get all the coins before he releases the source? This is a very, very questionable post. yes if he can fool us into sending coins somewhere, he F'ing deserves them. I trust he takes pride in his idea and wants to see it through. so i might be willing to send a coin, but for now i am watching this project's development ( just saw it today ) and will jump in when i feel comfortable. |
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Ripper, since you're so positive about the project would you care to answer why you think its ok for the creator to recieve money into his personal bitcoin vanity address before source code is released and without any mechanism to keep him honest? How is this distinct from a nigerian prince scheme? I'd really like someone to explain.
Why didn't we have to buy all the Bitcoins in existence from Satoshi Nakamoto before he released the client? Such a project would have been doomed to failure before it began because it has no substance.
spiral_mind, faith You're asking people to have faith in an internet pseudonym whose reputation is based upon hundreds of single line posts devoid of anything meaningful as well as (likely someone else's) LinkedIn account. Bitcoin worked because people didn't have to have faith in Satoshi Nakamoto. They have confidence in the security of the mathematics and code behind Bitcoin. And until you release some code any faith or cash put in your project is misplaced. By the way I asked Ripper to respond. Oops, your sock puppet slipped onto the wrong hand. Explain how this isn't a nigerian prince scam by telling us what will keep you honest. And don't type the word faith again. Type a sentence as if you can use your brain. you really don't get it? he can take off with the coins it won't matter he will have left us with his idea and we can implement it ourselves. we'll get our MasterCoins one way or another. the coins are going to his address because he deserves them you made your point quite clear over and over, thank you. now, good day! |
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Are you guys really all my sock puppets?? Dang, I wish I had known - I could have used you a lot of times in the past!
Interesting how many single line posts that don't add anything to the discussion the people who say positive things about Mastercoin have. If you use a VPN we'd never really be able to know for sure they were your sockpuppets, but from the post history on all of these accounts it definitely appears to be an astroturfing operation. I'm sure you figured that if enough hero members said it sounded worthwhile you'd get plenty of noobs with coins to send them right to you. Accounts are bought and sold all the time on this forum, and your member status is determined only by your number of posts making it easy to fake yourself. I thought you were going offline for a while? You must have gotten tired of posting on your sock puppets, or couldn't stand seeing my reply in your other thread linger so long. oh come on i'm not a sock puppet! or am i?  mind blow! |
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spiral_mind thanks for the warning, but i think your wrong.
first, every Mastercoin TX will recorded on the block chain so it wont be hard to see if he starts creating them out of thin air.
second, the protocol he plans on implementing will be open-source, i'll read the source code, and not this conspiracy theory -There is currently no source code yet he's asking for money right now in exchange for promises alone -It's not a conspiracy theory, this is what the creator has said about his project -Putting messages on the blockchain is useless unless someone actually values those messages somehow. Since there's nothing keeping the creator honest besides fear that his fake money will be devalued these blockchain records are useless. He'll just run off with his real money (Bitcoins) and post some lame message about how "he can't afford to keep developing since he's too poor" Mastercoin ( if implemented like he said he would ) will offer perfect information to all participants at all times.
It should put ripple to shame.
And now it's pretty obvious this is a sock puppet account as well. You were one of the only people in the other thread to post positively about it. -There is currently no source code yet he's asking for money right now in exchange for promises alone yes this is somewhat worrying, I am excited about the project, but will refrain from investing until i can be sure he can actually do it ( but if he can't someone else will, this is a powerful idea) -It's not a conspiracy theory, this is what the creator has said about his project there was no mention about the hole project being a scam in the other thread. -Putting messages on the blockchain is useless unless someone actually values those messages somehow. Since there's nothing keeping the creator honest... I really don't need to trust him, the blockchain will record every tx, and i can reimplement this protocol, and make my own client. - He'll just run off with his real money (Bitcoins) and post some lame message about how "he can't afford to keep developing since he's too poor" Yes, investing early ( before the client is up and running ) is quite risky, lol, I am not a sock puppet... I created Abstract Coin! anyway, risky investment is risky, but calling it a flat out scam is not cool. |
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I haven't been keeping up... I will send out the freebies to all the newly created wallets tomorrow, i have to get off the computer right now.... I see some interesting comments... anyway sorry i was way i'll be back tomorrow! Abstract Coin, the future of money? no way in hell! a soon to be highly valued imaginary object? I think so! |
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I disapprove of spiral_mind and this thread.
me too spiral_mind thanks for the warning, but i think your wrong. first, every Mastercoin TX will recorded on the block chain so it wont be hard to see if he starts creating them out of thin air. second, the protocol he plans on implementing will be open-source, i'll read the source code, and not this conspiracy theory This seems like an investment risk more than a scam.
His "coin" is similar to ripple, whoever buys in will probably know the risk of a single-minted close-source altcoin. Let it be.
Mastercoin ( if implemented like he said he would ) will offer perfect information to all participants at all times. It should put ripple to shame. |
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Bump!
I got a couple orders today. I would like to get more order!
I'm not making any money at all with this.
I just think that this card is a gr8 thing to go along with a " have you hear about bitcoin " conversation. The hope is that giving them this card will make them remember to google bitcoin, and the impressive service listed on the back of the card, right away shows them that BTC can buy almost anything right now today! web hosting, poker, take-out food, ect...
If these small business cards can help just a few people through the process of first learning about bitcoin then it will have been worth it for me.
0.01BTC ( to cover shipping cost ) for ~30cards.
PM me with your mailing address
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